FXCM offers a wide range of instruments, including forex pairs, indices, commodities, stocks, and cryptocurrencies. FXCM is considered a safe broker due to its regulation by the FCA, ASIC, and FSCA. The broker offers negative balance protection for retail clients and operates with a high level of transparency. While FXCM faced financial issues in the past, its acquisition by Leucadia National Corporation has solidified its position as a trustworthy broker with a focus on providing a secure trading environment.
- The FXCM Standard Account has a minimum requirement of $50 (depending on payment method) when making an account deposit.
- Access to proprietary data and premium resources is a guaranteed way to help beginners gain more experience on the platform.
- With flexible market executions enabled by platforms like Trading Station and MetaTrader 4, they support a wide range of trading methods.
- The educational center offers trading guides, tutorials, webinars, live classrooms, and live charts to provide valuable insights into the market.
- FXCM is suitable for various types of traders, ranging from beginners to experienced ones.
For more details about FXCM’s customer support, visit the FXCM customer support page. FXCM provides a selection of cryptocurrency CFDs, including popular options like Bitcoin, Ethereum, and Litecoin. This offering allows traders to engage in the dynamic cryptocurrency markets by speculating on price movements through the use of CFDs. The flexibility of CFD trading is a significant advantage, as it enables traders to potentially profit from both rising and falling market trends without the need to own the actual cryptocurrencies.
Fees & Commissions
FXCM provides a great example of how to enrich your offerings and is truly a leader in this sector. Most industry experts consider FXCM a trustworthy broker, thanks to its top-tier regulation and availability of multiple trading platforms and tools. However, for a broker that has been around since 1999, it could work on its product offerings and high withdrawal fees. Moreover, 24/7 customer support will probably make this platform more popular.
If you prefer social or copy trade, then Zulu Trader might be your preferred choice of the trading platform. This type of trading allows you to copy the trades of experienced traders, making it a great choice for beginner traders wanting to learn the trading strategies of successful traders. The feature gives users the ability of traders to share ideas and strategies and help other traders.
Trading Restrictions
An Interest-free account is targeted at Swap Free Islamic Accounts who are forbidden from earning (or paying interest) as it is forbidden by Sharia law. FXCM add an extra 0.4 pips to the spread for Standard accounts and a $2.00 commission per lot (per side for commission-based accounts in place of overnight fee or swap rates. The Active Trader account uses a tiered commission structure which means the more you trade, the lower your commission cost will be. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team.
A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go.
RAW/ECN Account Commission And Spread
With a demo account on its proprietary Trading Station platform, you’ll have access to FXCM’s trading tools, charts, and order types. FXCM also provides a separate demo account for its MetaTrader 4 offering. With a demo account, you’ll be able to test strategies and familiarize yourself with the platform without risking any real money. At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
- FXCM’s in-house education is above average, and primarily takes the form of articles, videos, and content produced for its FXCM YouTube channel.
- To prevent this from happening, you either have to place a new trade, maintain an existing trade or close your account.
- It is great to see the course topics divided into sections according to traders’ skill levels, making them easy for the appropriate levels to access, and I am happy with the range of recorded materials available.
- The Professional Account caters to traders who meet specific requirements, demonstrating significant proficiency and extensive trading activities.
Deposit Options and Fees
FXCM Broker is one of the most trustworthy trading platforms in the world, as it’s overseen by top-tier regulatory bodies, including the FCA, ASIC, and CySEC. It has been around since 1999, meaning it’s one of the earliest trading platforms to be listed. For those interested in competitive trading conditions and top-tier regulation, FxPro could be the right option for you. It supports many trading platforms that you can learn by reading our FxPro review for more information. It’s always a good idea to evaluate a broker by analyzing actual users’ experiences. Overall, many praised FXCM for its user-friendly platform and availability of multiple trading platforms.
FXCM offers 24/5 award-winning customer services with customer support contactable via live chat, email, phone and even SMS text message. If you wish to call FXCM, fxcm broker review there are 42 country-based numbers one can call from. The broker claims to offer some of the tightest spreads on the market when it comes to trading BITCOIN.
Yes, they provide a web-based version of the Trading Station platform, allowing convenient access without program installation. This broker’s integration with TradingView Pro enables users to access these powerful functionalities while seamlessly managing trades from within the interface. The broker uses modern encryption methods, including SSL encryption, to safeguard personal information and financial transactions from illegal access. The broker provides two-factor authentication (2FA) for account access, adding another protection layer to prevent fraudulent account use. Moreover, they are affiliated with a compensation fund offering additional customer protection.
FXCM Reviews 663
The Islamic Account is tailored for traders who adhere to Sharia principles. This account adheres to the religious tenets by exempting overnight holders from paying interest, as it aligns with Islam’s financial norms. The account proves particularly beneficial when experimenting with new tactics or familiarizing oneself with platforms and functions.
Both analysis and trades can take place directly from the chart with a few clicks, and the handy sidebar makes it very easy to cycle through tradeable assets. These amounts are the absolute maximum leverage on offer, but they may vary according to the asset traded, with more volatile assets generally providing lower amounts of leverage. All in all, I think the asset classes offer broad coverage that most traders will get a lot out of, but FXCM’s instrument list lacks depth, especially in its range of stocks. Moreover, I rate the forex baskets on offer, covering the US Dollar and Japanese Yen. Traders can benefit from the TradingView integration with its Pro version, which adds more features.
FXCM Withdrawal Options and Fees
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. Here is a screenshot of the FXCM Trading Station platform during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. FXCM does not charge fees for most deposit and withdrawal methods, although third-party fees from payment providers may apply.
