It is regulated by the National Futures Association (NFA), the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) and BaFin in Germany. They made the statement “Regulated around the globe” possible, proven by offices providing full operations in the UK, Germany, the US, Australia, Italy, France, Greece and Tokyo, as well as affiliate companies in Israel, Lebanon, Canada and Chile, giving them a near global coverage.
They are primarily focused on the foreign currency market and offer trading in 39 currency pairs as well as CFDs, commodities and gold.
How does it help me learn?
- Demo Account and Account Managers – FXCM offers practicing on demo accounts supported by account managers who will assist clients with the platforms and account opening procedures.
- Free Forex Trading Guide – If new to Forex trading then FXCM‘s Forex training guides are an excellent start to learn the basics of Forex trading.
- Trading Signals & Alerts – Offered by DailyFX plus, they are recommendations to buy and sell trade setups along with take profit and cut loss point.
- Webinars – FXCM regularly host webinars to update clients about the market and provide the required analysis. It also has a library of videos which explain how to use the platforms, different types of orders and tools the company offers.
- Active Trader – This is FXCM‘s own elite program where clients get premium support, discounted commissions and DailyFX on demand, a trading room that hosts discussions about the market, opportunities and major economic events. They recommend trade setups, and then support the client directly with one of analysts. This service is available to accounts above $150,000.
- DailyFX – An online paid service, which gives FXCM‘s clients access to trading signals, education and a trading course addressing introductory and advanced trading concepts. Services of DailyFX are presented via video lessons and live trading sessions.
How is the client support service in general?
What does the industry say?
As for awards won, FXCM received quite a number of them, including the Best Educational Material, Best Retail Platform, Largest Forex Provider and Best Forex Brokerage Service.
How safe is my money?
What platforms does FXCM offer?
FXCM developed its’ own in-house trading platform, the Trading Station, which includes access to advanced charting tools and live analysis from DailyFX. The Trading Station is available in three forms; web, mobile and desktop. In addition to it, FXCM offers the user friendly MetaTrader4, which the markets’ standard. FXCM also gives access to excellent third-party online services, such as the ZuluTrader and NinjaTrader. The NinjaTrader allows for automating trading strategies without prior coding knowledge. The ZuluTrader is FXCM‘s social network which through it clients can subscribe to trading signals from other traders. It also offers MirrorTrader, a platform which allows clients to copy trades from other traders.
What about its trading conditions?
The margin requirement on accounts opened with FXCM USA is 2% and the leverage is to a maximum of 50:1. However, through other offices, the margin requirement in standard accounts is 0.25%, and 1% for the premium account. Leverage is 400:1 and 100:1 for the standard and premium accounts respectively.
FXCM guarantees no re-quotes by offering one click execution, however, prices may be subject to slippage during volatile market conditions. The company guarantees filling stop loss and take profit orders as long as the price is available in the market. FXCM doesn’t discourage scalping and allows use of Expert Advisors on MT4 platform.
How much will it cost me?
Sharia compliant accounts are available through the company’s office in Lebanon, but this is not promoted on their website, primarily because of FXCM‘s large number of clients who will try to take advantage of a swap free trading.
Funds are accepted from all major sources including credit cards, ewallets and bank accounts. Upon withdrawals, funds are sent back to the originating source. Withdrawals are operated from an account dashboard called MyFXCM, which is a very useful tool.
Any special deals?
The bottom line
Do you like this broker?
If you like this broker and want to open a live account, send us a request by filling the form below and we will reimburse you the full rebate generated from your trading.