FxCitizen Forex Broker

FxCitizen Review SummaryFounded2010Registered Country/RegionHong KongRegulationNo regulationMarket InstrumentsForex, Commodities, Indices, Cryptocurrencies, CFDsDemo Account✅LeverageUp to 1:500EUR/USD SpreadFrom 1.0 pips (Standard account)Trading PlatformMetaTrader 5 (MT5), FxCitizen Trade (proprietary app)Minimum Deposit$100Customer SupportPhone (HK): +852 560 72372Phone (Malaysia): +60 142 563 6528Email (Business): marketing@fxcitizen.comEmail (Finance): finance@fxcitizen.comFxCitizen Information FxCitizen started in 2010 and is situated in Hong Kong. No financial authority keeps an eye on it. The broker lets you trade more than 100 different things, such as FX, commodities, indices, and cryptocurrencies. FxCitizen has its own platform as well as MT5, and it offers Islamic (swap-free) and sample accounts.Pros and ConsProsConsOffers 100+ trading instrumentsNo regulationDemo accountsMT4 is not supportedProvides MT5 and proprietary FxCitizen Trade platformLimited information about deposit and withdrawalIs FxCitizen Legit? FxCitizen is not a licensed broker. The Securities and Futures Commission (SFC) in Hong Kong does not have any records of FxCitizen being licensed or permitted, even though the company is registered there. WHOIS indicates that fxcitizen.com was registered on November 29, 2010, is still alive, and is safe from alterations that aren't allowed. FxCitizen does not have any governmental control, which is a big danger for investors.What Can I Trade on FxCitizen? FxCitizen has more than 100 trading tools in a variety of asset classes. Contracts for Difference (CFDs) let traders trade major and minor FX pairs, precious metals like gold and silver, global stock indices like the S&P 500 and NASDAQ 100, and cryptocurrencies like Bitcoin and Ethereum.Tradable Instruments Supported Forex✔CFDs✔Commodities✔Indices✔Cryptos✔Stocks❌Bonds❌Options❌ETFs❌Account Type FxCitizen has three kinds of live trading accounts: Standard, Professional, and Subsidized. With leverage up to 1:500, each account can trade the same kinds of instruments, such as FX, metals, cryptocurrencies, energy, stocks, and indices. All accounts allow trading without swaps (Islamic), and there is also a demo account for practice.Account TypeStandard AccountProfessional AccountSubsidized AccountMinimum Deposit$100$3,000$10,000LeverageUp to 1:500SpreadFrom 1.0 pipsFrom 0.5 pipsFrom 0.0 pipsCommission❌❌Average $10 per lot (one-way)Min Lot Size0.01Max Lot Size20Max Position Size40Hedging Margin0%Margin Call30%Stop Out0%Execution TypeInstant (non-crypto), Market (crypto)Market ExecutionSwap-Free Option✔Leverage FxCitizen offers maximum leverage of up to 1:500 across all account types. This high leverage lets traders open big positions with a modest deposit, which could increase their winnings. But more leverage also makes the risk much larger.FxCitizen Fees FxCitizen's trading fees are lower than most other companies' fees, especially for new accounts. There are no commissions on Standard and Professional accounts, and the spreads start at 1.0 and 0.5 pips, respectively. The Subsidized Account has raw spreads starting at 0.0 pips and a cost of about $10 per lot one way, which is normal for ECN-style accounts. Trading FeesAccount TypeSpread (EUR/USD)CommissionStandardFrom 1.0 pips❌ProfessionalFrom 0.5 pips❌SubsidizedFrom 0.0 pipsAverage $10 per lot (one-way) Swap Rates FxCitizen only lets registered members trade most main instruments without paying interest overnight (swap-free). For others, standard swaps apply (e.g., USD/JPY shows long: +4.165, short: -24.761). Non-trading FeesNon-trading Fees DetailDeposit Fee ❌Withdrawal Fee ❌Inactivity Fee Not mentionedTrading PlatformTrading PlatformSupportedAvailable DevicesSuitable for What Kind of TradersMetaTrader 5 (MT5)✔iOS, Android, Mobile/TabletExperienced tradersFxCitizen Trade (In-house app)✔iOS, Android/MetaTrader 4 (MT4)❌/BeginnersDeposit and Withdrawal FxCitizen does not charge deposit or withdrawal fees. The minimum deposit is $100 for the Standard Account. Independent wallet addresses ensure 99% of withdrawals are completed within 15 minutes.