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FXCL Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-24 12:00

Abstract：FXCL Markets Ltd operates from St. Vincent and the Grenadines and was previously regulated by the Vanuatu Financial Services Commission, although its license has been revoked. The company offers a range of trading account types with varying leverage options and spreads, and it utilizes the MetaTrader 4 (MT4) platform for trading across multiple devices. Tradable assets include Forex, Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities. While specific details like the founding year, minimum deposit requirements, and availability of demo or Islamic accounts are not provided, the broker offers email-based customer support and various payment methods. Educational resources include a Forex glossary and materials for both beginner and advanced traders.

FXCLReview Summary
Founded	2006
Registered Country/Region	Saint Vincent and the Grenadines
Regulation	VFSC
Market Instruments	Forex, indices, cryptocurrencies, metals
Demo Account	✔
Leverage	Up to 1:2000
Spread	Low
Trading Platform	MT4 Margin WebTrader
Min Deposit	$1
Customer Support	Email: support@fxclearing.com
Customer Support	Registered office: Plot 54368 Western Commercial Road, The Hub, Itowers, Cbd, Gaborone, Botswana.

FXCL Information

　　FXCL, founded in 2006, is a forex brokerage registered in Saint Vincent and the Grenadines. It is regulated by VFSC. Its current status is revoked. It charges no fees or commissions. Its leverage is up to 1:2000.

Pros and Cons

Pros	Cons
VFSC regulated	Limited customer support options
Wide range of currency pairs and trading instruments	Fixed spreads
Low minimum deposit of $1	No Islamic trading account
Eight types of trading accounts to choose from	No MT5 supported
Generous leverage up to 1:2000	No phone number information offered
Competitive spreads and low trading fees
MT4 trading platform and webtrader supported
Copy trading available
Demo account available

Is FXCL Legit?

　　FXCL is regulated by VFSC in Vanuatu. Its current status is revoked.

Regulated Country	Regulated Authority	Regulated Entity	License Type	License Number	Current Status
Vanuatu	VFSC	FXCL Markets Ltd	Retail Forex License	14610	Revoked

What Can I Trade On FXCL?

　　FXCL offers traders forex, indices, cryptocurrencies, metals to trade.

Tradable Instruments	Supported
Forex	✔
Indices	✔
Metals	✔
Cryptocurrencies	✔
Commodities	❌
Stocks	❌
Futures	❌
Options	❌

Account Types

　　FXCL offers 4 different types of accounts to traders - Start Account, Cent Account, Standard Account, Interbank Cent Account, Interbank Standard Account, ECN Pro Account, Live Contest Account, Volume Cash Account. It also provides demo accounts.

Account Type	Start Account	Cent Account	Standard Account	Interbank Cent Account	Interbank Standard Account	ECN Pro Account	Live Contest Account	Volume Cash Account
Leverage	1:2000	1:1000	1:500	1:500	1:500	1:300	1:1000	1:1000
Spreads	Floating for full spread list	Fixed for fufor full spread list	Fixed for fufor full spread list	Floating starting from 1.1 pip with a 5-digit price feed for full spread list	Floating,starting from 1.1 pip with a 5-digit price feed for full spread list	Floating, starting from 0.1 pip with a 5-digit price feed	Floating for full spread list	Floating for full spread list
Position Size	0.01-1.00 (standard lot)	0.01-200 (micro lot)	0.01-2.00 (standard lot)	0.01-500 (micro lot)	0.01-5.00 (standard lot)	0.01-50.00 (standard lot)	0.01-3.00 (standard lot)	0.01-3.00 (standard lot)
Execution	Market	Instant	Instant/Market	Market	Market	Market	Automatic Market Execution	Automatic Market Execution

FXCL Fees

　　FXCL's spreads are as low as 0 pips. FXCL charges low commissions. It charges $3 per lot for forex, metals, indices 0.15% per lot of Crypto when transaction happens in ECN Account and $1.5 per lot for forex, metals when transaction happens in Live Contest Account and Volume Cash Account. The min deposit is $1.

Trading Platform

　　FXCL's trading platform is MT4 Margin WebTrader, which supports traders on PC, Mac, iPhone and Android.

Trading Platform	Supported	Available Devices	Suitable for
MT4 Margin WebTrader	✔	Web, Mobile	Beginner
MT5	❌

Deposit and Withdrawal

　　FXCL offers a lot of deposit and withdrawal methods.

Deposit

Method	Processing Time	Fees
Online bank (Asiabank)	Instant	N/A
Crypto (Alphacoins)	Instant	N/A
PerfectMoney	Instant	Low fees
Local Deposit	Up to 1 business day	Low fees
FasaPay	Quick	FXCL provides full fee coverage for all Fasapay deposits
Dragonpay	Instant	N/A

Withdrawal

Method	Processing Time	Fees
Online bank (Asiabank)	Instant	N/A
Crypto (Alphacoins)	Instant	N/A
PerfectMoney	Instant	Low fees
Local Deposit	Up to 1 business day	Low fees
FasaPay	Quick	Low fees
Dragonpay	Instant	N/A

Copy Trading

　　FXCL's copytrading offers an opportunity to automatically follow good traders and monitor the markets.

　　Any FXCL client may open an ECN Copy Pro account as a Follower (hereinafter, Follower‘s Account).In order to open an ECN Copy Pro account as a Signal Provider (hereinafter, Provider’s Account), the client should verify the Traders Cabinet first and provide a link to his/her previous trading results on Myfxbook, MQL5 or FX Blue resource or upload an MT4 statement from his/her previous trading account (any account type from any broker is allowed).