FXCG company claims to have one highly reputable license issued by the Australian ASIC. Yet, we noted that some things didn’t add up, such as addresses, legal names, and more. This brings out the question of whether they are licensed at all.
We are about to reveal all this and much more in this detailed FXCG review. Keep four eyes open and don’t miss out on a thing.
| Regulated By: | Unregulated |
| Is This Company Safe? | No |
| Known Websites: | Fxcg.com |
| Have Warnings From: | N/A |
| Registered In: | Saint Vincent and the Grenadines |
| Operating Since: | 2012 |
| Trading Platforms: | MT4, FIX API |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $50 |
| Deposit Bonus: | Available up to $2.000 |
| Trading Assets: | Forex, indices, commodities, shares |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | If you are trading with an unregulated crypto exchange you can expect a lot of withdrawal issues. |
Legal Info: Is FXCG Legit Or A Scam?
In the first place, the company’s T&Cs reveal that ownership of this trading brand belongs to Capstone Global Markets LLC. Yet, the license listed in the ASIC registers belongs to Capstone Global Australia PTY LTD. In addition to that, the company claims to have a CIMA license. Still, the name in the register doesn’t match.
On top of all, the company claims that its services are not intended for residents of Australia, the European Union, the United Kingdom, and the United States. Therefore, how do they have a license at all? Or they don’t? Once you check the domain with real details, you might find out the truth.
Who Are FXCG’s Clients?
Another key fact is that the company claims to have limitations in some countries. Yet, FXCG reviews reveal that’s not true. Also, the company’s traffic analytics can confirm those details. In any case, most of the clients come from:
- United Kingdom
- Netherlands
- Italy
- Germany
- Portugal
In any case, to learn how to diversify companies by trust, read our Gamma Holdings review. If you experience any issues with any of these, don’t hesitate to contact our refund experts.
Traders Reviews
Another big deal about this firm is its poor customer rating. More than 50% of the comments on Trustpilot, out of 32, have negative ratings. All in all, it’s not the best start.
Another thing not adding up is the company claiming to be active for 11 years. Logically, they would have many more reviews and a far better reputation if they were legitimate.
Leverage, Commissions, Spreads, Fees and Taxes
The biggest problem with this brokerage is the leverage of 1:500. In fact, ASIC-regulated companies can offer a maximum of 1:30 for retail traders. That’s something you must take into consideration.
Spreads advertised by the broker are starting from 0 pips. But if their statements about regulation are not true, why would any of this be? Anyway, the FXCG broker is charging up to $4 commission per lot. Quite a reasonable amount, to be fair.
Bonuses
If you were thinking that’s all, hold on. Quite surprisingly, this company is offering a welcome bonus of up to $2.000. That’s an easy way to motivate traders into big first-time deposits. However, traders won’t have an option to withdraw it. On top of that, there are clauses that can make your bonus disappear quite quickly.
FXCG Trading Features
As can be seen, the FXCG broker has a lot of flaws. Yet, there are some positive things. Such as MAM and PAMM features, EQUINIX, and VPS Hosting. On top of that, there are different partnership programs available that could bring you extra income. Of course, if the broker pays out.
Trading Platforms Available
One of the positive surprises about this company is the FXCG MT4 platform availability. Options like scalping, hedging, ultra-fast execution speeds, and numerous technical and analytical tools make it the best choice. On top of that, there’s a FIX API feature for all fans of automated trading.
Available Trading Assets
Generally, the company has quite poor instruments to offer. On top of that, cryptos and stocks are missing. Therefore, traders can only choose between:
- Forex – USD/JPY, EUR/SGD
- Commodities – Brent, WTI
- Indices – ES35, FR40
Account Types
The account types with this brokerage are quite straightforward. There are slight differences between spreads and commissions. More or less, everything else is the same. In any case, the FXCG minimum deposit of $50 is the same for all of the following accounts:
- ECN Saber
- ECN Blade
- STP Classic
Mobile Trading App
A huge advantage of Meta Trader 4 is mobile compatibility. It allows customers to trade at any time without losing any functionalities. This could easily play a key role in choosing a broker. For some other key details, you should check our tips from the Immediate Granimator review.
Demo Account
Demo accounts are generally a great way to test the company’s features. On the positive side, FXCG broker has it available. Still, with all the irregularities found so far, you may as well rethink your decision.
Education
One of the big disappointments for traders might be a lack of educational programs. This broker offers quite risky leverage and advanced trading tools that inexperienced traders don’t know how to use. Therefore, this is a huge loss for the company.
FXCG Withdrawal
According to the policy, withdrawals may take up to 60 days. For instance, card transfers or refunds are processed within 60 days.
On the other hand, wire and other transfers may take up to 3 business days. Knowing some top-tier licensed firms manage it all in one business day, this is quite strange. Even to transfer the funds. Also, what’s surprising is that the company doesn’t charge any withdrawal fees. Yet, payment providers might do.
Customer Support
Important to realize is that the company has 24/7 available customer support. Even though the phone number available is connected to their parent company, you might try reaching them there.
Thus, most likely they will only respond through live chat, WhatsApp, or Telegram. After all, those are the primary contact options in this case.
Key Information To Consider About FXCG
Something that is really questionable is the company’s ASIC regulation. They couldn’t offer leverage of 1:500 if they had it. Also, there are numerous companies out there with similar business names, and it’s easy to mix them up. In any case, you should be cautious.
If any withdrawal problem occurs, our team is at your disposal. You can book a free first consultation at any time.
FAQ Section
What is FXCG?
FXCG is an offshore investment company with a registered address in Saint Vincent and the Grenadines.
Is FXCG a Legit Broker?
There might be potential issues due to unclear regulatory status and numerous companies with similar names.
How is the FXCG Withdrawal Request Made?
Once you log in to your account, you can go to “Apply for Withdrawal” and watch “Fund Flow” for details. If any problem occurs, reach our refund experts immediately.
Source:
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