FXVC
Pros and Cons
Pros
- Regulated by Cyprus Securities and Exchange Commission (CySEC)
- Diverse range of trading instruments including forex, commodities, and cryptocurrencies
- Proprietary web-based trading platform with customizable charts
- Educational resources including tutorials and market analysis
- No deposit or withdrawal fees for clients
Cons
- Unregulated status following renouncement of CySEC license
- High minimum deposit of €250 compared to some competitors
- Limited availability of advanced trading platforms like MetaTrader
- Relatively wide spreads on trading instruments
- Weak educational resources for traders
Basic Information
User Reviews
FXVC Overview
FXVC, founded in 2014, is an online trading platform headquartered in the United Kingdom. It operates under the full company name Centralspot Trading Ltd and is regulated by the Cyprus Securities and Exchange Commission (CySEC), ensuring a level of oversight and security for its clients. FXVC has been active in the forex brokerage space for approximately 5-10 years, emphasizing its commitment to providing a reliable trading environment. For more details on its regulatory status and services, you can visit their official page at https://www.wikifx.com/en/dealer/3685139631.html.
FXVC offers a diverse range of trading instruments, including forex, commodities, cryptocurrencies, and CFDs, catering to various trading strategies and preferences. The broker provides a proprietary web-based trading platform that allows traders to access customizable charts and execute trades efficiently. Customer support is available to assist traders with inquiries, ensuring a supportive experience. While FXVC’s minimum deposit starts at €250, it is essential for potential clients to consider their trading needs and conduct thorough research before engaging with the broker to ensure it aligns with their expectations and trading goals.
Is FXVC Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Cyprus Securities and Exchange Commission (CySEC) | Cyprus | Segregated Funds, Investor Compensation Scheme up to €20,000 |
Is FXVC Regulated and How Are Client Funds Protected?
FXVC is regulated by the Cyprus Securities and Exchange Commission (CySEC), which is a reputable financial authority known for enforcing strict compliance and investor protection measures. This regulation helps ensure that client funds are managed securely, with all deposits held in segregated accounts, thereby protecting them from misuse. Additionally, clients are covered under an Investor Compensation Scheme, which provides compensation of up to €20,000 in the event of firm insolvency. FXVC also implements negative balance protection, ensuring that traders cannot lose more than their account balance. Overall, the regulatory oversight from CySEC enhances the trustworthiness of FXVC as a trading platform, making it a safer environment for investors.
Trading Products and Services
What Trading Instruments Does FXVC Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs | Many |
| Commodities | Gold, Oil | Many |
| Indices | S&P 500, NASDAQ | Many |
| Stocks | US, UK | Many |
| Cryptocurrencies | BTC, ETH | Many |
FXVC offers a diverse array of trading instruments, providing traders with ample opportunities to engage in various markets. With options spanning across forex, commodities, indices, stocks, and cryptocurrencies, traders can select instruments that best fit their strategies and risk appetites. The extensive range of available products ensures that both novice traders and seasoned professionals have the tools they need to diversify their portfolios and explore different trading strategies. This diversity not only caters to different trading styles but also enhances the flexibility of trading approaches in a dynamic market environment.
Account Types and Trading Conditions
What Account Types and Fees Does FXVC Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Bronze Account | Beginners | Minimum deposit of €250, access to educational resources | Suitable for small-capital practice |
| Silver Account | Intermediate Traders | Minimum deposit of €10,000, enhanced educational support, and trading events | Requires higher trading volume qualifications |
| Gold Account | Experienced Traders | Minimum deposit of €25,000, additional educational content, priority trading opportunities | Requires significant capital investment |
| Platinum Account | Advanced Traders | Minimum deposit of €100,000, lower spreads, exclusive events | Suitable for high-net-worth individuals |
| VIP Account | Professional Traders | Minimum deposit of €250,000, personalized services, unlimited educational resources | Requires extensive financial documentation |
Account Opening Process
Opening an account with FXVC is straightforward and user-friendly. The process involves the following steps: First, potential clients must provide personal information, including their full name, contact details, and email address. Next, applicants need to submit employment and financial information. Additionally, identity verification is required, which includes uploading a government-issued ID and proof of address. After the necessary documentation has been submitted, clients can begin trading once their account is activated. It’s worth noting that FXVC allows for account flexibility, enabling users to upgrade to a professional account later if their trading needs evolve.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | 0.8 | $0 | Tight spreads for major currency pairs |
| CFDs (Stocks) | 1.0 | $0 | Fixed spreads on popular stocks |
| CFDs (Indices) | 1.5 | $0 | Consistent spreads for major indices |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
FXVC aims for transparency with its fee structure. The broker does not charge deposit or withdrawal fees, making it easier for clients to manage their funds. However, there may be currency conversion fees if the base currency of the account differs from the withdrawal method. Inactivity fees are not applicable, allowing traders to maintain their accounts without added costs. Additionally, overnight interest (swap rates) may apply based on the positions held overnight, depending on the instruments traded.
Trading Platforms and Apps
What Trading Platforms and Apps Does FXVC Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| Web Version | Windows, macOS | Secure login (2FA), customizable charts, multiple order types, price alerts | Demo account available |
| Mobile App | iOS, Android | Secure login (biometrics), quick order execution, real-time alerts | Access to account management |
| Desktop Trading Platform | Windows, macOS | Advanced charting tools, secure login (encryption), market analysis tools | None specified |
The FXVC trading platforms offer various advantages tailored to different types of traders. The web version provides a robust environment for desktop users, with customizable charts and secure logins. The mobile app enhances convenience, allowing traders to manage their accounts and execute trades on the go, complete with real-time alerts. The desktop platform is designed for users who prefer advanced analytical tools and a more comprehensive user experience. Overall, FXVC supports secure trading practices and efficient order management across multiple devices, ensuring accessibility and flexibility for its clients.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min €250, Max €10,000/day | EUR, USD |
| Credit/Debit Card | Instant | No platform fee | Min €250, Max €10,000/day | EUR, USD |
| E-Wallets (e.g., Skrill, Neteller) | Instant | No platform fee, 1.5% charge on withdrawals | Min €250, Max €5,000/day | EUR, USD |
Minimum Deposit
FXVC requires a minimum deposit of €250 to open an account. This amount is consistent across all account types and payment methods, making it accessible for beginner traders.
How to Withdraw
To withdraw funds from your FXVC account, follow these steps:
1. Log in to your FXVC account.
2. Navigate to the ‘Withdrawal’ section in your account dashboard.
3. Select your preferred withdrawal method from the available options.
4. Enter the amount you wish to withdraw, ensuring it meets the minimum withdrawal limit.
5. Submit your withdrawal request.
6. Await confirmation and processing of your request, which may take different times based on the chosen method.
Customer Support
FXVC Customer Support Overview
Support Channels
FXVC offers several contact methods for customer support, ensuring that traders can receive help when needed. Clients can reach out via:
- Email: support@fxvc.eu
- Live Chat: Available on the official website for instant assistance.
- Telephone: Clients can contact support at +441613941367.
- Social Media: FXVC maintains a presence on various social media platforms to engage with customers.
Service Availability
Customer support is available from Monday to Friday, from 03:00 AM to 05:00 PM. FXVC provides multilingual support to cater to a diverse clientele, offering assistance in multiple languages to enhance the customer experience.
Additional Resources
To further assist traders, FXVC provides educational resources such as video tutorials, webinars, market analysis, and trading signals. These resources are designed to help clients improve their trading skills and make informed decisions.
Frequently Asked Questions
FXVC implements several protective measures for client funds, including segregating client deposits from the broker’s operational funds to prevent misuse. Additionally, the broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), providing an Investor Compensation Scheme that offers coverage of up to €20,000 in the event of firm insolvency.
FXVC offers several types of trading accounts: Bronze, Silver, Gold, Platinum, and VIP. The Bronze Account requires a minimum deposit of €250 and is suitable for beginners, while the Silver Account requires €10,000 and offers enhanced educational support. The Gold Account, aimed at experienced traders, requires a minimum deposit of €25,000, and the Platinum Account, for advanced traders, has a minimum of €100,000. The VIP Account, designed for professional traders, requires a deposit of €250,000.
FXVC provides a proprietary web-based trading platform that allows for customizable charts and various order types. The platform is designed to facilitate efficient trade execution and includes features such as price alerts. Additionally, FXVC offers educational resources to help traders improve their skills and make informed decisions, contributing to a reliable trading experience.
FXVC offers multiple customer support channels, including email at support@fxvc.eu, live chat on their official website, and telephone support at +441613941367. Customer support is available from Monday to Friday, from 03:00 AM to 05:00 PM, and the broker provides multilingual support to cater to a diverse clientele.
Related Forex Brokers
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.