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.

Overview of FXCC

FXCC (Forex Central Clearing Ltd) is a brokerage firm specializing in foreign exchange (forex) trading. Founded in 2010 and headquartered in Limassol, Cyprus, FXCC is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 121/10, ensuring compliance with financial and operational standards to safeguard client interests.

With a focus on providing a robust trading experience, FXCC offers a diverse range of tradable assets, including forex pairs, commodities, indices, and cryptocurrencies. Traders can access major, minor, and exotic currency pairs, enabling them to diversify their portfolios and explore various market opportunities.

FXCC caters to different trading preferences by offering multiple account types. These include standard accounts, ECN (Electronic Communication Network) accounts, and Islamic accounts suitable for traders adhering to Shariah principles. Each account type may have specific features and trading conditions tailored to meet the needs of different traders.

Is FXCC regulated？

FXCC (Forex Central Clearing Ltd) is a regulated brokerage firm. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 121/10 and Nevis with registration number C 55272. Being regulated by CySEC signifies that FXCC operates in compliance with the regulatory framework and standards set forth by the CySEC.

Regulation by CySEC is significant as it ensures that the company adheres to strict financial and operational guidelines designed to protect the interests of clients. It includes measures such as segregation of client funds, ensuring transparency in pricing and execution, and implementing risk management protocols.

The regulatory oversight provided by CySEC aims to maintain the integrity of the financial markets and foster a fair and secure trading environment for investors. It also offers a certain level of recourse for clients in case of disputes or issues that may arise during the course of their trading activities.

Pros and Cons

FXCC, a regulated broker authorized by the Cyprus Securities and Exchange Commission (CySEC), offers several advantages and disadvantages. On the positive side, FXCC provides a wide range of tradable assets, including forex, commodities, indices, and cryptocurrencies, allowing for diversification and trading opportunities. The broker also offers competitive leverage ratios, multiple trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and various channels of customer support, ensuring prompt assistance.

However, some drawbacks include limited account types, a non-transparent fee structure that may make it challenging for traders to understand costs, limited educational resources compared to other brokers, limited bonus offerings, and the possibility of withdrawal fees. Traders should carefully consider these factors and conduct their own research to determine if FXCC aligns with their specific needs and preferences.

Market Instruments

FXCC offers a range of market instruments for trading. Here are some common market instruments that the company typically provides:

Forex Currency Pairs: FXCC specializes in forex trading and offers a wide selection of currency pairs. This includes major currency pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs such as USD/ZAR or AUD/NZD. These currency pairs allow traders to participate in the global foreign exchange market and take advantage of currency fluctuations.

Commodities: FXCC may provide trading opportunities in various commodities such as gold, silver, crude oil, natural gas, and agricultural products. Trading commodities allows investors to speculate on the price movements of these tangible assets, which are influenced by factors such as supply and demand dynamics, geopolitical events, and economic indicators.

Indices: FXCC may offer trading on popular stock market indices like the S&P 500, Dow Jones Industrial Average, FTSE 100, or Nikkei 225. Trading indices allows investors to gain exposure to a basket of stocks representing a particular market or sector, providing opportunities to profit from the overall performance of the index.

Cryptocurrencies: As cryptocurrencies gain popularity, FXCC may provide trading opportunities in digital currencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others. Trading cryptocurrencies allows investors to speculate on their price movements without owning the underlying assets.

Main Account Types

FXCC typically offers multiple account types to cater to different trading preferences, including ECN XL Accounts in either Standard Account type Islamic Account type. While the specific account types may be subject to change or updates, the website primarily provides information on the ENC XL Account type. Here is a short description of ENC XL Accounts and each common account type that FXCC may provide:

ECN XL Accounts: ECN (Electronic Communication Network) XL accounts are known for providing direct market access. These accounts typically offer tighter spreads and faster order execution since they connect traders directly to liquidity providers, such as banks and financial institutions. ECN accounts may have variable spreads and charge a commission per trade.

Standard Accounts: Standard accounts are designed for traders who prefer a straightforward trading experience. These accounts typically have fixed or variable spreads and may require a minimum deposit to open. They offer access to the available tradable instruments and basic trading features.

Islamic Accounts: FXCC may offer Islamic accounts for traders who adhere to Shariah principles. Islamic accounts operate in compliance with Islamic finance principles, ensuring that no interest (swap) charges are applied on overnight positions. These accounts may have specific terms and conditions to meet Shariah requirements.

According to their website, the main type of account launched is the ECN XL type. The ECN XL type is described as including no minimum deposit with a 100% first deposit bonus, a Lot Size of 0.01 and a 1:500 max leverage. The ECN XL account also allows hedging as well as gives the option between a Standard Account and an Islamic Account.

In conclusion, FXCCs offered ECN XL account gives primary deposit incentive, the ability to hedge funds, and a choice between two account types.

Set-by-set on opening an account

1. Visit the FXCC official website: Use a web browser to navigate to the official website of FXCC. (https://www.fxcc.com/)

2. Locate the “Open Account” button: Look for a prominent button or link on the website's homepage that leads to the account registration process. It's often located in the top right corner or the main navigation menu.

3. Choose the account type: Select the desired account type based on your trading preferences and requirements. FXCC may offer different account options, such as standard accounts, ECN accounts, or Islamic accounts. Review the account types available and choose the one that suits you best.

Leverage

FXCC typically provides leverage ratios ranging from 1:1 up to 1:500. However, it's important to note that leverage requirements can be subject to change and may be adjusted based on regulatory guidelines and market conditions.

Spreads & Commissions (Trading Fees)

The specific trading fees charged by FXCC can vary depending on various factors such as the type of account, trading instruments, and market conditions. A spread commission, also known as a spread markup, is a fee charged by a broker for executing trades on behalf of traders. It is a common pricing model used in financial markets, particularly in forex trading. FXCC typically charges spreads, which is the difference between the bid and ask price of a trading instrument. Spreads can vary based on market liquidity, volatility, and the type of account. ECN accounts usually have tighter spreads compared to standard accounts but may charge a commission per trade. ECN accounts at FXCC may have a commission structure where a fixed fee is charged per lot traded. This commission is separate from the spreads and is applicable to trades executed in ECN account types. The specific spread and commission rates can vary based on the account type, trading instrument, and market conditions. Traders should carefully review the details provided by FXCC to understand the applicable spreads and commissions for their trading activities. It's important to consider the spread and commission model, along with other factors such as execution speed and overall trading conditions, when assessing the cost of trading with FXCC.

Bonuses

Typically, FXCC offers bonuses which may include welcome bonuses for new clients, deposit bonuses that provide additional funds based on the amount deposited, and loyalty or referral bonuses for existing clients who refer new traders or maintain a long-term relationship with the broker. These bonuses can provide traders with additional trading capital or rewards, potentially enhancing their trading experience.

It's important for traders to thoroughly review the terms and conditions associated with any bonuses offered by FXCC, as there are usually requirements that need to be fulfilled before the bonus can be withdrawn. Such requirements may include minimum trading volumes, specific timeframes, or other criteria set by the broker.

Trading Platform

FXCC typically offers popular trading platforms to its clients. While the specific platforms provided may vary or evolve over time, here are some common trading platforms that FXCC may offer:

MetaTrader 4 (MT4): MT4 is a widely used and highly regarded trading platform in the industry. It offers a user-friendly interface, advanced charting tools, a wide range of technical indicators, and automated trading capabilities through Expert Advisors (EAs). MT4 is known for its stability, customization options, and extensive community support.

Multi Account Manager (MAM): MAM is a money manager that can execute trades on the master account, and those trades are automatically replicated in the connected client accounts. This allows for efficient management and execution of trades across multiple accounts without the need to individually place trades for each client.

Deposit & Withdrawal

FXCC's minimum deposit requirement typically starts from $100 or its equivalent in other currencies. However, it's important to note that the minimum deposit amount can vary based on the chosen account type and the payment method used. Different account types may have different minimum deposit requirements, and certain payment methods may have their own minimum deposit limits imposed by the respective payment processors.

FXCC may charge withdrawal fees, but the exact fees and conditions can vary depending on several factors, including the withdrawal method, the account type, and the amount being withdrawn. It's advisable to review the information provided on the official FXCC website or contact their customer support directly for the most accurate and up-to-date details regarding withdrawal fees.

Customer Support

FXCC offers customer support to assist their clients with inquiries, technical issues, and other concerns. The company provides various channels through which customers can reach their customer support team. Here are some common customer support options provided by FXCC:

Phone Support: FXCC may offer phone support, allowing customers to directly speak with a representative. The contact numbers for phone support are typically provided on their website or in the client portal. Customers can call the provided phone numbers during the specified working hours to seek assistance.

Email Support: Customers can contact FXCC's customer support team via email. This method allows customers to describe their queries or issues in detail and receive a response from the support team. The email address for support is typically available on the FXCC website.

Live Chat: FXCC may offer a live chat feature on their website. This enables customers to engage in real-time text-based conversations with a support representative. Live chat is often preferred for its convenience and quick response times.

Online Contact Form: Some brokers, including FXCC, may provide an online contact form on their website. Customers can fill out the form with their details and submit their queries or concerns. The support team will then respond via email or the preferred communication method.

Educational Resources

FXCC may offer a range of educational resources to assist traders in enhancing their knowledge and skills. Here are some potential education resources that FXCC may provide:

Video Tutorials: FXCC may offer video tutorials covering various trading topics, including platform tutorials, trading strategies, technical analysis, and risk management. These videos can provide visual and step-by-step guidance for traders.

Webinars: FXCC may conduct webinars on a regular basis, featuring market experts and experienced traders. Webinars can cover a wide range of topics, including market analysis, trading techniques, and risk management. Participating in webinars allows traders to gain insights and interact with industry professionals.

Trading Tools: FXCC may provide traders with access to trading tools, such as economic calendars, market analysis tools, and indicators. These tools can help traders make informed trading decisions and analyze market trends.

eBooks: FXCC may offer educational eBooks covering various aspects of trading, including trading psychology, technical analysis, fundamental analysis, and risk management. eBooks provide in-depth information and can be a valuable resource for traders of different experience levels.

Glossaries: FXCC may provide a glossary of trading terms and definitions. This can be helpful for new traders or those who want to clarify specific trading terminology.

Trading Academies: FXCC may have a dedicated trading academy or educational section on their website. These academies often provide structured learning materials, courses, quizzes, and interactive learning resources to help traders develop their skills.

Market Insights: FXCC may offer regular market insights, including market analysis, daily/weekly market summaries, and economic news updates. These insights can provide traders with a better understanding of market trends and potential trading opportunities.

Conclusion

FXCC is a regulated forex broker headquartered in Cyprus. They offer a wide range of financial services, including forex, commodities, indices, and cryptocurrencies. Traders can access these markets through popular platforms like MT4 and MT5. With multiple account types and competitive leverage ratios, FXCC caters to different trading preferences. They provide customer support via phone, email, live chat, and online forms. FXCC also offers educational resources such as tutorials, webinars, and market insights.

FAQs

Q: Is FXCC a regulated broker？

A: Yes, FXCC is a regulated broker authorized and supervised by the Cyprus Securities and Exchange Commission (CySEC).

Q: What is the minimum deposit requirement at FXCC？

A: The minimum deposit requirement at FXCC typically starts from $100 or its equivalent in other currencies, although it may vary based on the chosen account type.

Q: What trading platforms does FXCC offer？

A: FXCC offers popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), providing traders with a reliable and feature-rich trading environment.

Q: Can I trade multiple asset classes with FXCC？

A: Yes, FXCC offers a range of tradable assets including forex, commodities, indices, and cryptocurrencies, allowing traders to diversify their portfolios.

Q: How can I contact FXCC's customer support？

A: You can reach FXCC's customer support through various channels, including phone support, email support, live chat on their website, or by filling out an online contact form.

General Information

Hantec Markets, one of the subsidiaries of the Hantac group, was established in 2008 in Australia as a new brand. Its business scope focuses on CFDs trading on forex, commodities, indices and bullion.

Demo account is available for practicing and trades can be executed on the world renowned MetaTrader4 and 5 platforms.

One exciting news is that the broker is decently regulated by ASIC (Australia Securities & Investment Commission) and FCA (Financial Conduct Authority), proving a certain level of liability and legality. What's more, the broker implements fund segregation and negative balance to protect customer funds.

However, the company charges several fees such as commissions, overnight fees, conversion fees, etc., adding trading costs.

Pros and Cons

Is Hantec Markets Legit?

Yes, Hantec Markets is a legitimate and regulated forex broker that operates under the oversight of reputable financial regulatory bodies. It is officially regulated by ASIC (Australia Securities & Investment Commission) and FCA (Financial Conduct Authority), with licenses numbering at 326907 and 502635 respectively.

Though its CGSE and VFSC licenses are suspected to be fake clones, but after investigation, the regulated entities are subsidiaries of the Hantec Group who has 19 offices around the globe, which means Hantec Markets does not necessarily duplicate these licenses.

Nonetheless, during the research, we found that the company holds a suspected clone license with number “関東財務局長（金商）第102号” from FSA (Financial Services Agency) as well. But the company name is “Gaitame Finest Company Limited”, not relating to Hantect Group at all. You should be vigilant about this alarming red flag since the company might deceiving clients in another company's name in some business areas.

Regulated Country	Regulator	Regulatory Status	Regulated Entity	License Type	License No.
	ASIC	Regulated	Hantec Markets (Australia) Pty Limited	Market Making (MM)	326907
	FCA	Regulated	Hantec Markets Limited	Market Making (MM)	502635
	CGSE	Suspicious Clone	亨達金銀投資有限公司	Type AA License	163
	VFSC	Suspicious Clone	Hantec Markets (V) Company Limited	Retail Forex License	40318
	FSA	Suspicious Clone	Gaitame Finest Company Limited	Retail Forex License	関東財務局長（金商）第102号

Market Instruments

Currency pairs, indices, commodities, metals, energies, stocks... Hantec Markets gives its clients access to a massive trading market. So, both beginners and sophisticated traders could find what they want to trade on Hantec Markets.

Account Type

Demo account: Hantec Markets offers a demo account for you to test a little on the financial market without the risk of losing money.

Real account: there are 2 types of real accounts in total: Cent account and Standard account.

The Cent account is said to target beginners who want to trade with less risks. The initial deposit requirement is affordable at $10, with spread starting from 1.2 pips. However, additional functions such as copy trading and demo account are not available with this account. You cannot practice before you start real trading or imitate trading strategies from successful traders.

While Standard account, with access to a full suite of Hantec features, also requires the same initial deposit of $10. Spread is tighter from 0.1 pips and copy trading/demo account is available.

In addition, there is a Swap Free Accounts that allows trading the following products without swap charges: EURUSD, GBPUSD, USDJPY, USDCHF, EURCAD, GBPCAD, EURGBP, CHFJPY, EURCHF, EURJPY, NZDUSD, AUDUSD, AUDNZD, USDCAD, GBPJPY, CADJPY, CADCHF, GBPCHF, XAGUSD, XAUUSD. However, if you hold a position for longer than one week in this account, a holding fee of 10 USD (or equivalent) per lot on FX and 30 USD (or equivalent) per lot on XAUUSD and XAGUSD per day will be charged.

Leverage

Hantec Markets offers a maximum leverage of up to 1:1000, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.

Spreads and Commissions

Hantec Markets offers Forex trading with spreads starting from specified values for various currency pairs. There are no commissions charged for Forex trades. The spread type is floating, and the minimum order size is 0.01 lot. The trading conditions also include a stop-out level set at 40% of the used margin. Overall, Hantec Markets provides competitive spreads and transparent commission-free trading for Forex.

Trade major pairs like EUR/USD, GBP/USD, and USD/JPY:

EUR/USD spread: 0.00014898 pips

GBP/USD spread: 0.000213589 pips

USD/JPY spread: 0.022286942 pips

Hantec Markets offers precious metals trading with competitive spreads and floating spread types. Traders can trade gold (XAU) with a minimum margin requirement of 5% and silver (XAG) with a minimum margin requirement of 10%. The minimum order size for gold is 0.1 lot (10 ounces) and for silver is 0.1 lot (500 ounces). There are no commissions charged for trading these metals, and the trading hours are available according to the server time.

Hantec Markets offers CFD trading on a variety of symbols, including stocks. The spreads for stock CFDs start from specified values for each symbol. Additionally, there are no specific details provided regarding commissions for stock CFD trading.

Hantec Markets offers indices trading on various major indices in Europe, Asia, Australia, and the US. The spreads for indices trading start from specified values for each symbol. Additionally, there are no specific details provided regarding commissions for indices trading.

In terms of Commodity Trading conditions at Hantec Markets, both US Oil and UK Oil have a spread of 0.05. There are no specific details provided regarding commissions for commodity trading.

Hantec Markets offers cryptocurrency trading with competitive spreads on a range of popular cryptocurrencies.

Non-Trading Fees

Currency Conversion Fee:

A conversion fee may be applicable to trades based on the currency settings of your trading account, funding currency, and the settlement currency of the market being traded.

The conversion fee is set at 0.6% and is added to the settlement exchange rate, which is determined by the market rate at the time of settlement. To account for the conversion fee, the underlying exchange rate is multiplied by 1.006 during the conversion process.

For instance, if the GBP/USD exchange rate is 1.1, the applicable FX conversion rate would be 1.1 x 1.006 = 1.1066.

By default, CFD accounts are set to 'instant' conversion. This means that any realized profit, loss, funding, dividend adjustments, or commission will be automatically converted to your account's base currency.

Let's consider an example:

Suppose you have purchased £20 per point worth of FTSE (UK100), and the base currency of your trading account is USD. Since you are trading in GBP, which is different from your account's base currency, the related transactions need to be converted to USD.

Assuming the exchange rate is 0.7576 ($1 equals £0.7576), after incorporating the conversion fee of 0.6%, the conversion rate becomes 0.7576 x 1.006 = 0.7621.

If FTSE increases by 30 points, your profit would amount to £600. This profit will be reflected as £600/0.7621 = $787.30 in your account. To calculate the admin fee charged, multiply your profit by 0.6%:

$787.30 profit x 0.6% = £4.72 currency conversion fee (already included – not charged separately)

Overnight Funding (Swap charges):

Also known as the 'Swap' charge, this is the cost of holding a position overnight. The amount will be dependent on the size of your trade, whether you have a long or short position and the instrument you are trading. Swap rates are determined by the underlying interest rates of the products or currency pairs you have open positions in.

Trading Platforms

Hantec Markets offers two trading platforms for trades execution: the popular MetaTrader4 and MetaTrader5.

Both platforms are widely recognized globally for its robust functions, built-in charting tools and techinical indicatiors and customized interface. Traders can configure settings of the platform according to their own preferences.

You can acess these two platforms via web on any devices, or download apps from Windows, iOS, Mac and Android devices.

Deposit and Withdrawal

Hantec Markets provides multiple payment methods:

Credit/Debit Card: Accepts USD, EUR, GBP, and NGN with a minimum deposit of $25 by Visa, Maestro, UK Debit Cards; no processing fees apply, and payment details must match the account name.

Skrill: Allows deposits in USD, EUR, GBP, and NGN with a minimum of $100; no processing fees, and account details must match.

NETELLER: Supports USD, EUR, GBP, CHF, NGN, and AUD with a minimum deposit of $100; no processing fees, and account details must match.

China UnionPay: Supports all Mainland Chinese cards; no minimum deposit specified and no processing fees.

Withdrawals are made via the original funding method, processed within 2-5 working days, and must match the account holders name.

Customer Support

Hantec Markets prides itself on providing excellent customer service to its clients. Each client is assigned a dedicated relationship manager who serves as their primary point of contact for any queries or issues. The relationship manager can be reached conveniently through the live chat tool available on the website.

The customer support team is also available 24/5 and can be contacted by leaving a message in the “contact us” section of the website.

Alternatively, you can reach out to them through the live chat feature, which is located at the lower right corner of the broker's website. Additionally, you have the option to contact customer support via telephone using the following numbers:

China – 4000280332

Nigeria – 7080601265

Jordan – 18442000155

Thailand – 1800019263

Taiwan – 886801491458

Pakistan – 080090044349

Main Office (UK) – +41225510215

Please note that international numbers may incur toll fees.

Office Locations:

Hantec Markets' main headquarters is situated at 5-6 Newbury St, Barbican, London EC1A 7HU in the United Kingdom. For the addresses of their Dubai, India, or other offices, please refer to the Hantec Markets website.

Education

Hantec Markets offers a wide range of educational resources on its website to support traders in their learning journey. These resources include market reports, analysis videos, YouTube webinars featuring Nigerian and African traders, as well as podcasts. Moreover, there is a dedicated learning hub that provides valuable content across four experience tiers, along with lessons on strategy creation and risk management.

Conclusion

Overall, Hantec Markets is a well-established forex broker with competitive spreads, transparent commission-free trading, and access to popular trading platforms like MT4 and MT5. Traders can benefit from various trading platforms and a diverse selection of tradable assets. However, some aspects, such as limited information about certain commissions and the availability of Hantec Social platform, could be improved. Traders should carefully assess their trading requirements and preferences, as well as consider the associated risks and costs, before choosing Garnet Trade as their trading platform.

FAQs

Is Hantec Markets a legitimate broker?

Yes, Hantec Markets is a legitimate and regulated forex broker. They are authorized and supervised by ASIC and FCA.

What account types do Hantec Markets offer?

Hantec Markets offers demo accounts, Cent accounts, and Standard accounts. The minimum deposit to open an account is just $10.

What trading platforms are available on Hantec Markets?

MT4 and MT5.

What is the maximum leverage offered by Hantec Markets?

Hantec Markets offers maximum leverage of 1:1000 for international clients using the Cent Account and 1:500 for international clients using the Standard Account. However, for European clients, leverage is limited by ESMA regulations to 1:30 for major FX pairs, 1:20 for minors and exotics, gold, and stock indices, and 1:10 for oil and silver.

What deposit and withdrawal methods are supported by Hantec Markets?

Hantec Markets supports Bank Wire, VISA, MasterCard, Neteller, Skrill, and UnionPay.