FXCM Review

Why choose FXCM

Well-established broker with a wide range of trading instruments and advanced trading tools.

Pros

  • Competitive spreads.
  • Multiple trading platforms.
  • Strong regulatory framework.

Cons

  • Inactivity fee after 12 months of dormancy; higher forex fees compared to some competitors.
FXCM

FXCM

Fee Level:

Medium

Inactivity Fee:

Medium

Index CFD Fee:

Medium

Investor Protection:

Up to £85,000 under the Financial Services Compensation Scheme (FSCS).

Mobile Platform:

Visit FXCM

Provides a comprehensive trading environment with advanced tools.

Pros

  • Multiple trading platforms including Trading Station and MetaTrader.

Cons

  • Inactivity fee applies after 12 months of inactivity; slightly higher forex fees.

Utilizes negative balance protection and segregated client funds to ensure client asset safety.

Pros

  • Strong regulatory framework and security measures, including SSL encryption and segregated client funds.

Cons

  • Limited investor protection for clients under certain regulatory jurisdictions.

FXCM offers bank wire, cards, Skrill, Neteller, and local bank transfers. Deposits are instant, withdrawals take 1–2 business days. No deposit fees, but bank transfer withdrawals may have fees.

Pros

  • Fast withdrawals, multiple payment options, secure transactions.

Cons

  • Fast withdrawals, multiple payment options, secure transactions.

FXCM supports fully digital account opening, with approval typically completed in 24 hours.

Pros

  • Fast onboarding and access to various account types.

Cons

  • Fast onboarding and access to various account types.

FXCM offers the FXCM Trading Station mobile app, which provides a powerful and intuitive trading experience. It includes advanced charting, real-time news feeds, and economic calendars.

Pros

  • Proprietary app with advanced features, real-time analysis tools, clean interface.

Cons

  • Can be resource-heavy on some devices, steep learning curve for beginners.

FXCM provides multiple desktop platforms, including Trading Station, MetaTrader 4 (MT4), and NinjaTrader. The Trading Station platform offers advanced trading tools and charting capabilities, making it suitable for both beginner and experienced traders.

Pros

  • Multiple platform choices, excellent analytics, advanced order execution.

Cons

  • Trading Station may have a learning curve for first-time users.

FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, and related services. They offer a wide range of products, including forex pairs, shares, indices, commodities, and cryptocurrencies, catering to both novice and experienced traders.

Is FXCM a regulated broker?

Yes, FXCM is regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. This regulatory oversight ensures that FXCM adheres to strict financial standards and practices.

What are the spreads and commissions at FXCM?

FXCM offers competitive spreads and transparent pricing. For example, Active Trader account users can access spreads as tight as 0.2 pips on major currency pairs. Standard accounts typically have slightly wider spreads but do not charge additional commissions. It's important to review the specific trading costs associated with your chosen account type and instruments.

How can I deposit funds into my FXCM account?

You can deposit funds by logging into MyFXCM.com and selecting the "Deposit" option. FXCM offers various funding methods, including credit/debit cards, bank wire transfers, and e-wallets. Processing times and available methods may vary depending on your region.