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MTrading , FXCL Broker Comparison

Do you want to know which is the better broker between MTrading and FXCL ?

In the table below, you can compare the features of MTrading , FXCL side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
MTrading
2.03
Suspicious Clone
Under guarantee
--
5-10 years
NFA
--
C
A
524.6
47
47
281
1953
1922
1953
C

EURUSD: 0.7

XAUUSD: 3.4

27
-1
27
C
25.96 USD/Lot
29.58 USD/Lot
B

Long: -8.44

Short: -0.88

Long: -12.17

Short: -4.44

A
0.7
177.7
M.Premium,M.Pro
Currencies - 38;Spot Metal CFDs - 4;Spot Energy CFDs - 3;Cash Index CFDs - 10;Stock CFDs - 67
100 USD
Forex 1:1000;Indices 1:500
From 1
0.00
--
0.01 (step 0.01)
--
FXCL
2.24
No Regulation
Under guarantee
--
5-10 years
VFSC
BTC,Online bank (Paytrust),PerfectMoney,Local Deposit,Dragonpay,FasaPay
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
ECN Pro account,Volume Cash account,Live Contest account,Interbank Cent account,Interbank Standard account,Start account,Standard account,Cent account
--
--
Forex, metals: up to 1:300 Indices: up to 1:100 Crypto: up to 1:10
from 0.1
80.00
Floating
0.01
--

MTrading 、 FXCL BrokersRelevant information

MTrading 、 FXCL BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of mtrading, fxcl lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

mtrading
Broker Name MTrading
Registered in Saint Kitts and Nevis
Regulated by No effective regulation at this time
Year(s) of establishment 5-10 years
Trading instruments Forex pairs, commodities, stocks, cryptocurrencies, indices
Minimum Initial Deposit $10
Maximum Leverage 1:1000
Minimum spread 0.0 pips onwards
Trading platform MT4 and its own mobile application
Deposit and withdrawal method electronic payment systems, bank cards, and wire transfer options
Customer Service Email, phone number, address, live chat
Fraud Complaints Exposure Yes
Negative balance protection Yes

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of MTrading

Pros:

  • Wide range of trading instruments, including currencies, stocks, cryptocurrencies, indices, commodities and other highly liquid financial assets.

  • Low account opening requirements, with the ability to start trading with as little as $10 on the M.Cent account.

  • Flexible and convenient deposit and withdrawal options, including a variety of electronic payment systems, bank cards and wire transfer options.

  • Copy trading features allow novice traders to learn from experienced traders and potentially increase profits.

  • Educational resources such as articles, news and technical analysis are available to help traders stay informed and make more informed decisions.

Cons:

  • Customer support may not be able to provide quick responses due to the high volume of requests.

  • Limited options for contacting customer support, with only a few social media accounts and an online chat button available.

  • Limited educational resources compared to some other brokers in the market.

  • Limited trading platforms available, with only MT4 and a mobile application offered.

  • The high maximum leverage of up to 1:1000 can increase the risk of losses for traders who are not experienced with high leverage trading.

What type of broker is MTrading?

Advantages Disadvantages
MTrading offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, MTrading has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

MTrading is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, MTrading acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that MTrading has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with MTrading or any other MM broker.

General information

MTrading is a global forex and CFD broker that was established in 2013. It is not regulated and offers trading services to both retail and institutional clients. MTrading provides its clients with access to over 100 trading instruments, including forex, commodities, and indices, with flexible leverage options of up to 1:1000. The company offers three types of accounts to cater to different trading needs and experience levels. In addition to its trading services, MTrading also provides educational resources and copy trading capabilities to its clients.

In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

General information

Is MTrading safe?

MTrading's claimed NFA regulation is questionable, as its purported license number cannot be verified on the NFA's official website. This regulatory discrepancy warrants caution from prospective clients and thorough due diligence to mitigate potential risks.

Is MTrading safe?

Market instruments

Advantages Disadvantages
Popular trading instruments are available, including currencies, stocks, cryptocurrencies, indices, commodities, and other highly liquid financial assets The lack of regulation makes it difficult to assess the safety of trading with MTrading
The limited information available about the trading instruments and their underlying assets makes it challenging for traders to conduct thorough analysis and risk management
The absence of regulatory oversight may lead to potential conflicts of interest and unethical business practices on the part of the company
The high level of risk associated with some of the trading instruments, such as cryptocurrencies, may not be suitable for all traders and can result in significant financial losses

MTrading offers various trading instruments for traders to choose from. With access to currencies, stocks, cryptocurrencies, indices, commodities, and other highly liquid financial assets, traders have the opportunity to diversify their portfolios and take advantage of market trends across multiple markets. However, the lack of regulation makes it difficult to assess the safety of trading with MTrading. Additionally, the limited information available about the trading instruments and their underlying assets may make it challenging for traders to conduct thorough analysis and risk management. The absence of regulatory oversight may also lead to potential conflicts of interest and unethical business practices on the part of the company. Finally, traders should be aware of the high level of risk associated with some of the trading instruments, such as cryptocurrencies, which may not be suitable for all traders and can result in significant financial losses.

spreads and commissions

Spreads, Commissions and Other Costs

Advantages Disadvantages
Competitive spreads on all account types Commission charged on the M.Pro account
No commission charges on M.Cent and M.Premium accounts
Transparent trading specifications available for all accounts
Low minimum deposit requirements on all account types

MTrading offers competitive spreads on all account types, ranging from 0 pips on the M.Pro account to 1 pip on the M.Cent and M.Premium accounts. The M.Cent and M.Premium accounts do not have any commission charges, while the M.Pro account charges a commission of 4USD per standard lot traded. The trading specifications are transparent and available for all accounts, allowing traders to make informed decisions based on the trading conditions. Another advantage is the low minimum deposit requirements on all account types, which makes trading accessible for a wider range of traders. However, the disadvantage of the commission charge on the M.Pro account may be a consideration for some traders.

Trading Accounts Available in MTrading

Advantages Disadvantages
M.Cent account allows for micro lot trading, making it easy for beginners to start trading with just $10. The low starting capital of M.Cent account means that there is a limit to how much profit can be made.
M.Premium account offers over 100 trading instruments and requires a starting capital of just $100. The limited account types offered by MTrading may not be suitable for all traders.
M.Pro account provides access to zero spread trading with a commission of $4USD and requires a starting capital of $500. The zero spread feature of M.Pro account comes with a commission which can increase trading costs.

MTrading offers three different account types to cater to the needs of different types of traders. The M.Cent account is ideal for beginners who are just starting with trading and want to practice with micro lot trading, requiring a low minimum deposit of $10. The M.Premium account offers a wider range of trading instruments and is suitable for traders with some experience who want to trade with larger positions, asking a minimum deposit of $100. Finally, the M.Pro account is designed for more experienced traders who want to take advantage of zero spread trading with a commission of $4USD. This account requires a high minimum deposit of $500. Overall,low starting capital requirement of M.Cent and M.Premium accounts makes it easy for traders to start trading with MTrading.

account types

Trading Platform(s) that MTrading Offers

Advantages Disadvantages
MT4 is a popular and widely used trading platform that is highly customizable and user-friendly The company does not offer any other trading platforms besides MT4
MTrading also offers its own mobile trading application for convenient trading on-the-go The mobile application may have limited features compared to the desktop version of MT4
MT4 supports a wide range of technical indicators, expert advisors, and algorithmic trading strategies Some traders may prefer a more advanced platform with additional features and tools
MT4 has a large and active online community, which provides access to a wealth of resources, such as forums, educational materials, and custom indicators The platform may be overwhelming for new traders who are not familiar with its features and functionality

MTrading offers its clients the popular MT4 platform, which is widely used and highly regarded by traders around the world. MT4 is a customizable and user-friendly platform that supports a wide range of technical indicators and trading strategies. The platform also has a large and active online community that provides access to a wealth of resources for traders. In addition, MTrading also offers its own mobile trading application, which provides convenience for traders who need to manage their trades on-the-go. However, some traders may prefer a more advanced platform with additional features and tools, and the mobile application may have limited features compared to the desktop version of MT4.

Here is a video about their own app on their official YouTube channel.

trading platform

Maximum Leverage of MTrading

Advantages Disadvantages
High Leverage allows for potential higher profits with smaller capital High leverage can magnify losses, leading to a larger risk of losing capital
Traders can open larger positions with smaller amounts of funds High leverage requires responsible risk management to avoid significant losses
Leverage can offer more trading opportunities and flexibility Overuse of leverage can lead to overtrading and emotional decision making

MTrading offers a maximum leverage of up to 1:1000, which is significantly higher than what is typically offered by regulated brokers. While high leverage can offer traders the potential for higher profits with smaller amounts of funds, it can also magnify losses and increase the risk of losing capital. Traders must exercise responsible risk management and avoid overuse of leverage to avoid significant losses. High leverage can offer more trading opportunities and flexibility, but it also requires careful monitoring of positions and market movements. It is important for traders to have a solid understanding of leverage and its potential risks before using it in their trading strategy.

Deposit and Withdrawal: Methods & Fees

Advantages Disadvantages
Flexible deposit and withdrawal options Limited options for certain regions
Variety of electronic payment systems, bank cards, and wire transfer options Some deposit and withdrawal methods may incur additional fees
Convenient and fast processing time for deposits and withdrawals Withdrawals may take longer for certain payment methods or in some cases due to regulatory requirements

MTrading offers a wide range of flexible and convenient ways to deposit and withdraw funds. Clients can choose from a variety of electronic payment systems, bank cards, and wire transfer options to make deposits or withdrawals. The processing time for deposits is fast, and the withdrawal processing time depends on the payment method used, with some methods taking longer than others. However, there may be additional fees for certain deposit and withdrawal methods, and some regions may have limited options available. Overall, MTrading provides its clients with a convenient and reliable service for managing their funds.

deposit and withdrawal

Educational Resources

Advantages Disadvantages
Comprehensive educational resources No live webinars or educational courses
Free access to articles, news, and technical analysis Limited resources for beginner traders
Educational resources updated regularly Limited video resources

MTrading provides a range of educational resources to help traders stay informed and improve their trading skills. The company offers free access to articles, news, and technical analysis, providing a comprehensive overview of the latest trends and market conditions. These resources are updated regularly to ensure traders are always up to date with the latest developments in the financial markets. However, MTrading doesn't offer live webinars or educational courses, which may limit the opportunities for beginner traders to learn and improve their skills. Additionally, the company has limited video resources, which may also be a disadvantage for some traders. Overall, the educational resources offered by MTrading are comprehensive and up to date, providing valuable insights and analysis for traders looking to stay informed and make informed trading decisions.

educational resources

Copy Trading

Advantages Disadvantages
Can be a time saver for beginner traders May result in blindly following a strategy without understanding its rationale
Allows access to experienced traders strategies and trades Copy trading fees can be expensive and add up over time
Reduces emotional trading by removing the need for constant decision making Copy trading performance is highly dependent on the performance of the trader being copied
Can be customized to fit individual risk preferences Not all traders are available for copy trading
No need for extensive market knowledge Copy trading may not be suitable for all trading styles and preferences

MTrading offers the copy trading feature, which allows traders to automatically replicate the trades of experienced traders on the platform. This feature can be beneficial for beginner traders who lack the necessary skills and knowledge to make profitable trades independently. Copy trading can be customized to fit individual risk preferences and can reduce emotional trading by removing the need for constant decision making. However, copy trading comes with its own set of disadvantages, such as blindly following a strategy without understanding its rationale, copy trading fees that can add up over time, and copy trading performance being highly dependent on the performance of the trader being copied. Therefore, traders need to carefully consider the pros and cons of copy trading before deciding to use this feature.

copytrading

Customer Service of MTrading

Advantages Disadvantages
Comprehensive FAQ section Limited customer service channels
Efficient social media presence Response time may be slow due to high volume of inquiries
Online chat available for assistance Limited availability for personalized support

There are only a few social media accounts, an online chat button, and an extensive FAQ section available for customer care on MTrading. While the FAQ section is detailed and informative, the lack of multiple contact options may not be enough for some clients who require immediate assistance. The support team's response time may be slow due to the large volume of requests.

customer support

Conclusion

MTrading appears to be a reputable online broker that offers a wide range of trading instruments, flexible account types, and platforms suitable for both novice and experienced traders. The company also provides various educational resources such as articles, news, and technical analysis to assist traders in making informed decisions. The leverage offered by MTrading is also high, up to 1:1000, allowing traders to increase their potential profits. However, the lack of transparency regarding its regulation status and the limited customer support channels may be a concern for some traders. Overall, MTrading seems to be a good option for traders seeking a diverse range of trading options and educational resources.

Frequently Asked Questions (FAQs)

Is MTrading legit?

No, MTrading is not regulated by any financial authority, unsafe to trade with.

What is the minimum deposit to open an account with MTrading?

The minimum deposit for M.Cent account is only $10, for M.Premium account is $100 and for M.Pro account is $500.

Is MTrading a good broker for beginners?

No, MTrading is not a good choice for beginners. While the broker offers beginner-friendly accounts, the lack of regulatory oversight remains a significant risk, particularly for beginners.

Does MTrading offer copy trading?

Yes, MTrading provides copy trading for its clients.

How can I deposit and withdraw funds with MTrading?

MTrading provides a variety of electronic payment systems, bank cards, and wire transfer options for deposit and withdrawal of funds. The company also allows internal transfers between accounts of its clients.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

fxcl
Aspect Information
Registered Country/Area St. Vincent and the Grenadines
Company Name FXCL Markets Ltd
Regulation Previous license revoked (Vanuatu Financial Services Commission)
Minimum Deposit Not specified (may vary by account type)
Maximum Leverage Up to 1:2000 (varies by account type)
Spreads Fixed and floating spreads (specifics vary by account type)
Trading Platforms MetaTrader 4 (MT4) on various devices
Tradable Assets Forex, Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities
Account Types Fixed Spread Account, Floating Spread Account, Special Accounts (specifics provided in previous responses)
Customer Support Email support, registered address (specifics provided in previous responses)
Payment Methods Various methods including Online Bank (Paytrust), Instant Deposits via 'H2P,' Crypto (AlphaPo), PerfectMoney, Local Deposit, FasaPay, Dragonpay (specifics provided in previous responses)
Educational Tools Forex glossary, Market analysis overview for beginners, Analysis theory (specifics provided in previous responses)

Overview

FXCL Markets Ltd operates from St. Vincent and the Grenadines and was previously regulated by the Vanuatu Financial Services Commission, although its license has been revoked. The company offers a range of trading account types with varying leverage options and spreads, and it utilizes the MetaTrader 4 (MT4) platform for trading across multiple devices. Tradable assets include Forex, Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities. While specific details like the founding year, minimum deposit requirements, and availability of demo or Islamic accounts are not provided, the broker offers email-based customer support and various payment methods. Educational resources include a Forex glossary and materials for both beginner and advanced traders.

basic-info

Regulation

Revoked.

FXCL MARKETS LTD previously held a Retail Forex License regulated by the Vanuatu Financial Services Commission (VFSC), permitting them to offer retail forex trading services. However, the license was revoked at an unspecified date. License revocation typically occurs due to non-compliance with regulatory requirements or financial misconduct. When a license is revoked, the entity is no longer authorized to provide regulated services, and they must cease their operations in that specific area. For detailed information about the revocation and its implications, further inquiry with the VFSC or additional sources is advisable.

regulation

Pros and Cons

Pros Cons
Offers a variety of trading instruments, including Forex, Precious Metals, and Commodities. Previous regulatory license was revoked, raising concerns about regulatory oversight.
Provides multiple account types with varying leverage, spreads, and trading conditions, catering to diverse trader preferences. Limited information available about the broker's history and track record.
Offers the popular MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and robust features. Limited information on the broker's educational resources and market analysis tools.
Supports a range of payment methods for both depositing and withdrawing funds, making it convenient for traders from different regions. Some account types have relatively high margin call and stop-out levels.
Customer support is accessible through email, providing traders with various options for assistance. Lack of information regarding trading fees, such as overnight swap rates.
Provides educational resources, including a Forex glossary and market analysis for beginners, to support traders at different skill levels. Limited transparency about trading spreads and commissions.

FXCL Markets offers a range of advantages, such as diverse trading instruments, multiple account types, and the popular MT4 platform. They also provide various payment methods and accessible customer support. However, concerns arise due to the revocation of their previous regulatory license and limited information on their history and educational resources. Traders should exercise caution and conduct thorough research when considering this broker.

Market Instruments

Based on the information provided, the broker offers a variety of trading instruments that encompass several categories, including Foreign Exchange (Forex), Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities. Here's a description of each category of market instruments offered by the broker:

  1. Foreign Exchange (Forex): Forex trading involves the exchange of one currency for another, and it is one of the most popular forms of trading. In this category, the broker likely provides a wide range of currency pairs for trading, allowing clients to speculate on the price movements of different currencies, such as EUR/USD, GBP/JPY, and more.

  2. Precious Metals: Precious metals trading typically includes instruments like gold, silver, platinum, and palladium. Traders can buy or sell these metals to profit from changes in their market prices. Precious metals are often considered safe-haven assets and are used for diversification and hedging purposes.

  3. Commodities: Commodities trading involves various physical goods like oil, natural gas, agricultural products, and more. These commodities are traded in futures and spot markets, and traders can speculate on price fluctuations. Commodity trading can be attractive for those looking to diversify their portfolios.

  4. Fund Management: Fund management implies that the broker may offer services related to managing investment funds. This could include portfolio management, asset allocation, and investment advisory services to help clients grow their investments.

  5. Clearing: Clearing services are often associated with the settlement and clearing of financial transactions, ensuring the smooth and secure transfer of assets between buyers and sellers. Brokers may offer clearing services to facilitate trading activities.

  6. Primary Brokering: Primary brokering typically refers to the intermediary role in trading securities. This may involve connecting buyers and sellers in various markets, such as stock exchanges or fixed-income markets, to execute trades.

  7. Other Legal Activities: This category is quite broad and could encompass a range of financial and legal services. It may include activities related to regulatory compliance, legal advisory, or other financial services permitted by the regulatory authorities.

Market Instrument Category Examples of Instruments
Foreign Exchange (Forex) Currency pairs (e.g., EUR/USD, GBP/JPY)
Precious Metals Gold, silver, platinum, palladium
Commodities Oil, natural gas, agricultural products
Fund Management Portfolio management, asset allocation
Clearing Settlement and clearing services
Primary Brokering Intermediary services for securities
Other Legal Activities Regulatory compliance, legal advisory

Please note that the specific instruments offered by the broker within each category may vary, and clients should refer to the broker's offerings and terms and conditions for precise details on available trading options.

market-instruments

Account Types

FXCL offers three tiered trading account types, each catering to the diverse needs and preferences of traders. These account types are designed to provide flexibility in terms of leverage, spreads, and trading conditions. Let's explore each account type in detail.

  1. Fixed Spread Account

    1. Account Currency: This account is available in US cent, EU cent, MYR cent, and THB cent for Cent accounts. For Standard accounts, it supports USD, EUR, MYR, THB, and NGN.

    2. Leverage: Cent accounts offer leverage up to 1:1000, while Standard accounts offer leverage up to 1:500.

    3. Spread: Both Cent and Standard accounts have fixed spreads, starting from 1 pip. The full spread list is available for reference.

    4. Margin Call/Stop Out Level: Both account types share a margin call level of 30% and a stop-out level of 10%.

    5. Execution: Instant execution is provided for both account types.

    6. Position Size: Cent accounts support positions ranging from 0.01 to 200.00 lots, while Standard accounts allow positions from 0.01 to 2.00 standard lots.

    7. Max. Number of Positions Online: Cent accounts allow up to 150 positions, while Standard accounts permit up to 100.

    8. Commission: There is no commission for trading in either account type.

    9. Quotes: Both account types offer basic quotes with 4 digits after the comma.

    10. Swap Interest: Swap-free options are available for traders who require them.

    11. Hedging Policy: Hedging is permitted except between swap and swap-free accounts.

    12. Locked-Up Margin for Hedged Positions: There is no locked-up margin for hedged positions in either account type.

    13. Strategy Policy: Generally, there are no limits on trading strategies for both account types.

  2. Floating Spread Account

    1. Account Currency: This account type supports USD, MYR, THB for Start accounts, US cent, MYR cent, THB cent for Interbank Cent accounts, USD, MYR, THB, NGN for Interbank Standard accounts, and USD for ECN Pro accounts.

    2. Leverage: The leverage varies, with Start accounts offering up to 1:2000, Interbank Cent and Interbank Standard accounts offering up to 1:500, and ECN Pro accounts offering up to 1:300 for Forex and metals, up to 1:100 for indices, and up to 1:10 for crypto.

    3. Spread: All these account types feature floating spreads, with different starting points. Detailed spread lists are available for reference.

    4. Margin Call/Stop Out Level: Margin call and stop-out levels vary between account types, offering flexibility to traders.

    5. Execution: Market execution is provided for all floating spread account types.

    6. Position Size: Position sizes vary across account types and asset classes, providing options for different trading strategies.

    7. Max. Number of Positions Online: The maximum number of online positions varies, allowing traders to choose their preferred trading volume.

    8. Commission: Commission structures differ for each account type and asset class.

    9. Quotes: All floating spread account types offer extended quotes with 5 digits after the comma.

    10. Swap Interest: Swap-free options are available, and swap interest varies based on the specific account type and asset class.

    11. Hedging Policy: Hedging is generally allowed, except between swap and swap-free accounts.

    12. Locked-Up Margin for Hedged Positions: There is no locked-up margin for hedged positions in any of these account types.

    13. Strategy Policy: The broker typically allows various trading strategies, including scalping and algorithmic trading, particularly in ECN Pro accounts.

  3. Special Accounts

    1. Account Currency: Both account types are denominated in USD.

    2. Leverage: Leverage of up to 1:1000 is available for both Live Contest and Volume Cash accounts.

    3. Spread: These accounts offer floating spreads, and detailed spread lists are provided.

    4. Margin Call/Stop Out Level: Both account types share a margin call level of 70% and a stop-out level of 50%.

    5. Execution: Automatic Market Execution is applied to both account types.

    6. Position Size: Position size ranges are suitable for Forex and metals trading.

    7. Max. Number of Positions Online: Traders can maintain a maximum of 50 positions online in these accounts.

    8. Commission: There is a commission of $1.5 per lot for Forex and metals trading in both Live Contest and Volume Cash accounts.

    9. Quotes: Both account types offer extended quotes with 5 digits after the comma.

    10. Swap Interest: Swap-free options are available for traders who require them.

    11. Hedging Policy: Hedging is allowed in both account types, except between swap and swap-free accounts.

    12. Locked-Up Margin for Hedged Positions: There is no locked-up margin for hedged positions in these accounts.

    13. Strategy Policy: Generally, there are no limits on trading strategies for both Live Contest and Volume Cash accounts.

Account Type Account Currency Leverage Spread Type Margin Call/Stop Out Execution Max. Position Size Max. Positions Online Commission Quotes Swap Interest Hedging Policy Locked-Up Margin for Hedged Positions Strategy Policy
Fixed Spread Cent: US cent, EU cent, MYR cent, THB cent Standard: USD, EUR, MYR, THB, NGN Up to 1:1000 (Cent) Up to 1:500 (Standard) Fixed, starting from 1 pip 30%/10% Instant Cent: 0.01 - 200.00 lot Standard: 0.01 - 2.00 standard lot Cent: 150 Standard: 100 No Basic (4 digits) Swap-free available Hedging allowed except between swap and swap-free accounts 0% Generally, no limits
Floating Spread Start: USD, MYR, THB Interbank Cent: US cent, MYR cent, THB cent Interbank Standard: USD, MYR, THB, NGN ECN Pro: USD Start: Up to 1:2000 Interbank Cent/Standard: Up to 1:500 ECN Pro: Up to 1:300 (Forex, metals) Up to 1:100 (Indices) Up to 1:10 (Crypto) Floating Varies Market Varies based on account type and asset class Varies based on account type Varies Extended (5 digits) Swap-free available Hedging allowed except between swap and swap-free accounts 0% Generally, no limits
Special Accounts Live Contest: USD Volume Cash: USD Up to 1:1000 Floating 70%/50% Automatic Market Execution 0.01 - 3.00 standard lot 50 $1.5 per lot (Forex, metals) Extended (5 digits) Swap-free Hedging allowed except between swap and swap-free accounts 0% Generally, no limits
account-types

Leverage

A leverage ratio of 1:2000 means for every $1 you deposit, the broker provides you with up to $2000 in trading funds. It amplifies potential profits but also increases risk, so it's crucial to trade responsibly and be aware of market movements to avoid losses. Leverage availability varies among brokers and markets, and it's essential to understand your broker's specific terms and conditions.

leverage

Spreads & Commissions

  1. Fixed Spread Accounts:

  • Cent Account: Fixed spreads starting from 1 pip, no commission.

  • Standard Account: Fixed spreads starting from 1 pip, no commission.

  1. Floating Spread Accounts:

  • Start Account: Floating spreads, no commission.

  • Interbank Cent Account: Floating spreads starting from 1.1 pip, no commission.

  • Interbank Standard Account: Floating spreads starting from 1.1 pip, no commission.

  • ECN Pro Account: Floating spreads, commissions vary ($3 per lot for Forex and metals; 0.15% per lot for cryptocurrencies).

  1. Special Accounts:

  • Live Contest Account: Floating spreads, commission of $1.5 per lot for Forex and metals.

  • Volume Cash Account: Floating spreads, commission of $1.5 per lot for Forex and metals.

This summary provides a clear overview of the spreads and commissions associated with each account type, helping traders make informed choices based on their trading preferences.

Deposit & Withdrawal

Depositing Funds:

When you open your trading account, you can easily deposit funds directly from your Trader's Cabinet, where you'll find step-by-step instructions. The broker offers several payment methods for depositing funds:

  1. Online Bank (Paytrust): This local payment method allows deposits from the main banks of Indonesia, Malaysia, and Vietnam. It provides instant deposits.

  2. Instant Deposits via 'H2P': You can make instant deposits from the main local banks of Indonesia, Malaysia, and Vietnam using the 'H2P' payment system. FXCL covers the fees for deposits made through this method.

  3. Crypto (AlphaPo): This is an instant payment system with automatic conversion from BTC and USDT to USD and EUR. It offers an easy deposit procedure.

  4. PerfectMoney: You can fund your PerfectMoney account directly by wire transfer or via exchangers. It's an instant payment system with low fees.

  5. Local Deposit: This convenient, low-fee payment method allows you to work with your local currency through internal transfers to popular national banks. Processing of Local Deposits takes up to 1 business day.

  6. FasaPay: A known payment service that guarantees quick and safe transactions, available in USD and IDR for Indonesia and in USD for Malaysia. FXCL provides full fee coverage for FasaPay deposits.

  7. Dragonpay: Allows deposits in PHP via online banking and ATMs for clients from the Philippines.

Withdrawing Funds:

To withdraw your funds, you can log in to your Trader's Cabinet and make a withdrawal request, which will be processed within 1 business day. Please note that you need to verify your profile before withdrawing funds. The withdrawal methods available include:

  1. Online Bank (Paytrust): This method processes withdrawals to the main banks of Indonesia, Malaysia, and Vietnam.

  2. Local Payments via 'H2P': Withdrawals to the main local banks of Indonesia, Malaysia, and Vietnam can be made using the 'H2P' payment system.

  3. Crypto (AlphaPo): An instant payment system with automatic BTC to USD and EUR conversion.

  4. PerfectMoney: You can withdraw funds directly via wire transfer or exchangers if you funded your PerfectMoney account with a Credit Card or other e-currencies. It offers low fees.

  5. Local Deposit: Similar to the deposit process, this method allows low-fee withdrawals in your local currency through internal transfers to popular national banks.

  6. FasaPay: Known for quick and safe transactions, available in USD and IDR for Indonesia and in USD for Malaysia. Withdrawal fees for FasaPay are very low.

  7. Dragonpay: Enables withdrawals in PHP via online banking and ATMs for clients from the Philippines.

It's important to follow some basic rules when making requests:

  • Third-party transactions are not accepted.

  • Deposit methods on the same account cannot be mixed.

  • Withdrawal methods can be mixed, and the broker may cover payment fees as part of a promotional campaign.

  • The limits for fee coverage are $500 for deposits and $100 for withdrawals per trader per month.

  • The company retains the right to apply reverse compensation fees, and the fee may be deducted from available funds across the client's accounts.

In summary, this broker offers a variety of payment methods for both depositing and withdrawing funds, catering to traders from different regions and preferences. The process is user-friendly and ensures the security of transactions.

deposit-withdrawal

Trading Platforms

This broker provides the highly popular MetaTrader 4 (MT4) trading platform, trusted by millions of traders worldwide. MT4 is available for various operating systems, including Android, iOS, Windows, macOS, and via a web terminal or the AppGallery for Android devices.

To install MT4 on Windows, traders can download the fxcl4setup.exe file and initiate the installation process by clicking on it. Accepting the License Agreement starts the automatic installation, and users can also choose to save the installation file for later use. Importantly, this download and installation are entirely free.

For uninstalling MT4 on Windows, users can access the Control Panel, select “Add or Remove Programs” (or “Programs and Features” in Windows 7), locate “MetaTrader – FXClearing,” and confirm the uninstallation.

Additionally, useful documentation is available, including the “MT4 User Guide” for platform features and the “FXCL Markets End-User License Agreement (EULA)” for legal terms.

In summary, this broker offers the widely trusted MetaTrader 4 (MT4) platform, accessible across various devices and operating systems. MT4 is known for its user-friendly interface and robust trading capabilities, making it a preferred choice for traders of all levels.

trading-platform

Customer Support

Customer Support at this broker is easily accessible through various means, providing traders with multiple options to address their inquiries or concerns.

Contact Options:

  1. Email Support: Traders can reach out to the broker by sending an email. The required contact details include your name, email address, MT4 Account number, and the nature of your inquiry or message. This method allows for detailed communication and documentation of queries.

  2. Registered Address: The broker provides its registered address as Suite 305, Griffith Corporate Center, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. While this address is primarily for official purposes, it can serve as a reference point.

  3. Email Addresses: The broker offers specific email addresses for different purposes, such as general support inquiries via support@fxclearing.com and bonus-related requests via rebate@fxclearing.com. This segmentation allows for efficient handling of various types of requests.

Customer-Centric Approach:

The broker's customer support team aims to provide timely and helpful assistance to traders. Whether it's inquiries about trading, account management, technical issues, or bonus-related matters, traders can expect a dedicated response based on the nature of their query.

The provision of specific email addresses for different types of requests ensures that inquiries are directed to the appropriate department, streamlining the support process. This tailored approach allows for more efficient and effective customer service.

In summary, this broker offers a customer support system designed to meet the diverse needs of traders. With multiple contact options and specialized email addresses, traders can easily reach out for assistance and expect a customer-centric approach to addressing their queries and concerns.

customer-support

Educational Resources

FXCL Markets offers a robust array of educational resources to support traders at all levels. These resources include:

  1. Forex Glossary: FXCL Markets provides a comprehensive Forex glossary, offering traders valuable definitions and terminology essential for their trading journey.

  2. Market Analysis Overview for Beginners: Tailored for novice traders, this overview introduces the fundamental concepts of market analysis, encompassing both fundamental and technical aspects.

  3. Analysis Theory: FXCL Markets recognizes the importance of proper market analysis. Their educational materials delve into the intricacies of fundamental and technical analysis, empowering traders to make informed decisions.

In essence, FXCL Markets' educational resources cover the essentials, making it a valuable hub for traders seeking to enhance their trading knowledge and skills. Explore these resources further on the FXCL Markets Education page.

educational-resources

Summary

FXCL Markets is a Forex broker offering various trading instruments across categories like Foreign Exchange (Forex), Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and more. Traders can choose from three account types, each with distinct features to cater to their preferences. The broker provides the popular MetaTrader 4 (MT4) trading platform, accessible on multiple devices. Traders can deposit and withdraw funds through various methods, making transactions easy and secure. FXCL Markets places emphasis on customer support, offering multiple contact options and specialized email addresses for inquiries. Additionally, they provide a range of educational resources to support traders at all levels, including a Forex glossary and market analysis materials. It's important to note that their previous regulatory license has been revoked, and traders should exercise caution.

FAQs

Q1: What is FXCL Markets?

A1: FXCL Markets is a brokerage firm that offers online trading services in various financial markets, including Forex, Precious Metals, Commodities, and more.

Q2: Is FXCL Markets regulated?

A2: FXCL Markets previously held a retail forex license regulated by the Vanuatu Financial Services Commission (VFSC), but the license was revoked. Traders should conduct further research to understand the implications of this revocation.

Q3: What trading platforms does FXCL Markets offer?

A3: FXCL Markets provides the MetaTrader 4 (MT4) trading platform, available for different operating systems, including Android, iOS, Windows, macOS, and web-based.

Q4: What are the account types at FXCL Markets?

A4: FXCL Markets offers three types of accounts: Fixed Spread, Floating Spread, and Special Accounts, each designed to cater to specific trading preferences and conditions.

Q5: How can I contact FXCL Markets' customer support?

A5: You can contact FXCL Markets' customer support by sending an email to support@fxclearing.com for general inquiries or rebate@fxclearing.com for bonus-related requests. Additionally, you can find their registered address in St. Vincent and the Grenadines for reference.

Are the transaction costs and expenses of mtrading, fxcl lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive mtrading and fxcl are, we first considered common fees for standard accounts. On mtrading, the average spread for the EUR/USD currency pair is From 1 pips, while on fxcl the spread is from 0.1.

Which broker between mtrading, fxcl is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

mtrading is regulated by NFA. fxcl is regulated by VFSC.

Which broker between mtrading, fxcl provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

mtrading provides trading platform including M.Premium,M.Pro and trading variety including Currencies - 38;Spot Metal CFDs - 4;Spot Energy CFDs - 3;Cash Index CFDs - 10;Stock CFDs - 67. fxcl provides trading platform including ECN Pro account,Volume Cash account,Live Contest account,Interbank Cent account,Interbank Standard account,Start account,Standard account,Cent account and trading variety including --.

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