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FP Markets , FXCL Broker Comparison

Do you want to know which is the better broker between FP Markets and FXCL ?

In the table below, you can compare the features of FP Markets , FXCL side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
FP Markets
8.87
Regulated
Under guarantee
--
--
15-20 years
ASIC,CYSEC
VISA, Mastercard,International bank wire,NETELLER,Skrill,Neteller
AA
AAA
325.2
140
156
140
1975
1258
1975
C

EURUSD: 1.2

XAUUSD: 0.6

11
-1
11
AAA
7.02 USD/Lot
13.38 USD/Lot
A

Long: -5.89

Short: 2.55

Long: -33.61

Short: 20.44

AA
0.2
18.7
Raw,Standard
70+ FX pairs, metals, indices, commodities
$100 AUD or equivalent
1:500
From 0.0
0.00
--
0.01
--
FXCL
2.23
No Regulation
Under guarantee
--
5-10 years
VFSC
BTC,Online bank (Paytrust),PerfectMoney,Local Deposit,Dragonpay,FasaPay
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
ECN Pro account,Volume Cash account,Live Contest account,Interbank Cent account,Interbank Standard account,Start account,Standard account,Cent account
--
--
Forex, metals: up to 1:300 Indices: up to 1:100 Crypto: up to 1:10
from 0.1
80.00
Floating
0.01
--

FP Markets 、 FXCL BrokersRelevant information

FXCL BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of fp-markets, fxcl lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

fp-markets
FP Markets Basic Information
Registered Country/Area Sydney, Australia
Founded in 2005
Regulation ASIC, CySEC
Minimum Deposit $100
Trading Instruments Forex, Indices, Commodities, Shares, Cryptocurrencies
Trading Platforms MetaTrader 4, MetaTrader 5, Iress
Account Types Standard, Raw, Islamic, Demo
Leverage Up to 1:500
Spreads From 0.0 pips
Commission $3.00 per side per 100k traded (Raw Account only)
Deposit and Withdrawal Methods Bank Wire Transfer, Credit/Debit Card, Skrill, Neteller, POLi, FasaPay, China Union Pay, BPay, PayPal
Customer Support 24/7 Live Chat, Email, Phone Support, Knowledge Base, Video Tutorials
Educational Resources Webinars, eBooks, Trading Videos, Trading Tools, Market Analysis, Economic Calendar

Overview of FP Markets

FP Markets is an Australian-based online brokerage firm that offers various trading instruments including forex, shares, indices, metals, and cryptocurrencies. The company was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). FP Markets provides clients with access to multiple trading platforms including MetaTrader 4, MetaTrader 5, and IRESS. The broker also offers several account types to cater to the needs of different traders, including Standard andRaw, with the minimum deposit to open a standard account starting from $100 AUD or equivalent amount. The standard account is designed for novice traders, while the Raw account is intended for more experienced traders who require tighter spreads and faster execution speeds. In addition, the company offers Islamic accounts, as well as a free demo account for traders to test their strategies in a risk-free environment.

When it comes to trading conditions, FP Markets is known for its competitive spreads and low commissions. The broker also offers high leverage options of up to 500:1 for forex trading. Additionally, the broker offers various 24/7 customer support and rich educational resources such as webinars, trading guides, and video tutorials, which can help both novice and experienced traders to improve their trading skills.

basic-info

Is FP Market Legit or a Scam?

Yes, FP Markets is a regulated broker. They are regulated by two reputable regulatory bodies: the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). ASIC is known for its strict regulations and is considered to be one of the most trusted regulators in the world. CySEC is also a reputable regulator and is responsible for regulating the financial markets in Cyprus, which is an important hub for forex and CFD trading. FP Markets' adherence to these regulatory bodies' rules and regulations ensures its transparency, and fairness in its operations.

regulation
regulation

Pros and Cons of FP Markets

FP Markets has several pros, including its strong regulatory framework, low trading fees, diverse range of financial instruments, and robust trading platforms. The broker also offers various account types to suit the needs of different traders and provides excellent customer support. However, some potential cons of FP Markets include limited live trading account types, high inactivity fees, and the fact that the broker is not available to clients from certain countries.

Pros Cons
Regulated by reputable authorities (ASIC, CySEC) No support for U.S. clients
Wide range of trading instruments Limited live account types
Website easy to navigate Inactivity fee charged on dormant accounts
Low spreads and competitive pricing No social trading platform offered
Generous leverage up to 1:500 Minimum deposit not the friendiest compared to other brokers
Rich educational resources available
Negative balance protection
Multiple trading platforms, MT4, MT5 and Iress
High-quality customer service and support

Market Intruments

FP Markets offers a range of market instruments for traders to choose from, including Forex, indices, commodities, cryptocurrencies, and shares. With Forex, traders can access major currency pairs, as well as minor and exotic currency pairs. For indices, FP Markets offers a selection of popular indices from around the world, including the S&P 500, NASDAQ, FTSE 100, DAX 30, and more. In the commodities market, traders can trade precious metals like gold and silver, as well as oil, natural gas, and other commodities. FP Markets also offers trading in cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, as well as shares from various exchanges, including the NYSE and NASDAQ. Overall, FP Markets provides a diverse range of market instruments for traders to choose from.

market-instruments

Behold, a comparison table of the vast array of market instruments offered by reputable brokers FP Markets, IC Markets, FXTM, and Exness:

Market Instruments FP Markets IC Markets FXTM Exness
Forex 60+ 65+ 60+ 120+
Commodities 15+ 19+ 3+ 10+
Indices 20+ 18+ 11+ 10+
Stocks 10,000+ 120+ 180+ 0
Cryptocurrencies 5+ 10+ 5+ 5+

Account Types

When it comes to FP Markets' account types, there are a few important things to consider. Firstly, it is worth noting that the available account types depend on which trading platform you choose to use. The MT4 and MT5 platforms offer Standard and Raw account types, while the iRESS trading platform offers both Retail and Wholesale/Professional account types.

Let's take a closer look at each account type. The Standard account offers commission-free trading with spreads starting from 1.0 pip, while the Raw account offers commission-based trading with spreads starting from 0.0 pips. The Raw account is designed for traders who require lower spreads and are willing to pay a commission for the privilege.

On the other hand, the iRESS trading platform offers both Retail and Wholesale/Professional account types. The Retail account offers commission-free trading with spreads starting from 0.0 pips, while the Wholesale/Professional account offers commission-based trading with spreads starting from 0.0 pips. The Wholesale/Professional account is designed for traders who require lower spreads and have higher trading volumes, and are therefore able to access deeper liquidity pools.

Each account type has its own minimum deposit requirement, which varies depending on the platform and account type you choose, with Standard and Raw (MT4 & MT5)starting from $100 AUD or equivalent, retail and wholesale account from $1,000. In addition, each account type offers different leverage options, depending on the financial instrument being traded.

account-types
account-types
Pros Cons
Multiple account types to choose from Limited leverage options for certain account types
Low minimum depoist for Standard and Raw account Minimum deposit requirements can be high for some retail and professional account
Ability to trade multiple markets with IRESS platform Some account types may have higher commission fees
Access to multiple trading platforms Limited cryptocurrency trading options
Professional account options for experienced traders Demo accounts only available for a limited time period
High-speed order execution with ECN trading technology Swap-free account options may not be available for all account types

Demo Accounts

FP Markets offers free demo accounts for both the MT4 and MT5 platforms, allowing traders to practice their strategies and familiarize themselves with the platforms before opening a live trading account. The demo accounts provide access to real-time market data, competitive spreads, and a range of trading tools, making it an ideal option for traders of all levels to test their trading skills without risking their capital.

One of the key advantages of FP Markets' demo accounts is that they allow traders to experience the same trading conditions as their live accounts, giving them a realistic view of the market environment. In addition, the demo accounts are unlimited, meaning that traders can practice for as long as they want without any time restrictions.

FP Markets' demo accounts are valid for 30 days. However, if you require an extension, you can contact their customer support team to request it. They may extend the demo account for an additional 30 days.

demo-account
demo-account

Islamic Accounts

FP Markets offers Islamic or swap-free accounts to clients who follow the Muslim faith and cannot receive or pay interest due to religious reasons. These accounts comply with Sharia law and allow traders to hold positions overnight without incurring any rollover fees or interest charges.

FP Markets' Islamic accounts are available for all account types, including the Standard and Raw accounts for MT4 and MT5, as well as the iRESS Trading platform. Traders can open an Islamic account by submitting a request to the FP Markets support team, which will review and approve the application.

How to open an account?

Here is some more detailed information about how to open an account with FP Markets:

To begin the account opening process, prospective clients can go to the FP Markets website and click on the “Open Live” button. They will then be directed to a page where they can choose between opening a live or a demo account.

open-account

After selecting the account type, clients will need to fill out an application form that requires personal and financial information. This includes details such as their full name, email address, phone number, country of residence, and employment status.

open-account

Clients will also need to provide some identification documents, such as a passport or national ID card, as well as proof of address, which could be in the form of a utility bill or bank statement. FP Markets takes security seriously and has a strict verification process to ensure the safety of client funds and information.

Once the application has been submitted and the client's identity and address have been verified, they will receive an email with their login credentials and instructions on how to fund their account. FP Markets offers a variety of payment options, including credit/debit cards, bank transfers, and various e-wallets.

Leverage

The leverage offered by FP Markets for other instruments varies based on the type of instrument and the entity under which it operates. For example, the Australian entity of FP Markets offers a maximum trading leverage of up to 1:500 for forex trading, while the CySEC entity offers a maximum trading leverage of up to 1:30 for forex trading. Besides, for commodities and indices, the maximum leverage available is usually lower than for forex trading.

Please bear in mind that trading with leverage involves a higher degree of risk, and traders should use it wisely and with caution. It is always advisable to understand the risks involved and have a sound risk management plan in place before using leverage in trading.

Spreads & Commissions (Trading Fees)

FP Markets offers competitive spreads and commissions for its traders. The spreads for forex trading start from as low as 0.0 pips, depending on the type of account and trading platform. The Raw account, which is available on both the MT4 and MT5 trading platforms, charges a commission of $3 per side per lot traded, while the Standard account has no commission but slightly wider spreads.

For trading CFDs on indices, FP Markets charges a commission starting from $10 per lot, while the spreads start from 0.5 points. The commission and spreads for other instruments, such as commodities, shares, and cryptocurrencies, vary depending on the specific instrument and trading platform.

FP Markets offers an Active Traders program that provides discounted trading fees for high-volume traders. Traders who meet certain trading volume requirements can receive rebates on their commissions and reduced spreads.

spread-commission
spread-commission
spread-commission
spread-commission

We've gathered data on EUR/USD, XAU/USD, Brent Crude Oil, and Bitcoin (BTC/USD) from top-notch brokers, including FP Markets, IC Markets, FXTM, and Exness, so you can make an informed decision on where to place your trades.

Broker EUR/USD Spreads XAU/USD Spreads Brent Crude Oil Spreads Bitcoin Spreads
FP Markets 0 15 3 18.66
IC Markets 0 20 3 60
FXTM 1.3 20 3 130
Exness 0.9 17 2 80

Non-Trading Fees

In addition to trading fees, FP Markets also charges non-trading fees that traders should be aware of before opening an account. The broker charges an inactivity fee of AUD 10 per month on accounts that have been inactive for more than six consecutive months. FP Markets also charges a withdrawal fee of AUD 20 for withdrawals made via bank transfer, while withdrawals made via credit/debit card or e-wallets are free of charge.

Moreover, FP Markets offers a VPS service to its clients, allowing them to access their trading accounts from anywhere in the world. However, the VPS service is not free and is available at an additional cost of AUD 30 per month. The broker also offers a copy trading service called “MAM/PAMM,” which allows traders to copy the trades of professional traders. This service is also available at an additional cost of 10% performance fee.

Besides, FP Markets also charges swap interest for holding positions overnight. The swap rates can be either positive or negative depending on the currency pair and the direction of trade.

non-trading-fees
non-trading-fees
Pros Cons
No deposit or withdrawal fees for most methods. Inactivity fee charged after 6 months of inactivity.
No account administration fees. Some payment methods may incur fees charged by third-party providers.
No fees charged for Islamic accounts. Overnight financing fees (swaps) are charged on positions held overnight.
Low conversion fees for deposits and withdrawals in different currencies.

Trading Platform

FP Markets offers its clients a variety of trading platforms to choose from, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as the IRESS platform for advanced traders.

The MT4 platform is well-known for its user-friendly interface and extensive range of analytical tools, making it a popular choice among traders of all levels. The MT5 platform is an upgraded version of MT4, offering additional features such as more timeframes, additional order types, and advanced technical analysis tools.

The IRESS platform is designed for more advanced traders who require direct market access (DMA) and the ability to trade a variety of financial instruments, including stocks, futures, and options, as well as forex and CFDs.

trading-platform
trading-platform
trading-platform

Please note that FP Markets charges fees for using the MT4 and MT5 trading platforms. The fees depend on the account type and trading platform being used. For example, Standard account holders using the MT4 platform are charged zero commissions for various tarding assets, while Raw account holders are charged a commission of $3.5 AUD per lot for forex trades on the same platform. On the MT5 platform, both Standard and Raw account holders are charged a commission of $6 per lot for forex trades. It's important to note that these fees are subject to change and may vary depending on the instrument being traded.

trading-platform
trading-platform
trading-platform

Here is the comprehensive table comparing the top trading platforms offered by FP Markets and other reputable brokers such as IC Markets, Exness, and Avatrade:

Broker Trading Platform Desktop/Mobile/Web Number of Instruments Minimum Deposit
FP Markets MT4, MT5, IRESS Desktop, Mobile 10,000+ $100
IC Markets MT4, MT5, cTrader Desktop, Mobile, Web 300+ $200
Exness MT4, MT5 Desktop, Mobile, Web 150+ $1
Avatrade MT4, MT5, AvaOptions Desktop, Mobile, Web 1000+ $100

Deposit & Withdrawal

Minimum Deposit

FP Markets requires a minimum deposit of $100. This means that you can not open an account with FP Markets unless you deposit at least $100. However, it is important to note that some payment methods may require a higher minimum deposit. For example, if you are using a bank wire transfer, the minimum deposit may be higher than $100 due to processing fees.

The following is a table showing the comparison of the minimum deosit required by FP Markets and other brokers, avatrade, exness, and ic markets:

Broker Minimum Deposit
FP Markets $100
Avatrade $100
Exness $1
IC Markets $200

FP Markets offers a variety of convenient deposit and withdrawal methods to ensure that clients can easily fund and withdraw their accounts. Clients can deposit funds using credit/debit cards, bank wire transfers, electronic wallets such as Neteller, Skrill, POLi, and FasaPay. FP Markets does not charge any deposit fees, and the processing time for deposits is usually instant or up to 1 business day, depending on the deposit method.

payment-methods
payment-methods

Withdrawal

For withdrawals, clients can use the same methods they used for depositing, and FP Markets does not charge any fees for most withdrawal methods. Withdrawal processing times vary depending on the method used, with electronic wallets usually taking up to 24 hours, while bank transfers can take 3-5 business days. Clients are advised to verify their accounts before making a withdrawal to avoid any delays or complications in the withdrawal process. Additionally, FP Markets offers free internal transfers between accounts, making it easy for clients to manage their funds across multiple trading accounts.

payment-methods
Pros Cons
Fast processing times for deposits and withdrawals Limited payment options compared to other brokers
No fees for most deposit and withdrawal methods High withdrawal fees for bank transfers
Multiple currency options for account funding No support for some popular payment methods
Availability of convenient payment methods

Customer Support

FP Markets offers a range of customer support options to its clients, including email, phone, live chat, and an online contact form. The broker also provides access to a range of educational resources and tools, including a knowledge base, video tutorials, webinars, and trading guides. Additionally, FP Markets offers multilingual support in several languages, including English, Chinese, Spanish, and Portuguese.

In addition, FP Markets has an extensive FAQ section on their website that covers a wide range of topics and can help clients find answers to their questions quickly. 24/7 customer support is a significant advantage for clients who may need assistance outside of regular business hours.

customer-support
customer-support
Pros Cons
24/7 customer support availability Limited language support for customer service
Multiple customer support channels (phone, email, live chat) No dedicated account manager for clients
Fast response times to customer inquiries and requests No in-person support or local offices in some countries
Extensive knowledge base and educational resources Limited social media presence for customer support

Educational Resources

FP Markets offers a wide range of educational resources to help traders improve their knowledge and skills in trading. These resources include video tutorials, webinars, trading guides, and market analysis. The broker also provides a demo account for traders to practice their trading strategies without risking real money. Additionally, FP Markets has a blog section on its website, which covers various trading topics and market updates.

Overall, the educational resources provided by FP Markets are comprehensive and easily accessible to traders. The broker's commitment to educating its clients is commendable, and it shows that it values the success of its clients. However, some traders may find that resources are not sufficient for their needs, and may require more personalized educational support.

educational-resources
educational-resources
Pros Cons
Comprehensive educational resources Some traders may require more personalized support
Demo account available for practice
Regular webinars and market analysis
Blog section with trading insights

Conclusion

To sum up, FP Markets is a reputable and well-regulated broker that offers a wide range of instruments for traders to choose from, including forex, stocks, commodities, cryptocurrencies, and more. The broker offers multiple account types, including demo, Islamic, and standard accounts, as well as various trading platforms such as MT4, MT5, and iRESS. FP Markets also provides 24/7 customer support and a comprehensive range of educational resources for traders of all levels. While there are some potential drawbacks such as non-trading fees and limited leverage for certain instruments, the overall trading experience with FP Markets is generally positive.

FAQs

  • Q: Does FP Markets offer demo accounts?

    A: Yes, FP Markets offers demo accounts which can be used for practicing trading strategies and familiarizing oneself with the trading platforms.

  • Q: What is the minimum deposit requirement at FP Markets?

    A: The minimum deposit requirement at FP Markets is $100.

  • Q: What instruments can be traded at FP Markets?

    A: FP Markets offers a wide range of instruments including forex, shares, indices, commodities, cryptocurrencies, and more.

  • Q: Does FP Markets offer Islamic accounts?

    A: Yes, FP Markets offers Islamic accounts for clients who require them.

  • Q: What is the maximum leverage available at FP Markets?

    A: The maximum leverage available at FP Markets varies depending on the regulatory jurisdiction. The Australian entity offers up to 1:500 leverage for forex trading, while the CySEC entity offers up to 1:30.

  • Q: What are the trading fees at FP Markets?

    A: FP Markets charges spreads and commissions on trades, with the specific fees varying depending on the trading instrument and account type.

  • Q: What are the deposit and withdrawal options at FP Markets?

    A: FP Markets offers a range of deposit and withdrawal options including bank transfers, credit/debit cards, e-wallets, and more.

  • Q: What kind of customer support is available at FP Markets?

    A: FP Markets offers 24/7 customer support through various channels including live chat, email, and phone.

fxcl
Aspect Information
Registered Country/Area St. Vincent and the Grenadines
Company Name FXCL Markets Ltd
Regulation Previous license revoked (Vanuatu Financial Services Commission)
Minimum Deposit Not specified (may vary by account type)
Maximum Leverage Up to 1:2000 (varies by account type)
Spreads Fixed and floating spreads (specifics vary by account type)
Trading Platforms MetaTrader 4 (MT4) on various devices
Tradable Assets Forex, Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities
Account Types Fixed Spread Account, Floating Spread Account, Special Accounts (specifics provided in previous responses)
Customer Support Email support, registered address (specifics provided in previous responses)
Payment Methods Various methods including Online Bank (Paytrust), Instant Deposits via 'H2P,' Crypto (AlphaPo), PerfectMoney, Local Deposit, FasaPay, Dragonpay (specifics provided in previous responses)
Educational Tools Forex glossary, Market analysis overview for beginners, Analysis theory (specifics provided in previous responses)

Overview

FXCL Markets Ltd operates from St. Vincent and the Grenadines and was previously regulated by the Vanuatu Financial Services Commission, although its license has been revoked. The company offers a range of trading account types with varying leverage options and spreads, and it utilizes the MetaTrader 4 (MT4) platform for trading across multiple devices. Tradable assets include Forex, Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities. While specific details like the founding year, minimum deposit requirements, and availability of demo or Islamic accounts are not provided, the broker offers email-based customer support and various payment methods. Educational resources include a Forex glossary and materials for both beginner and advanced traders.

basic-info

Regulation

Revoked.

FXCL MARKETS LTD previously held a Retail Forex License regulated by the Vanuatu Financial Services Commission (VFSC), permitting them to offer retail forex trading services. However, the license was revoked at an unspecified date. License revocation typically occurs due to non-compliance with regulatory requirements or financial misconduct. When a license is revoked, the entity is no longer authorized to provide regulated services, and they must cease their operations in that specific area. For detailed information about the revocation and its implications, further inquiry with the VFSC or additional sources is advisable.

regulation

Pros and Cons

Pros Cons
Offers a variety of trading instruments, including Forex, Precious Metals, and Commodities. Previous regulatory license was revoked, raising concerns about regulatory oversight.
Provides multiple account types with varying leverage, spreads, and trading conditions, catering to diverse trader preferences. Limited information available about the broker's history and track record.
Offers the popular MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and robust features. Limited information on the broker's educational resources and market analysis tools.
Supports a range of payment methods for both depositing and withdrawing funds, making it convenient for traders from different regions. Some account types have relatively high margin call and stop-out levels.
Customer support is accessible through email, providing traders with various options for assistance. Lack of information regarding trading fees, such as overnight swap rates.
Provides educational resources, including a Forex glossary and market analysis for beginners, to support traders at different skill levels. Limited transparency about trading spreads and commissions.

FXCL Markets offers a range of advantages, such as diverse trading instruments, multiple account types, and the popular MT4 platform. They also provide various payment methods and accessible customer support. However, concerns arise due to the revocation of their previous regulatory license and limited information on their history and educational resources. Traders should exercise caution and conduct thorough research when considering this broker.

Market Instruments

Based on the information provided, the broker offers a variety of trading instruments that encompass several categories, including Foreign Exchange (Forex), Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities. Here's a description of each category of market instruments offered by the broker:

  1. Foreign Exchange (Forex): Forex trading involves the exchange of one currency for another, and it is one of the most popular forms of trading. In this category, the broker likely provides a wide range of currency pairs for trading, allowing clients to speculate on the price movements of different currencies, such as EUR/USD, GBP/JPY, and more.

  2. Precious Metals: Precious metals trading typically includes instruments like gold, silver, platinum, and palladium. Traders can buy or sell these metals to profit from changes in their market prices. Precious metals are often considered safe-haven assets and are used for diversification and hedging purposes.

  3. Commodities: Commodities trading involves various physical goods like oil, natural gas, agricultural products, and more. These commodities are traded in futures and spot markets, and traders can speculate on price fluctuations. Commodity trading can be attractive for those looking to diversify their portfolios.

  4. Fund Management: Fund management implies that the broker may offer services related to managing investment funds. This could include portfolio management, asset allocation, and investment advisory services to help clients grow their investments.

  5. Clearing: Clearing services are often associated with the settlement and clearing of financial transactions, ensuring the smooth and secure transfer of assets between buyers and sellers. Brokers may offer clearing services to facilitate trading activities.

  6. Primary Brokering: Primary brokering typically refers to the intermediary role in trading securities. This may involve connecting buyers and sellers in various markets, such as stock exchanges or fixed-income markets, to execute trades.

  7. Other Legal Activities: This category is quite broad and could encompass a range of financial and legal services. It may include activities related to regulatory compliance, legal advisory, or other financial services permitted by the regulatory authorities.

Market Instrument Category Examples of Instruments
Foreign Exchange (Forex) Currency pairs (e.g., EUR/USD, GBP/JPY)
Precious Metals Gold, silver, platinum, palladium
Commodities Oil, natural gas, agricultural products
Fund Management Portfolio management, asset allocation
Clearing Settlement and clearing services
Primary Brokering Intermediary services for securities
Other Legal Activities Regulatory compliance, legal advisory

Please note that the specific instruments offered by the broker within each category may vary, and clients should refer to the broker's offerings and terms and conditions for precise details on available trading options.

market-instruments

Account Types

FXCL offers three tiered trading account types, each catering to the diverse needs and preferences of traders. These account types are designed to provide flexibility in terms of leverage, spreads, and trading conditions. Let's explore each account type in detail.

  1. Fixed Spread Account

    1. Account Currency: This account is available in US cent, EU cent, MYR cent, and THB cent for Cent accounts. For Standard accounts, it supports USD, EUR, MYR, THB, and NGN.

    2. Leverage: Cent accounts offer leverage up to 1:1000, while Standard accounts offer leverage up to 1:500.

    3. Spread: Both Cent and Standard accounts have fixed spreads, starting from 1 pip. The full spread list is available for reference.

    4. Margin Call/Stop Out Level: Both account types share a margin call level of 30% and a stop-out level of 10%.

    5. Execution: Instant execution is provided for both account types.

    6. Position Size: Cent accounts support positions ranging from 0.01 to 200.00 lots, while Standard accounts allow positions from 0.01 to 2.00 standard lots.

    7. Max. Number of Positions Online: Cent accounts allow up to 150 positions, while Standard accounts permit up to 100.

    8. Commission: There is no commission for trading in either account type.

    9. Quotes: Both account types offer basic quotes with 4 digits after the comma.

    10. Swap Interest: Swap-free options are available for traders who require them.

    11. Hedging Policy: Hedging is permitted except between swap and swap-free accounts.

    12. Locked-Up Margin for Hedged Positions: There is no locked-up margin for hedged positions in either account type.

    13. Strategy Policy: Generally, there are no limits on trading strategies for both account types.

  2. Floating Spread Account

    1. Account Currency: This account type supports USD, MYR, THB for Start accounts, US cent, MYR cent, THB cent for Interbank Cent accounts, USD, MYR, THB, NGN for Interbank Standard accounts, and USD for ECN Pro accounts.

    2. Leverage: The leverage varies, with Start accounts offering up to 1:2000, Interbank Cent and Interbank Standard accounts offering up to 1:500, and ECN Pro accounts offering up to 1:300 for Forex and metals, up to 1:100 for indices, and up to 1:10 for crypto.

    3. Spread: All these account types feature floating spreads, with different starting points. Detailed spread lists are available for reference.

    4. Margin Call/Stop Out Level: Margin call and stop-out levels vary between account types, offering flexibility to traders.

    5. Execution: Market execution is provided for all floating spread account types.

    6. Position Size: Position sizes vary across account types and asset classes, providing options for different trading strategies.

    7. Max. Number of Positions Online: The maximum number of online positions varies, allowing traders to choose their preferred trading volume.

    8. Commission: Commission structures differ for each account type and asset class.

    9. Quotes: All floating spread account types offer extended quotes with 5 digits after the comma.

    10. Swap Interest: Swap-free options are available, and swap interest varies based on the specific account type and asset class.

    11. Hedging Policy: Hedging is generally allowed, except between swap and swap-free accounts.

    12. Locked-Up Margin for Hedged Positions: There is no locked-up margin for hedged positions in any of these account types.

    13. Strategy Policy: The broker typically allows various trading strategies, including scalping and algorithmic trading, particularly in ECN Pro accounts.

  3. Special Accounts

    1. Account Currency: Both account types are denominated in USD.

    2. Leverage: Leverage of up to 1:1000 is available for both Live Contest and Volume Cash accounts.

    3. Spread: These accounts offer floating spreads, and detailed spread lists are provided.

    4. Margin Call/Stop Out Level: Both account types share a margin call level of 70% and a stop-out level of 50%.

    5. Execution: Automatic Market Execution is applied to both account types.

    6. Position Size: Position size ranges are suitable for Forex and metals trading.

    7. Max. Number of Positions Online: Traders can maintain a maximum of 50 positions online in these accounts.

    8. Commission: There is a commission of $1.5 per lot for Forex and metals trading in both Live Contest and Volume Cash accounts.

    9. Quotes: Both account types offer extended quotes with 5 digits after the comma.

    10. Swap Interest: Swap-free options are available for traders who require them.

    11. Hedging Policy: Hedging is allowed in both account types, except between swap and swap-free accounts.

    12. Locked-Up Margin for Hedged Positions: There is no locked-up margin for hedged positions in these accounts.

    13. Strategy Policy: Generally, there are no limits on trading strategies for both Live Contest and Volume Cash accounts.

Account Type Account Currency Leverage Spread Type Margin Call/Stop Out Execution Max. Position Size Max. Positions Online Commission Quotes Swap Interest Hedging Policy Locked-Up Margin for Hedged Positions Strategy Policy
Fixed Spread Cent: US cent, EU cent, MYR cent, THB cent Standard: USD, EUR, MYR, THB, NGN Up to 1:1000 (Cent) Up to 1:500 (Standard) Fixed, starting from 1 pip 30%/10% Instant Cent: 0.01 - 200.00 lot Standard: 0.01 - 2.00 standard lot Cent: 150 Standard: 100 No Basic (4 digits) Swap-free available Hedging allowed except between swap and swap-free accounts 0% Generally, no limits
Floating Spread Start: USD, MYR, THB Interbank Cent: US cent, MYR cent, THB cent Interbank Standard: USD, MYR, THB, NGN ECN Pro: USD Start: Up to 1:2000 Interbank Cent/Standard: Up to 1:500 ECN Pro: Up to 1:300 (Forex, metals) Up to 1:100 (Indices) Up to 1:10 (Crypto) Floating Varies Market Varies based on account type and asset class Varies based on account type Varies Extended (5 digits) Swap-free available Hedging allowed except between swap and swap-free accounts 0% Generally, no limits
Special Accounts Live Contest: USD Volume Cash: USD Up to 1:1000 Floating 70%/50% Automatic Market Execution 0.01 - 3.00 standard lot 50 $1.5 per lot (Forex, metals) Extended (5 digits) Swap-free Hedging allowed except between swap and swap-free accounts 0% Generally, no limits
account-types

Leverage

A leverage ratio of 1:2000 means for every $1 you deposit, the broker provides you with up to $2000 in trading funds. It amplifies potential profits but also increases risk, so it's crucial to trade responsibly and be aware of market movements to avoid losses. Leverage availability varies among brokers and markets, and it's essential to understand your broker's specific terms and conditions.

leverage

Spreads & Commissions

  1. Fixed Spread Accounts:

  • Cent Account: Fixed spreads starting from 1 pip, no commission.

  • Standard Account: Fixed spreads starting from 1 pip, no commission.

  1. Floating Spread Accounts:

  • Start Account: Floating spreads, no commission.

  • Interbank Cent Account: Floating spreads starting from 1.1 pip, no commission.

  • Interbank Standard Account: Floating spreads starting from 1.1 pip, no commission.

  • ECN Pro Account: Floating spreads, commissions vary ($3 per lot for Forex and metals; 0.15% per lot for cryptocurrencies).

  1. Special Accounts:

  • Live Contest Account: Floating spreads, commission of $1.5 per lot for Forex and metals.

  • Volume Cash Account: Floating spreads, commission of $1.5 per lot for Forex and metals.

This summary provides a clear overview of the spreads and commissions associated with each account type, helping traders make informed choices based on their trading preferences.

Deposit & Withdrawal

Depositing Funds:

When you open your trading account, you can easily deposit funds directly from your Trader's Cabinet, where you'll find step-by-step instructions. The broker offers several payment methods for depositing funds:

  1. Online Bank (Paytrust): This local payment method allows deposits from the main banks of Indonesia, Malaysia, and Vietnam. It provides instant deposits.

  2. Instant Deposits via 'H2P': You can make instant deposits from the main local banks of Indonesia, Malaysia, and Vietnam using the 'H2P' payment system. FXCL covers the fees for deposits made through this method.

  3. Crypto (AlphaPo): This is an instant payment system with automatic conversion from BTC and USDT to USD and EUR. It offers an easy deposit procedure.

  4. PerfectMoney: You can fund your PerfectMoney account directly by wire transfer or via exchangers. It's an instant payment system with low fees.

  5. Local Deposit: This convenient, low-fee payment method allows you to work with your local currency through internal transfers to popular national banks. Processing of Local Deposits takes up to 1 business day.

  6. FasaPay: A known payment service that guarantees quick and safe transactions, available in USD and IDR for Indonesia and in USD for Malaysia. FXCL provides full fee coverage for FasaPay deposits.

  7. Dragonpay: Allows deposits in PHP via online banking and ATMs for clients from the Philippines.

Withdrawing Funds:

To withdraw your funds, you can log in to your Trader's Cabinet and make a withdrawal request, which will be processed within 1 business day. Please note that you need to verify your profile before withdrawing funds. The withdrawal methods available include:

  1. Online Bank (Paytrust): This method processes withdrawals to the main banks of Indonesia, Malaysia, and Vietnam.

  2. Local Payments via 'H2P': Withdrawals to the main local banks of Indonesia, Malaysia, and Vietnam can be made using the 'H2P' payment system.

  3. Crypto (AlphaPo): An instant payment system with automatic BTC to USD and EUR conversion.

  4. PerfectMoney: You can withdraw funds directly via wire transfer or exchangers if you funded your PerfectMoney account with a Credit Card or other e-currencies. It offers low fees.

  5. Local Deposit: Similar to the deposit process, this method allows low-fee withdrawals in your local currency through internal transfers to popular national banks.

  6. FasaPay: Known for quick and safe transactions, available in USD and IDR for Indonesia and in USD for Malaysia. Withdrawal fees for FasaPay are very low.

  7. Dragonpay: Enables withdrawals in PHP via online banking and ATMs for clients from the Philippines.

It's important to follow some basic rules when making requests:

  • Third-party transactions are not accepted.

  • Deposit methods on the same account cannot be mixed.

  • Withdrawal methods can be mixed, and the broker may cover payment fees as part of a promotional campaign.

  • The limits for fee coverage are $500 for deposits and $100 for withdrawals per trader per month.

  • The company retains the right to apply reverse compensation fees, and the fee may be deducted from available funds across the client's accounts.

In summary, this broker offers a variety of payment methods for both depositing and withdrawing funds, catering to traders from different regions and preferences. The process is user-friendly and ensures the security of transactions.

deposit-withdrawal

Trading Platforms

This broker provides the highly popular MetaTrader 4 (MT4) trading platform, trusted by millions of traders worldwide. MT4 is available for various operating systems, including Android, iOS, Windows, macOS, and via a web terminal or the AppGallery for Android devices.

To install MT4 on Windows, traders can download the fxcl4setup.exe file and initiate the installation process by clicking on it. Accepting the License Agreement starts the automatic installation, and users can also choose to save the installation file for later use. Importantly, this download and installation are entirely free.

For uninstalling MT4 on Windows, users can access the Control Panel, select “Add or Remove Programs” (or “Programs and Features” in Windows 7), locate “MetaTrader – FXClearing,” and confirm the uninstallation.

Additionally, useful documentation is available, including the “MT4 User Guide” for platform features and the “FXCL Markets End-User License Agreement (EULA)” for legal terms.

In summary, this broker offers the widely trusted MetaTrader 4 (MT4) platform, accessible across various devices and operating systems. MT4 is known for its user-friendly interface and robust trading capabilities, making it a preferred choice for traders of all levels.

trading-platform

Customer Support

Customer Support at this broker is easily accessible through various means, providing traders with multiple options to address their inquiries or concerns.

Contact Options:

  1. Email Support: Traders can reach out to the broker by sending an email. The required contact details include your name, email address, MT4 Account number, and the nature of your inquiry or message. This method allows for detailed communication and documentation of queries.

  2. Registered Address: The broker provides its registered address as Suite 305, Griffith Corporate Center, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. While this address is primarily for official purposes, it can serve as a reference point.

  3. Email Addresses: The broker offers specific email addresses for different purposes, such as general support inquiries via support@fxclearing.com and bonus-related requests via rebate@fxclearing.com. This segmentation allows for efficient handling of various types of requests.

Customer-Centric Approach:

The broker's customer support team aims to provide timely and helpful assistance to traders. Whether it's inquiries about trading, account management, technical issues, or bonus-related matters, traders can expect a dedicated response based on the nature of their query.

The provision of specific email addresses for different types of requests ensures that inquiries are directed to the appropriate department, streamlining the support process. This tailored approach allows for more efficient and effective customer service.

In summary, this broker offers a customer support system designed to meet the diverse needs of traders. With multiple contact options and specialized email addresses, traders can easily reach out for assistance and expect a customer-centric approach to addressing their queries and concerns.

customer-support

Educational Resources

FXCL Markets offers a robust array of educational resources to support traders at all levels. These resources include:

  1. Forex Glossary: FXCL Markets provides a comprehensive Forex glossary, offering traders valuable definitions and terminology essential for their trading journey.

  2. Market Analysis Overview for Beginners: Tailored for novice traders, this overview introduces the fundamental concepts of market analysis, encompassing both fundamental and technical aspects.

  3. Analysis Theory: FXCL Markets recognizes the importance of proper market analysis. Their educational materials delve into the intricacies of fundamental and technical analysis, empowering traders to make informed decisions.

In essence, FXCL Markets' educational resources cover the essentials, making it a valuable hub for traders seeking to enhance their trading knowledge and skills. Explore these resources further on the FXCL Markets Education page.

educational-resources

Summary

FXCL Markets is a Forex broker offering various trading instruments across categories like Foreign Exchange (Forex), Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and more. Traders can choose from three account types, each with distinct features to cater to their preferences. The broker provides the popular MetaTrader 4 (MT4) trading platform, accessible on multiple devices. Traders can deposit and withdraw funds through various methods, making transactions easy and secure. FXCL Markets places emphasis on customer support, offering multiple contact options and specialized email addresses for inquiries. Additionally, they provide a range of educational resources to support traders at all levels, including a Forex glossary and market analysis materials. It's important to note that their previous regulatory license has been revoked, and traders should exercise caution.

FAQs

Q1: What is FXCL Markets?

A1: FXCL Markets is a brokerage firm that offers online trading services in various financial markets, including Forex, Precious Metals, Commodities, and more.

Q2: Is FXCL Markets regulated?

A2: FXCL Markets previously held a retail forex license regulated by the Vanuatu Financial Services Commission (VFSC), but the license was revoked. Traders should conduct further research to understand the implications of this revocation.

Q3: What trading platforms does FXCL Markets offer?

A3: FXCL Markets provides the MetaTrader 4 (MT4) trading platform, available for different operating systems, including Android, iOS, Windows, macOS, and web-based.

Q4: What are the account types at FXCL Markets?

A4: FXCL Markets offers three types of accounts: Fixed Spread, Floating Spread, and Special Accounts, each designed to cater to specific trading preferences and conditions.

Q5: How can I contact FXCL Markets' customer support?

A5: You can contact FXCL Markets' customer support by sending an email to support@fxclearing.com for general inquiries or rebate@fxclearing.com for bonus-related requests. Additionally, you can find their registered address in St. Vincent and the Grenadines for reference.

Are the transaction costs and expenses of fp-markets, fxcl lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive fp-markets and fxcl are, we first considered common fees for standard accounts. On fp-markets, the average spread for the EUR/USD currency pair is From 0.0 pips, while on fxcl the spread is from 0.1.

Which broker between fp-markets, fxcl is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

fp-markets is regulated by ASIC,CYSEC. fxcl is regulated by VFSC.

Which broker between fp-markets, fxcl provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

fp-markets provides trading platform including Raw,Standard and trading variety including 70+ FX pairs, metals, indices, commodities. fxcl provides trading platform including ECN Pro account,Volume Cash account,Live Contest account,Interbank Cent account,Interbank Standard account,Start account,Standard account,Cent account and trading variety including --.

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