FXCM Review 2023: Pros, Cons, and More All Things Money

FXCM Review 2023: Pros, Cons, and More All Things Money

Moreover, I found the user interface to be streamlined and simple. The wide selection of https://traderoom.info/fxcm-an-overview/ powerful trading platforms is one of the biggest selling points of FXCM for me. These include the brand’s proprietary Trading Station as well as the popular MetaTrader 4, TradingView, and Capitalise.ai.

Trading Hours

FXCM has proven itself as a reliable and secure platform for both new and experienced traders. XCM offers one live account with trading costs included in its variable spreads. This means that the spread will fluctuate and get wider or tighter depending on trading volume and market volatility. Overall, at 13 USD per lot traded, FXCM’s trading costs are higher than the industry average. The trading costs on the EUR/USD at other good brokers tend to be around 9 USD per lot traded.

Available Assets and Leverage

This is available from the traders area within the trading platform. The broker aims to offer some of the cheapest spreads on the market and cuts its prices for active traders or institutional investors. You will probably need to pay commissions based on the base currency used in your trading account, and this varies between different trader accounts. You may also be charged a commission for currency exchange by your debit or credit card provider and can find out more from your bank or card provider. This Forex Capital Markets (FXCM) review gives a comprehensive but succinct overview of the FXCM forex, spread betting and CFD trading platform.

And since I count anything under 0.1 seconds as good, this is a big strength of this broker. This allows for lightning-fast execution and very tight spreads. Additionally, this section has an introduction to the Trading Station platform on both desktop and mobile.

The FXCM Trading Station platform is available for desktops, in web format for Macs, and for mobile devices. It is a powerful platform and mobile users benefit from quick and easy access to global forex markets from any WiFi enabled location. You can download the Trading Station app from the Apple App Store or Google Play.

Over the past 26 years, FXCM has become one of the best online brokers available to the public. Yes, based on your detected country of FI, you can open an account with this broker. Yes, FXCM is regulated by several financial authorities, including the FCA in the UK, ASIC in Australia, the CySEC in Europe, and the FSCA in South Africa. It is regulated by multiple tier-one financial authorities, including the FCA and ASIC, which adds credibility and oversight to its operations. The trading hours for CFDs on stocks, indices and commodities may vary depending on the specific market. For example, indices like the S&P 500 or the FTSE 100 will have trading hours that correspond to the opening hours of the underlying stock exchanges.

Testing FXCM’s Customer Support

• Traders can still utilize the renowned MT4 for Forex trading while benefiting from FXCM’s enhancements, including support for Expert Advisors, scalping, and the ability to trade as low as 0.01 lot sizes.
• All content on comparebrokers.org is intended for educational purposes only and should never be considered financial advice.
• All traders can set aside all their concerns when trading using FXCM.
• However, trading conditions vary depending on the specific entity under which the broker operates.
• Inexperienced traders can open a virtual portfolio account in order to better understand the aspects of Forex trading and test out some of the company’s features before signing up for a live account.
• FXCM’s long-standing presence in the industry, coupled with its transparent operations and compliance with international financial laws, further solidifies its credibility.

The broker offers securities to trade via CFD trading or Spread Betting from various asset classes, including forex, commodities, indices, shares, cryptocurrencies, and baskets (ETFs). However, the broker does not offer options and government-yield bonds. If you are interested in those asset classes, you might want to consider AvaTrade instead. When you move money in your trading account by the bank account, a deposit fee can be charged by the broker. Most brokers don’t charge too much money for this particular operation. Aside from trading charges, online agents also charge non-trading fees.

Use the Capitalise.ai app on your iPhone or Android to manage your trades on the fly; edit, halt or automate new trading methods. ZuluTrade is one of the top social trading platforms, but not quite on par with the industry leading eToro. Clients that are interested are sent to the ZuluTrade portal, where they may select from a variety of signal sources and automatically duplicate their trades. Just keep in mind that there is no guarantee on how good or bad these signals will perform. Past performance is by no means a guarantee of what will happen in the future. FXCM offers a nice product portfolio covering various asset classes, including forex, commodities, stocks, indices, cryptocurrencies, and baskets of different instruments.

This ensures compliance with regulatory requirements and facilitates a smooth funding experience. You can place your trades in a secure environment since FXCM is licensed and regulated by several regulators. Residents of the above countries can search for an FXCM alternative that is available in their country of residence so they can also enjoy the exhilarating world of online trading.

The account has a minimum notional volume requirement of $10 million monthly. FXCM clients will have access to the client service portal through their live trading account credentials. FXCM offers a range of secure funding options including Credit/Debit Cards, Bank Wire transfers plus Skrill, and Neteller. In regards to withdrawals, withdrawal requests are submitted online. A withdrawal request can be submitted online by selecting your withdrawal method and clicking “Submit”.

Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score. FXCM offers two VPS solutions, charged at 30 USD or a currency equivalent per month. Traders who exceed 500K USD notional trading volume for three consecutive months will have the fee reimbursed. FXCM Apps include different expert advisors, apps, and indicators, some of which are free. The FXCM App Store has add-ons for all the supported platforms and is broken down into the following areas.