Foreign exchange trading is a fun, exciting field to immerse yourself in. It’s even made more fun because traders can easily do it in the comfort of their own homes just by using their laptops or mobile phones.
Working with the top forex brokers is important to fulfill all your goals as an investor. With plenty of choices, it’s understandable for you to get confused and indecisive.
FXCM is part of the Leucadia family of companies under Jeffries Financial Group. They have been serving clients for over 20 years. Customer-first, integrity, and agility are the three core values FXCM upholds in running their business.
These values are what built the company and what has gained them recognition and success over the years.
Over the years, FXCM has received numerous awards including UK Forex Awards, Forex Magnates London Summit Award, BrokerChooser, FX Street, and many more. They also have international offices located in Germany, Australia, France, Italy, Greece, Hong Kong, and South Africa.
FXCM’s place in the brokerage industry is quite incontestable. They give clients instant access to exclusive powerful investment tools, as well as other important educational materials that will be beneficial.
Regulated BrokerVariety of CoinsAvailable via App
when trading CFDs with this provider
Safety is one of the topmost concerns of investors when it comes to online brokers. FXCM is regulated by the Financial Conduct Authority or FCA in the United Kingdom. For this reason, FXCM abides by strict regulations set upon by the FCA.
This includes the submission of regular financial reports to the FCA. Furthermore, FCA has the power to terminate their license, impose any fines, as well as implement other financial laws as they deem appropriate.
Client fund segregation is strictly followed by the FXCM, per FCA guidelines. To secure their clients’ funds, retail client money is separate from the firm’s. As per FCA guidelines, clients are entitled to a refund of their money in an event of bankruptcy or insolvency.
The website also employs a Secured Socket Layer or SSL throughout its many platforms. This encryption ensures that transmitted data between clients and the platform are protected. If you’re worried about hackers and stolen data, the SSL encryption will ensure your safety.
Among FXCM’s products are Forex, Forex Baskets, Indices, Commodities, Crypto, and CryptoMajor. These are among the world’s largest markets currently.
FXCM offers competitive spreads on their currency pairs. At present, they offer less than 40 currency pairs and 5 cryptocurrency pairs.
These are sufficient for most typical traders. However, advanced traders may find this to be limiting.
FXCM doesn’t charge any fee for deposits and withdrawals made in any account. Costs are automatically calculated for every trade executed.
Broker fees vary depending on account types and other factors. Some accounts such as the Active Trader account charge lower fees. Some fees may be charged depending on the base currency.
Furthermore, FXCM may also charge additional fees. Thus, it’s important to check out their website to find out any latest information regarding charges.
FXCM wants to be flexible when it comes to their account types. Thus, they currently offer four account types depending on their client’s needs:
You may also inquire for an Active Trader Account. This account is specially made for those who live with day-to-day trading.
They also offer a Demo Account for those who just want to try out their platform.
Deposits and withdrawals in FXCM may be made through their online website, as well as other platforms.
Simply log in to your account and click on Deposit. Select Credit & Debit then follow the prompted instructions.
You can also do this via your Mobile App. Just download FXCM Trading Station via the App Store or Google Play. Just follow the same instructions.
Depositing via Credit Card or Debit Card is the easiest and most accessible way to fund your account. However, other modes are still available such as bank wire transfers, Skrill, or Neteller.
If you want to make a bank transfer, review the FXCM Bank Account details. Then you can transfer funds online or in-person through one of your bank’s branches.
Opening an account with FXCM is very smooth and easy. Simply log on to their website, and then click on the “Open Account” button located at the upper right corner of the webpage.
FXCM currently offers four trading platforms for clients to choose from. These are Trading Station, MetaTrader 4, Ninjatrader, and ZuluTrade.
Trading Station is their most recommended platform. It includes all of the features such as 1K Micro Lots, Automated Trading, Pre-loaded Strategies, Chart Trading.
It also has One-click Trading, constant Email/SMS alerts, Custom Indicators, Advanced Backtesting. Furthermore, you can also access this through Desktop, Web, and Mobile.
MetaTrader 4 is another platform they offer. This also includes all of the features of Trading Station. Meanwhile, Ninjatrader lacks the Desktop, Web, and Mobile features. Furthermore, ZuluTrade only includes 1K Micro Lots, Automated Trading, and Pre-loaded Strategies.
In this account, you have 50,000GBP to spend on trading.
Global market news is quite beneficial for any type of trader. FXCM ensures the news is refreshed and updated multiple times a day.
Virtual Private Server (VPS)
Those who use MetaTrader 4 or MT4 have access to a Virtual Private Server or VPS. These are valuable for clients who require uninterrupted trading. The subscription fee of $30 is waived if a client has traded over 500,000 within the last 3 months.
Beeksfx.com and Fxcolo.com are some of the VPS providers for FXCM MT4.
The calendar features economic events that affect daily trading prices. Furthermore, the calendar also often gives trading guides.
This tool allows clients to scan for signals depending on the chosen timeframe and other indicators.
FXCM makes it a point to equip its clients with the right knowledge and information to improve their skills and strategy. They conduct free regular Live Market Webinars for their clients. Furthermore, you can also ask questions from their analysts during the webinars.
Moreover, if their clients choose to learn at their own pace, they also offer a wide range of videos about Foreign Exchange Trading and other areas in their video gallery. These are catered to those who are new to Forex, as well as to those who are more advanced.
They also provide clients with Trading Guides to help them out on their trading journey. It’s a perfect mixture of beginners and advanced guides. Thus, it’s helpful to all types of investors. Whether you’re just starting or you’re already creating your strategy.
One of the best features of FXCM is its reliable customer support. For over 20 years, they have provided clients with no-fail support 24/5.
Their customer support is available for access in over 20 languages, too. Most importantly, they are active on various social media platforms like Facebook, Twitter, and YouTube.
The best thing about FXCM is its reputation and reliability. The first thing one has to look for in online brokers is whether or not they have been performing well for a long time.
This is something FXCM has proven over the years. In addition to that, they offer the most updated, advanced, and powerful tools for Foreign Exchange Trading.
They are also customer-centered as evidenced by their dedication to educating clients more about trading through their educational tools and videos. Furthermore, their customer service and support have been widely recognized by many institutions.
FXCM also provides extremely safe and secure platforms both Web and Mobile. This lifts a lot of burden from the clients in their trading journey.
Online brokers may all look highly similar when you first find out about them. However, it is in the minute details that make particular brokers, such as FXCM, stand out among others.
Compared to other brokers, FXCM has managed to partner with experts to deliver superior services to its clients. These include Virtual Private Servers or VPS, as well as other services.
Their educational materials are also impressive. Considering these are free of use for any clients, you’re only seeing their dedication to educating their clients to become more informed traders.
FXCM is an overall reliable, experienced online broker. With over 20 years of experience, they have managed to gain the trust and recognition of many clients and institutions.
They provide clients with advanced and powerful trading tools that are up-to-date and easy-to-use. Tradable assets are quite limited though, compared to other online brokers.
Furthermore, other countries may not be able to avail of their service. However, overall, they are quite an impressive online broker if you’re thinking about Foreign Exchange Trading online.
For more information about FXCM, visit their website to find out more about their services. They also offer other investment services outside foreign exchange trading.
Always make yourself aware of the risks when it comes to any investment products. It’s imperative that you understand these first before making any transactions.
Regulated BrokerVariety of CoinsAvailable via App
when trading CFDs with this provider
Disclaimer: Please note that the articles, news, reviews and all the content of this website should not be considered as a trading advice. The nature of investing is speculative and there is a risk to lose the invested capital completely. When investing seek a professional advice and make your own due dilligence. This site is not intended for use in countries where trading and investing is prohibited. This website is free for you to use but we may receive remuneration from the companies we feature on this site.