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FXCM Review

FXCM Review

 

Overall, FXCM is considered a low-risk and can be summarised as trustworthy and reliable. In terms of 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
📝 RegulationFCA
💰 Min. Deposit$50 USD
🔁 Spread from1.4
✅ Tradeable Symbols276
💵 Forex Pairs42
💳 Cryptocurrency❌ No
💻 Trading PlatformMT4
🚀 Open an Account👉 Click Here

 

Overall Rating

4.6/5

Rated #26 of
Recommended FX Brokers

💰Minimum Deposit

USD 300

🌐 Regulators

FCA, FSCA

📱 Trading Desk

MetaTrader 4, Trading Station

Crypto

Yes

📈 Total Pairs

7

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FXCM Review – 19 Key Point Quick Overview

 

  1. ☑️ FXCM Overview
  2. ☑️ FXCM Safety and Security
  3. ☑️ FXCM Sign Up Bonus
  4. ☑️ FXCM Minimum Deposit
  5. ☑️ FXCM Account Types
  6. ☑️ FXCM Islamic, Swap-Free Account
  7. ☑️ FXCM Demo Account
  8. ☑️ How to Open an FXCM Account – A Step by Step Guide
  9. FXCM Trading Platforms
  10. FXCM Fees, Spreads, and Commission
  11. FXCM Deposit and Withdrawal
  12. FXCM Affiliate Program
  13. FXCM Best Countries By Traders
  14. FXCM vs Plus500 vs XM – A Comparison
  15. FXCM Customer Reviews
  16. FXCM Current Popularity Trend
  17. FXCM Pros and Cons
  18. Conclusion
  19. Frequently Asked Questions

 

FXCM Top Banner

 

FXCM 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 global locations, including Berlin and Sydney. More than 130’000 customer accounts are registered worldwide.

 

 

FXCM 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.

 

FXCM Safety and Security

 

FXCM Sign Up Bonus

 

FXCM does offer both a Sign-Up / Welcome bonus of  $25 USD  plus a Deposit Bonus of up to $300 USD respectively.  A Trader has to deposit a minimum of $50 USD to earn a deposit of up to $300 USD.

 

✅ Tier💰 Deposit✨ Bonus
1️⃣ Tier 1$50 - $999$25
2️⃣ Tier 2$1000 - $2499$100
3️⃣ Tier 3$2500 - $4999$200
4️⃣ Tier 4$5000$300
🎉 Claim Bonus Now!👉 Click Here👉 Click Here

 

FXCM Sign Up BonusFXCM Welcome Bonus

 

FXCM Minimum Deposit

 

The minimum deposit amount required to register an FXCM live trading account range from $50 USD to $300 USD.  The account balance for the Active Trader account is $25’000 USD.

 

🔎 Account Type🥇 Standard🥈 Active Trader
💰 Minimum Deposit$50 USD - $300 USD$25'000 USD (Account Balance)
🚀 Open an Account👉 Click Here👉 Click Here

 

FXCM Minimum Deposit

 

FXCM 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 $50 USD.

 

🔎 Account🥇 Standard🥈 Active Trader
💰 Min Deposit$50 USDN/A
💵 Account EquityN/A$25'000 USD
☑️ Account CurrencyUSD, GBP, EURUSD, GBP, EUR
📈 Leverage1:301:30
🔁 Spreads from1.31.3
💳 CommissionYesYes
📊 ForexYesYes
🍎 Commodities CFDsYesYes
📉 Crypto CFDsYesYes
📈 Indices CFDsYesYes
🆓 Demo OptionYesYes
✅ Swap / Rollover Fee📌 No📌 No
➕ Copy TradingYesYes
🚀 Open an Account👉 Click Here👉 Click Here

 

FXCM Account Types

 

FXCM Islamic, Swap-Free Account

 

FXCM does offer an Islamic, Swap-Free trading account that is roll-over fee-free.  FXCM offers Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries. Spreads plus Commission may apply.

 

🔎 Broker🥇 FXCM
☪️ Islamic Account✅ Yes
🔁 Swap Fee❌ No
💳 Commission☑️ Yes
🚀 Open an Account👉 Click Here

 

FXCM Islamic Account 1

 

FXCM Demo Account

 

FXCM does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. A demo account generally expires after 30 days.  The FXCM Demo Account comes pre-loaded with  £50,000 in virtual funds.

 

🔎 Account🆓 Demo
💰 CurrencyUSD, GBP, EUR
📈 Leverage1:30 (Retail)
💵 Min. Deposit📌 None
🔁 Spreads from1.3
📌 Commission📌 None
⚙️ InstrumentsN/A
📉 ForexYes
🍎 Commodities CFDsYes
📊 Cryptocurrency CFDsYes
💻 Indices CFDsYes
✅ Swap / Rollover Fee📌 No
☑️ Copy TradingYes
🚀 Open an Account👉 Click Here

 

FXCM Demo Account

 

How to Open an FXCM Account – A Step by Step Guide

 

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.

 

FXCM Account 1 FXCM Account 2

 

2.  Step 2:  Apply Now.

The applicant must now select their country of residence plus their preferred platform for trade.

 

FXCM Account 3

 

3.  Step 3:  General Information.

The following step is for the applicant to complete a selection of general information, including their preferred account option.

 

FXCM Account 4

 

4.  Step 4:  Personal Information.

The applicant will be required to complete a Personal Information section, including citizenship, date of birth, and more.

 

FXCM Account 5.1

 

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 in regards to the applicant’s trading history.

 

FXCM Account 6.1 FXCM Account 7

 

6.  Step 6:  Security and Referral

The final set of questions to complete will be concerning security measures plus a referral.

 

FXCM Account 8

 

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.

 

FXCM Account 9

 

FXCM Trading Platforms

 

FXCM makes multiple trading platforms available, including its own proprietary platform, Trading Station.  Other available trading platforms include MetaTrader4 and NinjaTrader.

 

🔎 Platforms🥇 Trading Station💻 MetaTrader4📌 NinjaTrader
📌 1K Micro Lots✅ Yes☑️ Yes✅ Yes
🖥️ Automated Trading☑️ Yes✅ Yes☑️ Yes
📊 Pre-Loaded Strategies✅ Yes☑️ Yes✅ Yes
📈 Advanced Back Testing☑️ Yes✅ Yes☑️ Yes
📉 Chart Trading✅ Yes☑️ Yes✅ Yes
📁 One-Click Trading☑️ Yes✅ Yes☑️ Yes
📧 Email/SMS Alerts✅ Yes☑️ Yes✅ Yes
🖱️ Custom Indicators☑️ Yes✅ Yes☑️ Yes
☑️ Desktop✅ Yes☑️ Yes✅ Yes
📱 Web and Mobile☑️ Yes✅ YesN/A

 

FXCM Trading Station FXCM MT4 FXCM MinjaTrader

 

FXCM Fees, Spreads, and Commission

 

FXCM is considered a low-risk and can be summarised as trustworthy and reliable. Trading with FXCM involves fees from $50 USD, spreads from 0.2 pips to 1.3 pips, and commissions depending on the account type selected.  With a minimum deposit fee of $50 USD.

 

🔎 Account🥇 Standard🥈 Active Trader
💰 Min Deposit$50 USDN/A
💵 Account EquityN/A$25'000
📈 Leverage1:301:30
🔁 Spreads from1.30.2
💳 CommissionYesYes
✅ Swap / Rollover Fee📌 No📌 No
🚀 Open an Account👉 Click Here👉 Click Here

 

FXCM Fees and Spreads

 

FXCM 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”.

 

FXCM Deposit and Withdrawal

 

 

 

 

FXCM 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 is:

 

  • Have an account with FXCM or open a new account
  • Meet a minimum notional volume requirement of USD 10 Million on a monthly basis

 

FXCM Affiliate Programs

 

FXCM Best Countries By Traders

 

🌎 Country of Trade📌 % of Traders
🥇 United Kingdom20.18
🥈 Vietnam9.02
🥉 United States5.54
Mexico5.21
France5.02

 

FXCM Countries

 

FXCM vs Plus500 vs XM – A Comparison

 

🔎 Broker🥇 FXCM🥈 Plus500🥉 XM
💰 Min. Deposit$50€100$5
🔁 Tradeable Symbols27618961372
☑️ Forex Pairs427157
✅ Average Spread1.40.61.6
💻 MetaTrader4Yes📌 NoYes
🚀 Open an Account👉 Click Here👉 Click Here
👉 Click Here

 

FXCM Comparison

 

FXCM Customer Reviews

 

Great Experience.

Excellent attention from the Customer Support Team. I really appreciate it. The platform is fast, and easy to use and everyone that I could talk to was very nice and professional. Thank you so much! – Fred

 

TrustPilot 5 Star

 

 

Very Good Service.

Very good service! Very fast, practical, and effective. – Rafael

 

TrustPilot 4 Star

 

Highly Recommend!

I am giving FXCM ten stars for customer service. Everything has been consistent and professional. – Keith

 

 

TrustPilot 3 Star

 

FXCM Current Popularity Trend

 

According to Google Trends, here is an overview of how frequently the search term “FXCM” is entered into Google’s search engine over a given period of time.

 

FXCM Trend 1 FXCM Trend 2

 

FXCM Pros and Cons

 

❌ Pros✔️ Cons
Easy Account SetupLimited Product Portfolio
Good Technical ToolsHigh Withdrawal Fees

 

 

Overall Rating

4.6/5

Rated #26 of
Recommended FX Brokers

💰Minimum Deposit

USD 300

🌐 Regulators

FCA, FSCA

📱 Trading Desk

MetaTrader 4, Trading Station

Crypto

Yes

📈 Total Pairs

7

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

Conclusion

 

Overall, FXCM can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market.

 

 

You might also like: FXCM Sign up Bonus

You might also like: FXCM Demo Account – Step by Step

You might also like: FXCM Fees and Spreads

You might also like: FXCM Minimum Deposit

You might also like: FXCM Account Types Overview

 

 

Disclaimer

 

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The trading of financial instruments involves a high level of risk where traders can lose amounts that exceed their initial deposit, thus trading financial instruments and this level of risk is not suitable for all traders.

The information provided on the FXCM website is purely for information purposes and should not be regarded as an encouragement or recommendation to invest in financial instruments.

 

 

Frequently Asked Questions

 

Is FXCM a fake or a scam?

 

No, FXCM is definitely not a scam or fake broker. FXCM is a trustworthy broker who  is authorized by three tier-1 regulators (high trust), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust).

 

What are the advantages of trading with FXCM?

 

FXCM is the perfect choice for algorithmic forex traders and offers a wide array of related platform options, advanced charting tools, and support for automated trading strategies.

 

Which trading platforms are supported by FXCM?

 

FXCM supports  MetaTrader4, Trading Station, NinjaTrader and ZuluTrade.

 

What is the overall rating for FXCM out of 10?

 

The Overall rating for FXCM out of 10 is 9.6.

 

What type of broker is FXCM?

 

FXCM offers STP execution.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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