FXCM is regulated by several top tier agencies across the world. One of the oldest forex brokers, FXCM dates back to 1999 and is currently owned by Jeffries, a publicly traded company. FXCM offers the most popular Forex trading platform, namely MetaTrader 4.

A currency pair combines two different currencies, with the value of one currency quoted against the other. For example EUR/USD, which reflects the value of the euro measured in dollars. Trading Station web is well designed, customizable and relatively easy to navigate.

Minimum Deposits and Funding Methods

Their relationships with tier 1 banks and non-bank liquidity providers, prime broker relationships, and technology vendors can provide customers with market access on an unrivalled scale. Also, MetaTrader 4 users can automate their trading using “expert advisor” or EA software they can program themselves or obtain from third parties. FXCM is a zero commission broker that offers very competitive dealing spreads on CFDs and forex currency pairs. If you trade a notional amount of over $10 million per month, you qualify for a rebate for the trades you placed that is credited directly to your trading account the following month.

Thanks to its combined offering of both Trading Station and MetaTrader 4 , FXCM delivers a reliable, feature-rich mobile experience for forex traders. FXCM offers a great range of educational tools, such as educational videos and webinars. Demo accounts are also available, but only for a limited set of countries. We tested the credit card withdrawal and it took more than 3 business days.

FXCM’s proprietary Trading Station platform is compatible with iOS and Android mobile devices. Standard accounts come with no commissions and low spreads starting at 1.3 pips. Some accounts offer a commission-and-spread model whereas Active Trader accounts come with ultra-tight spreads (from 0.2 pips) and discounted commissions ($25 per $1 million traded). Another important aspect of online trading that you shouldn’t ignore — offered by FXCM and every regulated Forex broker — is negative balance protection.

It also offers APIs support backed by complex algorithms and automated trading strategies. FXCM exclusive content includes YouTube videos showcasing analysts highlighting trending markets and signals like the price movement of popular currency pairs. Apart from the regularly updated market news, the broker also features study material for new traders, walking them through the dynamics of trading Forex and CFD, spread betting, etc. The real account consists of the standard account and the active trader account. Typically, a standard account enables users to trade 24/7 with free access to the broker’s official website.

Simply put, you can open and close positions without having to worry about trading commissions. Consequently, the trading fees are included in the variable spread, which fluctuates throughout the day based on the overall market https://forexarena.net/ conditions. Some assets have lower spreads than others, so this is something you need to consider when placing orders. Powerful Trading PlatformsFXCM offers multiple platform options to cover the needs of each type of trader.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 69.66% of retail investor accounts lose money when trading CFDs with this provider. Beginner traders are encouraged to register with the Mini account, which requires a minimum deposit of $50. This account type adopts a market maker model and has spreads starting from 1.5 pips. While the mini-account pricing is not the best in the industry, the comprehensive educational resources and tools that this broker provides make it a good fit for beginners. As FXCM supports a wide range of trading platforms and features, both beginner and experienced traders will find that this online broker has a lot to offer to help meet their trading needs and goals.

FXCM Reviews

It’s worth mentioning that your trading account balance must meet a threshold to access certain educational content. With its wide range of available platforms and deep offering of trading tools, FXCM has set the bar high and competes among the best brokers in the industry. Whether you are a beginner or an advanced algorithmic trader, FXCM has plenty of options. In our 2023 Annual Awards, FXCM finished Best in Class for its excellent Platforms and Tools.

Through our efforts in the leadgen campaigns for forextraders.com, we’ve been finessing the nurturing process through a CRM. We see this working holistically, pulling in the audiences built from social media, PPC and organic traffic and segmenting them out in order to best maximise their individual potential. FXCM caters to most traders from its CFD account type, with the primary difference being by regulatory jurisdiction. I like that FXCM invested heavily into its algorithmic trading environment, and I rank it among the industry leaders in this category. After having completed the application you will be given your login credentials.

Popular Forex Guides

Fill in your personal data such as country of residence and email address, then press continue. Commodities are raw materials and their prices are generally influenced by global supply and demand. Precious metals like gold and silver increase in price in times of high inflation as the demand for gold increases to hedge against inflation. Although it soon became the largest retail Forex broker globally, due to certain regulatory issues, FXCM’s US operations were permanently banned in February 2017.

• FXCM offers a limited selection of CFDs, and its offering of exchange-traded securities was recently discontinued.
• This is relatively low compared to the industry average of 0.7 pips.
• We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
• While a broad range of markets are available, some instruments such as bonds, exchange traded funds and options are not available.
• There are beginner friendly platforms, pro trading platforms and social trading platforms.
• However, potential traders should be cautious when trading leveraged products as you can lose your entire capital.

This shows whether you should buy or sell, based on technical indicators like RSI or MACD. You can only deposit money from accounts that are in your name. To have a clear overview of FXCM, let’s start with the trading fees. To read much more details about the broker’s services and features, expand on the sections below.

You can also use a social trading platform to copy the transactions of other traders in your own account in real-time. The broker’s proprietary Trading Station platform is available for iPhone and Android mobile devices. The app features a simple, intuitive interface for entering orders and receiving confirmations, as well as powerful trading tools and charts with access to research. FXCM also supports the popular MetaTrader4 trading platform, so you can download the MT4 mobile app that is also available for iPhone and Android.

The rating system provides a clear picture of how well your broker fulfills this service. FXCM also offers a demo account to help users practice trading without risk and Islamic accounts that adhere to the principles of Sharia law. Spreads are far more competitive when using an active trader account, as low as 0.2 in EUR/USD and 0.6 in GBP/USD, but a commission is also charged. FXCM provided strong customer support in our tests, with fast responses to phone, chat and email inquiries. We asked questions like ‘does FXCM offer crypto to UK clients?

The company’s portfolio includes CFDs of indices, commodities, forex and cryptocurrencies. Alongside the CryptoMajor basket, there are two other types of baskets that allow traders to speculate on collective products’ performance in the market. In a section labeled ‘insights’ FXCM provides a range of in-depth articles covering themes related to the global economy, trading strategies, technical indicators and a glossary. When opening an account with the Forex Capital Markets Limited entity we had to fill out a brief Know Your Customer questionnaire. KYC aims to ensure that brokers understand the clients’ risk tolerance, investment knowledge, and financial position.

Deposits and Withdrawals

Additionally, there are easy-to-understand guides for novice traders available on the broker’s web page. FXCM is a multi-asset group of brokerage companies operating around the globe. FXCM group has more than 20 years of experience and offers various trading instruments to its clients.

FXCM Overall Ranking is 7.9 out of 10 based on our testing and compared to other brokers due to its great conditions, see our Ranking below compared to other popular and industry Leading Brokers. Most deposit methods take up to 1 business day to complete however bank wire can take 1-5 working days. FXCM has a knowledge section that consists of research or market analysis tools and education. If you prefer to place orders by phone, FXCM offers a trading desk line that can be handy should you experience an interruption in your internet connection.

Automated trading solutions often require a VPS service to operate effectively around the clock. FXCM offers two VPS solutions, charged at $30 or a currency equivalent per month. Traders who exceed $500K notional trading volume for three consecutive months will get the fee reimbursed. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.

The list includes Forex, CFDs on stocks, indices, commodities, cryptocurrencies, CryptoMajor basket, Forex baskets, and stock baskets. Compared to its contemporaries, the FXCM trading platform is one of the very few regulated brokers with physical offices worldwide. Thus, users can reach them via the means mentioned above or directly visit their nearest office.

FXCM offers mobile trading via their proprietary Trading Station Mobile app. As alternatives, traders can also use the MetaTrader 4 mobile app and the ZuluTrade mobile app for copy trading. For example, FXCM clients in the United Kingdom benefit from the oversight fxcm broker review of the FCA. The FCA requires that clients have negative balance protection, which means that they cannot lose more than their deposit. Client funds must be held in segregated accounts, which are protected in the event of a broker going bankrupt.

We were privileged to have the opportunity to serve you, iliya! You can place your trades in a secure environment since FXCM is licensed and regulated by several regulators. All you need to do is click on the “create account” button, select your country of residence, and complete the required steps including the KYC procedure.

Thus, having sound knowledge of trading CFD and the risks involved is imperative to buy and sell CFDs. In this FXCM review, we have provided complete information on FXCM for educational purposes and must not be treated as investment advice. For algorithmic trading, the broker’s app store provides many technical indicators, automated trading robots, and add-ons.