FXCess
Questions & Answers

Yeh they are good. I wouldnt say they are *that* special, just about 30% gain over other brokers. For me, the funding rates (swap rates) are more important. There are some positive ones in here, and staying in the trade is earning me good money sometimes. But spreads are good too, yeh.

I’m not sure… I traded mainly on their ecn accounts, implementing my EAs, being involved in algo trading. So, never checked what the trading central and how to use it… But still I heard smth about its availability on mt4 and since every account here uses mt4 only, it has to be present at any account. All you have to do is to deposit a certain amount to use and actively trade to use its insights.

Well, there are two accnt types from Fxcess: classic and ECN. The fromer speaks for itelsef, comes with classic conditions :), the thing is that it spreads there are floating and on averge might be 1.6, but depends on the situaition of couse, sometimes if it is too volatile, the spreads widens, which is a normal situation for trading. As for leverage, here it will be x1000, which is huge. And I woild not recommend you to use it fully, now the markets are too unpredictable, too many ups and downs... As for ECN, then the spreads start from 0, however there is a comission $4.5 per lot round-turn. U might say why so high fees, but think about that razer thin spreads, if you r right and the trade goes in your planned direction, the costs will be nothing... The leverage here is x500, which is again, sufficiently high. ALso, notice that swap free feature is available only for classic accnt, take that into account. Both account comes with dedicated account manager availalbe 24/5, that is a great customer support.

Yes, you can surely use them, and they are called EAs on MT4. It's just my subjective opinion, but relying too much on EA's can be disappointing, becasue I think the history shows us that human analysis is the best. Because if there was a bot whcih is capable of bringing stable income through the months, everybody would have switched to it and everybody would have been a winner in the market, but still, there's nothing like it.

You typically look for one with tighter spreads and moderate leverage in such cases - they offer ECN acc so have a look at that. If you do trades not so often - standard can work ok too, but I'd consider ECN cause its usually smoother for breakouts

For me, there is no single thing I guess, everything works here, maybe this could be the answer. For example, I dont do anything extraordinary, I just swing trade on Mt4 and I have my classic account. When I fulfill my plan I just request withdrawals and it comes through, and then it's all over again, so I guess stability of the broker is what keeps me here as a client.

If you know what you are doing and you just need more flexibility to be able to improve your volume, then you can use the power bonus which is gonna be +40% on your account. However, if you are still learning, then I would go for sharing bonus, becasue it would share your losses as well as your wins.

Bonuses, they boost your deposit and give enough confidence to trade successfully and with less risks not abusing high leverage. I personally received a 100% sharing bonus, however, you have to keep in mind that there are some strict terms and conditions that you have to meet.

Yeah, you are able to open several trading accounts with fxcess, and this is actually a smart way of using their accounts for sure. You can open two trading accounts, one classic, one ECN and they are going to be separate. You will have to top up them both, they are not mixed at all. Look, if you are going to deposit into the ECN account, the same amount of money will not magically appear in the classic account. You will have to spend twice as much for trading at this point, but you will face some advantages. If the volatility is not that big in the market and news are far, you can use classic account as spreads there are normally wider but commissions are at zero. However, if the market is moving too rapidly and spreads are widening too much, you can switch to ECN account where spreads are minimal but you will have to pay for commission fees. The execution is going to be better with ECN as well. Anyway, it’s your decision at the end how to use these two accounts, just make sure to get the best of them.