FXCM is a global forex and CFD broker with headquarters in London, UK. It’s regulated by the Financial Conduct Authority (FCA) and many other strict regulatory authorities around the world including Australia (ASIC) and South Africa (FSCA).
FXCM offers low trading costs overall with no withdrawal, deposit or credit card fees. However, there is a $50 fee for accounts that have been inactive for a year or more.
Customer service
FXCM offers a number of helpful customer support services, including a comprehensive FAQ page and multiple ways to contact their staff. You can use a toll-free number, chat live online or send an email.
FXCM’s customer service is quite fast and efficient, with a representative usually available to answer your query within a minute. Their web chat software is a cinch to use, and the mobile app allows you to get an answer in a snap.
Trading platform
FXCM is a regulated forex broker that offers a wide range of trading platforms and tools. It also provides a comprehensive suite of education materials and training courses to help you develop your trading skills.
In terms of execution methods, FXCM offers At Market and Limit orders. Choosing an order type based on your risk appetite can help you avoid slippage.
Minimum deposit
FXCM requires a minimum deposit for its forex and CFD trading services. This varies depending on the type of account.
Traders can deposit and withdraw funds via credit or debit cards, Neteller, Skrill, Union Pay, and bank wire. Withdrawals are usually processed within 2 business days, though some payment providers may take longer.
Founded in 1999, FXCM is an FCA-regulated broker that falls under the Leucadia Group umbrella. Its strong international regulation, segregated client funds, and history of responsible behavior make it a safe option for traders.
Spreads
FXCM offers low spreads on the EUR/USD and a few other major pairs. The broker also has a few more exotic trading instruments, such as indices and commodities.
The company also offers some cool tools to make the process of trading easier, such as a streamlined account opening process and an array of educational content. The company’s multi-platform platforms also have some great features for algorithmic trading. However, the company does not offer some popular investment types like stocks and ETFs.
Leverage
The leverage offered by fxcm ratings is ideal for committed traders who are looking for greater trading flexibility and profit potential. The broker offers leverage up to 1:400 on retail Forex accounts, which can be useful for traders who want to capitalize on small market moves.
FXCM also provides a range of educational content to support new and experienced traders. This includes daily market news and analysis, a YouTube channel, a live online classroom, and SMS trade alerts.
Trading conditions
FXCM has a long history of providing forex traders with quality trading conditions. The company offers a wide range of platforms, a low minimum deposit, and a suite of professional education tools for free.
The UK-based broker is regulated by the FCA and other strict financial regulators worldwide, including in Australia (ASIC) and South Africa (FSCA).
FXCM is an excellent choice for a retail trader who is looking for reliable trading conditions. However, its fixed leverage and high trading costs may turn off some traders.
