FXCM Review


FXCM is a well-established broker since 1999. FXCM has headquarter 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, DMCC (Dubai) 31171, FCA (UK) 217689, ISA (Israel) 2 and SFC (Hong Kong) AIM232. Simple yet detailed information upon this broker can be seen below.


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
DMCC (Dubai) 31171
FCA (UK) 217689
ISA (Israel) 2
SFC (Hong Kong) AIM232

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

This broker offers Active Trader, 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 further information about this broker's offered account(s), please take a look at the list below.


Minimum Deposit

$1

Maximum Leverage

1:400

Spread

Variable and Fixed

Commission

$4


Minimum Deposit $25000

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Trailing stop

Pending orders

One-click trading

Browser-based platform

Trading via API

Instruments Traded

Besides lots of currency pair, FXCM also offers some instruments you would like to trade on, such as Forex and Spread betting 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.


Forex
1:50

Spread betting


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.


Forex
1:50

Gold & silver
1:50

CFD
1:50

Oil
1:50

Indexes
1:400

Agriculture
1:10

Spread betting

Cryptocurrencies
1:2


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.


Forex
1:50

CFD
1:30

Agriculture
1:10

Cryptocurrencies
1:2


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.


Forex
1:400

CFD
1:200

Agriculture
1:10


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.


Forex
1:100

CFD
1:200

Agriculture
1:10

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 paymen 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

Arabic
Chinese
English
French
German
Greek
Hebrew
Italian
Portuguese
Spanish
Swedish

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).

In providing services for clients, FXCM puts great importance on enhanced trading execution supported by 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 the MetaQuote's product. Also, ZuluTrade access is enabled for clients with keen interests in copy trading schemes that transcends 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 solutions 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, FXCM presents a collection of in-depth articles 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' analysis.

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.


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