To open an account click on the ‘open an account button and fill out your country of residence, email address, account type, and platform type. Now you can check your trading handing hand by practicing trading in a demo account with 0 investment. A trader can easily get started with any of the platforms of FXCM within a few minutes. And the steps leading to access to the platform only take a few easy steps. FXCM is a market-making broker with a long history in the market, having been founded in 1999 in New York.
The choice of trading platforms is a stand-out feature for FXCM. Costs are in-line and tariffs improve considerably for those trading sufficient volumes to qualify for an account upgrade. Looking past the headline bid-offer spreads it is also clear to see that the quality of the execution was very high with the firm able to boast about impressive slippage data reports. The regulatory framework is hard to beat and the customer support is of a very high level. The trading experience, and choice of three state-of-the-art platforms is what will appeal to many.
- On the upside, the broker offers various trading platforms, good customer support, and various trading tools.
- It offers end-to-end execution and liquidity solutions for retail brokers, hedge funds and emerging market banks.
- FXCM has low trading costs overall and no withdrawal, account, or deposit fees.
- With their history laid to rest, FXCM now offers great prices and a quality education suitable for most traders.
When a trader registers under an FXCM broker he explores different modern and exciting trading platforms. 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. If you are looking for the best possible spreads, then Active Trader is the best choice. 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.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
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You can change your regular trading account into a swap-free version by filling in a simple application form. Instead of charging swaps for keeping positions open overnight, FXCM increases spread markups and adds commission fees. The list includes the S&P 500 (US500), US30, Fra40, Ger30, JPN225 and more.
FXCM was launched in 1999 and currently operates in over 50 countries. It is among the most revered brokers across the globe and is regulated in all jurisdictions by top-tier regulatory bodies. The regulators include the UK Financial Conduct Authority (FCA), the Australian Securities and Exchange Commission (ASIC), and the South Africa Financial Sector Conduct Authority (FSC). With over 20 years of experience, FXCM is one of the oldest spot forex and CFDs brokers.
Since its launch, FXCM has managed to build upon its comprehensive and state of the art education centre. The broker has won various awards for trader education, among them the Best Educational Materials in Forex and CFDs award by Investment Trends. Not only that, but the regulatory bodies which oversee their operations are as good as they get. Exact terms depend on domicile, but the regulators involved include the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission. This product is unique to FXCM and is formed of a combination of cryptos, Bitcoin (BTC/USD), Ether (ETH/USD), Ripple (XRP/USD), Litecoin (LTC/USD) and Bitcoin Cash ABC (BCH/USD). The Live Pricing Widget details the different markets on offer and also the current prices.
FXCM offers 24/5 award-winning customer services with customer support contactable via live chat, email, phone and even SMS text message. If you wish to call FXCM, there are 42 country-based numbers one can call from. Countries range from South Korea, United Arab Emirates to Venezuela. You can choose from among several excellent trading platforms and can access copy trading through FXCM’s social trading platform and automated trading via FXCM Apps and MetaTrader4 (MT4). If you want to trade assets other than forex, FXCM also offers CFD trading in shares, metals, oil, commodities, indices and cryptocurrencies. There is a very high degree of risk involved in trading securities.
The charting tools are outstanding and very customizable with more than 50 available indicators. There are plenty of available platforms at FXCM such as Seer Trading Platform. Seer is made for building, optimizing, back-testing, and deploying automated trading solutions. The addition of this platform is a great boon for tech-savvy traders with an interest in algorithmic trading. If you want to start practicing without making a deposit, you can open up a free demo account. This lets you assess the broker’s research and educational resources and practice trading.
Final Thoughts on FXCM review
To date, FXCM accounts for billions of dollars of its trade transactions monthly. FXCM’s early foundation helped it to become one of the more popular forex brokers online. It is worth noting that most of the educational materials provided by this broker are only available to registered traders. While basic introductory materials are accessible before registration, most of the advanced materials are only accessible to Standard and Active Trader account holders. Trading webinars, on the other hand, cover market updates and popular trading subjects. They are provided twice a week and are recorded for future reference.
Is FXCM safe for traders from Canada?
70% of retail investor accounts lose money when trading CFDs with this provider. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. Finally, some of FXCM’s educational content is only available if your balance exceeds certain minimum thresholds.
Algorithmic Trading ✔
Friedberg Direct is a member of the IIROC which is the relevant financial authority of Canada overseeing financial services in the country. And lastly, advanced and modern designed trading tools are the center of attraction for many passionate traders. If a new trader opens an account on the ZuluTrade platform, he can opt for copy trading by selecting any expert market strategist.
As mentioned earlier, FXCM provides a dedicated account manager to guide beginners in the first stages of trading. Unlike the Trading Station and MT4, the NinjaTrader is only available as a web-version. However, users can access the platform through the CQG mobile app. Traders are encouraged to contact FXCM customer service to learn more about this option.
FXCM Tradable Assets
This also challenges brokers who offer zero spreads but never fill on the order. The Individual account offers access to trading various assets. Overall, we recommend that you go to the broker’s website and chat with their customer support and see other offerings they have to know if you would like to trade with them.
FXCM Education
FXCM worked its way back to the safe zone and followed the regulations set by the regulatory bodies across the globe and gave itself a shot for redemption. Since then, FXCM operated with a clean slate and offered fxcm the public safe and reliable forex services aimed at harnessing the best interests of its traders. Tighter competition nowadays puts FXCM in the middle of the race for the best forex brokers online.
Trading Station desktop (not to be confused with TradeStation) is FXCM’s main platform. It provides a good trading experience for all kinds of investors, be it beginners or advanced traders. I usually speak to the German customer support but as I am English speaker they also speak very good English. Sanjay always tried to fix my things (If there is anything to fix). FXCM provides customer service via toll-free numbers around the world in 42 countries in North and South America, Asia, the Middle East and Europe.