FXCM Review 2025

Pros

• You can fund your account through several methods such as bank cards, Apple Pay, and PayPal. Processing is instant.
• FXCM now offers 24-hour stock CFD trading via MetaTrader 4 platform.
• FXCM provides 4 charting platforms plus additional expert software for advanced traders, such as QuantConnect, AgenaTrader, and Sierra Chart.
• The Trading Station terminal is suitable for traders seeking a comprehensive solution for their short-term and automated trading approaches.
• FXCM is a globally respected trading company, thanks to its licensure from FCA, ASIC, CySEC, and FSCA and a solid 20-year business track record.

Cons

• Traders do not have the option to choose between different retail accounts, and there are no options for Cent/Micro accounts.
• FXCM primarily caters to proficient traders, but unfortunately, they do not provide managed accounts.
• The live chat support might not be as quick or dependable as that of leading competitors.

FXCM is a solid choice for forex, spread betting, and CFD trading. It offers a platform with comprehensive features suited for various trading needs. For more insights on top brokers, visit Trading.com.

Trading Platform

FXCM’s platform is user-friendly, and its FAQs can resolve most common questions. Their extensive education center delivers trading tips through videos, seminars, and webinars. Beginners should consider a Demo account to explore forex trading risk-free.

Opening An Account

Opening an account with FXCM is straightforward, compatible with desktops, Macs, and mobile devices. Start trading with a £/$/€50 deposit. Live account holders receive real-time updates, while FXCM analytics offer trading insights.

The Active Trader account requires a 25,000 deposit in any currency. It provides lower commissions and access to advanced trading resources.

MetaTrader 4

FXCM provides two primary platforms: FXCM Trading Station and MT4. The FXCM Pro account caters to small hedge funds and retail brokers for wholesale execution. FXCM Prime is intended for high- or mid-frequency funds.

Assets/Markets

FXCM offers diverse trading options. You can explore Forex pairs—up to 43, depending on your location. The platform also supports CFDs, with the variety including Australian shares, commodities like oil and gold, and ETF CFDs. If you’re interested in cryptocurrency, CFDs are available in certain regions. Additionally, you can trade global stock indices CFDs. For those into automated strategies, algorithm trading is at your disposal.

Spreads and Commission

FXCM offers attractive spreads, like EUR/USD at 0.74 pips and GBP/USD at 1.05 pips, as of early 2024. They don’t charge for deposits, and standard traders enjoy no commission on trades, with fees built into the spread. Overnight costs apply to positions held past 5 PM Eastern Time. Active Trader accounts feature reduced fees but include a commission per trade plus spread costs. Commission charges depend on the base currency of your account, and credit or debit card providers might charge extra for currency exchanges. FXCM, appealing to active traders and institutional investors, provides some of the lowest market spreads.

Leverage

FXCM offers leverage under European Securities and Markets Authority rules. The maximum is 400:1 for markets and 30:1 for major forex pairs. For minor pairs, major indices, and gold, leverage is 20:1. Non-major indices and other commodities have a leverage of 10:1. Cryptocurrencies come with a lower leverage of 2:1. CFDs involve significant risk due to leverage. Learn more about leverage and margins in our guide.

Company Details

FXCM, established in 1999, provides traders access to highly liquid global markets. Acquired by Leucadia Investments in 2015, it operates under Jefferies Financial Group. FXCM is regulated by the UK’s Financial Conduct Authority and similar bodies in Australia and South Africa. They have offices worldwide, including Berlin and Sydney. FXCM serves over 130,000 global customer accounts, winning several industry awards. Both individual traders and institutional investors use their online platform, supported by numerous global affiliates to meet customer needs.

Mobile Apps

FXCM’s Trading Station platform is available for desktop, web, and mobile devices. It’s powerful, providing traders easy access to global forex markets on the go. You can download the app from the Apple App Store or Google Play.

The mobile platform mirrors most Trading Station and MetaTrader 4 (MT4) features. However, smaller screens require frequent scrolling and tab navigation, slowing the experience. FXCM warns that mobile trading may risk order duplication or price delays. Thus, traders should familiarize themselves with all mobile features before regular use.

Additionally, a wide range of free apps from the FXCM catalogue can refine your trading strategies, accessible within the platform’s traders area.

Payment Methods

FXCM offers multiple funding options for your account. You can use bank or credit cards for quick deposits, usually processed on the same day. Bank wires are also an option, with local transfers taking 1-2 days and international ones requiring 3-5 days. Supported wire methods include CHAPS, SWIFT, BACS, and SEPA.

Payments via Skrill and Union Pay typically take 1-2 days, while PayPal, Apple Pay, and Google Pay offer faster deposits within 30 minutes. For withdrawals, use the same methods through the MYFXCM dashboard, taking similar timeframes.

Remember, debit/credit card withdrawals are limited to the total amount you deposited. For larger withdrawals, use bank transfers instead.

Demo Account

FXCM is great for beginners with its Demo account, offering $20,000 in virtual funds. This allows you to practice trading anytime, five days a week. Choose your preferred platform for Demo trading and access the same tools and education as regular traders. It’s a fantastic way to learn about forex and CFDs if you’re new to finance.

Deals and Promotions

FXCM excels in providing a wide array of free apps, which serve as an excellent incentive for traders. Although they don’t offer promotional deals, these apps are a strong draw. Additionally, FXCM features the ZuluTrade platform, enabling autotrading based on signals from your chosen traders.

Regulation and Licensing

FXCM is a reliable choice for traders, regulated by the FCA in the UK and CySEC in the EU. Though they no longer serve the US, they hold ASIC authorization in Australia and operate in South Africa. Retail client funds are securely held in separate bank accounts, providing safety against business insolvency. Traders may claim compensation up to £50,000 in specific cases. Remember, trading carries risk, so manage leverage wisely.

Additional Features

FXCM is an excellent choice due to its vast educational tools, including a live classroom and video tutorials, perfect for those keen to learn. The Trading Station platform offers email alerts and weekend data, while the automated MT4 platform supports Expert Advisers for informed trading decisions. Advanced traders will appreciate the robust charting tools available on mobile. Though it lacks a daily news blog, FXCM bundles ample financial news within its educational materials. Social and copy trading are facilitated through ZuluTrade, allowing users to mimic successful traders’ strategies based on performance and risk, ideal for beginners.

Account Types

FXCM provides several trading account options:

• Standard accounts for retail customers
• Active Trader accounts for high-volume traders, offering lower commissions
• Professional accounts for those with proven trading expertise

Benefits

FXCM stands out for its comprehensive resources and education, which are ideal for traders wanting to learn and grow. Their service is dependable on both desktop and mobile, offering flexibility and ease of use. With FXCM, you can explore social and copy trading through ZuluTrade, and take advantage of demo accounts to practice. They provide numerous algorithmic tools and access to a wide range of apps, catering to diverse trading needs. You can also trade Australian stock CFDs and benefit from an award-winning brokerage. Enjoy trading across six asset classes with low fees for standard accounts and a competitive pricing structure for Active Trader accounts. FXCM is globally regulated, giving you peace of mind about its reliability and compliance.

Drawbacks

FXCM has some downsides:

• No managed accounts are offered

Trading Hours

FXCM offers flexible trading hours that vary by product. Forex trading starts Sunday at 5:00pm ET and closes Friday at 4:55pm ET. CFD trading aligns closely with market times, which you can find on FXCM’s website.

Contact Details/Customer Support

FXCM offers support through several channels. You can reach them by WhatsApp at +44 7537 432259, or email at info@fxcmmarkets.com. Their postal address is 20 Gresham Street, 4th Floor, London, EC2V 7JE, UK. They also provide Live Chat support on their website and have an email contact form available.

Safety and Security

For FXCM clients, securing platform access is essential when opening an account. Traders can boost security by signing up for a virtual private server, especially if they trade varying minimums monthly.

Overall Verdict

FXCM impresses us with its great service. Its educational resources and helpful Demo Account are standout features. For those interested in trading forex and CFDs across diverse assets, FXCM is a strong choice.

*Average Spreads: These are time-weighted averages from FXCM’s Q1 2024 tradable prices. Spreads vary and may be delayed. Information is for reference only; FXCM is not responsible for errors or delays or actions based on this data.

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