FXcast — Forex Broker

Scam!Doesn't accept US tradersUS traders
  • Bonus offers
  • Trading contests
  • PAMM accounts
  • LAMM accounts
  • MAM accounts
  • Segregated accounts
  • Affiliate program
  • Islamic accounts available

  See FXcast reviews

1.0/10 (5 qualified reviews)
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Company Surplus Finance S.A.
Founded in 2005
Online since 2007
Offices in Show countriesHide
Payment options Show payment optionsHide
Demo platforms
  • MetaTrader 4
Account currencies Euro
Nigerian naira
United States dollar
Currency pairs Show currency pairsHide
Regulated by FSC (Mauritius), C109007482 SEC-2.4
Website available in Show website languagesHide
Support available in Show support languagesHide
Support methods Show support methodsHide
Trading server time zone GMT

Account Type: Micro

Minimum account size $10
Minimum position size 0.01 lot
Spread type Variable
Typical spread on EUR/USD, pips 2
Minimum spread on EUR/USD, pips 2
Scalping Forbidden
Expert advisors Allowed
Trading instruments
Forex 1:400
Gold & silver 1:400
Trading platforms MetaTrader 4
Mobile Trader (SerSart)
Digits after the dot in quotes 4
Margin call level 30%
Stop-out level 30%
Minimum distance to stop orders, pips 12
Number of currency pairs 37
  • Hedging
  • Overnight interest rates (swaps)
  • Trailing stop
  • Pending orders
  • One-Cancels-Other (OCO) orders
  • One-click trading
  • Mobile trading
  • Automated trading

  Open demo account with FXcast.

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View contract specifications.

Reviews 

37 reviews of FXcast are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.

  Fdehay from France. Trading account #1XX8
Thursday, May 23, 2013

This broker must have closed down. Took away my balance with other people's as well. Please stay away.

A pure example of dodgy broker that bites you, one should stay with properly regulated brokers. Too bad for moneybookers.

  AISIA ERIC from UGANDA. Trading account #1XXXXXXXXXXX)
Tuesday, April 2, 2013

I just request someone to tell me what is happening with fxcast,i opened up account with them 2012 december,it came on but before i could even make any trade it went off to date,the worst part is that no one is giving any explanation.i am scared for the worst.

  Gabor from Hungary.
Wednesday, March 27, 2013

Hi Everybody,

the situation is the same as Hendrikx Philippe.

I have written a lot of emails. I have not got any answer.

what legal action can be taken in such a case?

Thank you,

  Hendrikx Philippe from paraguay. Trading account #3XXXX7
Thursday, February 21, 2013

Hi everybody,

Same case of Mr. Eric onoruyi.

I´ve open an account with fx cast since 2010, my balance is positive

and what a surprise that 5 weeks ago they put down the platform

without any reasons and prior advice. After communicated with them,

they answered me some strange justification :

*I´m not a verified customer (2 years that I´m a verified customer)

FXcast Support 2013-01-17 13:13:53 Dear Customer,

Trading is allowed to verified customers only.

Please provide us with ID documents which are verified by notary public with apostil.

Your FXcast Team

*After to sent one more time the papers that they asked me, they said me that they received thousand of paper and that take many days to verified.

FXcast Support 2013-01-21 11:56:47 Dear Customer,

the compliance office will get in contact with you.

Your FXcast Team

FXcast Support 2013-01-25 13:39:22 Dear Customer,

There are thousands of documents waiting for approval, can take few days.

Your FXcast Team

*Two week ago they said me that they put on the platform on Monday ( what Monday, I don´t know)

FXcast Support 2013-02-08 14:04:14

Dear Customer,

YOur account will be connected on monday.

Your FXcast Team

Today it´s the same : no account, no trade, no coherent answer.

Where is my money? Why the platform is down?

Be very careful with fx cast!!!!!

  Eric Omoruyi from Nigeria. Trading account #1XXXXX0
Friday, February 1, 2013

Good day. i want to know the position of fxcast.com,they have been out close to 4 weeks.i cannot reach them,they refuse to update their status. Is there anyone who know what is happening to fxcast? Is their anyone out there who is a client to fxcast? speak out!

  Eric Omoruyi from Nigeria. Trading account #1XXXXX0
Thursday, January 31, 2013

Firstly, i want to thank you for your good work.For about 3 weeks now,fxcast platfoam have been down,the strange part is that,there is know communication,no reply to messages i sent them,to know the problem.Please what might be the problem?

  Dwi Forex from Auckland, New Zealand. Trading account #1XXXXX4
Wednesday, December 5, 2012

Withdrawal Problem. I have neen waiting for more than ONE MONTH and I still have not received the money yet.

I'll be happy to mark it as Resolved if and only if my money arrives.

  Mannix from Nigeria. Trading account #8XXX0
Tuesday, July 3, 2012

I have been trading for a while and i can see that i am an experienced trader. I see a lot of reviews about customers being scammed and never believed that i would fall victim. I woke up this morning to check my profitable opened trade of 908USD as a position trader to notice that my Fxcast account has been deactivated BECAUSE I WAS MAKING PROFIT. Immediately, i sent a mail to this backoffice do inquire why. i got the most stupid and senseless reply of my life.

Dear Mannix Musah

RE: RE: From Branches Page

Dear Customer,

due to the negative balance of the AUDUSD position your account wnet into margin call and therefore has been closed with negative balance.

Your FXcast Team

and later got another mail

Dear Mannix Musah

RE: From Branches Page

Dear Customer,

your account has been deactivated due a negative balance as result from your trading.

You can always open a new account and deposit new funds.

Your FXcast Team

I have now resolved that i may have been scammed by a company i started off with even when they did not have their so called "regulatory licence" . Right now i want to believe that every this from this company is a BIG LIE and until they activate my account so that we all can see the margin call they claimed i had.

  FXcast Mauritius from Mauritius.
Wednesday, April 6, 2011

Dear Marvy,

We do not allow any scalping style, if by hand or with an Expert Advisor. Scalping style means that a customer closes his positions always within 10 minutes. Trades in loss can be closed at any time. Profitable trades should be longer than 10 minutes in the market. . Trading news is ok for FXcast if the position follows the 10 minutes rule.

Your FXcast Eam

  marvy from Nigeria.
Tuesday, March 29, 2011

do u accept scalping?i want to know

  Jonathan from Benin City, Nigeria.
Wednesday, March 23, 2011

I almost had my heart broker with some other brokers trying to get my money out. This is not the case here. I've done some testing with a few thousand to deposit and withdraw, it is rather quick. Besides this, the platform performs well under all conditions. The spreads are fixed, execution is very good considering I am trading 1-4 lots at a time.

  FXcast Mauritius from Mauritius.
Tuesday, August 17, 2010

Hi all,

unfortunately most broker review websites do not update their information about brokers. Here is our withdrawal fee:

Deposit: 0

Withdrawal: 1,5% of amount size

Min 30 USD, Max 65 USD

Min 16 EUR, Max. 41 EUR

Additional fees may occur due to bank wire charges of transmitting banks.

We do of course not separate betrween profit and loss for these fees. No broker does.

And the paym,ent options are not up to date:

Better check http://fxcast.com/ProcedureBasics.php?PaymentOptions before writing strange reviews we think.

Your FXcast Team.

  adekunle from Nigeria.
Tuesday, June 15, 2010

You have to pay 1.5% on the amount you are withdrawing and it could also go higher check their price list on their website.

forex trading is risky enough when they charge when you make money who will you charge when you loose cash??

  Mr OKECHUKWU from Benin City.
Friday, May 28, 2010

This is to reply Rotimi text...........

What do u know as insult? rotimi.

Its a well known fact that Internet connection in Nigeria is very bad, every thing that fxcast says is true regarding Nigerian connection.

For more information visit fxcast local office here in Nigeria, 37 forestry road, Benin city.

www.africa.fxcast.com

  FXcast Support Team from Mauritius.
Tuesday, May 25, 2010

Dear Audience,

sorry but this maybe something patriotical - but indeed not true. You might ask our Nigerian Partner http://africa.fxcast.com/ Okechukwu Chukwurah, Owner of Africa Market Technology Ltd (our partner since 2 years) about his problems and the problems of all his customers.

Nigeria has immense problems with the internet connection, we here talk about 6 MB or 12 MB lines - almost T1 quality and they are using 256K lines or even less. It has nothing to do with the chat - their connection simply makes timeouts afert timeouts, disappears for seconds and this is simply a fact.

See some reports from Nigerians:

http://internetmarketingnigeria.com/internet-service-provider/internet-service-providers-review-%E2%80%93-starcomms-nigeria/comment-page-1/

Your FXcast Support Team.

Visit FXcast website. 

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