Forex Financial Services
FXCM
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Overview
Forex Financial Services was founded in 2008 and is headquartered in Australia, while FXCM was established in 1999 and is based in United States. Forex Financial Services holds licences including Australian Securities and investment Commission (ASIC), while FXCM is regulated by Financial Conduct Authority (FCA) among others. Forex Financial Services serves 10,000+ clients worldwide; FXCM has 10,000+. The minimum deposit is $2500 at Forex Financial Services and $1 at FXCM.
| Feature | Forex Financial Services | FXCM |
|---|---|---|
| Min. Deposit | $2500 | $1 |
| Regulation | Australian Securities and investment Commission (ASIC) | Financial Conduct Authority (FCA) |
| Founded | 2008 | 1999 |
| Country | Australia | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Forex Financial Services and FXCM, directly affecting your bottom line as a trader. FXCM has a lower barrier to entry with a minimum deposit of $1 (vs $2500 at Forex Financial Services). Neither broker charges withdrawal fees. Forex Financial Services charges deposit fees; FXCM does not. Overall, FXCM scores higher on fees in our assessment.
| Feature | Forex Financial Services | FXCM |
|---|---|---|
| Min. Deposit | $2500 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Forex Financial Services offers MT4, MT5, cTrader, while FXCM supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Forex Financial Services supports social and copy trading features, which FXCM does not offer. The two brokers are closely matched on platform offering.
| Feature | Forex Financial Services | FXCM |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4 | 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 Forex Financial Services and FXCM compare. FXCM runs regular live webinars; Forex Financial Services does not. FXCM has a video library; Forex Financial Services does not. FXCM publishes daily market commentary; Forex Financial Services does not. FXCM integrates third-party research tools (Trading Central, Autochartist); Forex Financial Services does not. FXCM maintains an archive of past webinars for on-demand viewing. FXCM scores higher overall in education and research.
| Feature | Forex Financial Services | FXCM |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Forex Financial Services 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 | Forex Financial Services | 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 Forex Financial Services 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 | Forex Financial Services | FXCM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |