FXCM Review

FXCM is a well-established broker since 1999. FXCM has headquarters in Australia, Canada, Chile, France, Germany, Hong Kong, Israel, Italy, Japan, South Africa, United Kingdom and United States. They are generally well-suited for FXCM to provide their Forex/CFD trading services to global clients.

This broker has also been regulated by ASIC 309763, CONSOB (Italy) 76, CySEC 392/20, DMCC (Dubai) 31171, FCA (UK) 217689, ISA (Israel) 2, SFC (Hong Kong) AIM232 and ESMA.

Account Information

Apart from the forex demo account, this broker offers Premium (FXCM Markets), Standard (FXCM Markets), Standard and Mini. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by FXCM is up to 1:400. Meanwhile, you can open an account with a starting capital of $1.

Min Deposit

$1

Max Leverage

1:400

Spread

Fixed

Commission

$4

If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:

• Premium (FXCM Markets)
• Standard (FXCM Markets)
• Standard
• Mini

💲 Min Deposit $20000

💡 Min Position 0.01 lot

🔢 Spread Fixed

📉 Scalping

🤖 Expert Advisors

💱 Hedging

💻 Browser-based platform

⚡ Automated trading

Instruments Traded

Besides lots of currency pair, FXCM also offers some instruments you would like to trade on, such as Forex, CFD, Stocks and Agriculture for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for Premium (FXCM Markets) account, FXCM specifically provides it with the following instruments and leverage:

Forex
1:100

CFD
1:200

Stocks
1:10

Agriculture
1:10

💲 Min Deposit $1

💡 Min Position 0.01 lot

🔢 Spread Fixed

📉 Scalping

🤖 Expert Advisors

💱 Hedging

💻 Browser-based platform

⚡ Automated trading

Instruments Traded

Besides lots of currency pair, FXCM also offers some instruments you would like to trade on, such as Forex, CFD, Stocks and Agriculture for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for Standard (FXCM Markets) account, FXCM specifically provides it with the following instruments and leverage:

Forex
1:400

CFD
1:200

Stocks
1:10

Agriculture
1:10

💲 Min Deposit $5000

💡 Min Position 0.01 lot

🔢 Spread Fixed

📉 Scalping

🤖 Expert Advisors

💱 Hedging

⏳ Pending orders

⚡ Automated trading

Instruments Traded

Besides lots of currency pair, FXCM also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Oil, Stocks, Indexes, Agriculture, Spread betting and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for Standard account, FXCM specifically provides it with the following instruments and leverage:

Forex
1:50

Gold & silver
1:50

CFD
1:50

Oil
1:50

Stocks
1:63

Indexes
1:400

Agriculture
1:10

Spread betting

Cryptocurrencies
1:2

💲 Min Deposit $50

💡 Min Position 0.01 lot

🔢 Spread Fixed

📉 Scalping

🤖 Expert Advisors

💱 Hedging

⏱ Trailing stop

⏳ Pending orders

1️⃣ One-click trading

📱 Mobile trading

⚡ Automated trading

Instruments Traded

Besides lots of currency pair, FXCM also offers some instruments you would like to trade on, such as Forex, CFD, Stocks, Agriculture and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for Mini account, FXCM specifically provides it with the following instruments and leverage:

Forex
1:50

CFD
1:30

Stocks
1:46

Agriculture
1:10

Cryptocurrencies
1:2

Payment Methods

Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.

Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.

Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.

FXCM also provides payment with Credit/debit cards

Extensive Review

FXCM (Forex Capital Markets) is a brand name of a retail broker for trading on the financial market, especially the foreign exchange market. The broker was founded in 1999 and was originally headquartered in the United States. After a series of lawsuits from customers and case settlements by the US regulator (CFTC), FXCM moved from the US and became a UK-based broker, authorized and regulated by the Financial Conduct Authority (registration number 217689).

Trading with FXCM is supported by enhanced execution with the Liquidity providers' stream pricing through the FastMatch Electronic Communication Network.

FXCM works with several global banks, financial institutions, and other market makers as their Liquidity providers including Barclays Bank, Citadel Securities, Citibank, Deutsche Bank, FASTMATCH, XTX Markets Limited, UBS, Morgan Stanley, Commerzbank, and Jefferies Financial Services.

This, in turn, enables FXCM to present its clients with fast trade execution, competitive spreads, low negative slippage, no re-quotes, no stop/limit restrictions, and up to 89% of orders are executed at the requested price or better.

For the trading platform, FXCM is remarkably known for its proprietary product called Trading Station. The latest version of this platform's web display is claimed to be built in Mac Friendly HTML5. It features a range of trading appliances such as integrated news, economic calendar, FXCM's top trading tools, social trading functionalities through FXCM Cloud, customized trading analytics, automated strategies, and advanced charting for better analysis. For flexible traders who prefer trading on-the-go, FXCM has also provided Trading Station in mobile version, both for iOS and Android users.

However, the company's in-house platform is not the only option presented for clients. FXCM also gives the choice to use MetaTrader 4 for clients who are more familiar with MetaQuote's product. Also, ZuluTrade access is enabled for clients with keen interests in copy trading schemes that transcend across brokers.

Instead of classifying account types based on minimum deposits, FXCM chooses to offer trading accounts based on the instruments traded. For FX traders, this broker provides Active Trader and Institutional accounts.

Active Trader is the ultimate account type for retail traders with two-tier pricing. Tier 1 applies a minimum deposit of $25,000 with a $30 commission for 1 million volumes traded, while Tier 2 has no detail on deposit requirement but gives better fee conditions. Spreads in both tiers start from 0.2 pips.

Institutional account, also known as FXCM Pro, is marketed as a wholesale execution and liquidity solution for retail brokers, hedge funds, and emerging market banks. The account presents trading spreads from 0.1 pips and other competitive benefits like API solutions as well as prime brokerage services.

For non-FX traders, FXCM provides a CFD trading account with low spread costs from 0.37 pips (in XAU/USD) and a wide range of class assets from precious metals, soft commodities, and indices.

Last but not least, a collection of in-depth articles is provided to help traders' knowledge and insights on the forex market. Trading tools like FXCM Plus, Market Scanner, Trading Signals, and Technical Levels are also developed to support traders who open accounts in FXCM .

In conclusion, FXCM is an experienced retail broker with a lot of "ammunition" to help traders with its best version of execution, pricing, and tools. It is a well-regulated broker backed with a long history in the financial market, even though it has a dark history in the United States' brokerage industry.

Still, the relatively high standard on minimum deposit ($25,000) puts FXCM as a broker suitable for experienced traders with good money management. It is not recommended for new traders with limited capital.

FAQ About FXCM

Is FXCM a good broker?

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if FXCM is a good broker for you or not by reviewing the criteria. In general, FXCM provides trading service in Forex , CFD , Stocks , Agriculture , Gold & silver , Oil , Indexes , Spread betting and Cryptocurrencies . As for the payment methods, you can choose between Credit/debit cards, Neteller, Skrill and Wire transfer. The customer support is available via Email, Live chat and Phone.

What is the minimum deposit for FXCM?

The starting capital in FXCM is $1.

Is FXCM regulated?

FXCM is regulated by ASIC 309763, CONSOB (Italy) 76, CySEC 392/20, DMCC (Dubai) 31171, FCA (UK) 217689, ISA (Israel) 2, SFC (Hong Kong) AIM232 and ESMA. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.

Is FXCM legit?

FXCM is a brokerage company offering trading services for clients since 1999 with offices in Australia, Canada, Chile, France, Germany, Hong Kong, Israel, Italy, Japan, South Africa, United Kingdom and United States.