FXCC, founded in 2010 and domiciled in Limassol, Cyprus
Investors Buz – Global Markets Roundup
FXCC, founded in 2010 and domiciled in Limassol, Cyprus, is a regulated Foreign Exchange Broker that offers a wide range of trading technologies and services. Their ECN/STP business model allows clients to take advantage of transparent real-time pricing.
An ECN, which stands for Electronic Communication Network, broker acts like a bridge linking smaller market participants with tier-1 liquidity providers.
FXCC is regulated by CySec, MiFID, FCA in the UK and ICF in Cyprus and caters to all levels of Forex traders looking for a full service ECN brokerage.
There are three different ECN/STP accounts to choose from at FXCC.
A deposit of $100 will open an ECN Standard account with leverage of 1:300. ECN XL requires a minimum deposit of $500 and the maximum leverage is 1:200. Anyone with $100,000 or more can open the ECN Advanced account.
All three accounts use the MetaTrader4 trading platform, receive 24 hour support and personal account manager. Traders can take advantage of Automated Trading/ Expert advisors, scalping and free technical analysis.
Currently FXCC offers its clients 30 currency pairs including Spot Gold and Silver with plans to add more financial instruments in the future.
Instead of a fixed spread, FXCC’s ECN/STP trading model has very tight variable spreads. This means the spread on offer will accurately reflect the true buying and selling rates for a particular currency pair and ensures investors are trading Forex under real Forex market conditions of supply and demand.
A Forex rollover/swap where interest is added or deducted for holding a position open overnight (Buy (Long) / Sell (Short) is available as is scalping.
At FXCC, clients may select their required leverage from 1:1 all the way up to 1:300.
Since transparency is important at FXCC, the team goes out of its way to explain the concept of slippage. Slippage is defined as the difference in pips between the order price and the execution price for a particular transaction. It’s a fairly normal Forex trading occurrence that is usually spoken of negatively. When it goes against the trader it can be bad, but slippage can also work in the trader’s favor and FXCC provides a complete description of how it works and when it can be a positive rather than a negative event.
Deposits to FXCC accounts can be done by bank wire, credit cards, Moneybookers, Neteller and WebMoney. All withdrawals are done using the withdrawal procedure of FXCC Finance Department.
The main bonus offered at the time of this review was the 100% welcome bonus which is available on the Standard trading account. FXCC also considers their ECN XL account to be a bonus as it offers traders the best of market Interbank spreads, zero commissions, zero swaps and zero mark-ups.
Orders in this account are executed immediately by going straight through to the processing department with No Dealing desk intervention and all orders are cleared through the pool of FXCC liquidity providers.
In addition, all FXCC account holders receive free personal 1 on 1 Forex training which covers topics such as platforms, navigation and more. All members also receive a free eBook that is suitable for experienced or new traders.
Previous bonuses included a 30% credit bonus and a 100% deposit bonus.Click here for reuse options!
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