Established in Turkey, FXTCR is an unregulated forex trading platform catering primarily to Turkish users. It offers a range of trading products through its MetaTrader 4 platform, including Forex Pairs, Commodities, and Indices. Traders can get demo accounts to gain knowledge about the market more quickly by gaining experience in the trial account before trading with their real accounts in the markets.
Pros and Cons
Is FXTCR Legit?
At present, FXTCR lacks valid regulation. Its domain was registered on Sep 26, 2011, and the current status is “ok”. Please pay high attention to the safety of your funds if you decide to choose this broker.
What Can I Trade on FXTCR?
On FXTCR, you can trade with Forex Pairs, Commodities, and Indices.
Forex Pairs: Major and minor currency pairs.
Indices: Major global indices.
Commodities: Including metals and energy products.
Account Type
FXTCR provides demo accounts and real accounts for clients. You can gain knowledge about the market more quickly by gaining experience in the trial account before trading with your real account in the markets. In the trail account, you can watch real market movements and perform your transactions in the forex market by learning the real trading conditions.
Leverage
The maximum leverage is 1:100 for GBPUSD, while for EURUSD, the leverage is 1:10, quite low. Note that high leverage can amplify not only profits but also losses.
Spread and Commission
For major currency pairs, the spreads are as follows:
- EUR/USD: 1.5 pips
- GBP/USD: 2.09 pips
- USD/TRY: 13.04 pips
FXTCR does not explicitly charge a commission on trades as their trading costs are primarily built into the spread. However, for certain account types or specific trading conditions, additional fees might apply, which traders should verify based on their chosen account and trading strategy.
Trading Platform
FXTCR offers Meta Trader 4 for trading. MT4 is known for its user-friendly interface, advanced trading capabilities, and robust charting tools, available on both desktop and mobile (iOS and Android).
Deposit and Withdrawal
Deposit
Withdrawal
