FXCM
Phoenix Markets
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Overview
FXCM was founded in 1999 and is headquartered in United States, while Phoenix Markets was established in 2013 and is based in Cyprus. FXCM holds licences including Financial Conduct Authority (FCA), while Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. FXCM serves 10,000+ clients worldwide; Phoenix Markets has 10,000+. The minimum deposit is $1 at FXCM and $500 at Phoenix Markets.
| Feature | FXCM | Phoenix Markets |
|---|---|---|
| Min. Deposit | $1 | $500 |
| Regulation | Financial Conduct Authority (FCA) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 1999 | 2013 |
| Country | United States | Cyprus |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FXCM and Phoenix Markets, directly affecting your bottom line as a trader. FXCM has a lower barrier to entry with a minimum deposit of $1 (vs $500 at Phoenix Markets). Neither broker charges withdrawal fees. Overall, FXCM scores higher on fees in our assessment.
| Feature | FXCM | Phoenix Markets |
|---|---|---|
| Min. Deposit | $1 | $500 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
FXCM offers MT4, MT5, cTrader, while Phoenix Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | FXCM | Phoenix Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps | MT4,mac,Android.iPhone/iPad |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how FXCM and Phoenix Markets 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. FXCM scores higher overall in education and research.
| Feature | FXCM | Phoenix Markets |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. FXCM accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Phoenix Markets supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | FXCM | Phoenix Markets |
|---|---|---|
| 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 FXCM and Phoenix Markets 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 | FXCM | Phoenix Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |