FXC Markets is an unregulated broker that offers high leverage. The trading instruments offered by them are indeed huge, but the trading conditions are vague for the most part. In other words, they have ridiculously high control over the client’s money and that is a big red flag.
Many people have complained about them and Italian regulators have issued warnings too. The way they operate is questionable and the hidden contingencies are simply way too many. Clearly, they are not the kind of broker you want to employ for any reason.
Even the owner’s information is not completely verifiable and the lack of transparency speaks volumes about them. To learn more about this shady entity and the ways they use to entice the investors, stay with us till the end.
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Regulation and Safety
Regulation is an important metric to look at when hunting for a new broker. Offshore brokers might offer enticing things, but at the end of the day the only thing that matters is the security of the funds. FXC Markets is allegedly owned by a UK based firm CRLINK Limited.
Though it is a UK based firm, guess what? They are not listed under the data base of FCA. Simply put, they are not regulated and the chances of getting money back from them are very slim. Moreover, we do not know the way this firm handles client’s money either.
Information regarding segregated accounts are not provided and as expected there are no details about the insurance as well. Due to their shady nature and lack of proper certificates, investing with them is worse than gambling. After all, you cannot trust firms like this with your money for any reason, right?
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Trading Platform and Charting
This broker offers MT4 support which is the retail’s favorite interface. Custom indicators, EA’s and auto-trading are all supported. When it comes to tweaking the settings, this one is hands down one of the best software out there.
For some people, MT4 might feel a bit outdated, but the user experience will make up for it. As far as charting goes, the kind of customizability available is unparalleled. With just a few clicks, you can set up a multi-chart layout and a lot of information can be extracted from a single glance.
All in all, the trading platform is more than adequate, but sadly the same cannot be said about the brokers and the liquidity providers.
FXC Markets Trading Conditions
FXC Markets Trading conditions are vague. There are no clear guidelines and we do not know whether they support all types of trading. Spreads on average are around 3 pips.
Scalpers will find it difficult to make consistent profits with such a huge spread. Of course, one can upgrade the account type, but the upfront capital required is big and it may not be worth it for many people. Leverage offered by them is 1:400. Beginners should never utilize the high leverage offered by this broker as it carries tremendous risk.
Forex pairs present are plenty and an average trader won’t find any issues with the available number of instruments. However, do keep an eye on the charges as they can burn a hole in your pocket if things go sideways. Lack of clarity and the broken narratives are certainly nothing short of dealbreakers.
Deposits and Withdrawals
Minimum capital required to get started with this broker is around $100. Depending upon the account type you choose, the capital requirement also goes up. Surprisingly, they support a lot of popular e-wallets such as Skrill, Neteller, etc,.
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Also, one can fund the account with debit or credit cards. Information regarding processing time is not available and we don’t have a clue about withdrawal fees or dormant account charges.
FXC Markets User Reviews
FXC Markets has earned a bad reputation over the years. People are generally frustrated with them and a lot of people have expressed their disappointment on many forums. Looking at the consensus, it becomes clear that you should be overly cautious while dealing with them.
More importantly, you should never accept any offer or bonus from them without going through the terms and conditions thoroughly. Keep in mind that social proof is always the best way to gauge the broker.
Though it is possible to create fake reviews, the truth will prevail and it is just a matter of time before the real facts float to the top of the search results.
Is FXC Markets a Scam?
FXC Markets appears to be a sketchy brokerage that is causing harm to a lot of users. Traders find it hard to get their funds back and some have completely given up. The regulators appear to be aware of the situation and are doing their best to warn the public about the real nature of this firm.
As the facts are clear, we strongly suggest you to stay away from entities like this one. In case you have already lost money to them, then use the resources provided below to get in touch with us.
Our staff will come up with a plan to help you get started with the recovery process. We will guide you through every legality and formality present. In short, we won’t rest until you get your hard earned money back.
The number of fraudulent brokers and offshore investment scams are rising significantly. Unfortunately, these kinds of traps cannot be eradicated completely. So, the best way to tackle the problem is by enlightening the crowd.
Once enough people are aware of the situation, sketchy brokers like this one will die and the entire space will be clutter free.
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