Score

2.23 /10
Danger

FXCL

Botswana

5-10 years

Suspicious Regulatory License

MT4 Full License

Regional Brokers

Vanuatu Retail Forex License Revoked

High potential risk

C

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Comparison

Quantity 10

Exposure

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Website

Score

Regulatory Index0.00

Business Index7.64

Risk Management Index0.00

Software Index8.22

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
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Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

FXCL Markets Ltd

Company Abbreviation

FXCL

Platform registered country and region

Botswana

Company website

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 4
Previous Detection : 2025-08-15
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 9 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Pyramid scheme complaint
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    Sources
    FXCL · Company summary
    FXCLReview Summary
    Founded2006
    Registered Country/RegionSaint Vincent and the Grenadines
    RegulationVFSC
    Market InstrumentsForex, indices, cryptocurrencies, metals
    Demo Account
    LeverageUp to 1:2000
    SpreadLow
    Trading PlatformMT4 Margin WebTrader
    Min Deposit$1
    Customer SupportEmail: support@fxclearing.com
    Registered office: Plot 54368 Western Commercial Road, The Hub, Itowers, Cbd, Gaborone, Botswana.

    FXCL Information

    FXCL, founded in 2006, is a forex brokerage registered in Saint Vincent and the Grenadines. It is regulated by VFSC. Its current status is revoked. It charges no fees or commissions. Its leverage is up to 1:2000.

    FXCL Information

    Pros and Cons

    Pros Cons
    VFSC regulatedLimited customer support options
    Wide range of currency pairs and trading instrumentsFixed spreads
    Low minimum deposit of $1No Islamic trading account
    Eight types of trading accounts to choose fromNo MT5 supported
    Generous leverage up to 1:2000No phone number information offered
    Competitive spreads and low trading fees
    MT4 trading platform and webtrader supported
    Copy trading available
    Demo account available

    Is FXCL Legit?

    FXCL is regulated by VFSC in Vanuatu. Its current status is revoked.

    Regulated CountryRegulated AuthorityRegulated EntityLicense TypeLicense NumberCurrent Status
    VanuatuVFSCFXCL Markets LtdRetail Forex License14610Revoked
    Is FXCL Legit?

    What Can I Trade On FXCL?

    FXCL offers traders forex, indices, cryptocurrencies, metals to trade.

    Tradable Instruments Supported
    Forex
    Indices
    Metals
    Cryptocurrencies
    Commodities
    Stocks
    Futures
    Options

    Account Types

    FXCL offers 4 different types of accounts to traders - Start Account, Cent Account, Standard Account, Interbank Cent Account, Interbank Standard Account, ECN Pro Account, Live Contest Account, Volume Cash Account. It also provides demo accounts.

    Account TypeStart AccountCent AccountStandard AccountInterbank Cent AccountInterbank Standard AccountECN Pro AccountLive Contest AccountVolume Cash Account
    Leverage1:20001:10001:5001:5001:5001:3001:10001:1000
    SpreadsFloating for full spread listFixed for fufor full spread listFixed for fufor full spread listFloating starting from 1.1 pip with a 5-digit price feed for full spread listFloating,starting from 1.1 pip with a 5-digit price feed for full spread listFloating, starting from 0.1 pip with a 5-digit price feedFloating for full spread listFloating for full spread list
    Position Size0.01-1.00 (standard lot)0.01-200 (micro lot)0.01-2.00 (standard lot)0.01-500 (micro lot)0.01-5.00 (standard lot)0.01-50.00 (standard lot)0.01-3.00 (standard lot)0.01-3.00 (standard lot)
    ExecutionMarketInstantInstant/MarketMarketMarketMarketAutomatic Market ExecutionAutomatic Market Execution
    Account Types
    Account Types
    Account Types

    FXCL Fees

    FXCL's spreads are as low as 0 pips. FXCL charges low commissions. It charges $3 per lot for forex, metals, indices 0.15% per lot of Crypto when transaction happens in ECN Account and $1.5 per lot for forex, metals when transaction happens in Live Contest Account and Volume Cash Account. The min deposit is $1.

    FXCL Fees

    Trading Platform

    FXCL's trading platform is MT4 Margin WebTrader, which supports traders on PC, Mac, iPhone and Android.

    Trading PlatformSupported Available Devices Suitable for
    MT4 Margin WebTraderWeb, MobileBeginner
    MT5
    Trading Platform

    Deposit and Withdrawal

    FXCL offers a lot of deposit and withdrawal methods.

    Deposit

    MethodProcessing TimeFees
    Online bank (Asiabank)InstantN/A
    Crypto (Alphacoins)InstantN/A
    PerfectMoneyInstantLow fees
    Local DepositUp to 1 business dayLow fees
    FasaPayQuickFXCL provides full fee coverage for all Fasapay deposits
    DragonpayInstantN/A
    Deposit and Withdrawal

    Withdrawal

    MethodProcessing TimeFees
    Online bank (Asiabank)InstantN/A
    Crypto (Alphacoins)InstantN/A
    PerfectMoneyInstantLow fees
    Local DepositUp to 1 business dayLow fees
    FasaPayQuickLow fees
    DragonpayInstantN/A
    Deposit and Withdrawal

    Copy Trading

    FXCL's copytrading offers an opportunity to automatically follow good traders and monitor the markets.

    Any FXCL client may open an ECN Copy Pro account as a Follower (hereinafter, Follower‘s Account).In order to open an ECN Copy Pro account as a Signal Provider (hereinafter, Provider’s Account), the client should verify the Traders Cabinet first and provide a link to his/her previous trading results on Myfxbook, MQL5 or FX Blue resource or upload an MT4 statement from his/her previous trading account (any account type from any broker is allowed).

    Copy Trading
    Copy Trading

    News

    ExposureGoing to Invest in FXCL? Move Back to Avoid Scams & Losses

    Are FXCL officials calling you to make you a customer by promising a magical profit number? Stop! These officials follow this route to onboard customers and make them deposit at regular intervals. However, when you wish to withdraw, the officials will deny your request. This is nothing but a strong indicator of a scam forex broker. In this article, we will expose the wrongdoings of this Botswana-based broker.

    WikiFX
    2025-08-14 19:13
    Going to Invest in FXCL? Move Back to Avoid Scams & Losses

    News FXCL Lucky Winter Festival Begins

    The FXCL Lucky Winter Festival has officially begun. You can be a part of this promotion. Here are all the details about this promotion.

    WikiFX
    2025-01-09 17:17
     FXCL Lucky Winter Festival Begins

    NewsFXCL Summer Contest

    FXCL is hosting a summer contest for all its clients. The contest offers a platform for traders to test their strategies and compete for attractive prizes. The registration process is ongoing. The contest will begin on August 5, 2024, until August 9, 2024.

    WikiFX
    2024-08-01 12:41
    FXCL Summer Contest

    ExposureReview of FXCL Markets Ltd: Caution Advised for Potential Investors

    FXCL Markets Ltd. lacks regulatory oversight, posing risks despite using MetaTrader 4. Investors face challenges with withdrawals and financial instability, highlighting the importance of choosing regulated brokers.

    WikiFX
    2024-04-16 18:07
    Review of FXCL Markets Ltd: Caution Advised for Potential Investors

    User Reviews

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    User comment

    9

    Comments

    Write a review

    Mike8924
    0-3months
    I deposited funds into FXClearing (FXCL Markets Ltd.) and was placed under a managed account handled by Tech-RMS (RMS Technologies Ltd.), acting as the MAM. After checking the reviews, background of the company, and finding that none of my emails were being answered, I submitted multiple formal revocation requests — as clearly allowed in the signed Limited Power of Attorney agreement — but FXClearing has never responded. They completely ignore all support channels: * Their official emails (support@fxclearing.com, info@fxclearing.com) never reply * Live chat is always offline * No hotline or working phone number * Meanwhile, Tech-RMS continues to call me using random, untraceable numbers I already submitted screenshots of the revocation clause and multiple withdrawal attempts, but they still refuse to act. It seems like a coordinated setup designed to trap client money while passing blame between the broker and a fake "agent."
    I deposited funds into FXClearing (FXCL Markets Ltd.) and was placed under a managed account handled by Tech-RMS (RMS Technologies Ltd.), acting as the MAM. After checking the reviews, background of the company, and finding that none of my emails were being answered, I submitted multiple formal revocation requests — as clearly allowed in the signed Limited Power of Attorney agreement — but FXClearing has never responded. They completely ignore all support channels: * Their official emails (support@fxclearing.com, info@fxclearing.com) never reply * Live chat is always offline * No hotline or working phone number * Meanwhile, Tech-RMS continues to call me using random, untraceable numbers I already submitted screenshots of the revocation clause and multiple withdrawal attempts, but they still refuse to act. It seems like a coordinated setup designed to trap client money while passing blame between the broker and a fake "agent."
    Translate to English
    2025-08-05 11:01
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    Juciee
    more than one year
    FXCL offers a variety of payment methods for traders to choose from, which is convenient. Their trading platforms, such as MT4, are widely used and offer a range of features.
    FXCL offers a variety of payment methods for traders to choose from, which is convenient. Their trading platforms, such as MT4, are widely used and offer a range of features.
    Translate to English
    2024-07-17 17:39
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