FXCL Forex Broker

FXCLReview SummaryFounded2006Registered Country/RegionSaint Vincent and the GrenadinesRegulationVFSCMarket InstrumentsForex, indices, cryptocurrencies, metalsDemo Account✔LeverageUp to 1:2000SpreadLowTrading PlatformMT4 Margin WebTraderMin Deposit$1Customer SupportEmail: support@fxclearing.comRegistered 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 ConsPros Cons VFSC regulatedLimited customer support optionsWide range of currency pairs and trading instrumentsFixed spreadsLow minimum deposit of $1No Islamic trading accountEight types of trading accounts to choose fromNo MT5 supportedGenerous leverage up to 1:2000No phone number information offeredCompetitive spreads and low trading feesMT4 trading platform and webtrader supportedCopy trading availableDemo account availableIs FXCL Legit? FXCL is regulated by VFSC in Vanuatu. Its current status is revoked.Regulated CountryRegulated AuthorityRegulated EntityLicense TypeLicense NumberCurrent StatusVanuatuVFSCFXCL Markets LtdRetail Forex License14610RevokedWhat 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 TypeStart AccountCent AccountStandard AccountInterbank Cent AccountInterbank Standard AccountECN Pro AccountLive Contest AccountVolume Cash AccountLeverage1:20001:10001:5001:5001:5001:3001:10001:1000SpreadsFloating for full spread listFixed for fufor full spread listFixed for fufor full spread listFloating starting from 1.1 pip with a 5-digit price feed for full spread listFloating,starting from 1.1 pip with a 5-digit price feed for full spread listFloating, starting from 0.1 pip with a 5-digit price feedFloating for full spread listFloating for full spread listPosition Size0.01-1.00 (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)ExecutionMarketInstantInstant/MarketMarketMarketMarketAutomatic Market ExecutionAutomatic Market ExecutionFXCL 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 PlatformSupported Available Devices Suitable for MT4 Margin WebTrader✔Web, MobileBeginnerMT5❌Deposit and Withdrawal FXCL offers a lot of deposit and withdrawal methods.DepositMethodProcessing TimeFeesOnline bank (Asiabank)InstantN/ACrypto (Alphacoins)InstantN/APerfectMoneyInstantLow feesLocal DepositUp to 1 business dayLow feesFasaPayQuickFXCL provides full fee coverage for all Fasapay depositsDragonpayInstantN/AWithdrawalMethodProcessing TimeFeesOnline bank (Asiabank)InstantN/ACrypto (Alphacoins)InstantN/APerfectMoneyInstantLow feesLocal DepositUp to 1 business dayLow feesFasaPayQuickLow feesDragonpayInstantN/ACopy 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).