FXCess Review: Learn About its Six Crucial Qualities

In a sea of brokerages, it can be difficult to find out which options you should even consider. Our FXCess review will outline some intriguing facts and perhaps pique your interest in this online broker.

1. FXCess offers access to over 300 markets

A broad asset coverage is crucial for a broker for multiple reasons. Firstly and most obviously, you want your broker to actually offer the trading instruments you're interested in. Secondly, portfolio diversification is a crucial step in risk management, ensuring your overall asset value isn't all red in market downturns. But this wouldn't be an FXCess review if we didn't tell you a bit more!

The asset classes available are:

Forex
Metals
Indices
Commodities
Futures
Shares

The 300+ assets available are spread into the world's leading categories, covering all traditional trading classes. Futures are a nice plus for traders who like to speculate, especially since they are sparsely available elsewhere.

2. The registration process on FXCess is simple

When you open fxcess.com, the first message you'll see is that you can start trading in under a minute. And while that claim is pushing the truth to its limits, since you can only get to a demo account in that time, the registration is really simple.

You'll need to fill in your personal details like your name and email, and set some basic account parameters like its type and base currency. Overall, if you've ever registered for an online service, this isn't any more complex than that.

Again, in this part of our FXCess review, we'd like to note that this process is only for a demo account. In order to get a live account, you'll go through the necessary KYC process and your first deposit, but we'll get to that.

One thing you may also notice while registering is that you can choose your bonus. So let's look at the promotions next!

3. FXCess offers four different types of potentially lucrative promotions

There are different bonuses that traders can opt for. The next part of our FXCess review will outline their general conditions. The bonuses can enhance your trading capital, or reward you for being an influential member of the online trading community. Before considering them, remember that bonuses cannot be withdrawn.

100% Sharing Bonus

This 100% deposit bonus merges your funds with the broker, having it share in the profits and losses. 

40% Power Bonus

This deposit bonus gives you 40% of your funds as extra capital that will then be used to amortise your losses. 

60% Credit Bonus

This bonus is the most straightforward, simply adding trading equity to your account based on your deposit. If it's under $1,000, the bonus is 60%, and it drops to 40% over $1,000. It caps out at $12,000, meaning traders can potentially get a total of $5,000 equity from the bonus.

Introducing Broker

The Introducing Broker or IB bonus is present in many modern-day brokerages. It's different from the other bonuses in that it doesn't require a deposit. Instead, it's a referral bonus, depending on the number of people referred and their traded lots.

The bonus caps out at $5,000 and is paid out monthly. As such, it can be quite a significant boon for influential traders or those who are more socially active.

4. Our FXCess review of security went great!

Meeting at least a minimal security threshold is key for any broker. We're glad to say that FXCess comfortably surpasses our expectations. 

It's a regulated entity, offering users a formal guarantee and a method of compensation in the case of issues. It's also important for our FXCess review that it passes technical requirements, like encryption, fund segregation, and a strong but quick KYC process. 

We did also mention the KYC process before. We should note that it's fairly standard, covering CTF and AML procedures. This way, the broker guarantees its services aren't used for nefarious purposes. It provides the broker more longevity, which, in turn, offers its users a guarantee of prolonged brokerage quality. 

On the user end, few people like KYC checks, but they are a necessity. The process itself is fairly simple, you'll just need to prove your identity with a picture and government ID, and your location with a recent utility bill.

Other than that, FXCess also enjoys a positive reputation among traders on various trust review websites. Its rating is always above a 4 out of 5 with a high number of reviews, which we consider a great performance. 

Lastly, it's quite proactive in communicating with users and building a trusting community, with multiple support methods and active social media channels. We're always glad to see brokers actually interact with traders, as it indicates a long-term orientation.

5. We must also mention the accounts in our FXCess review

Accounts are crucial to a broker's overall service. Here, there are two main types, Classic and ECN. 

As usual, the main difference is in the pricing. The ECN type offers spreads as low as 0.0, but adds some flat fees. Namely, traders can expect to pay $2.25 per lot per side and $4.5 per lot round-turn with the ECN account.

Classic is different in that it offers a much simpler cost structure, with spreads only. They start from 1.7 pips, so they are significant bit higher than ECN's but they may still be more useful for low-volume traders. 

It's also important for our FXCess review to note that multiple features are available only through the Classic option. For instance, bonuses and Islamic, swap-free features aren't available through the ECN account.

6. FXCess offers the powerful MT4 platform

MetaTrader 4 needs no introduction in the trading world. It's a high-power, intuitive platform that serves as a baseline of what trading software should look like. With detailed customization, a robust base feature set and an active community crafting custom indicators and EAs, the possibilities are nearly endless.

However, FXCess also takes it a step further with its PMAM module. This feature, aimed at pro traders and account managers, makes it easier to balance multiple MT4 accounts. It offers different features like one-click entry and activity reports while also having multiple allocation methods.

Has this FXCess review interested you in finding out more? Head over to fxcess.com and learn more about the broker's services!

*Terms & Conditions apply. Bonus cannot be withdrawn. 

All trading involves risk. It is possible to lose all your capital. You should consider whether you can afford to take the high risk of losing your money.