FXVC Review [2020 Updated]
FXVC is a market leader in CFD trading. The brokerage also covers a wide selection of financial markets, including forex, indices, cryptocurrencies, stocks, and commodities. Established in 2014, the company treats each investor under its wing with the utmost respect.
This brokerage is owned and operated by Central Spot Trading Limited. This company has its headquarters in Lophitis Business Center, Cyprus. What does FXVC represent? Is FXVC a scam? Join me in this FXVC review.
Licensing and Regulation: 8.6
FXVC is a trading brand of Central Spot Trading Limited. Cyprus Securities Exchange Commission (CYSEC) is the body that regulates FXVC. Excellent regulation is an essential aspect of investment safety. Other bodies that regulate the FXVC broker include the UK’s Financial Conduct Authority and Australia’s Securities and Investment Commission.
Mobile Trading: 9.0
FXVC mobile app offers a terrific trading experience. The app is available for downloads on both Android and Apple devices. Not everyone appreciates trading on smartphones and tablets. For those who don’t, you will be happy to know FXVC’s website is optimized to function well on smartphones and tablets. Their mobile sites look and feel like the desktop version.
Brand and Functionality: 8.1
Since 2014, FXVC has been providing trade services to clients from different parts of the world. This statement says something about the broker: the company is reliable and competent. FXVC.eu is a Europe-compatible face of the broker. The broker lays a strong emphasis on customer satisfaction.
FXVC come with their proprietary trading platforms. This fact means that it lacks the popular MT4 trading platform. Their proprietary trading platforms are sufficient enough to meet the needs of traders with varying levels of experience. Their brand functionality is exceptional. The only demerit is their high trading fees.
It doesn’t take much to open an account with FXVC. The process only takes a few minutes. You will need to submit personal information like full name, contact details, and country of residence. Once you complete this phase of registration, you will have to fill in an investor questionnaire.
Account Types: 8.0
FXVC tries to accommodate the needs of every trader. One way of achieving this objective is by offering five different account types to investors. Below are the account types available to FXVC traders and their features:
Commissions and Spreads: 4.9
FXCV believes in trading with fixed spreads. They believe that this format is beneficial to the client because it is more predictable and less risky. FXCV.eu imposes brokerage fees through fixed spreads that are generally higher than industry standards. For example, upon reviewing the broker, we discovered that the EUR/USD currency pair had a fixed spread of 4 pips. This figure twice as high as the levels that the competition offers.
However, you can mitigate the impact of higher spreads by upgrading to Platinum and VIP accounts. These options offer reduced spreads.
Deposit and Withdrawal Options: 7.8
There are multiple ways of depositing and withdrawing funds from your FXVC accounts. The minimum deposit is €500. The minimum withdrawal amount is €20. There are no deposit and withdrawal fees. Deposits are almost instant, while withdrawals take seven to nine days to complete.
Below are some of the available methods of depositing and withdrawing funds:
- Bank Wire Transfer
- Electronic Funds Transfer
Bonuses and Promotions: 1.0
Unlike BinaryCent, FXVC does not offer its clients any form of bonus or promotion. This broker appears to be basic, and they do not run the extra mile to attract or reward clients. There is little incentive to sign up or pledge your loyalty to the brand.
Customer Support: 8.7
Customer Support at FXCV is excellent. The brokerage has a very responsive and informative customer support system. Customer care is available through telephone, email, and live chat from 9 am – 5 pm (UK time).
Alternatively, you can find solutions to your queries from their comprehensive educational and FAQ resources. Their educational material consists of video courses, glossaries, asset indices, and e-books.
FXVC is a reliable and competent CFDs broker that offers a wide array of tradable assets. This brokerage has been around since 2014 and has built a large customer base in Europe and the rest of the world. FXVC lays a strong emphasis on customer satisfaction by providing exceptional customer support.
FXVC’s trading platforms can meet the needs of any type of trader. The most disappointing aspect of FXVC is their high trading costs. Other than that, FXVC is a viable option, and it could be the right brokerage for you.