| Founding Year |
 1999
|
|---|---|
| Regulated |
 Yes
|
| Rating |
4.9/5 |
| Minimum Deposit |
 $50
|
4.9/5
1999
$50
FXCM is a leading online forex and CFD (Contract for Difference) broker that has been providing trading services to clients globally since 1999. The company’s mission is to provide traders with superior trading technology, transparent pricing, and reliable customer service.
FXCM is regulated by top financial authorities around the globe. The broker offers a wide range of trading products, including forex, commodities, indices, and cryptocurrencies. Clients can access these markets through various trading platforms, including the popular MetaTrader 4 (MT4) and the proprietary Trading Station platform. FXCM also offers a range of educational resources, including webinars, trading guides, and video tutorials, to help traders improve their skills and knowledge.
In addition to its retail trading services, FXCM also provides institutional trading solutions to banks, hedge funds, and other financial institutions. These solutions include prime brokerage, liquidity, and API trading services
| Founding Year |
1999
|
|---|---|
| Regulated |
Yes
|
| Rating |
4.9/5 |
| Minimum Deposit |
$50
|
FXCM is regulated by top financial authorities, including the FCA, ASIC, and FSC. The FCA regulates financial services in the UK, ASIC regulates financial services in Australia, and FSC regulates financial services in South Africa. FXCM’s regulatory oversight ensures that the broker operates in compliance with regulations and that clients’ funds are secure.
The regulatory bodies ensure that financial markets are fair, transparent, and efficient, and FXCM’s regulatory compliance demonstrates its commitment to transparency and secure trading services. FXCM’s regulatory oversight by these top financial authorities makes it a reputable and trustworthy broker in the industry. Its commitment to regulatory compliance has helped it to become a popular choice among traders globally, who seek secure and reliable trading services.
| COUNTRY | AUTHORITY |
|---|---|
 UK
|
Financial Conduct Authority (FCA) |
 Australia |
Australian Securities and Investments Commission (ASIC) |
 South Africa |
Financial Sector Conduct Authority (FSCA) |
FXCM offers a variety of account types to cater to the diverse trading needs of its clients. The standard account is the most popular account type and is suitable for traders of all levels. It requires a minimum deposit of $50 or equivalent in other currencies, and clients can access a range of markets, including forex, commodities, indices, and cryptocurrencies.
FXCM also offers an Active Trader account, which is suitable for high-volume traders who require tighter spreads and personalized support. The Active Trader account typically requires a higher deposit amount, and clients can access a range of trading tools and resources to help them make informed trading decisions. Additionally, Active Trader clients receive priority support and access to a dedicated account manager.
For traders who prefer automated trading, FXCM offers a Forex Automated Trading account, which allows clients to connect their trading strategies to a virtual private server (VPS) and automate their trades. This account type is suitable for traders who use Expert Advisors (EAs) or other automated trading strategies.
FXCM also provides a Professional account for eligible clients who meet the criteria for professional client status. This account type offers higher leverage and lower margin rates than the standard account, and clients have access to various trading platforms and tools. In addition, FXCM also offers an Swap free account (Islamic account) for traders who want to follow Sharia compliance.
FXCM provides a wide range of financial instruments for its clients, including forex, cryptocurrencies, CFDs on stocks, indices, commodities, and baskets.
Forex trading is one of the core offerings of FXCM, with over 39 currency pairs available for trading. Clients can access competitive spreads and a variety of trading platforms to suit their individual trading styles. The forex market is highly liquid and trades around the clock, providing clients with ample trading opportunities.
Cryptocurrency trading is another popular offering from FXCM, with clients being able to trade popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple. Clients can potentially profit from the volatility in cryptocurrency markets and can access a variety of trading tools and resources to aid their trading strategies.
CFD trading is also available on FXCM’s platform, with clients being able to trade on over 500 global stocks and indices. CFDs allow clients to take both long and short positions on markets and can be used as a hedging tool for other investments. Clients can access a variety of trading platforms and tools to suit their individual trading styles.
Commodity trading is also available on FXCM’s platform, with gold and crude oil being two of the most popular commodities offered. Clients can potentially profit from fluctuations in the price of these commodities and can access a range of trading tools to aid their trading strategies.
Finally, FXCM offers basket trading, which allows clients to trade a diversified portfolio of assets with a single trade. Clients can choose from a range of pre-built baskets or create their own custom baskets, enabling them to trade on specific themes or sectors.
| PLATFORM | AVAILABILITY |
|---|---|
| Proprietary Platform |
Yes
|
| MT4/MT5 (Windows/MAC) |
Yes
|
| Mobile Platform (Android/IOS) |
Yes
|
FXPro offers leverage to its account holders, allowing traders to increase their buying power and trade larger positions than what their deposit would normally allow. The amount of leverage offered by FXPro varies depending on the type of account and the underlying asset being traded. The following are the typical leverage offerings for FXPro account holders
The leverage ratio on major and minor currency pairs is 1:500. The leverage for trading Gold futures is 1:200. For spot Gold and other precious metals it is 1:500. Spot indices can be traded with a leverage of 1:500 while the leverage for Future indices is 1:50. The Crude oil leverage ratio is 1:200 while for commodities such as corn and wheat it is 1:50. The leverage ratio for various CFD stocks is 1:20 and for cryptocurrencies it is 1:200.
| PRODUCT | MAX LEVERAGE |
|---|---|
| FOREX | 1:500 |
| COMMODITIES | 1:200 |
| CFD STOCKS | 1:20 |
FXCM provides transparent pricing with competitive spreads and commissions for its clients. Forex spreads start as low as 0.2 pips for major currency pairs, with the exact spread depending on market conditions and the client’s account type. There are no commissions charged on forex trades, and clients are only required to pay the spread when entering and exiting a trade.
For CFDs, commissions are charged on certain instruments such as shares, while spreads are applicable on others like indices, commodities, cryptocurrencies, and baskets. The exact spread or commission charged varies depending on the instrument and the client’s account type.
For example, spreads on popular cryptocurrencies like Bitcoin and Ethereum can be as low as 1.5 pips, while spreads on gold and crude oil start as low as 0.3 pips and 0.4 pips respectively. Spreads on popular stocks such as Apple and Facebook can be as low as 0.08 pips.
FXCM also accepts cryptocurrency deposits via BitPay, allowing clients to fund their accounts with Bitcoin or Bitcoin Cash. However, clients should note that any cryptocurrency deposits will be converted to USD or another base currency upon receipt, and FXCM does not currently offer trading in cryptocurrencies as the base currency.
| PRODUCTS | AVAILABILITY |
|---|---|
| Multi Assets |
Yes
|
| Forex |
Yes
|
| Crypto |
Yes
|
| CFD Stocks |
Yes
|
| CFD Indices |
Yes
|
FXPro’s approach to pricing has been positively received by some traders for its flexibility and cost-effectiveness. The broker offers varying spreads based on the account type chosen and the underlying asset being traded, allowing clients to select the best option for their individual needs.
The MT4 Raw Spread account provides spreads without markup on FX & Metals and a low commission fee of $3.50 per lot. The Metatrader 4 & 5 account types offer marked-up spreads but no commission fee, while the cTrader platform account boasts lower spreads on FX & metals with a commission of $35 per $1 million USD traded.
Spreads are dynamic and adjust to market conditions, except for the MT4 Fixed account which offers fixed spreads on 9 major FX pairs and one minor during certain periods. This flexible pricing structure allows clients to make informed decisions about their trades and effectively manage their costs and risks.
| PRODUCT | SPREAD RANGE |
|---|---|
| Forex | 0.7 - 1.2 |
| Commodities | 0.3 - 2.5 |
| Indices | 1 - 2.0 |
FXCM provides transparent pricing with competitive spreads and commissions for its clients. Forex spreads start as low as 0.2 pips for major currency pairs, with the exact spread depending on market conditions and the client’s account type. There are no commissions charged on forex trades, and clients are only required to pay the spread when entering and exiting a trade.
For CFDs, commissions are charged on certain instruments such as shares, while spreads are applicable on others like indices, commodities, cryptocurrencies, and baskets. The exact spread or commission charged varies depending on the instrument and the client’s account type.
For example, spreads on popular cryptocurrencies like Bitcoin and Ethereum can be as low as 1.5 pips, while spreads on gold and crude oil start as low as 0.3 pips and 0.4 pips respectively. Spreads on popular stocks such as Apple and Facebook can be as low as 0.08 pips.
FXCM also accepts cryptocurrency deposits via BitPay, allowing clients to fund their accounts with Bitcoin or Bitcoin Cash. However, clients should note that any cryptocurrency deposits will be converted to USD or another base currency upon receipt, Finally, FXCM accepts a variety of e-wallets as payment methods. Clients can fund their accounts using e-wallets such as PayPal, Skrill, and Neteller. These payment methods offer a convenient and secure way to deposit funds into a trading account, with most e-wallet deposits being processed instantly.
| METHOD | AVAILABILITY |
|---|---|
| Credit/Debit Card |
Yes
|
| Wire Transfer |
Yes
|
| E-Wallets |
Yes
|
| Crypto |
Yes
|
FXCM is a well-established online broker that offers an extensive range of financial products, making it a one-stop-shop for traders of all experience levels. The broker’s low spreads make it a popular choice among traders, providing competitive pricing on forex, indices, commodities, and cryptocurrencies. This low-cost structure allows traders to maximize their profit potential, which is a huge plus.
One of FXCM’s key strengths is its commitment to providing high-quality educational resources to its clients. These resources include trading guides, video tutorials, and webinars that cover a wide range of topics and cater to traders of all levels. FXCM’s acceptance of cryptocurrency payments is another standout feature. Clients can fund their accounts using Bitcoin or Bitcoin Cash through the BitPay platform, which is an added convenience for traders who prefer to use digital currencies.
The broker’s trading platforms are also among its strong points, with the popular MetaTrader 4 and Trading Station platforms both available. The Trading Station platform is particularly impressive, with its intuitive interface, customizable charts, and advanced order management tools. In conclusion, FXCM is a top-tier online broker that offers a range of products, competitive pricing, educational resources, and innovative trading platforms. These features make it an excellent choice for traders of all experience levels who are looking for a reliable and trusted broker to help them achieve their financial goals.
| Pros |
 Cons |
|---|---|
| Multi Asset | No Copy Trading |
| Multi Regulated | |
| Comprehensive Education | |
| Low Minimum Deposit | |
| Huge List of Instruments | |
| Low Spread | |
| Proprietary Platform |
©2023 FOREXWICK.COM All Rights Reserved.