FXCC Forex Broker – FX Central Clearing Review
|Leverage||From 1:1 to 1:300|
|Minimum Lot Size||0.05 Lots|
|Deposit methods||Credit/Debit cards; Moneybookers; Neteller; Bank Wire, WebMoney|
|Spreads/Commission||Commission Based: 1.4 pips on Majors and 2 pips on crosses, per round trip
Commission Free: Spreads Only from 0.1
|Trading Platform||MT4 ECN, Multi Terminal, Web Trader, Mobile Trader, MAM|
FXCC forex broker, also known as FX Central Clearing is an ECN forex broker that offers retail forex trading to individual and institutional forex traders. Being an ECN forex broker, FXCC does not have a dealing desk thus making it possible for straight through processing. With no requotes and fast executions, FXCC forex broker makes for an ideal ECN forex broker to trade with.
FXCC forex broker is registered in Cyprus and is recognized by CySec (#121/10) as well as the FSA Register in the UK (549790). FXCC forex broker operates on a segregated account (omnibus) thus keeping the client accounts seperated from FXCC’s operating capital therefore providing further safeguard of client funds at FXCC. FXCC forex broker is also a member of the Investor Compensation Fund and as can be seen provides a safe and secure forex trading environment.
FXCC makes use of a “price aggregation engine” that automatically scans all the price feeds directly provided from FXCC’s liquidity providers made up of banks thus providing one of the best price quotes in the markets. This makes it possible for FXCC to provide extremely competitive spreads that are an accurate reflection of the financial markets.
FXCC’s portfolio comprises of a variety of currency pairs, that include exotics as well as Gold and Silver trading. FXCC’s super-fast execution is fast gaining popularity as one of the best ECN forex brokers in the markets.
FXCC Commission and Fees
Being an ECN forex broker, FXCC charges commissions on the trades whilst offering the most competitive spreads in the forex markets. At FXCC the cost of trading is a total sum of SPREAD + COMMISSIONS with the spreads starting as low as 0.1. This only applies to spread based or commission free accounts. On Commission based accounts, clients only pay the commission, not also the spread.
At FXCC, traders can choose between at Commission Based Account or Commission Free Account. Refer to the table below for examples of both types of accounts and the commissions charged by FXCC.
FXCC Commission Based Account
EUR/USD, commission charged is $14 (round trip)
AUD/NZD commission charged is $16 (round trip)
USD/CHF commission charged is$14 (round trip)
FXCC Commission Free Account
|EURUSD||1.35005||1.35010||1.35000||1.35015||0.5 Pip||1.4 Pips($14)||1.4+0.5=1.9 Pips|
FXCC Review of Trading Platforms
FXCC primarily offers the MT4 and Currenex trading platforms for the ECN trading. FXCC utilizes the MT4 ECN bridge technology, that makes it possible to trade on the MT4 trading platform. Additionally, FXCC forex broker also offers Currenex trading platform as well as the Mobile platforms to all its traders.
FXCC MT4 Platform
Given that MT4 is a popular choice for forex trading, FXCC’s MT4 ECN bridge makes it possible for traders to trade the ECN markets straight from the FXCC’s MT4 trading platform. Traders can also make use of the MT4 Expert advisors as well, however traders should note that the EA’s for MT4 ECN platform are different from the regular MT4 EA’s.
FXCC Multi Account Manager
Also known as the MAM accounts in forex terminology, FXCC’s MAM interface makes it easy for professional traders and asset managers to use the tools to keep their trading activity at FXCC simple and uncomplicated.
FXCC’s Multi Account Manager is suited for money managers and professional traders who require to trade on multiple accounts simultaneously..
FXCC Review – Customer Service
FXCC is headquartered in Cyprus and offers customer support in over 40 countries with toll free numbers. This makes FXCC very accessible from all over the world. Besides the toll free numbers and email support, FXCC also offers live chat on their website. Traders at FXCC can make use of this for quick responses to any queries they might have.
FXCC Review – Trading Tools
FXCC offers additional trading tools for their clients. These include the MYFX trading console, FXCC’s SMS alerts and free VPS hosting. In order to qualify to use the MYFX trading console or VPS hosting, FXCC traders need to maintain a net balance of $5,000 or its equivalent currency.
FXCC Review – To Conclude
Trading with Forex Central Clearing/FXCC forex broker is straightforward and easy. FXCC offers demo accounts on both MT4 and the Currenex trading platforms to get familiar with FXCC. FXCC demo accounts can be used to practice your trading especially if you are new to either the MT4 or the Currenex trading platforms.
FXCC forex broker offers a better overall forex trading experience. Trading forex with FXCC is an ideal way to invest on the currency markets. In conclusion of the FXCC review, we summarize the highlights.
- No Dealing Desk
- Choose between commission based or commission free account
- No Re-Quotes or price manipulation
- Lower Spreads
- No Trading Restrictions
- Multiple Platforms
- ECN Bridge for MetaTrader 4