One of the most significant drawbacks of FXCC brokerage is the limited selection of trading software offered. When a broker has been in business for more than 10 years, the greatest degree of dedication, honesty, and service is expected. FXCC has been in business for almost 13 years, but its services and operations have received little attention or development. Nobody wants to deal with a broker whose services are behind the times. We’ll go through every aspect of the broker and why you shouldn’t use it in our FXCC review.
FXCC Brokerage Provides an Outstanding Trading Platform
It is only compatible with MetaTrader4 (not with MetaTrader5 or MetaTrader6). There are many versions of this popular trading platform; MT4 may be used on a computer, a tablet, or a mobile device. FXCC MT4 accounts are available to Windows and iOS users, as well as Android and iPhone users. While MT4 remains the most popular trading platform, users of cTrader, Zorro, Sierra Chart, and even MT5 will be unable to trade with this brokerage. On the other hand, professional traders and account managers will like the fact that fxcc broker offers a number of trading platforms.
The bulk of trader evaluations stresses the importance of minimizing trading costs. This is critical for all traders, but it is particularly critical for day trading systems that are always attempting to increase their average transaction value, which is highly affected by the broker’s fees and spreads. Because the spreads on the FX account are fluctuating, exact numbers are impossible to come up with. The only way to learn about the spreads at FXCC is to read the reviews. Tight spreads are often cited as one of the most appreciated characteristics of a business.
It used to charge a withdrawal fee, but it recently changed its policy, and traders may now trade, deposit, and withdraw commission-free with this broker.
Day trading is a type of investment that can be done with the help of a computer, which allows traders to buy and sell financial instruments within a short period of time. Day trading for beginners is not easy as it may seem. It requires meticulous research and sound knowledge about the market. If you are just starting out in day trading, then you should first have an idea about some basic concepts such as margin, leverage, risk management, and so on.
Minimum Lot Size
FXCC’s minimum lot size varies per asset class. The majority of forex products may be traded using a 0.01 lot size, which provides an excellent opportunity for small account holders to control their risks effectively. Other assets, such as commodities, indices, and cryptocurrencies, also have different lot sizes.
If forced to pick between the brokerage’s benefits and drawbacks, the educational component of FXCC would almost certainly fall under the category of drawbacks. At first look, the main website seems to contain a large number of blog posts, analytics, and instructional resources. On the other hand, the blog posts are few, and the training is limited to explaining financial concepts and a few of the most popular methods.
This instruction’s usefulness is questioned owing to the absence of customized training and FXCC evaluations in daily analytics that cover just three major currency pairings. This is certainly an area in which the broker may expand.
Officially, FXCC support is available through phone, live chat, or e-mail, as is the case with every online brokerage. However, evaluating the quality of customer service is difficult without first-hand FXCC evaluations from actual consumers. There are divergent views on this issue. Several customers have said that the customer support is really professional. Others caution consumers that FXCC support answers may be delayed significantly.
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