FXCL: MT4 account choices, payment rules, copying and company identity

FXCL offers retail forex and CFDs through MetaTrader 4, with smaller-unit Cent accounts, fixed- and floating-spread schedules, ECN Pro and managed-account services. Current public pages provide account-opening links and an active 2026 promotion. Account choice determines available instruments, commission, margin thresholds and permitted automation.[1]

The About page names FXCL Markets Ltd as registered in Botswana and claims operations since 2006. US and Canadian citizens or residents and UN-sanctioned jurisdictions are excluded. Its USD1 entry headline is not a complete account-specific minimum; the accepted account and payment route govern onboarding.[18]

A cent lot is one-hundredth of a standard lot. Supported denomination lists vary; EUR appears on Cent/Standard, while other listed currencies include USD, MYR, THB, ZAR, CNH and JPY. ECN Pro is USD-only.[2]

The FAQ instead gives a general USD20 minimum and additionally excludes Vanuatu. Its terms also separate login inactivity from trading inactivity. The entry amount and eligibility should be settled for the actual account rather than inferred from the broadest marketing headline.[4]

View full spreads & trading costs

The instrument schedule includes forex, gold and silver. ECN Pro adds equity-index CFDs, WTI and Brent oil, natural-gas futures references, and BTC/USD, ETH/USD and LTC/USD. These are leveraged contracts, not evidence of cash-share ownership or a cryptocurrency wallet. Its published crypto session is five days a week, not continuous weekend trading.[3]

MT4 is offered for Windows and macOS, Android and iOS, plus a web terminal. The download page also links an AppGallery version. A platform download link does not establish identical indicators, automation or account administration on every device.[16]

ECN Pro quotes USD3 per lot for FX, metals and indices, and 0.15% per lot for crypto. The page does not clearly identify a side or round trip, so no all-in completed-trade cost is calculated.[2]

Swap rates are available in MT4 Market Watch → Specification. They are holding costs separate from the published spread; fixed-spread accounts are not presented as unrestricted scalping accounts.[4]

MetaQuotes documents MT4 market orders, buy/sell limits, buy/sell stops, stop-loss and take-profit. Broker settings determine execution and allowed distances; an available platform button does not itself confirm a broker-specific strategy permission or guarantee the requested price.[20]

ECN Pro publishes margin call at 100% and stop-out at 80%. These thresholds are not guaranteed loss limits.[2]

FXCL’s MT4 overview describes EAs that analyse, open, close and modify trades. Its trailing-stop explanation is device-specific: the computer and terminal must remain running for updates; the last transmitted stop-loss remains on the server. Start’s separate prohibition on EAs still applies.[17]

For zero-spread symbols marked #, the FAQ freezes an order until both more than three pips and more than 180 seconds have elapsed. On ECN Pro, chart prices can differ from the liquidity-provider prices in Market Watch, which governs trading. These qualifications matter when assessing an apparent trigger or fill discrepancy.[4]

Non-ECN-Pro metals use double margin, effectively half the account leverage. News and weekend rules can lower leverage further. The server observes GMT+3 in summer and GMT+2 in winter; account and symbol settings take precedence over a headline maximum.[3]

The risk disclosure allows slower execution, different fill prices or non-execution during abnormal markets. It also warns that internet failures and payment delays can interrupt trading or margin funding. A pending stop is therefore not a guaranteed-price insurance policy.[8]

The refund policy concerns unused deposits: request within one month and before any account activity. Refunds return to the funding source, with reversal costs borne by the client. Transactions already used for trading cannot be cancelled through this procedure. Name mismatches can lead to a return to the original payer.[7]

The trading terms describe depositing and withdrawing in the account’s original currency without an FX charge. Their fixed- and market-rate account arrangements should not be interpreted as one universal conversion benchmark for every payment provider.[3]

The website’s Botswana UIN is a company-registration claim, not a financial-services licence. A firm-specific capital-markets authorisation was not established from the retrievable NBFIRA directory. Corporate registration alone supplies no compensation entitlement.[18][21]

The agreement permits negative-balance adjustments, but also offset against other accounts or refusal at the company’s discretion. It is not an unconditional per-account loss cap.[5]

The risk disclosure says off-exchange forex customers may rank as general creditors if the company fails, and even separately kept client funds may face other creditor claims. This is a material limitation on interpreting segregation language as protected custody or priority repayment.[8]

FXCL’s “Insurance Program” is a broker trading-loss promotion, with no external insurer named. Standard/Cent clients, excluding IB accounts, need at least USD500 and may designate 10–100% of balance. The trigger is balance falling to 10% of the insured amount; trading-volume requirements must be completed within 365 days. The page leaves required volume to a calculator; a fixed formula and its lot unit were not established.[9]

Full qualifying volume permits the full insured amount; partial payouts are 30%, 40% or 50% after more than 50%, 70% or 90% of required volume. Positions must be closed before claiming; the stated payment period is five business days after verification. Participation adds one spread point and USD10 per standard lot on metals. Withdrawals must leave at least the insured amount. The company can amend or end the scheme; it is not established statutory or third-party insurance.[9]

The About page advertises support in clients’ native languages on a 24/5 basis. A dedicated outage dealing number or authenticated alternative order route was not established. Published email and form contacts are therefore described as support channels, not confirmed authority to execute a closing order.[18]

Trading-password recovery uses support; Cabinet access has a forgotten-password flow. No compulsory withdrawal hold following a credential change was established in the inspected instructions.[4]

Complaints must be emailed within two business days with identity, account, timing, order and issue details. The agreement targets five business days for review but allows extension. It also provides electronic monthly statements and trade confirmations, free unless advance written notice changes that arrangement.[5]

Copy rules restrict internal transfers to copy accounts; the FAQ also permits ECN Pro transfers. That boundary remains unresolved.[14][4]

MAM withdrawals first settle fees; falling below the minimum investment automatically ends following. Copy and MAM rules exclude bonuses. The manager mandate and withdrawal timetable therefore affect access to money separately from the ordinary payment-method processing target.[15]

The current 150% Autumn Bonus runs through 30 November 2026, capped at USD2,000 per month. Its campaign page specifies no minimum deposit. Cash conversion requires lot turnover equal to 20% of the USD bonus. For USD150 credit, that is 30 qualifying lots; meeting a deposit amount alone does not make the credit withdrawable.[11]

General rules count standard lots of non-hedging trades lasting over three minutes and exceeding three spreads, with a minimum three-pip movement. Withdrawal or outgoing transfer before completion removes the bonus; credit can also disappear when equity reaches the credit amount, potentially causing stop-out. ECN Pro is excluded. Credit normally expires after 120 days, subject to campaign terms; inactive bonus accounts have a separate 90-day cancellation rule. The rules also restrict negative-balance cancellation on accounts using tradable bonuses.[12]

Requests are due within one week of deposit, with equity at least half the requested credit. Start has a USD500-per-trader bonus cap; Live Contest accounts are excluded. Zero-spread eligibility is unclear because the general rules retain a 2018 permission expiry. Copy/MAM exclusions are described above.[12][14][15]

The separate Cashback account awards promotional credit from deposits and qualifying activity. That credit cannot itself be deposited, withdrawn or transferred and expires after 30 days. Profits can be transferred to eligible live accounts, excluding ECN Pro/Copy/MAM, while equivalent credit is deducted. The programme is unavailable in the Philippines. It should not be confused with cash already credited to a normal withdrawable balance.[13]

FXCL announced ECN Pro on 9 November 2020, adding its commission-based account with forex, indices, crypto and metals. That dated product announcement supports a specific part of the service’s history; it does not verify the current licensing or legal succession of any company.[19]

The current footer identifies FXCL Markets Ltd in Botswana, UIN BW00005716042, at Plot 54368 Western Commercial Road, The Hub, Itowers, CBD, Gaborone.[10]

The Trading Agreement instead identifies FXCL Markets Ltd in St. Vincent and the Grenadines. No dated migration or novation document was located. The customer agreement’s counterparty therefore needs reconciling with the Botswana registration claim.[5]