| FXCM Review Summary in 10 Points | |
| Founded | 1999 |
| Headquarters | London, UK |
| Regulation | ASIC, FCA, CySEC, IS |
| Market Instruments | Forex, shares, indices, commodities, cryptocurrencies |
| Demo Account | ✅($20,000 virtual money) |
| Leverage | 1000:1 |
| EUR/USD Spread | Floating around 1.1 pips |
| Trading Platforms | Trading Station, TradingView, MT4, ZuluTrade, Capitalise AI |
| Minimum Deposit | $50 |
| Customer Support | 24/5 - WhatsApp, email, Help Center |
FXCM Information
FXCM is a retail forex broker that was founded in 1999. The company is headquartered in London, UK, but has offices and affiliates in a number of other countries, including Australia, Germany, France, Italy, Greece, Hong Kong, Japan, South Africa, and the United States.
The company provides online trading services in forex, contracts for difference (CFDs), and other financial instruments. FXCM offers various trading platforms including the popular MetaTrader 4 (MT4), Trading Station, TradingView, ZuluTrade, and Capitalise AI.
Pros & Cons
FXCM is a well-established and reputable forex broker with over two decades of experience in the industry. Its strengths include its comprehensive educational resources, a wide range of trading instruments and platforms, and a global presence. FXCM also offers competitive pricing and flexible account options, making it accessible to traders of all levels.
| Pros | Cons |
| • Globally and heavily regulated | • US clients are unaccepted |
| • Multiple trading platforms to choose from | • Limited customer support availability on weekends |
| • Competitive spreads on forex pairs | |
| • Low minimum deposit requirement |
Is FXCM Legit?
FXCM is a legitimate broker with a long-standing reputation in the industry. The company is regulated by top-tier financial authorities, such as the FCA in the UK, the ASIC in Australia, CYSEC in Cyprus, and ISA in Israel, which ensures that it operates under strict financial and ethical guidelines. FXCM also has a solid track record of handling client funds in a secure and responsible manner.
How are you protected?
FXCM provides negative balance protection and offers its clients access to segregated accounts, providing additional security measures. More details can be found in the table below:
| Protection Measure | Detail |
| Regulation | ASIC, FCA, CySEC, IS |
| Segregated Funds | ✔ |
| Investor Protection | Up to £85,000 |
| Negative Balance | ✔ |
| Financial Audit | ✔ |
| Insurance | ❌ |
Our Conclusion on FXCM Reliability:
FXCM is a well-regulated and reputable broker with a long-standing history in the industry. The company is regulated by top-tier financial authorities and has multiple licenses, demonstrating a commitment to client protection.
Market Instruments
FXCM offers trading in five major classes of tradable assest, including forex, shares, indices, commodities, and cryptocurrencies, which provides traders with varying interests and strategies a broader portfolio.
Account Types
FXCM seems to only offer a single live account type. Their website does not reveal specific info on account types. However, it offers demo account options. FXCM's demo account, elaborately, provides a realistic trading experience with access to live market prices across multiple asset classes. Traders can receive $20,000 in virtual funds to practice executing buy and sell orders on FXCM's user-friendly trading platform, available 24/5. This risk-free environment enables traders to hone their strategies and gain confidence before transitioning to a live funded account.
Leverage
FXCM offers several leverage options for trading Forex (FX) and Contracts for Difference (CFDs), depending on the account equity. For equity less than $5,000, traders can access up to 1000:1 leverage for both FX and CFDs. Accounts with equity between $5,000 and $50,000 are eligible forup to400:1 leverage on both FX and CFDs. Accounts with equity greater than $50,000 can leverage up to 100:1 for FX and up to 200:1 for CFDs.
Trading Platforms
FXCM offers a comprehensive platform suite designed ffor various trading needs:
Trading Station: Proprietary advanced platform
TradingView: Powerful charting and analysis
MetaTrader 4: Industry-standard user-friendly platform
ZuluTrade: Social trading, copy successful strategies
Capitalise AI: AI-powered automated trading and portfolio management.
Deposits & Withdrawals
FXCM welcomes several payment methods, including Bank Transfer, Visa, MasterCard, Google Pay, Neteller, and Skrill.
FXCM minimum deposit vs other brokers
| FXCM | Most other | |
| Minimum Deposit | $50 | $100 |
Customer Service
FXCM offers 24/5 customer support viaWhatsApp and email. They also have a Help Center section on their website to provide answers to common questions. FXCM provides localized support in various languages and countries, and they have a team dedicated to handling account-related inquiries.
Conclusion
In conclusion, FXCM is a well-established and reputable broker that offers a range of trading instruments and account types with competitive spreads and commissions. The broker's trading platforms are user-friendly and offer advanced features for traders of all levels. Additionally, FXCM provides educational resources and excellent customer support, including 24/5 support in multiple languages.
However, FXCM is not available in all countries, clients from the USA, Canada, United Kingdom, European Union, Hong Kong, Australia, Israel or Japan are not accepted.
Frequently Asked Questions (FAQs)
| Is FXCM regulated? |
| Yes. It is regulated by ASIC, FCA, CySEC, and ISA. |
| Does FXCM offer demo accounts? |
| Yes. |
| Does FXCM offer industry-standard MT4 & MT5? |
| Yes. Not only MT4, but also Trading Station, TradingView, ZuluTrade, and Capitalise AI. |
| What is the minimum deposit for FXCM? |
| The minimum initial deposit to open an account is $50. |
| Is FXCM a good broker for beginners? |
| Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
Risk Warning
Trading online carries inherent risks, including the potential loss of your entire investment. It's essential to recognize that online trading may not be suitable for everyone, and individuals should carefully consider their risk tolerance before participating. Additionally, please be aware that the details provided in this review are subject to change as companies update their services and policies. Therefore, it's advisable to verify the most up-to-date information directly with the company before making any trading decisions. Ultimately, the responsibility for utilizing the information in this review lies solely with the reader.
