FIC
Pros and Cons
Pros
- Regulated by CYSEC
- Diverse trading instruments: Forex, CFDs, ETFs, bonds, derivatives
- Advanced trading platforms: MT4 and Multi Product Platform
- Clear and consistent commission rates
- Flexible deposit options through various foreign bank accounts
Cons
- Not regulated by major authorities like FCA or ASIC
- Limited trading instruments (no stocks or cryptocurrencies)
- Complex fee structure unsuitable for beginners
- No educational resources for novice traders
- Charges for missing IBAN and payment investigations
Basic Information
User Reviews
FIC Overview
Founded in 2018, FIC is a Cyprus-based forex broker regulated by the Cyprus Securities and Exchange Commission (CYSEC, License No. 326/17). This regulatory oversight ensures that the broker adheres to strict financial standards and provides a level of security for traders engaging in the forex market. Operating from its headquarters in Nicosia, FIC aims to offer a reliable platform for both new and experienced traders in the competitive landscape of forex trading.
Is FIC Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Cyprus Securities and Exchange Commission (CYSEC) | Cyprus | Segregated Funds, Investor Compensation Fund |
Is FIC Regulated and How Are Client Funds Protected?
FIC, operating under the name Fidus Investments Cyprus Ltd, is regulated by the Cyprus Securities and Exchange Commission (CYSEC) with license number 326/17. This regulatory oversight ensures that FIC adheres to strict compliance standards, providing a safer trading environment for clients. Client funds are protected through measures such as segregated accounts, which separate clients’ funds from the company’s operational capital, and participation in the Investor Compensation Fund, which offers additional protection in the event of insolvency. Overall, FIC demonstrates a commitment to regulatory compliance and client fund safety, making it a legit choice for traders seeking a regulated forex broker.
Trading Products and Services
What trading instruments does FIC offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD | 50+ |
| Commodities | Gold, Silver, Crude Oil | 3 |
| Indices | S&P 500, NASDAQ, FTSE 100 | 3 |
| Stocks | Apple, Tesla, Amazon | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
FIC provides a comprehensive range of trading instruments designed to cater to diverse trading styles and experience levels. With offerings across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies, traders can effectively diversify their portfolios. This wide selection allows both beginners and seasoned professionals to implement varied trading strategies, from short-term speculation to long-term investment approaches. By supporting various asset types, FIC enhances traders’ ability to adapt to changing market conditions and optimize their trading performance, making it a valuable platform for anyone looking to engage in the financial markets.
Account Types and Trading Conditions
What Account Types and Fees Does FIC Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, access to major trading instruments | Suitable for small capital practice |
| Professional Account | Experienced traders | Higher leverage, advanced trading tools, lower spreads | Requires verification of trading experience and capital |
| Corporate Account | Corporate clients and institutions | Customizable features, multiple user access, dedicated support | Requires corporate documentation |
| Islamic Account | Muslim traders | Swap-free trading, compliant with Sharia law | Available upon request, requires documentation |
| Demo Account | New traders and those testing strategies | No risk, practice trading with virtual funds | Available to all users |
Account Opening Process
To open an account with FIC, users need to follow these steps:
1. Submit personal information, including name, date of birth, and contact details.
2. Provide employment and financial information to assess trading experience and risk profile.
3. Complete identity verification by submitting a government-issued ID and proof of address (e.g., utility bill).
4. Users can opt for flexibility in account types, with the option to upgrade to a professional account later, depending on their trading volume and experience.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Standard commissions apply |
| CFDs (Stocks) | 1.5 | $5 per lot | Commissions vary by stock |
| CFDs (Indices) | 0.5 | $3 per lot | Competitive rates for major indices |
| CFDs (Commodities) | 1.0 | $4 per lot | Includes energy and gold |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market volatility |
Other Fees
FIC may impose the following additional costs:
– Deposit and withdrawal fees may apply depending on the method used.
– Inactivity fees are charged if the account remains dormant for an extended period.
– Platform usage fees may be applicable for certain trading platforms.
– Overnight interest (swap rates) is charged for positions held overnight.
– Currency conversion fees may apply for deposits or withdrawals in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does FIC Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS, iOS, Android | 2FA, encryption, multiple order types, price alerts, technical indicators | Demo accounts, VPS |
| MT5 | Windows, macOS, iOS, Android | 2FA, encryption, advanced charting, economic calendar, push notifications | Demo accounts, VPS |
| Web Version | Any device with a browser | Login security, symbol lookup, one-click trading, price alerts | API interfaces |
| Mobile App | iOS, Android | Biometric login, market search, price alerts, push notifications | Demo accounts |
FIC offers various platforms to cater to different trading needs. MT4 is suitable for those seeking a reliable and established platform with essential trading tools, while MT5 provides enhanced features for advanced traders requiring multi-asset capabilities. The web version ensures accessibility across devices without installation, and the mobile app allows traders to manage their accounts conveniently on the go. Each platform incorporates secure login options, ensuring the safety of user accounts, alongside fast order execution and real-time alerts for timely decision-making.
Overall, FIC’s focus on mobile trading, secure logins, and efficient search tools enhances the trading experience, making it adaptable for both novice and experienced traders.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-2 business days | No platform fee, 0.5% for third-party | Min €100, Max €50,000/day | EUR |
| GrabPay | Instant | No platform fee, 1.2% e-wallet charge | Min $20, Max $5,000/day | USD, SGD |
| SPEI | Instant | No platform fee, 0.3% for third-party | Min MXN 500, Max MXN 100,000/day | MXN |
| Cryptocurrency | Instant | No platform fee, blockchain fees apply | Min 0.01 BTC, Max 5 BTC/day | BTC, ETH |
| International Wire Transfer | 3-5 business days | Flat fee $30 | Min $200, Max $10,000/day | USD, EUR, GBP |
Minimum Deposit
The minimum deposit requirement for FIC is $100. This amount is consistent across all payment methods. However, for specific account types, such as premium accounts, a higher minimum deposit of $1,000 is required.
How to Withdraw
- Log in to your FIC account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred payment method from the available options.
- Enter the withdrawal amount, ensuring it complies with the limits set by FIC.
- Review and confirm your withdrawal request.
- You will receive a confirmation email once your request is processed.
Customer Support
FIC Customer Support Overview
Support Channels
FIC offers several convenient support channels for customers seeking assistance. Clients can reach out via email at info@fidusinvestments.eu, or contact the support team through telephone at +357 22 502900. Additionally, FIC provides a live chat option on their website for instant help, and they maintain an active presence on social media platforms for broader engagement.
Service Availability
The customer support services at FIC are available 24/5, ensuring that clients can receive assistance during regular trading hours. FIC also offers multilingual support, with representatives fluent in English and Greek, catering to a diverse clientele.
Additional Resources
To enhance the customer experience, FIC provides various educational resources including video tutorials and webinars. Clients can also access market analysis and trading signals, helping them make informed trading decisions.
FIC is dedicated to delivering top-notch support and frequently receives positive feedback from users, highlighting the efficiency and responsiveness of their customer service team. With a commitment to client satisfaction, FIC ensures that help is just a call or click away.
Frequently Asked Questions
Yes, FIC is regulated by the Cyprus Securities and Exchange Commission (CYSEC) under license number 326/17. This regulation ensures that FIC adheres to strict financial standards and provides a level of security for your investments, including client fund protection and transparency in operations.
FIC offers a variety of trading conditions tailored for both novice and experienced traders. The commission structure is flexible and varies depending on the financial instrument. However, it is important to note that the fee structure can be complex, which may be better suited for seasoned traders.
FIC prioritizes fund security by maintaining client funds in segregated accounts with reputable banks. Additionally, as a regulated entity under CYSEC, FIC complies with stringent financial regulations designed to protect client assets and ensure the integrity of the trading environment.
FIC provides customer support through various channels, including phone and email. You can reach their support team at +357 22 502900 or via email at info@fidusinvestments.eu. However, the availability of educational resources and support may be limited, which is something to consider for beginners.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.