FxCitizen at a Glance
| 🔎 Broker's Name | FxCitizen |
| 📍 Headquartered | Port Villa, Vanuatu |
| 📅 Year Founded | 2010 |
| ⚖️ Regulating Authorities | Vanuatu Finance Service Commission |
| 🌐 Countries not accepted for trade | Not indicated |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 🚀 Sign up bonus | Yes |
| 📈 Maximum Leverage | 1:1000 |
| 💰 Minimum Deposit | $10 / R 182,96 |
| 💳 Deposit Options | Credit card, Liberty reserve, Bank wire transfer, Perfect Money |
| 💳 Withdrawal Options | Credit card, Liberty reserve, Bank wire transfer, Perfect Money |
| 💻 Platform Types | MetaTrader5 |
| 📱 OS Compatibility | Mac, Android, iPhone, iPad, Web, Desktop |
| 📈 Tradable assets offered | Forex currency pairs, indices, and commodities |
| 👨💼 Languages supported on Website | English, Chinese, and Malay |
| 👥 Customer Support Languages | English, Bahasa, and Mandarin. |
| 📆 Customer Service Hours | 16/5 |
| 👉 Open a account | Click Here |
Min Deposit
USD 10
Regulators
VFSC
Trading Platform
MT5
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FxCitizen Review – 19 key points quick overview:
FxCitizen Overview
According to research in South Africa, FxCitizen is an English company founded in 2010 with headquarters in Port Villa, Vanuatu.
FxCitizen is the trading name of Universe Citizen Limited which is regulated by the Republic of Vanuatu Finance Service Commission. It was formed by a strong capital team and veterans with years of experience in the Forex industries.
FxCitizen is an execution-only Forex and CFD broker and functions on the White Label platform. This allows it to operate in a slightly different way than conventional brokers.
The broker is one of the largest white-label Forex brokers in the industry. It sells another company’s product or services as an affiliate to make profits, either by using a profit-sharing model or by earning a commission.
FxCitizen Safety and Security
FxCitizen is the trading name of Universe Citizen Limited and is not governed by any organization but claims to be a White Label broker of IKOFX.
White-label Forex brokers are hardly ever regulated and in most cases, the parent company is the regulated one, which prevents the white-label brokers from indulging in any financial malpractices.
On the broker’s website, it clearly states that the security of client funds is its top priority and that it is kept in segregated accounts in the world’s top banks.
FxCitizen Leverage
Leverage enables a trader to get a much larger exposure to the market the person is trading than the amount deposited to open the trade. Leveraged products, such as forex trading, magnify a trader’s potential profit – but also increase the potential loss.
Leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1 000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.
Margin is collateral to cover any credit risks that may arise during trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you need to have enough funds in your trading account to ensure sufficient margin.
For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged.
At FxCitizen the leverage ratio is 1:1000.
FxCitizen Accounts
FxCitizen offers a choice between two live account types with the following features:
Standard Account
ECN Account
FxCitizen also offers traders the option to open as many demo accounts as they need. The broker does not indicate how much virtual money is available in the demo account, but it can stay open indefinitely. It will automatically close if it has been inactive for more than 90 days.
Swap-free accounts for traders of the Muslim faith can be opened on the Cent and Standard accounts in line with the Sharia law.
Min Deposit
USD 10
Regulators
VFSC
Trading Platform
MT5
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FxCitizen Market Instruments
The most popular market instruments available from most brokers for trading include:
Forex:
Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Indices:
Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies in a nation.
Precious metals:
The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
Energy:
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions, and global economic growth.
FxCitizen offers the following of the above:
- Forex currency pairs
- Indices
- Commodities
FxCitizen Fees
Cost and fees depend on different factors, like spread and margins, and FxCitizen clients may also experience different fee structures according to their country or place of residence.
The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.
Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.
FxCitizen offers fixed spreads starting from 0 pips depending on the instrument you choose to trade in as well as the account type you are using.
A detailed spreadsheet is available on the broker’s website. The broker does not charge any commission for Cent or Standard account holders.
FxCitizen Deposit and Withdrawal
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.
In the case of FxCitizen, the following minimum deposits are required:
- Standard Mini Account – $10
- Premium ECN Account – $100
The following methods can be used to fund accounts and execute withdrawals:
| 💳 Credit card |
| 💳 Liberty reserve |
| 💳 Bank wire transfer |
| 💳 Perfect Money |
If withdrawals are made with Perfect Money and Liberty Reserve, it is processed within 24 hours. Withdrawals through credit cards take between 3 to 7 business days and for Bank wire transfers it takes between 1 to 3 business days.
FxCitizen offers USD as the trading currency for all accounts. Deposits into a trading account can be made in USD, EUR, GBP, CHF, or JPY but conversion fees will apply.
FxCitizen Trading Platforms
The forex trading platform provided by FxCitizen to its clients is the software to carry out their trades. Some brokers provide only one, and others quite a few platforms.
A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.
FxCitizen offers trading through the MetaTrader5 platform. This is the revised platform of the MetaTrader4 which is the most preferred trading platform worldwide. It is available in English, Chinese, and Malay.
It is user-friendly, fast, effective, and flexible and available for Windows, Mac, desktop, android, tablets, iPhones, and iPads.
Some of the features of MT5 are:
| Multi-language program interface |
| Streaming prices in up to 200 lots |
| Fully supports any Expert Advisor (EA) |
| Signals of system and trading actions |
| Built-in help guides for MetaTrader5 and MetaQuotes Language 5 |
| Ability to create various custom indicators, different time periods (from minutes to months) |
| Secure trade sessions: Clients are equipped with a unique username and password |
| Online news and a preview of each trading instrument are available |
| History database management and real-time data import/export facility |
| Continuously updated proprietary bridge |
| Internal mailing system and news update |
| Complete technical analysis package: 50+ in-built indicators and charting tools |
How to open a FxCitizen Account step by step
Step 1 – Visit the FxCitizen Website
Visit the official website of FxCitizen.
Step 2 – Fill out the registration form
Fill out all the required details to finish setting up your account
Similarly to a bank, to register a forex trading account with FxCitizen for the first time, you will be required to go through a basic “know your customer” process, which will allow FxCitizen to verify your submitted details and ensure the safety of your funds and account details.
The broker provides a link on its website to open accounts that takes only a few minutes.
Complete the registration form and upload the required documentation. After you have received verification from the broker, you can go ahead to choose an account type, make a deposit and start trading.
Min Deposit
USD 10
Regulators
VFSC
Trading Platform
MT5
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FxCitizen Customer Support
Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.
Customers can reach the support team in real-time by email, or live chat, or you could fill in a return request call form on the website. Support is given in English, Bahasa, and Mandarin 16/5.
FxCitizen Education
Before starting to trade, potential clients of FxCitizen should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.
FxCitizen offers various educational materials under the Tools and Learning link on its webpage.
It has a FAQ section where general questions are answered and also explains what forex is and how to trade in it.
There is also some explanation on how technical analysis of Forex trading work as well as the difference between this to fundamental analysis.
FxCitizen Research
To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitably as possible.
Although FxCitizen offers some educational tools it does not offer any research tools.
FxCitizen Awards
Being an awarded company instills extra confidence in traders. However, there is no indication that FxCitizen has received any awards since its inception.
FxCitizen vs FXGlobe vs XM – A Comparison
| 🔎 Broker | 🥇 FxCitizen | 🥈 FXGlobe | 🥉 XM |
| 💰 Minimum Deposit | $10 | $250 | $5 USD |
| 📝 Sign-Up Bonus | ☑️ Yes | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 1:1000 | 1:300 | 1:888 |
| 💵 Currency Pairs | - | 50+ | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
FxCitizen Current Popularity Trend
According to Google Trends, here is an overview of how frequently the search term – “FxCitizen” is entered into Google’s search engine over a given period of time.
FxCitizen Pros and Cons
| ✔️ Pros | ❌ Cons |
| Regulated by Vanuatu Finance Service Commission | No research tools |
| MetaTrader5 | Offers high leverage |
| Multiple education tools | |
| Demo account | |
| Swap-free accounts |
Conclusion
FxCitizen offers trading in forex and CFDs through the MetaTrader5 platform with a choice between four live account types.
The broker, being a white-label company, is not regulated but its parent company is, which ensures that the company does not use the client’s funds for any financial malpractices.
The leverage offered by FxCitizen is high and the broker does not offer a wide variety of trading instruments.
It has limited accepted payment methods which makes it difficult to trade with. It does offer some assistance for beginner traders through educational tools but lacks totally in research tools for the more advanced traders.
Disclaimer
Before deciding to trade forex, you should carefully consider your investment objectives, level of experience, and risk appetite.
Trading forex on margin carries a high level of risk and may not be suitable for all investors due to the high degree of leverage that will work against you as well as for you.
The possibility exists is either you will sustain a loss of some or all of your initial investment and therefore you should not invest the money that you cannot afford to lose.
You should be aware of the risks that are associated with forex trading, and kindly seek advice from an independent financial advisor if you have any doubts, according to research in South Africa.
Min Deposit
USD 10
Regulators
VFSC
Trading Platform
MT5
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Frequently Asked Questions
TRADING ENVIRONMENT
How many instruments can I trade with FxCitizen?
FxCitizen offers to trade in forex currency pairs, indices, and commodities
Which platforms are supported by FxCitizen?
MetaTrader5
Does FxCitizen offer leverage?
Yes, FxCitizen offers maximum leverage of 1:1000
What spreads can I expect with FxCitizen?
FxCitizen offers spreads starting from 0 pips depending on the instrument you trade-in as well as the account type you are using.
What is the overall rating out of 10 for FxCitizen?
The overall rating is 6/10
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