Trading Experts’ Evaluation of FXCC’s Brokerage Performance
In a recent review by Traders Union (TU) experts, the spotlight was cast on FXCC, a well-known brokerage firm established in 2010. TU’s experts pointed out various findings regarding the firm’s offerings, weighing the advantages against the shortcomings.
Overview of FXCC’s standing
According to the assessment by Traders Union analysts, FXCC scored a modest 4.34 out of 10, indicating higher-than-average risks for traders. Out of 351 companies evaluated in the TU ranking, which reviews over 100 criteria, FXCC ranks at position 128. Furthermore, many of FXCC’s clients have reportedly expressed dissatisfaction with their services.
Although FXCC has had a decade-long presence in the market and bagged awards like “Best European STP Broker” in 2018, the brokerage seems to cater predominantly to active traders. They do not offer passive earning avenues via investment programs, a fact that may deter certain investors. The company is recognized and regulated by bodies such as the Vanuatu Financial Services Commission and the Cyprus Securities and Exchange Commission, which lends a degree of credibility to its operations, noted TU experts.
Trading dynamics at FXCC
TU report shows that FXCC offers a floating spread from 0.1 pips and a leverage of up to 1:300. Their range of tradable instruments is comprehensive, including currency pairs, cryptocurrencies, and more. However, there are notable disadvantages: their support service isn’t available during weekends, there are no cent accounts, no investment programs, and they lack MetaTrader 5 trading platform accessibility.
Anton Kharitonov observes that while FXCC has made strides in the market for over a decade, there are areas of concern. A recurring issue cited by clients is the sluggishness of funds withdrawal. However, on the positive side, their website supports over 100 languages, and the platform is equipped for active trading, complete with facilities for affiliate programs.
FXCC’s offering diversity
Where FXCC shines is in its offerings for traders. From real-time Forex live quotes to an extensive economic calendar, the broker ensures that traders have the tools they need, reported TU experts. Their focus is clearly on active trading with a variety of account types catering to different trading needs, from the ECN XL to the ECN Advanced.
According to TU experts’ findings, an aspect that stands out about FXCC is its commitment to trader education. The brokerage offers many resources, including articles, video lessons, webinars, and even an eBook. They emphasize the use of demo accounts for practical learning, minimizing financial risks for budding traders.
Security is a critical concern for any trader. FXCC is registered under notable regulatory bodies, ensuring a degree of trustworthiness. They also employ the SSL protocol for data protection and maintain segregated accounts for client funds. However, the absence of specific license documentation and compensation structures in the event of company liquidation is a drawback.
TU experts noted that while the broker offers diverse withdrawal options, transaction speeds can vary, with bank transfers potentially taking up to a week. Their customer support is accessible 24/5, albeit unavailable over weekends.
The detailed review by Traders Union experts paints a mixed picture of FXCC. While the broker has notable strengths, especially in terms of tools and resources provided to traders, the concerns regarding client satisfaction and certain operational aspects can’t be ignored. Traders are advised to weigh these findings and conduct their due diligence before committing to any trading platform. Check this TU Trading.com review to know what TU experts noted about the broker.