What is FXCC?
FXCC (Foreign Exchange Central Clearing) is an online forex broker that offers trading in various financial instruments, primarily focused on forex trading. The broker is known for its ECN (Electronic Communication Network) trading model, which provides direct access to the interbank market.
When Did It Start Operating?
FXCC was established in 2010.
Where Is Its Headquarters?
The broker is headquartered in Limassol, Cyprus.
In Which Countries Is It Restricted?
FXCC may be restricted in certain jurisdictions, including the United States, due to regulatory requirements. Traders should check the specific regulations applicable in their region.
Advantages:
- ECN Trading Model: FXCC operates on an ECN model, providing tight spreads and direct market access.
- Regulation: It is regulated by the Cyprus Securities and Exchange Commission (CySEC), offering a level of security for traders.
- No Dealing Desk: As an ECN broker, FXCC does not engage in dealing desk practices, which may reduce conflicts of interest.
- Variety of Account Types: Offers several account types to cater to different trading styles and preferences.
Disadvantages:
- Limited Range of Instruments: Primarily focused on forex, which may limit options for traders looking to diversify into other asset classes.
- Higher Minimum Deposit: Some account types may require a higher minimum deposit compared to other brokers.
Which Instruments Can I Trade?
You can trade a variety of instruments, including:
- Major and minor forex pairs
- Some commodities (such as gold and silver)
- Indices
What Is the Trading Fee?
FXCC typically charges spreads, which can be very low due to their ECN model. They do not charge commissions for standard trading but may have some fees for specific account types.
Does It Allow Scalping?
Yes, FXCC allows scalping. The ECN model is well-suited for traders who prefer short-term strategies.
Is There a Trading Platform?
Yes, FXCC offers the MetaTrader 4 (MT4) platform, which is widely used for forex trading. They also provide a web-based trading platform for added convenience.
Is Margin Trading Available?
Yes, FXCC offers margin trading with leverage options that can vary depending on the asset and regulatory jurisdiction, allowing traders to increase their exposure.
