FXCM Review


70+ trading instruments5 top-tier licensesExtensive research toolsTrade Now!

In our review of FXCM, we explore a forex broker that has been operating for more than 20 years. In its lifespan, the broker has managed to acquire quite a substantial fame and prestige, having won several awards and titles, and thousands of loyal traders.

As our review of FXCM forex broker shows, there are over 70 different assets that you can trade with this broker. There’s also a huge selection of trading tools, advanced charting platforms, and educational materials at your disposal. And on top of everything, you’re getting competitive spread quotes and lucrative leverage ratios.

When it comes to safety, FXCM features five licenses which instill stability and security. These, coupled with top-tier fund security measures, make sure that you have the best trading experience at FXCM. FXCM is the best broker for those people that value financial security and stability, so read on to learn more.

Discover FXCM’s Background and Regulation

One of the main aspects, and even shining points, of FXCM is its background. The company was founded in 1999 in London, UK, and was quickly acknowledged as one of the most trustworthy brokerages thanks to its impressive trading platforms and beneficial offerings.

Currently, the following FXCM review shows that the company operates as an international forex broker that is a member of Jefferies Financial Group (prev. Leucadia) – an American company that is listed on the NYSE.

As for regulation, FXCM’s financial activities are monitored by five different institutions in four jurisdictions:

  • The UK – Financial Conduct Authority (FCA);
  • Australia – Australian Securities and Investments Commission (ASIC)
  • South Africa – Financial Sector Conduct Authority (FSCA)
  • France – The Autorité de Contrôle Prudentiel et de Résolution (ACPR)/The Autorité des Marchés Financiers (AMF)

With these licenses in place, the funds that you deposit to your FXCM account are heavily protected. Plus, the broker also features some heavy-duty security measures like the segregation of funds and account insurance.

Customer Support at FXCM

Another great advantage of FXCM is that it doesn’t shy away from answering the questions clients have. During our FXCM review, we found you could contact the broker’s customer support team via:

  • Live chat
  • Email support
  • Phone number

The single biggest benefit of each of these methods is that all of them provide in-depth and friendly answers to your questions. What’s more, the customer support team works 24/5 and is even available on mobile platforms as well.

What’s also important to note is that you’re not required to call the one international number if you have any questions to the broker. There are over 40 different numbers based on your area of residence and in different languages.

Are There Any Bonuses at FXCM?

When it comes to bonuses, FXCM doesn’t currently have any promotions or contests that would bring short-term financial profits to your account. This isn’t something you should worry about, however, as it shows that FXCM is more focused on more long-term benefits, like ensuring that its spread quotes are very competitive, that regulation is considered, and that the execution speed is as quick as it can get.

Broker Min Deposit Bonus Rating More
*Trading bonus are not eligible for clients registered under Trading Point of Financial Instruments Ltd and Trading Point of Financial Instruments UK Ltd

Choose from 3 Different Platforms

As we have already mentioned in this review, there are more than 70 trading instruments available at FXCM. These instruments include:

  • 39 forex pairs
  • 3 forex baskets (indices)
  • 13 indices
  • 9 commodities
  • 8+ cryptocurrencies

For these instruments, you can choose some of the best trading conditions like 400:1 leverage (30:1 for EU clients) and spreads from as low as 0 pips.

To maintain a high-quality trading experience, FXCM offers its own Trading Station platform, as well as more well-known MetaTrader 4 and ZuluTrade. During our review of FXCM forex broker, our team thoroughly examined these platforms and found out that all of them support trading robots scalping, and many indicators for technical analysis.

When it comes to research tools, there’s a huge database of trading signals, trade ideas (free for 14 days), and tools (momentum indicators, Bollinger Bands, etc.) that are designed to help you make accurate predictions.

Account Types at FXCM

There is only one live retail account at FXCM, but the good news is that it’s accessible and suitable for all types of traders. The account comes with competitive spreads, such as an average of 1.3 pips on the EURUSD currency pair. This account also has no minimum deposit limits and can be opened in a matter of minutes.

If you’re more passionate about trading, and you have a large amount of capital to trade with, then the FXCM Active Trader program may be for you. As one of the best forex brokers for high volume trading, the Active Trader scheme lets you benefit from rebates, API trading, market depth, and VPS hosting. To qualify for this account type, you’ll need to meet a minimum notional volume requirement of $10 million per month.

FXCM also provides all clients with a free demo account. Unlike other brokers, FXCM allows you to use this account indefinitely, and it comes with a balance of $20,000 USD. With the demo account, you can practice trading forex, commodities, and other instruments.

How can you make deposits and withdrawals?

When it comes to funding your FXCM account and withdrawing funds from it, the broker features five different methods which are all free of charge:

  • Credit/Debit Cards – Visa, MasterCard, Discover
  • Bank wire
  • E-wallets – Neteller, Skrill, Union Pay

You can use all of these methods for instant deposits, apart from the bank transfer that can take anywhere from one to five working days. As for withdrawals, our FXCM broker review shows that you can use the same methods, apart from e-wallets.

Our final verdict

During this review, we examined all of the important features of FXCM and found that it excels in every department. Naturally, this should be expected of a top-tier brokerage that has been operating successfully for over 20 years.

Our experts appreciated that FXCM boasts licenses from four separate countries, as this reassures you that the broker is reputable and that your funds are safe. We were also pleased to see transparent and valuable trading conditions, such as spreads, leverage, and execution.

If that wasn’t enough, FXCM also offers a decent range of trading instruments across all three of its highly respected trading platforms. You can also benefit from indicators, trading signals, and educational materials.

Whether you’re a beginner trader who wants to hone their forex skills or an experienced trader who wants lower spreads and lightning-fast executions, FXCM definitely offers something for you.

FAQs

Who can trade with FXCM?

Our FXCM review found that this is a broker that’s suitable for all budgets and skill levels. This thanks to the fact that the broker doesn’t impose minimum deposit requirements. The educational tools are also excellent for new traders, whilst the Active Trader account permits competitive conditions for veterans.

Is FXCM trustworthy?

Yes, it absolutely is. FXCM features the licenses from four top-tier authorities; the FCA UK, ASIC, FSCA, and AMF. Under these licenses, the broker manages its customers’ funds with the utmost care and offers transparency for fees at all times. This considered it’s clear that FXCM is a high-quality forex broker.

Does FXCM offer a bonus?

Unfortunately, FXCM does not currently offer a deposit bonus, but this shouldn’t be considered to be a huge disadvantage. Thanks to low spreads and zero commissions, as an FXCM client you’ll always get value for money. Moreover, if you do decide to trade large amounts, the Active Trader program does offer rebate bonuses.

What fees does FXCM charge?

Trading fees at FXCM are largely charged through spreads and swaps. Spreads start from 0 pips but usually revolve around 1-2 pips. There are also no commissions when trading nor when depositing or withdrawing, however, there is an inactivity fee of $50 per year. Luckily, this is only charged once you haven’t traded for over 12 months.

What account types does FXCM have?

There is one main retail account at FXCM which is suitable for all types of clients and that comes with competitive trading conditions. There’s also an Active Trader account for high-volume clients and a demo account which is free of charge.