fxcl markets
Velocity Trade
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Overview
fxcl markets was founded in 2006 and is headquartered in Cayman Islands, while Velocity Trade was established in 2007 and is based in Australia. fxcl markets holds licences including Financial Services Authority (FSA) number 1637, while Velocity Trade is regulated by Australian Securities & Investment Commission (ASIC) among others. fxcl markets serves 10,000+ clients worldwide; Velocity Trade has 10,000+. The minimum deposit is $250 at fxcl markets and $1 at Velocity Trade.
| Feature | fxcl markets | Velocity Trade |
|---|---|---|
| Min. Deposit | $250 | $1 |
| Regulation | Financial Services Authority (FSA) number 1637 | Australian Securities & Investment Commission (ASIC), BaFIN (German Federal Financial Services Authority ID: 10159853), Financial Markets Authority (FMA) of New Zealand, Financial Sector Conduct Authority of South Africa (FSCA) FSP No. 43295, Financial Conduct Authority (FCA Registered Number 497263) |
| Founded | 2006 | 2007 |
| Country | Cayman Islands | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between fxcl markets and Velocity Trade, directly affecting your bottom line as a trader. Velocity Trade has a lower barrier to entry with a minimum deposit of $1 (vs $250 at fxcl markets). Neither broker charges withdrawal fees. Velocity Trade applies inactivity fees on dormant accounts; fxcl markets does not. Overall, Velocity Trade scores higher on fees in our assessment.
| Feature | fxcl markets | Velocity Trade |
|---|---|---|
| Min. Deposit | $250 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
fxcl markets offers MT4, MT5, cTrader, while Velocity Trade supports MT4. Both brokers provide mobile trading apps for iOS and Android. fxcl markets supports social and copy trading features, which Velocity Trade does not offer. fxcl markets edges ahead on platform breadth and functionality in our scoring.
| Feature | fxcl markets | Velocity Trade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | No |
| cTrader | Yes | No |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Mobile Apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how fxcl markets and Velocity Trade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | fxcl markets | Velocity Trade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. fxcl markets accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while Velocity Trade supports 2 (bank transfer, credit/debit card). fxcl markets uniquely supports PayPal and Skrill and Neteller among the two brokers. fxcl markets scores higher on deposit and withdrawal flexibility.
| Feature | fxcl markets | Velocity Trade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both fxcl markets and Velocity Trade offer live chat support. Both provide phone support. Email support is available at both brokers. fxcl markets supports 8 languages and Velocity Trade supports 2, giving fxcl markets broader global reach. Both brokers are comparable on support quality.
| Feature | fxcl markets | Velocity Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, and Chinese |