FXC Markets Review

Is FXC Markets a scam or a legit broker?

BT Systems LTD has been suspected as a scam broker. It operates under the brand name FXC Markets is a brokerage firm that provides online currencies and CFDs trading services. The company is registered in the Marshall Islands, an offshore zone, and does not hold any authorization or license to perform financial services. Even though it is mentioned about many jurisdictions that are restricted to open a trading account with FXC Markets.

FXC Markets is a Forex and CFD brokerage owned and operated by BT Systems LTD, registered in the Marshall Islands. The Marshall Islands is an offshore destination where usually brokerage services are not regulated.

The company doesn’t provide much information, only two contact numbers – British and Spanish one. Usually, this means the brokers that are not regulated in Europe are targeting EU residents.

In a case with FXC Markets, it is not under the oversight of the UK’s financial regulator – the Financial Conduct Authority (FCA) nor Spain’s National Securities Market Commission (CNMV).

Moreover, the broker was blacklisted by the Italian CONSOB. It is safer to trade with brokers regulated by UK’s FCA or Australia’s ASIC instead.

For example, the license from the UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license aside from client deposits. Check the list of the FCA-regulated brokers here.

Conclusion

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

Yet, it is always great to hear your personal opinion about FXC Markets. So you may share your experience or thoughts or discuss them below or ask us for additional information.