FXVC Review

FXVC is a trading name of Centralspot Trading (Cyprus) Ltd. The company is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under reference number 238/14.

Trading assets are divided into four groups: Forex, Crypto, Commodities, Stocks and Indices. What surprised us was the quotation of the major currency pairs – only to the fourth digit. In addition, the average spread of the EUR/USD is 3 pips, which is an inexplicably high value.

You can view the company’s web-based platform without having to log in, just click on the Platform menu. It looks very simple and intuitive. However, you should log in to view all its features. Unfortunately, the industry-standard client terminal MetaTrader is not available with this broker.

FXVC has created 5 different accounts for each type of trader and we look at their basic properties. The main difference is the minimum amount you should invest. Bronze account requires an investment of at least EUR2,500. Customers receive a trial period of being able to have a dedicated manager, professional trading alerts and market review. If you want to open a Silver account, you must deposit at least EUR5,000. Then you’ll receive two lessons from the academy, a dedicated account manager and professional trading alerts. Gold account requires an investment of at least EUR10,000. Clients receive four trading lessons, a 10% commission discount on standard trading commissions and gold trading signals. According to the company, the most preferred account is the Platinum one. You must deposit at least EUR50,000 and in return you receive eight academy lessons, a 25% commission discount, platinum signals for trade and a trial period of VIP services. People who could afford to set aside EUR100,000 will be able to open a VIP account. They will receive unlimited academy lessons, VIP trading signals, a 50% commission discount and unlimited VIP services.

There are various forms of payment, including bank transfer, debit/credit cards, Sofort, Skrill and iDeal.

There is some useful content of the Education section in the website (fxvc.eu) including a third-party Economic calendar, Web TV, eBooks, a Glossary and an Asset Index where customers can find basic information about the shares offered. Analysis and Market buzz options are only available to registered customers.

Let us find what kind of broker FXCV is and how it executes orders. The ‘Terms and condition’ document indicates that slippage may occur, and this is a normal element when trading financial instruments. Slippage may appear in all types of orders and accounts FXVC offers. Stop loss orders are not guaranteed and they are filled at the next available price, which can be much worse than requested. It is also written that the company acts as an agent to all client’s transactions. That means it transmits all client deals to its liquidity providers or acts as an STP broker. The ‘Leverage and margin policy ‘document informs that negative balance protection is offered to all kinds of clients and their losses cannot exceed the capital they have invested.

We can conclude FXVC is an EU-regulated financial company that acts as a Straight Through Processing (STP) broker rather than a market maker. It offers online trading through its own developed web-based platform. It may sound good to beginners, but more experienced traders would like to be able to trade on the MetaTrader terminal. Although FXVC offers a VIP account, if you need to deposit at least EUR100,000, you will probably choose another brokerage company with better trading conditions.