According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 2017
Our Evaluation of FxCitizen
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
FxCitizen is a broker with higher-than-average risk and the TU Overall Score of 4.86 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FxCitizen clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Brief Look at FxCitizen
UC Financial Group (FxCitizen) is a brokerage company established in 2010 and registered in Vanuatu under the name Universe Citizen Limited. It offers a wide range of trading instruments, including currency pairs, indices, stocks, and commodities, as well as the popular MetaTrader 4 (MT4) platform for trade execution.
The main issue with UC Financial Group is its lack of proper regulation, making it susceptible to manipulation and fraud. The broker promises clients safety and protection, while in reality, it operates without the necessary financial license. In 2024, the Italian Securities and Exchange Commission (CONSOB) issued a warning against UC Financial Group (FxCitizen) for operating without proper authorization.
Clients of the company frequently encountered problems withdrawing funds and experienced manipulation of their trading accounts. Many reported that their profits were canceled without explanation, and their accounts were frozen. UC Financial Group (FxCitizen) also offered bonuses that served as a mechanism to retain client funds, as complex conditions were attached to their withdrawal.
Against the backdrop of numerous complaints and regulatory issues, UC Financial Group (FxCitizen) has gained a reputation as an unscrupulous broker, and its activities raise serious concerns among traders. Clients who have suffered losses due to UC Financial Group actions often have no recourse to recover their funds due to the lack of regulation and transparency in the company’s operations.
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FxCitizen Trading Conditions
| 💻 Trading platform: | Metatrader 5, MetaTrader 4, Mobile Apps |
|---|---|
| 📊 Accounts: | Cent Micro, Standard Mini, Premium Zero, Premium ECN. |
| 💰 Account currency: | USD |
| 💵 Deposit / Withdrawal: | Bank Transfer, Credit/Debit Cards (Visa/MasterCard), Perfect Money. |
| 🚀 Minimum deposit: | 10 USD |
| ⚖️ Leverage: | 1:1000 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 lot |
| 💱 EUR/USD spread: | 0,1 pips |
| 🔧 Instruments: | Forex, CFDs, Commodities |
| 💹 Margin Call / Stop Out: | 100%/30%, Premium ECN - 100%/40% |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Mobile Platforms |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Instant Execution |
| ⭐ Trading features: | No |
| 🎁 Contests and bonuses: | Deposit Bonus Up To 35% |
FxCitizen Key Parameters Evaluation
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Regulation and safety
FxCitizen has a safety score of 2/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Track record over 8 years
- Not tier-1 regulated
- Not regulated
FxCitizen Security Factors
| Foundation date | 2017 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
FxCitizen is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker FxCitizen have been analyzed and rated as Low with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of FxCitizen with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, FxCitizen’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
FxCitizen Standard spreads
| FxCitizen | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,1 | 0,5 | 0,1 |
| EUR/USD max, pips | 0,3 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,2 | 0,4 | 0,1 |
| GPB/USD max, pips | 0,3 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
FxCitizen RAW/ECN spreads
| FxCitizen | Pepperstone | OANDA | |
| Commission ($ per lot) | 3 | 3 | 3,5 |
| EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,12 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with FxCitizen. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
FxCitizen Non-Trading Fees
| FxCitizen | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Deposit and withdrawal
FxCitizen received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
FxCitizen provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Minimum deposit below industry average
- Bank card deposits and withdrawals
- No deposit fee
- USDT (Tether) supported
- PayPal not supported
- Limited deposit and withdrawal flexibility, leading to higher costs
- Only major base currencies available
What are FxCitizen deposit and withdrawal options?
FxCitizen provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
FxCitizen Deposit and Withdrawal Methods vs Competitors
| FxCitizen | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | Yes | No | No |
What are FxCitizen base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. FxCitizen supports the following base account currencies:
What are FxCitizen's minimum deposit and withdrawal amounts?
The minimum deposit on FxCitizen is $10, while the minimum withdrawal amount is $50. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact FxCitizen’s support team.
Markets and tradable assets
FxCitizen offers a limited selection of trading assets compared to the market average. The platform supports 70 assets in total, including 40 Forex pairs.
- 40 supported currency pairs
- Multiple markets
- Copy trading not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by FxCitizen with its competitors, making it easier for you to find the perfect fit.
| FxCitizen | Plus500 | Pepperstone | |
| Currency pairs | 40 | 60 | 90 |
| Total tradable assets | 70 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | No | Yes | Yes |
| Stock indices | No | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products FxCitizen offers for beginner traders and investors who prefer not to engage in active trading.
| FxCitizen | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | No | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Contacts
| Foundation date | 2017 |
|---|---|
| Registration address | 29 Luk Hop Street San Po Kong, Kowloon, Hong Kong |
| Official site | https://fxcitizen.com/ |
| Contacts |
Comparison of FxCitizen with other Brokers
| FxCitizen | Bybit | Eightcap | XM Group | Exness | 4XC | |
| Trading platform |
MobileTrading, MT5 | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT5, MT4, WebTrader |
| Min deposit | $10 | No | $100 | $5 | $10 | $50 |
| Leverage |
From 1:1 to 1:1000 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | Yes |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0 points |
| Level of margin call / stop out |
100% / 30% | No / 50% | 80% / 50% | 100% / 50% | 60% / No | 100% / 50% |
| Order Execution | Instant Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | $50 |
| Cent accounts | No | No | No | No | Yes | No |
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