FOREX

FXVC Review: Is FXVC.com.au A Legit Forex Broker?

FXVC.com.au Review: this is the name of a Forex broker offering CFDs and is based in Australia. Is it safe to invest funds with FXVC? Read this review to see why it is safe to trade with this broker and also profitable.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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FXVC discloses that it is a Forex broker operating in Australia. Trading in the forex market in this region is under the jurisdiction of the Australian Securities and Investment Commission (ASIC). When we checked the online register, we discovered that this is truly a licensed and registered company.

It is always encouraged to trade with licensed brokers because they are mandated to follow trading rules. Also, the authority regulating them monitors their activities and looks into issues that clients might have with them.

Advantages of FXVC

Besides being a regulated broker, it offers high leverage which some traders find encouraging, although this is not always a good thing. There are many trading instruments made available to clients as well. Transaction options also mean clients can use payment means they find convenient.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

FXVC Trading Platform

FXVC offers traders the MT4 trading platform. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are: 30 currency pairs, CFDs on precious metals, indices and some popular cryptocurrencies. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverage offered to clients is 1:500 and while this may seem generous, it is not advisable. High leverages can lead to huge loss of funds as well. Spreads are 2.3 pips on the EURUSD pairs, which is quite too high. Though, the pricier account has a low spread of 1.1 pips.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on FXVC

The means that traders are to use to make deposits and withdrawals are: VISA, MasterCard, Bank Wire, Neteller, Skrill, PayPal, and Poli. We find it encouraging that e-wallets are allowed.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is $500 which is much higher than the obtainable of average of $100 to $250 that is common among legit brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is FXVC Licensed?

Yes. FXVC is a properly licensed and registered Forex broker. It is under the watch of the Australian Securities and Investment Commission (ASIC).

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To speak with an agent of the customer service of this broker, interested clients are to access the website and use the means of contact there.

Conclusion

Since FXVC is regulated by one of the top Forex authorities in the world, we rate it highly because of security of funds. However, we find that the spreads on the standard account are not encouraging as well as the minimum deposit requirement amount.

But it gives generous leverage and offers a MT4 platform. Want to say anything about this broker? We would like to hear from you in the comment section.

 

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

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mario

it was great to trade on FXVC, I give another try, but they need better service manager

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