broker

FXCM Review 2022

Updated:
4.6
Trust
4.7
Fees
4.0
Platforms and Tools
4.9
Customer Support
4.7
Tradable Instruments
4.6
Account Types and Terms
4.9
Deposit and Withdrawal
4.9
Research
5.0
Education
5.0
While we adhere to strict editorial integrity, this page may refer to our partners' products. Here's how we make money.Learn how we make money and our review methodology.

Please Note: We performed our tests using a live standard account, using the Trading Station platform, opened with the Forex Capital Markets Limited entity of FXCM (fxcm.com/uk/).

The Big Picture

One of the best known names in the forex industry, FXCM offers an impressive range of technology, tools and research. Our review is based on a live standard account, using the Trading Station platform, opened with the Forex Capital Markets Limited entity of FXCM (fxcm.com/uk/).

With a history of over 20 years, FXCM has been a pioneer in bringing online currency trading into the mainstream. In its early days, the company introduced innovations such as automated trading and flexible position sizing. Over the past decade FXCM faced a number of challenges, notably when the Swiss National Bank (SNB) unexpectedly raised the peg on EUR/CHF in 2015, resulting in a major loss for the company. FXCM has bounced back and is currently owned by Jefferies Financial Group, a financial services giant with assets of over $87 billion.

FXCM Key Takeaways for 2021

  • We evaluated FXCM across 9 categories (Trust/Stability, Fees, Tradable Instruments, Account Types, Deposit/Withdrawal, Research, Customer Support, Education, Platform/Tools). They excelled in the areas of research, education and platform/tools.
  • FXCM is regulated by several top tier financial authorities across the globe and has the benefit of being owned by a multi-billion dollar financial services company.
  • Commissions and fees for standard accounts are average for the industry.
  • FXCM can cater to sophisticated traders with a broad range of advanced tools.
  • Research and educational materials are excellent making FXCM a strong choice for beginners.

What Sets FXCM Apart from Other Brokers?

FXCM shines with its broad range of trading platforms and tools for advanced traders and strategy developers. As an innovator in the world of retail forex trading with over 20 years of experience, this broker also has an industry leading range of research and educational resources.

Who is FXCM for?

With strong educational and research resources, FXCM could be a suitable broker for beginner traders. On the other end of the spectrum, FXCM can cater well to advanced and professional traders who want the tools to backtest and automate their trading strategies. Spreads in the standard account are average, but more competitive spreads are available via the Active Trader account.

FXCM Pros and Cons

Pros Cons
  • Excellent research and educational materials.
  • Reliable customer support.
  • Strong algorithmic trading resources.
  • Wide range of available platforms and tools.
  • Unique instruments to trade, for example their trading baskets
  • Range of trading instruments lacks depth.
  • Spreads for the standard account are not among the most competitive available.
  • High inactivity fee ($50).
  • 2-Step login for trading platforms unavailable.

 

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70% of retail investor accounts lose money

 

About the Author

Jitan Solanki
After discovering techniques to trade pan-European and US equities, Jitan developed a love for a short to medium term trading on indices and commodities, and later on currencies.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
FXCM Main Features
☑️
Regulations
FCA (United Kingdom), ASIC (Australia), FSP (New Zealand)
🗺
Supported Languages
English, Spanish, German, French, Arabic, Chinese, Italian, Greek
💰
Products (CFD)
Currencies, Commodities, Indices, Stocks, Crypto
💵
Min Deposit
$300
💹
Max Leverage
1:30 (FCA), 1:30 (ASIC)
🖥
Trading Desk Type
Dealing Desk, Market Maker
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unknownFXCM accepts clients from your country:
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70% of retail investor accounts lose money

FXCM Full Review

Trust

4.7
How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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FXCM is regulated by several top tier agencies across the world. One of the oldest forex brokers, FXCM dates back to 1999 and is currently owned by Jeffries, a publicly traded company.

FXCM on the FCA Financial Services Register

In our trust category, we place most importance on how a broker is regulated. So let’s dive in and take a look at how the different entities of FXCM across the globe are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.

The various entities of FXCM are regulated as follows:

  • Forex Capital Markets Limited is regulated by The Financial Conduct Authority (FCA) of the United Kingdom, Registration Number 217689. (We rate FCA as a Tier 1 regulator.)
  • FXCM Australia Pty. Limited is regulated by The Australian Securities and Investments Commission (ASIC). Australian Financial Services License Number: 309763. (We rate ASIC as a Tier 1 regulator.)
  • FXCM EU Limited is regulated by The Cyprus Securities and Exchange Commission (CySEC). License number 392/20. (We rate CySEC as a Tier 1 regulator)
  • FXCM South Africa Pty. Limited is regulated by The Financial Sector Conduct Authority (FSCA) of South Africa. FSP number 46534. (We rate FSCA as a Tier 2 regulator.)

Why is It Important to Know Where Your Broker Subsidiary (Entity) is Regulated?

Different regulators provide different levels of protection. For example, FXCM clients in the United Kingdom benefit from the oversight of the FCA. The FCA requires that clients have negative balance protection, which means that they cannot lose more than their deposit. Client funds must be held in segregated accounts, which are protected in the event of a broker going bankrupt.

In addition, when trading with a broker authorised by the FCA, client funds are also protected by the Financial Services Compensation Scheme (FSCS). The FSCS protects investments of up to £85,000 if a firm becomes insolvent.

In the table below we break down the protections and benefits by entity.

Entity Forex Capital Markets Limited FXCM EU Limited FXCM Australia Pty. Limited FXCM South Africa Pty. Limited
Country/Region United Kingdom Europe Australia South Africa
Regulation FCA CySEC ASIC FSCA
Segregated Funds Yes Yes Yes Yes
Negative Balance Protection Yes Yes Yes No
Compensation Scheme FSCS Up to £85,000 ICF Up to €20,000 No No
Standard Leverage 1:30 1:30 1:30 1:400

We checked the regulatory status of FXCM in November of 2021.

Stability and Transparency

In our tests for the Trust category we also cover factors relating to stability and transparency. Here, we focused on how long the broker has been in business, the size of the company and how transparent they are in terms of information being readily available.

Founded in 1999, FXCM is a pioneer in the world of retail forex trading. However, the broker has faced a number of challenges over the past decade, notably when the Swiss National Bank (SNB) lifted the peg on EUR/CHF in 2015, causing a loss of $225 million.

FXCM has bounced back and it’s parent company, Jefferies Financial Group Inc., is publicly traded (NYSE: JEF) with a market cap of $9.23B at the time of this writing (December 2021). FXCM does not have a bank parent.

In our research, FXCM showed a good level of transparency in areas such as their regulatory status, fees and background information. Information and materials are available on the website. The regulatory status of different entities is covered in detail on their Regulation page. A rate card on their Charges and Fees page clearly outlines all costs. A Terms of Service document is also available online, via the General Business Terms page, although it was a little hard to find.

In summary, we rated FXCM as having an above average level of trust and stability due to the following factors:

  • Regulated by multiple top tier agencies.
  • Lengthy operating history.
  • Ownership by a multi-billion dollar, publicly traded company.
  • Good level of transparency.

Fees

4.0
How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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FXCM’s fees were average in our tests, but more competitive pricing is available via the Active Trader account.

FXCM offers 2 account types: Standard and Active Trader. We tested the standard account in this review. In the Standard Account, fees are mainly reflected in the spread. The spread is the difference between the bid (sell) price and the ask (buy) price. Narrower spreads allow you to enter and exit the market at a lower cost, which is especially important for active traders.

Trading Fees

Spreads at FXCM are variable, meaning that they fluctuate slightly. The size of the spread depends on the level of liquidity in the market. Liquidity describes the extent to which an instrument can be bought and sold quickly and without moving the market. Tighter spreads are typically seen when there is greater liquidity in the market.

We tested the spreads across different asset classes in a live standard account. Spreads were measured using the Trading Station web platform. The tests were done at 8AM GMT and at 3PM GMT on November 12th 2021. We made our tests at two different times to allow greater perspective. 8AM GMT is the London open, when there is a great deal of liquidity in the forex market and therefore tighter spreads in currency pairs. 3PM GMT is a quieter time, shortly before the opening of the New York stock exchange.

Instrument Live Spread AM Live Spread PM
EUR/USD 1.3 1.1
GBP/JPY 2.4 2.4
Gold (XAU/USD) 0.4 0.4
WTI Oil (XTIUSD) 0.07 0.04
Apple (AAPL) n/a * 0.13
Tesla (TSLA) n/a * 1.99
Dow Jones 30 (US30) 3.6 4
Dax 30 (DE30) 1.3 1.3

*US shares are open from 14:30 to 21:00

We judged that standard account spreads are about average in forex, commodities and indices and a little better than average in popular stocks. Tighter spreads are available with the Active Trader account.

Swap fees (the cost of holding a position overnight) are competitive at FXCM. In the table below you can see the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of holding a sell position overnight) for one full sized contract. A full sized contract is 100,000 units of the base currency (the first currency quoted in the pair).

We recorded the data on November 29th 2021.

Instrument Swap Long Swap Short
EUR/USD Charge of $3.00 Credit of $1.00
GBP/JPY Charge of $0 Charge of $1.00

Non-Trading Fees

Unlike many brokers, FXCM does not charge for deposits and withdrawals. FXCM charges clients an inactivity fee of up to 50 units of the account denominated currency for accounts that have been inactive for 12 consecutive months. This fee is slightly higher than average for the industry.

Are Fees at FXCM Competitive?

Overall, we judged the fees for the standard account at FXCM to be average and in some cases better than average for the industry.

Platform and Tools

4.9
How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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FXCM shines in the area of its platform offerings, with advanced functionality suited to systematic traders. The flagship Trading Station platform is available via both desktop and web and clients can also use a range of 3rd party platforms.

The trading platform is the interface that allows users to enter orders, read charts and analyze the markets. Needless to say this is a crucial part of a traders toolkit. FXCM offers an exceptional range of trading platforms, which include:

  • Trading Station: FXCM’s flagship platform, available for web, desktop and mobile.
  • NinjaTrader: a platform that enables developers to build integrated indicators, drawing tools and automated strategies.
  • MetaTrader 4: a popular platform for trading and analyzing forex and CFDs, which has the capability to automate analytical and trading processes.
  • ZuluTrade: a leading social and copy trading platform.

In our tests, we focused on the proprietary Trading Station platform for web, desktop and mobile.

Web

Trading Station Web Platform

Trading Station web is well designed, customizable and relatively easy to navigate. Popular features such as watchlists, alerts, 1-click trading and trading from the chart are all available.

FXCM’s news feed and economic calendar are built into the platform. A customised trading analytics feature helps you better understand and improve your performance. Security could be improved however, as the platform lacks 2-step authentication.

Trading Station Web has a better than average range of available order types, which include:

  • Market Orders.
  • Limit Orders.
  • Stop Loss Orders.
  • Trailing Stop Orders.
  • OCO (One cancels the other) Orders.

Time conditions can also be applied to orders, including:

  • Good-til-date (GTD).
  • Good-til-canceled (GTC).
  • Immediate or cancel (IOC).
  • Fill or kill (FOK).

Charting on the platform is robust, with over 50 available technical indicators, conveniently organized by category, for example classic oscillators and volume indicators.

The platform is also available in multiple languages, to cater to FXCMs global client base.

Trading Station Web Platform Languages
English | Japanese | Greek | French | Chinese | German | Spanish | Italian

Desktop

Trading Station Desktop

Trading Station Desktop has all the features of the web platform and goes beyond it with a range of advanced functionality. It exceeds the scope of most proprietary broker platforms in that it offers trade automation and strategy development tools, with backtesting and optimization capabilities.

Advanced indicators are also integrated into the desktop platform, which include:

  • Real Volume: FXCM’s Real Volume indicator is pre-loaded on Trading Station and provides market sentiment insight using FXCM’s large client base. Market sentiment reflects the overall attitude of traders to a financial instrument.
  • Trader Sentiment: The Speculative Sentiment Index (SSI) shows whether traders are net long or short and to what degree. It is typically used as a contrarian indicator.

One drawback of Trading Station is that it allows a maximum of 20 symbols to be subscribed to at one time. In other words, you can only get quotes, pull up a chart or trade from 20 symbols at a time.

Mobile App

FXCM offers mobile trading via their proprietary Trading Station Mobile app. As alternatives, traders can also use the MetaTrader 4 mobile app and the ZuluTrade mobile app for copy trading.

Trading Station Mobile is available for both iOS and Android. The app can be used in English, Spanish, Italian, and French.

Trading Station Mobile App: Rates, Order Entry and Research Panels

Trading Station Mobile is well designed and easy to navigate. It provides an above average range of order types, including market orders, limit orders, stop loss orders, trailing stop orders. Time in force conditions such as GTC (Good ‘Til Canceled), IOC (Immediate-Or-Cancel) and FOK (Fill Or Kill) are also available.

Charts are well designed and offer robust functionality, with 59 technical indicators and a broad range of drawing tools, chart types and time frames.

Price alerts are available via the Trading Station app, allowing users to easily stay on top of key moves in the market. Security features could be better, as Trading Station Mobile does not offer 2-step authentication or biometric login.

Order Execution

FXCM is always the counterparty to client trades. FXCM either executes trades internally or offsets them externally to a liquidity provider. Liquidity providers are often banks and large financial institutions. Prices come directly from a number of different liquidity providers and the FXCM matching algorithm displays the best bid and offer prices available at any given time.

Tradable Instruments

4.6
How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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FXCM offers a broad range of trading instruments, including forex and CFDs on stocks, stock indices, commodities and cryptocurrencies.

CFDs (Contract for Differences) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. Tradable instruments at FXCM include the following:

  • 42 Currency Pairs. A currency pair combines two different currencies, with the value of one currency quoted against the other. For example EUR/USD, which reflects the value of the euro measured in dollars.
  • 12 Commodities. Commodities are raw products, such as gold and oil.
  • 191 Global Stock CFDs. FXCM offers trading in stock CFDs from exchanges ranging from the NASDAQ to the Hong Kong stock exchange. A stock is a security that represents partial ownership of a corporation. Keep in mind that when trading stock CFDs you are speculating on the price of a stock without actually taking ownership of the underlying asset.
  • 16 Indices. Available instruments at FXCM range from Japanese to UK stock indices. An index is a basket of trading instruments that is used to gauge a market sector, stocks within an exchange or the economy of a country.
  • 7 Cryptocurrencies. Cryptocurrencies, such as Bitcoin, are digital currencies that are secured by cryptography.

While a broad range of markets are available, some instruments such as bonds, exchange traded funds (ETFs) and options are not available. Below is a sampling of instruments across the various asset classes.

Forex CFDs Share CFDs
GBP/JPY | AUD/CAD | EUR/HUF GameStop | Tesla | Pfizer
Commodity CFDs Cryptocurrency CFDs
Natural Gas | WTI Crude Oil | Copper Bitcoin | Ethereum | Litecoin
Indices
NAS100 | GER30 | JPN225

FXCM also offers Trading Baskets, which are available for both forex and stocks.

Forex Baskets allow traders to speculate on volatile instruments, while lowering the risk of exposure to a single currency. Baskets include:

  • The US Dollar Index
  • The Yen Index
  • Emerging Markets Index

Stock Baskets allow traders to speculate on the performance of a certain sector without having to buy each stock individually. Here are some examples of available Stock Baskets:

  • FAANG
  • Biotech
  • US Banks

Note: Cryptocurrency CFD trading is not available for UK clients, because the Financial Conduct Authority (FCA) banned crypto-derivatives trading in early 2021.

Overall, we judged that FXCM has an impressive range of tradable instruments, well above average for the industry.

70% of retail investor accounts lose money

Customer Support

4.7
How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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FXCM provides reliable support to clients via phone, chat and email 24/5.

FXCM Customer Support

FXCM provided strong customer support in our tests, with fast responses to phone, chat and email inquiries. We made multiple inquiries via each medium. Our questions ranged from easy to difficult. We asked questions like ‘does FXCM offer crypto to UK clients?’ and ‘how can I see the rollover fee for my overnight position?’ In most cases our questions were answered well but in some cases we were told to email customer support at info@fxcm.com for further information.

When using the chat feature, our inquiries were responded to in less than a minute. Email inquiries were usually replied to within 24 hours. Calls were answered almost immediately.

In the case of chat, one drawback is that you must fill out a form before reaching an agent.

Deposit and Withdrawal

4.9
How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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FXCM offers a broad range of methods for both deposits and withdrawals. Withdrawal via credit/debit cards are free, but bank transfers can be costly.

FXCM supports a wide range of payment providers making it easy to deposit and withdraw from your brokerage account.

FXCM Deposit Options

There is no deposit fee at FXCM and credit and debit card deposits are often available immediately.

FXCM offers the following deposit and withdrawal options:

  • Debit/Credit Card
  • EFT/Bank Wire
  • Skrill
  • Neteller
  • Klarna
  • RAPID

FXCM does not charge fees for credit card withdrawals, but bank wires can cost as much as $40. However, if you are in the UK and you open a GBP account you can use the BACS withdrawal method free of charge. Usually, withdrawals are processed by FXCM in 1 to 3 business days.

Account Types and Terms

4.9
How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

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The onboarding process at FXCM is smooth and accounts can be opened online within a matter of minutes. FXCM offers 2 major account types: Standard Accounts and Active Trader Accounts.

Opening an account at FXCM UK

In our review we tested the Standard Account. For this account type the minimum deposit is $/€/£300 within the EU, For non-EU countries the minimum is $50.

Active Trader Accounts require a minimum balance of $25,000. Spreads are far more competitive when using an active trader account, as low as 0.2 in EUR/USD and 0.6 in GBP/USD, but a commission is also charged.

FXCM also offers a demo account to help users practice trading without risk and Islamic accounts that adhere to the principles of Sharia law.

Know Your Customer Survey

When opening an account with the Forex Capital Markets Limited entity we had to fill out a brief Know Your Customer (KYC) questionnaire. KYC aims to ensure that brokers understand the clients’ risk tolerance, investment knowledge, and financial position.

Minimum Deposit (Standard Account) $/€/£300 in the EU, $50 outside the EU
Demo Account Available Yes
Islamic Account Available Yes
Professional Account Yes
Corporate Account Yes

Accounts open under FXCM UK can be denominated in three base currencies: GBP, EUR or USD.

Leverage

One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. The maximum leverage available depends on where you are based.

We tested an account with the UK based Forex Capital Markets Limited entity which is regulated by the FCA and the maximum leverage is 1:30. This means that with a $1,000 account you can control up to $30,000 worth of positions in the market. Leverage varies by the asset that you are trading and the breakdown is as follows:

  • 30:1 leverage restriction for major currency pairs
  • 20:1 for non-major currency pairs, gold and major indices
  • 10:1 for commodities other than gold and non-major equity indices
  • 5:1 for individual equities

Leverage is often described as a ‘double-edged sword’ because it can amplify both your profits and losses. Leveraged trading comes with a high level of risk and can often result in significant losses.

FXCM accepts clients from the majority of countries globally. However, the following countries are restricted: Burundi, Central African Republic, Ivory Coast, Liberia, Libya, Sudan, Zaire, Zimbabwe, North Korea, Singapore, South Korea, Belarus, Russian Federation, Ukraine, Cuba, Vanuatu, Iran, Syria, Turkey, Afghanistan and the United States.

70% of retail investor accounts lose money

Research

5.0
How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

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FXCM provides above average research, with materials from both in-house analysts and 3rd party sources.

Market News

FXCM checks all the boxes when it comes to research. Resources range from standard items like the economic calendar to a slew of useful tools for generating trading ideas. Content is updating multiple times daily. Offerings include:

  • Economic Calendar. Allows clients to easily track economic releases and events.
  • Market News. The news feed combines FXCMs proprietary analysis with stories from outside sources such as FXStreet and Investing.com.
  • Market Scanner. Enables users to screen forex and CFDs using technical indicators such as MACD, RSI and the 200 period EMA.
  • FXCM PLUS. Free for live accounts, this provides trading signals and tools such as the Technical Analyzer, which shows important technical levels on charts.
  • FXCM Market Talk. A weekly podcast that explores the key drivers affecting the financial markets.
  • Trading Central. Automated investment analytics and analyst research, built into the Trading Station platform.

Sophisticated traders can also take advantage of four free APIs, each connecting directly to FXCM’s trading server: a REST API, FIX API, Java API, and a ForexConnect API. APIs are often used in the development of custom algorithmic trading systems.

We judged the quality and volume of research materials to be above average for the industry.

Education

5.0
How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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FXCM excels in the area of education. Most CFD brokers have materials that cater to beginners, but FXCM genuinely caters to both novice and advanced traders.

Educational Resources at FXCM

FXCM offers a wide variety of educational resources, which include:

  • A free demo trading account.
  • A downloadable guide to forex for new traders.
  • In depth guides, covering topics such as how to develop a strategy.
  • SMS Trade Alerts to help identify potential trading opportunities.
  • Daily webinars during the week covering market sentiment and highlights for a variety of markets.
  • A rich library of educational articles.

Webinars are archived and cover topics related to trading platforms as well as advanced material such as Best Practices for Creating an Algo Trading System.

In a section labeled ‘insights’ FXCM provides a range of in-depth articles covering themes related to the global economy, trading strategies, technical indicators and a glossary.

As with the research materials, we concluded that the volume and quality of educational materials at FXCM are above average for the industry.

The Bottom Line

In our experience FXCM presents an interesting offering for advanced and algorithmic traders. Pricing levels for the Standard Account are not the most competitive in the industry, but FXCM delivers a well rounded offering with a high trust rating.

FAQ

Where is FXCM based?
FXCM UK is based at 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom.

Is FXCM safe?
Yes, FXCM is regulated by the U.K. Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority (FSCA) of South Africa.

How does FXCM make money?
FXCM makes money mainly through spreads, commissions and swaps on certain asset classes.

How do I deposit funds in an FXCM account?
Funds can be deposited via debit/credit card, ETF/bank wire, Skrill, Neteller, Klarna, and RAPID.

What is the minimum deposit for FXCM?
The minimum deposit is $300 in Europe and $50 in non-EU countries.

How do I withdraw money from FXCM?
Withdrawals can be made using credit/debit card, electronic wallet or bank transfer.

How long does it take to withdraw money from an account at FXCM?
It usually takes FXCM 1-3 days to process withdrawals. For bank wires there may be additional time for the funds to be visible in your account due to the processing time of the bank.

What is the maximum leverage at FXCM?
In the UK the leverage is limited to up to 30:1 as per regulations for standard accounts and up to 400:1 for professional accounts.

How can I open an account with FXCM?
An account can be opened online via the FXCM website in under 10 minutes.

What platforms does FXCM offer?
FXCM offers 4 platforms: Trading Station, MetaTrader 4 (MT4), NinjaTrader and ZuluTrade.

Who owns FXCM?
FXCM is owned by Jefferies Financial Group Inc., an American financial services company based in New York City.

Is FXCM an ECN broker?
No, FXCM is a market maker/dealing desk broker.

What are the withdrawal fees at FXCM?
Withdrawal via credit/debit cards are free, but bank transfers can cost as much as $40.

Does FXCM offer MetaTrader?
Yes, MetaTrader 4 is available to clients.

Is FXCM good for beginners?
With above average educational offerings and solid customer service, we judged that FXCM is a good choice for beginners.

broker

70% of retail investor accounts lose money

See FXCM Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
United Kingdom
Foundation Year
1999
Regulations
FCA (United Kingdom), ASIC (Australia), FSP (New Zealand)
Publicly Traded
No
Number Of Employees
200+
Trading Desk Type
Dealing Desk, Market Maker
Trading platforms
MT4, Trading Station, NinjaTrader, Zulutrade
Restricted Countries
United States, Russian Federation, Belgium, Turkey, Japan, Burkina Faso, Burundi, Colombia, Congo, Cote d'Ivoire, Cuba, Cyprus, Jordan, Kenya, North Korea, South Korea, Kuwait, Guinea-Bissau, Liberia, Mali, Mexico, India, New Zealand, Niger, Iceland, Peru, Qatar, Iran, Greece, Guinea, Afghanistan, Guam, Senegal, Timor-Leste, Cook Islands, Tunisia, Northern Mariana Islands, Somalia, Puerto Rico, Togo, Brazil, Syria, Ukraine, Central African Republic, Saudi Arabia, Lebanon, Vanuatu, Singapore, Virgin Islands, British, Kiribati, Libya, Philippines, South Sudan, Sudan, United Arab Emirates, Egypt, Zimbabwe, Samoa, Bahrain, Belarus, Benin
Supported Languages
English, Spanish, German, French, Arabic, Chinese, Italian, Greek
Min Deposit
$300
Max Leverage
1:30 (FCA), 1:30 (ASIC)
Deposit Options
Wire Transfer, Credit Card, Skrill, Neteller
Withdrawal Options
Wire Transfer, Credit Card, Skrill, Neteller
Products (CFD)
Currencies, Commodities, Indices, Stocks, Crypto
Demo Account
Yes
Islamic Account
Yes
Segregated Account
Yes
Managed Account
No
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IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMERS
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.