CXC Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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The various trading conditions provided by this company CXC make me feel great, such as a wide variety of trading products, leverage up to 1:1000, and very tight spreads. I can't wait, I'm going to open a demo account and try it out. If there is no big problem, I will invest some instruments here.
CXC Markets, an online trading platform, has garnered mixed reviews among users and experts alike. While it offers a variety of trading instruments and high leverage options, the lack of regulation raises significant concerns about its trustworthiness and reliability. This review will delve into the key features and user experiences associated with CXC, providing a comprehensive overview of what traders can expect.
Note: Its crucial to understand that CXC operates across different jurisdictions, and the lack of a solid regulatory framework can pose risks for traders. This review aims to present a balanced view based on various sources to ensure fairness and accuracy.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 5 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 3 |
| User Experience | 4 |
| Overall | 4.6 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert opinions, and factual data regarding the broker's offerings.
CXC Markets, established between 2015 and 2018, is registered in Saint Vincent and the Grenadines. This broker provides access to various trading platforms, including the popular MetaTrader 4 (MT4) and a web-based trading platform. The range of tradable assets includes forex currency pairs, precious metals, cryptocurrencies, and stock index CFDs. However, it is essential to note that CXC lacks regulation from any significant financial authority, which raises concerns about the safety of traders' funds.
Regulatory Regions: CXC is primarily registered in Saint Vincent and the Grenadines. The lack of regulation from major financial authorities means that traders have limited recourse in case of disputes or issues with the broker.
Deposit/Withdrawal Currencies/Cryptocurrencies: Traders can deposit and withdraw using bank cards and Bitwallet, which supports cryptocurrencies like Bitcoin, Litecoin, and Ripple. However, the options are somewhat limited compared to other brokers.
Minimum Deposit: The minimum deposit required to open an account with CXC is $100, which is relatively accessible for new traders looking to enter the forex market.
Bonuses/Promotions: CXC does not appear to offer any significant bonuses or promotional offers, which may be a downside for traders seeking added incentives to start trading.
Tradable Asset Classes: The broker offers a diverse range of assets, including forex, precious metals, cryptocurrencies, and stock index CFDs. This variety allows traders to diversify their portfolios and explore multiple market opportunities.
Costs (Spreads, Fees, Commissions): CXC has varying spreads and commission structures depending on the account type. For instance, the micro account has spreads starting from 1.3 pips with no commission, while the zero account offers spreads from 0 pips but incurs an $8 commission per trade.
Leverage: CXC provides high leverage, up to 1:1000, which can amplify trading potential but also increases risk significantly.
Allowed Trading Platforms: Traders can use the MT4 platform or the web trader platform, both of which offer essential trading tools and functionalities. However, there is limited information on additional features or innovative tools available on these platforms.
Restricted Regions: CXC does not specify any particular regions where trading is restricted, but the lack of regulation could deter traders from certain jurisdictions.
Available Customer Service Languages: Customer support is available in multiple languages, including Japanese, English, French, Chinese, and Korean. However, the absence of a telephone support option may be a drawback for some users.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 5 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 3 |
| User Experience | 4 |
| Overall | 4.6 |
Account Conditions: CXC offers a minimum deposit of $100, making it accessible for new traders. However, the account types available (micro, zero, and standard) have different features and costs associated with them, which may require careful consideration.
Tools and Resources: While the platform provides access to MT4, there is limited information on additional tools or educational resources, which could benefit less experienced traders.
Customer Service and Support: User reviews indicate dissatisfaction with customer support, particularly regarding response times and the lack of telephone support. This aspect significantly impacts the overall user experience.
Trading Setup (Experience): The trading experience on CXC is mixed, with some users reporting server issues and challenges with withdrawals. These concerns highlight potential reliability issues that traders should consider.
Trustworthiness: The lack of regulation and mixed user reviews contribute to a low trustworthiness score. Potential traders should exercise caution and conduct thorough research before engaging with CXC.
User Experience: Users have reported both positive and negative experiences, with some appreciating the trading conditions while others faced issues with server reliability and withdrawals.
In conclusion, CXC Markets presents a mixed bag of opportunities and risks for traders. While it offers a variety of trading instruments and high leverage, the lack of regulation raises serious concerns about the safety and reliability of the platform. Traders should carefully weigh the pros and cons and consider other options before making a commitment.
