- English
- Svenska
- العربية
- Deutsch
- Suomi
- فارسی
- Español
- Eesti
- اردو
- Français
- Latviešu
- 日本語
- Italiano
- Lietuvių
- 한국어
- Nederlands
- Srpski
- 中文简体
- Polski
- Slovenský
- 中文繁體
- Русский
- Slovenščina
- বাংলা
- Português
- Ελληνικα
- ភាសាខ្មែរ
- Magyar
- Български
- ລາວ
- Română
- Монгол
- BahasaIndonesia
- Hrvatski
- Українська
- BahasaMelayu
- Čeština
- ქართული
- ภาษาไทย
- Dansk
- Türkçe
- TiếngViệt
- Norsk
- עִבְרִית
FXCM Review
FXCM general information
Founded in: | 1999 year |
Headquarters: | USA |
Offices in the country: |
Australia, United Kingdom, Germany, Hong Kong, Greece, Italy, USA, France |
Minimum Deposit: | 0 $ |
Website: | www.fxcm.com |
Website languages: |
English, Arab, Vietnamese, Greek, Ivrit, Indonesian, Spanish, Italian, Chinese, Deutsch, Philippine, French |
Execution model: | NDD |
Deposit currency: | USD, EUR, GBP, AUD, CHF, CAD, NZD |
Support languages: | English |
Regulated by: |
ASIC (Australia) license №AFSL 309763 FCA (United Kingdom) license №217689 |
Mobile trading: | iOS, Android |
Types of offered accounts: |
Unlimited Demo Accounts, Standard Accounts, Micro accounts |
Affiliate program: | Not |
FXCM Forex broker description
FXCM is a United Kingdom-based forex broker. FXCM was formed in 1999 and until recently it had its headquarters based in New York City in the USA. It moved its offices to the United Kingdom where it now runs its operations. Being a UK-based brokerage company, you can be sure that the firm is well-regulated and your funds are secure with the broker. This is due to the strict regulations espoused by The Financial Conduct Authority, which is the main regulatory body of all financial firms based and operating in the UK.
Trading Accounts
FXCM offers its many clients different types of accounts that will allow them to trade effectively according to their preferences. An account will allow you access to the online site of FXCM and you will be able to view the various trading instruments and you can pick the one that you want to execute trades on. Among the different trading account types that FXCM offers are the free trading station demo account and the standard trading account.
The FXCM Free Trading Station Account
The free trading station account, also referred to us the risk-free trading account is a special account that has been designed for use by inexperienced traders. This account type is a demonstration account and will lead the trader through the steps of trade execution. The trader will not be required to deposit any funds as they will use virtual funds provided in the account as well as simulated trading conditions. This account type is also meant for traders who want to refresh their skills in trading.
Its features are:
- $50000 in virtual money to trade.
- Live buy and selling prices.
- You can trade at any time of the day for the whole week.
The Standard Trading Account
The standard trading account is Meta Trader 4 trading account and is the basic account type in FXCM. It is suitable for both experienced and novice traders. Among the features of this account type are:
- The base currency is the United States dollar.
- Offers a vast range of trading instruments from indices, CFDs, commodities, currencies, and metals.
- 24 hours trading.
- Allows for scalping.
- Stop out at 100%
- Instant execution.
- Floating spread type.
- No commissions are charged at all.
A bout The Company and Security Of Funds
As earlier indicated, FXCM was founded in 1999 and had its offices in New York City. It moved the offices to the European economic and financial hub of London. Its success I the forex trade has seen it grow in leaps and bound and it has managed to expand to many other territories and countries. Among the countries where it has its offices are South Africa and Australia with plans to expand to more in the future.
FXCM has a niche of proper location and its previous location in New York gave it some push where it was able to benefit from the economic vibrancy of the region. In London, it is the same case and will have the best and competitive trading conditions that are sure to enhance a client's trading experience.
The company has also made a great bid in investing in the required workforce full of qualified and dedicated personnel. They work round the clock to ensure that clients have the best experience and will answer all their queries brought forward.
The company is legitimate and this is seen by its clean bill of operation and they also have the licenses for this. It has received this licensee from the legal regulatory bodies in the respective territories where it runs its operations.
The licenses that FXCM has on its possession include the following.
- A license to operate in the united kingdom by UK's financial conduct authority (FCA).
- It is licensed to carry out its operations in South Africa by the financial sector conduct authority (FSCA)
- A valid license from Australia’s Australian securities and investment commissions (ASIC) which has granted FXCM a pass to carry out its operations in Australia.
Those are among the licenses that it has under its possession. These licenses come with strict rules and regulation that are meant to keep the company in check. Among the aspects with the most consideration is in dealing with clients' funds where they need to be safe. Among the measures put forward by FXCM for this include:
- Segregation of clients and company’s funds.
- Negative balance protection.
- Depositing the funds with legitimate banks.
Trading Conditions
Commissions
No commission is charged at all on trading at FXCM.
Spreads
It offers tight floating spreads.
Leverages
Leverages of 1:100 in forex trading.
Trading Platforms
FXCM uses among the advanced trading platforms for the efficient trading experience. These platforms are the trading station platform, the Ninjatrader platform, and the Meta trader4 platform.
The Trading Station Platform
The trading station platform is a versatile platform suited for traders around the world. Its features include:
- Powerful charting tools.
- Has automated strategies in trade execution.
- Has advanced analytic tools.
- Has both the web, desktop, and mobile versions.
The Ninjatrader Platform
The Ninjatrader platform is another trading platform that FXCM uses. Among its features are:
- Market analyzer and market replay.
- Runs the demo account.
The Metatrader4 Trading Platform
The metatrader4 trading platform is a popular trading platform among traders. Among its many features are:
- Advanced charting and analytical tools.
- Offers both market and instant executions.
- Allows for hedging and scalping.
- Allows for automated trading.
- Available for web, desktop, and mobile.
Promotions
FXCM is concerned with the customer experience and works very hard to ensure that. Among the practices put in place for this enhanced experience are promotions and offer. Currently, FXCM runs the friends and family referral promotion where you will both get a bonus.
Withdrawals And Deposits
Withdrawals and deposits are easy to initiate in the transaction. FXCM accepts various modes of payment from debt and credit card to bank transfer. The process is quick and the results are instantaneous with an exception of bank transfers where to reflect it may take 3-5 business days
- Some charges may be incurred during withdrawals depending on currency and amount.
BRIEFLY ABOUT FXCM
To see how lucrative this trader is I would first suggest you take a peek at FXCM customer reviews and comments. Here you will have a glance at how lucrative it is to trade with this trade. They have an awesome customer service that will take care of any arising issue effectively. This is a trader that I would strongly recommend for anyone willing to check the waters of forex trading.
Trading accounts of FXCM
- Standart
- Mini
- Active Trader
Trading platforms: | FXCM Trading Station, MetaTrader 4, NinjaTrader, Meta Trader 4 Mobile, Zulutrade |
Minimum Deposit : | 5000 $ |
Deposit currency : |
USD - US Dollar EUR - Euro GBP - British Pound AUD - Australian Dollar CHF - Swiss Franc CAD - Canadian Dollar NZD - New Zealand Dollar |
Trading instruments:
| Forex1:100
Number of currency pairs: 37
CFD's1:10 Amount of assets : 57
Metals1:200
Energy sources1:200
|
Stop Out:
| 100 % |
Minimum position size:
| 0.01 лотов |
Max. number of orders:
| |
Execution type:
| Instant Execution |
Swap Free:
| Not |
VIP Account:
| Not |
Spread type:
| Floating |
Decimal places:
| 5 characters |
Margin Call:
| 100 % |
Speed of execution:
| 0.2 sec. |
Commission:
| Not |
Phone trading:
| Not |
Trading platforms: | FXCM Trading Station, MetaTrader 4, NinjaTrader, Meta Trader 4 Mobile, Zulutrade |
Minimum Deposit : | 0 $ |
Deposit currency : |
USD - US Dollar EUR - Euro GBP - British Pound AUD - Australian Dollar CHF - Swiss Franc CAD - Canadian Dollar NZD - New Zealand Dollar |
Trading instruments:
| Forex1:100
Number of currency pairs: 37
Metals1:200
Energy sources1:200
|
Stop Out:
| 100 % |
Minimum position size:
| 0.01 лотов |
Max. number of orders:
| |
Execution type:
| Market Execution |
Swap Free:
| Not |
VIP Account:
| Not |
Spread type:
| Floating |
Decimal places:
| 5 characters |
Margin Call:
| 100 % |
Phone trading:
| Not |
Trading platforms: | FXCM Trading Station, MetaTrader 4, NinjaTrader, Meta Trader 4 Mobile, Zulutrade |
Minimum Deposit : | 25000 $ |
Deposit currency : |
USD - US Dollar EUR - Euro GBP - British Pound AUD - Australian Dollar CHF - Swiss Franc CAD - Canadian Dollar NZD - New Zealand Dollar |
Trading instruments:
| Forex1:100
Number of currency pairs: 37
CFD's1:200 Amount of assets : 47
Metals1:200
Energy sources1:200
|
Stop Out:
| 100 % |
Minimum position size:
| 0.01 лотов |
Execution type:
| Market Execution |
Swap Free:
| Not |
VIP Account:
| Not |
Spread type:
| Floating |
Decimal places:
| 5 characters |
Margin Call:
| 100 % |
Phone trading:
| Yes |
Contacts of FXCM
Recent customer reviews of FXCM
Advantages: Nothing
Disadvantages: Got scammed
Comment: For beginners they have good educations features, but customer service is poor, during my first withdrawal the speed is slow Which was still okay, after my second deposit I was locked out of my account, submitted IDs but I wasn’t allowed in my account again. Since I’m okay with the outcome on my trades benarmstrong-trades. c0♍️ I just have to let go of my loses here, Also swap rates is negative independent of interest rates in FXCM
Advantages: Social trading is allowed, low trading fees, great research offering
Disadvantages: None
Comment: I chose this broker because it provided social trading, and as you may know, it can be a challenge to find such a broker. I was surprised with the educational materials there, and it actually helped me take my trading skills to a new level. As for the disadvantages, I haven't found any, and that's why I highly recommend turning to this broker, low trading fees there are pretty attractive.
Advantages: I was able to recovery my funds
Disadvantages: Do not invest
Comment: Hello everyone it is possible to retrieve your stolen bitcoins. I never believed in bitcoin recovery because I was made to understand that it is not possible. But sometime in DECEMBER I fell for a binary options scam which promised a higher return and I lost close to $75,000. I read an article on (reddit) as regards to a recovery expert and genius so I reached out to SCAM RECOVERY SITE, and to my surprise I got all bitcoins recovered within 24hours frame. I don’t know if I’m allowed to share the links on here but you can contact them if you are finding it very difficult to withdraw your funds at, Scamrecoverysite at fastservice dot com All thanks to them.
FXCM webinars and seminars
Mark your calendar and join FXCM’s live trading session about the different features and strategies of a trading platform. ...
participateFXCM is working with some experts that are committed in teaching about any Forex-related matters. It is never easy to find succes ...
participateFXCM bonuses, contests and promotions
All bonuses, promotions, contests FXCM
International online Forex broker FXCM is extending its free wire transfer transactions! The company is reimbursing the wire transfer cost with mini ...
participate