FXCL

Unregulated / High Risk
1.1/5 user rating Nov 10, 2025
WikiFX Link ↗ Visit Website
Min. Deposit $100
Trust Score 2.2/10
Regulation N/A
Spread N/A
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Critical Risk Warning Live AI Analysis · Powered by algorithmic scoring model
Critical Warning

FXCL has a critically low score of 2.2/10. Regulatory visibility is weak and investor protection should be treated with extreme caution.

"This broker shows a severe risk profile. Regulatory visibility is weak, investor protection is unclear, and caution is strongly advised before any capital allocation."
Score: 2.2/10 Risk: High Updated: Nov 10, 2025
Performance Matrix

Main Score & Risk Matrix

N/A
Score
2.2
Very Poor
Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.
License 2.4
Business 1.7
Risk Control 2.0
Software 2.7
Regulatory 2.2
Terminal Snapshot

FXCL Trading Conditions

Registered Region Botswana
Operating Period 5-10 years
Minimum Deposit $100
Spread N/A
Licenses N/A
Contact Email support@fxclearing.com
Contact Number N/A
Website www.fxclearing.com
Balanced Review

Pros & Cons

Pros

  • Low minimum deposit of $1
  • Leverage up to 1:2000
  • Wide range of trading instruments including Forex and cryptocurrencies
  • Supports popular MT4 trading platform
  • Multiple payment methods for deposits and withdrawals

Cons

  • Revoked regulation status by VFSC
  • Limited customer support options
  • No Islamic trading accounts available
  • No support for MetaTrader 5
  • High risk of withdrawal issues reported
Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature FXCL AvaTrade DBG Markets XM
Operating Period 5-10 years See review See review See review
Region Botswana See review See review See review
Minimum Deposit $100 See review See review See review
Spread N/A See review See review See review
Trust Score 2.2/10 See review See review See review
Product Fit

Account Types

What Account Types and Fees Does FXCL Offer?

Account Type Target User Group Essential Characteristics Applicability Notes
Retail Account Beginners and casual traders Low minimum deposit, user-friendly interface Suitable for small-capital practice
Professional Account Experienced traders Higher leverage, lower spreads Requires trading volume qualifications
Corporate Account Corporate clients Customized services, dedicated account manager Requires corporate documentation
Islamic Account Traders seeking swap-free options Compliant with Sharia law Applicable based on religious requirements
Demo Account New traders and those testing strategies Practice trading with virtual funds No risk involved, ideal for skill development

Account Opening Process

To open an account with FXCL, users must follow a straightforward process. Initially, traders need to provide personal information, including their name, contact details, and date of birth. Following this, employment and financial details are required to assess suitability for various account types. Furthermore, identity verification is mandatory, which includes submitting a government-issued ID and proof of address. FXCL allows for flexibility, permitting users to upgrade to a professional account as their trading experience and volume increase.

Trading Fees

Product Spread (pips) Commission Notes
Forex (EUR/USD) 0.8 $0 (ECN: $3.5/lot) Tight spreads for major pairs
Forex (GBP/USD) 1.0 $0 (ECN: $3.5/lot) Competitive spreads
CFDs (US Stocks) 1.5 $3/lot Fixed commission structure
CFDs (Indices) 1.0 $3/lot Standard commissions apply
Cryptos (BTC/USD) 1.0% 0.15% Variable based on market conditions

Other Fees

FXCL applies several additional fees that traders should be aware of. Deposit and withdrawal fees may vary based on the payment method chosen. Inactivity fees may apply if an account remains dormant for an extended period. Traders also need to consider platform usage fees if applicable, as well as overnight interest charges, also known as swap rates. Additionally, currency conversion fees may be incurred for transactions made in different currencies.

Editorial Verdict

Expert Verdict

R
Research Desk
Senior Broker Analyst
Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.
Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

FXCL User Reviews

3.0
★ ★ ★ ★ ★
4 total reviews
5 star
4%
4 star
4%
3 star
4%
2 star
20%
1 star
60%
Mike8924
Philippines
★ ★ ★ ★ ★
I deposited funds into FXClearing and was placed under a managed account handled by Tech-RMS. After submitting multiple formal revocation requests, FXClearing has never responded. Their support is non-existent; emails go unanswered, and the live chat is always offline. It seems designed to trap client money while passing blame. A complete scam.
cenon lumabad
Philippines
★ ★ ★ ★ ★
I tried to withdraw my funds multiple times, but they keep trading my remaining balance into losses. I’ve instructed them to stop trading, but they ignore my requests. It’s frustrating and distressing, especially in a medical emergency. Beware of this broker.
Juciee
Nigeria
★ ★ ★ ★ ★
FXCL offers a variety of payment methods which is very convenient. Their trading platform, MT4, is reliable and packed with features. Overall, my experience has been positive, but there is always room for improvement in customer support.
wuwuo
Egypt
★ ★ ★ ★ ★
I checked out FXCL mainly because of their Lucky Summer Festival, which had a big prize fund. It’s an interesting way to spice up trading, and I appreciate the efforts they make to engage their users. I’ve had a great experience so far.

These are the highest-rated forex brokers registered in Botswana. Each broker listed below has been evaluated based on licensing status, trading conditions, platform quality, and user feedback within the same regulatory jurisdiction as FXCL.

Regional broker recommendations will appear here once more Botswana-based brokers have been reviewed on this platform.

Global Rankings

Top Rated Forex Brokers & Reviews (2026)

The following brokers represent the highest overall trust scores across all regions on our platform. They are selected independently of FXCL's profile and serve as a benchmark for traders seeking top-tier alternatives worldwide.

AvaTrade
★ ★ ★ ★ ★
9.5/10
Ireland
Since 15-20 years
DBG Markets
★ ★ ★ ★ ★
9.3/10
Australia
Since 5-10 years
XM
★ ★ ★ ★ ★
9.3/10
Cyprus
Since 15-20 years
FXTM
★ ★ ★ ★ ★
9.3/10
United Kingdom
Since 10-15 years
IC Markets Global
★ ★ ★ ★ ★
9.3/10
Australia
Since 15-20 years
GTCFX
★ ★ ★ ★ ★
9.2/10
United Arab Emirates
Since 15-20 years
STARTRADER
★ ★ ★ ★ ★
9.2/10
Australia
Since 10-15 years
Knowledge Base

Frequently Asked Questions

Review the regulation section above and verify all license claims directly with the relevant regulator before opening an account.

The currently configured minimum deposit is $100. Always confirm this on the broker website before funding.

The current spread reference configured for this broker is N/A.

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