FXCM is a low-risk Forex Broker and can be summarised as trustworthy and reliable. Regarding trading conditions, FXCM offers a user-friendly trading environment with low spreads and high leverage. The company has an overall trust score of 92 out of 99.
🔎 Broker | 🥇 FXCM |
📌 Year Founded | 1999 |
👤 Amount of Staff | Approximately 300 |
👥 Amount of Active Traders | Over 50,000 |
📍 Publicly Traded | ✅Yes |
🛡️ Regulation and Security | High |
⭐ Regulation | Multiple Jurisdictions |
1️⃣ Suits Professionals | ✅Yes |
2️⃣ Suits Active Traders | ✅Yes |
3️⃣ Suits Beginners | ✅Yes |
🥰 Most Notable Benefit | Wide range of trading instruments |
🥺 Most Notable Disadvantage | Higher spreads in some markets |
↪️ Account Segregation | ✅Yes |
💡 Negative Balance Protection | ✅Yes |
➡️ Investor Protection Schemes | ✅Yes |
🅰️ Institutional Accounts | ✅Yes |
🅱️ Managed Accounts | ✅Yes |
⏱️ Minor Account Currencies | ✅Yes |
💴 Minimum Deposit | 50 USD |
⏲️ Average Deposit Processing Time | 1-2 business days |
⏱️ Average Withdrawal Processing Time | 1-5 business days |
💶 Fund Withdrawal Fee | Varies by method |
💵 Spreads From | 0.2 pips (depending on account type) |
💷 Commissions | Varies based on account type |
💳 Number of Base Currencies | 7 |
💸 Swap Fees | ✅Yes |
🏧 Leverage | Up to 1:400 |
↘️ Margin Requirements | Varies by instrument |
☪️ Islamic Account | ✅Yes |
🆓 Demo Account | ✅Yes |
⏸️ Order Execution Time | 0.2 seconds (average) |
⏹️ VPS Hosting | ✅Yes |
📈 Total CFDs Offered | Over 1,000 |
📉 CFD Stock Indices | ✅Yes |
🌽 CFD Commodities | ✅Yes |
📊 CFD Shares | ✅Yes |
💹 Deposit Options | Credit/Debit Cards, Bank Transfer, PayPal |
💱 Withdrawal Options | Bank Transfer, Credit/Debit Cards |
🖥️ Trading Platforms | Trading Station, MetaTrader 4 |
💻 OS Compatibility | Windows, Mac, iOS, Android |
🖱️ Forex Trading Tools | Trading calculators, economic calendar |
🗯️ Live Chat | ✅Yes |
💌 Support Email | info@fxcmmarkets.com |
☎️ Contact Number | Call Back Request |
🐦 Social Media | Twitter, Facebook, |
✏️ Languages Supported | English, Spanish, Portuguese |
📔 Forex Course | ✅Yes |
📚 Webinars | ✅Yes |
📒 Educational Resources | Articles, videos, tutorials |
📑 Affiliate Program | ✅Yes |
🗃️ Amount of Partners | Varies |
🗄️ IB Program | ✅Yes |
📇 Rebate Program | ✅Yes |
🚀Open an Account | 👉 Open Account |
Min Deposit USD 50 Regulators FCA, ASIC, FSCA, CySEC Trading Platform MT4 Crypto Yes Total Pairs 42 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
FXCM Review – Key Point Quick Overview
- ☑️ Overview
- ☑️ Detailed Summary
- ☑️ Advantages over Competitors
- ☑️ Safety and Security
- ☑️ Minimum Deposit
- ☑️ Account Types
- ☑️ How to Open an FXCM Account
- ☑️ Trading Platforms
- ☑️ Fees, Spreads, and Commission
- ☑️ Deposit and Withdrawal
- ☑️ Affiliate Program
- ☑️ Customer Reviews
- ☑️ Pros and Cons
- ☑️ Conclusion
- ☑️ Frequently Asked Questions
Overview
FXCM is a well-established broker that offers trading facilities on shares, stock indices, forex, commodities, and cryptos to a global market. FXCM has offices in multiple international locations, including Berlin and Sydney. More than 130’000 customer accounts are registered worldwide.
Frequently Asked Questions
Are there any fund withdrawal fees?
Withdrawal fees vary by method.
What account types are available at FXCM?
FXCM offers various account types, including managed and institutional accounts.
Does FXCM support VPS hosting?
Yes, FXCM provides VPS hosting.
What trading tools does FXCM offer?
FXCM offers trading calculators and an economic calendar.
Our Verdict
With high regulatory standards and investor protection schemes, FXCM ensures a secure trading environment. Furthermore, The broker’s offering of over 1,000 CFDs is unmatched, catering to diverse trading strategies.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Detailed Summary
🔎 Broker | 🥇 FXCM |
📌 Year Founded | 1999 |
👤 Amount of Staff | Approximately 300 |
👥 Amount of Active Traders | Over 50,000 |
📍 Publicly Traded | ✅Yes |
🛡️ Regulation and Security | High |
⭐ Regulation | Multiple Jurisdictions |
1️⃣ Suits Professionals | ✅Yes |
2️⃣ Suits Active Traders | ✅Yes |
3️⃣ Suits Beginners | ✅Yes |
🥰 Most Notable Benefit | Wide range of trading instruments |
🥺 Most Notable Disadvantage | Higher spreads in some markets |
↪️ Account Segregation | ✅Yes |
💡 Negative Balance Protection | ✅Yes |
➡️ Investor Protection Schemes | ✅Yes |
🅰️ Institutional Accounts | ✅Yes |
🅱️ Managed Accounts | ✅Yes |
⏱️ Minor Account Currencies | ✅Yes |
💴 Minimum Deposit | 50 USD |
⏲️ Average Deposit Processing Time | 1-2 business days |
⏱️ Average Withdrawal Processing Time | 1-5 business days |
💶 Fund Withdrawal Fee | Varies by method |
💵 Spreads From | 0.2 pips (depending on account type) |
💷 Commissions | Varies based on account type |
💳 Number of Base Currencies | 7 |
💸 Swap Fees | ✅Yes |
🏧 Leverage | Up to 1:400 |
↘️ Margin Requirements | Varies by instrument |
☪️ Islamic Account | ✅Yes |
🆓 Demo Account | ✅Yes |
⏸️ Order Execution Time | 0.2 seconds (average) |
⏹️ VPS Hosting | ✅Yes |
📈 Total CFDs Offered | Over 1,000 |
📉 CFD Stock Indices | ✅Yes |
🌽 CFD Commodities | ✅Yes |
📊 CFD Shares | ✅Yes |
💹 Deposit Options | Credit/Debit Cards, Bank Transfer, PayPal |
💱 Withdrawal Options | Bank Transfer, Credit/Debit Cards |
🖥️ Trading Platforms | Trading Station, MetaTrader 4 |
💻 OS Compatibility | Windows, Mac, iOS, Android |
🖱️ Forex Trading Tools | Trading calculators, economic calendar |
🗯️ Live Chat | ✅Yes |
💌 Support Email | info@fxcmmarkets.com |
☎️ Contact Number | Call Back Request |
🐦 Social Media | Twitter, Facebook, |
✏️ Languages Supported | English, Spanish, Portuguese |
📔 Forex Course | ✅Yes |
📚 Webinars | ✅Yes |
📒 Educational Resources | Articles, videos, tutorials |
📑 Affiliate Program | ✅Yes |
🗃️ Amount of Partners | Varies |
🗄️ IB Program | ✅Yes |
📇 Rebate Program | ✅Yes |
🚀Open an Account | 👉 Open Account |
Frequently Asked Questions
Are there any commissions on trades?
Commissions vary based on account type.
What base currencies does FXCM support?
FXCM supports 7 base currencies.
What are the average deposit processing times?
Average deposit processing times are 1-2 business days.
Does FXCM have a rebate program?
Yes, FXCM offers a rebate program.
Our Verdict
FXCM’s customer support is easily accessible and responsive, enhancing the user experience. Moreover, With leverage of up to 1:400 and various account types, FXCM accommodates aggressive and conservative trading styles.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Advantages over Competitors
FXCM offers over 1,000 CFDs, including commodities, indices, and shares. Moreover, FXCM offers:
- With multiple regulations and investor protection schemes, traders can feel secure.
- The availability of both Trading Station and MetaTrader 4 caters to varying trading preferences.
- FXCM provides courses, webinars, and tutorials to enhance trader knowledge.
- Up to 1:400 leverage allows for greater trading potential.
and much, MUCH more!
Frequently Asked Questions
Is FXCM suitable for beginners?
Yes, FXCM is suitable for traders of all experience levels.
What social media platforms is FXCM on?
FXCM is on Twitter, Facebook, and LinkedIn.
What types of CFDs can I trade with FXCM?
You can trade CFD stock indices, commodities, and shares.
Does FXCM sponsor events or teams?
Yes, FXCM sponsors various events and teams.
Our Verdict
FXCM provides extensive educational resources, making it an excellent choice for novice traders. Moreover, Despite some higher spreads, FXCM’s trading conditions and features remain competitive in the forex market.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Safety and Security
FXCM is regulated by the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority of South Africa (FSCA), and the Cyprus Securities and Exchange Commission (CySEC). FXCM also provides negative balance protection to retail clients.
Frequently Asked Questions
Which regulatory bodies oversee FXCM?
FXCM is regulated by the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority of South Africa (FSCA), and the Cyprus Securities and Exchange Commission (CySEC).
What is negative balance protection?
Negative balance protection ensures that retail clients cannot lose more money than they have deposited in their trading accounts.
How does FXCM ensure the safety of client funds?
FXCM adheres to strict regulatory standards set by various financial authorities, providing high levels of security for client funds.
Are all FXCM accounts eligible for negative balance protection?
Yes, negative balance protection is available to all retail clients using FXCM’s trading services.
Our Verdict
FXCM’s regulation by multiple reputable authorities, combined with its negative balance protection for retail clients, underscores its commitment to providing a secure and trustworthy trading environment.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Minimum Deposit
The minimum deposit amount required to register an FXCM live trading account ranges from USD 50 to USD 300. The account balance for the Active Trader account is USD 25’000.
Frequently Asked Questions
What bonuses does FXCM offer for new clients?
FXCM offers a Sign-Up/Welcome bonus of USD 25 and a Deposit Bonus of up to USD 300.
What is required to qualify for the Deposit Bonus?
To qualify for the Deposit Bonus, a trader must make a minimum deposit of USD 50.
Can I receive both bonuses at once?
Yes, new clients can receive both the Sign-Up bonus and the Deposit Bonus if they meet the respective requirements.
Are there any restrictions on how I can use the bonuses?
Bonuses may come with specific trading requirements, so it’s important to review the terms and conditions associated with each bonus.
Our Verdict
FXCM’s welcome and deposit bonuses provide an excellent incentive for new traders, making it easier to start trading with additional funds while encouraging a minimum deposit to unlock further benefits.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Account Types
FXCM provides four different account types the Standard Account, the Active Trader Account, an Islamic, Swap-Free Account plus the FXCM Risk-Free Demo Account. The minimum deposit amount required to open an FXCM live trading account is USD 50.
Frequently Asked Questions
What account types does FXCM offer?
FXCM provides four account types: Standard Account, Active Trader Account, Islamic Swap-Free Account, and FXCM Risk-Free Demo Account.
What is the minimum deposit required to open a live trading account with FXCM?
The minimum deposit required to open a live trading account is USD 50.
Is the FXCM Risk-Free Demo Account available to all traders?
Yes, the FXCM Risk-Free Demo Account is available to all traders looking to practice without financial risk.
What are the benefits of the Islamic, Swap-Free Account?
The Islamic, Swap-Free Account is designed for traders who adhere to Sharia law, allowing them to trade without incurring swap fees.
Our Verdict
FXCM’s range of account types, including options for active traders and those following Islamic finance principles, combined with a low minimum deposit, makes it accessible for a variety of trading preferences and styles.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
How to Open an FXCM Account
1. Step 1: Start Process.
Click on either blue Open Account button located on the FXCM homepage in order to start the process. Once this step has been completed, the applicant will be met with an explanation page with a larger Open Account Button. Click the button to continue.
2. Step 2: Apply Now.
The applicant must now select their country of residence plus their preferred platform for trade.
3. Step 3: General Information.
The following step is for the applicant to complete a selection of general information, including their preferred account option.
4. Step 4: Personal Information.
The applicant will be required to complete a Personal Information section, including citizenship, date of birth, and more.
5. Step 5: Contact and Employment Information.
The fifth step in the application process is to complete both contact and employment information, followed by questions regarding the applicant’s trading history.
6. Step 6: Security and Referral
The final set of questions to complete will be concerning security measures plus a referral.
7. Step 7: Terms and Conditions
The account applicant must now carefully read, consider, and ensure that they understand FXCM’s terms and conditions. Once they are secure in their choice to open an FXCM live trading account, they can now click on Finish.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trading Platforms
FXCM makes multiple trading platforms available, including its proprietary platform, Trading Station. Other available trading platforms include MetaTrader4 and NinjaTrader.
Frequently Asked Questions
What trading platforms does FXCM offer?
FXCM offers several trading platforms, including its proprietary Trading Station, as well as MetaTrader 4 and NinjaTrader.
Is Trading Station suitable for beginners?
Yes, Trading Station is user-friendly and designed to accommodate both beginners and experienced traders.
Can I use MetaTrader 4 with FXCM?
Yes, FXCM supports MetaTrader 4, which is popular among traders for its advanced features and customization options.
What advantages does NinjaTrader provide for FXCM clients?
NinjaTrader offers advanced charting tools, market analysis features, and the ability to automate trading strategies.
Our Verdict
FXCM’s availability of multiple trading platforms, including its proprietary Trading Station, MetaTrader 4, and NinjaTrader, caters to various trading styles and preferences, ensuring traders have the tools they need for success.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Fees, Spreads, and Commission
FXCM is considered a low-risk and can be summarised as trustworthy and reliable. Trading with FXCM involves fees from USD 50, spreads from 0.2 pips to 1.3 pips, and commissions depending on the account type selected. With a minimum deposit fee of USD 50.
Frequently Asked Questions
Is FXCM considered a low-risk broker?
Yes, FXCM is regarded as a low-risk broker and is considered trustworthy and reliable.
What are the fees associated with trading at FXCM?
Trading fees start from USD 50, with spreads ranging from 0.2 pips to 1.3 pips, and commissions vary based on the account type.
What is the minimum deposit required to start trading with FXCM?
The minimum deposit required to open an account with FXCM is USD 50.
How do the spreads at FXCM compare to other brokers?
FXCM offers competitive spreads starting from 0.2 pips, which can be advantageous for traders seeking low-cost trading options.
Our Verdict
With its low-risk profile, competitive spreads, and reasonable fees, FXCM provides a reliable trading environment that appeals to a wide range of traders, making it a solid choice for both new and experienced investors.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Deposit and Withdrawal
FXCM clients will have access to the client service portal through their live trading account credentials. FXCM offers a range of secure funding options including Credit/Debit Cards, Bank Wire transfers plus Skrill, and Neteller. In regards to withdrawals, withdrawal requests are submitted online. A withdrawal request can be submitted online by selecting your withdrawal method and clicking “Submit”.
Frequently Asked Questions
How can FXCM clients access customer service?
FXCM clients can access the client service portal using their live trading account credentials.
What funding options are available for FXCM clients?
FXCM offers several secure funding options, including Credit/Debit Cards, Bank Wire transfers, Skrill, and Neteller.
How do I submit a withdrawal request with FXCM?
Withdrawal requests can be submitted online by selecting your preferred withdrawal method and clicking “Submit.”
Are there any fees associated with withdrawals at FXCM?
Withdrawal fees may vary depending on the selected method; it’s advisable to check the terms for specifics.
Our Verdict
FXCM provides a user-friendly client service portal and a variety of secure funding options, ensuring a smooth and efficient process for both deposits and withdrawals, which enhances the overall trading experience.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Affiliate Program
FXCM makes two promotional offers available to their clientele. This includes a Rebate Program and a Friends + Family offer.
The requirements to become a part of the rebate program are as follows:
- Have an account with FXCM or open a new account
- Meet a minimum notional volume requirement of USD 10 Million every month
Frequently Asked Questions
What promotional offers does FXCM provide?
FXCM offers two promotional programs: a Rebate Program and a Friends + Family offer.
What are the requirements for the Rebate Program?
To participate in the Rebate Program, clients must have an account with FXCM and meet a minimum notional volume requirement of USD 10 million every month.
Can new clients join the Rebate Program?
Yes, new clients can open an account and join the Rebate Program if they meet the volume requirement.
What benefits does the Friends + Family offer provide?
Details on the Friends + Family offer may vary, so it’s best to check FXCM’s website or contact customer service for specific benefits.
Our Verdict
FXCM’s Rebate Program and Friends + Family offer present valuable opportunities for clients to enhance their trading experience, especially for those capable of meeting the volume requirements, making FXCM an appealing choice for active traders.
Min Deposit
USD 50
Regulators
FCA, ASIC, FSCA, CySEC
Trading Platform
MT4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Customer Reviews
🥇 Great Experience.
I’ve been trading with FXCM for over a year now, and I couldn’t be happier! The user-friendly platforms, especially Trading Station, make it easy to manage my trades. Plus, the range of educational resources helped me improve my skills significantly. Highly recommend! – Fred
🥈 Very Good Service.
FXCM has proven to be a reliable broker. Their low spreads and negative balance protection give me peace of mind when trading. I appreciate the prompt customer support and secure funding options. A trustworthy choice for forex trading! – Rafael
🥉 Highly Recommended!
I love the bonuses offered by FXCM! The welcome bonus helped me kickstart my trading journey, and the Rebate Program is a fantastic incentive for active traders like me. With a minimum deposit of just $50, it’s accessible for everyone. FXCM is my go-to broker! – Keith
Pros and Cons
✅Pros | ❌Cons |
Easy Account Setup | Limited Product Portfolio |
Good Technical Tools | High Withdrawal Fees |
Conclusion
FXCM stands out as a versatile broker suitable for a diverse range of traders. Its commitment to regulatory compliance and security, along with a wealth of educational resources, ensures that traders can make informed decisions. While higher spreads in some markets may be a drawback, the overall range of features and tools available positions FXCM as a strong contender in the forex trading space.
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Frequently Asked Questions
What is the minimum deposit for FXCM?
The minimum deposit is $50.
What trading platforms does FXCM offer?
FXCM offers Trading Station and MetaTrader 4.
Is FXCM regulated?
Yes, FXCM is regulated in multiple jurisdictions.
What are the spreads at FXCM?
Spreads start from 0.2 pips, depending on the account type.
Can I open a demo account with FXCM?
Yes, FXCM offers a demo account.
What is the average withdrawal processing time?
The average withdrawal processing time is 1-5 business days.
Does FXCM offer negative balance protection?
Yes, FXCM provides negative balance protection.
Is there an Islamic account option?
Yes, FXCM offers Islamic accounts.
What educational resources does FXCM provide?
FXCM offers articles, videos, and tutorials, along with forex courses and webinars.
What is the leverage offered by FXCM?
FXCM offers leverage of up to 1:400.