Mirror Trader Advantages and Disadvantages
Founded in 2010, FXCC is one of the leading STP/ECN brokers, specialising in Forex and CFDs, delivering institutional level of service and cost-effective trading opportunities to retail clients who wish to trade across a wide range of products. Regulated by CySEC, FXCC provides clients with access to a Forex model STP/ECN. All clients receive the same trading conditions, and all trades are executed immediately, with no delays or re-quotes. The broker is not a market maker, which differentiates it from Dealing Desk brokers. Client trades are executed with counter-parties, meaning FXCC is firmly on the client’s side.
This broker has a lot to offer, including optimal trading conditions, educational tools, and the use of the MetaTrader 4 platform. FXCC provides extremely competitive spreads, no commission, transparent execution, and also allows any type of trade strategy.
FXCC has the only one trading account type: “ECN XL Account” offers variable spreads from 0.0 pips and no trading commission, with maximum leverage 1:500 depending on regulation. There is a swap-free account option for Islamic traders. Overall, FXCC is an excellent broker. Every broker has its pros and cons, the pros are weighted heavily in this trading hub’s favor.
Top FXCC Features
Extremely tight Spreads – most of the time spreads in EURUSD and USDJPY are 0.0 pip, No Trading Commission Fees. One of the most important things when it comes to trading is the cost of trades. At FXCC, there are no commission fees for the ECN XL Account. Spreads are also tight, starting at 0.0 pips. The ECN XL Account is also called the “ZERO” account because, in addition to zero commission fees and spreads starting at 0.0 pips, the account also has zero deposit fees.
All Trading Strategies Allowed. FXCC is open to any trading strategy. Hyperactive, news trading, scalping, and other strategies are permitted with this broker, even though others might not allow them. This broker is ideal for scalpers and day traders due to it`s trading conditions.
Partnership Program. The FXCC partnership program is also top-notch. With this program, there are high-end payout commissions applied to extraordinary trading conditions, a tailor-made partner portal, wide range of marketing materials, advanced tracking, and global payment options. FXCC takes a personal approach to its partners, and its regional partners get assistance with marketing plans.
Transparency. To ensure the execution satisfies declared trading conditions FXCC delivers, in real time, executable spreads for popular instruments.
Swap-Free (Islamic) Accounts. FXCC’s swap-free accounts are another highlight with this broker. Traders holding Islamic accounts will pay no commission or administrative fees, and there are, of course, no swap fees charged. Islamic accounts are provided by request, and FXCC has the right to refuse to provide an Islamic account if it sees fit.
Range of Products
FXCC offers Forex, crypto, indices, metals, and energies. There are over seventy Forex pairs offered start at 0 pips with a maximum leverage 1:500 depending on regulation. Indices include the US Wall Street 30, US 500, US Tech 100, and other indices from Germany, Spain, France, Switzerland, Hong Kong, Japan, and Australia.
Those looking to trade metals can choose from spot gold, spot silver, and spot palladium, all versus the US dollar or, in the case of spot gold, the euro. Crypto traders can trade Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, ZCash, Dash, and Ripple, and energies traders can trade spot US crude oil and spot UK brent oil.
At FXCC traders can make use of the MetaTrader 4 platform. MT4, which has helpful tools like flexible trading systems, wide technical analyses, and algorithmic and mobile trading, is offered for PC, tablet, and smartphone users. Among Forex tools traders can use Forex calculators, live quotes, market hours, current trading positions, interest rates, and other. These tools provide insight into trading Forex, keeping traders up to date with the latest trends.
There are also several offers on hand for Forex traders. In addition to the Forex ECN XL trading account, FXCC also offers a VPS and depending on regulation – first deposit bonus. Clients can trade using a Virtual Private Server, which can give them three main advantages, including accessibility, security, and speed.
FXCC Reliability & Security
The broker works to be “trustworthy, transparent, and fair.” The trader appears to be reliable, and, judging from the handful of awards it has won at the UK Forex Awards (including “Best Forex Trading Account”), traders like it.
The broker has been around since 2010, it has over a decade of industry experience. FXCC’s business model is based on STP (Straight Through Processing), where orders are sent to financial institutions directly. This eliminates the potential for conflicts of interest or price mark-ups, making this broker pretty reliable when it comes to trade execution.