Fxcess Review 24
The best thing, I liked about fxcess that they provide both variable and zero spread accounts. Some traders, like me, prefer trading non-typical and high volatile pairs, for example, some exotic forex pairs, that`s why the wide spreads are not for us. For just several bucks commission, I can trade these assets, on which my trading strategy is developed for, so I don`t need to worry about wide spreads.
This is the red flags to watch out for in brokers. And guess what, it's easy to notice that Fxcess has none of them, I think we can all agree. Sure maybe it's not a perfect broker and I wish they got more tools, but the MT + clear payouts to banks, and no red flags - enough for me to be comfortable. I think a fair rating here should be around 7-8, so to bump it up to that, I'm giving this a higher score for now. One of the better trading XPs for me.
The MT5 trader just looks better in the web... I mean, look at this, its not impressive-looking. But the conditions, on the other hand... Just watch, for my regular acc, spreads are pretty sublime. For eurusd they are not even shown, less than 0.1 pips, for most other majors its 0.1-0.3 pips. nzdusd 0.3 pips. I can deal with older platform as long as its oldie but goldie.
I am pretty much satisfied with the trading terms here. Account types choice isn't big, but I would say... exhaustive. Classic account is something that I opted for because I am used to paying spreads and I don't know how to calculate commissions properly. It's cool they give traders such a choice, sometimes we are missing such accounts which will be universal. All in all I am happy.
Presented as a reliable broker, it turned out to be the worst scam of my life. I started with them in April 2024 with an investment of 2k and then relied on an automatic bot by investing 5k (they made me lose everything in 6 days, claiming it was a coincidence). In July 2024, I returned and invested 27k, earning 42K in two months (all provable from my account). In August 2024, when I started requesting the first withdrawals, I began to notice a long wait, so much so that I had to urge the account manager to unlock the operation (on that occasion, I was already warned that the broker could reserve the right to block my account for excessive profits, something I never knew). Just a few days, specifically on September 13th, I found dozens of signals with very high leverage and on currencies that I have never traded, causing me a loss of 42k. NON-EXISTENT SUPPORT AND RESPONSIBILITY PLACED ON THE CLIENT. DISGUSTING.
I gotta say that blog needs more regular update, as the articles are limited. However, from what they have already, there are some good readings like how to set a tp or sl properly. I like the advice with levels of support or resistance, the problem is for me now I cant really find the proper levels...
Who knew trading could be this cheap?! I mean, you’d think Fxcess would charge a fortune, but nope! The pricing is pretty reasonable. Sure, they’ve got their fees here and there, but nothing that’ll make you cry... unless you’re trading on a Monday after a bad weekend😂😂😂. But yeah, I think the broker is pretty great.
There are two distinct account types - the Classic for a broad type of trading styles and ECN for daytrades or scalpers. The initial depo requirement is the same, but they differ in the leverage. 1000x for the classic acc, while “only” 500x for the ECN acc.
