FXCM review and ratings

Review in short
Established 1989
Web www.fxcm.com
Location Street 1, XYZ City
Phone +420.123456789
E-mail email
Country Germany
Regulations FCA (UK) Authorised in the European Union (EU) ASIC (Australia) Cysec
Number of instruments CFD 7
Customer support Phone Mail
Deposit from 100 EUR/USD
Spreads 1 EUR/USD * Spread is dated 02.06.2021 12:00, spread amount is subject to change.
Real Stocks
Platforms Desktop Platform (Windows) Web Platform Social Trading / Copy-Trading
Instruments CFD Commodities, Cryptocurrency traded as actual, Options, Forex, ETF, Cryptocurrency traded as CFD, Indicies
Funding methods
Skrill GiroPay Qiwi FasaPay UnionPay BitPay Klarna PaySafeCard PayPal Advcash Cryptocurrencies Poli WebMoney
* Some of the payment methods may not be available in your country.
Risk warning 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Bottom line = About the broker

Established all the way back in 1999, FXCM (officially Forex Capital Markets Limited) is one of the true veterans in the online brokerage industry. The broker is today owned by the publicly traded company Jefferies Financial Group, is headquartered in London, and maintains offices in many parts of the world. Being backed by a large public company is a huge sign of credibility, and traders can therefore be rest assured that this is a broker that will honor its commitments.

Pros

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Cons

› Authorised and regulated by a government agency in several counties.

› Connected with several trading independent networks.

› Free trading tools and educational materials.

› Over a hundred stocks available for trading.

Best for

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Demo account

In terms of available trading instruments, FXCM has a lot to offer, ranging from more than 40 forex pairs, to a number of major stock indices, commodities, cryptocurrencies and specific baskets of combined trading assets. In addition, UK-based clients will have access to spread-betting.

When it comes to trading platforms, FXCM offers its clients more choices than most other brokers. The flagship trading platform is the broker’s own proprietary Trading Station platform, available in versions for both web, desktop, and mobile. In addition, the broker offers the classic MetaTrader 4 (MT4), the popular strategy development platform NinjaTrader, and the auto-trading platform ZuluTrade.

Customer support

Customer support is available via live chat on the broker’s website 24 hours a day on trading days. In addition, the broker has local support phone numbers for 42 countries to serve its global user base. Although many of these numbers are just local phone numbers that redirect the caller to a central customer service center in another country, at least 9 countries also have their own local representatives present.

Lastly, traders can also contact the trading desk directly 24 hours a day on weekdays for placing or otherwise managing orders directly with them. This differs from most other retail trading brokers who typically don’t accept orders placed over the phone anymore, and is certainly an extra benefit that we appreciate.

Investments

Feature FXCM
Currency Pairs (Total Forex pairs) 2
CFDs – Total Offered 2
Options CFD Yes
Share CFDs No
Forex CFD Yes
Commodities CFD Yes
ETF CFD Yes
Indicies CFD Yes
Cryptocurrency traded as actual Yes
Cryptocurrency traded as CFD Yes
Real Stocks Yes
Investments rating 88%

Cost

app.broker.description.cost

Feature FXCM
Average Spread EUR/USD * Spread is dated 02.06.2021 12:00, spread amount is subject to change. 1
Deposit from 100
Account fee No
Inactivity fee Yes
Active Trader or VIP Discounts Yes
Withdrawal fees Yes
Deposit fees Yes
Cost rating 20%

Trading Platforms

app.broker.description.funding-methods

Feature FXCM
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) No
MetaTrader 5 (MT5) No
Currenex No
cTrader No
Trading Platforms rating 100%

Trading Tools

app.broker.description.trading-tools

Feature FXCM
Financial leverage No
Virtual Trading (Demo) Yes
Alerts – Basic Fields Yes
Charting – Indicators / Studies (Total) No
Charting – Drawing Tools (Total) Yes
Charting – Trade From Chart No
Stop-Loss Yes
Finacial Calendar Yes
Daily financial news Yes
Order Type – Trailing Stop No
Trading Tools rating 60%

Mobile Trading

app.broker.description.mobile-trading

Feature FXCM
Android App No
Apple iOS App No
Alerts – Basic Fields No
SMS alerts No
Mobile Trading No
Mobile Trading rating 0%

Research

app.broker.description.research

Feature FXCM
Daily Market Commentary No
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
Social Sentiment – Currency Pairs Yes
Economic Calendar No
Research No
Research rating 50%

Education

app.broker.description.education

Feature FXCM
Has Education – Forex No
Has Education – CFDs Yes
Client Webinars Yes
Videos – Advanced Trading Videos Yes
Investor Dictionary (Glossary) No
Education Yes
Education rating 67%

Major Forex Pairs

app.broker.description.investments

Feature FXCM
GBP/USD No
USD/JPY No
EUR/USD No
USD/CHF No
USD/CAD No
NZD/USD No
AUD/USD No
Major Forex Pairs rating 0%

Commodities

app.broker.description.commodities

Feature FXCM
Gold No
Silver Yes
WIT Oil No
Brent Oil Yes
Coffee No
Cocoa Yes
Soybeans Yes
Rice No
Corn No
Platinum No
Palladium No
Commodities rating 36%

Indices

app.broker.description.indices

Feature FXCM
DAX 30 No
S&P 500 Yes
Nasdaq Yes
Dow Jones Yes
Nikkei Yes
Indices rating 80%

Cryptocurrencies

app.broker.description.cryptocurrencies

Feature FXCM
Bitcoin No
Litecoin No
Ethereum Yes
Ripple No
Neo No
Stellar Yes
Cardano Yes
Tron No
Monero Yes
EOS No
Cryptocurrencies rating 40%

Regulations

app.broker.description.regulations

Feature FXCM
Cysec Yes
ASIC (Australia) Yes
FCA (UK) Yes
Authorised in the European Union (EU) Yes
CFTC Registered (USA) No
FINMA (Switzerland) No
Regulations rating 67%

Support

app.broker.description.support

Feature FXCM
Chat No
Phone Yes
Mail Yes
Support rating 67%

Overall

app.broker.description.overall

Feature FXCM
review and ratings FXCM Review
Overall 45%

Compare

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Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.