FXCM Review for 2019

FXCM Rated 4/5

FXCM Introduction

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

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of FXCM we break down the pros and cons. What FXCM are able to offer, what countries FXCM are available in. Who FXCM are regulated by and more.

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.

Open FXCM's Website

As with any investment your capital is at risk, losses can exceed deposits.

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

With this 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 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 20 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 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.

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.

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

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

What we like

  • Used by over 10,000 traders
  • Established in 1999
  • Regulated by Financial Conduct Authority
  • Min. deposit from $1

What we don't like

FXCM General Fees

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

FXCM Commissions

  • FXCM does charge commission on CFD shares

What can you trade with FXCM?

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

If you are looking at trading currency pairs FXCM offer over 50 currency pairs.

Compare FXCM with Interactive Brokers and XTB below.

FX / Currencies FXCM IB XTB
# of forex pairs offered 50 10 50
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes
Exotic forex pairs Yes Yes
Cryptocurrencies No No Yes
Commodity CFDs FXCM Interactive Brokers XTB
# of commodities offered 0 0
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs FXCM Interactive Brokers XTB
# of Stocks offered 0 1500
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares Yes Yes Yes
Japanese Shares No Yes Yes
FXCM's
Instruments
IB's
Instruments
XTB's
Instruments

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

FXCM Trading benefits :

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

FXCM Trading Accounts offered:

  • Mini account
  • Standard account
  • Islamic account

Can I try FXCM before I buy?

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

What funding methods do FXCM accept?

FXCM offer the below funding payment methods. learn more about FXCM

  • Bank Transfer
  • Payoneer

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.

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.

As a nice bonus, 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 trader, accounts and instruments, but as a guide, FXCM offer margin up to 0.005% on currencies.

Support at FXCM

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 rating because they offer a wide range of languages, live chat, phone and email support.

What you will need to open an account with FXCM

As FXCM is regulated by Financial Conduct Authority, 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:

  • 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 10 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 their website 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 12th August 2018.

FXCM Frequently Asked Questions

Can I try FXCM before I buy?

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?

FXCM offer the below funding payment methods Bank Transfers, Payoneer, among other payment methods. Learn more here

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 Financial Conduct Authority. 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.