What is FxCitizen?
FxCitizen is an online broker that offers a suite of trading platforms and instruments for its clients. The company is regulated by the Financial Services Authority (FSA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC).
The FxCitizen brand was established in 2010. The company is owned and operated by Citizen Holdings Limited, a financial services company based in Nicosia, Cyprus.
FxCitizen offers the following trading platforms to its clients:
– MetaTrader 4 (MT4)
– WebTrader
– Mobile Trading Platforms
The broker provides access to a wide range of financial markets, including forex, CFDs on stocks, indices, commodities and cryptocurrencies. All trades are executed on the Straight Through Processing (STP) model with no dealing desk intervention. This means that all orders are routed directly to market liquidity providers for execution. Execution speeds are fast and there is no requote policy in place.
Clients of FxCitizen can deposit and withdraw funds using the following methods: bank wire transfer, credit/debit card, e-wallets (Skrill, Neteller) and local payment processors (in selected countries). Deposits are instant, while withdrawals usually take 1-2 business days to process. The minimum deposit required to open an account is $100.
The Different Types of Accounts Offered by FxCitizen
FxCitizen offers a wide range of account types to suit the needs of different kinds of traders. The main types of accounts offered are:
1. Standard Account: This is the most basic account type offered by FxCitizen, suitable for beginner traders. It requires a minimum deposit of $500 and gives access to all the major currency pairs, as well as mini and micro lots. Leverage is up to 1:200 and spreads start from 3 pips.
2. ECN Account: This account type is designed for more experienced traders who want direct access to the interbank market. It requires a minimum deposit of $5,000 and gives access to all currency pairs, as well as major indices and commodities. Leverage is up to 1:100 and spreads start from 0 pips.
3. STP Account: This account type is aimed at professional traders who want ultra-low spreads and fast execution speeds. It requires a minimum deposit of $25,000 and gives access to all currency pairs, as well as major indices and commodities. Leverage is up to 1:50 and spreads start from 0 pips.
4. Islamic Account: This account type is designed for Muslim traders who want to trade in compliance with Sharia law. It requires a minimum deposit of $500 and gives access to all the major currency pairs, as well as mini and micro lots. Leverage is up to 1:200 and there are no swaps
The Various Platforms Used by FxCitizen
FxCitizen offers a variety of platforms for its users, each with different features and benefits. The three main platforms used by FxCitizen are:
1. The WebTrader Platform: This is a web-based platform that is simple and easy to use. It is ideal for beginners or those who don’t want to download any software.
2. The MetaTrader4 Platform: This is a more advanced platform that is popular among experienced traders. It offers more features and flexibility than the WebTrader platform.
3. The Mobile Trading Platform: This platform allows you to trade on the go, using your smartphone or tablet. It has all the same features as the other two platforms, but is designed for mobile devices.
Which platform you use will depend on your level of experience and what type of device you are using. All three platforms are available for both demo and live trading accounts.
The Instruments Traded on FxCitizen
FxCitizen is a reliable and user-friendly online broker that offers its clients a wide range of tradable instruments. The company is regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers its clients the MetaTrader 4 (MT4) trading platform.
The instruments traded on FxCitizen include major, minor and exotic currency pairs, precious metals, CFDs on indices, stocks, commodities and cryptocurrencies. All of these instruments are available for trading on the MT4 platform.
FxCitizen also provides its clients with a variety of educational resources, such as video tutorials, e-books and webinars. These resources can help traders learn about the different instruments traded on the broker’s platform and how to trade them effectively.
User Ratings for FxCitizen
FxCitizen is an online broker that offers a variety of different financial instruments and platforms for its users to trade with. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) and has been in operation since 2006.
FxCitizen has received generally positive user ratings, with most users rating the broker as “good” or “excellent”. The broker is praised for its wide range of available assets, competitive spreads, and good customer service. However, some users have complained about the broker’s withdrawal process, citing delays and difficulty in getting their money out. Overall, FxCitizen seems to be a good option for those looking for a reliable and feature-rich online broker.
Conclusion
FxCitizen is a reliable and regulated online broker that offers its clients a wide range of platforms, instruments and user ratings. The company is committed to providing its clients with the best possible trading experience and offers a variety of tools and resources to help them succeed. Whether you’re a experienced trader or just starting out, FxCitizen is definitely worth considering as your broker of choice.