FXCL At a Glance
| Broker's Name | FXCL |
| 🏛️ Headquarters | St Vincent and Grenadines |
| 📅 Year Founded | 2006 |
| ⚖️ Regulating Authorities | Financial Services Authority (‘FSA’) |
| 🌐 Countries not accepted for trade | US, Canada, Japan |
| 📌 Accounts | Cent Account Standard Account Interbank Cent Account Interbank Standard Account ECN Plus Account |
| ☪️ Islamic account (swap-free) | Yes |
| 📒 Demo Account | Yes |
| ✴️ Institutional Accounts | Yes |
| 👨🏼💼 Managed Accounts | No |
| ⬆️ Maximum Leverage | 1:1000 |
| 👉 Sign Up Bonus | No |
| 💰 Minimum Deposit | $1 USD / R16 ZAR |
| 💳 Spread | Fixed, starting from 1 pip |
| 💳Fees | No Deposit or withdrawal fees |
| 💳 Deposit Options | Online bank (Paytrust), Bitcoin, PerfectMoney, Wire transfer, Local deposit, FasaPay, Dragonpay |
| 💳 Withdrawal Options | Online bank (Paytrust), Bitcoin, PerfectMoney, Wire transfer, Local deposit, FasaPay, Dragonpay |
| 📊 Platform Types | MetaTrader4 |
| 📶 OS Compatibility | Desktop, smartphones |
| 📈 Tradable assets offered | 30+ currency pairs, Cryptocurrencies, CFDs, Stock Indexes, Other Commodities |
| 💬 Languages supported on Website | English, Thai, Indonesian, Malay, Russian, Vietnamese, Lao |
| 💬 Customer Support Languages | English, Thai, Indonesian, Malay, Russian, Vietnamese, Lao |
| ⏲️ Customer Service Hours | 24/5 |
| 🔎 Open an Account | 👉 Click Here |
Min Deposit
USD 1
Regulators
Not Regulated
Trading Platform
MT4
Crypto
Yes
Total Pairs
30+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our FXCL below.
FXCL review – 19 key point quick overview:
FXCL At a Glance- FXCL Overview
- FXCL Safety and Security
- FXCL Sign-Up Bonus
- FXCL Minimum Deposit
- FXCL Demo Account
- FXCL Leverage
- FXCL Accounts
- FXCL Market instruments
- FXCL Fees, Spreads & Commissions
- FXCL Deposit and withdrawal
- FXCL Trading platforms
- FXCL Current Popularity Trend
- FXCL vs Exness vs XM – a Comparison
- FXCL Customer Reviews
- FXCL Pros and cons
- FXCL Conclusion
- FXCL Disclaimer
- Frequently Asked Questions
FXCL Overview
According to research in South Africa FXCL Markets is an English company founded in 2006 with headquarters on Saint Vincent and the Grenadines.
FXCL Markets, formerly known as FX Clearing, has recently changed its name and jurisdiction but not its ownership.
FXCL Markets is dedicated to the investment needs of institutional and retail clients and is committed to helping them to pursue their financial goals.
The company carries out the full list of brokerage services, including dealing with Foreign Exchange, Precious Metals, Commodities, Fund Management, Clearing, Primary Brokering, and other legal activities.
Along with advanced information technologies and qualitative software, FXCL provides high-level brokerage services.
Min Deposit
USD 1
Regulators
Not Regulated
Trading Platform
MT4
Crypto
Yes
Total Pairs
30+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FXCL Safety and Security
FXCL is registered in Vanuatu and regulated by the Ministry of Finance and Treasury of the Republic of Vanuatu. It has the right to operate as a brokerage company, and make deals, and operations in the international forex market.
Furthermore, it is registered on Saint Vincent and the Grenadines as IBC (International Business Company) registration number 1637 CTD 2018.
This type of offshore brokerage faces very little scrutiny from government agencies and has very limited regulation. It is not a safe broker to trade with.
FXCL Sign-Up Bonus
FXCL does offer traders a 125% booster bonus when signing up. There are also various other bonus opportunities that is provided for new and existing traders with FXCL.
FXCL Minimum Deposit
| ⭐ Features | ℹ️ Information |
| 💰 Minimum Deposit | $1 USD / R16 ZAR |
| 📊 Average spreads from | From 1 pips |
| 💳 Deposit / Withdrawal fees | None |
| 📊 Maximum leverage | 1:100 |
| 🔥 Bonus | Booster Bonus |
| ☎️ Customer support | 24/5 |
The minimum deposit amount required to register an FXCL trading account is $1. This minimum deposit is equivalent to R16 ZAR at the current exchange rate between the South African Rand & United States Dollar.
FXCL Demo Account
FXCL does not offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment.
FXCL 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 the 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 or more than 100% to be able to open new trades, otherwise your trading account will be fully hedged.
At FXCL Markets the leverage ratio is 1:1000
Min Deposit
USD 1
Regulators
Not Regulated
Trading Platform
MT4
Crypto
Yes
Total Pairs
30+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FXCL Accounts
| 💠Feature | 📈 Cent Account | 📈 Standard Account | 📈 Start Account | 📈 Interbank Cent Account | 📈 Interbank Standard Account | 📈 ECN Pro Account | 📈 Live Contest Account |
| 📊 Minimum Deposit | $1 USD / R 16 ZAR | $1 USD / R 16 ZAR | $1 USD / R 16 ZAR | $1 USD / R 16 ZAR | $1 USD / R 16 ZAR | $1 USD / R 16 ZAR | $1 USD / R 16 ZAR |
| 📈 Spreads | Fixed, starting from 1 pip | Fixed, starting from 1 pip | Floating | Floating, starting from 1.1 pip | Floating, starting from 1.1 pip | Floating, starting from 0.1 pip with a 5-digit price feed | Floating |
| 💵 Fees | No Deposit fees / No withdrawal fees | No Deposit fees / No withdrawal fees | No Deposit fees / No withdrawal fees | No Deposit fees / No withdrawal fees | No Deposit fees / No withdrawal fees | No Deposit fees / No withdrawal fees | No Deposit fees / No withdrawal fees |
| 💳 Leverage | up to 1:1000 | up to 1:500 | up to 1:2000 | up to 1:500 | up to 1:500 | Forex, metals: up to 1:300 Indices: up to 1:100 Crypto: up to 1:10 | up to 1:1000 |
| 👉 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here | 👉 Click Here | 👉 Click Here | 👉 Click Here | 👉 Click Here |
FXCL Markets offers the following types of accounts:
- Cent Account
- Standard Account
- Interbank Cent Account
- Interbank Standard Account
- ECN Plus Account
The biggest differences between the account types are the spreads, the margin call level and the currency of the account.
How to open an FXCL account
1. Step 1 – Register an account
Navigate to the FSMsmart home page and select the option “Open Live Account”
2. Step 2 – Complete Information
Complete all the information requested and select “Submit”
3. Step 3 – Account verification
Once the account is registered, clients will receive a confirmation email on the registered email address. Once the account is verified, clients can log in and start trading.
FXCL 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.
Commodities
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 of 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.
FXCL Markets offers the following of the above:
- 30+ currency pairs
- Cryptocurrencies
- CFDs
- Stock Indexes
- Other Commodities
FXCL Fees, Spreads & Commissions
Cost and fees depend on different factors, like spread and margins, and FXCL Markets 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 ask 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.
The spreads differ from account to account and are as follows:
- Cent account: fixed spread starting from I pip
- Standard account: fixed spread from 1 pip
- Interbank Cent account: tight spread from 1.1pip
- Interbank Standard account: floating spread from 1.1 pip
- ENC Plus account: floating spread from 1.1pip
FXCL Markets charge no commission but do charge swap fees for holding trades overnight and they can be viewed within the trading platform you are using.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
FXCL 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 FXCL Markets, the minimum deposit required is $1.
The following methods can be used to fund accounts and execute withdrawals:
- Online bank (Paytrust)
- Bitcoin
- PerfectMoney
- Wire transfer
- Local deposit
- FasaPay
- Dragonpay
All transactions can be made directly from the Trader’s Cabinet in the following currencies: USD, EUR, MYR, THB and NGN.
Deposit methods on the same account cannot be mixed but it does allow mix withdrawal methods and provides payment fee coverage as a promotional campaign carried out of the company’s own accord.
The limits for fee coverage are $500 for deposits and $100 for withdrawals per trader per month. Withdrawal requests is processed within 1 to 2 business days.
FXCL Trading platforms
The forex trading platform provided by FXCL Markets to its clients is the software to carry out their trades. Some brokers provide only one, 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.
FXCL Markets provides MetaTrader4 as the only trading platform. It is available for desktops and mobiles.
MT4 is the number one platform among most Forex traders and is famous for its powerful features which help you make well-considered trading decisions.
FXCL Current Popularity Trend
According to Google Trends, here is an overview of how frequently the search term – “FXCL” is entered into Google’s search engine over a given period of time.
FXCL vs Exness vs XM – a Comparison
| 🔎 Broker | 🥇 FXCL | 🥈 Exness | 🥉 XM |
| Established | Established in 2006 | Established in 2008 | Established in 2009 |
| 💵 Min. Deposit | $1 USD / R16 ZAR | $1 USD / R16 USD | $5 USD / R80 ZAR |
| 💳 Inactivity Fee | No | Yes | Yes |
| ☪️ Islamic Account | 📌 Yes | Yes | Yes |
| 🎉 Demo Account | Yes | Yes | Yes |
FXCL Customer Reviews
FXCL Attractive broker with 1 pip…
FXCL Attractive broker with 1 pip spreads, no swaps, no commissions, with a minimum deposit of $5.suitable for beginners like me with small capital. the registration process is easy, traders can deposit and trade immediately, by verifying at a later date.
Good broker but deposit method very less
Please add more deposit methods like skrill or perfect money for ECN
Experience About FXCL
Good experience, The trading mentor was very helpful and polite. I am much impressed with my overall experience with FXCL.
FXCL Pros and cons
| ✔️ Pros | ❌ Cons |
| MetaTrader4 as only platform | Not regulated by a familiar authority |
| Quality educational tools | Not available for clients from US, Canada or Japan. |
| Choice between various trading accounts | |
| High leverage |
FXCL Conclusion
FXCL Markets has quite a lot to offer traders. There is several accounts to choose from and it is convenient to have a choice between STP and ECN accounts including the floating or fixed spreads.
This brokerage offers high leverage, low minimum deposits, attractive bonuses and insurance. MT4 is available for download and the firm offers several opportunities for education and mobile trading.
The only drawback is that it is an unregulated broker which makes the risk bigger when choosing FXCL as a broker.
Min Deposit
USD 1
Regulators
Not Regulated
Trading Platform
MT4
Crypto
Yes
Total Pairs
30+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FXCL Disclaimer
FXCL Markets Ltd. is compensated by the spread. Leverage may increase gains or losses. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors.
You should make sure you understand the risks involved, seeking independent advice if necessary.
FXCL Markets Ltd. does not solicit residents of Japan, the USA, and Canada to open trading accounts. Citizens of mentioned countries are not accepted. Residents and citizens of the UN-sanctioned countries are also not accepted, according to research in South Africa.
Frequently Asked Questions
Is FXCL a fake or scam broker?
FXCL is regulated by Financial Services Authority (‘FSA’)
What is the overall rating out of 10 for FXCL?
The overall rating is 7/10
How many instruments can I trade with FXCL Markets?
You can trade several different instruments with FXCL Markets, which include the following:
- 30+ currency pairs
- Cryptocurrencies
- CFDs
- Stock Indexes
- Other Commodities
Which live trading accounts does FXCL Markets offer?
- Cent Account
- Standard Account
- Interbank Cent Account
- Interbank Standard Account
- ECN Plus Account
What are the available deposit currencies for an FXCL live trading account?
USD, EUR, MYR, THB and NGN.
Top 4 Brokers
