Fxcess review and ratings

Established 2020
Location Bermuda
Regulation None
Offices Hamilton
Broker type STP | ECN
Leverage up to 1:1000
Deposit from 10 USD
Spreads mid  mid
Platforms Web MetaTrader 4
Instruments Currencies Indices Metals Energies Stocks
Funding methods Wire Transfer Credit Cards

Company information

Fxcess is a legally registered forex broker located in Bermuda, but not regulated by any government agency.

Availability

Fxcess accepts clients from all over the world, excluding USA, Iran, Cuba, Sudan, Syria and North Korea.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

70+ Currency Pairs Based on major and minor world currencies.
16 Indice CFDs Based on baskets of different blue-chip stocks.
6 Metal CFDs Based on Gold, Silver, Platinum and Palladium.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
20+ Stock CFDs Based on shares of prominent US companies.

Comprehensive review

Fxcess was established in 2020, and is registered offshore in Bermuda. Like many offshore forex brokers, Fxcess is unregulated, and traders therefore need to be aware of the risks that are associated with depositing money with it. Should the broker go bankrupt or simply stop withdrawals for other reasons, there is not much clients can necessarily do to get their money back.

Still, it’s clear that this forex broker does have some good things going for it. Where Fxcess really stands out is in terms of the many forex pairs it offers. In total, the broker offers more than 80 forex pairs, which is quite a bit more than most other brokers offer. The selection here of course includes common pairs like the EUR/USD, USD/JPY, and USD/CAD, as well as a good selection of non-USD pairs like GBP/JPY, GBPCHF and EUR/JPY, to name just a few.

In terms of other trading instruments, Fxcess has a fairly good selection of single stocks, major stock indices, precious metals, and a handful of other commodities. Despite this being an offshore broker, however, crypto trading is not available here.

The only trading platform offered by Fxcess is the well-known MetaTrader 4 (MT4), an extremely popular platform in the forex trading community that has been around since 2005. As is the case with most brokers, Fxcess supports trading on the downloadable version of MT4 for Windows computers, on apps for Apple and Android mobile devices, and on the web version.

One thing that is relatively simple and straightforward with Fxcess is the account types it offers: an STP-style Classic account and an ECN account. As usual, the Classic account comes with slightly wider spreads but commission-free trading, while the ECN account has the tightest spreads but commissions on all trades.

One key difference between the two account types is the leverage that is available. On the Classic account, this can be set to a maximum of 1:1,000, while the ECN account limits the leverage to 1:500. It’s also worth noting that the Classic account may offer various bonuses from time to time, which are not available on the ECN account.

The standard $10 minimum deposit applies to both account types.

To fund a trading account with Fxcess, traders can use either Visa or MasterCard credit and debit cards, or make a bank transfer. Strangely, the broker does not accept any of the popular e-wallets that other brokers usually accept, and it has also avoided crypto deposits.

To get help from support, the Fxcess customer service team can be contacted via live chat or a message form on the website. Unfortunately, there is no phone number provided, and the broker has also not published any information about its support team’s working hours. As a result, we highly doubt that 24 hour support is available from Fxcess.

In conclusion, it should be noted that Fxcess is a relatively new offshore broker and it’s therefore difficult to find a lot of reliable user reports so far. From what we have heard, however, there have not been any major incidents with this broker. Its offering in terms of available assets is also pretty good, which could make this broker an interesting option to look for traders who enjoy using the MT4 platform.

Reviews from traders

4.19/5
(16 votes)
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