FXCM Broker Reviews and Full Information

What's FXCM?

In this post we will provide an honest assessment of FXCM. FXCM is a top Forex brokerage since the year 1999. The growth for FXCM has been awe-inspiring right from the beginning. The market for FXCM is expanding globally. To European, African, and Asian countries, FXCM is providing CFDs as well as Forex trade instruments.

The principal purpose for FXCM is to provide fast and easy trading for every trader. From the variety between trading platform, the deposit and withdrawal options, as well as policy, all is user-friendly. The broker is not perfect in their selection of customers.

 

Pros

Cons

UK Based broker

Customer service isn't available all hours of the day

We are known as the best Forex Broker

 

Free professional education provided by experts

 

 

Ten Points Summary

Headquarters

UK

Regulation

FCA, ASIC, FSCA

Platforms

Trading Station, Mt4, Zulu trade, Ninja Trading-View Pro, and Zulu Trade

Instruments

Forex, Commodities, Crypto-currencies Indices, Spreads, and Forex betting are available to UK as well as Ireland residents

Spread EUR/USD

1.3 pip

Demo Account

Available

Minimum deposit

50USD or 300 GBP to EU or UK traders

Base currencies

EUR USD, EUR GBP, USD, EUR

Education

Under the guidance of professional guides

Customer Care

24/5

 

Awards

In this review, mentioning awards in the report is essential since it can make people believe in the credibility of FXCM. Each year, various organizations choose a few brokers to be included in the top ten list of brokers. Winners of the categories are declared the winners for the entire year. FXCM has won numerous categories that are similar to these.

See the following list.

 

  • See the following list.
  • Best Forex Trading Automation - UK Forex Awards 2015
  • Best Customer Support - FX Empire 2018
  • Top Training - Financial Wealth 2020
  • Top Rated 2020 Forex Trading Platforms Investors Chronicle
  • Best Forex Trading Platform - Global Forex Awards 2020
  • Top Trading Instruments and Research Shares Awards 2020

 

Pros

Cons

Licences issued by FSCA, FCA, and ASIC

None

Broker that has won awards for multiple times

 

 

Is FXCM Secure or a Scam?

Still doubting the credibility of FXCM and whether it's secure to trade or is it not? Don't over-stress yourself. FXCM is among the most secure and trendy brokers in the market today. After you have signed up with FXCM, you'll immediately realize that you've made the best choice of your life.

FXCM has a keen eye on every aspect. The broker ensures that every one of its customers are enjoying trading. The policies and terms are a pleasure for customers. FXCM offers a 100 percent security guarantee for money and data security.

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How Safe Are You with FXCM?

You can feel confident and safe with FXCM. The broker offers all the services you require. The protection of balances with negative values is available. The trading tools and instruments are of the highest quality. The terms and policies are user-friendly.

From the procedure of opening an account through the withdrawal process it's all easy. To prevent damage, make sure you read the terms of service thoroughly prior to making a decision to sign up.

 

Trading Instruments

The trading instruments are here. How smooth your trading experience will be? How efficiently you'll earn money is contingent upon the trading instruments you select. Below is a listing of instruments for trading that FXCM offers.

  • Indices
  • Crypto-currency
  • Forex
  • Commodities
  • Stocks

All of these CFD instruments are very risky because of the high degree of leverage. If you use the right strategy and mental attitude and strategy, then the risk can be reversed.

 

Account

Are you considering creating an account at FXCM but aren't sure of the best way to do it? No problem. We're here to help you through the steps-by-step procedure.

There are four kinds of accounts: active Traders, spread Betting Professional Client Account as well as CFD trading.

 

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Active Trader

An active trading account is the ideal option for day-to-day traders. With this account, traders gain access to high-end services, dedicated support and customer support. Active trader accounts work best when using the VPS (Virtual Private Servers).

 

Spread Betting

This kind of account is offered only to traders who utilize instruments such as Forex, Stocks, Commodities and Indices. The levels of leverage offered are 1:1 and 30:1. However the limits on leverage are limited to specific products. In the absence of commissions the spread begins at 0.8 pip.

 

Professional Client Account

Only those traders can be qualified for this account who has experience trading and a minimum deposit of 500 000 EUR. Account holders get advantages like protection against negative balances innovative tools, as well as an attractive spread.

 

CFD Trade

People who only use CFD products can only be granted this account. CFD trader accounts permit you to pay the lowest spread and fees.

 

Fees for trading

The best news we can share is that FXCM does not charge additional withdrawal or deposition charges. FXCM has spread-based commissions. In addition, FXCM also charges rollover fees. The rollover fee applies to traders who create accounts after 5 pm and close the account by time of closing.

FXCM also charges for inactivity fees. You are required be prepared to shell out up to $50 in case of inactivity. If your account was unoccupied for more than 12 months, it will get shut down and all the money will be withdrawn.

Pros

Cons

No charges for deposition or withdrawal of funds

Inactivity is charged with a fee.

Low Forex taxes

 

It will be shut when the account is inactive for 12 months

Coupons are now available

 

 

Trade Platforms

FXCM provides trading platforms , including Zulu Trade, Ninja Trader 8, Meta-Trader 4, Trading Station, and Trading-View Pro.

 

Zulu Trade is one of the biggest trading platforms. You can utilize this platform to create a social network. This way, you are able to trade and communicate with other traders, too.

 

Ninja Trader 8 is also a fantastic trading platform. This platform offers advantages such as Automated Trading, Chart Trade advanced trading, as well as management.

 

Meta-Trader 4 doesn't require any introduction. It is a trading platform that offers uncountable trading advantages. To improve your experience trading, MT4 will be a excellent option.

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Trading Station is an online trading platform. It offers customized strategies that are automated, charts and indicators. In addition to the web-based versions, Trading Station is also accessible on mobile applications.

 

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Trade-View Pro is the most widely used platform for monetizing Stock as well as Forex charts. Select the platform for trading according to your personal needs and your experience.

Pros

Cons

Social trading is available through Zulu Trade

None

Automated trading is a feature of the system.

 

A wide range of trading platforms

 

 

Leverage

The degree of leverage is dependent on the instrument and currency that are used.

 

  • 30:1 leverage ratio on Forex pairs
  • On indicesthe leverage can be as high as 20:1.
  • For non-equity indices the leverage ratio is 10:1.
  • On certain items, leverage is limited to 2:1 and 30:1.

 

Options for Deposit and Withdrawal

As we've already mentioned, FXCM doesn't charge any extra charges. The options for deposition of money and withdrawal are a lot. See the following list.

  • Union Pay
  • Skrill
  • Debit Card Credit Card
  • BPAY Payment
  • Bank Wire Transfer
  • Neteller

There aren't any additional requirements for withdrawal procedure. There is a fee that can be charged on the wire transfer.

The entire withdrawal process could be completed in 2-5 working days.

 

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Education

Do you think it is necessary for a broker's to instruct its clients on trading? Yes, it's. The more experienced traders are the better the business and trading experience. FXCM offers high-quality video including courses, articles, and courses that will help traders.

The lessons are built around three chapters. The chapters will teach you the basics of leverage, pip spreads, and other fundamentals of trading. In addition, traders also receive 100 dollars worth of coupons.

Based on a survey that was conducted by FXCM can help beginners greatly in their trading.

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Customer Care

FXCM has topped all brokers across all categories, however this time it is lacking one aspect. The customer support of FXCM is accessible all hours of the day. When we say 24/5, it means that the support service is accessible only on Friday and Saturday evenings. The response time from the support system is swift. Support is offered in a variety of languages.

Foreign traders from countries such as Australia, New Zealand, Italy, Japan, Canada, Germany, and France can avail the service quickly.

Pros

Cons

Available in different languages

Not available 24/7

Support service is quick

 

 

Conclusion

This UK -based broker is attracting the world's attention with its outstanding and classy performance. FXCM is a multi-award-winning broker.

With just a few dollars $50, you could make an impact on your life. When you are establishing your account, be sure you research the trading. If you've been trading for a while and have a good understanding of the game, you should apply the best strategies to win.

 

Frequently asked questions (FAQs)

What types of accounts are there for FXCM?

FXCM provides CFD trading Spread betting, Professional client accounts, and an active trading account.

 

What is the platform for trading available on FXCM?

Zulu Trade, Trading Station, MT4, Ninja Trader as well as Trading View Pro are the trading platforms available on FXCM.

 

Is there a charge for withdrawal?

Fees are charged on wire transfer.

 

Is there bonus offers that are available at FXCM?

Indeed, FXCM offers bonuses to its traders.

Summary
Properties Values
Name
FXCM
Minimum Diposit
$ 50
Leverage
1:200 or 1:30
Regulation
ASIC (Australia),CySEC (Cyprus),FCA (United Kingdom),,,
Headquarters
United Kingdom
Established
1999
Address
20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom
Platform
MT4,Myfxbook,,,
Payment Method
Visa,Mastercard,Wire,Skrill,Neteller,,,
Overview
Properties Values
Spreads
1.3 pips
Min Position size
0.01
Broker Type
MM ( Market Maker),NDD (Non Dealing Desk),Instant Execution,Market Execution,,,
Account Type
Mini account,High Leverage,Standard,,,
Brokers by Country
Australian Forex Brokers,UK Forex Brokers,,,
Techniques
Scalping Forex Brokers,Hedging Forex Brokers,Automated Trading Brokers,Mobile Trading Brokers,,,
Instruments
Forex Trading Brokers,Gold Trading Brokers,CFD Trading Brokers,Crypto Trading Brokers,Stock Trading Broke,Oil Trading Brokers,Commodity Forex Brokers,Metal Trading Brokers,Indexes Trading Brokers,,,
Account currency
USD,EUR,GBP,AUD,CSK,XAU,,USD,,USD,
Tools
Economic Calendar,Charting Software,Pip Calculator,Profit Calculator,,,
Website Languages
en,,,
Support languages
en,,,
Bonus
Yes
Reviews Rating
3.5
Withdrawal Fee
No
Trading Signals
Yes
Free Education
Yes
Daily News
Yes
Demo account
Yes
Swapsr
Yes
Pors
1. No charges for deposition or withdrawal of funds
2. Low Forex taxes
3. Coupons are now available
Cors
1. Inactivity is charged with a fee.
2. It will be shut when the account is inactive for 12 months
Display Analysis
Yes
Serving country
AU,CA,CY,FR,GR,IL,IT,ZA,,,
Not Serving country
AF,AS,AW,AU,BY,BI,CA,CF,CG,CU,GU,HK,IR,JP,KP,KR,LR,MH,MS,NZ,PR,RU,VC,SG,SO,SD,SY,TR,UA,US,,,
Contests
Yes
Market analysis
Yes
Copy Trading Brokers
No
Bitcoin Forex Brokers
Yes
Social trading
Yes
Web trading
Yes
Forex pairs
No
CFDs
Yes
Crypto
Yes
Hedging
Yes
PAMM
Zulu trade,Myfxbook Auto trade,Mql5 signals,,,
Mobile Trading
No
Scalping
Yes
Automated Trading
Yes
Partnership Programs
Yes
Free Phone
+44 20 7398 4050
Customer Support
24/5
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