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FXCM Guide – Read our In-Depth FXCM Review

This FXCM review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.

Please note that due to regulations, the content in this FXCM review does not apply to US users.

This FXCM review contains the most recent information about FXCM.

If you're a new entrant in the realm of trading and brokerage, so many facts will be perplexing for you. Getting into the world of trading demands expert assessing skills and comprehensive knowledge. You'll get proficient at all the concepts of brokerage as you continue trading. For starters, you need to select the right broker who will be transparent with you always.

Within this fast-paced universe of stock markets and trading, you'll need advice to make proper decisions. A professionally direct investment program will generate hefty returns. FXCM is just one such platform that will take you and your investment into great heights. It's crucial to understand all about FXCM before you trust them with your money.

FXCM review

Our entire FXCM Review covers everything you need to learn about trading using FXCM. A fantastic agent can multiply your initial investments and provide you positive profits. If you would like to make profits, you should trade with a brokerage service that contrasts with your investment objectives.

There's absolutely no sure-fire way to ensure profits; thus, you must carefully assess your broker before you choose them. It's a frequent misconception that all agents will be the same, but that's not correct. Wrong judgment, initially, can set your investments in danger.

FXCM is a broker which has paved its way successfully into the brokerage world. In this review, we've tried to collate a number of the important facets of FXCM. This review can help you to know whether FXCM is a fantastic fit for your investments or not. We've attempted to breakdown all the qualities and fees for your advantage.

FXCM Review, Table Of Contents

Who are FXCM?

FXCM is a foreign exchange broker headquartered in United States and provides a variety of instruments for trading. Since its inception in 1999, FXCM has emerged as a top player in the industry of online brokerage. FXCM includes an extremely aggressive and full-featured trading website that is focused on currency, indices, metals, stocks , commodities.

Over the past 22 years, FXCM has grown into one of the leading online brokers.

After launching in 1999, their consumer base is becoming as big as 10,000+ clients.

FXCM is a favorite for many traders.. Our FXCM review discovered that they are an superb choice for automated trading solutions. It is most appropriate for investors that are searching for an assortment of assets. Social and automated trading solutions are the heart at FXCM.

Technology plays a substantial role in FXCM. FXCM features trading on MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps. FXCM is honest, transparent, and a well-regulated broker by the Financial Conduct Authority (FCA). Their outstanding variety of resources will be beneficial for most traders. Third-party partnerships also supply in-house analysis.

The educational section at FXCM is quite enlightening for new dealers as it allows them to get a closer look at the financial markets. FXCM caters to all sorts of traders and are a must-have broker for any well-diversified approach to online trading.

Benefits of doing online trading with FXCM?

Trading with FXCM comes with numerous benefits. These advantages are what sets FXCM apart from all other online agents. You need to check all the benefits listed so that you have a better comprehension of FXCM.

The broker goes to great lengths to understand what dealers need. Consequently, the service cost is low, quick, and convenient. The broker also gives a variety of platforms for all kinds of traders. FXCM helps to ensure that the individual needs of all traders are completely met.

FXCM also features excellent trading conditions which are readily available to just an elite group of institutional customers. The tight spreads and quick executions are a great advantage for those traders. The technology embraced by FXCM is among the highest caliber, making sure that it is fast, reliable, and efficient.

FXCM admits the importance of having a fast order execution. A quick execution will allow users to exchange without fretting about slippage safely. It is going to also aid the traders to grab the maximum profitable opportunities.

Automated trading is another important facet of FXCM. A new dealer can learn from industry experts using the automatic trading option. The tight spread starts from as low as 0.0 pips, though they are offered for only razor accounts.

FXCM has over 100 trading tools to support all types of traders. These instruments are dynamic and suitable for both new and seasoned traders. The traders can set aside all their worries when trading with FXCM.

FXCM overview

Year Founded: 1999

Regulated By: Financial Conduct Authority (FCA)

Hedquarters: United States

Minimum Deposit: $1

Number Of Clients: 10,000+

Losses can exceed deposits

If you feel that FXCM is not right for you then at the bottom of this FXCM review you wil find a lot of alternatives to FXCM.

Everything you should know about trading using FXCM

FXCM is a dynamic platform that provides various procedures of trading. These tools cover the financial markets considerably. Most of the brokerage platforms provide fewer approaches than FXCM

If you want to trade with FXCM, you will need a minimum deposit of $1. This deposit is mandatory if you would like to begin trading using FXCM. This 2021 FXCM review will direct you clearly about trading with them.

FXCM is as versatile as another broker platform. FXCM is great for traders who want a manageable assortment of low-cost services. The platforms provided by FXCM are third party, white-label offerings. All traders can select from MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps.

Together with everything, FXCM has multiple benefits to new and verteran traders and should be investigated. There is no minimum time over which a trade must be kept open. The agents provide premium client service which rewards clients with advantages.

Many unprofessional brokers attempt to pressurise consumers into bigger funding for premium services. FXCM, on the other hand, is much more concentrated on trading volume. Traders can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the consumer, the further advantages will become available.

FXCM accounts are available around the world and provides quality service everywhere they have customers. There are only a select few countries where FXCM accounts are not available. Traders in the following countries cannot open or use a FXCM account:

Is FXCM Safe To Trade With?

Established in 2006, FXCM has been open for 22 years, they have a head office in United States.

FXCM is regulated by Financial Conduct Authority (FCA). These bodies have rules that ensure that trading platforms have steps in place to maintain investor's assets secured. This usually means that FXCM users don't need to worry about their money as it is segregated and safely stored in established banks. SSL encryption secures every user's private information as well.

You can make use of a choice for 2 Factor Authentications (2FA) with FXCM for heightened safety. An SMS for the confirmation code will be sent to a phone. You will be asked to enter this code to log into your account.

Another concern with fiscal brokers is in regards to security may be manipulation of trading. This is highly disadvantageous for consumers on these platforms. Nonetheless, this is much more widespread in the example of Market Maker brokers who compete with customers on the stage.

Pro's & Con's Of Trading With FXCM

Every online trading platform has a few pros and cons FXCM review would be complete without having a balanced approach. This FXCM review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.

FXCM Pro's

  • FXCM is trusted by 10,000+ clients
  • FXCM doesn't charge inactivity fees
  • FXCM doesn't charge deposit fees
  • FXCM doesn't charge CFD fees
  • FXCM offer trading on MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps
  • FXCM offer 100 trading instruments
  • FXCM trades major forex pairs
  • FXCM trades minor forex pairs
  • FXCM trades exotic forex pairs
  • FXCM can communicate in

FXCM Con's

  • FXCM does not offer Negative Balance Protection
  • FXCM does not offer Guaranteed Stop Loss
  • FXCM charge withdrawal fees
  • FXCM doesn't offer trading on cryptocurrencies

FXCM Review - Compare Brokers Similar To FXCM

FXCM Spreadex Forest Park FX Eightcap
Rating 4/5 4/5 4/5 4/5
Minimum Deposit $1 $1 $10 $100
Year Founded 1999 1999 2008 2015
Headquarters United States UK United Kingdom Australia
Regulated By Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) Australian Securities and Investment Commission (ASIC)
Clients 10,000+ 10,000+ 10,000+ 10,000+
Find Out More
Risk Warning Losses can exceed deposits Losses can exceed deposits Your capital is at risk Losses can exceed deposits

FXCM Review - Regulation And Licencing In More Detail

FXCM is regulated by Financial Conduct Authority (FCA).

FXCM, as a business, has a strong collection of rules for ensuring honest trading onto its platform. For data encryption purposes, it provides an industry-standard secure socket layer (SSL).

In accordance with the organization's privacy regulations, customer data is to not be shared with some other institutions or individuals. This includes credit history and other financial details.

FXCM Review - Awards

    At the time of writing this FXCM review, they had not received any awards.

FXCM Review - Minimum Deposit Required

The minimum deposit you need to begin on FXCM is $1. This is a decent amount for those just starting out. It's possible to create more advanced deposits as you go along. However, make certain that you know how to make the most of your money before investing in larger sums.

FXCM Review - Commission And Fees Explained

FXCM is an online brokerage platform, and most online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the companies of online brokerages are scaled much better. In other words, an online broker isn't necessarily affected by the number of customers they have.

But this doesn't necessarily mean that online brokers do not charge any fees. They charge prices of varying rates for a variety of services to earn money. There are mainly 3 types of penalties for this purpose.

The first sort of charges to keep an eye out for are trading charges. Whenever you make an actual trade, like purchasing a stock or an ETF, you are billed trading fees. In such instances, you are paying a spread, financing rate, or a commission. The kinds of trading charges and the rates vary from broker to broker.

Commissions can be fixed or determined by the traded quantity. On the flip side, a spread denotes the gap between the buying and selling price. Financing or overnight rates are those who are charged when you hold a leveraged position for longer than daily.

Apart from trading charges, online brokers also charge non-trading fees. These are determined by the actions you undertake on your accounts. They are charged for operations like depositing cash, not trading for lengthy periods, or withdrawals.

Generally, FXCM doesn't charge high fees in comparison to other online brokers. For operations other agents charge for, they either do not charge a broker fee, or they charge a lesser amount. This is beneficial for those who often exchange, for example weekly or daily trading.

However, non-trading fees charged by FXCM are comparatively greater. Consequently, you're charged more for non-trading actions on your trading accounts, such as deposits and withdrawal. These aren't related to the sale and purchase of assets.

This FXCM review breaks down every one of the relevant non-trading charges for you in detail.

Compare broker fees against FXCM

FXCM Spreadex Forest Park FX Eightcap
Minimum Deposit $1 $1 $10 $100
Withdrawal Fees variable No 2.50% Yes
Inactivity Fees No No No
Deposit Fees No No Yes
CFD Fees 0.08% per share charge per side No Yes

FXCM Review - Withdrawal Fees Explained

FXCM charges a withdrawal fee when you make a bank transfer. Each time you transfer money into your bank account, these withdrawal charges become important.

Withdrawal of money is possible at any moment from your FXCM account. You can withdraw sums up to the sum of your account balance, keeping aside the perimeter utilized. One thing to remember is that you don't necessarily have to have any money in your account.

Moreover, the withdrawn money will be moved directly to the account you use to create deposits. Therefore, in the event that you used a credit card for deposits, the withdrawn cash will be sent to the card. FXCM will ask you to offer other withdrawal methods if your details have changed since your deposit.

There is a minimum withdrawal amount. In case you are withdrawing money in different currencies from USD, a conversion fee is also important. The conversion fee will depend on the currency you're opting to withdraw in.

FXCM Review - Inactivity Fees Explained

Understanding whether you will be charged inactivity fees is only one of those buzzing questions that run through your head while open an account with FXCM. An inactivity fee is an amount charged to registered traders who have not participated in purchasing or selling for a while. The period considered inactive is determined by the broker.

The inactivity fee differs from 1 agent to another and is not standardized. If a dealers account does not have a buying or selling trade, it's claimed by the broker as an inactivity charge. The traders have to pay this fee under conditions and terms that they had agreed while enrolling.

FXCM doesn't charge inactivity fees so you are free to pop in and out of your account as needed

Even if no charges have been indicated by FXCM, it's better for you to close the account if you are inactive. Inactivity fees are not only charged by brokerage firms but also many financial services.

For other trading platforms, the inactivity fee is contingent upon the type of account you have selected. The inactivity fee is exposed to a lot of conditions and needs to be revealed clearly by the agent beforehand.

FXCM Review - Deposit Fees Explained

When you transfer money into your trading account from the bank account, a deposit fee can be billed by the broker. Most agents don't charge too much money for this particular operation.

FXCM doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed

Depositing cash on the FXCM trading platform is easy. You simply have to finish a single-user profile survey to begin depositing money into your trading account. You'll need to provide an identity evidence and evidence of residency to deposit large amounts.

FXCM Review - Compare Broker Deposit Methods

FXCM Spreadex Forest Park FX Eightcap
Minimum Deposit $1 $1 $10 $100
Credit Card Yes Yes
PayPal No No
Neteller No No
Skrill Yes No
Payoneer Yes Yes

What Can You trade With FXCM?

Note: FXCM provides a lot of different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered may differ based on the country of residence of the client.

FXCM has a wide variety of over 100 instruments available for you to trade with.

If trading currency pairs is of interest to you then FXCM offer over 50 forex pairs.

Compare FXCM, Spreadex, Forest Park FX & Eightcap below.

FXCM Spreadex Forest Park FX Eightcap
Platforms MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, Forex Trader Pro, Desktop, Web, Mobile MT4, Tablet & Mobile apps
Instruments Available 100 15,000 102 100
Forex & Crypto
Forex Pairs Available 50 55 45
Offers Major Forex Pairs? Yes Yes Yes Yes
Offers Minor Forex Pairs? Yes Yes No Yes
Offers Exotic Forex Pairs? Yes Yes No Yes
Offers Cryptocurrencies? No Yes No No
Commodity CFD's
Commodities Offered 0 16 0 0
Trade Metals? Yes Yes Yes Yes
Trade Energies? Yes Yes Yes Yes
Trade Agricultural? No Yes Yes No
Indiced & Stock CFDs
Stocks Offered 0 16 0 0
Trade UK Shares? No Yes No No
Trade US Shares? No Yes Yes No
Trade German Shares? Yes Yes No Yes
Trade Japanese Shares? No Yes No Yes

Losses can exceed deposits

Losses can exceed deposits

Your capital is at risk

Losses can exceed deposits

Alternatives To FXCM

If, after reading this FXCM review, FXCM does not fulfill your requirements check out these FXCM alternatives.

We have scoured the internet to find the best alternatives to FXCM. Click on the links below to learn more.

Frequently Asked Questions about FXCM

Can I try FXCM before I buy?

Yes, you can most certainly try FXCM before you buy. FXCM offers demo accounts for the ease of beginner traders. You may use this feature to build your faith in the machine and yourself and your trading strategies.

If you register for a demo account on FXCM, you may set out using a decent amount of virtual money. It's to establish a feeling of safety and confidence in you until you decide to invest your own money.

With this virtual FXCMdemo account, you are able to experiment at all, to whatever length you desire. You might also open positions, test different trading strategies, and more.

FXCM specifies on its official site that you are able to trade real time stocks with your demo account.

Is FXCM safe?

You can drop all your worries because we believe that FXCM is perfectly safe to use. It is in compliance with the principles of Financial Conduct Authority (FCA).

Nevertheless, FXCM does not provide assured stop-loss protection.

Why does FXCM ask for my passport?

The reason that FXCM asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, FXCM has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, FXCM must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.

How can I start trading with FXCM?

The process to start trading withFXCM is perhaps simple enough to be a cakewalk. You need to begin by signing up on the FXCM website. It will require you to fill in details pertaining to the credibility and security of your account.

Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with FXCM is $1. You should have a good hold over the nuances of online trading before you set out and trade with real money.

If you are confident of your knowledge and understanding, you can open an account with FXCM.

The best way to kickstart your trading career with FXCM is to open a demo account facility before risking any real money

What funding methods do FXCM accept?

There are multiple methods to fund your account with FXCM. The process is effortless and quick, with various payment methods in your fingertips.

You can use credit or debit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You must bear in mind that PayPal is not available in all country. The currencies FXCM

Is my money safe with FXCM?

Yes, your cash is safe and protected with FXCM. As you know, FXCM works with proper conformation to. It's established plenty of steps to protect all of its investors.

FXCM safeguards its clients' personal and sensitive data under SSL encryption. Your funds will be retained highly secure in top-tier banks.

If you want to further safeguard your account, you can empower Two-Step Verification also. It takes an SMS affirmation that you get your account.

Is FXCM trading good?

Yes, trading through FXCM is a nice and good experience indeed. It's a great and intuitive platform with helpful features for your simplicity. Moreover, you can also obtain access to a vast collection of educational tools and assistive material to kickstart your trading experience.

If you are still skeptical, you can start a eToro demo account and evaluate the trustworthiness of the platform on your own.

Which Countries does FXCM support?

FXCM operates around the world. However, due to regulations there are some countries that FXCM can't accept clients resident in

Is FXCM legit?

FXCM is a legit company headquarted in United States since 1999. They are regulated by Financial Conduct Authority (FCA). FXCM is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.

Is FXCM a good broker?

FXCM is a great agent, and its own users may vouch for it. The highlight of the platform is its quick order execution on trades.

You will find the clean layout of this platform and the commendable features that a pleasure to work with.

Is FXCM a trustworthy broker?

Yes, FXCM is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.

What is the minimum deposit for FXCM?

The minimum deposit to open a live account with FXCM is $1

How long do FXCM withdrawals take?

Normally, withdrawal of money from FXCM is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from FXCM to show in your bank account.

Are FXCM regulated?

FXCM are regulated by Financial Conduct Authority (FCA)

Is FXCM a market leading broker?

FXCM is currently one of the industry leaders. It supports over 10,000+ registered users and over 22 years of experience on its own record. They're among the world's top trading platforms and a dominant figure in the Fintech revolution.

It simplifies this standing to its unbelievable platform and broad selection of resources plus tools so you may put money into capital markets.

Is FXCM a con?

No, FXCM is not a con. They are regulated by Financial Conduct Authority (FCA) and must adhere to their rules. Thus, it is safe to say that FXCM is not a scam.

Can you make money with FXCM?

Using FXCM, several traders earn a great deal of money. However, on average, through continual trading, you can create between 2% - 10% profit a month.

This may seem to be a small number, but over the entire year, this adds to a significant amount of gains. While FXCM supply you all of the tools to make money, they cannot guarantee that you will profit.

Does FXCM have fees?

Yes. To begin trading with FXCM, you have to deposit $1. Particular commissions while trading also apply. Any processing fees from your bank might have to be incurred by you.

When was FXCM founded?

FXCM was founded in 1999 in United States. FXCM is regulated by Financial Conduct Authority (FCA).

How many people use FXCM?

FXCM is a worldwide recognised agent with 10,000+ customers.

Where is the FXCM head office?

FXCM has its head office in United States

Does FXCM offer negative balance protection?

No. FXCM does not provide negative balance protection. If your balance is unfavorable, FXCM indicates that you contact customer services. For this, you can correct any imbalances within your account.

Does FXCM offer guaranteed stop loss?

FXCM regrettably, does not offer guaranteed stop loss. FXCM provides an opportunity for its dealers to close their trade in their specified price. Apart from that, FXCM doesn't offer guaranteed stop loss.

Does FXCM allow scalping?

Yes, FXCM do permit scalping. Several traders across the world choose FXCM due to their scalping services. They offer trading on MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps which allow this.

Does FXCM allow hedging?

Yes, FXCM does allow hedging.

Can you trade energies with FXCM?

Yes, you can trade energy stocks with FXCM

Can you trade agricultural shares with FXCM?

No, unfortunately you cannot trade agricultural stock with FXCM

Can you trade cryptocurrency with FXCM?

No, unfortunately you cannot trade cryptocurrency with FXCM

Can you trade metals with FXCM?

Yes, you can trade metals with FXCM

Can you trade UK Shares with FXCM?

No, unfortunately you cannot trade UK shares with FXCM

Can you trade US Shares with FXCM?

No, unfortunately you cannot trade US shares with FXCM

Can you trade Japanese Shares with FXCM?

No, unfortunately you cannot trade Japanese shares with FXCM

Can you trade German Shares with FXCM?

No, unfortunately you cannot trade German shares with FXCM

Does FXCM accept bank transfers?

No, FXCM does not accept bank transfers.

Does FXCM accept credit cards?

No, FXCM does not accept credit cards.

Does FXCM accept PayPal?

No, FXCM does not accept PayPal.

Does FXCM accept Skrill?

No, FXCM does not accept Skrill.

Does FXCM accept Payoneer?

No, FXCM does not accept Payoneer.

Does FXCM accept Neteller?

No, FXCM does not accept Neteller.

Does FXCM offer Live Chat customer support?

No, FXCM does not offer customer support through live chat.

Does FXCM offer phone customer support?

No, FXCM does not offer customer support over the telephone.

Does FXCM offer email customer support?

No, FXCM does not offer customer support through email.

What languages can FXCM communicate in?

FXCM has the ability to communicate and support customers who speak:

Does FXCM have a wikipedia page?

No, FXCM does not have an official wikipedia page.

Does FXCM offer demo accounts?

Yes, FXCM offers demo accounts so you can learn their systems before risking any real money.