Fxcess Broker Detailed Review 2024

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Fxcess Broker Overview

Fxcess is a relatively new online trading platform offering a diverse range of financial instruments including forex, metals, futures, commodities, shares, and indices. Known for its user-friendly interface and robust trading tools, Fxcess is a reliable broker that caters to both beginner and experienced traders.

Fxcess provides access to a wide array of trading instruments, allowing traders to diversify their portfolios easily. The forex broker offers the widely-used MetaTrader 4 (MT4) trading platform, known for its reliability and advanced trading features.

Fxcess offers two types of trading accounts namely Classic and ECN, and a demo account. Accounts feature a maximum leverage of 1:1000 and a minimum deposit of $10.

Comprehensive educational materials and trading tutorials are available to help traders improve their skills and knowledge. Multilingual customer support is always ready to assist traders with any queries or issues, ensuring a smooth trading experience.

The platform is praised for its simplicity and ease of navigation, making it suitable for traders of all levels. Traders enjoyreliable and quick trade execution, minimising slippage and ensuring optimal trading conditions. Fxcess supports various payment methods for deposits and withdrawals, offering flexibility and convenience to its users. Now let's dive into the details of the Fxcess review. 

Fxcess Regulations and Security

As an online trading broker, Fxcess places the security of its clients at the forefront. Here are some key aspects related to regulation and security:

Fxcess prioritises transparency and accessibility. They have created comprehensive legal documents that govern the relationship between the broker and its clients. These documents include the Terms of Business, Privacy Policy, and the Affiliates Agreement. Traders are encouraged to read and understand these documents before opening an account.

Unfortunately, Fxcess is an unregulated broker. Unlike regulated brokers, unregulated ones lack the safety net provided by regulatory bodies. Trading with regulated brokers offers additional security and protection for traders.

However,Fxcess ensures the segregation of client funds. This means that client funds are kept separate from the broker’s operational funds. In the event of any financial difficulties faced by the broker, client funds remain protected.

Fxcess collaborates with world-class independent banking institutions to provide banking and treasury services for its clients. This partnership enhances the security and reliability of financial transactions.

The CFD broker maintains a global support team that clients can contact for any further information or assistance. Prioritising security, Fxcess aims to address clients’ concerns promptly and effectively.

Remember that while Fxcess strives to provide a secure trading environment, it’s essential to exercise caution and conduct thorough research before choosing any broker. Always trade responsibly and seek professional advice if needed. 

Fxcess Fees Details

Fxcess offers a straightforward fee structure for traders. Here are the key points related to fees:

The minimum deposit requirement for both Classic and ECN accounts is $10. However, keep in mind that the amount you deposit may impact your online trading experience.

Fxcess does not charge any fees for deposits. However, some payment providers might impose their own transaction fees. There are no fees for withdrawals processed via credit/debit cards and e-wallets. However, your respective banks or payment providers might impose additional fees.

While the Classic Account has no direct commissions, the ECN Account charges a commission of $4.5 per per lot round turn. This fee is slightly lower than what some competitors charge. Remember to choose the account type that aligns with your forex trading preferences and risk tolerance. Always stay informed and trade responsibly. 

Fxcess Spreads Fee Details

Classic Account Spreads: Fxcess offers competitive spreads for its Classic account users. The spreads vary depending on the currency pair being traded. Here are some key details of few major pairs:

EUR/USD: The spread starts from 1.7 pips.

GBP/USD: The spread begins at 1.7 pips.

USD/JPY: The spread starts from 1.7 pips.

USD/CHF: The spread begins at 1.8 pips.

These spreads are variable, meaning they can fluctuate based on financial market conditions. The Classic account is designed for traders who prefer fixed costs with no commissions on trades.

ECN Account Spreads: The ECN account at Fxcess offers tighter spreads making it ideal for active traders. This account type charges commissions on trades. Here are the typical spreads for some major currency pairs:

EUR/USD: The spread starts from 0.0 pips.

GBP/USD: The spread begins at 0.0 pips.

USD/JPY: The spread starts from 0.0 pips.

USD/CHF: The spread begins at 0.0 pips.

In addition to the tight spreads, traders pay a commission of $4.5 per lot per trade. The ECN account is suited for traders looking for the lowest possible spreads and who trade frequently.

When considering Fxcess, traders should evaluate their online forex trading habits to choose the account type that best suits their needs.

Fxcess Swap Fees Details

When it comes to trading, understanding the fees associated with your broker is crucial. Let’s delve into the swap fees offered by Fxcess, a popular online trading platform.

What Are Swap Fees?

Swap fees, also known as overnight financing fees or rollover fees, are charges applied to positions held overnight. These fees account for the interest rate differential between two currencies being traded, in the case of Foreign Currency Pairs.

Fxcess calculates swap fees using the following formula:

Long Position (Buy): Swap fee = (Trade size in lots) × (Long swap rate) × (Point value) * (Days Position Held Open)

Short Position (Sell): Swap fee = (Trade size in lots) × (Short swap rate) × (Point value) * (Days Position Held Open)

The swap rates are provided by Fxcess and can be found on their trading platform. These rates are updated regularly to reflect market conditions and interest rate changes.

Examples of Swap Fees

Below are indicative examples on how the Swap Rates look like, for Major Currency Pairs:

EUR/USD:

Long swap rate: -0.70 pips

Short swap rate: -0.30 pips

GBP/USD:

Long swap rate: -0.65 pips

Short swap rate: -0.25 pips

USD/JPY:

Long swap rate: -0.50 pips

Short swap rate: -0.20 pips

These rates indicate that holding a long position overnight in EUR/USD will incur a fee of 0.70 pips, while a short position will incur a fee of 0.30 pips.

Key Points

Swap fees are charged for positions held overnight. Rates vary based on the symbol examined and trade direction. Fxcess updates swap rates regularly to reflect market changes.

For the most accurate and up-to-date swap rates, traders should refer to the Fxcess trading platform. Understanding these fees is crucial for managing trading costs effectively, especially for traders who hold positions for multiple days.

Fxcess Broker Deposit and Withdrawal Options

In our Fxcess review, we'll now talk about the broker’s variety of deposit and withdrawal options that aim to facilitate your trading experience. 

Deposit Options: Fxcess offers several convenient methods for depositing funds into your trading account. Here are the main options:

- Bank Transfer: Traditional method with a processing time of 1-3 business days.

- Credit/Debit Cards: Instant processing for Visa and MasterCard.

There are no deposit fees charged by Fxcess. However, your payment provider might impose their own fees.

Withdrawal Options: Withdrawing funds from your Fxcess account is straightforward with several options available:

- Bank Transfer: Typically processed within 1-3 business days.

- Credit/Debit Cards: Usually processed within 24 hours.

Fxcess does not charge withdrawal fees. Yet, some banks or card services may have their own charges.

For more details on deposit and withdrawal options, visit Fxcess Forex broker. This variety and flexibility make managing your trading funds easier and more convenient.

Available Tradable Markets

Fxcess offers a diverse range of tradable markets for investors to explore, providing opportunities for both seasoned traders and newcomers alike. With a wide array of options, traders can diversify their portfolios and take advantage of various market conditions.

FOREX

With Fxcess, you can dive into the world's largest financial market. Trade popular forex pairs like USD/EUR and discover exotic pairs to maximise your trading potential. Trade withtight spreads and seize every opportunity in the dynamic foreign exchange market.

METALS

Diversification continues with precious metals trading, where Fxcess offers CFDs for gold and silver, allowing traders to take both long and short positions. This presents an opportunity to enjoy the stability and potential returns associated with trading metals.

INDICES

For those interested in indices, Fxcess offers a range of options from global markets, including the UK 100, Wall Street, and Germany 30. This allows traders to stay ahead of market trends and capitalise on global economic movements.

COMMODITIES

Traders can trade a variety of commodities with Fxcess and seize opportunities in markets such as Brent Crude, Coffee, and Sugar. With Fxcess, you have the flexibility to diversify your portfolio according to your trading preferences.

FUTURES

Fxcess allows you to access 50 futures markets, including US500, USOil, NATGas, and Coffee. Explore the potential of futures trading and develop sustainable trading strategies to achieve your financial goals.

SHARES

Expanding further, Fxcess offers share CFDs on leading companies such as Apple, Microsoft, Google, and Facebook, allowing traders to diversify their portfolios across various sectors and regions to effectively capitalise on market movements.

Fxcess Leverage Information

Leverage is a powerful tool that allows traders to magnify their exposure in the financial markets. It enables them to control larger positions with a smaller amount of capital. However, while leverage can enhance potential profits, it also comes with significant risks. Let’s dive into the details:

What Is Leverage?

Leverage is the ability to borrow funds from a broker to increase the size of a trade. It is expressed as a ratio, such as 1:100 or 1:500. For example, a leverage of 1:100 means that for every $1 of your own capital, you can control a position worth $100 in the market.

Leverage Key Features:

Increased Trading Power: With leverage, traders can access larger positions than their account balance would allow. This can lead to higher potential profits.

Diversification: Leverage allows traders to diversify their portfolio by participating in multiple markets simultaneously.

Lower Initial Investment: Traders can enter the market with a smaller initial investment, making it accessible to a wider range of participants.

Understanding the Risks:

Amplified Losses: While leverage magnifies gains, it also amplifies losses. A small adverse price movement can wipe out a significant portion of your account.

Margin Calls: If your account balance falls below the required margin level (the minimum amount needed to maintain your open positions), you’ll receive a margin call. Failure to meet the margin requirements can result in position liquidation.

Volatility Exposure: High leverage exposes traders to greater volatility in the market, increasing the risk of rapid and substantial losses during turbulent market conditions.

Overtrading: The availability of high leverage may tempt traders to overtrade, leading to impulsive decisions and increased risk of losses.

Fxcess Leverage Details

Classic Account: Fxcess offers leverage of up to 1:1000 for its Classic account. This means that traders can control positions up to 1000 times their account balance.

ECN Account: The ECN account provides leverage of up to 1:500. Traders can control positions up to 500 times their account balance.

Remember that while leverage can enhance profits, it also increases risk. It’s essential to use leverage wisely and consider your risk tolerance before trading with high leverage. 

Available Trading Platforms at Fxcess 

At Fxcess, they provide cutting-edge trading solutions tailored to meet the diverse needs of traders. Their suite of trading platforms offers unparalleled access, convenience, and functionality, ensuring that you can navigate the markets with confidence and precision. Let's dive into the details of trading platforms in this Fxcess review. 

MetaTrader 4

MT4 has established itself as the industry standard for trading Forex. It is a powerful platform that millions of traders choose to trade with. Here are the key features of MT4 when used with Fxcess:

Forex and CFD Trading: With Fxcess MT4, you can trade both forex pairs and spot CFDs (Contracts for Difference) with instant order placement and enhanced execution.

User-Friendly Interface: MT4 provides an intuitive interface suitable for both novice and professional traders. It offers advanced charting tools, technical analysis, and customisable indicators.

Expert Advisors (EAs): MT4 supports automated trading through EAs. Traders can create or use pre-built algorithms to execute trades automatically based on specific conditions.

Mobile and Web Versions: Access MT4 on your desktop, mobile devices, or through a web browser with Fxcess WebTrader. The mobile app allows you to manage your account on the go.

MetaTrader 4 on any device by Fxcess

Fxcess proudly presents MetaTrader 4 Advanced, Android and iOS enabling traders to engage in forex trading anytime, anywhere, directly from their devices. With the user-friendly mobile app, traders can harness the power of MT4 and capitalise on exceptional trading conditions while on the move.

Key Features Include:

Comprehensive Order Functionality: Access all order types and execution modes to execute trades with precision and flexibility.

Efficient Account Management: Seamlessly manage orders, positions, and equity online, ensuring optimal control over your trading activities.

Interactive Symbol Charts: Enjoy interactive symbol charts, empowering you to analyse market trends and make informed trading decisions with ease.

Extensive Technical Analysis Tools: Utilise 30 of the most popular technical indicators and 24 analytical objects to conduct thorough market analysis and identify lucrative trading opportunities.

Versatile Charting Options: Benefit from three types of charts – bars, Japanese candlesticks, and broken line – providing diverse perspectives for in-depth market analysis.

Fxcess PMAM: Elevating Your Money Management Experience

Fxcess PMAM, or Personal Multi Account Manager, is a powerful platform designed to streamline the management of multiple MetaTrader 4 (MT4) accounts simultaneously. By integrating seamlessly with the MT4 platform, PMAM simplifies the process of executing bulk trades across various accounts. With PMAM, traders can efficiently place orders through the MetaTrader 4 Master Account, ensuring simplicity, speed, and effectiveness in their trading activities.

Fxcess Mobile App: Trading at Your Fingertips

The Fxcess Mobile App provides convenient access to your trading account and Client Portal, empowering you to manage your account efficiently from anywhere. With full account management capabilities, you can log in easily and securely, verify and manage your profile, and create new accounts effortlessly. 

The app offers seamless deposit and withdrawal functionality, allowing you to manage your funds conveniently on the go. Compatible with both iOS and Android devices, Fxcess Mobile App ensures that you stay connected to your trading activities and financial transactions with ease and simplicity.

Available Trading Accounts

Fxcess offers two primary account types: the Classic account and the ECN account. Each account category embodies distinct features. Here’s a breakdown of each type:

Classic Account: The Classic Account offered by Fxcess is designed to cater to a wide range of traders. Here are the key features:

The spreads in the Classic Account are variable, starting from 1.7 pips. Traders benefit from zero commissions, making it an attractive choice for those who prefer straightforward pricing. The minimum deposit required to open a Classic Account is $10. Leverage is flexible, with options up to 1:1000. Traders can choose from base currencies such as EUR, GBP, JPY, USD, IDR and NGN.

Additionally, Fxcess provides bonuses for Classic Account holders, and the account comes with a swap-free option. Traders also have access to a dedicated account manager who is available 24/5 to assist with any queries or support needs.

ECN Account: The ECN Account is tailored for more experienced traders who seek competitive pricing and fast execution. Here are the details:

In the ECN Account, traders enjoy low to zero spreads, which can be especially advantageous for scalping and high-frequency trading strategies. However, there is a minor commission fee of $4.5 per lot round-turn. The minimum deposit requirement remains the same at $10. Leverage options go up to 1:500.

Unlike the Classic Account, the ECN Account does not offer bonuses or a swap-free option. However, traders still benefit from access to an account manager who is available 24/5. Remember that all trading involves risk, and it’s possible to lose all your capital.

How Open An Account with Fxcess 

Let me guide you through the process of opening an account with Fxcess. It’s a straightforward procedure, and you’ll be up and running in no time.

Visit the Fxcess Website: Navigate the Fxcess website by entering the URL in your web browser: www.fxcess.com.

Enter Details: Put your email address, country of residence, mobile number and a strong password.

Choose Your Account Type: Select your preferred account type. Fxcess offers two main types:

Classic Account: This account has variable spreads starting from 1.7 pips, zero commissions, and bonuses available.

ECN Account: The ECN account features low to zero spreads, a minor commission fee, and no bonuses.

Set Base Currency and Leverage: Choose your base currency (options include EUR, GBP, JPY, USD, and NGN). Set your desired leverage (up to 1:1000 for Classic Account and up to 1:500 for ECN Account).

Complete the Process: Follow the prompts to complete the account setup.

Verify Your Identity: As part of the account opening process, you may need to verify your identity and residency. This often involves submitting documents such as a government-issued ID (passport, driver's licence) and proof of address (utility bill, bank statement).

Fund Your Account: Once your account has been successfully opened and verified, you can proceed to fund your trading account. Fxcess offers various deposit methods, including bank transfers, credit/debit cards, and electronic payment systems.

Download Trading Platform: After funding your account, download the Fxcess trading platform compatible with your device (MetaTrader 4 for desktop, mobile, or web). Alternatively, you can access the web-based trading platform directly from your browser.

Start Trading: With your account funded and the trading platform installed, you're ready to dive into the world of trading.

Fxcess Promotional Offers 

Now in our Fxcess review, we will explore the exciting promotions offered by Fxcess. As a trader, you’ll appreciate these special bonuses and rewards:

Sharing Bonus (Unlimited): With the Sharing Bonus, you can share both your losses and profits with Fxcess. It’s an innovative way to enhance your trading experience. Keep in mind that this bonus cannot be withdrawn, but it adds an extra layer of flexibility to your trading strategy.

Credit Bonus (Up to $5,000): The Credit Bonus rewards you with a bonus on every deposit you make. For each deposit, you’ll receive a credit directly into your trading account. Remember that this bonus cannot be withdrawn, but it provides additional trading capital to boost your positions.

Power Bonus (Up to $4,000): The Power Bonus is designed to supercharge your trading. By opting for this bonus, you’ll receive an extra boost to your account balance. Like the other bonuses, it cannot be withdrawn, but it significantly enhances your trading potential.*

Fxcess aims to provide competitive pricing, fast market execution, and a powerful trading environment. Whether you’re a new trader or an experienced one, these promotions can add value to your trading journey.

*All bonuses cannot be withdrawn. Terms and conditions apply.

Fxcess Customer Support 

Fxcess is committed to offering high-quality multilingual support 24/5 to ensure an unmatched trading experience for its customers. Here are the ways you can get in touch with their support team:

Live Chat: If you have any questions related to trading or funding, you can directly chat with their dedicated manager through the live chat feature. Make sure to provide your account number and support PIN if you’re an existing client.

Comprehensive FAQs Section: Explore Fxcess comprehensive FAQs (Frequently Asked Questions) section, meticulously curated to address common queries and concerns. From account registration and funding to trading platforms and market analysis, the FAQs provide insightful answers to help you navigate the intricacies of trading with Fxcess.

Support Request Form: Fill out the contact form on their website, including your full name, email address, trading account number, telephone number, preferred language, and the category of your inquiry. You can also leave a message in the “Your message” section. Remember to agree to the terms and conditions before submitting your query. 

Fxcess Broker in a Nutshell 

Fxcess emerges as a promising online trading platform, distinguished by its diverse array of tradable instruments, encompassing forex, metals, futures, commodities, shares, and indices. Founded on the pillars of accessibility and functionality, Fxcess offers a user-friendly interface coupled with the MetaTrader 4 (MT4) platform, renowned for its reliability and advanced trading features.

With a commitment to cater to traders of all levels, Fxcess presents two distinct account types: Classic and ECN, each tailored to accommodate varying trading preferences. The Classic account appeals to traders seeking fixed costs and no commissions, with spreads starting from 1.7 pips, a flexible leverage of up to 1:1000, and a modest $10 minimum deposit requirement. On the other hand, the ECN account targets more experienced traders, boasting tighter spreads starting from 0.0 pips and a commission fee of $4.5 per lot round turn, alongside the same $10 minimum deposit and leverage of up to 1:500.

While Fxcess operates as an unregulated broker, it maintains a steadfast commitment to safeguard client funds. Through the segregation of client funds and strategic partnerships with reputable banking institutions, Fxcess endeavours to uphold the security and integrity of its clients' financial assets. Moreover, the platform distinguishes itself with its comprehensive educational materials and multilingual customer support, further enhancing the trading experience for its global clientele.

Despite its unregulated status, Fxcess endeavours to provide a secure trading environment, emphasising transparency and client-centricity in its operations. With competitive fees, a diverse range of tradable markets, and a suite of advanced trading platforms, Fxcess positions itself as a compelling option for traders seeking a reliable and comprehensive trading solution.

Frequently Ask Questions about Fxcess 

1. What is Fxcess Broker?

Fxcess Broker is an online brokerage firm offering trading services in forex, commodities, metals, futures, indices, and shares. They provide a user-friendly platform for traders of all levels.

2. How do I open an account with Fxcess?

Opening an account with Fxcess is easy. Simply visit the Fxcess website and click on the "Open Account" button. Follow the prompts to fill out the required information and submit the necessary documents for verification.

3. What are the deposit and withdrawal methods supported by Fxcess?

Fxcess supports various deposit and withdrawal methods including bank wire transfers, and credit/debit cards. The specific methods available may vary depending on your region.

4. Does Fxcess offer demo accounts?

Yes, Fxcess offers a demo account for traders to practise and familiarise themselves with the trading platforms and services without risking real money. Demo accounts come with virtual funds and mirror real market conditions.

5.What are the trading hours on Fxcess?

Fxcess operates 24 hours a day, five days a week, allowing traders to access the markets during major trading sessions across different time zones. Specific trading hours may vary for different instruments.

6. How can I contact Fxcess customer support?

Fxcess offers customer support services via live chat, and request form. Fxcess dedicated support team is available to assist you with any inquiries, technical issues, or any account-related questions you may have.

7. Does Fxcess Broker offer leverage?

Yes, Fxcess Broker offers leverage options to amplify trading positions, but it's important for traders to understand the risks associated with trading with leverage.

8. Can I trade on mobile with Fxcess Broker?

Yes, Fxcess Broker offers mobile trading capabilities through its mobile app, allowing traders to access their accounts and execute trades on the go.

9. What trading platforms does Fxcess Broker offer?

Fxcess Broker provides access to popular trading platforms like MetaTrader 4 (MT4) known for their user-friendly interface and advanced trading tools, PMAM, and Fxcess Mobile App. 

10. Can I become a partner of Fxcess?

Yes, you can. Fxcess offers an affiliate program where you can refer new clients to the platform. If you have a network of traders or investors, you can become an Introducing Broker (IB) for Fxcess.The broker also offers a fully customisable White Label Solution.