FXCM Review

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FXCM Broker Review
GENERAL INFORMATION
Broker NameFXCM
Broker TypeForex
CountryUnited Kingdom
Operating Since1999
RegulationFATCA-Foreign Account Tax Compliance Act
Address0 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom
Broker StatusRegulated
CS Phone1800 1110 1237
CS Emailinfoasia@fxcm.com
LanguagesEnglish, China, Dutch, French, Italian, Spanish, Bahasa, Malaysian, Vietnamese, Hebrew, Greek,
Availability24/5
Trading PlatformsTrading Station, MetaTrader4
WEB TERMINAL
Trading Platform TimezoneN/A
Demo AccountYes
Mobile TradingYes
Web based tradingYes
BonusesN/A
Other Trading InstrumentCryptocurrency
ACCOUNTS
Minimum Deposit50
Maximal Leverage1 is to 400
Spread Variable1.6 pips
Scalping AllowedN/A

FXCM REVIEW CONTENT:

  1. FXCM INVESTOR REGULATIONS AND PROTECTION
  2. RELIABILITY
  3. FXCM’S NOTABLE FEATURE/S: TRADING STATION
  4. TRADABLE PRODUCTS
  5. ACCOUNT OPENING
  6. WEB AND DESKTOP TRADING PLATFORMS
  7. MOBILE TRADING PLATFORMS
  8. RESEARCH AND EDUCATION
  9. FXCM REVIEW: CLIENT SUPPORT
  10. FXCM REVIEW: What do we think?
Comments Rating 1.84 (114 reviews)

FXCM logo

FXCM REVIEW

FXCM belongs to a generation of brokers who keep themselves updated with the latest trends on the market. That’s what good brokers do.

FXCM has been brokering trades for almost two decades – and we’re sure it’s up for a long haul. Surviving the industry for that long tells you that this broker knows what to do for clients. Years and years of experience solidified FXCM’s performance.

Established in 1999, FXCM Group is a universal online forex and CFD business brand. In the UK, the FXCM brand is overseen by FXCM Ltd. The organization is situated in the UK, and its administrative center is located at 20 Gresham Street, on the fourth floor, in London EC2V 7JE, United Kingdom.

The financier firm additionally keeps up workplaces in a few purviews, for example, Australia and South Africa. The merchant is notable in the web-based exchanging network for enduring huge misfortunes when the Swiss franc was unpegged from the US dollar in 2015. Having recouped from the emergency, FXCM today is centered around taking into account the exchanging needs of both apprentice brokers and experienced merchants.

FXCM

It offers a lot of notable features, but the most remarkable among them is its own trading platform called “Trading Station.” Of course, it also offers the MetaTrader4, but why stick to one choice, right?

Let’s take a more detailed look at its features.

FXCM INVESTOR REGULATIONS AND PROTECTION

As far as administrative oversight, FXCM Ltd is managed by the UK’s Financial Conduct Authority (FCA). The FCA is one of Europe’s driving money related to administrative offices and is profoundly viewed as offering an elevated level of assurance to dealers.

FXCM

What’s more, like a managed substance of the FCA, UK customers of FXCM are additionally secured under the Financial Services Compensation Scheme (FSCS) up to a limit of 50,000 pounds. FXCM Ltd is enlisted and approved by a few other administrative organizations because of European passport laws, including AMF, BaFin, CONSOB, just as in Australia by ASIC.

RELIABILITY

FXCM is a notable brand. The agent endured difficulty to its notoriety in the US in 2017. FXCM has all the earmarks of being buckled down towards revamping its image. Truth be told in the course of the most recent few years, FXCM has won a few honors bearing declaration to its responsibility in recovering its notoriety among the web-based exchanging network. For instance, it was named by FXEmpire as having the “Best Customer Support” in 2017.

FXCM’S NOTABLE FEATURE/S: TRADING STATION

FXCM offers the MT4 trading which is already excellent by itself. This broker adds a boost to your trading experience by providing its very own platform – the so-called “Trading Station.

Trading Station offers many advanced functionalities that FXCM traders love. You can use it on the web through a desktop computer, or you can install it on your mobile. There are tons of things you can do with Trading Station.

FXCM

For instance, the Trading Station Desktop provides more advanced tools. Technical traders can take advantage of robust analytical tools and automated trading capabilities. FXCM’s Trading Station also supports:

  • Preloaded Trading Strategies
  • Advanced Back-testing Functions
  • Strategy, History, and Analysis Tools

Trading Station is also compatible with mobile devices, whether it runs on Android or iOS. This means trading is more accessible even when you’re on the go. You can also:

  • View live streaming rates
  • Place and manage orders
  • Access charts
  • Analyze news and reports.

Of course, if you don’t think you’re ready to try a new trading platform, good ol’ MT4 is also available. It’s downloadable on the FXCM website.

FXCM

For those who are unfamiliar, MT4 is the trading standard for forex traders. You can do your trades over the platform whenever you want and wherever you are.

TRADABLE PRODUCTS

As far as for negotiable items, FXCM offers to exchange the spot forex markets, cryptographic forms of money, Treasury security (the bund), and Contract for Difference (CFDs) for showcase lists and wares. UK customers additionally have a favorable position to partake in spread wagering on money sets. FXCM offers six different classes of assets in total across two cryptos, 13 indices, 39 currency pairs, metal, nine commodities, and one treasury.

FXCM

ACCOUNT OPENING

FXCM offers an accessible 3-step account opening system with a low minimum deposit requirement. Traders will be able to choose from two main accounts: Standard account and Active Trader account.

Here’s a shortlist of everything both account offer:

STANDARD ACCOUNT
  1. Access to 3 precious metals, 39 currency pairs, CFD’s, 13 indices, and nine commodities.
  2. The leverage ratio of 1:30
  3. A minimum deposit of USD 50
  4. MT4 trading platform and FXCM Trading Station
  5. Comprehensive educational package
  6. Spreads at 1.3 pips EUR/USD

FXCM

ACTIVE TRADER ACCOUNT (for high volume traders; account available on application only)
  1. Market Depth and API Trading
  2. Spreads at 3.3 pips for  EUR/USD
  3. eFXplus derived-data service (DDS) premium subscription
  4. Reduced trading cost
DEMO ACCOUNT

In addition to the two tradings, as mentioned in previous accounts, FXCM has also provided its clients with a practice demo account. It takes one minute to sign up for a demo account, which is funded with £50,000 virtual money.

WEB AND DESKTOP TRADING PLATFORMS

For exchanging stages, FXCM has furnished its customers with a decision of a few exchanging scenes; for example, the MetaTrader 4 (MT4), Ninja Trader, and ZuluTrade exchanging stages. Anyway, the pillar of FXCM’s exchanging stage is the restrictive Trading Station. The FXCM Trading Station is accessible as a work area and as an electronic exchanging stage.

MT4

The distinction between the two is the way that the last doesn’t require any product download and establishment. Access to the Trading Station Web is through any type of internet browser: Chrome, Mozilla, Opera, Safari. Web and Desktop FXCM trading platforms offer:

  1. Overall, the design of the Trading Station interface is well executed and user-friendly
  2. Offers multiple order types and real-time prices
  3. Provides dozens of preloaded indicators
  4. Email alerts and notifications

MOBILE TRADING PLATFORMS

FXCM has also provided traders with a mobile-optimized trading platform. The mobile trader enables users to keep track of current market conditions, place trades, or manage their accounts regardless of where they are. The mobile app may appear quite different from the desktop platform. It certainly is suitable to perform well rather than just being mobile-friendly.

MOBILE TRADING PLATFORMS

In terms of trading features, FXCM provides traders with a secured trading environment. Here are all the platforms and apps that FXCM offers its clients.

NinjaTrader – NinjaTrader is a software platform that specializes in the trading of futures, stocks, CFDs, and forex products. It provides FXCM traders with a wide range of assets and also opens them to build their trading strategies.

Quant Connect – This is a platform for algo traders. They’ll be able to connect in a source-sharing community. The platform is available on both Mac and Windows. It allows traders to focus on strategy development through the use of its back-tester.

Zulutrade – ZuluTrade is a peer to peer trading platform. Traders don’t need to build their trading strategies; instead, they can copy the approach of other experienced trade experts.

FXCM App Store – FXCM Apps is an online marketplace. Traders can find trading apps for news, trend, and range traders.

RESEARCH AND EDUCATION

One of the significant advantages of trading with FXCM is the quality of research. FXCM has ensured that its brokers are consistently on the most recent advancements in the market. They do this by giving them extra exchanging instruments like a financial schedule, market news, live forex graphs, free day by day pamphlet including market features, showcase scanner, and administrations like Trading Signals, Trading Analytics, and Technical Analyzer.

RESEARCH AND EDUCATION

For trading education, FXCM has provides users with an abundance of instructive assets. Resources are accessible in the informative area include preparing recordings, exchanging guides, workshops, online classes, and live classes. The instructive assets cover a broad scope of subjects and are extensive enough to give learners enough establishment to assist t=-[0P9OIUJHBm with beginning exchanging on the correct balance.

FXCM REVIEW: CLIENT SUPPORT

“24/5 client assistance through different channels.

The client service administration at FXCM is given on a 24/5 premise. Traders can connect with the help group through email, Live chat, SMS message, or a direct call. Global customers can call FXCM on a limited number if they are situated in the accompanying nations: Australia, France, Canada, Germany, Greece, Hong Kong, South Africa, UK, Italy, Israel.

Overall, the reaction of the help group is exemplary.

FXCM REVIEW: What do we think?

FXCM is notably secure and up-to-date.

It’s always in the loop with the latest market developments, giving FXCM clients a head start whenever they trade. We think you’ll never miss a beat when it comes to market developments, new trade technologies, and strategies. Overall, FXCM has been offering its users a fulfilling and pleasant trading experience on its platform.

More importantly, you’re secure with this broker. The two decades it has spent in the market is something not many other online brokers can achieve. Longevity means they’re stable. FXCM offers the trading of currencies (majors and exotics), indices, cryptocurrencies, and commodities. They have a selection of platforms as well as a unique algo trading.

Additionally, this broker is under the wings of Leucadia Investments. In case you don’t know, Leucadia is also the name of Jefferies Financial Group. Also, it’s a public financial services company in New York and among the top names in Wall Street. Need we say more?

Overall, FXCM is an excellent broker where you can entrust your money. You can rest assured your funds are safe. Efficient trading platforms, current services, and secure trading – this is what makes a great broker.

In the end, we hope this FXCM review was helpful, and we wish you good luck trading!

FXCM
  • Support
    (3)
  • Platform
    (3)
  • Spreads
    (3.5)
  • Trading Instrument
    (4)
Overall
3.4

For more news updates, visit our homepage now and see our latest news article. Want to learn more about trading? Visit our education page now and learn for FREE!

114 Comments

  1. Avatar Zac Tipping September 24, 2020
  2. Avatar Ellie Amiet September 22, 2020
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