FXCM Review
An award winning and leading provider of online foreign exchange(FX) trading, stocks, CFD trading, Crypto CFDs and related services worldwide.
Broker: FXCM
Leverage: 1:200 | 1:30
Regulation: ASIC, FCA, FSCA
Min. Deposit: 300 GBP
HQ: UK
Platforms: MT4, Trading Station, ZuluTrade, TradingView, Ninja Trader
Found In: 1999
Website: fxcm.com
FXCM Licences
Forex Capital Markets Limited (FXCM LTD - authorized by FCA UKregistration number. 217689
FXCM Pty. Limited (FXCM AU). - Authorized by ASIC Australia. registration number. AFSL 309763. ACN: 121934432
FXCM (PTY) Ltd. - Authorized by FSCA (South Africa)registration number. FSP 46534
What is FXCM?
FXCM is a pioneer provider of online trading and foreign exchange, Forex trading, stocks, commodities, indicces, and spread betting (available only to UK and Ireland residents).
Leucadia National Corporation, with its great potential and development since January 2015 has been the majority economic owner for FXCM. Company, has a great reputation and invests in many businesses, mainly in investments and financial services.
FXCM is based where?
FXCM Group, headquartered in London (UK), offers dedicated customer service, regardless of client's location, through a global network of offices in Germany, Australia and France. The broker also has access to residents of South Africa, Israel, Greece and Israel through its affiliated offices. This makes it a true global broker.
Overview
FXCM was founded in 1999. Its primary goal was to offer global traders access to the largest liquidity market by offering innovative trading tools and support from excellent trading educators. All of this was done while adhering to strict financial standards.
FXCM is committed to providing the best trading experience. We have developed intuitive platform options including the award-winning Trading Station. There are also many other options available for trading, such as numerous automated strategies and applications.
Pros
Regulated by the FCA
Fast account opening
Quality educational content
MT4
Good technical tools
Cons
Limited asset selection
High withdrawal fees
MT5 is not available at FXCM
No support 24/7
Rating of the company overall
Reliability ⭐⭐⭐⭐
Platform ⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐
RATING: 4.0
Awards
FXCM's nearly twenty-year history of success is proof enough that it is legitimate. The firm has been regularly nominated by financial institutions who acknowledge the broker's contributions and progress. FXCM has been honored with the following:
FXCM scam or safe?
FXCM isn't a scam. The Companies that make up the FXCM Group are regulated by several jurisdictions around the world, including ASIC and top-tier FCA. FXCM is considered to be low-risk because of this.
What is the regulation of FXCM?
FXCM LTD has been authorized and regulated by the Financial Conduct Authority. The FCA regulations require that brokers adhere to strict financial standards. These include capital adequacy requirements and transparency in business practices. Client funds must also be kept under protection, while being held in separate accounts.
Each of the internationally presented offices is licensed and follows country financial regulations. FXCM Australia Pty. Limited is regulated under the ASIC. FXCM Germany is partially regulated through BaFin. FXCM Italy is under the control of CONSOB (Check out the FSCA Regulated Infinox Kapital Review). Authorization in South Africa.
Leverage
FXCM permits leverage trading of Forex and CFDs. This tool gives you an edge even in the smallest market movements. Simply put, leverage is a credit card that a broker gives to your trading account in order to increase the size of your trades.
Leverage can increase your potential gains but may also increase your losses. Therefore, you need to be careful with leverage. Do not use high levels of leverage, but set the right size for each instrument.
Different leverage levels in FXCM are determined by the traders' account funds and the regulations that particular residents or accounts might be subject to. New traders default to 50:1 leverage. This can be increased to 200 on Forex and 400:1 for CFDs. However, this is only available to Australian residents or holders of accounts subject to ASIC regulation.
1:400 for Australian Clients
1:30 for clients in the UK and Europe
1:400 South Africa
Otherwise, because of European regulatory restrictions under ESMA will apply a 30:1 level on Forex products, 20:1 non-major currencies pairs, gold, major indices , 10% for commodities other that gold and nonmajor equity indices. is 2:1 for cryptocurrencies.
Accounts
With one account at FXCM you can trade any of the trading instruments included in the offering. It is quick and easy to open a forex trading account. After signing in for Demo, you will be able to start live trading once your residency and compliance have been confirmed.
FXCM offers attractive options for beginners and also offers welcome bonuses for certain entities, which you can check on the current site.
FXCM's Active Trader account is another opportunity that is attractive for high-volume investors. You can enjoy premium services and customized solutions as an Active Trader, as well discounted spread costs depending on how much you trade.
Fees
All FXCM account types allow you to trade indices or commodities without any stop, limit restrictions, or requotes. However, enhanced index CFDs allow you to trade indices and commodities without limit restrictions and no stop. Below are the CFD spread costs and fees such as funding fees. However, for more accurate data, visit official website or FXCM platform.
Spreads
The FXCM fee is a good option, with a lower spread for some instruments than the competition. However, please note that Spreads can change and may delay. If you use a long-term or swing trading strategy, make sure to include an overnight fee or swap. Active traders will also get discounted pricing, which is always a good thing.
You can compare fees with popular brokers:
Which instruments can you trade on FXCM
FXCM offers a wide range of market instruments, including popular pairs and cryptocurrencies. It also offers Forex, Indices and Commodities to residents in the UK and Ireland.
Deposits and withdrawals
FXCM offers a convenient method for account opening. You can open a practice account to test the platform and enjoy account benefits.
Deposit Options
After the account type is settled, you can continue with the fund deposit which will allow you to start live trading. FXCM provides a variety of funding options, including fast and secure transactions.
Credit and Debit Card
EFT & Bank Wire
Skrill allows you to make e-payments
What is the minimum deposit required for FXCM accounts?
FXCM Minimum deposit $50. This is determined by the FXCM's entity. UK and EU clients will also need to have GBP300 at the beginning.
FXCM Minimum Deposit vs Other Brokers
Withdrawals
You can use the same payment method to withdraw funds. There are no withdrawal feesby debit card or credit card. However, an international Bank Wire request will incur a $40 fee.
What is the withdrawal time from FXCM?
The accounting department usually processes and confirms withdrawal requests within two business days from the time you submit and confirm them. Allow your payment provider to add some time for the transaction.
How can I withdraw money from FXCM
You must submit an online request to withdraw funds from your account once you have made the decision. Follow the instructions. The following steps will help you to keep it simple:
Log in to your account to go to the Withdraw page
Click 'Withdraw' to select the withdrawal method and amount you require.
Complete the withdrawal request
Submit and confirm your withdrawal
Trade Platforms
FXCM offers a range of powerful software trading platforms to help clients achieve their trading goals, regardless of whether they are new or experienced traders.
FXCM's software suite offers market access with multiple order types and powerful utilizing tools. FXCM also has an exclusive Real Volume indicator. Automated trading strategies that can be optimized and tested.
Web Platform
There are a few trading software options to choose from. These include Ninja Trader and Trading Station. Ninja Trader is FXCM's award winning proprietary platform. It features great innovation and functionality that is available on Web, Desktop, and Mobile.
Web Platfrom is more appropriate for traders of regular size, as web versions tend to be less complete in terms analysis tools, drawing features, and other advanced capabilities. The platform is solely online and accessible through any browser.
Desktop Platform
Desktop platforms can be used for all offers. Trading Station is the most popular choice of active traders. However, it is also the product that is easy to use and has a clear market vision.
You can still use the MetaTrader4 but with FXCM's integrated features and developed features, including EAs, scalping, 0.01 lot sizes and Free VPS Enhance, all within 500k average trades.
Mobile Platform
The broker integrates to FXCM's highly acclaimed execution a special FXCM appsoffering a customized trading experience. You can also add an app for news, trends, range traders, and apps for smooth trading.
Social trading
While developing your trading strategy, fresh trading graduates can rely on company tool support. Beginning traders face many challenges. However, time and capital loss due to emotion-based trades are the biggest barriers to their success. To overcome these impediments, FXCM supports the functionality of Autotradingthrough market leading ZuluTradeand NinjaTraderplatforms.
Support for Customers
FXCM's client-oriented approach is another positive point. In addition to its excellent trading proposition, FXCM offers customer service through a variety of channels including phone, email, Web Live Chat and Phone. Additionally, dedicated lines are available for Africa due to FXCM's focus on Africa, in particular. These lines include lines for South Africa, Nigeria, Kenya, and other countries. They are also available on working days.
FXCM was actually highly regarded by clients for its excellent trading conditions and support. This is definitely a positive aspect to our FXCM review.
Education
FXCM hosts regular educational events in different cities around the globe with a strong focus on African education since expanding its activities. FXCM is fully aware of the importance of quality education and believes that knowledge and materials are key to success.
FXCM offers many education resources with continuing courses, webinars seminars, platform tutorials trading tools, trading tools and research tools. FXCM also has a superb glossary, Forex news. Economic Calendar, Market outlooks, Analyst analysis, and Forex news.
You can access free research, insights, and strategies outlook. All interested traders can also access a free online classroom that provides a great way to get started.
Who is FXCM Review Recommend for?
FXCM reviews are recommended for both professional and beginner traders. FXCM offers both professional and beginner traders favorable offers. All clients can benefit from signing up with FXCM.
Conclusion
The solid background of the broker and years of success in the financial industry is an asset to the FXCM's safe and reliable trading environment. High volume traders or active traders can benefit from the many interfaces available, competitive spreads and advanced technical features. FXCM can be a good option for beginning traders. There are no large deposits required to trade, and supportive customer managers remain available, also offers unique educational technologynics that includes an impressive range of tools, including Autotrading and a variety of supported indicators.