Fxcess
Pros and Cons
Pros
- Diverse range of trading instruments across multiple asset categories
- Multiple account types to cater to different trader needs
- Access to the popular MetaTrader 4 trading platform
- Instant deposit and withdrawal options available
- 24/5 dedicated customer support with multilingual assistance
Cons
- Not regulated by any recognized financial authority
- Limited payment methods (only bank transfers and credit/debit cards)
- High risk due to lack of fund protection measures
- Limited educational resources for traders
- Mixed user reviews regarding customer support and withdrawal processes
Basic Information
User Reviews
Fxcess Overview
Fxcess is a forex broker established over 5-10 years ago and is based in Anguilla. The broker operates under the full company name Notesco Int Limited. While the specific regulatory status is not detailed in the provided information, it is important for traders to consider the regulatory framework governing their trading activities for added security and reliability. More information about the broker can be found at their official site or through trusted financial review platforms like WikiFX.
Is Fxcess Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| N/A | Anguilla | N/A |
Is Fxcess Regulated and How Are Client Funds Protected?
Fxcess is not regulated by any recognized financial authority. This lack of regulation can present significant risks for traders, as there are no established oversight mechanisms to ensure the safety and security of client funds. As a result, traders may face challenges related to fund protection and dispute resolution. Operating without regulatory oversight increases the potential for issues such as fraud or mismanagement of funds. Therefore, it is advisable for traders to exercise caution and consider the implications of trading with an unregulated broker like Fxcess.
Trading Products and Services
What trading instruments does Fxcess offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major & Minor Pairs, Examples include EUR/USD, GBP/JPY | Varies |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Varies |
| Stocks | US (e.g. Apple, Tesla), UK (e.g. BP, Vodafone) | Varies |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Varies |
Fxcess offers a diverse range of trading instruments across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies. This wide selection caters to various trading styles, whether you are a beginner seeking to explore the markets or a professional looking for advanced trading opportunities. The variety of products allows traders to implement various strategies and enhance their portfolios effectively. With access to multiple asset classes, traders can diversify their investments and adapt their approaches to changing market conditions, making Fxcess a versatile choice for those looking to engage in online trading.
Account Types and Trading Conditions
What Account Types and Fees Does Fxcess Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Classic Account | Beginners and casual traders | No commission, variable spreads | Ideal for small-capital practice |
| ECN Account | Experienced traders | Low to zero spreads, low commission | Requires higher trading volume qualifications |
Account Opening Process
To open an account with Fxcess, traders must follow a straightforward process which involves submitting personal, employment, and financial information. Identity verification is a crucial step, requiring the submission of an ID and proof of address. Additionally, traders have the flexibility to upgrade their accounts, such as moving from a Classic to an ECN account as their trading experience and volume increase.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Variable from 1.7 | $0 (Classic), $2.25 (ECN per lot per side) | Competitive pricing on popular pairs |
| CFDs (Stocks, Indices, Commodities) | Variable | $0 (Classic), $4.50 (ECN round-turn) | Includes indices like S&P 500, commodities such as gold and oil |
| Cryptocurrencies | Variable | $0 | Includes major cryptos like BTC and ETH |
Other Fees
Traders should be aware of various additional costs associated with trading on Fxcess. These may include deposit and withdrawal fees, inactivity fees, platform usage fees, overnight interest (swap rates), and currency conversion fees. It is advisable for traders to review these potential costs to fully understand their trading expenses.
Trading Platforms and Apps
What Trading Platforms and Apps Does Fxcess Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | Secure login, multiple order types, technical indicators, symbol lookup | Demo accounts, API interfaces |
| Web Version | Any device with internet access | Secure login, market search, price alerts | N/A |
| Fxcess Mobile App | iOS, Android | Fast and secure login, account management, push notifications | N/A |
Fxcess provides a range of trading platforms to accommodate different trader preferences. The MetaTrader 4 platform is a popular choice, offering extensive features suited for both novice and experienced traders. It supports various operating systems, enabling flexible access to trading tools and market data. The web version allows for convenient trading across devices with secure login and market search capabilities. The Fxcess mobile app enhances trading on the go, enabling quick account management and real-time notifications. Overall, these platforms prioritize secure logins and efficient order execution, ensuring traders can operate effectively in dynamic market conditions.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 business days | No platform fee | Min 50, Max 20k/day | USD, EUR |
| Credit/Debit Card | Instant | No platform fee | Min 50, Max 10k/day | USD, EUR |
| Cryptocurrency | Instant | No platform fee | Min 50, Max 5k/day | BTC, ETH |
| e-Wallet | Instant | 1.5% fee | Min 50, Max 15k/day | USD, EUR |
Minimum Deposit
The minimum deposit requirement for Fxcess is $50. This amount applies across all payment methods and account types, ensuring accessibility for both new and experienced traders.
How to Withdraw
- Log in to your Fxcess account.
- Navigate to the ‘Withdrawals’ section.
- Select your preferred withdrawal method.
- Enter the amount you wish to withdraw, ensuring it meets the minimum withdrawal limit.
- Submit your withdrawal request.
- Wait for confirmation and processing, which may take up to 3–5 business days for bank transfers.
Customer Support
Fxcess Customer Support Overview
Support Channels
Fxcess provides multiple contact methods for customer support, ensuring that traders can easily reach out for assistance. The main support channels include:
- Email: Traders can send inquiries to support@fxcess.com.
- Live Chat: Immediate assistance is available through the live chat feature on the Fxcess website, allowing for fast and reliable support.
- Telephone: Traders can also contact the support team via phone for direct communication.
- Social Media: Fxcess maintains a presence on various social media platforms, providing another avenue for support and engagement.
Service Availability
The Fxcess support team is available 24/5, providing assistance from Monday to Friday. This ensures that help is accessible during regular trading hours. Additionally, Fxcess offers multilingual support to cater to a diverse clientele, enhancing the customer experience across various regions.
Additional Resources
Fxcess also offers a comprehensive FAQ section on their website where traders can find quick answers to common questions. This resource helps users navigate various aspects of trading and account management, providing valuable information to enhance their trading journey.
Frequently Asked Questions
Fxcess is not regulated by any recognized financial authority, which means there are no established oversight mechanisms to ensure the safety and security of client funds. Traders should exercise caution when trading with an unregulated broker like Fxcess.
Fxcess offers a diverse range of trading instruments across multiple asset categories, including Forex (major and minor pairs), commodities (like gold and crude oil), indices (such as S&P 500 and FTSE 100), stocks (including US and UK companies), and cryptocurrencies (like BTC and ETH).
Fxcess provides two main account types: the Classic Account, which is suitable for beginners and casual traders with no commission and variable spreads, and the ECN Account, designed for experienced traders featuring low to zero spreads and a low commission requirement.
Fxcess offers multiple customer support channels, including email, live chat, phone support, and social media. The support team is available 24/5 and provides assistance in multiple languages to cater to a diverse clientele.
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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.