I began reviewing forex brokers for FXEmpire in 2022, following my 9-year career as a retail trader and market analyst. I also took an active role in developing our rating system, based on my experience with what traders need and value. For this FXCC review, which is my second for the broker, I used live and demo trading accounts. Based on my hands-on tests, I found FXCC:
🟢 Best For: Forex trading. FXCC stands head and shoulders above other brokers with its rock-bottom FX fees. I calculated a $0 cost of trade for EURUSD – something I have not seen with other brokers. The selection of 72 pairs is also impressive, including Major, Minor, and Exotic options.
🔴 Less Ideal For: Overnight trading. FXCC’s swaps exceeded the industry benchmarks across all popular assets in my test. I recorded $1164 swap long on the Dow Jones 30 compared to the industry average of $86.06. The broker’s high swaps limit the ceiling for swing traders.
| Trading Style/Profile | Advantages | Drawbacks | Our Verdict |
| Casual Traders | $0 minimum deposit required, competitive prices, high-quality research | — | ⭐ Perfect Match |
| Automated Trading | EAs trading on MT, built-in strategy tester, free VPS | — | ⭐ Perfect Match |
| Social & Copy Trading | Proprietary copy trading service, great flexibility for strategy followers | — | ⭐ Perfect Match |
| Beginners | Competitive prices, reliable customer support | Educational content could be more diverse | ✅ Acceptable Choice |
| Day Trading | Generally low spreads, comprehensive technical analyses | No alternative to MetaTrader | ✅ Acceptable Choice |
| News Trading | Dedicated educational content, reliable technical analyses | Slow execution speeds | ✅ Acceptable Choice |
| Scalping | DoM trading, one-click trading, free VPS | Slow execution speeds | ✅ Acceptable Choice |
| Swing Trading | — | High swaps | ❌ Not Recommended |
| Investing | — | No real stocks | ❌ Not Recommended |
FXCC is a forex and CFD broker founded in 2010. It is headquartered in Comoros and provides 1040+ assets across currency pairs, commodities, stocks, indices, and cryptocurrencies. The broker integrates MT4 and MT5 and offers a single account with ECN pricing.
Since my previous review, FXCC:
✅ Increased the maximum retail leverage from 1:500 to 1:1000.
✅ Launched a copy trading service.
✅ Introduced a news screener.
❌ Hasn’t improved the scope of its educational content.
| Pros | Cons |
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FXCC is the only broker in our catalog to provide cost-free trading on the EURUSD. I confirmed this by capturing a 0.0-pip spread on the pair during both the London and New York market openings. Plus, the ECN XL account features no commissions, making it very cost-efficient.
For this review, I opened live and demo versions of the ECN XL account with Central Clearing Ltd. I tested the MetaTrader 5 platform on desktop and mobile. Some features and services may vary by location.
| ☑️ Regulations | MISA (Comoros), CySEC (Cyprus) |
| 🗺 Supported Languages | English |
| 💰 Products | Currencies, Stocks, Crypto, Indices, Commodities |
| 💵 Min Deposit | $0 |
| 💹 Max Leverage | 1:1000 (MISA), 1:30 (CySEC) |
| 🖥 Trading Desk Type | STP, ECN |
| 📊 Trading Platforms | MT4, MT5 |
| 💳 Deposit Options | Wire Transfer, Cryptocurrencies, Neteller, Skrill, Debit Card, Credit Card, Awe Pay, Union Pay |
| 💳 Withdrawal Options | Wire Transfer, Cryptocurrencies, Neteller, Skrill, Debit Card, Credit Card, Awe Pay, Union Pay |
| 🤴 Demo Account | Yes |
| 🗓 Foundation Year | 2010 |
| 🌎 Headquarters Country | Cyprus |
Two entities operate under the FXCC trade name. One is licensed and regulated by MISA of the Comoros Union, and the other is supervised by CySEC in Cyprus. I confirmed that both guarantee negative balance protection; however, the entity supervised by CySEC is the only one that segregates client funds. I also pored over FXCC’s website and legal documents and was generally satisfied with the broker’s overall transparency. I mostly appreciated its live spreads screener. On the downside, FXCC’s risk notice does not display the percentage of traders who lose money with the broker.
| Entity Features | Central Clearing Ltd | FX Central Clearing Ltd |
| Country/Region | Comoros Union, Moheli | Cyprus, Limassol |
| Regulator | MISA | CySEC |
| Tier | 3 | 1 |
| License Number | BFX2024085 | 121/10 |
I confirmed the client protections entitled to FXCC clients from the broker’s client agreement from the ‘About’ section of the website. I clicked ‘Download Documents’ under ‘Trader Support’.
Here is what I found about the broker:
| Entity Protections | Central Clearing Ltd (MISA) | FX Central Clearing Ltd (CySEC) |
| Segregated Funds (your funds are kept separate from the corporate capital) |
❌ No | ✅ Yes |
| Negative Balance Protection (your losses cannot exceed your account balance) |
✅ Yes | ✅ Yes |
| Compensation Scheme (In the event of insolvency, you may be entitled to compensation) |
❌ No | Up to EUR 20,000 under the ICF |
| Maximum Leverage | 1:1000 | 1:30 |
I found out that Central Clearing Ltd is the broker’s principal entity that onboards clients, and it’s authorized offshore by MISA. I reviewed its legal documents and confirmed that this entity of FXCC does not hold client funds in segregated accounts, which concerned me about its safety. This is what is stated in the client agreement:
“The third party to whom we pass money may hold it in an omnibus account and it may not be possible to separate it from our money, or the third party’s money.“ This means that in the event of insolvency, your funds may not be reimbursed.
To learn more about the most important safety mechanisms and how they apply to you, check our dedicated guide on client protections.
I went through FXCC’s website and social media channels and learned that the broker was established in the Comoros in 2010. According to its LinkedIn profile, the company has 11-50 professionals, which broadly aligns with the industry average.
I’ve also paid attention to FXCC’s risk warning at the bottom of the banner. The broker cautions that trading CFDs entails a considerable risk; however, it does not state the percentage of its clients who lose money with the provider. This is a pretty standard policy among brokers supervised by Tier-1 regulators, such as FXCC’s own CySEC-regulated entity.
The thing I appreciated the most was a live spreads screener, which helps traders assess FXCC’s fee competitiveness even without opening an account. I cross-checked those spread rates against my own findings and confirmed they match, demonstrating FXCC’s high fee transparency.
FXCC doesn’t charge commissions, and my testing revealed that its spreads are tight across all popular assets, except for oil. The broker breaks the mold of FX trading with its 0.0-pip spread on EURUSD, meaning you can trade the most popular pair for free. I also calculated that it will cost you $17.5 to trade gold and $8 to trade Apple, both of which significantly beat our benchmark. The only downside was overnight fees – they exceeded the average on all assets I tested.
I tested FXCC’s spreads on a live ECN XL account on 29 June during the London and New York market openings, using the MetaTrader 5 platform. Here are my results:
| Account Type | ECN XL | ||
| Instrument | Live Spread AM | Live Spread PM | Industry Average* |
| EURUSD | 0.0 pips | 0.0 pips | 1.15 pips |
| GBPJPY | 1.5 pips | 1.9 pips | 2.73 pips |
| Gold (XAUUSD) | 17 cents | 18 cents | 33 cents |
| Crude Oil | $0.042 | $0.046 | $0.04 |
| Apple | NA | 8 cents | 32 cents |
| Tesla | NA | 24 cents | 49 cents |
| Dow Jones 30 | 2.6 basis points | 2.4 basis points | 3.3 basis points |
| Germany 40 | 1.0 basis points | 1.0 basis points | 2.6 basis points |
| Bitcoin | $35.74 | $29.34 | $45.36 |
*These industry average values are derived from a pool of nearly 70 brokers that we tested. The numbers were last updated in January 2026.
The highlight of my testing was the 0.0-pip EURUSD spread I captured during both sessions. FXCC’s spreads on FX Crosses, such as GBPJPY, metals, stocks, indices, and crypto spreads were also kept pretty tight.
The only outlier in my testing was the $0.044 median WTI spread I observed, which came in slightly above the industry average of $0.04.
I tested FXCC’s swaps on an ECN XL account on 29 June 2026. I used a live account with the MetaTrader 5 platform.
The values listed below are for one full base currency contract (100,000 units):
| Instrument | Swap Long | Industry Average |
| EURUSD | Charge of $12.88 | $7.64 |
| GBPJPY | Credit of $15.63 | $7.74 |
| Gold (XAUUSD) | Charge of $71.35 | $65.65 |
| Crude Oil | Charge of $3.08 | $2.22 |
| Apple | Charge of $9 | $6.83 |
| Dow Jones 30 | Charge of $1164 | $86.06 |
| Bitcoin | Charge of $20 | $20.05 |
Except for the $20 swap long I recorded on the BTCUSD, which matched the industry average, FXCC’s swaps on instruments from all other asset classes exceeded the industry average. The massive $1164 swap long on the DJI 30 was especially high, dwarfing the industry benchmark of $86.06. Based on that, I found FXCC to be unsuitable for swing trading.
Please note that swaps fluctuate over time, subject to changing interest rates.
To help you understand how much you’ll pay to trade each instrument, I calculated the cost of trade using the formula: spread rate x pip value + commission rate (swaps are not included).
| Instrument | ECN XL Account | Industry Average |
| EURUSD | $0 | $11.54 |
| GBPJPY* | $11.73 | $17.48 |
| Gold (XAUUSD) | $17.5 | $33.02 |
| Crude Oil | $44 | $39.66 |
| Apple | $8 | $31.78 |
| Tesla | $24 | $48.73 |
| Dow Jones 30 | $25 | $33.37 |
| Germany 40* | $11.8 | $30.51 |
| Bitcoin | $32.74 | $45.36 |
*The base currency values are converted to US dollars.
The ECN XL account features commission-free trading on all instruments, and my live tests showed that its spreads beat industry benchmarks across all assets, except crude oil.
Two assets stand out from my testing. On the one hand, there is the $0 trade cost I calculated for EURUSD, unmatched by any other broker in our catalog; on the other hand, there is the $44 WTI trade cost. It came in slightly above the industry average of $39.66, making FXCC less than ideal for trading energy commodities.
FXCC supports MT4 and MT5, both of which support day trading, scalping, and algorithmic trading via Expert Advisors (EAs). The broker also has its own copy trading service that can be used on MetaTrader. And while FXCC’s selection of tradable platforms is narrower than most other brokers’, I awarded it extra credit for providing free VPS hosting, which allows high-volume traders to achieve ultra-fast order execution speeds.
| Platform/Tool | Suitable For |
| MetaTrader 4 (Web, desktop, mobile) | Easy order execution, basic technical analysis, automated trading, and trading on the go |
| MetaTrader 5 (Web, desktop, mobile) | Easy order execution, basic technical analysis, automated trading, and trading on the go |
| VPS Hosting | Low-latency trading |
| FXCC Copy | Proprietary copy trading service |
For this review, I tested the desktop version of MT5. Its installation process is streamlined, with only a few steps. I installed FXCC’s MT5 platform in less than 5 minutes. The platform supports 30+ languages, including English, French, German, Spanish, Arabic, Russian, and others.
| Feature | Advantages | Drawbacks | Suitable For |
| Customizable Watchlists | Have your favorite instruments on hand in one place | Only 1 watchlist available | All types of traders |
| Trading From the Chart | Place your trading orders from the chart | — |
Day traders, Swing traders |
| One-Click Trading | Instant entries | Rugged visuals make it difficult to spot viable entries |
Scalpers, News traders |
| DoM Trading | Entries at different price levels | — |
Scalpers, High-volume traders |
| Setting Alerts | Get notified when the market reaches a specific price level | — | All types of traders |
| Automated Trading | Automated execution via Expert Advisors (EAs) | — | Algorithmic traders |
| Speed Gauge | Measure your order execution performance | — | Scalpers, High-volume traders, Algorithmic traders |
MetaTrader 5’s analytical tools include:
| Feature | Types | What Is It For | Advantages/Drawbacks |
| 38 technical indicators | Oscillators, trend-based, volume-based, and others | Measure the market’s momentum and direction; assess buying and selling pressures | 🔴Difficult to see on the chart |
| 24 drawing tools | Trend lines, channels, Fibonacci, Elliott Waves, and others | Measure the market’s direction, outline ranges and trends, spot trend-continuation and trend-reversal patterns | 🔴Difficult to see on the chart |
| 21 timeframes | From 1 minute to 1 month | Scale price action up and down | 🟢More options than with other platforms |
| 3 chart types | Line chart, bar chart, candlesticks | Represent price action in different ways | — |
The MetaTrader 5 by FXCC supports the following order types:
| Order Type | What Is It For | Advantages/Disadvantages | Suitable For |
| Market Orders | Immediate entries at the best possible price |
🟢Guaranteed volume filling 🔴Possible price discrepancies |
Day traders, swing traders, news traders, high-volume traders |
| Limit Orders | Entries at a predetermined price level |
🟢Guaranteed price filling 🔴The market might miss the trigger price |
Scalpers, high-precision traders, day traders |
| Stop Orders | If the stop price is reached, the stop order turns into a regular long/short market order |
🟢Guaranteed volume filling at some predetermined price level 🔴The market might miss the triggering ‘stop’ price |
Algo traders, day traders, high-volume traders, swing traders |
| Stop-loss orders | A conditional order is used to protect a primary position |
🟢If the market turns against you, the stop-loss will cut your losses 🔴Static, inflexible |
All traders |
| Trailing Orders | A stop-loss order that moves at a distance from and along with your primary position |
🟢A more flexible option than the static stop-loss order 🔴More easily triggered |
Scalpers, experienced traders |
I tested the FXCC MT5 App on my personal Google Pixel phone running Android. I downloaded the App from the Google Play Store and had it installed in seconds.
The MT5 app supports most of the desktop platform’s functionalities, such as watchlist customization, placing market, limit, and stop orders, and more. So the app lets you stay connected to the market and adjust your positions on the go.
You can place market, limit, and stop orders, as well as manage position size and risk directly from the app. That said, the charting experience still feels a bit cramped, and price action can be hard to scale and analyze comfortably on a small screen.
Unlike most other brokers, FXCC’s copy trading service offers signal followers greater flexibility. You can still subscribe to experienced traders’ strategies and replicate their success. But FXCC goes further, letting you manage your exposure. You can adjust the traded volume on your end in proportion to the signal provider’s.
For instance, if your account balance is $1,000 and the signal provider you subscribe to has deposited $10,000, you can make it so that the positions opened on your end are 10 times smaller than those on the market expert’s.
Another perk to FXCC is that the broker does not charge a maintenance fee for the service.
If you are a high-volume trader and seeking fast, precise order execution, then you can subscribe to FXCC’s Virtual Private Server (VPS) service. It is used to achieve low-latency speeds averaging below 7ms.
I learned that to receive the service for free, you have to deposit at least $2,500 to your account and trade 30 lots per month.
According to my research, FXCC operates on a hybrid STP/ECN model. Client orders are either sent to the broker’s pool of liquidity providers, where they get filled at the best available price, or they get matched electronically.
I used the MetaTrader 5 platform to measure FXCC’s order execution speed. I placed several orders on the EURUSD, GBPJPY, gold, crude Oil, the Dow Jones 30, Germany 40, and Bitcoin. These orders were executed in quick succession on 30 June, just after the New York market opening.
Please note that I used a demo account for my hands-on tests because I did not deposit real capital to my live account. Here are my results:
| Instrument | Recorded Speed | Industry Average |
| EURUSD | 338ms | 148ms |
| GBPJPY | 448ms | 220ms |
| Gold | 340ms | 242ms |
| Crude Oil | 357ms | 201ms |
| Apple | 336ms | 351ms |
| Tesla | 430ms | 338ms |
| Dow Jones 30 | 406ms | 209ms |
| Germany 40 | 364ms | 277ms |
| Bitcoin | 340ms | 241ms |
Note that these values are only illustrative and not necessarily what you might experience with the broker
I calculated FXCC’s average order execution speed at 373ms, which came in above the industry benchmark of 243ms (based on the performance of 12 brokers I recently reviewed). However, this latency may be attributed to several factors, such as my location (in Europe) relative to the broker’s servers. Accordingly, if I had been reviewing the broker’s European entity, its speeds would likely have been much faster.
Another strong point of FXCC is its rich selection of CFD assets spanning over 1040 currency pairs, commodities, stocks, indices, and cryptocurrencies. The range of 920+ share CFDs is especially strong and includes stocks from major US, EU, and HK companies. FXCC also stays ahead of the curve with its 72 Major, Minor, and Exotic forex pairs and 32 Major and Minor cryptocurrencies. I’d also appreciate it if FXCC added some alternative contracts, such as ETFs, futures, and options.
| Markets | Number | Types | Industry Average |
| Forex Pairs | 72 | Major, Minor, and Exotic | 30 – 60 |
| Commodities | 7 | Metals and Energies | 5 – 10 |
| Stocks | 920+ | Finance, Retail, Tech, Other | 100 – 500 |
| Indices | 13 | US, EU, Asia, Other | 10 – 20 |
| Cryptocurrencies | 32 | Majors and Minors | 10 – 20 |
Here is a sample of the CFDs you can trade with FXCC:
| Currency Pairs | Commodities |
| EURUSD | GBPJPY | EURCHF | USDNZD | GBPCAD | AUDCAD | Gold | Silver | Crude Oil | Brent Oil | Platinum | Palladium |
| Stocks | Indices |
| Apple | Tesla | Netflix | Microsoft | Electronic Arts | Goldman Sachs | Dow Jones 30 | Germany 40 | France 40 | UK 100 | Nasdaq 100 | Hong Kong 50 |
| Cryptocurrencies |
| Bitcoin | Ripple | Cardano | Dash | Litecoin | DogeCoin | Tron |
FXCC delivers 24/5 customer service via live chat, email, and phone. I conducted a series of tests over two days and was happy with the assistance I received. The agents connected to the chat within several seconds and delivered fast, exhaustive answers with no omissions. I found no major gaps in their knowledge, which is why I rate FXCC’s level of customer support as one of the best in our catalog.
| Live Chat | Phone | |
| 24/5 from the website | By filling out a form |
|
I conducted my first test of FXCC on 2 June at around 9:20 am CET via live chat. An agent connected in less than 20 seconds, which is a faster response time than with most other brokers.
I asked a few basic questions about FXCC’s location and the conditions of the ECN XL account, and the agent provided me with quick, straight-to-the-point answers.
Then I asked about the maximum retail leverage by asset class, and the agent provided me with a link to FXCC’s contracts specs page, where I found various leverage rates.
I did my second test of FXCC on 3 June at around 14:30 CET via live chat. This time, I inquired about FXCC’s copy trading service, VPS hosting, and margin call policy, and I again received fast, exhaustive answers.
My experience with FXCC’s support was one of the best among the brokers I tested recently.
You can deposit to FXCC via bank wire, credit and debit cards, several e-wallets, and cryptocurrencies. I also learned that the broker does not charge a handling fee on deposits, though withdrawals may incur a processing fee depending on the payment method. In my opinion, withdrawing via bank cards is the best option because it is not subject to any extra charge, whereas bank withdrawals may incur a $45 flat fee, and processing may take several days.
Please note that I did not deposit any real funds with FXCC for the purposes of this review.
| Deposit Method | Currencies | Fee | Processing Time |
| Bank Wire | USD, CAD | $0 | 5-7 business days |
| Credit/Debit Cards | USD, EUR, GBP, CAD | $0 | Within 1 hour |
| Skrill | USD, EUR, GBP, CAD | $0 | Within 1 hour |
| Neteller | USD, EUR, GBP, CAD | $0 | Within 1 hour |
| UnionPay | USD | $0 | Up to 24 hours |
| Awe Pay | MYR, IDR, VND | $0 | Up to 24 hours |
| Cryptocurrencies | BTH, ETH, USDT ERC-20, USDT BEP-20 | $0 | Within 15 minutes |
Note that if your deposit currency differs from your account base currency, you may have to pay a conversion fee.
| Withdrawal Method | Currencies | Fee | Processing Time |
| Bank Wire | USD, CAD | $45 | 5-7 business days |
| Credit/Debit Cards | USD, EUR, GBP, CAD | $0 | 5-10 business days |
| Skrill | USD, EUR, GBP, CAD | 2.7% | Up to 24 hours |
| Neteller | USD, EUR, GBP, CAD | 2.0% | Up to 24 hours |
| UnionPay | USD | Varied | Up to 24 hours |
| Awe Pay | MYR, IDR, VND | 3.4% | Up to 24 hours |
| Cryptocurrencies | BTH, ETH, USDT ERC-20, USDT BEP-20 | 2.0% | Within 15 minutes |
FXCC offers a universal trading account called ECN XL. Its unique pricing mechanism combines raw spreads from 0.0 pips and $0 commissions, which you won’t find at many brokers. Plus, there is no minimum deposit, and plenty of base currencies, including EUR, USD, GBP, or CAD. I consider FXCC’s ECN XL account one of the best options for casual, cost-conscious traders. It can also be calibrated into an Islamic account for swap-free trading.
To open an account with FXCC, follow these simple steps:
| Account Type | ECN XL |
| Spread From | 0.0 pips |
| Commission* | $0 |
| Base Currencies | EUR, USD, GBP, CAD |
| Minimum Deposit | $0 |
| Available Platforms | MT4, MT5 |
| Minimum Traded Volume | 0.01 lot |
| Standard Contract Size | 100,000 units |
| Margin Call | 100% |
| Stop Out | 50% |
| Swap Free Account | Yes |
| Demo Account | Yes |
*Round-turn per one full contract
FXCC’s ECN XL account delivers on all fronts. My fee test showed it has a very competitive pricing mechanism with zero commissions and spreads from 0.0 pips, plus a $0 minimum deposit requirement. I also confirmed that this account accommodates all major trading styles, including hedging, scalping, news trading, and algo trading via EAs.
The maximum retail leverage with FXCC is 1:1000, which is higher than the industry average of 1:500. It means that if you open a trade with a $100 margin and use the full 1:1000 leverage, you would be able to open a position worth $100,000.
A word of caution: Trading on margin with high leverage is extremely risky and may result in significant losses.
| Asset | Maximum Retail Leverage |
| Currency Pairs | 1:1000 |
| Metals | 1:1000 |
| Energies | 1:100 |
| Stocks | 1:10 |
| Indices | 1:1000 |
| Cryptocurrencies | 1:20 |
FXCC does not accept traders from the European Economic Area (EEA), Japan, the US, or any other jurisdiction where trading is prohibited by law.
FXCC has strengthened its research offering since my previous review, adding a variety of news alerts. The broker also provides an economic calendar and detailed technical and fundamental analyses. I awarded extra credit to FXCC for offering content primarily developed in-house – something that is becoming increasingly more rare in the industry. On the downside, the broker offers no third-party content, which would make the offering more nuanced.
FXCC’s economic calendar is available from the Trading Hub and is powered by TradingView. It allows you to screen upcoming market releases by relevance. You can also access consensus forecasts and previous numbers. I deem this tool very handy for news traders and volatility traders who need to track likely upcoming surges in market volatility.
The Market News segment is also powered by TradingView and available from the Trading Hub. It is one of the broker’s several news screeners and keeps you up to date on the latest market developments.
I found the tool most useful for contrarian traders because it alerts them to major make-or-break events, such as the USDJPY hitting a fresh 40-year low. Regarding this news alert, I opened the pair’s chart and examined its behavior around this major support level. Without it, I would not have been made aware of this opportunity for a major rebound.
Available for free from the website, the Forex News serves as a conventional news screener. Each publication includes a brief overview of a recent market development, such as the prospects for an uptick in volatility in Korean stocks and Michael Bury’s newest bearish bet.
Though insightful, I noticed that the Forex News section lacks the same direct application as the Market News screener, so do not expect to find any trading signals there.
For me, FXCC’s daily technical analyses are the most valuable materials. Available for free on the website, these analyses flag emerging trading opportunities across popular instruments. Each publication offers critical insights into the asset’s implied volatility, underlying traders’ sentiment, general market direction, key support and resistance levels, and more.
Day traders following viable trading opportunities would benefit from this content in particular. I found FXCC’s daily technical analyses a solid alternative to similar content offered by Trading Central and Autochartist.
The Morning Roll Call series is primarily aimed at traders who want to understand what drives the market, and why. These market breakdowns offer critical insights into general market correlations, including an overview of the recent US equities rally spurred by the end of the US Federal government’s shutdown.
FXCC’s Educational Center includes a handful of guidebooks, a blog, and several e-books. All materials are presented in the written format, so I felt the lack of video education. The coverage of topics is decent, and I appreciated that FXCC explores complex topics such as trading mentality. But overall, I found the offering narrower than what most other brokers in FXCC’s tier provide.
The Traders Corner Blog by FXCC contains dozens of articles across a wide variety of topics. These cover recent market trends, such as the US-Iran peace talks, or discuss the most common questions traders ask, such as what the minimum capital required to start trading is.
I read one such article on the difference between index and forex trading, and found it very informative. The author did a good job of defining the two concepts and who they fit best. For example, the article explains that implied volatility tends to be higher on indices and exotic FX pairs, but lower on FX majors.
The Major Economic Indicators guideline is the one unique segment that I haven’t seen with other brokers. It explains the 14 most important economic reports, such as Gross Domestic Product (GDP) and the Retail Sales Index, and what they mean in trading.
Each indicator is outlined briefly. You can learn about what it tracks, what it means for the economy, and how other traders use it. This will give you invaluable insights and prepare you to trade both proactively and reactively during major economic releases.
FXCC’s eBooks cover a wide spectrum of trading topics – from what trading strategy to use to building your own trading plan. I skimmed through the ‘Traders Mindset’ eBook, which I found the most useful of the bunch since it covers the most important topic.
It does a fine job of outlining the hidden dangers of emotional trading and common logical fallacies in trading, as well as showing you the ropes for trading the right way.
And while the broker does a fine job of explaining such complex issues, more rudimentary topics are not covered. For instance, I didn’t find any materials related to reading price action.
FXCC has also developed several guidebooks that cover the essence of key trading concepts, such as Electronic Communication Networks (ECN) trading, basic pairs trading, rollover, margin, slippage, and more. Think of this type of content as an on-hand glossary.
FXCC is an offshore broker operating out of the Comoros, where it is supervised by the local MISA. The broker is also licensed and regulated by CySEC in Cyprus. It was founded in 2010 and offers more than 1000 CFD instruments via MT4 and MT5.
My live testing revealed that FXCC delivers very competitive prices. It charges no commissions, and the spreads I recorded were tight on all popular assets, except for oil. The highlight of my testing was the $0 cost of trade on the EURUSD – I doubt you can get lower elsewhere. However, the swap fees exceeded the benchmark in my test, so I wouldn’t recommend FXCC for overnight trading.
The broker got my stamp of approval for its free VPS that would serve traders seeking the rapid execution speeds. I also appreciate the introduction of a copy trading service that affords signal followers greater control over their underlying risks.
On the software side, FXCC supports standard MetaTrader 4&5 packages, but it does not offer any alternative web/desktop platforms or mobile apps. I liked its in-house research materials that include daily technical analyses and market news, but the scope of the educational content could be broader.
Please note that for this review of FXCC, I did not:
Headquarters Country | Cyprus |
Foundation Year | 2010 |
Regulations | MISA (Comoros), CySEC (Cyprus) |
Publicly Traded | No |
Number Of Employees | 37 |
Trading Desk Type | STP, ECN |
Trading Platforms | MT4, MT5 |
Restricted Countries | United States, Canada, Iran, Myanmar, North Korea, Japan, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Sweden, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Lithuania, Latvia, Italy, Liechtenstein, Luxembourg, Malta, Spain, Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia |
Supported Languages | English |
Min Deposit | $0 |
Max Leverage | 1:1000 (MISA), 1:30 (CySEC) |
Deposit Options | Wire Transfer, Cryptocurrencies, Neteller, Skrill, Debit Card, Credit Card, Awe Pay, Union Pay |
Withdrawal Options | Wire Transfer, Cryptocurrencies, Neteller, Skrill, Debit Card, Credit Card, Awe Pay, Union Pay |
Time to Withdrawal | 1 |
Time to Open an Account | 8 |
Crypto | Ethereum, Monero, Bitcoin, Litecoin, Bitcoin Cash, Ripple, Dash, Zcash, Algorand, Aave, Avalanche, Axie Infinity, Binance Coin, Polkadot, enjincoin, Fantomcoin, Chainlink, Decentraland, Polygon, Shiba Inu, The Sandbox, Uniswap, Tezos |
Products | Currencies, Stocks, Crypto, Indices, Commodities |
Demo Account | Yes |
OCO Orders | No |
Offers Hedging | No |
Automated Trading | Yes |
API Trading | No |
Guaranteed Stop Loss | No |
Guaranteed Limit Orders | No |
Guaranteed Fills / Liquidity | No |
Economic calendar | Yes |
Trading From Chart | No |
One-Click Trading | Yes |
Expert Advisor | Yes |
Social Trading | Yes |
Autochartist | No |
Trading Signals | Yes |
Platform Languages | English |
24 Hours Support | Yes |
Support During Weekends | No |
Live Chat | Yes |
Daily Market Commentary | Yes |
News (Top-Tier Sources) | Yes |
Webinars | No |
Deposit Fee | No |
Withdrawal Fee | No |
Inactivity Fee | Yes |
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
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