Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
FXCL Pros & Cons
- 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.
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.
TU Expert Verdict
FXCL is rated as very high risk. Testing and client reviews highlight serious concerns regarding service quality, stability, and overall reliability. I recommend approaching this broker with extreme caution, as it may not be suitable for most traders.
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FXCL User Reviews
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5-star
0%
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4-star
0%
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3-star
33%
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2-star
33%
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1-star
33%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria8 /10The trading and non-trading commissions of FXCL have been analyzed and rated as having Low fees, with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, 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 OANDA FOREX.com EUR/USD min, pips 1.0 0.1 0.7 EUR/USD max, pips 1.6 0.5 1.2 GPB/USD min, pips 2.0 0.1 0.9 GPB/USD max, pips 3.0 0.5 1.4 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 OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 1.5 3.5 5 EUR/USD avg spread 0.1 0.15 0.2 GBP/USD avg spread 0.4 0.2 0.4 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 OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 25 0 15 -
Is FXCL Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria1.5 /10FXCL 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
FXCL Security Factors Foundation date - Negative balance protection YesVerification (KYC) YesFXCL is Not a Regulated Broker
Attention! It's your choice to work with regulated or unregulated brokers, but please consider the risks carefully. Unregulated brokers might offer lower fees and flexible trading options, but they lack investor protection, have a higher fraud risk, and no guarantee of withdrawals. Thoroughly research before deciding.
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Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.6 /10FXCL offers the following account options: Standard, ECN/Raw spread, Cent.
FXCL covers the core account types, making it convenient for traders with different preferences and strategies.
- Cent account for beginners
- Tight spread ECN account
- Standard account with balanced trading conditions
- No VIP account option
- Micro lots are not available
FXCL account types vs top competitors FXCL Plus500 Trading.com Standard YesYesYesECN/Raw spread YesNoNoDemo NoYesYesCent YesNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged NoNoNoFXCL accounts trading conditions
Each FXCL account type is designed for trading specific classes of assets. Clients can maintain multiple account types simultaneously.
Account types:
Account Type Description Standard Account Fixed spreads start at 2 pips. The minimum deposit is $1, making it suitable for beginner traders. Cent Account Spreads start from 1.1 pips, with a minimum deposit of $1. Ideal for traders with smaller capital. ECN Pro Account Ultra-low spreads starting from 0.1 pips, with a commission of $3 per lot. The minimum deposit is $1. Interbank Cent Account Spreads from 2.1 pips, with a minimum deposit of $1. Interbank Standard Account Spreads from 1.1 pips, with a minimum deposit of $1. -
Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology6.4 /10FXCL 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.
- No deposit fee
- Minimum deposit below industry average
- Bank card deposits and withdrawals
- Bank wire transfers available
- PayPal not supported
- BTC not available as a base account currency
- Wise not supported
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 Trading.com Bank Wire YesYesYesBank card YesYesYesPayPal NoYesNoWise NoNoNoBTC YesNoNoWhat are FXCL base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. FXCL supports the following base account currencies: USD, EUR, JPY, NGN, ZAR.
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.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria3.8 /10FXCL offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 50 Forex pairs.
- Copy trading platform
- Indices trading
- 50 supported currency pairs
- Bonds not available
- Futures not available
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 Trading.com Currency pairs 50 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 2800 69 Stocks NoYesNoCommodity futures NoYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesNoStock indices YesYesNoOptions NoYesNoInvestment 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 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at FXCL by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with FXCL in 8 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at FXCL is $1. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Low minimum deposit requirement
- Fully online account opening process
- Fast registration time (up to 15 minutes)
- Account setup process may feel less convenient for beginners
FXCL account opening FXCL Plus500 Trading.com Online Registration YesYesYesMinimum deposit $1 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 8 20 KYC time (days) 1 3 2 Is FXCL available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
Accessing the FXCL website requires a username and password, which necessitates an active user account. Creating an account is a straightforward process:
- Select the account type that best aligns with your investment goals and strategies and click the button to open it.
- 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.
- The final step is uploading documents to verify your identity and address of residence (required by FXCL Markets Ltd).
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Customer Support
Score:We evaluated Customer Support at FXCL by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria6.2 /10Customer support at FXCL is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. FXCL provides basic support functionality but does not stand out in overall service performance.
InformationFXCL assists its clients and answers their inquiries 24/5. Support is unavailable on national holidays that fall on business days.
- Support is available in several languages, including English, Spanish, and French
- The company provides a call center
- 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:
- Hotline
- Feedback form
- 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 support@fxclearing.com +44 203 150 1111
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FAQs
How do reviews describe FXCL’s regulation status and overall safety level?
FXCL has a safety score of 1.5/10, which corresponds to a low security level in this review. The broker is described as not regulated, with verification (KYC) and negative balance protection in place, but without Tier-1 regulation or participation in investor compensation schemes, which the review notes may increase risks for clients.
What do reviews say about FXCL trading commissions, spreads, and other fees?
According to the review, FXCL’s overall fees are rated as low, with a commissions and fees score of 8/10. Standard account EUR/USD spreads typically range from 1.0 to 1.6 pips, ECN accounts show an average EUR/USD spread of 0.1 pips with a $1.5 commission per lot, and there are no deposit or withdrawal fees, although a $25 monthly inactivity fee applies.
What account types are available at FXCL and how do reviews characterize their conditions?
The review states that FXCL offers Standard, ECN/Raw spread, and Cent accounts, with no demo, micro, swap-free, VIP, or managed accounts. All listed accounts have a minimum deposit of $1, with spreads and commissions varying by account type, such as fixed spreads from 2 pips on the Standard Account and ultra-low spreads from 0.1 pips plus a $3 commission per lot on the ECN Pro Account.
What do reviews say about FXCL deposit and withdrawal methods and limits?
The review notes that FXCL provides a basic range of funding methods, including bank cards, bank wire, BTC, USDT, and Ethereum, and supports base currencies such as USD, EUR, JPY, NGN, and ZAR. The minimum deposit and withdrawal are both $1, and while the overall process is rated as medium in efficiency, it is also described as having limited flexibility that may lead to higher costs.
How is FXCL customer support described in reviews and feedback?
The review describes FXCL customer support as available 24/5 with moderate response times that can vary depending on the complexity of the request. Support is offered via hotline, email, feedback form, and office visits in several languages including English, Spanish, and French, but online support is noted as limited and office visits are by appointment only.
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