CXC Forex Broker

Aspect Information Registered Country/Area Saint Vincent and the Grenadines Founded Year 2-5 years Company Name CXCMarkets Group Regulation No valid regulatory information, please be aware of the risk! Minimum Deposit $100 for Micro account Maximum Leverage Up to 1:1000 Spreads Micro Account: From 1.3 pips, Zero Account: From 0 pips, Standard Account: From 1.3 pips Trading Platforms MetaTrader 4, Web Trader Tradable Assets Forex currency pairs, precious metals, cryptocurrencies, stock index CFDs Account Types Micro Account, Zero Account, Standard Account Demo Account Available Islamic Account Not specified Customer Support Online support available 24/7 in multiple languages; Email support Payment Methods Bank cards, Bitwallet (including Bitcoin, Litecoin, Ripple) Overview of CXC CXC is a trading platform known as CXCMarkets and Tech-FX, which recently underwent a brand merger and upgrade. However, it's important to note that CXC is not regulated by any financial regulatory authority, which means there is no government oversight or customer protection. This lack of regulation poses a higher risk of fraud or financial losses for traders. CXC offers a range of market instruments, including forex currency pairs, precious metals, cryptocurrencies, and stock index CFDs. Forex currency pairs allow traders to speculate on exchange rate fluctuations, while precious metals and cryptocurrencies provide opportunities to benefit from price movements and global events. Stock index CFDs offer exposure to broader market trends. CXC provides different account types, such as the Micro Account, Zero Account, and Standard Account, each with its own features and benefits. The leverage offered by CXC is up to 1:1000, allowing traders to control larger positions with a smaller initial investment. Spreads and commissions vary across account types, and the minimum deposit starts at $100 for the Micro Account. CXC offers the MetaTrader 4 platform and a web trader platform for trading activities. Customer support is available online through email, but no telephone number is provided for inquiries. Reviews about CXC are mixed, with some users expressing satisfaction with trading conditions and others reporting server issues and problems with payments. In conclusion, CXC is an unregulated trading platform that offers various market instruments and account types. Traders should be cautious due to the lack of regulation and the associated risks. It's advisable to consider other factors and conduct thorough research when evaluating a broker. Pros and Cons CXC, operating as CXCMarkets and Tech-FX, presents a range of pros and cons for potential traders to consider. On the positive side, CXC offers a diverse selection of market instruments and different account types, along with leverage of up to 1:1000. Traders can access MetaTrader 4 and a web trader platform, benefiting from online customer support available around the clock. Additionally, CXC provides various deposit and withdrawal methods, accommodating different trader preferences. However, there are significant drawbacks to consider. Notably, CXC lacks regulation from any financial authority, increasing the risk of fraud or financial losses. Additionally, the absence of an official website raises transparency concerns, limiting access to essential information. Mixed user reviews and a suspicious regulatory license further contribute to the overall evaluation of CXC's potential as a reliable broker. Pros Cons Offers a variety of market instruments Not regulated by any financial regulatory authority Different account types available Higher risk of fraud or financial losses Leverage of up to 1:1000 Limited deposit and withdrawal options Customer support available in multiple languages No official website available Online customer support available 24/7 No telephone customer support Provides access to MetaTrader 4 platform Mixed user reviews Offers a web trader platform for browser-based trading Lack of transparency due to no regulatory information Is CXC Legit？ CXC. is not regulated by any financial regulatory authority. This means that there is no government agency that oversees CXC.'s activities or protects its customers. As a result, there is a higher risk of fraud or other financial losses when trading with CXC. Market Instruments CXC Markets is a trading platform that offers a variety of market instruments for investors. These instruments include forex currency pairs, precious metals, cryptocurrencies, and stock index CFDs. FOREX CURRENCY PAIRS: CXC Markets provides trading services for forex currency pairs. Forex, also known as foreign exchange, involves the buying and selling of different currencies. Traders can speculate on the exchange rate fluctuations between currency pairs, such as EUR/USD or GBP/JPY. The forex market is known for its high liquidity and round-the-clock trading, allowing investors to take advantage of global economic trends. PRECIOUS METALS: CXC Markets also offers trading opportunities in precious metals. Precious metals, including gold, silver, platinum, and palladium, are valued for their rarity and industrial uses. Traders can speculate on the price movements of these metals, taking advantage of market fluctuations and global events that impact supply and demand. Precious metals are often considered a safe haven investment during times of economic uncertainty. CRYPTOCURRENCY: CXC Markets enables trading in cryptocurrencies, which are digital or virtual currencies. Cryptocurrencies like Bitcoin, Ethereum, and Litecoin have gained significant popularity in recent years. Traders can participate in the price movements of cryptocurrencies, taking advantage of their volatility. Cryptocurrency markets operate 24/7 and provide opportunities for both short-term trading and long-term investment. STOCK INDEX CFD: CXC Markets offers trading in stock index contracts for difference (CFD). A stock index represents the performance of a group of stocks from a specific market or sector. With stock index CFDs, traders can speculate on the price movements of the entire index without owning the underlying assets. This allows for greater ability to take both long and short positions. Stock index CFDs provide exposure to broader market trends and are popular among traders seeking diversification. Pros Cons Offers diverse market instruments Not regulated by any financial regulatory authority Access to forex currency pairs Higher risk of fraud or financial losses Availability of precious metals trading Limited information on risk management and regulatory index Enables trading in cryptocurrencies Lack of transparency due to no regulatory information Offers stock index CFDs for broader market exposure Limited information on software index and licenses Account Types CXC offers a range of account types to cater to the diverse needs of traders. These accounts include the Micro Account, Zero Account, and Standard Account. Each account type has its own unique features and benefits. MICRO ACCOUNT: The Micro account offered by CXC is designed for traders who prefer smaller trading volumes. With a maximum leverage of 1:500, traders can amplify their trading positions. The minimum deposit required for this account is 10,000 JPY, and the minimum spread starts from 1.3 pips. Traders can trade various products, particularly focusing on currency trading. The minimum position size is 0.01 lots, and the account supports the use of Expert Advisors (EAs). CXC provides deposit and withdrawal methods for this account type, although specific methods are not mentioned. No commission is charged for trades executed in the Micro account. ZERO ACCOUNT: With a maximum leverage of 1:500, traders can have increased trading power. The minimum deposit required for this account is 100 USD, and the minimum spread starts from 0 pips. Similar to the Micro account, traders can access a wide range of products, mainly focusing on currency trading. The minimum position size is 0.01 lots, and Expert Advisors (EAs) are supported. Traders using the Zero account will be charged a commission of 8 USD per trade. STANDARD ACCOUNT: The Standard account offered by CXC caters to traders looking for a more flexible trading experience. With a maximum leverage of 1:500, traders can enhance their trading potential. The minimum deposit required for this account is 100 USD, and the minimum spread starts from 1.3 pips. Traders can access a variety of products, particularly focusing on currency trading. The minimum position size is 0.01 lots, and the account supports the use of Expert Advisors (EAs). No commission is charged for trades executed in the Standard account. Pros Cons No commission charged in Micro and Standard accounts Lack of transparency on deposit and withdrawal methods Access to a wide range of trading products Limited information on specific deposit/withdrawal methods Support for Expert Advisors (EAs) Commission charged for trades in Zero account Leverage Leverage refers to the borrowing of funds to increase the potential return on an investment. CXC Markets offers a maximum leverage of 1:1000 for forex trading, which provides traders with the opportunity to control larger positions with a smaller initial investment. This high leverage allows traders to potentially magnify their profits. Spreads & Commisions CXC offers varying spreads and commission structures across its account types. The Micro Account has a minimum spread of 1.3 pips with no commission, while the Zero Account provides spreads starting from 0 pips but charges a commission of 8 USD per trade. The Standard Account also has a minimum spread of 1.3 pips but does not charge any commission. Traders can choose the account type that aligns with their trading preferences and cost considerations. Minimum Deposit The Trading Platform offered by CXC provides an accessible and user-friendly interface for traders. It caters to various account types, with the minimum deposit set at $100 for the Micro account. The platform ensures that traders can engage in their preferred trading activities. Additionally, different account tiers are available, requiring deposits of $500, $1,000, and $10,000, respectively, offering a range of options to suit individual trading preferences. Deposit & Withdrawal Deposit and withdrawal options at CXC Markets are straightforward but limited. Traders can fund their accounts using two main methods: bank cards and Bitwallet, which includes cryptocurrencies such as Bitcoin, Litecoin, and Ripple. While these options provide a means of transferring funds, it is important to note that using cryptocurrencies for funding comes with inherent risks. Unlike traditional payment methods, such as bank cards, there is no possibility of initiating a chargeback in case of an issue or error. Therefore, caution should be exercised when choosing to use cryptocurrencies for depositing and withdrawing funds from CXC Markets. Pros Cons Supports Bit wallet for cryptocurrency transfers Limited deposit and withdrawal options Availability of bank card payments Using cryptocurrencies for funding carries inherent risks No possibility of initiating a chargeback with cryptocurrency transactions Trading Platforms CXC Markets offers a range of trading platforms to meet the diverse needs of its users. META TRADER 4 PLATFORM: CXC Markets provides access to the MetaTrader 4 trading platform, a highly regarded and widely used platform in the brokerage industry. This platform offers numerous trading tools and instruments that enhance the trading experience. Some notable features include a financial calendar, virtual private server (VPS) capabilities, trading signals (available for a subscription fee), a code base with customizable scripts, and a demo account for practice. WEB TRADER: In addition to MetaTrader 4, CXC Markets also offers a web trader platform. This web-based platform allows traders to access their accounts and execute trades directly through a web browser. It provides an option for traders who prefer not to download and install trading software on their devices. The web trader platform offers similar functionality to the MetaTrader 4 platform, allowing for seamless trading experiences. Pros and Cons Pros Cons MetaTrader 4 platform, widely used in the brokerage industry No mention of specific innovative features or advanced tools Web trader platform for browser-based trading Lack of information on additional platform functionalities Demo account for practice and testing No mention of integrated educational resources or tutorials Virtual private server (VPS) capabilities for enhanced trading Limited information on platform customization options Customer Support CXC Markets provides customer support through various channels to cater to the needs of their clients. Their online support is available 24/7, 365 days a year, and can be accessed in multiple languages such as Japanese, English, French, Chinese, and Korean. Clients can reach out to them via email at support@cxcmarkets.com. However, they do not provide a telephone number for customer inquiries. This approach ensures that clients can easily communicate with CXC Markets and receive assistance promptly. Reviews Based on the reviews on WikiFX, there are mixed opinions about CXC. One user expressed satisfaction with the various trading conditions provided by CXC, such as a wide variety of trading products, high leverage of up to 1:1000. They were eager to open a demo account and potentially invest in instruments offered by the broker. However, another user had a negative experience, mentioning server issues that resulted in missed profits. They suspected intentional server shutdowns or problems with payment orders. It is important to note that these reviews reflect individual experiences and should be considered alongside other factors when evaluating a broker. Conclusion In conclusion, CXC is a trading platform that offers various market instruments such as forex currency pairs, precious metals, cryptocurrencies, and stock index CFDs. However, it is important to note that CXC is not regulated by any financial regulatory authority, which means there is no government oversight or customer protection. This lack of regulation increases the risk of fraud or financial losses for traders. While CXC provides different account types with features like leverage and low spreads, the limited deposit and withdrawal options and mixed user reviews raise concerns about the reliability and quality of their services. Traders should carefully consider these factors and exercise caution when dealing with CXC. FAQs Q: Is CXC a regulated broker？ A: No, CXC is not regulated by any financial regulatory authority, which increases the risk of trading with them. Q: What market instruments are available on CXC？ A: CXC offers trading in forex currency pairs, precious metals, cryptocurrencies, and stock index CFDs. Q: What are the account types offered by CXC？ A: CXC offers Micro, Zero, and Standard accounts, each with its own features and benefits. Q: What is the maximum leverage offered by CXC？ A: CXC provides a maximum leverage of 1:1000 for forex trading. Q: What are the deposit and withdrawal methods supported by CXC？ A: CXC supports deposits through bank cards and Bitwallet, including cryptocurrencies like Bitcoin, Litecoin, and Ripple. Q: What trading platforms are available on CXC？ A: CXC offers the MetaTrader 4 platform and a web trader platform. Q: How can I contact CXC's customer support？ A: You can contact CXC's customer support through email at support@cxcmarkets.com.