FXCM Review 2023: Get Our Complete Guide on FXCM Broker

Limited is regulated by the ASIC, FXCM Germany is partially regulated by BaFin, and FXCM Italy is subject to the control of CONSOB and FSCA authorization in South Africa. You can find a wealth of educational informaiton on the FXCM website as well as its YouTube channel. In addition to a YouTube channel and a complete library of trading videos, you can get a better idea of FXCM’s offerings from a tutorial video situated on its website. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.

fxcm review

It contains the same features you come to expect from the Trading Station platform, which also includes backtesting strategies and automated trading strategies. FXCM’s Trading ViewAdditionally, you can use the MT4 Web Access and the TradingView web access platforms. So if you prefer trading through your browser, then you have an abundance of options available. Spread betting provides tax-free profits and allows bettors to profit from rising or falling markets―without owning any of the underlying assets. FXCM is a multi-asset broker, this means they offer different assets that are allowed to be traded under one account. By using the effective spread chart provided, you can see they quote a 1 pip spread on average for EUR/USD, however, the effective spread over this time has been 0.4 pips.

Should you buy your silver bullets on FXCM?

Now I can’t speak for every experience, but FXCM certainly has the capacity to fulfil a service if you ever find yourself in a problem. This means you can do your complete analysis using the popular TradingView platform AND trade directly through the TradingView platform. You can place your trades and receive alerts through this app too, all syncing up with your FXCM account. Everything you see on TradingView is available on your mobile device, which is what makes it a very appealing trading tool.

I mainly congratulate the support team and their efficient management of customer requests. We are happy to fxcm review hear you are enjoying our service and we are looking forward to many more positive moments in the future.

FXCM no longer accepts U.S. clients because it had to pay $7 million in 2017 and give up its registration with the U.S. Commodity Futures Trading Commission for failing to disclose a deal with a market maker to its clients. The broker then sold its substantial number of U.S.-based accounts to Gain Capital that operates FOREX.com, so U.S.-based traders might consider using that broker instead. Also, institutional investors, retail brokers, emerging market banks and hedge funds can take advantage of FXCM Pro. This high-end broking service gives institutional clients excellent pricing and access to the forex and CFD markets.

FXCM Review

FXCM also supports multiple platforms for trading although they offer relatively fewer instruments. It operates with a significant number of client accounts which can select from various types of accounts, and access to very competitive spreads on different instruments. Deposits and withdrawals can be made through a variety of payment methods which facilitates the operation. It has excellent business functions easily adaptable to all types of traders.

  • FXCM is a Forex and CFDs broker offering CFDs trading and spread betting.
  • The stock exchange listing increases transparency, as the company publishes annual reports.
  • For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.
  • They said they give high spreads to people who trade more frequently but my strategy was working right.
  • FXCM is a leading provider of online foreign exchange trading, CFD trading and related services.

I opened a new account but could not set stop loss and the quotation closed. We have not received any reports of fraudulent activity at this time. However, this does not necessarily mean that this broker is safe and you should remain vigilant to prevent being scammed.

Check out the current account balance requirements at FXCM in our What is the minimum account balance at FXCM article. Is FXCM legit features all the key aspects you need to look at to see if a broker is safe and legit. The company’s more than 20-year history signals that FXCM can sustain operations despite periods of economic distress. The company had been fined multiple times from 2005 to 2017 and there were name changes also. The stock exchange listing increases transparency, as the company publishes annual reports.

How do you withdraw money from FXCM?

When in doubt, you should consult a qualified financial advisor before making any investment decisions. You must understand that Forex trading, while potentially profitable, can make you lose your money. CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors. Yet, there is another attractive opportunity through FXCM’s Active Trader account that is designed for high-volume investors. As an Active Trader, you can benefit from premium services and custom solutions, as well as discounted pricing on your spread costs based on the volume you trade.

Nevertheless, FXCM has two main types of accounts; demo account and real account. The demo accounts help users to strategize and test them for better gains. FXCM has a plethora of trading tools, research materials, and education tutorials to make trading hassle-free for both beginners and professional traders. FXCM is also good for beginners because you can open a demo account and access educational materials to boost your knowledge. Retail clients also have negative balance protection and cannot lose more than the money in their accounts.

However, users can only trade a limited selection of forex and CFDs, and the mobile and desktop platforms are lacking in usability when compared to the competition. All in all, FXCM doesn’t get a good rating when it comes to the range of investment types. The list of investment products isn’t impressive compared to the other big names in the forex world. FXCM offers users five cryptocurrencies that are provided through CFDs.

fxcm review

FXCM baskets are like indices — a basket indicates the performance of a group of products on the market on which traders can bet on. There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk. Forex — the foreign exchange market is the biggest and the most liquid financial market in the world.

If there is anything more for which you may require our assistance, don’t hesitate to contact us. After a mail requesting information about a problem on my account, I’ve been called in short time by one employees of the company that found satisfactory solution. Our team is always happy to help, and we always appreciate when our clients make the interaction mutually pleasant. We recommend that you read up more on the FXCM website and probably chat with the customer to ask any questions you may have to help you decide if they are right for you.

FXCM Ratings at a Glance

Users interested keen on algorithmic trading can use Trading Station, MetaTrader4, NinjaTrader 8, and TradingView, while copy or social trading users can use ZuluTrader and Trader Workstation. However, as per our findings for this review, the Active Trader account can access all the platforms, https://forex-reviews.org/ while the standard accounts are limited to using only specific platforms. The fees on FXCM are moderate because you do not pay commission for trades, inactive account fees start after 1 year, and you can have lower spreads if you trade large volumes and become an active trader.

They provide you with “fake” virtual money so you can test their platforms, perform real-time trades, and test out their services. Over the course of providing retail traders access to the markets, FXCM has received numerous awards to highlight its services. Traders can find a blend of third-party research materials and FXCM exclusive content. The education material and research toolsare ideal for a broad spectrum of skill levels ranging from beginners to professional traders. Some of the research materials are derived from Trading Central, Invetsing.com, FXStreet, and eFXData. On the web version of FXCM, traders can also access the market screener research tool.

Moreover, users can create trading indicators and strategies from scratch or choose from over 1000 NinjaScripts. FXCM offers an economic calendar, and using the demo feature; one can test the difference in the expected value and the actual value to develop strategies for real trades. Experienced traders and professionals can also use this demo feature to try different trading strategies.

It provides a good trading experience for all kinds of investors, be it beginners or advanced traders. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com.

Ultimate Fintech Awards 2022 Broker of the Year

DEMO accounts are also available and are very useful for beginning traders, in addition they offer a large number of educational materials and resources as well as research. Among them you can find market analysis, news, seminars, guides, among others. In short, it is a very competitive offer for traders who want to invest with currencies and CFDs whether they are beginners or professionals. The FXCM group has companies registered and regulated by many of the most respected regulatory organizations in the world. FXCM together with Flextrade announced a technology partnership for FXCM’s institutional business and Flextrade’s “MaxxTrader” solution. Overall, due to the strong background of the broker, years of successful operation, and reputation in the financial world our financial experts find FXCM broker a reliable and safe trading environment.


Additionally, FXCM never offered any proof to support their actions. FXCM is regulated in the UK by the Financial Conduct Authority as ‘Forex Capital Markets Limited’ and authorised to offer financial services, with reference number , issued in 2003. Though more percentage of traders lose their money, there are a few traders who are successful in the industry.

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