FXCM Rated 3/5

FXCM Guide - Read our In Depth 2022 FXCM Review

This FXCM review was written by industry experts with over 20 years of financial experience in Forex, Social Trading.
The content in this FXCM review does not apply to US users.

Benefits of Trading with FXCM

FXCM Review 2022 Quick Summary
๐Ÿ’ฐ Min Deposit 1
๐Ÿ‘ฑโ€โ™‚๏ธ Used By 10,000 FXCM users and traders
๐Ÿ“† Founded 1999
๐ŸŒ HQ United States
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation Financial Conduct Authority (FCA)
๐Ÿšซ Excluded Countries FXCM is not available in the following countries : US, AF, DZ, AS, AO, AU, BE, BA, BR, KH, CA, CN, CU, KR, GU, GY, HK, ID, IR, IQ, IL, JP, LA, MO, MY, MM, NZ, MP, PA, PG, PH, PR, RU, SG, KR, SD, SY, TW, TH, TR, UG, VI, VU, VN, YE

Open FXCM's Website

Losses can exceed deposits

learn more Learn more about eToro.
67% of retail investor accounts lose money when trading CFDs with this provider.

What is FXCM?

FXCM are a global online financial trading platform and multi asset broker founded in 1999

Over 23 years later FXCM has grown to offering retail investors Forex trading, and Social trading.

FXCM are a global broker. FXCM have a head office in United States.

FXCM have a listed stock symbol. This means that FXCM have publically listed and you can officially buy/sell shares in FXCM on one of the worlds global stock market exchanges.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this FXCM review and assess how well the FXCM platform functions in its role as an international multiple financial asset trading platform for traders in 2022.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like FXCM can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of FXCM we breakdown the pros and cons. What FXCM are able to offer, what countries FXCM are available in. Who FXCM are regulated by and more.

FXCM Review Screenshot

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this FXCM review useful.

This review of the FXCM platform is very detailed. If you are interested in trading with FXCM in any capacity please take the time to read and research the whole FXCM review.

We have tried to explain the ins and outs of financial trading through the FXCM platform as plainly as possible so that you the trader are as informed as possible before you start to use the FXCM trading tools and depositing and withdrawing funds from FXCM.

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with FXCM like Forex trading, and Social trading. You should have confidence in FXCM and know that the management of your financial investments on the FXCM platform are in good hands.

At the bottom of this FXCM review you can also learn about some pretty good alternatives to FXCM

With this FXCM review we hope to help you see if FXCM is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding FXCM that will help you get off to a good start in the world of online trading.

FXCM Review Table of Contents

FXCM review
FXCM is a Multi-Assets Trading Platform with over 100+ Assets

Learn more about FXCM. FXCM is a multi asset platform with 100+ tradable Assets. Assets available on FXCM include Forex, Social Trading.

FXCM trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex, Social Trading are considered financial assets.

Features of FXCM

FXCM review
What you should know

FXCM offer two ways to trade: Forex, Social Trading.

With FXCM you will need a minimum deposit of $1. You can sign up for a demo account to acquaint yourself with FXCM platform.

FXCM are able to accommodate various levels of traders whether you are experienced or a beginner.

Are FXCM safe?

When choosing a broker like FXCM the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 1999, and in operation for 23 years FXCM have a head office in United States.

FXCM is regulated. This means FXCM are supervised by and is checked for conduct by the Financial Conduct Authority (FCA) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to FXCM, this will be honored. If FXCM violate any regulatory rules their regulated status could be stripped.

Losses can exceed deposits

Is my money safe with FXCM?

Any payments funded to FXCM accounts by traders are held in a segregated bank account.

For added security FXCM use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should FXCM use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in FXCM deposited in a Tier 1 bank?

Having any money you deposit with FXCM means that your funds are kept in a bank that has enough capital to accommodate your withdrawal wishes even if FXCM goes out of business for some reason.

Therefore, we can safely conclude that FXCM is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex, Social Trading is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. FXCM also clearly state on their platform that Losses can exceed deposits.

Now that we have answered some important questions regarding FXCM. let us look at the FXCM features in more detail.

Try creating two accounts when you are working with FXCM. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit FXCM

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How FXCM as a Company Compare Against Other Brokers

Broker FXCM eToro IC Markets AvaTrade
Year Established 1999 2007 2007 2006
Head Office United States Cyprus, UK Australia Ireland
Regulation Financial Conduct Authority (FCA) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049)
Used By 10,000+ FXCM users 20,000,000+ eToro users 180,000+ IC Markets users 300,000+ AvaTrade users
Negative balance protection No Yes Yes No
Guaranteed Stop Loss No No No No
Learn More Visit FXCM Visit eToro Visit IC Markets Visit AvaTrade
Risk Warning Losses can exceed deposits 67% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 71% of retail investor accounts lose money when trading CFDs with this provider

FXCM review
FXCM Pros and Cons

What we like about FXCM

  • Used by over 10,000 FXCM users and traders
  • Established in 1999
  • Regulated by Financial Conduct Authority (FCA)
  • Min. deposit from $1

What we don't like about FXCM

FXCM review
FXCM Regulation and Licensing in more detail

We have checked and FXCM is regulated and supervised by reputable organisations. You are able to check every FXCM supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with FXCM. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria for license approval, this is determined by the recognized international authority with the intention to provide trading and stay licensed. The whole notion of regulation is to protect FXCM traders and provide a trading environment. Financial regulation and license approval is essential.

FXCM is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as FXCM you should be sure they're legitimate online agent.

Is FXCM Global?

Yes, FXCM is global as FXCM is available in over 194 countries.

FXCM is a global trading platform in the sense that it operates in 194 countries including nations in Europe, Asia, Oceania, and Africa. Major countries FXCM covers include the UK, Germany, Australia, South Africa, Thailand the United States and China. FXCM has a total of more than 10,000 users.

FXCM review
FXCM Fees Explained

  • FXCM withdrawal fees varies on payment method
  • FXCM does not charge a fee for inactive accounts.
  • FXCM doesn't charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How FXCM Fees Compare Against Other Brokers

Broker FXCM eToro IC Markets AvaTrade
Min Deposit 1 10 200 100
Withdrawal Fees Varies Yes No No
Inactivity Fees No Yes No No
Deposit Fees No No Varies No
CFD Commission Fees 0.08% per share charge per side Yes Yes No

FXCM Minimum Deposit

FXCM require a minimum desposit of 1 GBP/USD/EUR when opening an FXCM trading account.

A minimum deposit is the minimum amount of money required by FXCM to open a new online brokerage account with them.

Dont be scared off by brokers like FXCM charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on their platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

FXCM Withdrawal Fees

FXCM withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your receiving currency and your payment provider.

FXCM for example allow you to withdraw your funds to Bank Transfer, Cheque or Check, Debit cards, Payoneer.

FXCM Inactivity Fees

FXCM does not charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account does not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

FXCM Desposit Fees

FXCM does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

FXCM Commission Fees

FXCM does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

FXCM review
What can you trade with FXCM?

Be aware that different entities under the FXCM Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client. Additionally, the trading instruments offered by FXCM may vary depending on the trading platform you choose to trade with.

You can trade a wide variety of instruments with FXCM over 100 instruments infact.

If you are looking for Forex brokers to trade currency pairs on global Forex markets FXCM offer over 50 currency pairs.

Compare FXCM with eToro and IC Markets below.

Losses can exceed deposits

How FXCM Trading Options Compare Against Other Brokers

Broker FXCM eToro IC Markets AvaTrade
Instruments Available 100 2000 232 1250
Platforms MT4, Mirror Trader, Web Trader, NinjaTrader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5
FX / Currencies        
Forex pairs offered 50 50 65 55
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies (availability subject to regulation) No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 31 19 17
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 0 2042 110 1000
UK Shares No Yes Yes Yes
US Shares No Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares No Yes Yes Yes
Risk Warning Visit FXCM
Losses can exceed deposits
Visit eToro
67% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit AvaTrade
71% of retail investor accounts lose money when trading CFDs with this provider

FXCM review
Trading on FXCM web platforms and other applications

FXCM offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

FXCM also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See FXCM's platforms

Is the FXCM Trading Platform Secure?

FXCM safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. FXCM also urges its clients through its web platform to always look for the SSL security sign (a lock sign) on the browser while operating FXCM.

FXCM Trading Platform Options

Once you have logged into your FXCM account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)

FXCM does not offer the MetaTrader 5 (MT5) trading platform. If you are looking for a online platform that does support MT5 click here

FXCM does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets explore each of these trading platforms in detail and what options FXCM gives you.

FXCM review
FXCM MetaTrader 4 (MT4)

FXCM MetaTrader 4

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with FXCM. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with FXCM in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. FXCM MetaTrader 4 is compatible with the latest macOS Mojave. FXCM allows traders to trade on mobile devices through Android and iOS devices like the iPhone.

Metatrader 4 Webtrader on FXCM

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade FXCM MetaTrader 4 on iOS Devices

You can download the FXCM app or also trade with FXCM through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. FXCM customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade FXCM MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. FXCM provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android FXCM MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade FXCM MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

FXCM MetaTrader 4 Advanced Trading Tools

The FXCM advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. FXCM offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade FXCM MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

FXCM MetaTrader 4 AutoChartist

FXCM Autochartist provides the world's first Market Scanner available for MT4 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

FXCM Trading benefits

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

FXCM Trading Accounts Offered

Below we give an overview on the account types that FXCM offer. Whatever you are looking to trade the varying FXCM account types will be able to provide you with what you need.

  • Mini account
  • Standard account
  • STP account
  • Islamic account

Can I try FXCM?

FXCM offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Losses can exceed deposits

FXCM withdrawal and funding methods

Please note that the list of FXCM payment methods below depend on the FXCM Entity and the Clients Country of Residence.

All available FXCM payment methods available to you can be found in your FXCM members area checked on the FXCM website.

FXCM offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about FXCM

FXCM Payment Methods

  • FXCM accepts Bank Transfer
  • FXCM accepts Cheque or Check
  • FXCM accepts Debit cards
  • FXCM accepts Payoneer
Broker FXCM eToro IC Markets AvaTrade
Bank transfer Yes Yes Yes Yes
Credit Cards No Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer Yes Yes No Yes
Neteller No Yes Yes Yes

*please note available FXCM and other broker payment methods depend on the clients country of residence.

How can I start trading with FXCM?

When opening a trading account with FXCM, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on FXCM trading platforms here. You will need to provide some basic documentation to prove your identity as part of FXCM onboarding and normal KYC identity checks. These checks are standard practice and help FXCM provide a safe financial environment for their 10,000 users.

Losses can exceed deposits

Performing trades with FXCM

With FXCM, the minimum and maximum trade requirements vary depending on the trader and the instrument. As FXCM offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

FXCM are one of very few brokers that claim to have no requotes, so you don't have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the instruments.

Limit Risk When Trading with FXCM Stop Loss, FXCM Stop Limit Orders

A stop-loss order is an order placed with a broker like FXCM to buy/sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education Resources at FXCM

To trade effectively with FXCM, it's important to get a have a good understanding of the FXCM trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with FXCM and externally.

FXCM offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy/sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with FXCM.

Take time to look around the FXCM platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at FXCM

As part of our FXCM review we review customer service options, response times and FXCM trading platform problem resolution effectiveness.FXCM support a wide range of languages including English, Italian, Spanish, German, Russian, French, Portuguese, Hebrew, Arabic, Chinese, Japanese, and Urdu.

FXCM have a triple AAA grade support and customer service rating because they offer a wide range of languages, live chat, email and phone support.

FXCM customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues.

Your customer service experience with FXCM has to be a positive one for you to effectively trade the financial markets on the FXCM platform. FXCM should make sure all of your questions are answered and your FXCM platform issues solved. When a FXCM customer has any queries regarding FXCM the FXCM customer support team should take these issues seriously and offer a quick and effective solution. FXCM have a great client support team, which is why we have rated their customer service highly.

Livechat Support at FXCM

We tested the FXCM live chat and it works well. We sent messages to FXCM livechat through their app and website and recieved a response within 3 minutes. Its important you test the FXCM chat service yourself. a responsive chat service from FXCM gives a great support experience to FXCM chat service users. Its much better than waiting days for an email.

We tested communicating with FXCM support in multiple languages in multiple countries. The FXCM help center where able to quickly resolve our customer issues.

Email Support at FXCM

We sent several emails to FXCM and answer times overall were excellent. The fastest response from FXCM was less than 2 minutes and the slowest response was 3 hours. Support response times may vary for you with FXCM, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from FXCM.

Phone Support at FXCM

We called FXCM and the call was answered very quickly. The call was answered in less than 1 minutes.

The FXCM phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual FXCM team by calling in varying languages. FXCM made an effort to make sure our queries were answered.

Overall great phone support from FXCM.

See how FXCM Support Compares Against Other Brokers

Broker FXCM eToro IC Markets AvaTrade
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Italian, Spanish, German, Russian, French, Portuguese, Hebrew, Arabic, Chinese, Japanese, and Urdu English, German, Spanish, French, Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more Arabic, Simplified Chinese, Traditional Chinese, Dutch, English, Finnish, French, German, Hungarian, Italian, Indonesian, Japanese, Mongolian, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Malay, Korean and Turkish
Learn More Visit FXCM Visit eToro Visit IC Markets Visit AvaTrade
Risk Warning Losses can exceed deposits 67% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 71% of retail investor accounts lose money when trading CFDs with this provider

What you will need to open an account with FXCM

As FXCM is regulated by Financial Conduct Authority (FCA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware that the expiration date of Proof of address document for different entities under FXCM Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 5 minutes or so to complete the account opening process.

While you might be able to explore FXCM's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with FXCM you can visit the FXCM trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.fxcm.com/ on January 19, 2022.

Is FXCM A Good Broker?

We spent over 3 months examining FXCM in depth. Although we found some very useful aspects of the FXCM platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative FXCM broker.

  • FXCM have a good track record of offering Forex, Social Trading.
  • FXCM has a history of over 23 years.
  • FXCM has a reasonable sized customer support of at least 10.
  • FXCM are regulated by the Financial Conduct Authority (FCA). This means FXCM fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • FXCM have regulation from reputable regulators.
  • FXCM has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • FXCM have an international presence in multiple countries. This includes local FXCM seminars and training.
  • FXCM are able to hire people from various locations in the world who can better communicate in your local language.

FXCM Risk Disclosure

Losses can exceed deposits

Trading Risk Disclaimer

Trading financial instruments including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

FXCM not quite right?

If after reading this FXCM review, FXCM does not fulfill your needs check out these FXCM Alternatives.

Click here to view the best FXCM Alternatives

We have spent years researching the best alternatives to FXCM. Click the links below to learn more.

If you feel some of the above FXCM are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of FXCM alternatives below.

Related FXCM Vs Comparisons

We have covered allot in this FXCM review, If you want to see how FXCM compares side by side with other brokers check out our FXCM Vs pages.

If you would like to see how FXCM stands up against other brokers you can read some of our FXCM comparisons below. We compare side by side some of our top rated FXCM versus comparisons. Read our indepth FXCM VS pages below.

FXCM review
FXCM Frequently Asked Questions

Read our detailed FXCM FAQ Section updated for 2022.

Can I try FXCM?

FXCM do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do FXCM accept?

Please note that the list of payment methods below depend on the FXCM Entity and the Clients Country of Residence.

FXCM offer the following funding payment methods Bank Transfer, Cheque or Check, Debit cards, Payoneer, among other payment methods.
Learn more here

Losses can exceed deposits

Is FXCM safe?

FXCM are considered safe as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA). Any payments funded to FXCM accounts by traders are held in a segregated bank account. For added security FXCM use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Losses can exceed deposits

Is FXCM trading good?

FXCM is considered good and reputable to trade with FXCM. FXCM is used by over 10,000 traders and FXCM users. FXCM offers Forex trading, and Social trading. Minimum deposit with FXCM is 1.

Is FXCM trading Legit?

FXCM was founded in United States in 1999. FXCM has been facilitating trade on the financial markets for over 23 years. FXCM offers clients Forex trading, and Social trading. All funds deposited to FXCM are held in segregated bank accounts for security. FXCM is regulated by Financial Conduct Authority (FCA) so can be considered legit.

Is FXCM a good broker?

FXCM is overseen by the top tier financial regulators Financial Conduct Authority (FCA) so can be considered a good broker. FXCM allows Forex trading, and Social trading.

Is FXCM trustworthy broker?

FXCM can be considered trustworthy. All money funded to FXCM is placed into a segregated bank account. this means your money in not held by FXCM directly. The broker has no direct access to your funds so cannot misappropriate your money. Also FXCM is regulated by Financial Conduct Authority (FCA).

What is the minimum deposit for FXCM?

The minimum deposit to trade with FXCM is 1.

How long do FXCM withdrawals take?

Withdrawing money from FXCM processing time varies depending on the method but averages 2-5 days.

Is FXCM regulated?

FXCM is regulated by the Financial Conduct Authority (FCA). Regulatory bodies conduct regular reviews and audits as part of FXCM maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is FXCM a market maker?

FXCM is a market maker. Stocks, currency and other commodities and instruments will be purchased by FXCM even if no buyer is lined up.

How can I start trading with FXCM?

When opening a trading account with FXCM, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on FXCM trading platforms here.

Is my money safe with FXCM?

FXCM is regulated by the Financial Conduct Authority (FCA). One of the most important criteria for traders when choosing a broker like FXCM is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to FXCM, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is FXCM a con?

FXCM is regulated and well established having been in business for over 23 years. FXCM is definitely not a con.

Can you make money with FXCM?

Although traders have had great success with FXCM. Trading on the financial markets with FXCM is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does FXCM have fees?

FXCM withdrawal fees varies on payment method.FXCM doesn't charge inactivity fees. FXCM doesn't charge deposit fees.

When was FXCM founded?

FXCM was founded in 1999.

How many people use FXCM?

FXCM is used by over 10,000 registered FXCM users.

What is FXCM Headquarters country?

FXCM has its head quarters office in United States .

Does FXCM offer negative balance protection?

FXCM does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does FXCM offer guaranteed stop loss?

FXCM does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does FXCM allow scalping?

FXCM offers scalping.

Does FXCM allow hedging?

FXCM offers hedging.

Does FXCM offer CFD trading?

FXCM does not offer CFD trading.

Does FXCM offer STP?

FXCM offers STP trading.

How many people use FXCM?

FXCM is used by over 10000 FXCM users and traders.

Is FXCM an ECN broker?

FXCM does not offer ECN trading.

Does FXCM offer a demo account?

FXCM does not offer demo account.

Does FXCM offer an Islamic account?

FXCM offers an Islamic account.

What are the funding methods for FXCM?

Please note that funding methods and funding options available with FXCM can be found in the FXCM Members area and depend on the FXCM clientโ€™s country of residence. Please check your specific available payment methods on the FXCM website. FXCM accept the following funding methods : Bank Transfer, Cheque or Check, Debit cards, Payoneer.

FXCM review written by Andrew Blumer and Mark Hansen

We hope you found our review of the FXCM brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

FXCM review written by Mark Hansen of Comparebrokers.co