Demo Account Guide
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FXMAX Or FCXM? Which One Is Real?


Andre Sitohang

Jul 10 2020 12:43

Which one is the real FCXM? FXMAX or FCXM? Because both have the Indonesian website


Anya Watson

Jul 12 2020 01:49

Hi Andre Sitohang, 
As far as I know, FXmax is a white label representative for FXCM in Indonesia. You can trade via FXMAX or directly to FXCM. But if you trade at FXCM US You will be treated as a client from America, you must be using FIFO (First In First Out) rules and hedging is not allowed. Apart from that, you can also trade at FXCM Australia which was previously IBFX Australia (acquired by FXCM since September 2014).

You can trade at FXMAX because it has support facilities in Indonesia and is not subject to regulations like clients in the US. For your deposit, transfer it directly to FXCM New York, not on your FXMAX account, so it will be safe.


Regina

Jul 14 2020 09:53

There is another FXCM representative in Indonesia, namely Forexbrokerpro, the account will automatically connected with FXCM UK, no dealing desk, and use a segregated account so it's safer. If FXMAX seems to have entered the account into FXCM markets with a dealing desk and there is no segregated account because transferring the deposit to FXCM markets. 


Anya Watson

Jul 15 2020 09:55

Hi Regina,
Regarding execution at FXCM, as far as I know, there are 2 models, dealing desk (DD) and non-dealing desk (NDD). This applies to both FXCM Markets USA and FXCM Ltd UK. The method of execution depends on the type of account. For standard account types, with funds between USD50 up to USD20,000, the execution is by dealing desk (DD), while for premium account types with funds above USD 20,000 the execution is by means of the non-dealing desk (NDD). Thanks


Chris

Jul 23 2020 09:57

I have a trading account at FXCM, open it through Forexbrokerpro, I got a premium account and the execution is also no dealing desk even my deposit is about $200, so I don't have to deposit $20,000 for a premium account.


Anya Watson

Jul 24 2020 08:41

Hi Chris,
That's true, It happens because the competition between brokers is getting tighter. According to the information I got, this Forexbrokerpro is an IB from FXCM Ltd UK, with a minimum deposit USD100, the execution is no dealing desk (NDD), and the most important is the account is equivalent to a premium account and goes to a segregated account (separate account) at FXCM UK, and can having swap-free features. The method of depositing and withdrawing is also by wire transfer, so I think it is quite safe trading at this IB.