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.
Company Information
Website
www.fxcm.com
Established
1999
Country
Australia, Canada, Chile, France, Germany, Hong Kong, Israel, Italy, Japan, South Africa, United Kingdom and United States
Regulation
ASIC 309763
CONSOB (Italy), 76
CySEC, 392/20
DMCC (Dubai), 31171
FCA (UK), 217689
ISA (Israel), 2
SFC (Hong Kong), AIM232
ESMA
Features
Interest rate on funds
Free education
Trading by telephone
PAMM accounts
LAMM accounts
Segregated accounts
Managed accounts
Requires sending documents via postal mail
Vps
Account Information
Apart from the forex demo account, this broker offers Standard, Mini, Standard (FXCM Markets) and Premium (FXCM Markets). 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
If you want to look for a more simple explanation regarding this broker's account type(s), take a loot at the following chart:
Minimum Deposit
$1
Maximum Leverage
1:400
Spread
Fixed
Commission
$4
Minimum Deposit $5000
Minimum 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, 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:
Minimum Deposit $50
Minimum Position 0.01 lot
Spread Fixed
Scalping
Expert Advisors
Hedging
Trailing stop
Pending orders
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, 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:
Minimum Deposit $1
Minimum 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 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:
Minimum Deposit $20000
Minimum 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 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:
Payment Methods
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.
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.
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.
FXCM also provides payment with Credit/debit cards
Trading Platforms
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.
Hereby, FXCM offers you MetaTrader 4 (Limited with 30 days), Trading Station II (Limited with 30 days), MirrorTrader and NinjaTrader.
Customer Support
Do you have any question or find any trouble related to FXCM? If you do, you should reach FXCM's support to get the information that you need. Here is the detail of the broker's customer support:
Website Languages
Office
Support
Email
Support
Call
Support
Chat
Support
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 , Gold & silver , CFD , Oil , Indexes , Agriculture , 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.
Khaerul Anshar
This review is not supported by evidence
Apr 9 2021
nice broker
Yutian Hao
This review is not supported by evidence
Sep 8 2020
I wonder how I got so many phone call after registering woth FXCM. Seems like they are selling customer personal details. Beware guys.
Valentino Yang
This review is not supported by evidence
Sep 7 2020
They never accept my account and when I ask for my deposit back was completely ignored had to file a dispute with my bank. Stay away scammer brokerage.
Whiplash
This review is not supported by evidence
Sep 7 2020
First, the price is far, very far from the real price and that's making everything false. Also, this broker is very very slow when it comes to support. They're only good when it comes to deposit funds and after that you get no support.
Deposits are half of the time rejected for no reasons.
Very bad experience, wouldn't recommend it.
Jeremy Sullivan
This review is not supported by evidence
Sep 4 2020
Decent broker, decent trade platform, had some service issues with them and would rate them as an average company.
Bernard L
This review is not supported by evidence
Sep 4 2020
No issues with withdrawals and fast execution. I like the mobile app.
Willhelm Collins
This review is not supported by evidence
Sep 4 2020
I'm not a fan of FXCM demo account. They almost don't have support on the desk session. Many times they are overloaded so I must wait like around 20 minutes to get answered.
Fitez Clavench
This review is not supported by evidence
Sep 4 2020
FXCM spreads are not really that interesting, but I always have my money when I request a withdrawal. Tahye are dependable and seems to be the best broker out there.
Daniel Arledge
This review is not supported by evidence
Sep 4 2020
Overall FXCM are worth using. But their website interface need to be updgraded. Also their spread could be have better offer.
Sasha
This review is not supported by evidence
Sep 4 2020
They are actually a decent broker. But extra fees are too much for small traders and will take away your profit.
Ben Joseph
This review is not supported by evidence
Sep 4 2020
I've been an active traders since 5 years ago and not long until I joined FXCM. I have the different experience since I got email from them that my account had been terminated without reason. This is the worst example on how you treat your customer.
Davey
This review is not supported by evidence
Sep 4 2020
No complaints about this broker. Does what it says on the tin. Spreads are decent.
No deposit and withdrawal fees are always good to see and the customer service is very helpful.
Zyclone
This review is not supported by evidence
Sep 4 2020
Excellent broker. I've never had problems withdrawing funds, everything works very well with its original Marketscope 2.0 platform, it's super complete and very efficient. They don't have limitation for pending orders too.
Tc333
This review is not supported by evidence
Sep 4 2020
I have traded with FXCM for a long time and although there have been a few issues, overall they have been good. I have traded almost every day in that time. But recently when I placed a trade on the NZD/JPY at the price that was displaying on the FXCM trading station platform, I noticed nothing happened and it went into pending. I then check ed the charts to see that the price was vastly different to that which the trading station was reading, something like an 80 pip difference, I tried several times to cancel the trade whilst it was pending, but the system would not do that. I was really disappointed with the way they handle my complain. I have recommended 6 others to the company over the years as I have always trusted them, but the way they dealt with this issue was really poor.
Basem4115
This review is not supported by evidence
Sep 4 2020
I do respect all the opinions about this company even the negative ones, but in fact my experience was and still very good with them. My first account was in 2011 (UK Branch) and since then I leave for year or more and come back to the same company many times with ease. I lost money many time but it was my fault and lack of experience. I even recommended this broker to many friends of mine and no one faced any difficulties to withdrawal or even close their accounts. I wish all of you good trading and thanx FXCM.
Annie Bonnie
This review is not supported by evidence
Sep 4 2020
I have made a deposit of $1000 when my usable margin dropped to 50% in order to avoid margin call by credit card. Normally it will appear in my account immediately due to FXCM website. However, this time it has never come. When I contacted FXCM customer support, they informed me that the new system will take few hours to 1 day for the fund to come, which hasn't been informed on the website nor email.
After that, they kept transferring me around and promised to ask the operation team to expedite my deposit.
BMTraders
This review is not supported by evidence
Sep 2 2020
My account is still locked since my first deposit, nobody replies my emails, I want my money back.
Clara
This review is not supported by evidence
Sep 1 2020
This company is as bad as its sound. I lost more than 40K with them and they never refund me. Don't deposit or trade there you'll loose big time.
MS Asad
This review is not supported by evidence
Aug 29 2020
Good spreads withdrawl little delayed though, But got an apology call for the same so it is ok.
Eric S
This review is not supported by evidence
Aug 25 2020
Bad broker and has terrible trading conditions. Stay away everybody is staying away from them here in the USA.
Rachmidah Wanda
This review is not supported by evidence
Aug 23 2020
Hi i trade with fxcm close to 1 year now ! everything good ! one thing i don't like with fxcm is withdrawal time take between 2 days and 5 days that just to much !
i hope fxcm make withdrawal time faster.