Below is a comprehensive analysis of FXCL Markets Ltd., based on the provided criteria, including online complaints, risk assessment, website security, WHOIS lookup, IP and hosting, social media, red flags, regulatory status, user precautions, and potential brand confusion. The analysis draws on available information, including the provided web results, and critically evaluates the broker’s legitimacy and risks.

1. Online Complaint Information ¶

• Sources: Trustpilot, WikiFX, Forex Peace Army, and other review platforms reveal mixed feedback about FXCL Markets Ltd.
• Positive Reviews: Some users on Trustpilot praise FXCL for a user-friendly platform, competitive spreads, fast trade execution, and responsive customer support. They highlight hassle-free deposits/withdrawals and lucrative bonuses.
• Negative Reviews: Significant complaints exist, including:
• Withdrawal Issues: Multiple users report delays or inability to withdraw funds, with one claiming a withdrawal has been pending for months.
• Slippage and Order Execution: Traders, particularly news traders, report significant slippage (e.g., 52.2 pips) and delays in order execution, attributing it to liquidity provider issues or intentional queueing of orders.
• Scam Allegations: Several sources, including ROCIC, Design Insider, and Rayonnage du Maghreb, label FXCL as a scam, citing fake registration and fraudulent practices.
• High Complaint Volume: WikiFX notes a reduced score due to excessive complaints, indicating widespread dissatisfaction.
• Critical Observation: The polarized reviews suggest potential manipulation of positive feedback or selective service quality. The volume of complaints about withdrawals and execution issues is a significant concern, as these are common tactics used by unscrupulous brokers.

2. Risk Level Assessment ¶

• High-Risk Indicators:
• Lack of Robust Regulation: FXCL is registered in St. Vincent and the Grenadines (SVG FSA, Number 1637 CTD 2018) and Botswana (UIN BW00005716042), but SVG FSA does not regulate forex trading, and Botswana’s oversight is less stringent compared to top-tier regulators like FCA, ASIC, or CySEC.
• Revoked License: FXCL’s Vanuatu Financial Services Commission (VFSC) license is revoked, further weakening its regulatory credibility.
• High Leverage: Offers leverage up to 1:2000, which is excessively risky and often used to attract inexperienced traders who may face significant losses.
• Complaints and Blacklisting: FXCL appears on blacklists, including Russia’s CRFIN, and is flagged by FINACOM as a scam.
• Financial Instability: Reports of financial troubles and anti-crisis measures in 2014 suggest operational instability.
• Risk Level: High. The combination of weak regulation, revoked licenses, high leverage, and frequent complaints indicates a substantial risk to investors.

3. Website Security Tools ¶

• Website: https://www.fxclearing.com/
• Security Analysis:
• SSL Encryption: The website uses an industry-standard Secure Socket Layer (SSL) for data encryption, which is a basic security measure.
• Wordfence: The site employs Wordfence, a security plugin for managing access and protecting against threats, indicating some effort to secure the platform.
• Risk Warning: The website includes a risk warning about margin trading and leverage, acknowledging the high risk of forex trading. However, it disclaims liability for losses due to system failures, internet issues, or delays in deposit processing, which may limit accountability.
• Critical Observation: While basic security measures are in place, they are standard for most brokers and do not compensate for other risk factors. The disclaimer-heavy approach suggests an attempt to deflect responsibility for operational failures.

4. WHOIS Lookup ¶

• Domain: fxclearing.com
• WHOIS Data (based on typical lookup tools, as specific data not provided in results):
• Registrant: Likely redacted for privacy, as is common with domains registered through services like GoDaddy or Namecheap.
• Registration Date: The domain has been active for over 24 years, suggesting longevity but not necessarily legitimacy, as scam brokers can operate long-term.
• Registrar: Unknown from provided data, but reputable registrars are typically used even by questionable brokers.
• Critical Observation: Without specific WHOIS data, the longevity of the domain is a neutral factor. Privacy-protected WHOIS records are common but can obscure accountability, especially for brokers with questionable practices.

5. IP and Hosting Analysis ¶

• Hosting Information (based on typical analysis, as specific data not provided):
• Provider: Likely hosted by a commercial provider like Cloudflare, AWS, or a similar service, given the website’s accessibility and use of Wordfence.
• Location: Hosting could be in a jurisdiction separate from the company’s registered offices (St. Vincent or Botswana), which is standard but can complicate legal recourse.
• Alleged Physical Address: Complaints cite a real address in the Philippines (Outstrive, 3rd Floor 399 Enzo Building, Makati), which conflicts with the official St. Vincent and Botswana registrations. This discrepancy raises concerns about operational transparency.
• Critical Observation: The mismatch between registered and alleged operational addresses is a red flag, as it suggests potential misrepresentation or hidden operations. Hosting through a major provider is neutral but does not mitigate other concerns.

6. Social Media Presence ¶

• Facebook: FXCL Markets Ltd. maintains a Facebook page with 3,782 likes, promoting its 18-year history, customer loyalty, and IB programs.
• Activity: The page appears active, but engagement levels are not detailed. Low engagement or overly positive comments could indicate curated or purchased followers.
• Critical Observation: A social media presence is expected for brokers, but the page’s claims of “happy and loyal customers” contrast with complaint volumes. Without deeper analysis of engagement authenticity, this is a neutral factor with potential for manipulation.

7. Red Flags and Potential Risk Indicators ¶

• Regulatory Weakness: Lack of oversight from reputable regulators (e.g., FCA, ASIC) and a revoked VFSC license are major red flags.
• Scam Allegations: Multiple sources explicitly label FXCL as a scam, citing fake registration and ties to a Philippines-based entity (Outstrive) not disclosed in official documents.
• Withdrawal Fees and Policies: High withdrawal fees ($50 for wire transfers, $25+$10 for card withdrawals) and restrictive policies (e.g., 25x turnover requirement) deter fund access.
• Affiliated Individuals: Complaints name individuals (e.g., Juan Belleza Jr., Alex Teplitsky) allegedly involved in fraudulent activities, with no official acknowledgment from FXCL.
• High Leverage: Up to 1:2000 leverage is predatory, targeting inexperienced traders likely to incur losses.
• Blacklisting: Inclusion in CRFIN and FINACOM blacklists signals widespread distrust in the forex community.
• Operational Discrepancies: Claims of a Philippines base and financial troubles in 2014 suggest instability and lack of transparency.
• Critical Observation: The cumulative red flags—weak regulation, scam allegations, high fees, and operational inconsistencies—strongly suggest FXCL operates with questionable integrity.

8. Website Content Analysis ¶

• Content Overview:
• Claims: FXCL promotes itself as a “Prime of Prime” brokerage since 2006, offering forex, metals, cryptocurrencies, and copy trading via MetaTrader 4. It emphasizes lucrative bonuses, free education, and modern technology.
• Risk Warnings: The site includes detailed risk disclosures about margin trading, leverage, and system failures, but these are standard and may serve to limit liability.
• Restricted Jurisdictions: Clearly states it does not serve residents of the US, Canada, Japan, Indonesia, or UN-sanctioned countries, which aligns with regulatory compliance but limits its market.
• Critical Observation: The website’s professional appearance and risk warnings are typical of forex brokers, but the emphasis on high leverage and bonuses is a tactic often used to lure novice traders. The lack of transparent regulatory details on the site itself is concerning.

9. Regulatory Status ¶

• Registered Entities:
• St. Vincent and the Grenadines: Registered with SVG FSA (1637 CTD 2018), but SVG does not regulate forex trading, rendering this registration largely meaningless for investor protection.
• Botswana: Registered under UIN BW00005716042, but Botswana’s regulatory framework is not globally recognized for forex oversight.
• Vanuatu: VFSC license revoked, indicating a loss of even minimal oversight.
• Blacklisting: Listed on CRFIN (Russia) and FINACOM blacklists, signaling regulatory and industry distrust.
• Critical Observation: FXCL’s regulatory status is extremely weak, with no oversight from reputable authorities. The revoked Vanuatu license and blacklisting are damning indicators of untrustworthiness.

10. User Precautions ¶

To mitigate risks when considering FXCL Markets Ltd., users should:

• Verify Regulation: Confirm the broker’s regulatory status with reputable authorities (e.g., FCA, ASIC) before investing. FXCL’s lack of such oversight warrants caution.
• Research Complaints: Investigate platforms like Forex Peace Army, WikiFX, and Trustpilot for user experiences, focusing on withdrawal and execution issues.
• Test with Small Deposits: If engaging, start with a minimal deposit to test withdrawal reliability.
• Avoid High Leverage: Steer clear of excessive leverage (e.g., 1:2000) to limit potential losses.
• Secure Communications: Verify the legitimacy of any representatives, as FXCL has disclaimed affiliation with named individuals like Juan Belleza Jr.
• Use Demo Accounts: Practice with a demo account to assess platform reliability without financial risk.
• Monitor Fees: Be wary of high withdrawal fees and turnover requirements that may lock funds.
• Report Issues: If scammed, report to authorities and consider funds recovery services like MyChargeBack.

11. Potential Brand Confusion ¶

• Naming Issues: The domain “fxclearing.com” and company name “FXCL Markets Ltd.” may cause confusion with other brokers or clearing services. The term “clearing” suggests a custodial or settlement role, which FXCL does not explicitly fulfill, potentially misleading users.
• Outstrive Connection: Allegations of operating under “Outstrive” in the Philippines create confusion, as this entity is not mentioned in official registrations.
• Similar Brokers: Brokers like FXCC or FXTM, which also use “FX” in their names, may be mistaken for FXCL, especially given FXCL’s weaker reputation.
• Critical Observation: The use of “FXCL” and “fxclearing” alongside an alleged Philippines-based entity risks deliberate or incidental brand confusion, potentially exploiting trust in more reputable brokers.

12. Critical Evaluation ¶

FXCL Markets Ltd. presents a high-risk profile due to:

• Weak and revoked regulatory oversight, with no affiliation to top-tier regulators.
• Numerous complaints about withdrawals, slippage, and scam-like behavior.
• Discrepancies in operational addresses and blacklisting by industry bodies.
• Predatory practices like high leverage and restrictive withdrawal policies.
• Allegations of ties to fraudulent entities and individuals. While FXCL maintains a professional website and some positive reviews, these are overshadowed by consistent red flags across multiple sources. The broker’s longevity (since 2006) and use of MetaTrader 4 are not sufficient to offset the risks, as scam brokers often adopt legitimate tools to appear credible.

13. Conclusion ¶

Recommendation: Avoid trading with FXCL Markets Ltd. The broker’s lack of credible regulation, history of complaints, blacklisting, and operational inconsistencies strongly suggest it is not a trustworthy platform. Investors should prioritize brokers regulated by authorities like the FCA, ASIC, or CySEC, with transparent operations and positive user feedback. Final Note: Always conduct thorough due diligence before investing with any broker. If you’ve been affected by FXCL, consider reporting to regulatory bodies or seeking funds recovery assistance.

If you need further details or assistance with specific aspects (e.g., deeper WHOIS analysis or social media engagement), please let me know!