What is Fxcess?
Fxcess, is a financial trading platform headquartered in the United Kingdom. It operates under the regulation of FCA, though there are suspicions regarding the authenticity of its FCA license. The platform provides its users a wide range of market instruments to trade, including currency pairs, precious metals, indicies, and commodities. New users can familiarize themselves with the platform through its available demo account. Fxcess offers a leverage of up to 1:1000, with EUR/USD spreads at 0.5 pips. They have multiple trading platforms for users to choose from, including MT4, and PMAM. For any assistance, customers can reach out to their support team via phone, email, 24/5 live chat, contact form or social media (Twitter, Instagram, Facebook).
Pros & Cons
Pros:
- 300+ Trading Instruments: Fxcess Exchange offers a vast range of over 300 trading instruments. This extensive offering allows traders to diversify their portfolios and explore a wide variety of markets, thereby potentially reducing risk and increasing opportunities.
- Profound Professional Support: Quality customer support is crucial in the world of trading, and Fxcess Exchange delivers with profound professional support. This ensures that traders can get the help they need quickly, be it technical, transactional, or informational.
- Demo Account: The availability of a demo account is beneficial for both novice and experienced traders. Newbies can practice without risking real capital, while veterans can test out new strategies before applying them in the live market.
- Instant Execution: With instant execution, traders can capitalize on market opportunities without significant delays. This feature ensures that traders get their desired positions at the prices they want, especially in fast-moving markets.
Cons:
- Restricted access in certain countries: Fxcess caters to most international traders.Traders from Hong Kong or Russia will not be able to access or use the platform, limiting its global reach.
Is Fxcess Safe or Scam?
Fxcess is regulated by the Bermuda Monetary Authority under license number 51491, with a common business registration and an exceeded status.
Market Instruments
Fxcess boasts a comprehensive and diverse array of market instruments, catering to the varied needs of its global clientele. From traditional forex trading to innovative cryptocurrency CFDs, the platform provides multiple avenues for potential investment. Here are some examples of the instruments available:
Currency Pairs Trading
The Forex segment at Fxcess features traditional instruments for this market. With Forex trading, investors can exchange currency pairs such as EUR/USD and GBP/USD towards what they believe could be more potentially profitable.
Precious Metals
Precious metals, notably gold, have consistently been viewed as reliable assets during market crises and periods of high volatility. Investors could trade gold and sliver through CFDs in long and short positions.
World Indices CFD Trading
Instruments in this category allow traders to engage with indices from leading stock exchanges. The pricing of these instruments is set in the local currency of each specific index such as UK 100, Wall Street, Germany 30.
Commodities
This segment comprises trading on Brent Crude, Coffee, Sugar, and many others.
Futures
Fxcess provides investors with access to 50 futures including US500, USOil, NATGas, Coffee. Investors could explore the trading opportunities futures provide and create sustainable strategies for their portfolio.
Account Types
Fxcess not only offers demo accounts for prospective traders to familiarize themselves with the platform but also provides an extensive range of benefits when one opts to open an online trading account. Investors can choose between the Classic account offers zero commissions, with competitive spreads and the ECN account offers low to zero spreads with a minor commission fee.
Leverage
Fxcess provides traders with the ability to maximize their trading potential through the use of leverage. Leverage is a powerful tool that allows traders to open positions much larger than their initial deposit. By offering leverage as high as 1:1000 for classic accounts and 1:500 for ECN accounts, Fxcess enables its clients to amplify their exposure to the market and potentially achieve higher returns on their investments. However, it's important to note that while leverage can magnify profits, it can also amplify losses, making it essential for traders to use this tool judiciously and understand the risks involved.
Spreads & Commissions
Fxcess structures its commissions based on the specific trading accounts, making them variable depending on the chosen currency pairs and other assets. For classic accounts, there is no commission variable spreads from 0.5 pips. For ECN accounts, the commissions is $4.5 per lot rount-turn with spreads from 0 pips.
Trading Platforms
Fxcess offers two versatile trading platforms:
MetaTrader 4 (MT4): Renowned for stability and automated trading using Expert Advisors, with extensive charting and analysis tools.
PMAM: The PMAM platform offers clients an intuitive money management solution with advanced tools for optimum execution. It is one of the most flexible and advanced platforms within the industry. Suitable for both professional traders and money managers.
Choose the platform that suits your trading style and access a wide range of assets with competitive spreads, all in a secure trading environment.
Deposits & Withdrawals
Fxcess provides its users with a diverse array of deposit and withdrawal methods, catering to the varied preferences of its global clientele.
- Wire Transfer: This method usually takes 2 to 5 working days with the deposit fee being determined by your bank. The currencies available are JPY, EUR, USD and GBP.
- Visa Cards: Deposits are processed instantly without any fees.For withdrawals, the same banking card used for depositing needs to be utilized. The currencies available are JPY, EUR, USD and GBP.
Trading Hours
Investors can trade 24 hours a day, starting at 00:00 Monday and closing at 24:00 Friday (server time). Please note that the server time is GMT + 2 (GMT + 3applies during daylight saving/summertime).
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: +44 (0)203282 7777
Email: support@fxcess.com
24/5 live chat: Customers can access live chat via their official website
Contact Form:
Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, and Instagram.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
2025-01-10 08:20
2024-09-27 07:18
