FXCM Guide – Read our In-Depth FXCM Review
FXCM Rating: 6.18 / 10
Our proprietary rating algorithm takes all of our datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones.
This FXCM review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this FXCM review does not apply to users in BR, KR, IR, IQ, SY, JP, US
If you're a new entrant in the realm of trading and brokerage, so many details will be perplexing for you. Getting into the area of trading requires expert analyzing skills and thorough understanding. You'll get adept at all the concepts of broker since you continue trading. For starters, you need to select the ideal broker who will be transparent with you constantly.
In this fast-paced world of stock markets and trading, you'll need guidance to make correct decisions. A professionally direct investment program will generate hefty returns. FXCM is just one such stage that will take you along with your investment into great heights. It's important that you know all about FXCM before you trust them with your cash.
FXCM Review – Brief Summary
FXCM Telephone Number:
FXCM Email Address:
Financial Conduct Authority (FCA)
Number Of Clients:
10,000+ FXCM users and traders
FXCM Facebook Likes:
FXCM Twitter Followers:
FXCM Instagram Followers:
Losses can exceed deposits
|FXCM Telephone Number:|
|FXCM Email Address:|
|Regulated By:||Financial Conduct Authority (FCA)|
|Number Of Clients:||10,000+ FXCM users and traders|
|FXCM Facebook Likes:||0|
|FXCM Twitter Followers:||0|
|FXCM Instagram Followers:||0|
Losses can exceed deposits
Our full FXCM Review covers all you will need to learn about trading with FXCM. A fantastic agent can multiply your initial investments and give you favourable profits. If you would like to make profits, you must trade with a brokerage service that contrasts with your investment objectives.
There's absolutely no sure-fire way to guarantee profits; therefore, you should carefully assess your broker before you choose them. It is a frequent misconception that all brokers will be the same, but that's not true. Wrong judgment, initially, can set your investments in danger.
FXCM is a broker which has found its way successfully to the broker world. In this review, we've attempted to collate some of the important aspects of FXCM. This review can help you to understand whether FXCM is a fantastic fit for your own investments or not. We have tried to breakdown all of the features and charges for your convenience.
FXCM Review, Table Of Contents
- Who are FXCM?
- Benefits Of Trading With FXCM
- Everything you should know about trading with FXCM
- Is FXCM Safe To Trade With?
- FXCM Risk Disclaimer
- Pro's & Con's Of Trading With FXCM
- Compare Brokers Similar To FXCM
- Regulation And Licencing In More Detail
- FXCM Awards
- Minimum Deposit Required For A Live Account With FXCM
- FXCM Commission And Fees Explained
- Compare broker fees against FXCM
- FXCM Withdrawal Fees Explained
- FXCM Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With FXCM?
- Alternatives To FXCM
- Frequently Asked Questions About FXCM
Who are FXCM?
FXCM is a foreign exchange broker headquartered in United States and provides a range of instruments for online trading. Since its beginning in 1999, FXCM has emerged as a leading player in the field of online broker. FXCM includes a highly aggressive and full-featured trading site that's focused on currency, indices, metals, shares, commodities.
Over the past 22 years, FXCM has grown into one of the leading online brokers.
After establishing in 1999, their consumer base is becoming as big as 10,000+ clients.
FXCM is a favourite for many traders.. Our FXCM review found that they're an superb choice for automated trading options. They're best suited for investors who are looking for an assortment of assets. Social and automated trading solutions are the heart at FXCM.
Technology plays a substantial role at FXCM. FXCM features trading on MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps. FXCM is fair, transparent, and also a well-regulated broker by the Financial Conduct Authority (FCA). Their outstanding variety of resources will be beneficial for most traders. Third-party partnerships also supply in-house research.
The educational department at FXCM is quite insightful for new dealers as it permits them to have a closer look at the financial markets. FXCM caters to all sorts of traders and are a must-have broker for almost any well-diversified approach to trading.
If you feel that FXCM is not right for you then at the bottom of this FXCM review you wil find a lot of alternatives to FXCM.
Everything you ought to know about trading with FXCM
FXCM is a dynamic platform that offers various procedures of trading online. These instruments cover the financial markets considerably. The Majority of the broker platforms offer less methods than FXCM
If you wish to trade with FXCM, you will require a minimum deposit of $1. This deposit is mandatory if you want to begin trading with FXCM. This 2021 FXCM review will guide you clearly about trading with them.
FXCM is as flexible as any other broker platform. FXCM is excellent for traders who want a manageable range of low-cost services. The programs provided by FXCM are third party, white-label offerings. All traders can choose from MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps.
Along with everything, FXCM has multiple benefits to new and verteran traders and should be investigated. There is no minimum time over which a trade has to be kept available. The brokers offer premium client service which rewards clients with advantages.
Many unethical brokers attempt to pressurise consumers into larger funding for premium services. FXCM, on the other hand, is much more focused on trading volume. Dealers can expect trading conditions to be fair, honest and transparent. The more lots traded by the user, the further advantages will come along.
FXCM accounts are available all over the world and provides outstanding service wherever they have customers. There are only a select few countries where FXCM accounts are not available. Traders in the following countries cannot open or use a FXCM account:
BR, KR, IR, IQ, SY, JP, US
Is FXCM Safe To Trade With?
Established in 1999, FXCM has been open for 22 years, they are headquarted in United States.
FXCM is regulated by Financial Conduct Authority (FCA). These bodies have rules that mandate that trading platforms have steps in place to maintain investor's resources secured. This means that FXCM users do not need to be worried about their money as it's segregated and safely kept in established banks. SSL encryption secures every user's personal information as well.
You are able to make use of a choice for 2 Factor Authentications (2FA) with FXCM for heightened security. An SMS for the verification code will be sent to your phone. You will be asked to input this code to log in to your accounts.
Another concern with financial brokers is in respect to security might be manipulation of trading. This is highly disadvantageous for users on these platforms. However, this is more prevalent in the example of Market Maker agents who compete with customers on the stage.
FXCM Risk Disclaimer
Losses can exceed deposits
Pro's & Con's Of Trading With FXCM
Every online trading platform will have some pros and cons FXCM review would be complete without showing both sides. This FXCM review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- FXCM is trusted by 10,000+ clients
- FXCM has low minimum deposit requirements
- FXCM doesn't charge withdrawal fees
- FXCM doesn't charge inactivity fees
- FXCM doesn't charge deposit fees
- FXCM doesn't charge CFD fees
- FXCM offer trading on MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps
- FXCM offer 100 trading instruments
- FXCM trades major forex pairs
- FXCM trades minor forex pairs
- FXCM trades exotic forex pairs
- FXCM can communicate in English, and Chinese
- FXCM does not offer Negative Balance Protection
- FXCM does not offer Guaranteed Stop Loss
- FXCM doesn't offer trading on cryptocurrencies
- FXCM doesn't offer social trading
- FXCM doesn't offer copy trading
- FXCM doesn't offer trailing stop
FXCM Review - Compare Brokers Similar To FXCM
|FXCM||multibank exchange group||orbex||zulutrade|
|Rating||6.18 / 10||4.6 / 10||4.55 / 10||6.25 / 10|
|Regulated By||Financial Conduct Authority (FCA)||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F282||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F291||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F334|
|Find Out More|
|Risk Warning||Losses can exceed deposits||Your capital is at risk||Your capital is at risk||Your capital is at risk|
FXCM Review - Regulation And Licencing In More Detail
FXCM is regulated by Financial Conduct Authority (FCA).
FXCM, as a business, has a strong set of rules for ensuring honest trading onto its own platform. For information encryption functions, it provides an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, client data is never to be shared with some other institutions or individuals. This includes credit history and other financial information.
FXCM Review - AwardsAt the time of writing this FXCM review, and despite FXCM’s impressive offering, the company has surprisingly not garnered any other awards to date.
FXCM Trading Platforms
FXCM are a professional trading platform that has been operating for over 22 years. They offer a large range of options in their customer accounts.
In the following table we take the main parts of any good broker and compare FXCM against multibank exchange group, orbex, and zulutrade
FXCM Review - Minimum Deposit Required
The minimum deposit that you must deposit to begin on FXCM is $1. This is an adequate amount for those just starting out. You can create more advanced residue as you cooperate. However, ensure that you understand how to make the most of your money before investing larger amounts.
FXCM Review - Commission And Fees Explained
FXCM is an online broker platform, and many online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the businesses of online brokerages are scaled better. That is, an online broker isn't necessarily affected by the number of clients they have.
However, this doesn't necessarily mean that online brokers don't charge any fees. They charge prices of varying rates for a variety of services to earn money. There are primarily three types of fees for this objective.
The first kind of charges to keep an eye out for are trading charges. Whenever you make an actual trade, like buying a stock or an ETF, you're charged trading fees. In such cases, you are spending a spread, financing rate, or even a commission. The sorts of trading fees and the rates differ from broker to broker.
Commissions could be fixed or dependent on the traded volume. On the other hand, a spread refers to the difference between the buying and selling cost. Funding or overnight prices are those who are charged when you hold a leveraged position for longer than daily.
Apart from trading fees, online brokers also bill non-trading fees. These are dependent on the activities you undertake in your accounts. They're charged for things like depositing cash, not investing for long periods, or withdrawals.
In general, FXCM doesn't charge high fees in comparison to other online brokers. For operations other agents fee for, they either do not charge a brokerage fee, or they charge a lesser amount. This is beneficial for people who often trade, such as daily or weekly trading.
However, non-trading fees charged by FXCM are relatively greater. As a result, you're charged more for non-trading activities on your trading accounts, such as withdrawal and deposits. These aren't related to the sale and purchase of resources.
This FXCM review breaks down every one of the relevant non-trading fees for you in detail.
Compare broker fees against FXCM
FXCM Review - Withdrawal Fees ExplainedFXCM doesn't charge withdrawal fees
Withdrawal of money is possible at any moment from the FXCM account. It's possible to draw up sums to the sum of your account balance, keeping aside the perimeter utilized. 1 thing to remember is that you don't always need to have any cash on your account.
Moreover, the withdrawn money will be moved directly to the account you use to make deposits. Therefore, if you used a credit card for deposits, the withdrawn cash is going to be sent into the card. FXCM will ask you to offer other withdrawal methods in case your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you are withdrawing money in various currencies from USD, a conversion fee is also important. The conversion fee will be dependent on the currency you're opting to draw in.
FXCM Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is one of the buzzing questions that run through your head when open an account with FXCM. An inactivity fee is an amount charged to registered dealers that haven't engaged in buying or selling for some time. The period regarded as inactive is determined by the agent.
The inactivity fee differs from one agent to another and is not standardized. If a dealers account doesn't have a buying or selling transaction, it is claimed by the broker as an inactivity charge. The traders need to pay this fee under terms and conditions that they had consented while enrolling.
FXCM doesn't charge inactivity fees so you are free to use your account as needed
Even if no fees are indicated by FXCM, it is better that you close the account if you're inactive. Inactivity fees aren't only charged by broker firms but also many financial services.
For additional trading platforms, the inactivity fee is contingent on the sort of account you've chosen. The inactivity fee is exposed to a lot of circumstances and should be disclosed clearly by the broker beforehand.
FXCM Review - Deposit Fees Explained
When you transfer money in your trading account by the bank account, a deposit fee can be charged by the broker. Most brokers do not charge too much money for this particular operation.
FXCM doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing cash on the FXCM trading platform is simple. You just have to complete a single-user profile questionnaire to start depositing money into your trading account. You'll have to provide an identity proof and evidence of residency to deposit substantial sums.
FXCM Review - Compare Broker Deposit Methods
What Can You Trade With FXCM?
Note: FXCM offers a lot of different trading instruments due to regulatory restrictions in some countries. Trading instruments offered may be different depending on the country of residence of the client.
FXCM has a wide variety of over 100 instruments available for you to trade with.
If trading forex pairs is of interest to you then FXCM offer over 50 currency pairs.
Compare FXCM, multibank exchange group, orbex & zulutrade below.
Reviewing The FXCM Mobile App
Note: FXCM's mobile app has many functions and is being constantly improved. The below information was correct at the time of writing this FXCM review.
Understand the capabilities of the mobile apps of FXCM, multibank exchange group, orbex & zulutrade below.
Alternatives To FXCM
If, after reading this FXCM review, they do not quite fulfill your needs check out these FXCM alternatives.
We've scoured the internet to find the best alternatives to FXCM. Click the links below to find out more.
Frequently Asked Questions about FXCM
Can I try FXCM before I buy?
Yes, you can most certainly try FXCM before you buy. FXCM offers demo accounts for the ease of inexperienced traders. You can use this feature to build your faith in the system as well as yourself and your trading strategies.
If you sign up for a demonstration account on FXCM, you may set out with a decent amount of virtual currency. It is to establish a sense of security and confidence in you before you decide to spend your own money.
With this virtual FXCMdemo account, you can experiment at all, to whatever period you wish. You might also start positions, examine different trading approaches, and more.
FXCM specifies on its official site that you are able to exchange real time stocks in a demo account.
Is FXCM safe?
It is possible to drop all your worries because we believe that FXCM is perfectly safe to use. It's in compliance with the principles of Financial Conduct Authority (FCA).
Nevertheless, FXCM does not provide assured stop-loss protection.
Why does FXCM ask for my passport?
The reason that FXCM asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, FXCM has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, FXCM must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with FXCM?
The process to start trading withFXCM is perhaps simple enough to be a cakewalk. You need to begin by signing up on the FXCM website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live account with FXCM is $1. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with FXCM.
The best way to kickstart your trading career with FXCM is to open a demo account facility before risking any real money
What funding methods do FXCM accept?
There are a number of ways to fund your accounts with FXCM. The process is effortless and quick, with various payment methods in your fingertips.
You can use debit or credit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing money. You have to bear in mind that PayPal isn't available in every place. The monies FXCM
Is my money safe with FXCM?
Yes, your cash is safe and protected with FXCM. As you already know, FXCM works with proper conformation to. It's established lots of measures to protect all its own investors.
FXCM safeguards its clients' private and sensitive information under SSL encryption. Your capital will be retained highly secure in top-tier banks.
If you want to further protect your account, you can empower Two-Step Verification also. It requires an SMS affirmation that you access your accounts.
Is FXCM trading good?
Yes, trading via FXCM is a nice and good experience indeed. It is a great and intuitive platform with useful features for your ease. In addition, you can also obtain access to a vast collection of educational tools and assistive material to kickstart your trading expertise.
If you are still skeptical, it is possible to open a eToro demo account and assess the trustworthiness of the platform on your own.
Which Countries does FXCM support?
FXCM operates across the world. However, due to regulations there are some countries that FXCM does not accept clients resident in BR, KR, IR, IQ, SY, JP, US
Is FXCM legit?
FXCM is a legit company headquarted in United States since 1999. They are regulated by Financial Conduct Authority (FCA). FXCM is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is FXCM a good broker?
FXCM is an excellent broker, and its users may vouch for this. The highlight of the platform is its quick order execution on trades.
You'll discover the clean design of this platform and the admirable features a pleasure to work with.
Is FXCM a trustworthy broker?
Yes, FXCM is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for FXCM?
The minimum deposit to open a live account with FXCM is $1
How long do FXCM withdrawals take?
Normally, withdrawal of money from FXCM is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from FXCM to show in your bank account.
Are FXCM regulated?
FXCM are regulated by Financial Conduct Authority (FCA)
Is FXCM a market leading broker?
FXCM is indisputably among the business leaders. It has over 10,000+ registered users and over 22 years of expertise on its record. They are one of the world's top trading platforms and also a prominent figure in the Fintech revolution.
It simplifies this status to its unbelievable platform and broad selection of resources plus tools so you may invest in capital markets.
Is FXCM a con?
No, FXCM is not a con. They are regulated by Financial Conduct Authority (FCA) and must adhere to their rules. Thus, it is safe to say that FXCM is not a scam.
Can you make money with FXCM?
Through FXCM, many traders make a lot of cash. However, on average, through consistent trading, you also can make between 2% - 10% profit a month.
This can look to be a little number, but over the entire year, this adds to a substantial amount of gains. While FXCM supply you all of the tools to make money, they can't guarantee that you will profit.
Does FXCM have fees?
Yes. To start trading with FXCM, you need to deposit $1. Particular commissions while trading also apply. Any processing fees from your bank will have to be incurred by you.
When was FXCM founded?
FXCM was founded in 1999 in United States. FXCM is regulated by Financial Conduct Authority (FCA).
How many people use FXCM?
FXCM is a worldwide recognised agent with 10,000+ customers.
Where is the FXCM head office?
FXCM has its head office in United States
Does FXCM offer negative balance protection?
No. FXCM does not offer negative balance protection. If your balance is unfavorable, FXCM indicates you promptly contact customer services. For this, you are able to correct any imbalances within your own account.
Does FXCM offer guaranteed stop loss?FXCM unfortunately, doesn't offer guaranteed stop loss. FXCM provides an opportunity for its dealers to close their trades in their specified price. Apart from this, FXCM does not provide guaranteed stop loss.
Does FXCM allow scalping?Yes, FXCM do allow scalping. Many traders throughout the world choose FXCM for their scalping services. They offer trading on MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps which let this.
Does FXCM allow hedging?
Yes, FXCM does allow hedging.
Can you trade energies with FXCM?
Yes, you can trade energy stocks with FXCM
Can you trade agricultural shares with FXCM?
No, unfortunately you cannot trade agricultural stock with FXCM
Can you trade cryptocurrency with FXCM?
No, unfortunately you cannot trade cryptocurrency with FXCM
Can you trade metals with FXCM?
Yes, you can trade metals with FXCM
Can you trade UK Shares with FXCM?
No, unfortunately you cannot trade UK shares with FXCM
Can you trade US Shares with FXCM?
No, unfortunately you cannot trade US shares with FXCM
Can you trade Japanese Shares with FXCM?
No, unfortunately you cannot trade Japanese shares with FXCM
Can you trade German Shares with FXCM?
Yes, you can trade German shares with FXCM
Does FXCM accept bank transfers?
Yes, FXCM accepts bank transfers for depositing money.
Does FXCM accept credit cards?
Yes, FXCM accepts credit cards for depositing money.
Does FXCM accept PayPal?
No, FXCM does not accept PayPal.
Does FXCM accept Skrill?
No, FXCM does not accept Skrill.
Does FXCM accept Payoneer?
Yes, FXCM accepts Payoneer for depositing money.
Does FXCM accept Neteller?
No, FXCM does not accept Neteller.
Does FXCM offer Live Chat customer support?
Yes, FXCM offers customer support through live chat.
Does FXCM offer phone customer support?
Yes, FXCM offers customer support over the telephone.
Does FXCM offer email customer support?
Yes, FXCM offers customer support through email.
What languages can FXCM communicate in?
FXCM has the ability to communicate and support customers who speak: English, and Chinese
Does FXCM have a wikipedia page?
No, FXCM does not have an official wikipedia page.
Does FXCM offer demo accounts?
Yes, FXCM offers virtual portfolio accounts so you can test your trading strategies before risking any real capital. Newbie traders can open a demo account in order to better understand the areas of Forex trading and test out some of FXCM's features before risking a live account.