The
Company
Established
in 2010, FxCitizen is an offshore brokerage that offers trading in more than 30
currency pairs, CFDs on gold, silver and oil through the MetaTrader 4 (MT4)
platform. CFDs on indices & shares are not available with this broker.
FxCitizen is
a trading name of Universe Citizen Limited which regulated by the Republic of
Vanuatu Finance Service Commission. Vanuatu is an offshore tax-free
destination, where registration procedure for forex and binary brokers is fast
and inexpensive. Minimum capital requirements are also low, amounting to $2000.
As is usually the case with offshore zones, little focus is placed on
supervision of registered entities and client protection, which is why trading
with offshore or non-regulated brokerages is extremely risky.
That is why
we advise traders to select a forex broker licensed in UK, Cyprus,
orAustralia for instance, where traders have certain level of protection
and where financial watchdogs exercise supervision over financial services
providers.
Company Overview
Company Name
|
Universe Citizen Limited
|
Headquarters
|
115 Barrack Road , 3rd Floor , Belize City , Belize
|
Website
|
|
Regulation
|
Regulated by Republic of Vanuatu Finance Service Commission
|
Trading Instruments
|
Forex , Commodities & Indices
|
Trading Platform
|
MT4 (desktop , mobile) , Mobile Cabinet
|
Deposit /
Withdrawal
|
Visa/Mastercard , Perfect Money , Wire Transfer , Local
Depositor
|
Bonus
|
Deposit Bonus 35% , Margin Booster 100%
|
Services
|
CashBack Program , Monthly Lucky Draw
|
Customer Service
|
Live Chat
|
Trading
Accounts
Account
type
|
Minimum
deposit
|
Minimum
trade size
|
Maximum
leverage
|
Average
Spreads (& Commission)
|
Cent Micro
|
$10
|
0.01
|
1:1000
|
2.0 pips,
fixed
|
Standard
Mini
|
$10
|
0.1
|
1:500
|
2.0 pips,
fixed
|
ECN Premium
|
$1000
|
1
|
1:200
|
0.8 pips +
0.3 pips / lot
|
Segregated
ECN
|
$5000
|
10
|
1:200
|
0.8 pips +
0.3 pips / lot
|
FxCitizen
offers two groups of accounts types – Standard (Micro & Mini) and ECN.
Micro & Mini accounts offer higher leverage and fixed spreads with no
commission fees. Besides, these account s have swap-free trading
optionavailable to investors of Islamic belief.
ECN accounts, on the other
hand, offer variable spreads with commission fees and lower leverage
levels. Keep in mind that mini, micro lots, as well as promotion offers
are not available to ECN account holders. In addition, FxCitizen, offers fund
management services (PAMM) as well.
FxCitizen’s
offerings seem typical for an offshore brokerage – low minimum deposit
required, high leverage levels and competitive spreads. The fixed
spreadsoffered by this broker are typical for the forex market, fixed at 2 pips
for the EUR/USD pair, and ECN trading costs amount to around 1.4 pips on EUR/USD
per standard lot round turn, which is average. Scalping, hedging and EAs are
allowed at FxCitizen, however restrictions apply toscalping – positions
must be opened for at least 2 minutes.
*Risk
Warning: Forex and CFD trading involves significant risk to your invested
capital.
