If you’re into trading, you’ve probably heard about FXVC. But what is it that you’ve heard? This broker is heavily bombarded with questions, such as “Is FXVC reliable?” or “Is FXVC a scam?”. The time is ripe to unveil the truth. We’ve carried out this research to unearth the facts that every trader should have at their fingertips.
The first findings we would like to discuss in this FXVC review are all about long-standing commitment. It’s been around since 2014, which translates into 6 years of brokerage experience. Its path was sometimes thorny, but the company forged it while working tirelessly to improve its services. It doubles down on learning from its mistakes and providing a hassle-free way for people to trade with the lowest fees and spreads.
Licensing and regulation of FXVC services in the EU
FXVC has its sights set on the EU as its target market. To integrate honesty in its operation, it holds a licence from CySEC, officially known as the Cyprus Securities and Exchange Commission. As an established financial regulator, CySEC is responsible for the strict supervision of companies like FXVC. It keeps a close watch on whether the broker complies with trader protection standards and guidelines. If it fails to do so, the regulatory agency can impose severe penalties or other restrictions.
Additionally, CySEC encourages whistleblowing if you have witnessed any wrongdoing by firms like FXVC. That is why the broker always reaffirms the importance of implementing honest business practices and fighting fraudulent activities.
When more and more unlicensed brokerages pop up, it’s paramount to stick to well-defined standards. FXVC is strictly regulated, which means all its operations are subject to supervision and stack up well against other firms in the industry.
FXVC online trading platform
The company’s trading platform sticks out from those non-intuitive web-based or desktop options out there. It’s easy to use with any browser and offers a straightforward way to start trading. The interface proves to be simple even for first-timers as FXVC strives to eliminate any bells and whistles that may make you confused.
Once you’re there, the FXVC online trading platform takes you to its several main sections. That’s where you can choose from Forex, Commodities, Crypto, Stocks, and Indices. All the assets come with the necessary Buy/Sell information, complete with bid prices and numerous insightful charts. By clicking on them, you can dig deeper into CFD data to stay well informed.
What makes this platform outstanding is that it doesn’t go overboard with insights. It offers a lot of valuable information and is still simple to use for those who have never traded before.
FXVC trading costs
When choosing a broker, you definitely want to consider its spreads and we will explain them in this FXVC review. With variable ones, traders typically incur fewer costs, but only if market conditions are steady. On the other hand, they are associated with higher risks and unpredictability should any fluctuations occur.
Given that, FXVC strives to guarantee some peace of mind for traders. That is why it sets fixed spreads over contracts and pairs. They remain consistent and do not go up when the market sways back and forth.
Commissions are also something that FXVC takes pride in. It outperforms many other brokerages by charging lower-than-average fees that depend on the asset being executed and the account type. What’s more, the company sets them at an unprecedented low level for loyal traders. Those who have been using the platform for a while may even become eligible for no-fee operations.
Account funding and withdrawals
Access to money is crucial, no matter what trading platform you use. Ideally, it should ensure the lightning-fast processing time and security, whether you’re depositing or withdrawing. So, is FXVC safe in terms of these particular factors?
The findings of our research show that it really is. The broker comes off with a reliable processing system that is replete with a variety of options to fund your account or withdraw your money. FXVC traders can choose from online services, bank transfers, and major credit cards for their needs.
But there are some minimum requirements. If you want to fund your account, you’ll need to deposit at least $500. For withdrawals, however, this amount is much lower – $20.
As required by the regulatory agency, FXVC services in the EU come without special deals and promotions. The broker, however, goes the extra mile to make up for this by incorporating additional features into user accounts. There are 5 different packages available on the platform, with Bronze being like a starting point. It’s the most affordable account type that allows for trading top assets, analysing market signals, and having educational material at hand.
More savvy users can opt for Silver, Gold, or Platinum packages. Each of these unlocks access to live trading events and extra insights. Plus, if you use any of the last two, you can benefit from notifications, no-fee withdrawals, personalised updates, and more.
The VIP package makes the list of FXVC trading account types complete. It’s brimming with all the features that other options – from Bronze to Platinum – have and take them up a notch. If you choose this account, you can expect the guidance from a dedicated manager, personal notifications, and unlimited access to trading signals and educational material. For the icing on the cake, VIP traders will pay less in commissions as FXVC always puts its valued traders first.
FXVC focuses on effective communication with traders. That is why the broker provides not only the well-arranged, easy-to-navigate FAQ section but also many options to reach its support team. If there’s anything you’d like more information about, or if you seek help, you won’t have trouble getting it. Simply use a contact form on the website or open a live chat. If this is not enough, you can also email or call FXVC’s representatives.
The bottom line
No broker is perfect. But what distinguishes below-average companies from industry leaders is how diligently they work to improve. According to our research, FXVC scam-related suspicions have turned out to be unfounded as this broker is determined to keep enhancing its services and relationships with traders.