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
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- MetaTrader4
Our Evaluation of FXCL
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
FXCL is a moderate-risk broker with the TU Overall Score of 5.53 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FXCL clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
FXCL Markets Ltd offers a choice of trading conditions and instruments suitable for both beginner and experienced traders. While its regulation is limited, the broker provides competitive spreads and high leverage, which can be attractive to active traders.
Brief Look at FXCL
FXCL Markets Ltd, founded in 2006, is a Botswana-registered company (UIN BW00005716042). The broker offers a wide range of services for individual and institutional clients, including trading in the Forex market, metals, commodities, and other financial instruments. The primary trading platform is MetaTrader 4, accessible on both PC and mobile devices.
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- FXCL Markets Ltd is registered in Botswana.
- Offers a wide range of assets, including Forex, metals, indices, and cryptocurrencies.
- Leverage is up to 1:2000, and spreads start from 0 pips.
- Support is available 24/5.
- Offers an economic calendar, trading calculator, and various learning materials.
- Lack of regulation in major financial centers.
- Does not accept clients from Indonesia, Japan, the U.S., and Canada.
TU Expert Advice
Financial expert and analyst at Traders Union
FXCL Markets Ltd offers a diverse range of trading instruments, including currency pairs, metals, indices, and cryptocurrencies. Traders can access the markets through MetaTrader 4 (MT4), available on desktop, web, and mobile platforms, providing a degree of flexibility for traders.
The broker offers competitive trading conditions. Spreads start at 0 pips on ECN accounts, which can be particularly appealing to scalpers and active traders. Maximum leverage reaches up to 1:2000, and a minimum deposit of just $1 is required to open an account.
FXCL Markets Ltd provides several account types, including Standard, Cent, ECN, and more. For example, the Standard account features fixed spreads, while the ECN account offers floating spreads starting from 0.1 pips.
Multiple deposit and withdrawal methods are supported, including bank transfers, credit/debit cards, and e-wallets like PerfectMoney and FasaPay. Deposits are processed instantly, allowing traders to start trading immediately. Withdrawals are also processed quickly, typically within one business day.
Established in 2006, FXCL Markets Ltd has built a reputation as a reliable and client-focused broker. Registered in Botswana under number UIN BW00005716042, FXCL provides a degree of security for clients. However, traders should be aware that FXCL lacks regulation in major financial centers. Also, the broker does not accept clients from Indonesia, Japan, the U.S., or Canada.
Client support is available 24/5, providing timely assistance. This is particularly beneficial for new traders who can rely on the broker's guidance.
FXCL Markets Ltd offers attractive conditions for traders of all levels. Competitive spreads, high leverage, and a variety of instruments make it a solid choice for both beginners and experienced traders.
FXCL Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 4 (MT4) |
|---|---|
| 📊 Accounts: | Standard, Cent, ECN and others |
| 💰 Account currency: | USD, EUR, MYR, THB and others |
| 💵 Deposit / Withdrawal: | Bank transfers, credit/debit cards, PerfectMoney, FasaPay, cryptocurrencies |
| 🚀 Minimum deposit: | $1 for all account types |
| ⚖️ Leverage: | Up to 1:2000 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 lots |
| 💱 EUR/USD spread: | 0,1 pips |
| 🔧 Instruments: | Forex, metals, indices, cryptocurrencies |
| 💹 Margin Call / Stop Out: | Margin call by 70%, stop out by 50% |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes, via MT4 mobile app |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market execution |
| ⭐ Trading features: | Competitive spreads, high leverage, multiple account types, extensive educational resources |
| 🎁 Contests and bonuses: | Periodic promotions and bonuses |
FXCL offers a reliable trading environment with various instruments and competitive trading conditions. The broker supports MT4, available for desktop PCs, web, and mobile devices, offering flexibility for traders everywhere.
FXCL Key Parameters Evaluation
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Trading Account Opening
Accessing the FXCL website requires a username and password, which necessitates an active user account. Creating an account is a straightforward process:
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Select the account type that best aligns with your investment goals and strategies and click the button to open it.
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Fill out your personal information in the account opening form. Also, set a password for your first login. Passwords must be changed every three months.
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The final step is uploading documents to verify your identity and address of residence (required by FXCL Markets Ltd).
Regulation and safety
FXCL has a safety score of 1.5/10, 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
- Not tier-1 regulated
- Not regulated
- Track record of less than 8 years
FXCL Security Factors
| Foundation date | - |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
FXCL is Not a Regulated Broker
Commissions and fees
The trading and non-trading commissions of broker FXCL 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 deposit fee
- No withdrawal fee
- Inactivity fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of FXCL 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, FXCL’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.
FXCL Standard spreads
| FXCL | Pepperstone | OANDA | |
| EUR/USD min, pips | 1,0 | 0,5 | 0,1 |
| EUR/USD max, pips | 1,6 | 1,5 | 0,5 |
| GPB/USD min, pips | 2,0 | 0,4 | 0,1 |
| GPB/USD max, pips | 3,0 | 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.
FXCL RAW/ECN spreads
| FXCL | Pepperstone | OANDA | |
| Commission ($ per lot) | 1,5 | 3 | 3,5 |
| EUR/USD avg spread | 0,1 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,4 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with FXCL. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
FXCL Non-Trading Fees
| FXCL | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 25 | 0 | 0 |
Account types
Each FXCL account type is designed for trading specific classes of assets. Clients can maintain multiple account types simultaneously.
Account types:
Deposit and withdrawal
FXCL received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
FXCL provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Supports 5+ base account currencies
- Low minimum withdrawal requirement
- Bank card deposits and withdrawals
- Bitcoin (BTC) accepted
- PayPal not supported
- Wise not supported
- Limited deposit and withdrawal flexibility, leading to higher costs
What are FXCL deposit and withdrawal options?
FXCL 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, BTC, USDT, Ethereum.
FXCL Deposit and Withdrawal Methods vs Competitors
| FXCL | 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 FXCL base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. FXCL supports the following base account currencies:
What are FXCL's minimum deposit and withdrawal amounts?
The minimum deposit on FXCL is $1, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact FXCL’s support team.
Markets and tradable assets
FXCL offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 50 Forex pairs.
- Indices trading
- 50 supported currency pairs
- Copy trading platform
- Limited asset selection
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by FXCL with its competitors, making it easier for you to find the perfect fit.
| FXCL | Plus500 | Pepperstone | |
| Currency pairs | 50 | 60 | 90 |
| Total tradable assets | 2800 | 1200 | |
| Stocks | No | Yes | Yes |
| Commodity futures | No | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products FXCL offers for beginner traders and investors who prefer not to engage in active trading.
| FXCL | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Customer support
FXCL assists its clients and answers their inquiries 24/5. Support is unavailable on national holidays that fall on business days.
Advantages
- Support is available in several languages, including English, Spanish, and French
- The company provides a call center
Disadvantages
- Online support is available on a limited basis
- Company office can be visited by appointment only
Clients can contact FXCL managers for assistance through the following channels:
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Hotline
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Email
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Feedback form
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Office visits
FXCL provides support not only to its clients but also to potential investors..
Contacts
| Registration address | Plot 54368 Western Commercial Road, The Hub, Itowers, CBD, Gaborone, Botswana |
|---|---|
| Official site | fxclearing.com |
| Contacts |
+44 203 150 1111
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Education
Clients can access information about trading conditions, explore various trading concepts, and stay updated on market trends and the latest topics.
Comparison of FXCL with other Brokers
| FXCL | Eightcap | XM Group | RoboForex | Exness | Bybit | |
| Trading platform |
MetaTrader4 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MetaTrader5 |
| Min deposit | $1 | $100 | $5 | $10 | $10 | No |
| Leverage |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | 10.00% | No | No |
| Spread | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0 points |
| Level of margin call / stop out |
70% / 50% | 80% / 50% | 100% / 50% | 60% / 40% | 60% / No | No / 50% |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | Yes | No |
Detailed Review of FXCL
FXCL offers its clients a wide range of tools and resources for market analysis, investment decision-making, and portfolio monitoring. The MetaTrader 4 platform, coupled with analytical reports, news feeds, and various analysis tools, empowers investors to select optimal strategies aligned with their financial goals, risk tolerance, and trading preferences. FXCL provides access to over 100 financial instruments, including currency pairs, indices, stocks, and commodities. Registered in Botswana, the company ensures high-quality client service with 24/5 support.
FXCL’s trading platforms
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MetaTrader 4 (MT4). A widely used online trading platform suitable for both beginner and professional traders.
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FXCL Mobile App. Allows clients to manage accounts on the go, providing flexibility and convenience.
FXCL by the numbers
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Over 100 financial instruments, including Forex, metals, indices, and cryptocurrencies.
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Over 15 years of experience in the financial brokerage industry.
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Multilingual client support available 24/5.
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Three account types to meet the diverse needs of traders: Standard, Cent, ECN Pro.
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Minimum deposit starting at $1 for all account types.
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Spreads starting from 0.1 pips for ECN accounts.
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Leverage up to 1:2,000.
Analytical services of FXCL
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Forex trading. FXCL offers over 50 currency pairs with competitive spreads and high leverage.
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Spot metals, stocks, indices, and cryptocurrencies. Clients can diversify their portfolios by trading across various asset classes.
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MetaTrader 4 platform. Available on desktop, web, and mobile devices for seamless and flexible trading.
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Educational resources. FXCL provides webinars, video tutorials, and trading guides to help traders enhance their skills and knowledge.
Competitions and bonuses
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Up to $5,000 under the IB Reward Program.
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Deposit bonuses of up to $5,000.
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Loss bonuses up to $4,000.
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Share your profits and losses with us (terms and conditions apply).
Account types
Standard Account
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Floating spreads from 2 pips.
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No commission.
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Trading from 0.01 lots.
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Bonuses are available.
Cent Account
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Floating spreads from 1.1 pips.
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No commission.
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Trading from 0.01 lots.
ECN Pro Account
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Floating spreads from 0.1 pips.
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Commission is $3 per lot.
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Trading from 0.01 lots.
Advantages:
Passive income via affiliate programs. FXCL offers generous rewards for partners bringing in new clients.
Trading platforms for PC and mobile (Android and iOS). Traders can manage their accounts and trade anytime, anywhere.
Extensive market analysis and reports. FXCL regularly publishes securities market reviews, morning market briefs, and expert recommendations.
Free withdrawals. Clients can withdraw funds without fees using the automatic transfer system.
Latest FXCL News
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