Company Profile
Full Name Of Company : FxCitizen
Established : FxCitizen Was Established Between The Past 2-5 Years And Is A Relatively New Online Forex Broker.
Headquarters Location : FxCitizen Is Headquartered In Belize , A Jurisdiction Known For Its Lower Regulatory Requirements.Registered Capital : Information On The Registered Capital Of The Company Is Not Currently Available.
Regulatory License : As Of 2023 , FxCitizen Does Not Have Any Valid Financial Regulatory License.
Executive Background And Advisory Team : Details Of The Company's Executives And Advisory Team Were Not Provided.
Industry Association Members : Whether FxCitizen Is A Member Of Any Industry Association Was Not Provided.
Compliance Statement : FxCitizen Does Not Provide A Clear Compliance Statement, But As A Market Maker (MM) Broker, Its Profits Are Derived From The Difference Between The Purchase Price And The Selling Price Of Assets.
Enterprise Structure And Equity Structure : Details Of The Company's Organizational Structure And Ownership Structure Are Not Provided.
Core Business And Services
Main Business Areas : FxCitizen Mainly Provides Trading Services For Financial Instruments Such As Foreign Exchange Trading, Stocks, Energy And Precious Metals.
Who It Serves : FxCitizen Serves Both Beginners And Experienced Traders , Offering Multiple Account Types To Meet Different Trading Needs.
Technical Platform : FxCitizen Offers MetaTrader5 (MT5) Trading Platform , Which Supports Multiple Devices And Operating Systems, And Allows The Use Of Expert Advisors (EAs) And Trading Robots.
Differentiating Advantages :
- Offers Leverage Of Up To 1:1000 , Enabling Traders To Trade With Smaller Funds.
- Allows A Minimum Deposit Of $10 , Suitable For Traders With Limited Funds.
- Offers A Variety Of Trading Tools, Including Currency Pairs, Stocks, Energy, And Precious Metals, Among Others.
Risk Management System : FxCitizen, As A Market Maker, Although It Offers Faster Order Execution Speed And Smaller Spreads, It Has Potential Conflicts Of Interest With Its Clients, Which May Affect The Objectivity Of Trading Decisions.
Development Milestones
Key Funding Rounds : No Information On Key Funding Rounds For FxCitizen Is Provided.
Major Strategic Partnerships : No Information Was Provided On Any Major Strategic Partnerships With FxCitizen.
Industry Awards : No Information Was Provided On The Industry Awards Received By FxCitizen.
Management Scale Breakthrough : No Information Was Provided On The Management Scale Of FxCitizen.
Trading Products
Supported Tools : FxCitizen Offers The Following Types Of Trading Tools:
- Currency Pairs (e.g. EUR/USD)
- Stocks (e.g. Apple, Google, Etc.) Energy (e.g. Crude Oil)
- Precious Metals (e.g. Gold, Silver)
Spreads :
- EUR/USD Has A Competitive Spread Of 2 Pips .
- Other Currency Pairs May Have Higher Spreads Depending On The Trading Instrument And Account Type.
Maximum Position Limit : Position Limit Information For Some Instruments Is Not Provided.
Trading Software
Trading Platform : FxCitizen Only Provides MetaTrader5 (MT5) Trading Platform.
Features And Advantages :- Compatible With Multiple Devices And Operating Systems , Including Windows, Mac, IOS And Android.
- Offers Interactive Charts And Customizable Tools To Meet The Individual Needs Of Different Traders.
Disadvantages : Some Users May Find MT5 More Complex, Especially For Beginners.
Deposit And Withdrawal Methods
Supported Payment Methods : FxCitizen Offers A Variety Of Deposit And Withdrawal Methods, Including:
- Bank Transfer
- Credit/Debit Card (Visa, Mastercard)
- Cryptocurrencies (e.g. BTC, ETH, Tether)
- Electronic Wallets (e.g. Neteller, Skrill, Perfect Money)
Minimum Deposit : Cents The Minimum Deposit For A Micro Account Is $10 .
Withdrawal Processing Time : No Information Is Provided On The Processing Time For Withdrawals.
Costs & Fees : No Information Is Provided On Commissions For Deposits And Withdrawals. There May Be Unspecified Fees.
Customer Support
Supported Languages : FxCitizen Provides Customer Support In English And Bahasa .
Support Channels :
- Live Chat
- Customer Support Has Limited Hours And Is Only Available On A Part-time Basis From Monday To Friday.
- Lack Of Phone Support.
- Offers Multiple Trading Tools And Account Types.
- Supports Multiple Payment Methods And Currencies (such As Cryptocurrencies).
- Lack Of Effective Financial Regulation.
- The MetaTrader4 Platform Is Not Available.
- Webinars : Helps Traders Improve Their Trading Skills.
- Guides And Tutorials : Covers A Wide Range Of Topics, Including How To Trade Forex And Use The Trading Platform.
- News Blog : Provides Market Analysis And Commentary On Major Events.
- No Advanced Educational Resources Or Field-specific Training Are Provided.
- All Educational Resources Are In English And May Pose A Barrier For Non-English Speaking Traders.
- Demo Accounts Are Not Provided, Making It Impossible For Traders To Practice Trading Skills Without Risk.
Support Hours : FxCitizen Provides Customer Support 24 Hours A Day, 5 Days A Week .
Personal Agent : A Personal Agent Is Assigned To Each Account To Provide Personalized Service.
Disadvantages :
Technical Infrastructure
Trading Platform : FxCitizen Provides Only The MetaTrader5 Trading Platform, Which Supports Multiple Tools And Features.
Technical Support : No Specific Information On The Technical Infrastructure Is Provided, But The Stability And Functionality Of MetaTrader5 Are Generally Considered Reliable.
Compliance And Risk Control System
Compliance : FxCitizen Does Not Have Any Financial Regulatory License And Is Not Currently Under The Supervision Of Any Regulatory Authority.
Risk Management : As A Market Maker, FxCitizen's Sources Of Profit May Lead To Potential Conflicts Of Interest.
No Other Risk Management Measures Are Provided : No Detailed Market Risk, Operational Risk Or Other Risk Management Measures Are Provided.
Market Positioning And Competitive Advantage
Target Market : FxCitizen Is Positioned To Serve Beginners And Experienced Traders , Offering Flexible Leverage And Low Deposit Requirements.
Competitive Advantage :Disadvantages :
Customer Support And Empowerment
Educational Resources : FxCitizen Offers The Following Educational Resources:
Lack Of Resources :
Social Responsibility And ESG
Social Responsibility : No Information Is Provided On Social Responsibility Or ESG For FxCitizen.
Industry Contribution : No Specific Contribution To The Industry From FxCitizen Was Provided.
Strategic Collaboration Ecosystem
Partnerships : No Information Was Provided On Any Significant Strategic Collaborations With FxCitizen.
Openness Of The Ecosystem : No Information Was Provided On Whether FxCitizen Collaborates With Other Technology Providers Or Financial Services Institutions.
Financial Health
Financial Health : No Details Were Provided On FxCitizen's Financial Health Or Management Size.
Future Roadmap
Development Plan : The Future Development Direction Or Improvement Plan Of FxCitizen Is Not Clear.
Summary
FxCitizen Is An Online Forex Broker That Offers Trading In A Variety Of Financial Instruments, With Flexible Leverage And Low Deposit Requirements. With Its MetaTrader5 Trading Platform And A Variety Of Payment Methods, FxCitizen Has Certain Advantages When Serving Beginners. However, As A Unregulated Market Maker , Its Potential Conflicts Of Interest And Lack Of Transparency May Affect The Trust Of Its Clients. Traders Are Advised To Fully Understand Its Advantages And Disadvantages And Evaluate Their Own Trading Needs And Risk Tolerance Before Choosing FxCitizen.
