FXVC Review 2019 | Is FXVC a Scam or Legit Forex Broker?
Rating breakdown
FXVC Overview
The FXVC online trading brokerage is a leading CFDs online trading brokerage that covers a wide range of financial markets including Forex, Commodities, Stocks, Indices, as well as Cryptocurrencies in the form of CFDs. The brokerage was founded and launched in 2014 with the principles that every trader and investor deserve to be treated with respect.
| # | Broker's Features | FXVC Availability |
|---|---|---|
| # | Commissions | ❌ |
| # | Hedging | ❌ |
| # | PAMM | ❌ |
| # | Scalping | ❌ |
| # | Accepts US traders | ❌ |
| # | 24 hour trading | ✔ |
| # | Swaps | ❌ |
| # | Demo account | ✔ |
| # | Daily analysis | ❌ |
| # | Automated trading | ❌ |
| # | Mobile trading | ❌ |
| # | Trading by phone | ❌ |
| # | 1st deposit bonus | ❌ |
| # | Forex contests competitions | ❌ |
| # | Bonuses Promotions | ❌ |
| # | Interest charges on the balance | ❌ |
| # | Free education | ❌ |
| # | Expert advisors | ❌ |
| # | Partnership programs | ❌ |
| # | Trust management | ❌ |
| # | 24 hour support | ❌ |
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review FXVC.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. FXVC offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks.
Tradable Products: FXVC offers traders the ability to trade a wide array of tradeable financial assets through CFD (Contract for Difference) trading. The markets available to participate in include Forex, Commodities, Indices, Stocks, and Cryptocurrencies.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. FXVC is Market Maker.
As a market maker, FXVC may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. FXVC recommended minimum capital is $250.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXVC is regulated by ASIC, CySEC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: Since the FXVC broker is based out of Cyprus, they are licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license No.238/14. Also, they are considered to be a Cyprus Investment Firm (CIF).
Languages Available: Next lets have a look at each broker's different Language options. FXVC offers English, German, Italian.
Payment methods: Next lets have a look at each broker's payment options. FXVC offers Credit/Debit Cards, Skrill, Bank Wire Transfer different payment methods for each account types.
Deposit and withdrawal: The minimum deposit amount is quite high at €500 and the minimum withdrawal amount is only €20. As for deposit and withdrawal fees, there are none.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, FXVC makes Proprietary available to clients.
Web & Desktop Trading Platforms: FXVC features their very own proprietary trading platform that is entirely web-based and accessible via any web browser on any computer.
Mobile Trading Platforms: The FXVC online trading brokerage Is rolling out a downloadable mobile trading application for their traders, but the proprietary FXVC trading platform is compatible and fully optimized to work on mobile devices including smartphones and tablets.
Promotions
Unfortunately, FXVC does not offer their existing clients or new clients any sort of bonuses or promotions.
Support
The brokerage takes customer service very seriously and is always very responsive and informative when reached out to. Clients can contact support representatives Monday through Friday from 9 am – 5 pm UK time via email, telephone, and live chat.
Final Thoughts
The most disappointing aspect of the FXVC trading brokerage is their high trading fees, largely due to the brokers market maker structure.
Trading Experience
FXVC trading broker is a viable choice and could be the right online trading brokerage for you.