FXCC RATING -OVERALL SCORE {68.27%} (?)

 

FXCC is an ECN/STP broker regulated by the FCA UK and the Cypriot CySEC. FXCC is audited by Deloitte.

Deposit Requirements: 100 USD for regular accounts | 500 USD for ECN XL accounts

Funding: Cards | Bank Wire | Neteller | Skrill | WebMoney

Platforms: MetaTrader-4 | MultiTerminal | Mobile Traders

Customer Support: English | Arabic | Spanish | Chinese | French | Greek | Hungarian | Slovak | Romanian

» FXCC Website » FXCC Review

Chart: FXCC Basic Ratings (Based on ForexRating Formula 5.0)

The RatingFormula 5.0 gives a very good rating score as concerns FXCC 'Safety of Money' and 'Technology' but a poor rating score as concerns FXCC 'Competition' and 'Trading Options'.

Chart: FXCC Special Ratings

FXCC RATING SUMMARY

The following table contains FXCC's rating summary based on (i) three rating aspects, (i) three experience levels, and (iii) three trading styles.

FOREX BROKER RATING (MAX 100%)
  • FXCC FUNDS SAFETY
84.9%
  • FXCC TRANSACTION COST
44.6%
  • FXCC TRADING OPTIONS AVAILABLE
57.1%
  • FXCC TECHNOLOGY
100.0%
  • OVERALL RATING
68.27%
TRADING EXPERIENCE  
  • FXCC FOR FOREX BEGINNERS
66.6%
  • FXCC FOR ADVANCED FOREX TRADERS
63.2%
  • FXCC FOR PROFESSIONAL FOREX TRADERS
63.6%
TRADING STYLE  
  • FXCC FOR INTRADAY TRADERS
70.7%
  • FXCC FOR SWING TRADERS (MID-TERM)
58.5%
  • FXCC FOR CARRY TRADERS (LONG-TERM)
36.4.%

FXCC DETAILED RATING REVIEW

FXCC RATING ANALYSIS    
FXCC TOTAL RATING   100.0% FXCC
      68.27% FULL ANALYSIS
A. FXCC  SAFETY OF FUNDS MAX WEIGHT→ 28.0% 23.77% Rating the FXCC Safety
A.1 FXCC License / Regulation FCA (UK) = 10.0% | FINMA (Swiss) = 10.0% | NFA/CFTC (US) = 10.0% | BAFIN (GE) = 8.0% | ASIC (AU) = 8.0% | FSC (NZ) = 6.0% | CYSEC (Cyprus) = 6.0% | HCMC (GR) = 3.0% | FSC (BVI) = 1.0% | MiFID (EU) = +0.5% rating 10.0% 10.00% FXCC is regulated by the FCA (UK) = 10% rating | CySEC = 6.0% rating, MiFID Rating = +0.5% | Total (max) = 10.0%
A.2 FXCC Client Compensation in Case of Insolvency Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0%
5.0% 4.00% FXCC offers client compensation (in case of insolvency) up to 20,000 EUR through ICF = 4.0% rating
A.3 FXCC Country of Headquarters UK, USA, Germany, France, Canada, Switzerland, and similar = 5.0% rating | Australia, New Zealand  = 4.0% rating | Ireland, Spain, Italy, Cyrpus, and similar countries = 3.0% rating | Greece, Malta, South Africa = 2.0% rating | Offshore Countries = 0% 5.0% 3.00% FXCC is based in Cyprus = 3.0% rating
A.4 FXCC Years in the Market 10+ Years of Operation = 5.0% rating | 5-10 Years of Operation = 4.0% rating | 2-5 Years of Operation = 2.0% rating | 0-2 Years of Operation = 0% 5.0% 4.00% FXCC was found in 2010 (5-10 years) = 4.0% rating
A.5 FXCC Client Account Segregation Client bank account segregation =  2.5% rating | No = 0.0% 2.5% 2.50% FXCC provides full client bank account segregation = 2.5%
A.6 FXCC Web Ratings ForexPeaceArmy Rating = 0.5% rating 0.5% 0.27% FXCC ForexPeaceArmy Rating is 2.7/5.0 = 0.27% rating
A.7 (+) FXCC ADJUSTING RESULTS        
A.7.1 FXCC Corporate Size 1 million Trading Accounts = +1.0% rating | 500,000+ Accounts = +0.5% rating | 250,000+ Accounts = +0.25% rating 1.0% 0.00% FXCC handles less than 250,000 accounts = 0% Rating
B. FXCC TRANSACTION COST MAX WEIGHT→ 28.0% 12.50% Rating the FXCC Transaction Cost
B.1 FXCC spread on EURUSD <0.3 pip = 7.0% rating | <0.4 pip = 6.5% | <0.5 pip = 6.0% | <0.6 pip = 5.5% | <0.7 pip = 5.0% | <0.8 pip = 4.5% | <1.0 pip = 4.0% | <1.25 pip = 3.5% | <1.50 pip = 3.0% | <1.75 pip = 2.5% | <2.00 pip = 2.0% | <2.25 pip = 1.5% | <2.50 pip = 1.0% | <2.75 pip = 0.5% 7.0% 2.00% Typical FXCC EURUSD spread is 1.9 pip = 2.0% rating
B.2 FXCC spread on GBPUSD <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating 4.5% 0.00% Typical FXCC GBPUSD spread is 3.1 pips = 0.0% rating
B.3 FXCC spread on USDJPY <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating 4.5% 0.50% Typical FXCC USDJPY spread is 2.7 pips = 0.5% rating
B.4 FXCC Trade Commissions No Commissions = 7.0% rating | Commissions < $1.0 / lot = 6% rating | < $1.5 / lot = 5% rating | < $2.0 / lot = 4% rating | < $3.0 / lot = 3% rating | < $4.0 / lot = 2.0% rating | < $5.0 / lot = 1% rating |  < $6.0 / lot = 0.5% rating | Higher Commissions = 0% rating  7.0% 7.00% No commissions on tested account type
B.5 FXCC Overnight (SWAP) rates Cost < $1.5 = 2.00% rating | Cost < $2.0 = 1.75% | Cost < $2.5 = 1.50% | Cost < $3.0 = 1.25% | Cost < $3.5 = 1.00% | Cost < $4.0 = 0.75% | Cost < $4.5 = 0.50% | Cost < $5.0 = 0.25% 2.0% 0.00% FXCC rollover on a Long EURUSD trade worth 1 lot ($100,000) is -$6.5 | FXCC rollover on a Short EURUSD trade worth 1 lot ($100,000) is -$0.2 | Total cost in absolute value is $6.7, rating = 0.50%
B.6 FXCC Commissions on Funding No Funding Fees = 2.0 % rating | One (1) Free Withdrawal Per Month = 1.0 % rating | Funding Fees Without Free Withdrawal = 0 % rating  2.0% 0.00% FXCC charges withdrawal commissions = 0.0% rating
B.7 FXCC Inactive Fees No Inactive Fees = 1.0 % rating | Yes Inactive Fees = 0 % rating 1.0% 1.00% FXCC does not charge Inactive Fees  = 1.0% rating
B.8 (+) FXCC ADJUSTING RESULTS        
B.8.1 FXCC Execution Model ECN Execution = +2.0 % rating | STP = +1.5 % rating | Dealing Desk = +0.0% rating 2.0% 2.00% ECN Order Execution Model = +2% rating
C. FXCC TRADING OPTIONS MAX WEIGHT→ 28.0% 16.00% Rating the FXCC Options for Traders
C.1 FXCC Forex Asset Index 45+ Pairs = 8.0% rating | 40+ Pairs = 7.0% rating | 35+Pairs = 6.0% rating | 30+ Pairs = 5.0% rating | 25+ Pairs = 4.0% rating | 20+ Pairs = 3.0% rating | 15+  Pairs = 2.0% rating | 10+ Pairs = 1.0% rating | Less than 10 Pairs = 0% rating 8.0% 4.00% FXCC offers 28 Forex pairs = 4.0% rating
C.2 FXCC CFDs CFD Trading on MT4 = 2.5% rating | CFD Trading on WebTrader = 1.5% rating | No CFDs = 0.0% 2.5% 2.50% FXCC provides trading on CFD contracts = 2.5% rating
C.3 FXCC CFDs on Futures CFDs on Futures = 1.5 % rating | No CFDs on Futures = 0.0 % rating 1.5% 0.00% No CFDs on Futures = 0.0% rating
C.4 FXCC Free Practice Account Practice Account = 2.0 % rating, No = 0.0 % rating 2.0% 2.00% FXCC Provides a Practice account = 2.0% rating
C.5 FXCC Trading Leverage Leverage > 100:1 = 1.0% rating | Leverage > 75:1 =0.75% rating Leverage > 50:1 = 0.5% rating 1.0% 1.00% 300:1 max Trading Leverage = 1.0% rating
C.6 FXCC Bonus/Rebate Promotions   5.0%    
C.6.1 FXCC Welcome Bonus (%) Welcome Bonus >50% = 5% rating | Bonus >40% = 4% rating | Bonus >30% = 3% rating | Bonus >20% = 2% rating | Bonus >10% = 1% rating   0.00% No Welcome Bonus = 0.0% rating
C.6.2 FXCC Trading Rebate (%) Trading Rebate >30% = 5% rating | Rebate >25% = 4% rating | Rebate >20% = 3% rating | Rebate >15% = 2% rating | Rebate >10% = 1% rating | Rebate >5% = 0.5% rating   0.00% FXCC Offers no trade rebates = 0% rating
C.7 FXCC Min. Account Size Min Account < $100 = 2.00% | Min Account < $250 = 1.50% rating | Min Account < $500 = 1.00% rating | Min Account < $1,000 = 0.50% rating 2.0% 2.00% The min. deposit amount is $100 = 2.0% rating
C.8 FXCC Number of Deposit Methods For every deposit method = 0.5% rating | max = 5 methods 2.5% 2.50% FXCC offers 5+ deposit methods = 2.5% rating
C.9 FXCC Number of Withdrawal Methods For every withdrawal method = 0.5% rating | max = 5 methods 2.5% 1.00% FXCC offers only two withdrawal methods (cards, bank wire) = 1.0% rating
C.10 Minimum Stop-Order Levels (in pips) 2 pips or less = 1% rating | 3 pips or less = 0.5% rating | 4 pips or less = 0.25% rating 1.0% 1.00% FXCC offers less than 2 pips minimum stop-out order distance = 1.00% rating
C.11 (+) FXCC ADJUSTING RESULTS        
C.11.1 Offering more than 100 Forex Pairs Offering more than 100 Pairs = 1.0 % rating / No = 0 % rating 1.0% 0.00% 28 Forex Pairs = +0% rating
C.11.2 Paying Interest on unused funds Paying interest on Unused Funds = 0.50 % rating No = 0.0 % rating 0.5% 0.00% No = 0%
C.11.3 FXCC Contests Contests = 0.25 % rating | No = 0 % rating 0.25% 0.00% No = 0%
D. FXCC TECHNOLOGY MAX WEIGHT→ 16.0% 16.00% Rating the FXCC Technological Efficiency
D.1 FXCC Trading Platforms Availability For every Platform = 1.0% | max = three (3) platforms 3.0% 2.00% 2 trade platforms: MetaTrader-4, MetaTrader Multi-Terminal = 2.0% rating
D.2 Trading-On-Charts Offering Trading-On-Charts = 1.0 rating | No=0% 1.0% 1.00% FXCC is offering 'Trading-On-Charts' = 1.0% rating
D.3 FXCC Slippage on Execution Slippage < 1.00 pip = 1.0% rating | < 1.25 pip = 0.75% rating | < 1.50 pip = 0.5% rating | < 1.75 pip = 0.25% rating 1.0% 0.50% FXCC Slippage on execution is less than 1.5 pip = 0.5% rating
D.4 FXCC Automated Trading Allowance Automated Trading is Allowed = 2.0 % rating  / No = 0 % rating 2.0% 2.00% FXCC allows automated trading = 2.0% rating
D.5 FXCC MT4 Platform Availability MT4 is Provided = 2.0 % rating / No = 0 % rating 2.0% 2.00% FXCC offers the MT4 platform = 2.0% rating
D.6 FXCC Mobile Apps iOs= 1% rating | Android = 1% rating | Windows Mobile is 0.5% rating | max = 2% rating points 2.0% 2.00% FXCC offers an MT4 App for iPhone and Android = 2.0% rating
D.7 FXCC Allowing Scalping / Hedging Yes, both are allowed = 1.0 % rating | Only Hedging / Scalping = 0.5% rating | Both are Forbidden = 0 % rating 1.0% 1.00% FXCC fully allows Scalping and Hedging = 1.0% rating
D.8 FXCC Customer Service 24/7 Support = 1.0 % rating | 24/6 Support = 0.5 % rating | 24/5 Support = 0 % rating | email support = 1.0% rating | Phone support = 1.0 %. | Live Chat support = 1.0% | Skype support = 1.0 % | Forum support = 1% | Call-Back = 0.5 % rating 4.0% 4.00% FXCC offers 24/5 support = 0%, via eMail, Phone, Live Chat | Total rating is 4.0%
D.9 (+) FXCC ADJUSTING RESULTS        
D.9.1 FXCC PAMM / MAM Accounts PAMM / MAM Accounts = 0.5% rating | No = 0 % rating 0.5% 0.50% FXCC offer a MAM account type = +0.5% rating
D.9.2 FXCC Free VPS Free VPS = +0.5% rating | No = 0 % 0.5% 0.50% Yes, Free VPS under policy = 0.5%
D.9.3 FXCC API Trading API trading = 0.5 % rating | No API = 0.0 % rating 0.5% 0.50% FXCC provide an API interface  = +0.5%
    TOTAL FXCC RATING 68.27%  

 

FXCC LICENSES AND LEGAL INFORMATION

■ FXCC is the trading name of FX Central Clearing Ltd, based in Cyprus

■ FXCC is regulated by CySEC (Cyprus), Registration Number: 121/10, and controlled by MiFID (EU)

■ FXCC is regulated also by FCA (UK), Registration Number: 549790

■ FXCC is a member of ICF and covers up to 20,000 EUR per client in case of corporate insolvency

■ FX Central Clearing Ltd is audited by Deloitte

 

 

■ MORE RATINGS: » HOTFOREX | » ICMARKETS | » DUKASCOPY (EU)

 

FXCC Rating Review

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