FXC Markets is an offshore broker that has earned a bad reputation. Even financial watchdogs are issuing warnings about them and are trying their best to raise awareness. This brokerage does offer a lot of instruments.
However, the kind of risk present while indulging with this kind of entity is huge and the conflict of interest present is indeed a deal breaker. From the owners of this platform to their liquidity providers, it is hard to find information about their activities.
Transparency is not present at any level and user reviews tell us almost everything we need to know about them. In short, we do not advise anyone to use this service regardless of what features they promise.
After all, there is a reason why even regulatory bodies are going against them, right? If you want to get a grasp on this broker, the following content is something you should glance over.
When it comes to online trading, you should always look for regulated platforms. In most cases, regulated firms will have a low conflict of interest with the clients and compared to other alternatives, they ensure the safety of your capital to the maximum extent.
FXC Markets is allegedly owned by a firm based in the UK and the name of the organization is CRLINK Limited. We checked the database of FCA to find more information about them, but guess what? This firm is not listed by them. On the flip side, a handful of regulatory bodies have issued warnings against them and that is a big red flag.
Weak regulation means the broker has more control over the client’s money and that kind of setup never ends well. As the risk is too easy to spot, walking away from them would be the best thing to do. Moving on to customer support, we cannot comment much about them as we have not tested it out rigorously. Nonetheless, we do not have many expectations from their staff.
Trading Instruments and Costs
FXC Markets is a forex broker. They offer almost all of the major pairs along with minor pairs. For any average trader, the number of choices available will be more than enough. However, the trading costs are on the higher side.
Note that we do not know whether they have banned day trading strategies. Spreads on average are around 3 pips which is huge, to say the least. Scalpers will find it hard to make money with them because huge spreads will deplete a large portion of their profits.
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There are various account types available, but to get all the features, traders do have to put up a lot of money upfront. All in all, the conditions are not too favorable for all kinds of traders. Plus, the minimum depot requirement of premium account types is way higher compared to the top brokerages in the forex sector.
FXC Markets Platform and Leverage
Meta Trader platform is supported by this brokerage. All the automated systems and custom indicators can be utilized by the traders. Charting tools are also plenty and the interface provides a lot of flexibility to the users.
Moreover, there are countless tutorials on how to enable certain features, and for the most part, things are simple. With the help of Expert Advisers, traders can also execute automated orders, but they might not perform well if there is a sudden surge in volatility.
Also, spreads get wide during news events and it can have a big impact on your equity growth so, keep an eye on the economic calendar. Leverage is capped at 1:400 which is way too high. Keep in mind that leverage is a double-edged sword and you should not use it without knowing the risks involved. At the end of the day, we could not find anything particularly unique about this forex broker.
FXC Markets Reviews
If you visit our site frequently, then you already know the kind of emphasis we give to social proof. We searched for user reviews to get a rough idea of the consensus. As we expected, they had negative ratings for the most part and the user feedback was also scary.
People are not happy with FXC Markets and one Google search will reveal everything the previous users had to face with them. Given the way they have tarnished the brand name, it is not a wise move to trust them.
After all, if they cared about their customers, wouldn’t they have the basic courtesy to respond to criticism and make appropriate changes? Looks like they are least bothered about the things their user base has to deal with.
Is FXC Markets a Scam?
FXC Markets looks like a very shady organization. They are unregulated and a lot of their marketing campaigns are carried out in a way that may not be entirely legal. Capital requirement is also high and trading costs are also significant.
The security of funds is not great and the worse part is, transparency is not present. With so many missing parts, it is a no-brainer decision to stay away from them. If you are facing a tough time and are unable to recover your money from this broker, then get in touch with us immediately.
Our team will guide you through all the intricacies and will help you get your money back as quickly as possible. Moreover, our services are free and we are just a click away at all times.
Verdict
A lot of unregulated brokers often turn out to be scams so, you need to be very careful. FXC Markets is without any doubt a sketchy company. As such, we strongly advise our viewers to think twice before indulging with them in any way or form.
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