FXCM Review

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:

1. $50000 in virtual money to trade.
2. Live buy and selling prices.
3. 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:

1. The base currency is the United States dollar.
2. Offers a vast range of trading instruments from indices, CFDs, commodities, currencies, and metals.
3. 24 hours trading.
4. Allows for scalping.
5. Stop out at 100%
6. Instant execution.
7. Floating spread type.
8. 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.

1. A license to operate in the united kingdom by UK's financial conduct authority (FCA).
2. It is licensed to carry out its operations in South Africa by the financial sector conduct authority (FSCA)
3. 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:

1. Segregation of clients and company’s funds.
2. Negative balance protection.
3. 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:

1. Powerful charting tools.
2. Has automated strategies in trade execution.
3. Has advanced analytic tools.
4. 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:

1. Market analyzer and market replay.
2. Runs the demo account.

The Metatrader4 Trading Platform

The metatrader4 trading platform is a popular trading platform among traders. Among its many features are:

1. Advanced charting and analytical tools.
2. Offers both market and instant executions.
3. Allows for hedging and scalping.
4. Allows for automated trading.
5. 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

1. 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.