This simplified trading process makes the platform a great tool for beginner traders. The company provides global traders with access to the world’s largest liquid market through innovative trading tools, and the support of excellent trading educators while all operating under strict financial standards. These stats show that FXCM completes your orders with no slippage more than 60% of the time. When comparing the spreads to other brokers, FXTM at first glance appears to have only average spreads.

  1. This simplified trading process makes the platform a great tool for beginner traders.
  2. The majority of clients will use their Standard Account, which is designed for retail traders’ high volume traders will prefer their Active Traders account to save on costs.
  3. You can open a live forex trading account quickly and relatively easily, where firstly you can sign in for a Demo account and then upon confirmation of your residence and compliance with the application start Live trading.
  4. Cryptocurrency trading is available at FXCM through CFDs, but not available through exchange trading the underlying asset.

The leverage you are able to trade with depends on whether you sign up to the UK, European, Australian or South Africa entity. From the moment you submit and confirm the request to withdraw money from your account the accounting department typically processed and confirms withdrawal within 2 business days. Nevertheless, allow your payment provider to add on some working days to process the transaction as well. Further on, when you wish to withdraw funds, you may use the same payment methods. There are no fees for withdrawals by credit card or debit card, however, a $40 withdrawal fee will be charged for international Bank Wire requests. For the globally presented offices, each of them as a branch of Forex Capital Markets Limited follows the country’s financial authority and is licensed accordingly.

So desktop platforms are available for all offers as well, while Trading Station is often the preferred choice among active traders, however, is the product with no matter of experience as it has a clear market vision and friendly interface. The range of products available to you will depend on the entity of your trading account. The advanced range of market instruments offered by FXCM includes popular markets and other exotic pairs, as well as offering Forex, Indices, Commodities, Cryptocurrencies, and Spread Betting that is available for UK and Ireland residents.

The FXCM Group is headquartered in London (UK), offering dedicated customer support service regardless of clients’ location through a global chain of offices situated in Germany, Australia, France, and Italy. Additionally, through the various affiliated offices, the broker provides access to the residents in Greece, Israel, and South Africa, thus becoming a truly global broker. On the negative side, which we think are not so many, there is a withdrawal fee for Bank Wire transfers in some regions and the support is not available on a 24/7 basis.

What is the minimum deposit for FXCM account?

This includes an economic calendar, live forex charts, and the latest market news. Additional trading tools are available such as a market scanner and market data signal however to get to the really useful information such as trading signals, technical analyser and trading analytics requires a sign-up with FXCM. Overall, due to the strong background of the broker, years of successful operation, and reputation in the financial world our financial experts find FXCM broker a reliable and safe trading environment. Active or high-volume traders can enjoy their benefits with various available interfaces, good and competitive value spreads, or offerings with advanced technical features. Beginner traders can count on company tool support while building their own strong trading strategy.

FXCM Standard Account (Available To All Clients)

39 currency pairs, for example, would put FXCM at the lower end of the broker for currency choices. The FXCM Trading Station forex platform is generally hard to fault, it has a very user-friendly design and comes with has become FXCM’s hub for investment advice. One of the key features of the platform is the free professional charting tool fxcm canada review known as Marketscope 2.0 which consists of price alerts, charts and a wide selection of indicators. One of the key features of Marketplace is the ability to open and manage all your trades directly from the charts. This means you can perform all your trading analysis, opportunity identification and order execution all in one place.

FXCM Range Of Markets (CFDs & Forex)

Besides, Free Online Live Classroom is available for all those who are interested, which all in all enlarges and creates fantastic opportunities for individuals interested in trading and gives a good way to start from the right way. Our experts find FXM a highly reputable broker since it’s authorized and regulated by some of the most rigorous regulators FCA and ASIC. It is considered low risk since these regulators offer compensation schemes and secure transactions. FXCM is an online trading provider of Forex and CFDs trading of Stocks, Commodities, Indices, Cryptocurrencies, and spread betting (available for UK and Ireland residents only). The company headquarters are in London, UK where they’re regulated by both The Financial Conduct Authority (FCA) as well as many other strict regulatory authorities around the world including Australia (ASIC) and South Africa (FSCA). Most deposit methods take up to 1 business day to complete however bank wire can take 1-5 working days.

Who Is FXCM Review Recommended For?

Compare Forex Brokers was created to help Australian forex traders find the right broker to suit their trading requirements. Our forex broker comparison tables were constructed from information from providers’ websites or actual trading accounts. We try to update our forex broker comparison tables periodically (including our FXCM reviews) but if you have any suggestions or areas that may need updating please feel free to contact the owners via our contact us form. Experienced Australian forex traders that require a very specific niche forex platform should consider FXCM. Those that require high leverage or are looking for low spreads/fees should review our best Australian forex broker comparison table and a provider like Pepperstone for advanced traders.

Spreads with FXCM’s active trader account are cheaper than they may appear when you compare with other brokers as FXCM off lower commission fees. The overall lowest spreads are offered by IC Markets in our head-to-head comparison. Our experts find FXCM a good reliable broker with lots of benefits and appealing conditions. The broker has a worldwide reputation for offering an extensive range of trading conditions.

The company platform offers one of the best selections in terms of tight spreads and low prices, which are balanced through your single account with them. They also provide professional education and research sections available for free. FXCM, also known as Forex Capital Markets, is a global forex provider trading with various FXCM entities in the UK, Europe, Australia and South Africa. Our FXCM review concluded that FXCM has a simple but helpful account type structure, average spreads, a hybrid trading execution model and a good range of trading platforms.

Based on our Expert finds, FXCM provides great trading conditions for Forex and CFDs. They offer a global platform that is suitable to trade internationally, including European clients as well as beginning traders looking for technical solutions. The range of markets available with FXCM is quite broad however you can find other brokers that offer more choices for each financial instrument.

In simple words, leverage is a credit shoulder that is given by the broker to your trading account with the purpose to multiply the trading size of your positions. The FXCM LTD is headquartered and regulated in the UK by the Financial Conduct Authority. The broker claims to offer some of the tightest spreads on the market when it comes to trading BITCOIN. Seeing that the broker has suitable and favorable offers for both trader categories, all clients can benefit by signing with FXCM.

Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. Withdrawal can be done by card, Bank Wire or Skrill, Neteller and in Australia by Electronic Funds Transfer and Union Pay. While there are no withdrawal requirements, there are fees when using Bank Wire and Union Pay.

Also, the broker might not be suitable for futures and options traders due to the lack of these assets. FXCM offers 24/5 award-winning customer services with customer support contactable via live chat, email, phone and even SMS text message. Lag time, which naturally occurs due to the time taken between placing your order and completing your order, can see prices change. FXCM can be compensated in several ways, which includes but are not limited to adding a mark-up to the spreads it receives from its liquidity providers, adding a mark-up to rollover, etc. Commissions with most other brokers are $7.00 round-turn, while Active Traders can be as low as $5 round-turn. If you subtract 0.2 pips from each spread, then the spreads appear to be more competitive.

Limited is regulated by the ASIC, FXCM Germany is partially regulated by BaFin, and FXCM Italy is subject to the control of CONSOB and FSCA (Check out the FSCA Regulated Infinox Capital Review) authorization in South Africa. While there is a wealth of material for forex, education is lacking when it comes to CFD education. An FXCM dealing desk determines the best execution means which can result in FXCM acting as a market maker or using a dealing desk.

FXCM add an extra 0.4 pips to the spread for Standard accounts and a $2.00 commission per lot (per side for commission-based accounts in place of overnight fee or swap rates. If you are a high-volume investor, then the Active Trader account may be for you. This account offers FXCM’s lowest spreads with the added benefit of discounted commission, dedicated support, and depth of market. The majority of clients will use their Standard Account, which is designed for retail traders’ high volume traders will prefer their Active Traders account to save on costs. Other account types available include an Interest-free account, which is designed for Islamic traders who can’t pay swaps. FXCM allows leverage trade of Forex and CFDs, this tool brings an advantage even on the smallest market moves.