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World Forex , FXCL Broker Comparison

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

In the table below, you can compare the features of World Forex , 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  brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Official website
Basic Information
Established(years)
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed(ms)
The highest transaction speed(ms)
The highest speed of opening positions(ms)
The highest speed of closing position(ms)
Slowest transaction speed(ms)
The lowest speed of opening positions (ms)
The lowest speed of closing position(ms)
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost (USD/Lot)
Rollover Cost
Rollover cost rating
  • Average Rollover Cost (USD/Lot)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time(ms)
Account Information
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
1.99
No Regulation
No guarantee
--
--
5-10 years
--
Supported
Not supported
VISA,TINKOFF BANK,BTC,Google Pay,Promsvyazbank,Alfa-Click,Wire Transfer,Apple Pay,PerfectMoney,ADVCash,Dash,SBERBANK ONLINE,PAYEER,Russkiy standart
C
D
1354.3
172
172
1173
1672
1672
1641
D

EURUSD:0.8

EURUSD:-172

4
1
4
AAA

EURUSD:1

--

AA

EURUSD: -12.3 ~ 2.8

XAUUSD: -2.19 ~ -1.71

C
0.7
26.8
--
1 USD
--
from 1.8 pips for Digital contract 0-100 only
--
fixed
--
BTC,ETH
Pin on the left
2.24
No Regulation
No guarantee
--
5-10 years
VFSC
Supported
Not supported
BTC,Online bank (Paytrust),PerfectMoney,Local Deposit,Dragonpay,FasaPay
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--

--

--

--
--
--
--
--
--
--
--
Forex, metals: up to 1:300 Indices: up to 1:100 Crypto: up to 1:10
from 0.1
80.00
Floating
0.01
--

Score
Regulatory Status
No Regulation
No Regulation

FXCL BrokerRelevant information

FXCL BrokerRelevant 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 world-forex, 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

world-forex
World Forex Review Summary in 10 Points
Founded 2007
Registered Country/Region Saint Vincent and the Grenadines
Regulation Non-regulated
Market Instruments Forex, CFDs for American shares, Precious metal, Oil, Cryptocurrency
Demo Account Available
Leverage 1:33 - 1:1000
EUR/USD Spread Start from 0.0 pips
Trading Platforms MT4/5
Minimum Deposit USD 1
Customer Support Phone, Email, Address, Live chat, Social media, Contact us form

What is World Forex?

World Forex, a brokerage firm based in Saint Vincent and the Grenadines and operates all over the world including countries such as Thailand, British, Saint Lucia and Russia. It provides a variety of market instruments, including Forex, CFDs for American shares, Precious metal, Oil, Cryptocurrency, to traders globally. However, it's important to consider that World Forex is currently under no valid regulations from any recognized authorities.

World Forex's home page

In the following article, we will analyze the characteristics of this broker from multiple perspectives, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also make a brief summary so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros Cons
• Multiple account types • Unregulated
• MT4/5 trading platforms • Not accept clients from some countries
• Acceptable minimum deposit
• Floating spreads
• Abundant customer support channels
• Demo account available
• Flexible leverage ratios

World Forex spells strength with a variety of offerings that cater to traders of all levels. They extend a selection of multiple account types, suiting diverse trading styles and strategies. The popular MT4/5 trading platforms, with their wide range of tools and features, are available to users across different devices. The acceptable minimum deposit at just $1 and the provision of floating spreads make trading accessible and competitive. Further benefits include abundant customer support channels for comprehensive assistance, an option for a demo account for risk-free practice, and flexible leverage ratios ranging 1:33- 1:1000 catering to risk-tolerant and risk-averse traders alike.

However, potential traders need to be aware of a few aspects. The most significant concern is that World Forex is unregulated, which can raise doubt over its credibility and security measures. Moreover, it doesn't accept clients from certain jurisdictions due to regulatory considerations.

Is World Forex Safe or Scam?

When considering the safety of a brokerage like World Forex or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: The broker operates with an unregulated status, signifying potential risks as it lacks the assurance of full protection for traders trading on its platform.

no license
  • User feedback: You can gain valuable insights into the experiences of other clients by reviewing their opinions and feedback about the brokerage. It's advisable to look for these reviews on trustworthy websites and discussion platforms to ensure the credibility of the information.

  • Security measures: World Forex prioritizes security through anti-money laundering and privacy policies, ensuring compliance with financial regulations and protecting clients' personal data. These measures in some extent enhance the safety and confidentiality of the trading environment.

Ultimately, the decision of whether or not to trade with World Forex is a personal one. You should weigh the risks and benefits carefully before making a decision.

Market Instruments

World Forex offers a comprehensive range of market instruments, including:

Forex: The broker enables access to a wide variety of 52 currency pairs, from major to exotic, for forex trading.

CFDs for American Shares: Trade Contracts for Difference (CFDs) on U.S. stocks with this broker which allows you to speculate on price movements without owning the underlying assets.

Precious Metals: Investment options in gold and silver, commonly considered safe-haven assets is another choice.

Oil: Opportunities to trade in the oil market, including WTI and Brent Crude.

Cryptocurrency: Trading access to popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others.

This diverse array of instruments caters to the preferences and strategies of traders, offering exposure to various financial markets.

Account Types

World Forex presents a wide array of account types, each serving different trading needs. They offer a Demo Account for practice and skill development, alongside various other accounts named W-CENT-fix, W-CENT, W-PROFI-fix, W-PROFI, W-CRYPTO, and W-DIGITAL. These accounts vary in features and are tailored to suit different trading scenarios and preferences.

Uniquely, World Forex has kept the entry barrier minimalistic, with a petite minimum deposit requirement of only USD 1 across these accounts. This makes World Forex's offerings readily accessible to a broad range of individuals interested in exploring the trading universe.

Furthermore, Islamic or 'swap-free' Account is also available. Traders just need to choose a trading account like W-PROFI or W-CENT and simply tick the 'swap-free' option during the account opening process.

Account Types

Leverage

World Forex provides its clients with a dynamic trading leverage structure, which varies significantly from 1:33 to a whopping 1:1000. The concept of leverage in trading means that traders can essentially 'borrow' funds to place larger trades than their actual deposit. The dynamic range in leverage of this broker lets traders pick a comfortable risk level while allowing potentially higher returns.

However, it's also important to note that while higher leverage can lead to amplified profits if the market moves in favor, it equally amplifies the potential losses if the market takes a downturn. Hence, effective risk management is crucial while using leverage.

Spreads & Commissions

World Forexs wide array of accounts feature different types of spreads and commission structures.

Both the W-CENT-fix and W-PROFI-fix Accounts provide a fixed spread starting from 1.8 pips and impose no commission.

The W-CENT and W-PROFI Accounts present a floating spread starting from 0.6 pips, again with no commission charged.

Unique W-CRYPTO Account offers a floating spread beginning from 0 pips, but with a 0.5% commission involved.

Lastly, W-DIGITAL Account users experience a fixed spread starting from 1.8 pips specifically for 'Digital contract 0-100', alongside a hefty 40% commission for early closing, which applies exclusively to American digital contracts.

Trading Platforms

World Forex provides excellent versatility in terms of platform accessibility by offering MT4/5 renowned trading platforms, across a variety of devices and operating systems. Whether you're a Windows user, a macOS patron, an Android enthusiast, an iOS adherent, or even a Linux user, you can flawlessly operate and engage with your trading strategies. This broad compatibility ensures that trading activities remain uninterrupted and convenient, regardless of the operating system used by the trader. From desktop to handheld devices, World Forex makes seamless trading a reality, enabling traders to stay connected with markets anytime, anywhere, and through any device.

Trading Platforms

Trading Tools

World Forex provides traders with a set of powerful trading tools designed to enhance their trading experience.

First and foremost, their Economic Calendar is a key instrument that keeps traders informed about global economic events, allowing them to make well-informed trading decisions.

Economic Calendar

To facilitate uninterrupted and automated trading, they offer Virtual Private Server (VPS) services, ensuring consistency in trade execution without interruptions.

Virtual Private Server (VPS)

Next on the roaster is the MQL5 signal — a feature that allows traders to copy trades from successful signal providers, beneficial for those who may lack time to research and analyze the markets.

Last but not least, the Forex calculator enables traders to calculate various trading parameters with precision, such as margin requirements, profit, and conversion rates.

Forex calculator

Copy Trading

World Forex enhances the trading experience by offering a “Copy Trading” option, which is a phenomenal feature particularly for novice traders or those who wish to diversify their strategies. With this feature, users have the advantage of copying the trades of experienced, successful traders directly into their own account.

This can not only save substantial time required for market analysis, but also helps new traders learn by observing strategies used by experienced ones.

Copy Trading

Deposits & Withdrawals

World Forex provides diverse modes for transactions, ensuring convenient trading for clients.

The broker accepts Bank cards and Internet banking, adhering to users who prefer traditional methods of transactions. Moreover, modern Payment systems are also supported, including popular ones like Apple Pay and Google Pay. For large transactions, Bank transfer facilities are readily available. These avenues support different currencies, enhancing global accessibility.

Notably, each method has its specific minimum deposit request, processing time, and commission charges. Traders interested in exploring these specifics can visit the broker's official website at below link reach out to their broker directly for personalized assistance.

https://wforex.com/payment

Deposits & Withdrawals
Deposits & Withdrawals

Customer Service

World Forex optimizes client communication with multiple contact channels. Clients can get in touch with World Forex via Phone or Email for personalized assistance. The broker's physical Address for different branches is readily available for those looking for direct engagement. For details you can visit https://wforex.com/contacts.

contact details

They can also opt for real-time responses through the live chat feature. More so, World Forex extends its reach to various Social Media platforms such as Facebook, Twitter, Instagram and Trading View.

contact details

Lastly, the Contact Us form on their website offers an easy way to send in queries, suggestions, or feedback.

Contact Us form

Education

World Forex is commendable in its approach to educating its traders. Included in their educational resources are the 'Knowledge Base' and the 'Glossary'.

The Knowledge Base is an extensive collection of articles and information crucial to understanding various aspects of trading. It is a great starting point for novices, covering topics from fundamental concepts to complex trading strategies.

The Glossary, on the other hand, is a comprehensive list of trading terminologies, assisting traders in understanding complex terms used in the trading world.

Together, these resources equip traders with the essential tools for navigating the trading landscape effectively and confidently.

Conclusion

World Forex, a brokerage firm based in Saint Vincent and the Grenadines who also operate in British, Russia, Thailand and Saint Lucia, offers a range of market instruments including Forex, CFDs for American shares, Precious metal, Oil, Cryptocurrency.

However, potential investors should be wary of the fact that World Forex is currently unregulated. This represents a major red flag as regulated brokers conform to strict financial oversight, thereby protecting clients from potential misconduct.

As such, those considering World Forex as their broker should tread carefully, conduct thorough research and consider alternative, well-regulated brokers that prioritize transparency, security and client protection.

Frequently Asked Questions (FAQs)

Q 1: Is World Forex regulated?
A 1: No. It has been verified that this broker is currently under no valid regulation.
Q 2: Does World Forex offer demo account?
A 2: Yes.
Q 3: Is World Forex a good broker for beginners?
A 3: No. It is not a good choice for beginners because it is unregulated by any recognized financial authorities.
Q 4: Does World Forex offer the industry leading MT4 & MT5?
A 4: Yes, it offers MT4 /5 platform on windows, Ios, MacOS, Linux and Android devices.
Q 5: What‘s the minimum deposit does World Forex request?
A 5: World Forex request a minimum deposit of $1.
Q 6: At World Forex, are there any regional restrictions for traders?
A 6: Yes. World Forex’s products and services are not intended for the following countries and jurisdictions: America (USA), Canada, Northern Korea, Iran and for the jurisdictions included in the sanction lists of FATF and EU. This list can be amended at any moment of time.

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 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.

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 world-forex, 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 world-forex and fxcl are, we first considered common fees for standard accounts. On world-forex, the average spread for the EUR/USD currency pair is from 1.8 pips for Digital contract 0-100 only pips, while on fxcl the spread is from 0.1.

Which broker between world-forex, 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.

world-forex is regulated by --. fxcl is regulated by VFSC.

Which broker between world-forex, 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.

world-forex provides trading platform including W-DIGITAL,W-CRYPTO,W-PROFI,W-PROFI-fix,W-CENT,W-CENT-fix and trading variety including --. 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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