FXCM Review 2024

What is FXCM?

FXCM, also known as Forex Capital Markets, is a retail foreign exchange broker for trading on the foreign exchange market. Founded in 1999, FXCM was one of the early developers of an electronic trading platform for trading on the foreign exchange market. FXCM allows people to speculate on the foreign exchange market and provides trading in contract for difference (CFDs) on major indices and commodities such as gold and crude oil. It is based in London. The company was banned from United States markets for defrauding its customers. Its former parent company, Global Brokerage, Inc. filed for bankruptcy on December 11, 2017. The operating company, known as FXCM Group, is now owned by Jefferies Financial Group, which changed its name from Leucadia National Corporation in 2018. On February 6, 2017, the firm agreed to pay a $7 million penalty to settle a suit from the U.S. Commodity Futures Trading Commission (CFTC) involving fraudulent misrepresentation by FXCM to its customers and to regulators. FXCM withdrew its CFTC registration and agreed not to re-register in the future, effectively banning it from trading in the United States. FXCM is a leading global provider of foreign exchange (currency) trading and related services to retail and institutional customers. It was the first Forex broker to list on the New York Stock Exchange (NYSE: FXCM). FXCM is a general purpose-type broker for active traders who trade independently and implement classic strategies in their trading. FXCM Markets company incorporated in Bermuda and provides a wide range of financial services for traders almost all over the world. FXCM’s account opening process is straightforward, easy and fast. It has great technical research tools, including many technical indicators. The available educational content is high-quality. On the negative side, FXCM provides only CFDs (forex, indices, commodities, cryptos and shares), thus popular asset classes like real stocks or ETFs are missing. There is also a high fee for bank withdrawals. Lastly, the trading platforms don’t offer safer two-step authentication.

What is the Review Rating of FXCM?

What are the Pros of FXCM?

FXCM, a UK-based broker, offers several advantages that make it a strong choice for forex and CFD trading. Here are some of the key benefits:. Straightforward Account Opening: FXCM’s account opening process is easy and fast. This allows traders to quickly get started with their trading activities. Excellent Technical Research Tools: FXCM provides great technical research tools, including a wide range of technical indicators. These tools can be invaluable for traders looking to analyze market trends and make informed trading decisions. High-Quality Educational Content: The educational content provided by FXCM is of high quality. This can be particularly beneficial for new traders looking to learn more about forex and CFD trading. Regulation: FXCM is regulated in four Tier-1 jurisdictions and two Tier-2 jurisdictions. This provides traders with the assurance that they are dealing with a reputable broker. Advanced Trading Solutions: FXCM is a leader in algorithmic trading solutions. Whether you’re a beginner using Capitalise.io or an advanced coder using Python, FXCM has solutions to meet your needs. No Commission on FX: FXCM does not charge any commission on forex trades. This can help traders keep their trading costs down. Please note that while FXCM offers many advantages, it’s important to consider all aspects of a broker before deciding to trade with them. For example, FXCM does not offer two-step authentication on its trading platforms. , and its product portfolio is limited.

What are the Cons of FXCM?

FXCM, a UK-based broker offering forex and CFD trading, has several disadvantages that potential clients should be aware of:. Limited Product Portfolio: FXCM provides only CFDs (forex, indices, commodities, cryptos, and shares), thus popular asset classes like real stocks or ETFs are missing. High Bank Withdrawal Fees: While there are no account, deposit, or credit/debit card withdrawal fees, a high fee is charged for bank withdrawals. No Two-Step Authentication: The trading platforms don’t offer safer two-step authentication. This could be a potential security concern for some users. Inactivity Fees: FXCM charges a $50 fee after one year of inactivity. This could be a disadvantage for traders who do not trade frequently. No 24/7 Support: FXCM does not offer 24/7 support, only 24/5. This could be a disadvantage for traders who need assistance outside of these hours. No Real Stocks: FXCM does not offer real stocks, only CFDs. This limits the options for traders interested in stock trading. No Unlimited Demo Account: FXCM does not offer an unlimited demo account. The demo account is limited to $20,000. Withdrawal Fees for Bank Transfers: FXCM charges a $40 fee for withdrawal fees for bank transfers. High Spreads on Standard Accounts: FXCM has high spreads on Standard Accounts, starting from 1.3 pips. . These factors should be carefully considered by potential clients before choosing FXCM as their forex broker.

What are the FXCM Current Promos?

FXCM, a leading provider of online foreign exchange trading, is currently offering several promotions to both new and existing customers. Here are the details:. Fuel Your Account Promotion: Customers who open an account and make a deposit within 24 hours of account activation can receive a bonus of up to $500. The bonus percentage is 5% for deposits made within 24 hours, 3% for deposits made from 24 hours to 1 week, and 2% for deposits made from 1 week to 1 month. The bonus will be based on the initial deposit amount and deposit time after account activation. 100% Match Up Bonus: Both new and current clients who deposit over $500 can participate in this promotion. During the promotion period, customers need to make a deposit and trade the required volume within one calendar month. The bonus will be credited automatically to the account within 14 business days. Based on the deposit and volume, FXCM will match up to 100% of the net deposit. FXCM Rebate Program: Active participants in the financial markets can get Cash Rebates according to the volume they trade. Friends and Family Referral Program: Customers can earn up to $400 bonus for friends they refer. Once the referred friends deposit and complete the required trading volume within 90 days of joining, the referrer gets rewarded. A double bonus is offered if more than 5 people are referred. TradingView Pro Promotion: Customers can get TradingView Pro, Pro+ or Premium for free with FXCM. Please note that participating in any or all of these promotions does not guarantee a trading profit. The promotion ends on 31st December 2023.

What are the FXCM Highlights?

FXCM, a leading online forex trading and CFD broker, has been making significant strides in the financial market. Here are some of the key highlights:. Trading Platforms: FXCM offers a choice of forex trading platforms including MetaTrader 4, NinjaTrader, and their proprietary platform, Trading Station. These platforms are equipped with robust charting tools, making them ideal for technical traders. Market Analysis and News: FXCM provides comprehensive market analysis and news on forex, shares, and cryptocurrencies. This includes insights on commodities, global markets, indices, and shares. Trading Instruments: FXCM offers a wide range of trading instruments. Some of the most popular ones include EUR/USD, GBP/USD, USD/JPY, UK100, USOil, AUD/USD, EUR/CHF, EUR/GBP, EUR/JPY, GBP/AUD, USD/CAD, and NAS100. Spreads and Leverage: FXCM offers competitive spreads from 1.30 to 0.4 pips on EUR/USD and zero commissions. The leverage offered is up to 30:1 for AU, EU, and UK clients, while it’s 400:1 for other clients. Additional Features: FXCM has introduced PayPal as a new deposit method, allowing clients to fund their accounts without any restrictions on their payments. They also offer a free practice account with 50,000 virtual money for risk-free trading. These highlights demonstrate FXCM’s commitment to providing a comprehensive and user-friendly trading experience for its clients.

Is FXCM Legit and Trustworthy?

FXCM, also known as Forex Capital Markets, is a well-established and reputable online forex broker. It has been in operation for over 20 years. , which speaks volumes about its reliability and trustworthiness. FXCM is regulated by multiple top-tier authorities, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia. This level of regulation provides a significant degree of protection for traders and is a strong indicator of FXCM’s legitimacy. Customer reviews of FXCM are generally positive, with the company achieving an excellent rating of 4.4 on Trustpilot. Customers have praised the company’s customer support, low spreads, and zero commission fees. However, some customers have reported delays in response times. In terms of trading tools and platforms, FXCM is highly regarded, particularly for algorithmic trading. The company offers a range of advanced trading tools and quality market research, making it a good choice for traders who appreciate these features. However, it’s worth noting that FXCM’s range of tradeable markets is somewhat limited, and its pricing is considered average. Additionally, while the company supports a variety of third-party platforms for algorithmic trading, MetaTrader 5 (MT5) is not available. In conclusion, FXCM is a legitimate and trustworthy forex broker with a long-standing reputation in the industry. However, as with any financial decision, potential traders should conduct their own due diligence before choosing a forex broker.

Is FXCM Regulated and who are the Regulators?

FXCM, also known as Forex Capital Markets, is indeed a regulated entity. It is overseen by several regulatory bodies globally, ensuring it adheres to the highest standards of ethical behavior, professionalism, and trust. Regulatory Bodies:. Financial Conduct Authority (FCA): FXCM is regulated by the FCA, an independent non-governmental organization in Great Britain. The FCA is known for its stringent guidelines and regulations, providing a high level of security for traders. Australian Securities and Investments Commission (ASIC): Stratos Trading Pty. Limited, trading as FXCM, is regulated by ASIC. ASIC is an independent Australian government body that acts as Australia’s corporate regulator, contributing to Australia’s economic reputation and wellbeing by ensuring that Australia’s financial markets are fair and transparent. Financial Sector Conduct Authority (FSCA): Stratos South Africa (Pty) Ltd, another entity of FXCM, is regulated by the FSCA. The FSCA is a market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures. Cyprus Securities and Exchange Commission (CySEC): FXCM is also regulated by CySEC. CySEC is the financial regulatory agency of the Republic of Cyprus and is one of the most recognized regulatory bodies in the forex industry. It’s important to note that while Stratos Global LLC, which operates under the FXCM brand, is not subject to the same regulatory oversight, it maintains the same commitment to high standards of trust and confidence. If traders prefer a regulated entity, they are encouraged to open an account with Stratos Markets Limited, FXCM AU, or Stratos South Africa (Pty) Ltd. In conclusion, FXCM’s regulation by these reputable financial authorities provides traders with an added layer of security and trust, making it a safe and reliable choice for forex trading. However, as with all forms of investment, potential traders should perform their own due diligence before making any trading decisions.

Did FXCM win any Awards?

FXCM, a leading provider of online foreign exchange (FX) trading, CFD trading, and related services, has been recognized with numerous awards for its products and customer service. Here are some of the notable awards:. ForexBrokers.com 2023: FXCM was recognized as the Best in Class for Algo Trading, MetaTrader, Professional Trading, Social Copy Trading, Platforms & Tools. Global Forex Awards 2022: FXCM was awarded as the Most Transparent Forex Broker globally. Ultimate Fintech Awards 2022: FXCM was named the Broker of the Year. Shares Awards 2021: FXCM’s platform was named the Best Forex Trading Platform. Global Forex Awards 2021: FXCM was recognized for having the Best Forex Mobile Trading Platform globally. ForexBrokers.com 2021: FXCM was recognized as the Best in Class for Platforms & Tools, Mobile Trading, Professional Trading, and Ease of Use. Shares Awards 2020: FXCM was recognized for having the Best Trading Tools and Research. Global Forex Awards 2020: FXCM was awarded for having the Best Forex Trading Platform globally. Brokerchooser 2019: FXCM was recognized for having the Best Technical Tools. FXEmpire 2017: FXCM was awarded for having the Best Customer Support. Forex Magnates London Summit Award 2013: FXCM was recognized as the Winner for Best Retail Broker Execution. These awards highlight FXCM’s commitment to providing robust trading tools, transparent pricing, and excellent customer service in the forex market. Please note that trading forex/CFDs on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss in excess of your deposited funds. Please refer to FXCM’s full risk warning. Please note that this information is current as of the time of writing and may have changed. For the most up-to-date information, please visit the official FXCM website.

How do I get in Contact with FXCM?

FXCM, a leading provider of online foreign exchange (FX) trading, CFD trading, and related services, offers several ways for clients to get in touch with them. Email Support You can reach out to FXCM via email at support@fxcmpro.com. This is a convenient method of communication, especially for detailed inquiries or concerns that require a written record. Phone Support FXCM provides phone support for various regions. Here are the contact numbers for some of the key regions:. United Kingdom: +44 (0) 207 903 3861. United States: +1 646 253 1716. Hong Kong, China: +852 (0) 6381 5679. Australia: 1800 109 751. Office Address For clients in Canada, FXCM can be reached at their office located at 220 Bay Street, Suite 600, Toronto, Ontario, M5J 2W4, Canada. Live Chat Depending on the jurisdiction, FXCM also offers live chat support. This can be a quick and efficient way to resolve any immediate issues or questions you may have. Please note that the availability of these contact methods may vary, and it’s always a good idea to check FXCM’s official website for the most up-to-date contact information. Remember, trading on leverage carries a high level of risk and may not be suitable for all investors. Always seek independent advice if necessary and consider your financial situation and trading experience before trading.

Where are the Headquarters from FXCM based?

FXCM, also known as Forex Capital Markets, is a global forex broker that caters to both retail and institutional traders. The company is well-known in the financial industry for its user-friendly trading platforms and educational resources. The headquarters of FXCM is located in London, United Kingdom. Specifically, the address is 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom. This strategic location in one of the world’s leading financial hubs allows FXCM to provide exceptional service to traders around the world. In addition to its London headquarters, FXCM has offices, partners, and affiliates in major financial centers worldwide. This includes locations such as Cyprus, Germany, Australia, Canada, Israel, and South Africa. Each of these offices plays a crucial role in FXCM’s global operations, ensuring that the company can cater to the diverse needs of its international client base. FXCM’s commitment to providing top-notch forex trading services is evident in its regulatory status. The company is an authorized Financial Services Provider and is regulated by various financial authorities depending on the region. For instance, in the UK, it is regulated by the Financial Conduct Authority (FCA). , while in Australia, it is regulated by the Australian Securities and Investments Commission. In conclusion, FXCM’s global presence and strong regulatory oversight make it a reliable choice for forex traders. Whether you’re a beginner looking to dip your toes in the forex market or an experienced trader seeking advanced trading tools, FXCM has something to offer.

What kind of Customer Support is offered by FXCM?

FXCM offers a comprehensive customer support system to cater to the needs of its clients. Here are the key aspects of their customer support:. Trading Desk Support FXCM’s forex trading desk is available to live account holders. Clients can place and manage orders over the phone with the trading desk when necessary. The trading desk opens on Sundays between 5:00 PM ET and 5:15 PM ET and closes on Fridays at 4:55 PM ET. Phone Trading Etiquette FXCM encourages all clients who contact the trading desk to follow their phone trading etiquette. This includes providing the account number, login ID, answer to the security question, and the name on the account. Sales and Client Services Support Desk If a trade was executed incorrectly, clients can contact the Sales and Client Services Support Desk. It’s important to have all information pertaining to the trade including the ticket number, time of the trade, and nature of the problem. Security FXCM utilizes state-of-the-art encryption, authentication protocols, and one of the best firewall protections to ensure that every transaction and client record is completely authenticated and secure. FXCM employs backup systems and contingency plans to minimize the possibility of system failures. International Support FXCM has offices, partners, and affiliates in the major financial centers of the world, positioning FXCM to provide exceptional service to traders. They have international phone numbers and specific email addresses for general inquiries and account-specific inquiries. Live Web Chat and Email Support FXCM representatives are available 24 hours a day, 5 days a week, and live chat support is available 24/5. They also offer support through WhatsApp and email. Please note that the information provided is based on the latest available data and may be subject to change.

Which Educational and Learning Materials are offered by FXCM?

FXCM, a leader in the Forex market, offers a variety of educational and learning materials designed for traders at all levels. These resources aim to help individuals become better traders and gain a deeper understanding of the Forex market. Live Daily Webinars: FXCM hosts live daily webinars where traders can participate for free. These webinars are conducted by Russell Shor and provide an opportunity for traders to have their questions answered live. Videos On-Demand: Traders can watch a variety of videos on-demand, providing flexibility to learn at their own pace. Different Education Services: FXCM offers different education services to cater to the diverse learning needs of traders. Trading Guides: Traders can build their knowledge by selecting from FXCM’s library of in-depth trading, strategy, and instrument guides. These guides cover a range of topics, including an introduction to Forex and the traits of successful Forex traders. Market Updates: FXCM provides market updates at the US Open every weekday at 14:20 UTC. In addition, a Morning Market Review is available every weekday at 07:40 UTC. The Crypto Minute: Every Wednesday at 08:00 UTC, FXCM hosts ‘The Crypto Minute’, a dedicated session for crypto enthusiasts. Please note that any opinions, news, research, analyses, prices, or other information provided by FXCM are given on an “as-is” basis and do not constitute investment advice.

Can anyone join FXCM?

FXCM, a leading provider of online foreign exchange (forex) trading, offers individuals the opportunity to engage in the forex market. The process of joining FXCM is straightforward and accessible to many, but there are certain requirements that need to be met. Eligibility Criteria: At FXCM, opening a live forex trading account is quick and easy. The primary requirement is to confirm your country of residence and complete the online application. Once your application is finalised and approved, you will receive a MyFXCM username and password. This information can be used to log-in at the MyFXCM client portal, deposit funds, and begin trading. Trading Platforms: FXCM offers a variety of trading platforms to suit different trading styles and preferences. These include the FXCM Flagship Trading Station, MetaTrader4 (MT4), and ZuluTrade. Each platform is designed to optimise performance in the forex and CFD markets. Account Funding: Contrary to a common misconception about forex trading, FXCM accommodates traders of all sizes by foregoing account minimums. You are free to begin your forex trading career with as much money as you see fit. In conclusion, while FXCM is accessible to many, it’s important to note that the company will only conduct business with a client for whom it considers such business to be appropriate. This assessment is based on the information provided by the client in their application form. Therefore, not everyone may be eligible to join FXCM.

Who should sign up with FXCM?

FXCM, a UK-based broker offering forex and CFD trading, is a platform that caters to a variety of traders. Here are some categories of individuals who might find FXCM suitable:. Active Traders: FXCM’s Active Trader account is designed for individuals who are heavily involved in the markets. If you find yourself in front of a trading screen five days a week, then the Active Trader account could be a good fit for you. Forex Traders: FXCM is recommended for forex traders looking for easy account opening, funding, and withdrawal. The platform offers 45 currency pairs, providing ample opportunities for forex trading. Technical Traders: FXCM provides great technical research tools, including many technical indicators. This makes it a good choice for traders who rely on technical analysis. Educated Traders: The platform offers high-quality educational content. , making it suitable for traders who wish to continue learning and improving their trading skills. CFD Traders: Besides forex, FXCM also offers CFDs on indices, commodities, cryptos, and shares. Therefore, traders interested in these assets might consider signing up with FXCM. However, it’s important to note that FXCM might not be suitable for everyone. The platform does not offer real stocks or ETFs, and there is a high fee for bank withdrawals. Additionally, the trading platforms don’t offer safer two-step authentication. Before signing up, potential clients should consider their individual trading needs and financial circumstances. FXCM will only conduct business with a client for whom it considers such business to be appropriate, and in assessing appropriateness, will rely on the information provided by the client in their application form.

Who should NOT sign up with FXCM?

FXCM is a well-regarded forex broker with a wide range of offerings. However, it may not be suitable for everyone. Here are some categories of individuals who might want to reconsider signing up with FXCM:. Residents of Certain Countries: FXCM does not currently accept clients who are residents of the USA, Japan, Brazil, Turkey, Iran, Cuba, Sudan, Syria, or North Korea. This is likely due to regulatory restrictions in these countries. Existing or Former Clients: According to FXCM’s referral program, referred clients must apply as natural persons and cannot be former or existing clients of FXCM. This suggests that those who have previously held accounts with FXCM or currently do so may not be eligible for certain promotions or benefits. Individuals Seeking a Wide Range of Asset Classes: FXCM primarily offers CFDs (forex, indices, commodities, cryptos, and shares). If you’re interested in trading real stocks or ETFs, you might find FXCM’s product portfolio limiting. Individuals Uncomfortable with Third-Party Services: FXCM mentions that it does not make any warranties regarding the services provided by third parties. Clients are not required to sign up with the third parties FXCM offers, but are encouraged to find a VPS provider that best meets their needs. If you prefer a broker that provides all services in-house, FXCM might not be the best fit. Individuals Seeking Two-Step Authentication: For added security, many traders prefer platforms that offer two-step authentication. Currently, FXCM’s trading platforms do not offer this feature. Individuals Averse to Fees: While FXCM does not charge withdrawal fees for credit/debit cards, it does impose a high fee for bank withdrawals. Additionally, an inactivity fee is charged after one year. If you’re seeking a broker with lower fees, you might want to explore other options. Remember, it’s important to thoroughly research and consider your personal needs and circumstances before choosing a forex broker. It’s always a good idea to test out a broker’s platform using a demo account before making a commitment. Happy trading!.

Does FXCM offer Discounts, Coupons, or Promo Codes?

FXCM, a major player in the forex trading industry, does offer various discounts, coupons, and promo codes, although these are issued very rarely. Promo Codes In December 2023, FXCM offered a promo code that provided a $100 discount. However, it’s important to note that these promo codes are not always available. When they are, they can be found on various coupon and discount websites. Discounts FXCM also offers discounts on its products. For instance, in December 2023, discounts of up to 30% were available. These discounts can vary, so it’s recommended to check regularly for the latest offers. Partnerships FXCM has partnerships with other retail websites, which can lead to additional savings. For example, in December 2023, customers could get up to 50% off TurboTax at eBay, and up to 20% off Forex Trading at Walmart. Membership Offers Exclusive news and offers are available for FXCM membership. This is another way FXCM provides value to its customers. Free Shipping In some cases, FXCM offers free shipping on its products. This can be a significant saving, especially for larger purchases. It’s important to note that while FXCM does offer these discounts, coupons, and promo codes, they are not always available and can change frequently. Therefore, it’s recommended to check regularly for the latest offers and deals. Please note that all information is subject to change and it’s always best to check the official FXCM website or contact their customer service for the most accurate and up-to-date information. Remember, trading forex involves risk, and it’s important to only trade with money that you can afford to lose. Always make sure to do your own research and consult with a financial advisor before making any investment decisions. Happy trading!.

Which Account Types are offered by FXCM?

FXCM, a leading provider of online foreign exchange (FX) trading, CFD trading, and related services, offers four distinct account types. Standard Account: This is the basic account type offered by FXCM. It provides traders with access to the forex market and a wide range of CFDs. Traders can trade popular currency pairs and CFDs with enhanced execution and no restrictions on stop and limit orders. Active Trader Account: Designed for high-volume traders, the Active Trader account offers more competitive spreads and access to premium services. This account type may be more suitable for traders who plan to execute several trades per day. Islamic, Swap-Free Account: This account type is designed for traders who cannot earn or pay interest due to their religious beliefs. It adheres to Islamic law, which prohibits earning interest, making it a suitable choice for practicing Muslims. FXCM Risk-Free Demo Account: This account type is designed for new traders or those who wish to practice their trading strategies without risking real money. It offers live market conditions, allowing traders to gain experience and confidence before trading with real money. FXCM also supports several powerful platforms, each designed to optimize performance in the forex and CFD markets. These include their flagship platform, Trading Station, the industry-standard MetaTrader4 (MT4), and the peer-to-peer auto trading platform, ZuluTrade. It’s important to note that all new accounts are defaulted to up to 1000:1 leverage. This means that traders can trade with more money than they have in their account, potentially increasing their buying power and the opportunity for profit. However, it’s crucial to remember that while leverage can magnify profits, it can also magnify losses. In conclusion, FXCM offers a variety of account types to cater to the diverse needs of forex traders. Whether you’re a beginner looking to dip your toes in the forex market, an experienced trader seeking competitive spreads, or a trader who requires an account that complies with Islamic law, FXCM has an account type to suit your needs.

How to Open a FXCM LIVE Account?

Opening a FXCM LIVE Account involves a few steps. Here’s a detailed guide:. Initial Form: Start by filling out the initial form on the FXCM website. This will include basic information such as your name, email, and base currency. Complete Application: After filling out the initial form, you’ll need to complete the application on FXCM’s secure server. This will involve entering more personal information like your city, date of birth, and profession. Verification: You may be required to upload additional documentation such as a government-issued photo ID and proof of residence to complete your account application. This is a standard procedure for most forex trading platforms to comply with regulations and ensure the security of all users. Deposit and Trade: Once your application is complete and verified, you can log in to your new account, deposit funds, and start trading. Please note that FXCM will only conduct business with a client for whom it considers such business to be appropriate. In assessing appropriateness, FXCM will rely on the information provided by the client in their application form. Therefore, it’s essential to provide accurate information and immediately advise FXCM in writing if there is an adverse change in the information you have provided. Remember, forex trading involves risk and isn’t suitable for all investors. It’s important to understand the risks involved and consider your individual circumstances before trading. If you already have an active account, you may simply request an additional one via www.MyFXCM.com. You can maintain up to 5 live trading accounts. For more information or if you have any questions, please contact FXCM directly.

How to Open a FXCM DEMO account?

Opening a FXCM Demo Account is a straightforward process that allows you to practice forex trading with virtual funds. Here’s a step-by-step guide:. Access the Broker’s Official Website: Visit the official website of FXCM. You can easily find it by searching for “FXCM” in your web browser. Open Demo Account: On the FXCM website, look for an option saying “Open Demo Account” or "Try Free Demo". Click on this option to start the process of opening your demo account. Enter Your Details: A registration form will appear. Fill in the required details, which typically include your name, email address, mobile number, residential address, and preferred currency option. Opt for Updates: Choose whether you want to receive frequent updates about FXCM products/services and educational trading materials. Verify Your Profile: After filling in your details, you may need to verify your profile. Login into the Demo Account: Once your profile is verified, you can log into your demo account. The FXCM Demo Account provides live buy & sell prices, £50,000 of virtual money, and access to trading 24/5. It’s an ideal way to become acquainted with FXCM’s cutting-edge trading infrastructure. Remember, demo trading accurately simulates live market conditions and is absolutely risk-free. Please note that trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors. Always trade responsibly and make sure to read and understand all the terms and conditions. I hope this guide helps you in opening a FXCM Demo Account. Happy trading!.

How Are You Protected as a Client at FXCM?

As a client at FXCM, you are protected in several ways:. Segregated Trust Account: FXCM strictly abides by the rules on client money. Retail client deposits are kept in a segregated trust account. This means that your funds are kept separate from the company’s operational funds, providing an additional layer of security. Investor Protection Amount: Depending on the country of the client, there is a certain investor protection amount. For instance, clients in the UK are protected up to £85,000 by the FCA. Clients in the EU are protected up to €20,000 by CySEC. However, it’s important to note that clients in Australia and South Africa, as well as all other clients, do not have this protection. Educational Resources: FXCM offers its clients a variety of tools and resources to help them become more educated and profitable traders. This includes access to a customized free Trading Analytics report via FXCM PLUS. Account Management: All FXCM clients have access to the client-service portal through their live trading account credentials. This allows clients to manage their accounts effectively and securely. Trading Tools & Signals: FXCM provides trading signals that are generated and updated in real-time 24 hours a day, 5 days a week. These signals can help clients decide when to buy, when to sell, and where to set their stops and limits. Market News & Analysis: FXCM provides market news about forex, commodities, and other world markets. Clients can filter stories by the economic indicators and currency pairs that are more important to them. Economic Calendar: FXCM’s Economic Calendar is an easy way to keep track of important economic events that could impact your trading. Remember, while these protections are in place, trading in forex involves a significant risk of loss and is not suitable for all investors. Always trade responsibly and consider your risk tolerance and financial situation.

Which Funding methods or Deposit Options are available at FXCM?

FXCM, a leading provider of online foreign exchange (forex) trading, offers a range of funding options for depositing funds quickly and securely. Debit/Credit Cards: FXCM accepts deposits via debit and credit cards. This is often the quickest and most convenient way to deposit funds. However, FXCM does not have control over the entire funding process and may rely on third parties to facilitate verification and transfer of funds depending on the deposit origin. Therefore, delays of up to one business day can occur. Bank Wire: Bank wire transfers are another common method for depositing funds into your FXCM account. This method might take a bit longer compared to card payments. Google Pay: FXCM has recently introduced Google Pay as a new deposit method. This provides a fast and secure way for clients to fund their accounts. Skrill and Neteller: These are popular online wallets (e-wallets) that FXCM accepts for deposits. They offer a convenient and secure way to transfer funds. China Online Payment: FXCM also accepts deposits through China Online Payment. , providing an additional option for clients in China. Crypto: FXCM has also started accepting deposits in cryptocurrency. , providing a modern and potentially convenient option for tech-savvy traders. Please note that FXCM does not accept third-party payments. Deposits received from an account in a different name and/or held by someone other than the trading account holder constitutes a third-party deposit. This also applies to corporate funds received for an individual account and similar scenarios. It’s important to familiarize yourself with the functionality of the FXCM Mobile Trading Station prior to managing a live account via a portable device. FXCM cannot guarantee exchange rates for deposits not made in the currency denomination of the account. For a complete list of the options available to you, please log onto MyFXCM and click “Deposit Funds”. If you have any questions regarding this, please contact FXCM via Chat Offline.

What is the Minimum Deposit Amount at FXCM?

FXCM, a UK-based broker offering forex and CFD trading, has a minimum deposit requirement that varies depending on the type of account and the depositor’s location. For individual accounts, the initial deposit requirement is 50 CCY. However, for corporate, trust, or IRA accounts, the initial deposit requirement is significantly higher at 50,000.00 CCY. After the initial deposit, there is no minimum for deposits made by wire. , and the minimum deposit by card is 50 CCY. It’s important to note that the minimum deposit requirement may vary for traders in different locations. For instance, European and British traders are required to deposit at least $300 to open a real account. Interestingly, in South Africa, FXCM does not require a minimum deposit. FXCM is regulated by the FCA and Australia’s ASIC. , which means that it is overseen by at least one top-tier regulator, providing assurance of its reliability. This is an important consideration for traders when choosing a forex broker. In summary, while the minimum deposit amount at FXCM is generally $50, it can vary depending on the type of account and the trader’s location. As always, traders should ensure they fully understand the terms and conditions associated with their account before they start trading.

Which Withdrawal methods are available at FXCM?

FXCM, a leading provider of online foreign exchange (FX) trading, offers a variety of withdrawal methods for the convenience of its clients. Here are the details:. Credit or Debit Card Withdrawals can be made to the credit or debit card used for funding. The time frames for these transactions will vary depending on the credit card issuer and may take up to one billing cycle to post back to the credit or debit card. If the card is closed, expired, or a different credit card number has been issued, an alternative method of withdrawal should be chosen. Bank Wires Domestic bank wires take about one to two business days, and international bank wires take about three to five business days, often less, to arrive. A withdrawal fee may be charged for bank wire requests. Skrill If you have funded your account via Skrill, you may also withdraw via Skrill. Neteller If you have funded your account via Neteller, you may also withdraw via Neteller. Unionpay Unionpay is also listed as a withdrawal option. Please note that you can only withdraw funds to accounts that are in your name. It’s also important to remember that returning funds to a closed account can cause a significant delay in receiving funds, and FXCM cannot guarantee a time frame in which funds will be received if the requested withdrawal amount is initiated to a closed account. For more detailed information regarding the withdrawal process, you can log into MyFXCM and click on “Withdraw Funds”. A withdrawal request can be submitted online by selecting your withdrawal method and clicking “Submit”. FXCM will process your withdrawal request within one to two business days whenever possible. Please note that the information provided here is based on the latest available data and may be subject to change.

Which Fees are charged by FXCM?

FXCM, a leading provider of online foreign exchange (forex) trading, charges its clients in several ways. Here’s a detailed breakdown:. 1. Spread Fees The primary cost you incur when trading with FXCM is the spread. The spread is the difference between the BUY and SELL prices. For example, if the SELL price for EUR/USD is 1.35000 and the BUY price for EUR/USD is 1.35020, the spread is 2 pips. The value of the “pip” in every trade is determined by your trade size. If your base currency is USD and you trade a 1K trade (or .01 on MT4), the value of each pip is 10 cents. Therefore, the cost to open a BUY or SELL trade on EUR/USD in this example = $0.10 (Pip cost) * 2 (the spread) = $0.20. The total cost to open this trade is $0.20. 2. Custom Rates FXCM also mentions that some clients may be subject to custom rates which are not detailed in their standard Rate Card. Clients subject to custom rates should refer to any Rate Card, supplement, or notice that FXCM issues to them for their applicable charges. 3. Other Fees In addition to the spread fees and possible custom rates, trading with FXCM involves fees from $50 USD, spreads from 0.2 pips to 1.3 pips, and commissions depending on the account type selected. Please note that these fees are subject to change and it’s always a good idea to check FXCM’s official website or contact their customer service for the most up-to-date information.

What can I trade with FXCM?

FXCM offers a wide range of trading opportunities in various financial markets. Here’s a detailed breakdown:. Forex Currency Pairs FXCM provides trading opportunities in major Forex pairs. Some of the Forex currency pairs you can trade with FXCM include AUD/CAD, GBP/JPY, AUD/CHF, GBP/NZD, AUD/JPY, GBP/USD, AUD/NZD, NZD/CAD, AUD/USD, NZD/CHF, CAD/CHF, NZD/JPY, CAD/JPY, NZD/USD, CHF/JPY, TRY/JPY, EUR/AUD, USD/CAD, EUR/CAD, USD/CHF, EUR/CHF, USD/CNH, EUR/GBP, USD/ILS, EUR/JPY, USD/HUF, EUR/HUF, USD/JPY, EUR/NOK, USD/MXN, EUR/NZD, USD/NOK, EUR/SEK, USD/SEK, EUR/TRY, USD/TRY, EUR/USD, USD/ZAR, GBP/AUD, ZAR/JPY, GBP/CAD, and GBP/CHF. Forex Baskets FXCM also offers Forex baskets for trading. These include the Dollar Index Basket (USDOLLAR), Japanese Yen Index Basket (JPYBasket), and Emerging Markets Index Basket (EMBasket). CFDs You can trade CFDs on shares, stock indices, forex, commodities, and cryptos. Some of the CFDs available for trading include US30 (DJIA), SPX500 (S&P 500), NAS100 (NASDAQ-100), US2000 (RUSSELL 2000), UK100 (FTSE 100), GER30 (DAX), ESP35 (IBEX 35), FRA40 (CAC 40), HKG33 (HSI), JPN225 (NIKKEI 225), AUS200 (ASX 200), EUSTX50 (EURO STOXX 50), CHN50 (FTSE CHINA A50), VOLX (MINI VIX™ FUTURES), USOil (West Texas Intermediate Crude Oil), UKOil (Brent Crude Oil), USOilSpot (Spot WTI), UKOilSpot (Spot Brent Crude), NGAS (Henry Hub Natural Gas), XAU/USD (Gold), XAG/USD (Silver), Copper (Copper), SOYF (Soybean), WHEATF (Wheat), CORNF (Corn), Bund (Euro-Bund Futures Index). Cryptocurrencies FXCM offers trading opportunities in various cryptocurrencies. These include ADA/USD (Cardano), AVAX/USD (Avalanche), BCH/USD (Bitcoin Cash), BNB/USD (Binance Coin), BTC/AUD (Bitcoin), BTC/EUR (Bitcoin), BTC/GBP (Bitcoin), BTC/USD (Bitcoin), DOGE/USD (Dogecoin), DOT/USD (Polkadot), EOS/USD (EOS), ETH/AUD (Ether), ETH/EUR (Ether), ETH/USD (Ether), KSM/USD (Kasuma), LINK/USD (Chainlink), LTC/USD (Litecoin), MATIC/USD (Polygon (Matic)), SOL/USD (Solana), XLM/USD (Stellar Lumen), XTZ/USD (Tezos). Single Share CFDs FXCM offers Single Share CFDs for US shares, UK shares, EU shares, HK shares, and AU shares.

Which Trading Platforms are offered by FXCM?

FXCM, a renowned player in the forex market, offers a variety of trading platforms to cater to the diverse needs of traders worldwide. Here’s a detailed look at the platforms offered by FXCM:. Trading Station: This is FXCM’s proprietary platform and they’re particularly proud of it. It offers a range of features including 1K Micro Lots, Automated Trading, Pre-Loaded Strategies, Advanced Backtesting, Chart Trading, One-Click Trading, Email/SMS Alerts, Custom Indicators, and is available on Desktop, Web, and Mobile. MetaTrader 4 (MT4): A popular platform in the forex trading world, MT4 is also offered by FXCM. It’s known for its user-friendly interface and advanced charting capabilities. MetaTrader 4 users can also access Trading Station with their live account. ZuluTrade: This platform is designed for social trading, allowing traders to follow and copy the strategies of successful traders. Capitalise AI: This platform leverages artificial intelligence to help traders automate their trading strategies. TradingView Pro: This platform is known for its advanced charting features and a wide range of technical analysis tools. When you open an account with FXCM, you can trade from any platform. They also offer free demo accounts for each platform, allowing traders to familiarize themselves with the platform before committing to live trading. In conclusion, FXCM offers a comprehensive suite of platforms, each with its unique features and capabilities, catering to the diverse needs of forex traders globally.

Which Trading Instruments are offered by FXCM?

FXCM offers a wide range of trading instruments to cater to the diverse needs of traders worldwide. Here’s a detailed overview:. Forex Currency Pairs: FXCM offers trading opportunities in major Forex pairs such as AUD/CAD, GBP/JPY, AUD/CHF, GBP/NZD, AUD/JPY, GBP/USD, AUD/NZD, NZD/CAD, AUD/USD, NZD/CHF, CAD/CHF, NZD/JPY, CAD/JPY, NZD/USD, CHF/JPY, TRY/JPY, EUR/AUD, USD/CAD, EUR/CAD, USD/CHF, EUR/CHF, USD/CNH, EUR/GBP, USD/ILS, EUR/JPY, USD/HUF, EUR/HUF, USD/JPY, EUR/NOK, USD/MXN, EUR/NZD, USD/NOK, EUR/SEK, USD/SEK, EUR/TRY, USD/TRY, EUR/USD, USD/ZAR, GBP/AUD, ZAR/JPY, and GBP/CAD. Forex Baskets: These include the USDOLLAR (Dollar Index Basket), JPYBasket (Japanese Yen Index Basket), and EMBasket (Emerging Markets Index Basket). CFDs Index: Traders can also trade in CFDs Index which includes US30 (DJIA), SPX500 (S&P 500), NAS100 (NASDAQ-100), US2000 (RUSSELL 2000), UK100 (FTSE 100), GER30 (DAX), ESP35 (IBEX 35), FRA40 (CAC 40), HKG33 (HSI), JPN225 (NIKKEI 225), AUS200 (ASX 200), EUSTX50 (EURO STOXX 50), CHN50 (FTSE CHINA A50), and VOLX (MINI VIX™ FUTURES). Commodities & Treasury: This includes USOil (West Texas Intermediate Crude Oil), UKOil (Brent Crude Oil), USOilSpot (Spot WTI), UKOilSpot (Spot Brent Crude), NGAS (Henry Hub Natural Gas), XAU/USD (Gold), XAG/USD (Silver), Copper, SOYF (Soybean), WHEATF (Wheat), CORNF (Corn), and Bund (Euro-Bund Futures Index). Cryptocurrency: FXCM offers trading in cryptocurrencies like ADA/USD (Cardano), AVAX/USD (Avalanche), BCH/USD (Bitcoin Cash), BNB/USD (Binance Coin), BTC/AUD (Bitcoin), BTC/EUR (Bitcoin), BTC/GBP (Bitcoin), BTC/USD (Bitcoin), DOGE/USD (Dogecoin), DOT/USD (Polkadot), EOS/USD (EOS), ETH/AUD (Ether), ETH/EUR (Ether), ETH/USD (Ether), KSM/USD (Kasuma), LINK/USD (Chainlink), LTC/USD (Litecoin), MATIC/USD (Polygon (Matic)), SOL/USD (Solana), XLM/USD (Stellar Lumen), and XTZ/USD (Tezos). Single Share CFDs: FXCM offers Single Share CFDs for US SHARES, UK SHARES, EU SHARES, HK SHARES, and AU SHARES.

Which Trading Servers are offered by FXCM?

FXCM, a leading provider of online foreign exchange (forex) trading, offers a range of trading servers for both live and demo accounts. These servers are designed to provide traders with a robust and reliable platform for executing their trades. Live Servers:. USDReal01: mt4r01.fxcorporate.com. USDReal02: mt4r06.fxcorporate.com. USDReal03: mt4r09.fxcorporate.com. USDReal04: mt4r10.fxcorporate.com. USDReal05: mt4r11.fxcorporate.com. GBPReal01: mt4r04.fxcorporate.com. EURReal01: mt4r02.fxcorporate.com. AUDReal01: mt4r05.fxcorporate.com. CADReal01: mt4r08.fxcorporate.com. JPYReal01: mt4r03.fxcorporate.com. JPYReal02: mt4r07.fxcorporate.com. Demo Servers:. USDDemo01: mt4d01.fxcorporate.com. USDDemo02: mt4d06.fxcorporate.com. GBPDemo01: mt4d04.fxcorporate.com. EURDemo01: mt4d02.fxcorporate.com. AUDDemo01: mt4d05.fxcorporate.com. JPYDemo01: mt4d03.fxcorporate.com. These servers are located in key locations such as New York, London, and Amsterdam to ensure fast connection and low latency. The server addresses are used in the MetaTrader 4 platform, and if a trader is unsure of the server their account is set up for, they can confirm the specific server from the email sent by FXCM with their account details. FXCM’s Trading Station is their flagship proprietary platform. It features functionality in charting, order entry, and trade automation. It is available on Desktop and Mobile. The platform is the product of more than a decade of client feedback and cutting-edge technological prowess. In conclusion, FXCM provides a range of trading servers and platforms to cater to the diverse needs of forex traders, ensuring they have the tools and resources necessary for successful trading.

Can I trade Crypto with FXCM? Which crypto currencies are supported by FXCM?

Yes, you can trade cryptocurrencies with FXCM. FXCM offers a range of crypto CFD products including BTC/USD, ETH/USD, and LTC/USD. They also offer cryptocurrency CFD pairs featuring Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), EOS, and Stellar (XLM). FXCM provides several advantages for trading cryptocurrencies:. Start Small: You can control and scale your position sizes with small contract sizes. Leverage: You can trade the most popular cryptocurrencies with up to 4:1 effective leverage. However, remember that trading on margin is risky as it can significantly increase your losses as well. Short Trading: CFD traders can go long or short with a simple click of a button, and speculate on both the rise and fall of Cryptos. No Fussing With Crypto Wallets Or Hardware Wallets: At FXCM, you are only betting on the price of the underlying crypto, without having to worry about the safe-keeping of the actual cryptocurrency. Platform of Choice: FXCM’s platforms are battle-tested and have been in development throughout FXCM’s 20-year history. They are more feature-rich than the newly-established trading platforms of physical crypto companies. FXCM’s minimum trade sizes are designed to allow clients to manage their exposure and trade comfortably. For Bitcoin, the minimum trade size (1 contract) is equivalent to 1% of the price of Bitcoin. For BCH and ETH, the minimum trade size (1 contract) is equivalent to 10% the price of the asset. For LTC, EOS, and XLM the minimum trade size (1 contract) is equivalent to the underlying cryptocurrency. Please note that trading Crypto CFDs with FXCM allows you to use only a fraction of the capital. For Retail clients, approximately 4:1 leverage is available for individual equities. If you open a position worth $100, approximately $25 margin would be required. Remember, trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors. When executing customers’ trades, FXCM can be compensated in several ways, which include, but are not limited to: spreads, charging commissions at the open and close of a trade, and adding a mark-up to rollover, etc.

What kind of Spreads are offered by FXCM?

FXCM offers competitive spreads on currency pairs and CFD instruments. For active traders, deep discounts on spread costs are available based on the volume traded. The compensation for executing customers’ trades can be in several ways, which include, but are not limited to: spreads, charging commissions at the open and close of a trade, and adding a mark-up to rollover. Commission-based pricing is applicable to Active Trader account types. Spreads are variable and are subject to delay. The leverage for FX and CFDS varies per instrument. Major currency pairs default to 30:1, non-major currency pairs, gold and major indices default to 20:1, commodities other than gold and non-major equity indices default to 10:1, individual equities and other reference values default to 5:1, and cryptocurrencies default to 2:1. As of September 2023, the forex spreads at FXCM are considered average rather than low. For example, the EURUSD spread is 0.7, which is considered average. The GBPUSD spread is 1.0, also average. The AUDUSD spread is 0.9, which is considered low. The EURCHF spread is 2.4, considered high. , and the EURGBP spread is 1.3, also average. There is no FX commission at FXCM. All FX fees are built into the spread. Trading with FXCM involves fees from $50 USD, spreads from 0.2 pips to 1.3 pips, and commissions depending on the account type selected. Commissions are charged as low as $0.10 per lot on CFDs; the spreads start from as low as 0.2 pips with EUR/USD.

Does FXCM offer MAM Accounts or PAMM Accounts?

FXCM, a renowned player in the forex market, offers PAMM (Percent Allocated Money Management) Account Setups. However, these setups are exclusively available for Introducing and Referring brokers (IBs and RBs). They are not available for individual, self-traded clients. To understand this better, let’s delve into what PAMM and MAM accounts are. Both MAM (Multi-Account Manager) and PAMM (Percentage Allocation Management Module) accounts allow fund managers to manage multiple accounts from a single account without having to create an investment fund. The performance (profits and losses) of a PAMM or MAM account manager is distributed among the managed accounts. In a PAMM account, an investor can also allocate a percentage of his account to one or more managers. The manager’s PAMM account is a large “main account”, whose capital is equal to the sum of the sub-accounts. The manager’s trades are automatically replicated in the sub-accounts according to a percentage basis. On the other hand, a MAM account provides greater flexibility to allocate the trades and adjust the risk of each sub-account based on the clients’ risk profiles. For example, the manager can allocate trades on a fixed basis, which means that he can define the number of lots traded by each individual account. This fixed allocation can also be done using a LAMM (Lot Allocation Management Module) account. The manager can also change the amount of leverage applied to the sub-accounts if his clients want to take on a greater level of risk. While FXCM offers PAMM setups, there is no explicit information available about whether they offer MAM accounts. For more detailed information, it is recommended to contact FXCM directly.

Does FXCM allow Expert Advisors?

Yes, FXCM does allow Expert Advisors (EAs). Here’s a detailed explanation:. Setting up an EA on FXCM’s MetaTrader 4 (MT4) platform. involves a few steps:. Adding an EA to the Data Folder: In the MT4 platform, navigate to File --> Open Data Folder. Once the folder opens, double-click on MQL4, then select the Experts folder. Copy the EA that you want to install into the Experts folder that contains some pre-installed EAs. Activating an EA: Drag the EA from the Expert Advisors section of the Navigator window onto the chart. This should open the settings window. In the settings window, navigate to the Common tab. Make sure that Allow Live Trading and Allow DLL imports are both checked. Enabling AutoTrading: In the top toolbar, you will see a button that says AutoTrading. Make sure that it is clicked. After following these steps, if the EA is set up correctly, the top right corner of the chart should display a smiley face. Please note that after installing a new EA, you should restart the MT4 platform. If you’re still experiencing issues with your EA, ensure that you are following all the steps, restart the platform, and if necessary, contact FXCM’s support. Remember, third-party EAs could have special instructions, so make sure to contact the source where the EA came from for proper instructions on the particular EA. In conclusion, FXCM does support the use of Expert Advisors for automated trading on their platform, providing traders with the flexibility to implement their own strategies and trading algorithms.