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FXCM Guide – Read our In-Depth FXCM Review

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 US users.

This FXCM review contains the latest information about FXCM.

If you are a new entrant in the world of trading and broker, so many details will be perplexing for you. Getting into the area of trading requires expert analyzing skills and comprehensive understanding. You will acquire adept at all of the concepts of brokerage as you keep trading. For starters, you need to choose the ideal broker who will be transparent with you constantly.

Within this fast-paced world of stock markets and trading, you will need advice to make proper decisions. A professionally direct investment plan will create hefty returns. FXCM is one such stage that will take you and your investment to great heights. It is crucial to understand all about FXCM until you trust them with your money.

FXCM review

Our entire FXCM Review covers everything you need to learn about trading using FXCM. A fantastic agent can multiply your initial investments and give you positive profits. If you would like to make profits, you must trade with a broker service that contrasts with your investing goals.

There is no sure-fire method to guarantee profits; therefore, you must carefully assess your agent before you choose them. It is a common misconception that all brokers will be exactly the same, but that is not true. Wrong judgment, initially, can put your investments at risk.

FXCM is a broker that has paved its way successfully into the brokerage world. In this review, we have tried to collate some of the vital facets of FXCM. This review can allow you to know whether FXCM is a good fit for your investments or not. We've attempted to breakdown all the features and charges for your advantage.

FXCM Review, Table Of Contents

Who are FXCM?

FXCM is a forex broker headquartered in United States and provides a variety of tools for online trading. Since its beginning in 1999, FXCM has emerged as a top player in the industry of online broker. FXCM has a highly competitive and full-featured trading site that's focused on forex, indices, metals, shares, commodities.

Over the past 22 years, FXCM has grown into one of the leading online brokers.

After establishing in 1999, their client base is becoming as big as 10,000+ clients.

FXCM is the favorite for many dealers.. Our FXCM review discovered that they're an superb alternative for automated trading solutions. They're most appropriate for investors that are looking for a variety of assets. Social and automated trading options are the core at FXCM.

Technology plays a substantial role at FXCM. FXCM offers trading on MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps. FXCM is honest, transparent, and also a well-regulated broker by the Financial Conduct Authority (FCA). Their outstanding array of tools will be beneficial for most traders. Third-party partnerships also provide in-house research.

The educational section at FXCM is quite enlightening for new traders as it allows them to have a closer look in the financial markets. FXCM caters to all sorts of traders and are a must-have broker for any well-diversified approach to trading.

Benefits of trading with FXCM?

Trading with FXCM includes many benefits. These advantages are what sets FXCM apart from the rest of the online brokers. You should check all the advantages listed so you have a better understanding of FXCM.

The agent goes to great lengths to comprehend what traders need. As a result, the service price is low, quick, and convenient. The broker also gives a variety of platforms for all kinds of traders. FXCM helps to ensure that the individual needs of all traders are duly met.

FXCM also includes excellent trading conditions that are available to just an elite class of institutional customers. The tight spreads and fast executions are a fantastic benefit for those traders. The technology adopted by FXCM is among the highest caliber, making sure that it's fast, dependable, and effective.

FXCM admits the significance of owning a fast order execution. A fast implementation enables users to exchange without fretting about slippage safely. It is going to also aid the traders to catch the maximum profitable opportunities.

Automated trading is another major facet of FXCM. A new dealer can learn from business experts using the automatic trading option. The tight spread begins from as low as 0.0 pips, even though they are available for only razor balances.

FXCM has over 100 trading tools to support all types of traders. These instruments are dynamic and convenient for both the new and seasoned traders. The traders can put aside all their worries when trading using FXCM.

FXCM overview

Year Founded: 1999

Regulated By: Financial Conduct Authority (FCA)

Hedquarters: United States

Minimum Deposit: $1

Number Of Clients: 10,000+

Losses can exceed deposits

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.

What you should know about trading using FXCM

FXCM is a dynamic platform that provides various methods of trading online. These instruments cover the monetary markets substantially. The Majority of the broker platforms offer fewer approaches than FXCM

If you want to exchange with FXCM, you'll require a minimum deposit of $1. This deposit is required if you would like to start trading using FXCM. This 2021 FXCM review will direct you easily about trading with them.

FXCM is as versatile as any other broker platform. FXCM is ideal for traders who want a manageable range of cheap services. The programs provided by FXCM are third-party, white-label offerings. All traders can pick 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 on which a transaction must be kept open. The brokers offer premium client service which rewards clients with benefits.

Many unprofessional brokers try to pressurise consumers into larger funding for premium services. FXCM, on the other hand, is much more concentrated on trading volume. Dealers can expect trading conditions to be just, honest and transparent. The more lots traded by the user, the more benefits will become available.

FXCM accounts are available all over the world and provides excellent service wherever they have customers. There are some select few countries where FXCM accounts are not available. Traders in the following countries cannot open or use a FXCM account:

Is FXCM Safe To Trade With?

Established in 1999, FXCM has been in operation 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 keep investor's resources procured. This means that FXCM users don't need to worry about their money as it is segregated and safely stored in established banks. SSL encryption simplifies each user's private information as well.

You can make use of an option for Two Factor Authentications (2FA) with FXCM for increased security. An SMS with the verification code will be sent to your phone. You'll be asked to input this code to log into your accounts.

Another concern with financial brokers is in respect to security might be manipulation of trading. This is highly disadvantageous to users on these platforms. Nonetheless, this is more prevalent in the case of Market Maker brokers who compete with users on the platform.

Pro's & Con's Of Trading With FXCM

Every online trading platform has some ups and downs, and no FXCM review would be complete without having a balanced approach. 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 Pro's

  • FXCM is trusted by 10,000+ clients
  • 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

FXCM Con's

  • FXCM does not offer Negative Balance Protection
  • FXCM does not offer Guaranteed Stop Loss
  • FXCM charge withdrawal fees
  • FXCM doesn't offer trading on cryptocurrencies

FXCM Review - Compare Brokers Similar To FXCM

FXCM CFI Markets eToro Caveo
Rating 4/5 4/5 4/5 4/5
Minimum Deposit $1 $100 $200 $0
Year Founded 1999 2012 2006 2016
Headquarters United States Cyprus Cyprus, UK variable
Regulated By Financial Conduct Authority (FCA) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), The Federal Financial Supervisory Authority Bundesanstalt f?r Finanzdienstleistungsaufsicht (BaFin) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA)
Clients 10,000+ 10,000+ 12,000,000+ 10,000+
Find Out More
Risk Warning Losses can exceed deposits Losses can exceed deposits 67% of retail investor accounts lose money when trading CFDs with this provider. Your capital is at risk

FXCM Review - Regulation And Licencing In More Detail

FXCM is regulated by Financial Conduct Authority (FCA).

FXCM, as a company, has a powerful set of rules for ensuring fair trading on its own platform. For data encryption purposes, it provides an industry-standard secure socket layer (SSL).

As per the company's privacy regulations, client information is to not be shared with some other institutions or individuals. Including credit history and other financial information.

FXCM Review - Awards

    At the time of writing this FXCM review, they had not received any awards.

FXCM Review - Minimum Deposit Required

The minimum deposit that you must deposit to begin on FXCM is $1. This is an adequate amount for people just starting out. It's possible to make more advanced deposits as you cooperate. However, make certain that you understand how to make the most of your money before investing in larger amounts.

FXCM Review - Commission And Fees Explained

FXCM is an online broker platform, and most online brokerages charge lower fees than traditional brokerages tend to bill. The reason for this is that the companies of online brokerages are scaled much better. That is, an online broker isn't necessarily influenced by the amount of customers they have.

However, this doesn't mean that online brokers do not charge any fees. They charge fees of varying rates for various services to earn money. There are mainly 3 different types of penalties for this objective.

The first sort of charges to keep an eye out for are trading charges. When you make a genuine trade, like buying a stock or an ETF, you are billed trading fees. In these instances, you are spending a spread, funding rate, or a commission. The kinds of trading fees and the rates differ from broker to broker.

Commissions could be fixed or dependent on the traded quantity. On the flip side, a spread denotes the difference between the buying and selling price. Financing or overnight prices are people that are charged when you maintain a leveraged position for longer than daily.

Apart from trading fees, online agents also charge non-trading fees. These are dependent on the activities you undertake on your account. They are charged for surgeries like depositing cash, not investing for lengthy periods, or withdrawals.

Generally, FXCM doesn't charge high fees compared to other online brokers. For operations other brokers fee for, they either do not charge a broker fee, or they charge a smaller amount. This can be beneficial for people who regularly trade, for example weekly or daily trading.

However, non-trading fees billed by FXCM are relatively competitive. Consequently, you are charged more for non-trading actions on your trading account, like deposits and withdrawal. These are not about the sale and purchase of assets.

This FXCM review breaks down every one of the relevant non-trading fees for you in detail.

Compare broker fees against FXCM

FXCM CFI Markets eToro Caveo
Minimum Deposit $1 $100 $200 $0
Withdrawal Fees variable No Yes 0
Inactivity Fees No Yes Yes
Deposit Fees No variable No
CFD Fees 0.08% per share charge per side No No

FXCM Review - Withdrawal Fees Explained

FXCM charges a withdrawal fee if you make a bank transfer. Every time you transfer money into your bank accounts, these withdrawal fees become applicable.

Withdrawal of money is possible at any time from your FXCM account. You can draw sums up to the amount of your account balance, keeping aside the perimeter used. 1 thing to remember is that you don't always need to have any cash in your accounts.

In addition, the withdrawn money will be transferred directly to the accounts you use to create deposits. Thus, in the event that you used a credit card for deposits, the withdrawn cash will be sent to the card. FXCM will ask you to offer other withdrawal methods if your details have changed since your deposit.

There is a minimum withdrawal amount. In the event you're withdrawing money in different currencies from USD, a conversion fee is also applicable. The conversion fee will depend on the currency you're opting to withdraw in.

FXCM Review - Inactivity Fees Explained

Understanding whether you will be charged inactivity fees is one of those buzzing questions which run through your mind when open an account with FXCM. An inactivity fee is an amount charged to registered dealers who have not participated in purchasing or selling for a while. The period considered inactive is determined by the agent.

The inactivity fee also differs from 1 broker to another and is not standardized. If a dealers account doesn't have a purchasing or selling transaction, it is claimed by the agent as an inactivity charge. The traders need to pay this fee under conditions and terms they had agreed while enrolling.

FXCM doesn't charge inactivity fees so you are free to use your account as needed

Even if no fees have been implied by FXCM, it's best that you close the account if you are inactive. Inactivity fees are not just 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 selected. The inactivity fee is subjected to a lot of circumstances and should be disclosed clearly by the broker beforehand.

FXCM Review - Deposit Fees Explained

When you move money in your trading account by your bank account, a deposit fee can be charged by the broker. Most brokers don't charge too much money for this operation.

FXCM doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed

Depositing money on the FXCM trading platform is easy. You simply need to complete a single-user profile survey to start depositing money into your trading account. You will have to give an identity evidence and evidence of residency to deposit substantial amounts.

FXCM Review - Compare Broker Deposit Methods

FXCM CFI Markets eToro Caveo
Minimum Deposit $1 $100 $200 $0
Credit Card Yes
PayPal Yes
Neteller Yes
Skrill Yes
Payoneer Yes

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 based 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 currency pairs is of interest to you then FXCM offer over 50 currency pairs.

Compare FXCM, CFI Markets, eToro & Caveo below.

FXCM CFI Markets eToro Caveo
Platforms MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps MT4, Mac, Tablet & Mobile apps Web Trader, Tablet & Mobile apps IRESSTrader, IRESSInvestor, netIRESS, XPLAN
Instruments Available 100 100 100 69
Forex & Crypto
Forex Pairs Available 50 30 50
Offers Major Forex Pairs? Yes Yes Yes Yes
Offers Minor Forex Pairs? Yes Yes Yes No
Offers Exotic Forex Pairs? Yes Yes Yes Yes
Offers Cryptocurrencies? No No Yes Yes
Commodity CFD's
Commodities Offered 0 0 0 0
Trade Metals? Yes Yes Yes Yes
Trade Energies? Yes Yes Yes Yes
Trade Agricultural? No No Yes Yes
Indiced & Stock CFDs
Stocks Offered 0 0 0 0
Trade UK Shares? No No Yes No
Trade US Shares? No No Yes Yes
Trade German Shares? Yes No Yes No
Trade Japanese Shares? No Yes Yes No


Losses can exceed deposits


Losses can exceed deposits


67% of retail investor accounts lose money when trading CFDs with this provider.


Your capital is at risk

Alternatives To FXCM

If, after reading this FXCM review, FXCM doesn't fulfill your requirements check out these FXCM alternatives.

We've scoured the internet to find the best alternatives to FXCM. Click on the hyperlinks below to find out more.

Frequently Asked Questions about FXCM

Can I try FXCM before I buy?

Yes, you can most definitely try FXCM before you buy. FXCM offers demo accounts for the ease of new traders. You may use this feature to build your faith in the machine and yourself and your trading strategies.

If you register for a demonstration account on FXCM, you will set out with a decent amount of virtual money. It's to establish a sense of safety and confidence in you until you choose to spend your own money.

With this virtual FXCMdemo account, you can experiment in any way, to whatever period you wish. You might even start positions, test different trading approaches, and much more.

FXCM specifies on its official website which you can trade real time stocks in a demo account.

Is FXCM safe?

It is possible to drop all of your worries since we believe that FXCM is totally safe to use. It is in compliance with the principles of Financial Conduct Authority (FCA).

Nevertheless, FXCM doesn't 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 acocunt 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 multiple ways to finance your account with FXCM. The process is effortless and quick, with various payment methods at your fingertips.

You can use credit or debit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You must keep in mind that PayPal isn't available in all country. The currencies FXCM

Is my money safe with FXCM?

Yes, your cash is safe and protected with FXCM. As you know, FXCM works with proper conformation to. It has established lots of measures to guard all of its investors.

FXCM safeguards its clients' private and sensitive data under SSL encryption. Your capital will be retained highly secure in top-tier banks.

If you want to further protect your accounts, it is possible to enable Two-Step Verification also. It requires an SMS affirmation for you to get your account.

Is FXCM trading good?

Yes, trading via FXCM is a nice and decent experience indeed. It's a great and intuitive platform with useful features for your simplicity. In addition, you could even gain access to a vast selection of educational tools and assistive material to kickstart your trading experience.

If you are still skeptical, you can start a eToro demo account and assess the credibility of the platform for yourself.

Which Countries does FXCM support?

FXCM operates around the globe. However, due to regulations there are some countries that FXCM can't accept clients from

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 a great agent, and its users may vouch for it. The highlight of the platform is its quick order execution on trades.

You will find the clean layout of this platform and the commendable features that 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 one of the industry leaders. It has over 10,000+ registered users and over 22 years of expertise on its own record. They are one of the world's top trading platforms and also a dominant figure in the Fintech revolution.

It majorly owes this status to its incredible platform and wide range of resources plus tools so that you can 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?

Using FXCM, several traders make a lot of cash. However, typically, through consistent trading, you can make between 2% - 10% profit a month.

This can look to be a little number, but over the year, this adds to a significant amount of gains. Even though FXCM provide you all of the tools to make money, they cannot guarantee you will profit.

Does FXCM have fees?

Yes. To start trading with FXCM, you have to deposit $1. Certain commissions while trading also apply. Any processing fees from your bank will need 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 globally recognised agent with 10,000+ clients.

Where is the FXCM head office?

FXCM has its head office in United States

Does FXCM offer negative balance protection?

No. FXCM does not provide negative balance protection. If your balance is unfavorable, FXCM suggests that you promptly contact customer services. For this, you can fix any imbalances in your own account.

Does FXCM offer guaranteed stop loss?

FXCM regrettably, doesn't provide guaranteed stop loss. FXCM provides a chance to its traders to close their trade in their specified price. Apart from that, FXCM does not provide guaranteed stop loss.

Does FXCM allow scalping?

Yes, FXCM do allow scalping. Many traders across the world choose FXCM due to 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?

No, unfortunately you cannot trade German shares with FXCM

Does FXCM accept bank transfers?

No, FXCM does not accept bank transfers.

Does FXCM accept credit cards?

No, FXCM does not accept credit cards.

Does FXCM accept PayPal?

No, FXCM does not accept PayPal.

Does FXCM accept Skrill?

No, FXCM does not accept Skrill.

Does FXCM accept Payoneer?

No, FXCM does not accept Payoneer.

Does FXCM accept Neteller?

No, FXCM does not accept Neteller.

Does FXCM offer Live Chat customer support?

No, FXCM does not offer customer support through live chat.

Does FXCM offer phone customer support?

No, FXCM does not offer customer support over the telephone.

Does FXCM offer email customer support?

No, FXCM does not offer customer support through email.

What languages can FXCM communicate in?

FXCM has the ability to communicate and support customers who speak:

Does FXCM have a wikipedia page?

No, FXCM does not have an official wikipedia page.

Does FXCM offer demo accounts?

Yes, FXCM offers demo accounts so you can learn their systems before risking any real money.