FXCM
WellsTrade
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
FXCM was founded in 1999 and is headquartered in United States, while WellsTrade was established in 2008 and is based in United States. FXCM holds licences including Financial Conduct Authority (FCA), while WellsTrade is regulated by Unregulated among others. FXCM serves 10,000+ clients worldwide; WellsTrade has 10,000+. The minimum deposit is $1 at FXCM and $30 at WellsTrade.
| Feature | FXCM | WellsTrade |
|---|---|---|
| Min. Deposit | $1 | $30 |
| Regulation | Financial Conduct Authority (FCA) | Unregulated |
| Founded | 1999 | 2008 |
| Country | United States | United States |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between FXCM and WellsTrade, directly affecting your bottom line as a trader. FXCM has a lower barrier to entry with a minimum deposit of $1 (vs $30 at WellsTrade). Neither broker charges withdrawal fees. The two brokers are broadly comparable on fee structure.
| Feature | FXCM | WellsTrade |
|---|---|---|
| Min. Deposit | $1 | $30 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
FXCM offers MT4, MT5, cTrader, while WellsTrade 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 | WellsTrade |
|---|---|---|
| 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 | iPhone,Tablet,Mac,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how FXCM and WellsTrade compare. FXCM runs regular live webinars; WellsTrade does not. FXCM has a video library; WellsTrade does not. FXCM publishes daily market commentary; WellsTrade does not. FXCM integrates third-party research tools (Trading Central, Autochartist); WellsTrade does not. FXCM maintains an archive of past webinars for on-demand viewing. FXCM scores higher overall in education and research.
| Feature | FXCM | WellsTrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| 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 WellsTrade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | FXCM | WellsTrade |
|---|---|---|
| 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 WellsTrade 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 | WellsTrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |