FXCM Forex Broker

Overview

FXCM is a forex trading and CFDs broker, offering brokerage services to more than 220,000 active clients. Founded in 1999, FXCM is regulated by multiple industry bodies, including ASIC, FSCA, and the FCA. On the business side, FXCM has offices in London, Berlin, Paris, Sydney, and Hong Kong, among other cities.

FXCM has been the recipient of numerous international industry awards in recognition for its trade-related services over the course of its two decades of operation. The company has found success at the UK Forex Awards, Shares Awards, and Online Personal Wealth Awards, among others.

Overview

FXCM is a forex trading and CFDs broker, offering brokerage services to more than 220,000 active clients. Founded in 1999, FXCM is regulated by multiple industry bodies, including ASIC, FSCA, and the FCA. On the business side, FXCM has offices in London, Berlin, Paris, Sydney, and Hong Kong, among other cities.

FXCM has been the recipient of numerous international industry awards in recognition for its trade-related services over the course of its two decades of operation. The company has found success at the UK Forex Awards, Shares Awards, and Online Personal Wealth Awards, among others.

Commissions and Fees

FXCM offers below average trading fees in terms of forex and CFD trading, compared to its nearest competitors.
Indeed, the pricing structure differs depending on the specific account type that traders select. There is a good level of transparency, as the fees are easily available, with a dedicated table being published on the company’s website.

Also, the exact commissions and fees involved relate to the account type chosen, which is fairly common across the industry. Traders who choose to open the Spread Betting account will incur fewer charges compared to the Active Trader account.

Commissions and Fees

FXCM offers below average trading fees in terms of forex and CFD trading, compared to its nearest competitors.
Indeed, the pricing structure differs depending on the specific account type that traders select. There is a good level of transparency, as the fees are easily available, with a dedicated table being published on the company’s website.

Also, the exact commissions and fees involved relate to the account type chosen, which is fairly common across the industry. Traders who choose to open the Spread Betting account will incur fewer charges compared to the Active Trader account.

Trading Accounts

Traders can choose from three types of trading accounts. These comprise of the mini, standard, and Active Trader accounts, each featuring different minimum deposits, spreads and access to currency pairs. The minimum deposit is $50, while the maximum leverage is 1:50. The typical average spread for the EUR/USD currency pair ranges from 0.7 pips to 1.3 pips. A demo account is also available for traders who wish to try out their trading strategies and test out the trading accounts and platforms on offer.

Trading Accounts

Traders can choose from three types of trading accounts. These comprise of the mini, standard, and Active Trader accounts, each featuring different minimum deposits, spreads and access to currency pairs. The minimum deposit is $50, while the maximum leverage is 1:50. The typical average spread for the EUR/USD currency pair ranges from 0.7 pips to 1.3 pips. A demo account is also available for traders who wish to try out their trading strategies and test out the trading accounts and platforms on offer.

Trading Platforms

The trading platforms with FXCM include MetaTrader 4, NinjaTrader, ZuluTrade, and Trading Station, the company’s in-house proprietary platform.

The trading platforms with FXCM include MetaTrader 4, NinjaTrader, ZuluTrade, and Trading Station, the company’s in-house proprietary platform.

FXCM apps can be downloaded by traders through the App Store and Google Play Store, across a range of devices, including Apple iPhone and iPad, as well as Android tablets and phones.

FXCM apps can be downloaded by traders through the App Store and Google Play Store, across a range of devices, including Apple iPhone and iPad, as well as Android tablets and phones.

Education and Research

This broker offers ample educational and research material, which includes trading guides, live webinars, and SMS trade alerts. Traders can also access a useful video library, that is suitable to both beginners and professional traders.

Education and Research

This broker offers ample educational and research material, which includes trading guides, live webinars, and SMS trade alerts. Traders can also access a useful video library, that is suitable to both beginners and professional traders.

Pros

FXCM excels in terms of forex education, especially with regards to the free trading tools and educational videos on offer. The opportunity for beginner traders to practice trading on demo accounts without using real money is a positive feature. Meanwhile, the Trading Station trading account is suitable to traders of all levels of experience as it is equipped with all the necessary essential tools.

Cons

Conversely, promotions or trading competitions are infrequent, meaning that traders who wish to take advantage of broker incentives would find better options elsewhere on the market. Moreover, there is a limited number of tradeable assets available, when compared to other brokers. The above factors are important to consider when deciding on a broker to open an account with.

Pros

FXCM excels in terms of forex education, especially with regards to the free trading tools and educational videos on offer. The opportunity for beginner traders to practice trading on demo accounts without using real money is a positive feature. Meanwhile, the Trading Station trading account is suitable to traders of all levels of experience as it is equipped with all the necessary essential tools.

Cons

Conversely, promotions or trading competitions are infrequent, meaning that traders who wish to take advantage of broker incentives would find better options elsewhere on the market. Moreover, there is a limited number of tradeable assets available, when compared to other brokers. The above factors are important to consider when deciding on a broker to open an account with.

About the FXCM Group

FXCM, also known as Forex Capital Markets, was founded back in 1999 in New York and expanded into Europe in 2003, with the opening of a London office. In 2015, Leucadia Investments became the majority economic owner of FXCM. The company formed part of the merchant banking arm of Jefferies Financial Group and was rebranded in 2018.

Forex Capital Markets Limited is authorised and regulated in the UK by the FCA (license number 217689)

Forex Capital Markets Limited is authorised and regulated in the UK by the FCA (license number 217689)

and in South Africa by the FSCA (license number 46534)

FXCM Markets Limited is an operating subsidiary within the FXCM Group. FXCM was the second largest retail forex broker outside of Japan, as of March 2018.

Forex Capital Markets Limited is authorised and regulated in the UK by the FCA (license number 217689)

Forex Capital Markets Limited is authorised and regulated in the UK by the FCA (license number 217689)

and in South Africa by the FSCA (license number 46534)

FXCM Markets Limited is an operating subsidiary within the FXCM Group. FXCM was the second largest retail forex broker outside of Japan, as of March 2018.