FIC Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Having been trading with FIC for almost five years and I have not encountered any problems. FIC is a legit broker, and it never has any withdrawal problems. so I would definitely recommend this broker to your guys.
FIC, or Fidus Investments Cyprus Ltd, has garnered mixed reviews in the forex trading community. While it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers a range of trading instruments, users have noted a complex fee structure and limited educational resources as significant drawbacks. Overall, the consensus leans towards a cautious approach for potential traders considering this broker.
Note: Its important to recognize that different entities operate under the FIC name in various regions, which may affect the regulatory oversight and user experience. This review aims to provide a fair and accurate assessment based on the available data.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 5 |
| Customer Service and Support | 6 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 7 |
| User Experience | 6 |
How We Rate Brokers: Our ratings are based on user reviews, expert analysis, and factual data from multiple sources.
Founded in 2016, FIC is a forex brokerage based in Cyprus, specifically regulated by CySEC under license number 326/17. The platform offers trading through the well-known MT4 and a multi-product platform, catering to a variety of trading preferences. Traders can access a diverse array of assets, including forex, CFDs, ETFs, stocks, bonds, and derivatives.
Regulated Geographic Regions:
FIC is primarily regulated in Cyprus, a jurisdiction that has become increasingly popular for forex brokers due to its robust regulatory framework. The CySEC mandates that firms maintain a minimum capital of €730,000 and segregate client funds from operational capital.
Deposit/Withdrawal Currencies:
FIC supports multiple currencies for deposits and withdrawals, including EUR and USD. However, it only accepts bank transfers, which may limit convenience for some users.
Minimum Deposit:
The minimum deposit requirement is reported to be around €30, primarily for transactions involving incorrect IBAN information, which is a relatively low entry point for traders.
Bonuses/Promotions:
Currently, FIC does not offer any bonuses or promotional incentives, which may be a drawback for traders looking for additional value.
Tradable Asset Classes:
FIC provides access to a wide range of financial instruments, including forex, contracts for difference (CFDs), exchange-traded funds (ETFs), bonds, and derivatives. However, it does not support cryptocurrency trading, which may deter some potential clients.
Costs (Spreads, Fees, Commissions):
The fee structure at FIC can be complex. For forex trading, the fees are flat at USD 35, EUR 35, GBP 35, CHF 35, or JPY 3,500 per 100,000 units. Futures trading incurs a standardized fee of USD 35 or its equivalent in other currencies per contract. This tiered structure may be challenging for inexperienced traders to navigate.
Leverage:
FIC offers leverage, but specific ratios were not detailed in the sources reviewed. Traders should verify leverage options directly with the broker, as this can significantly impact trading strategies.
Allowed Trading Platforms:
FIC supports the MT4 platform, which is popular among forex traders for its advanced charting tools and user-friendly interface. Additionally, a multi-product platform is available for those who wish to trade a variety of instruments beyond forex.
Restricted Regions:
FIC does not accept clients from several countries, including the USA, Canada, and North Korea. This may limit its global reach and accessibility.
Available Customer Service Languages:
Customer support is accessible in English, with contact options including phone and email. However, some user reviews suggest that response times can vary, indicating that improvements in customer service may be necessary.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6 |
| Tools and Resources | 5 |
| Customer Service and Support | 6 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 7 |
| User Experience | 6 |
Account Conditions (6/10):
FIC has a low minimum deposit requirement, making it accessible to new traders. However, the lack of demo accounts and complex fee structures may deter beginners.
Tools and Resources (5/10):
While the MT4 platform is robust, the overall lack of educational resources and tools for traders is a significant downside, particularly for those looking to improve their trading skills.
Customer Service and Support (6/10):
Customer support is available through multiple channels, but user experiences indicate that response times can be inconsistent, highlighting a need for improvement.
Trading Setup (5/10):
The trading experience is generally straightforward, but the complexity of the fee structure can create confusion for less experienced traders.
Trustworthiness (7/10):
FIC is regulated by CySEC, which instills a level of trust. However, the mixed reviews regarding user experiences suggest that potential traders should proceed with caution.
User Experience (6/10):
Overall, users have reported satisfactory experiences, but the complexity of the platform and fee structure can detract from the overall user experience.
In conclusion, while FIC offers a regulated environment and a variety of trading instruments, potential traders should weigh the complexities of its fee structure and the limitations in educational resources before committing. The FIC review suggests a cautious approach, particularly for novice traders.
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