Binance
FXCM
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Overview
Binance was founded in 2017 and is headquartered in Japan, while FXCM was established in 1999 and is based in United States. Binance holds licences including Unregulated, while FXCM is regulated by Financial Conduct Authority (FCA) among others. Binance serves 13500000 clients worldwide; FXCM has 10,000+. The minimum deposit is $100 at Binance and $1 at FXCM.
| Feature | Binance | FXCM |
|---|---|---|
| Min. Deposit | $100 | $1 |
| Regulation | Unregulated | Financial Conduct Authority (FCA) |
| Founded | 2017 | 1999 |
| Country | Japan | United States |
| Clients | 13500000 | 10,000+ |
Fees
Fees are a critical factor when choosing between Binance and FXCM, directly affecting your bottom line as a trader. FXCM has a lower barrier to entry with a minimum deposit of $1 (vs $100 at Binance). Binance charges withdrawal fees while FXCM does not, a notable advantage for frequent withdrawers. Binance charges deposit fees; FXCM does not. Overall, FXCM scores higher on fees in our assessment.
| Feature | Binance | FXCM |
|---|---|---|
| Min. Deposit | $100 | $1 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Binance offers MT4, MT5, cTrader, a proprietary platform, while FXCM supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Binance supports social and copy trading features, which FXCM does not offer. Binance edges ahead on platform breadth and functionality in our scoring.
| Feature | Binance | FXCM |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Desktop, Android, iPhone/iPad, Mac | MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Binance and FXCM compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | Binance | FXCM |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Binance accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while FXCM supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Binance | FXCM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Binance and FXCM offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Binance | FXCM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |