FXPCM Review: Is FXPCM A Good Broker For You?

FXPCM Review: Is FXPCM A Good Broker For You?

Before becoming our leading analyst, Skerdian served as a trader and market analyst at Saxo Bank’s local branch, Aksioner, the forex division and traded small investor’s funds for two years. Some research tools are available but there is not assistance for beginner traders in the sense of educational tools. With FXPCM customers have access to a Research link on the website where you will find an economic calendar, economic news, market depth tools, forecasts and analysis, a glossary and a number of articles. This service is offered 24/5 and clients can be helped in the English, Arabic, Chinese, Indonesian, and Russian fxpcm languages. FXPCM only charge commission on the ECN PRO and the Digital Currencies accounts of $6 on a roundtrip trade.

Is FXPCM or FXCM better in providing the trading instruments?

It is available for desktop, Mac, Android, Tablet, iPhone, iPad, and web. Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile. The platform is user friendly and easy to navigate in whether you are a beginner or an advanced trader. It is available for desktop, Mac, Android, tablet, iPhone, iPad, and web. Deposits and withdrawals can only take place between accounts carrying the same name as the initial one used to open the account with. The spread of a currency pair is the difference between the bid and the ask rate.

Customer reviews about FXPCM

As for such accounts as Elite, Zero Spread, ECN Pro, and Digital Currencies, the company charges a fee of $ 16 per standard lot. Swap-free accounts are also offered to clients of the Muslim faith in accordance with Sharia Law on finance. According to research recently done, FXPCM is an established forex broker company in the United Arab Emirates (UAE). I am an expert in brokerage safety, adept at spotting scam brokers in mere seconds. My guidance, rooted in my firsthand experience with brokers and an in-depth understanding of the regulatory framework, has safeguarded hundreds of users from fraudulent brokerage activities.

Customer support at FXPCM

These trading platforms are offered in English, Arabic, Chinese, Indonesian and Russian. A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

Is FXPCM a recommended forex trading broker for experts and beginners?

Leverage enables a trader to get a much larger exposure to the market the person is trading than the amount deposited to open the trade. Leveraged products, such as forex trading, magnify a trader’s potential profit – but also increase the potential loss. Online Reviews can help grasp the online presence and reception of brokers which can be considered as a critical guiding factor before investing. The following are some of the reviews about the trading experience in FXPCM. FXPCM is one of the oldest brokers in the industry with a decent reputation.

EOS is geared to the needs of high-frequency traders, who require ultra-low latency platforms to trade productively and probably. EOS is the new DGCX technology platform and provides the ability to offer contracts in multiple currencies including UAE dirhams. In the future, the new platform will also allow DCCC, a fully owned clearing corporation of DGCX, to provide multi-currency settlement facilities.

• The trading platform is essential as you can’t execute a trade without it.
• Besides lots of currency pairs, FXPCM also offers some instruments you would like to trade on, such as Forex, Gold & silver and CFD for your best choice.
• Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account.
• Of course, there are many fake opinions and satisfied customers do not always leave reviews, but there are still some we have to pay attention to.
• This facility enables traders to get a larger exposure to the market than the amount they deposited to open a trade.
• Before becoming our leading analyst, Skerdian served as a trader and market analyst at Saxo Bank’s local branch, Aksioner, the forex division and traded small investor’s funds for two years.
• However, the Trading Station software for mobile phones or tablets lacks a watch list.

In addition, regardless of the trading platform used, FXPCM can charge monthly payments if an account has been inactive for 30 days. It also charges a service fee of $4 per lot in a day for positions held for more than a week. Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions.

He is sure that this is the best company based on his experience due to good customer support and quick servers. However, as the broker provides bare spreads without any commission on the Elite accounts, it charges a nominal commission of $ 6 on a roundtrip trade. However, traders can still choose their ideal brokers by the type of their spreads.

• Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.
• FXPCM does not charge fees for deposit or withdrawal funds but if your bank charges a fee it will be debited to the trader’s account.
• These trading platforms are offered in several languages which include English, Arabic, Chinese, Indonesian and Russian.
• This website is using a security service to protect itself from online attacks.
• In comparison, FXCM provides trading with MetaTrader 4 (Limited with 30 days), Trading Station II (Limited with 30 days), MirrorTrader, NinjaTrader with the support of .
• For the trading platform, MetaTrader 4 is the standard choice for every trader.

For example, on a 1% margin a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal or more than 100% to be able to open new trades, otherwise your trading account will be fully hedged. Margin is the collateral to cover any credit risks that may arise during trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you need to have enough funds in your trading account to ensure sufficient margin.

FXPCM offers the choice of demo accounts on all its live account types except for the 100 Leverage and Digital Currencies account types. It does not state on the website how much virtual money is provided that sport real-time prices and trading conditions. They provide a total of 60 indicators with ultra zooming features to read the position accurately.

These demo accounts are free to open and can be used by traders for a period of 30 days. Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data. Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.