Founded in 1999, FXCM’s mission is to provide global traders access to the world’s largest and most liquid market by offering innovative trading tools, hiring excellent trading educators, and meeting strict financial standards. As a Leucadia Company, FXCM benefits from the scale and breadth of the Jefferies family of companies. With a focus on integrity and agility, FXCM adapts to changing industry trends and customer demands. The company offers mobile trading, one-click order execution, and real-time chart trading. Additionally, it provides educational courses on FX trading, proprietary data, premium tools, and prime brokerage services through FXCM Prime.
Pros and Cons
Pros
- Low minimum deposits to start trading forex
- Affiliation with Jefferies Financial Group provides financial strength and expertise.
- Mobile trading and one-click order execution available.
- Offers educational courses on FX trading, as well as proprietary data and premium resources.
- Dedicated 24/5 customer support with global offices
Cons
- Limited asset selection
Recommended For
FXCM is suitable for various types of traders, ranging from beginners to experienced ones. The company offers educational courses on FX trading, provides trading tools, proprietary data, and premium resources. It also offers dedicated 24/5 customer support with global offices in London, Melbourne, and more. The breadth of platforms and available tools means that experienced traders are best served by FXCM’s emphasis on incorporating value-added services and resources.
Regulated By
- FXCM LTD is regulated by the Financial Conduct Authority (FCA) in the UK.
- FXCM Australia Pty. Limited is regulated by the Australian Securities and Investments Commission.
- FXCM EU LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
- FXCM South Africa (PTY) LTD is regulated by the Financial Sector Conduct Authority.
Top Features
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No Restrictions for Stop and Limit Orders: Investors can trade full set of popular currency pairs and other trading assets with no restrictions for stop and limit orders.
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Free Live Trading Signals: FXCM comes with live trading signals, meaning all live account holders have access to free live forex trading signals inside FXCM PLUS, which includes proprietary trading signals and technical analysis to maximise the trading experience.
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The Regulatory Landscape: The FXCM Group is regulated in several jurisdictions by some of the most respected regulatory bodies in the world:
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Customer Support and Resources: FXCM is committed to providing dedicated 24/5 customer support. Additionally, the company offers educational courses on FX trading and provides trading tools, proprietary data, and premium resources to help traders navigate the financial markets successfully.
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Trading Platforms: FXCM offers a diverse range of trading platforms, each designed to optimise performance in the forex, spread betting markets (only provided for U.K residents), and other assets:
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Trading Station: FXCM’s flagship platform provides users with advanced analytics, charts, and functionality.
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MetaTrader4 (MT4): This industry-standard platform allows users to engage the markets on-the-go with the MT4 app and readily integrate Expert Advisors (EAs) and Virtual Private Server (VPS) access into their trading plans.
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Third-party platforms: FXCM also offers a suite of third-party platforms that can be fully integrated with their acclaimed execution services.
Overview
- Type of Exchange Forex and CFD broker
- Type of Exchange • FXCM LTD is regulated by the Financial Conduct Authority (FCA) in the UK. • FXCM Australia Pty. Limited is regulated by the Australian Securities and Investments Commission. • FXCM EU LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). • FXCM South Africa (PTY) LTD is regulated by the Financial Sector Conduct Authority.
- Clients Accepted From Worldwide, with exceptions.
- Assets Offered Forex Commodities, CFDs Indices, CFDs, Cryptocurrencies
- Platforms Available Trading Station, MetaTrader4 (MT4), Third-Party Platforms
- Mobile Compatibility iOS Android
- Payment Types Accepted Credit/Debit Card, Bank Wire Transfer, PayPal, Skrill, Neteller
Account Types
|
|
Demo Account |
Standard Account |
Active Trader Account |
|
Account Currencies |
USD, GBP, EUR, CHF, JPY, CAD, AUD, NZD, RUB |
USD, GBP, EUR, CHF, JPY, CAD, AUD, NZD, RUB |
USD, GBP, EUR, CHF, JPY, CAD, AUD, NZD, RUB |
|
Available Leverage |
up to 400:1 |
up to 400:1 |
up to 400:1 |
|
Minimum Deposit |
0 GBP |
50 GBP |
25,000 GBP |
|
Starting Spreads |
EUR/USD at 1.3 pips and GBP/USD at 1.8 pips |
EUR/USD at 1.3 pips and GBP/USD at 1.8 pips |
EUR/USD at 1.3 pips and GBP/USD at 1.8 pips |
|
Decimal Pricing |
5 |
5 |
5 |
|
Trading Instruments |
|
|
|
|
Demo Account |
Yes |
No |
No |
Trading Platforms
- FXCM Flagship Trading Station Desktop
- Mac friendly Trading Station Web 3.0
- Mobile platforms.
- FXCM also offers MetaTrader4.
- TradeView Pro
Trading and Investment Tools
- One Click Trading Yes
- Trade off Charts Yes
- Email Alerts Yes
- Mobile Alerts Yes
- Stop Order Yes
- Market Order Yes
- Trailing Stop Order Yes
- OCO Orders Yes
- Limit Order Yes
- 24hr Trading Yes
- Charting Package Yes
- Streaming News Feed Yes
Compliance & Regulation
When it comes to forex trading, compliance and regulation are of utmost importance. The FXCM group of companies is regulated by several respected regulatory bodies around the world, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC), along with others. These regulatory bodies enforce strict financial standards on FXCM, including capital adequacy requirements, and have the right to fine firms and terminate their regulatory status for violations. Accounts with FXCM are also segregated in accordance with client money rules, providing added protection for client funds.
Fees & Commissions
- Rollover Fee 0 GBP
Pricing
FXCM offers competitive pricing with average spreads for popular currency pairs such as EUR/USD at 1.3 pips and GBP/USD at 1.8 pips. Active traders can take advantage of the Active Trader account, which provides access to elite pricing, dedicated support, API trading, and market depth via Trading Station.
Service Details
- Supported Languages Besides English, FXCM offers support in Spanish, French, German, Arabic, Chinese-Mandarin, Italian, and Greek.
- Customer Service Hours FXCM representatives are available 24 hours a day, 5 days a week and Live chat support is available 24/5.
- Email Response Time Immediate
- Telephone Orders Yes
- Personal Account Manager Yes
Reliability & Security
Client funds with FXCM LTD are segregated according to FCA client money rules. This means that in the unlikely event of default, client funds held in segregated accounts are protected and cannot be used to benefit other creditors. Additionally, the FCA maintains records of all formal proceedings against regulated entities, offering transparency and increased investor protection.
User Experience
FXCM offers a diverse range of powerful trading platforms tailored to suit various trading strategies and preferences. Among them are FXCM’s flagship Trading Station Desktop, Mac-friendly Trading Station Web 3.0, mobile platforms, and MetaTrader4 for those who use Expert Advisors.
Clients can also access free live trading signals and technical analysis tools through FXCM PLUS, an exclusive live account portal designed to enhance the trading experience. For beginners, FXCM offers a demo account stocked with £50,000 in virtual money, allowing users to practise and develop strategies risk-free.
Opening a live forex trading account with FXCM is a quick and straightforward process. There are no account minimums, enabling traders of all sizes to start their forex trading journey as they see fit.
Final Thoughts
FXCM has proven itself as a reliable and secure platform for both new and experienced traders. With its commitment to transparency, competitive pricing, powerful trading platforms, and adherence to strict regulatory standards, FXCM is an ideal choice for those looking to trade forex and other assets.
Trading Platform Screenshots
Contact Info
20 Gresham Street, 4th Floor London EC2V 7JE United Kingdom
FAQs
Q: What are the benefits of trading with FXCM?
A: FXCM offers a full set of popular currency pairs and CFDs with no restrictions for stop and limit orders. They also have average spreads for EUR/USD of 1.3 and for GBP/USD 1.8 pips. They offer powerful trading platforms including their flagship Trading Station Desktop, Mac friendly Trading Station Web 3.0, and mobile platforms. Additionally, they offer free live Forex and CFD trading signals inside FXCM PLUS.
Q: What are the requirements to open a Forex account with FXCM?
A: Opening a live Forex trading account with FXCM is quick and easy. All you need to do is confirm your country of residence and complete the online application. Upon approval, you will receive a MyFXCM username and password which you can use to log-in at the MyFXCM client portal, deposit funds and begin trading.
Q: What trading platforms can I use with FXCM?
A: FXCM currently supports several powerful platforms including Trading Station which is their flagship platform that furnishes users with advanced analytics, charts and functionality. They also offer MetaTrader4 (MT4) which is the forex industry-standard platform that allows users to engage in the markets on-the-go with the MT4 app, free of any trading restrictions. FXCM also offers their clients a suite of third-party platforms that can be fully integrated with their acclaimed execution.
Q: How much money do I need to get started with Forex trading at FXCM?
A: FXCM accommodates traders of all sizes. Refer to the minimum deposit and other standard fees mentioned above, to get a better understanding of how much is required for you to start trading with this broker.
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