When a broker promises instant execution, leverage of up to 1:1000, and at the same time cannot confirm a single serious license, this is always a reason to question whether it can be trusted or whether it is a scam. Welcome to the FXCess review, where we examine what is wrong with the company and highlight the serious red flags.
The visual appearance of the company’s official website is standard, similar to most other brokerage platforms. FXCess uses a typical offshore broker structure: a top navigation menu, a homepage listing supposed advantages, and a footer containing legal information and risk warnings.
The main menu contains:
The same area includes language switch buttons — 10 in total. Nearby are buttons for logging in or registering an account. Overall, everything looks standard.
The broker constantly uses pseudo-motivational and overly promotional phrases. For example, “Smarter features”, “Trade. But Better”, “Instant. Secure Withdrawal”, and “Tight spreads”. All of these phrases are clichéd and widely used by most illegal and offshore companies whose goal is to attract traders with money.
In the footer, FXCess provides its legal address and cites a license from the Financial Services Commission of the British Virgin Islands. Risk warnings and links to legal documents are also placed there. In the “About Us” section, the company mentions segregated storage of client funds but does not state its founding date or business model. No other licenses besides the Financial Services Commission of the British Virgin Islands are mentioned.
FXCess offers several communication channels. First, there is an online chat located in the bottom right corner. Second, there are social media accounts on Facebook, YouTube, and X (Twitter). However, judging by the number of followers, the broker attracts little interest. Content is posted merely for formality, and engagement is very low. Third, there is an email address, but it is difficult to find. Instead of listing it in the “Contacts” section, the company has hidden it in the user agreement. There is no email address, even in the footer of the official website.
Next, let us look at what FXCess offers its clients. The broker provides only two account types:
Judging by the names, the account types are supposed to differ in terms of business model. However, the company does not disclose any details about the ECN setup, which means it may simply be a label used to attract traders. Is there a real ECN here? This is a critical question, and the broker does not provide an answer on its official website.
The minimum deposit is low — $10. The trading platform used is the popular MetaTrader 4. Nothing unusual, these are fairly typical conditions for an offshore broker.
The mention of ECN raises doubts. The company lacks serious regulation and provides no evidence that client trades are routed to interbank liquidity. In reality, this looks like a dealing desk operating against its own traders. This creates a conflict of interest, since FXCess profits only when clients lose money.
Next, it is necessary to review the company’s legal details. The broker lists the legal entity Notesco (BVI) Limited, which is registered in the jurisdiction of the British Virgin Islands and holds a local license. This information needs to be verified.
This is true. FXCess is indeed based in the British Virgin Islands and holds a license from the Financial Services Commission. At first glance, this creates the impression that the company is regulated, but there are several important nuances that significantly change the overall picture.
First, a license from the FSC BVI does not belong to the group of so-called top-tier regulators (such as the FCA in the United Kingdom, the ASIC in Australia, the CySEC in Europe, or the CFTC in the United States), which impose strict standards for trader protection, require reporting, deposit insurance, operational transparency, and regular audits.
As for trader protections, the licenses used by FXCess do not include a mandatory investor compensation scheme, unlike the Financial Conduct Authority (protection up to £85,000) or the Cyprus Securities and Exchange Commission (protection up to €20,000), and there are no strict rules for client fund segregation enforced by the regulator. This means that in the event of a broker’s bankruptcy, technical issues, or account disputes, your deposit is unlikely to be legally protected.
In essence, this is an offshore company that can do almost anything. There is no supervisory authority that would step in to protect traders. This is the core risk of trading here.
Reviews of FXCess are mixed. Clients complain about bonuses being credited automatically without their consent, as well as about other issues. This further confirms how risky it is to work with such a company — it has free rein and can act at its own discretion.
FXCess is interested in client losses, and there is no real regulation of its activities. As a result, the company can manipulate price quotes, impose deposit bonuses that prevent traders from withdrawing funds, and use other fraudulent tactics. Trading here is an enormous risk that is not worth taking.
Helen always knew that her passion for journalism was more than just a hobby. It was a potential career. She began her professional journey at a local newspaper in the small town where she was born. Writing on a variety of topics, from local news to financial reviews, her persistence and investigative talent soon caught the attention of editors at larger publications. We are thrilled that Helen accepted our offer and now writes for fincapital-reviews. Her exposés always create a buzz. Sometimes, we think Helen could easily open her own detective agency.
This scam company aggressively pushes bonuses and manager-assisted trading, and now it is clear why. After I funded my account, a manager called every day, persuading me to increase my deposit with a “100% bonus”. After I refused, the attitude toward me noticeably worsened. On my first attempt to withdraw profits, the request was rejected due to alleged non-compliance with bonus conditions, even though I never activated the bonus. Then I started receiving emails about “aggressive trading”, despite opening only 1–2 trades per day. In the end, the account was blocked and support stopped responding. I consider this company a scam and a fake!!! I want to warn everyone!
FXCess is one of the most unpleasant experiences in my trading career… I deposited $550, and a bonus was credited immediately, even though I did not activate it. I traded cautiously, made a profit, and decided to withdraw part of it. After submitting the withdrawal request, the account was placed “under review”, and a couple of days later the money was simply returned to the trading account. Without any explanation. After that, a trade suddenly opened that I did not place, and the account went into a loss… Support responds with template messages and refers to the bonus agreement.
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