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Like most brokers, FX Central Clearing takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commisions and spreads displayed below are based on the minimum spreads listed on FX Central Clearing’s website. The colour bars show how competitive FX Central Clearing's spreads are in comparison to other popular brokers featured on BrokerNotes.
|FX Central Clearing|
|EUR/USD (Average: 0.7 pips)||Not offered||0.7 pips||0.1 pips|
|GBP/USD (Average: 1.1 pips)||Not offered||1.7 pips||0.1 pips|
|USD/JPY (Average: 1.1 pips)||Not offered||0.6 pips||0.1 pips|
|AUD/USD (Average: 0.8 pips)||Not offered||0.6 pips||0.2 pips|
|USD/CHF (Average: 2.3 pips)||Not offered||2.3 pips||0.2 pips|
|USD/CAD (Average: 2.9 pips)||Not offered||0.5 pips||0.3 pips|
|NZD/USD (Average: 3.6 pips)||Not offered||2.8 pips||0.3 pips|
|EUR/GBP (Average: 2.4 pips)||Not offered||0.5 pips||0.1 pips|
Spreads are dynamic and are for informational purposes only.
As you can see, FX Central Clearing’s minimum spread for trading EUR/USD is pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with FX Central Clearing vs. similar brokers.See all Spreads
If you were to buy one standard lot of EUR/USD (100k units) with FX Central Clearing at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $10.7. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .
|FX Central Clearing||XTB||AvaTrade|
|Spread from:||$ 4.00||$ 2.00||$ 7.00|
|Total cost of a 100k trade:||$ 4.00||$ 2.00||$ 7.00|
|$2 less||$3 more|
|Visit FXCC||Visit XTB||Visit AvaTrade|
All fees/prices are for informational purposes and are subject to change.
FX Central Clearing offers over 32 different instruments to trade, including over 28 currency pairs. We’ve summarised all of the different types of instruments offered by FX Central Clearing below, along with the instruments offered by XTB and AvaTrade for comparison.
|FX / Currencies||FXCC||XTB||AvaTrade|
|# of forex pairs offered||28||48||59|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||FX Central Clearing||XTB||AvaTrade|
|# of commodities offered||0||21||16|
|Index & Stock CFDs||FX Central Clearing||XTB||AvaTrade|
|# of stocks offered||0||1606||99|
|See FXCC's Instruments||See XTB's Instruments||See AvaTrade's Instruments|
FX Central Clearing offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. FX Central Clearing also offer their custom FXCC MAM platform.
FX Central Clearing also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.See FXCC's platforms
FX Central Clearing allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. FX Central Clearing allows you to execute a maximum trade of 50 Lot. As FX Central Clearing offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.
As a market maker, FX Central Clearing may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
FX Central Clearing also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by FX Central Clearing here.
Finally, we’ve listed some of the popular funding methods that FX Central Clearing offers its traders below.
FX Central Clearing support a limited number including English.
FX Central Clearing has a BrokerNotes double AA support rating because FX Central Clearing offer live chat, phone, email support and less than three languages.
As FX Central Clearing is regulated by Financial Conduct Authority, CySEC, MiFID, , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore FX Central Clearing’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with FX Central Clearing you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.fxcc.com/ on 01/04/2020.