FXCess Forex broker review – What you need to know

FXCess is a Forex and CFDs broker with instant withdrawal processing, 0 pips accounts, a 10 USD minimum deposit requirement, and generous leverage. The broker offers several incentives for onboarding including various bonuses and promotions and ensures every trader can find their comfortable trading environment with added security. Read our review of FXCess Forex broker to assess its safety, assets, platforms, and much more.

FXCess Broker history

FXCess is a Forex and CFDs broker owned by Notesco Limited, operating out of Bermuda and Gibraltar under the name CIFOL Limited in Gibraltar. While not regulated by any of these authorities, FXCess focuses on client safety with several security measures like negative balance protection and segregated accounts. They are also part of an investor compensation fund, offering additional security for client funds. Negative balance protection is especially important as it prevents traders from going into minuses. This measure is most useful for novices who tend to typically blow up their entire account. With FXCess, it is much less likely to blow up an account as the broker offers very reasonable leverages as well. With these many safety features the broker ensures to create a safety net where it is extremely difficult to lose all your funds in financial trading and it is only a matter of time before the broker gets licenses to support these features with official regulations.

FXCess Accounts, deposits, and withdrawals

FXCess Forex broker offers two trading account types, Classic, and ECN. The classic account is commission-free with spreads starting at 0.5 pips, suitable for general swing trading and day trading. It requires a minimum deposit of 10 USD and offers a swap-free option for Sharia-compliant trading. The ECN account, ideal for scalpers, offers 0 pip spreads with a 4.5 USD commission per lot and also requires a 10-dollar minimum deposit. Both trading accounts provide 24/5 dedicated account managers and support multiple base currencies such as EUR, GBP, JPY, USD, NGN, and IDR.

Deposits and withdrawals

Deposits and withdrawals are quick, especially for bank card transactions, which are processed instantly. Wire transfers take 2-5 business days. There are no fees for these transactions, making the broker one of the cheapest when it comes to withdrawals. The withdrawal processing instantly is a huge advantage and benefit for FXCess clients. Despite having numerous account-based currencies, deposits and withdrawals can only be made in JPY, EUR, USD, or GBP. Traders can then convert these currencies into their preferred currency and start trading. The account opening process is super simple and will take less than a minute for both demo and live.

FXCess Assets and Platforms

FXCess offers a range of assets, including Forex pairs, commodities, indices, shares, and even futures. There are more than 300 different instruments available for trading on both desktops and mobile. All these assets are CFDs allowing instant buy and sell very beneficial execution, especially for stock traders. All these assets are available on two trading platforms the broker provides. Trading is facilitated through the MetaTrader 4 platform and the FXCess mobile trading app. MT4 supports automated trading via Expert Advisors (EAs) and offers a variety of built-in and custom indicators. The FXCess app allows for mobile trading with all the necessary features to manage trades on the go.

FXCess spreads and leverage

The spreads on classic accounts start from 0.5 pips. This spread is very competitive and allows commission-free trading for general day trading strategies. However, the broker has dedicated ECN accounts for scalpers with 0 pips spreads and charges a low commission of $4.5 per lot. The maximum leverage is capped at 1:1000, which provides significant trading power but can be risky, especially for beginners. With these two accounts, FXCess offers true trading account diversity allowing traders with all trading styles to find suitable accounts and take advantage of serious trading power provided by the leverage. As with anything else, this leverage, too, is a powerful trading enhancer in the hands of seasoned traders with well-tested strategies.

FXCess education and support

Educational resources at FXCess Forex broker include a blog covering Forex trading, financial trading concepts, and trading strategies. Although not a substitute for comprehensive training courses, the blog offers useful insights for beginners. Customer support is available via live chat, email, and phone, with multilingual support staff ready to assist in multiple languages. The website of FXCess is also multilingual. Every trader has a dedicated account manager available 24/5 to ensure they resolve all issues quickly and efficiently and focus only on trading activities which is very advantageous for beginners.

FXCess review conclusion

FXCess is a solid choice for traders looking for attractive trading conditions like low spreads and high leverage. The broker offers secure trading with negative balance protection and segregated accounts. Despite the lack of regulation, FXCess provides a reliable trading experience with good customer support and educational resources. Instant withdrawals are what makes this broker so competitive within the Forex realm.

Overall, FXCess is recommended for its unparalleled trading conditions allowing traders to implement any trading strategy with a super low budget.