fxcl markets
Westpac
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Overview
fxcl markets was founded in 2006 and is headquartered in Cayman Islands, while Westpac was established in 2008 and is based in Austrailia. fxcl markets holds licences including Financial Services Authority (FSA) number 1637, while Westpac is regulated by Financial Conduct Authority (FCA) among others. fxcl markets serves 10,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is $250 at fxcl markets and $50 at Westpac.
| Feature | fxcl markets | Westpac |
|---|---|---|
| Min. Deposit | $250 | $50 |
| Regulation | Financial Services Authority (FSA) number 1637 | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) |
| Founded | 2006 | 2008 |
| Country | Cayman Islands | Austrailia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between fxcl markets and Westpac, directly affecting your bottom line as a trader. fxcl markets has a lower barrier to entry with a minimum deposit of $250 (vs $50 at Westpac). Neither broker charges withdrawal fees. Westpac charges deposit fees; fxcl markets does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | fxcl markets | Westpac |
|---|---|---|
| Min. Deposit | $250 | $50 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
fxcl markets offers MT4, MT5, cTrader, while Westpac supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | fxcl markets | Westpac |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | Desktop,Mac,iPhone,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how fxcl markets and Westpac 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 | Westpac |
|---|---|---|
| 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 Westpac 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 | Westpac |
|---|---|---|
| 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 Westpac offer live chat support. Both provide phone support. Email support is available at both brokers. fxcl markets supports 8 languages and Westpac supports 2, giving fxcl markets broader global reach. Both brokers are comparable on support quality.
| Feature | fxcl markets | Westpac |
|---|---|---|
| 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 |