During this FXCM review, our team of experts will analyze every important feature of the broker, to help you to decide whether it’s right for you.
FXCM is a well-respected and popular broker, that has been offering its services to global clients over 20 years. With licenses from four top-tier authorities, you can also rest assured that it is trustworthy and responsible.
The broker offers you 70 trading instruments in an array of asset classes. You’ll also enjoy fair trading fees, as well as research and educational tools to help you to advance.
Should you decide to register with FXCM after reading our review, you’ll benefit from a speedy sign-up process, multiple trading platforms to choose from, and convenient depositing methods.
- Max Leverage:1:400 (1:30 for EU clients)
- Spread:0 pips
- Forex Licence:FCA, ASIC, FSCA
Register with a regulated broker
As noted in the introduction, FXCM is a trusted forex broker that has been operating for 20+ years. It was established back in 1999 in London and now caters to clients across the world.
When it comes to credibility, FXCM has a lot up its sleeve to prove its one of the best forex brokers in the industry. This starts with the fact it boasts licenses from five different top-tier authorities, in four different countries:
- Financial Conduct Authority UK (FCA)
- Australian Securities and Investments Commission (ASIC)
- The Autorité de Contrôle Prudentiel et de Résolution (ACPR)
- The Autorité des Marchés Financiers (AMF)
- Financial Sector Conduct Authority South Africa (FSCA)
Being the highly regulated broker that FXCM is, it complies with the guidelines put forward by these institutions. This includes storing your funds in segregated accounts and offering client investor insurance schemes in certain jurisdictions (the UK and France).
Benefit from a retail account with great conditions and fees
When it comes to the FXCM’s account types, there’s only one main one to discuss. Don’t let this put you off, however, as it boasts fair fees, and offers you a wide range of instruments, platforms, indicators, signals, and other features. Here are some more specific details about this account:
- Minimum deposit: 0 USD
- Minimum spread USDEUR: 0.1 pip
- Number of trading instruments: 70+
- Minimum order size: 0.01 lot
- No Commission
- Hedging allowed
- Can be converted into an Islamic account in some jurisdictions
Besides this live account, there’s also an Active Trader account that is designed to provide tighter spreads and more elite features to high-volume traders. On top of that, there’s also a free demo account that provides you with 20,000 USD worth of virtual funds (50,000 EUR in Europe).
Funding your account at FXCM
When it comes to depositing and withdrawing, our FXCM review team was pleased to find that the broker accepts convenient methods. No matter your budget or your location, you can always fund your account with ease.
At FXCM you can deposit via:
- Credit cards (Visa, MasterCard, Discover)
- Bank wire transfers
- E-wallets (Neteller, Skrill, Union Pay)
What’s particularly advantageous of these deposit methods is that FXCM doesn’t charge you any transaction fees. Plus, credit card and e-wallet deposits are usually completed instantly. When it comes to withdrawals, these take around three days and are limited to credit/debit cards or bank transfers only.
What products and platforms can you trade with?
As noted earlier, our review team counted 70+ tradable assets at FXCM, including currency pairs, forex indices, stock indices, commodities, and cryptocurrencies*. There are three different trading platforms available to use too:
- Trading Station – FXCM’s proprietary trading software, that is based on the HTML5 language and offers technical/fundamental analysis tools, ultra-fast execution speeds, and support for all platforms, be it mobile or web.
- MetaTrader 4 – A critically acclaimed trading platform that offers customizable charts, multiple order types, and a wide range of indicators. MT 4 also supports expert advisors and VPS hosting
- ZuluTrade – This is a social trading platform that allows you to copy other traders’ moves and learn along the way.
*Availability is subject to regulations
Are there bonuses at FXCM?
During our FXCM review, we also explored what bonuses and promotions the broker had to offer. Unfortunately, FXCM does not offer deposit bonuses to standard clients, although you can benefit from rebates with the Active Trader program.
Competent and friendly help and support
Customer support is yet another department where FXCM shines. The FXCM’s support agents are available 24/5 and can be contacted via a number of ways:
- Phone number
- Online chat
Having contacted the broker several times, our reviewers were convinced that FXCM offers one of the most streamlined customer support services on the market. Responses were timely, helpful, super-friendly, and professional. What’s more, you can interact with customer support via your desktop or mobile device.
Our final rating
If you’re looking for a comprehensive trading experience, that comes with excellent support, features, and tools, look no further than FXCM. Bolstered by a great and long history, FXCM offers valuable trading conditions, excellent client safety, and a wide range of trading instruments. As you can also take advantage of educational materials and advanced platforms, we’re sure it’ll suit you no matter your level of skill or budget.
Sign up with FXCM in just a few easy steps to see what the fuss is all about.
|Headquarters||20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom|
|Deposit Methods||Credit cards, bank wire, e-wallets|
Can I trust FXCM?
Yes, indeed. Our review of FXCM found that the broker is regulated and licensed from the following institutions; the FCA, ASIC, ACPR, AMF, and FSCA. As these are all top-tier authorities, and FXCM has a long history, the broker’s trustworthiness is guaranteed.
How do I open an FXCM account?
Opening a live forex broker account at FXCM is very quick and easy. Depending on where your trading from, you’ll simply need to decide what account you want to open, supply some personal details, and submit a copy of your proof of ID and proof of address.
How do I get a premium account at FXCM?
To join the Active Trader program at FXCM, you need to have an existing FXCM account and a notional trading volume of $10 million per month. If you meet these requirements, simply contact the broker to start benefiting from advanced features and rebate bonuses.
Is FXCM a scam?
No, FXCM is not a scam. Besides having five licenses from four individual jurisdictions, it also has fund security mechanisms like account segregation and negative balance protection. FXCM is also a Fortune 500 company and is listed on the NYSE. This means it must submit regular company reports.
Can I trade crypto at FXCM?
Yes, you absolutely can. FXCM offers 7 cryptocurrency CFDs, including Bitcoin, Ethereum, and Ripple. To diversify your portfolio further, you can also trade the CryptoMajor basket. This is a unique product that combines five of the most popular cryptocurrencies into one instrument. Please note, the availability of cryptocurrencies is subject to regulations.