Forex Capital Markets, or better known as FXCM, is a retail broker for trading on the foreign exchange and contract for difference (CFD) market.
- Variety of trading platforms
- Great research tools
- Excellent educational materials
- Quite high fees
- A limited selection of assets
The FXCM Group is a great trading company that allows people to speculate in the foreign exchange market, and offers Contracts for Difference (CFD) trading on major indices and commodities, such as gold and crude oil.
The FXCM Group can rightfully be considered a company with a high level of trust since they are regulated in several jurisdictions, including the Australian Securities & Investment Commission (ASIC) in Australia, the Financial Conduct Authority (FCA) in the UK, and Cyprus Securities and Exchange Commission (CySEC).
Our team of specialists in the financial market have conducted detailed testing and analysis of this broker. We have studied all the important aspects, of which you can read below.
Note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM – Who Are They?
The FXCM Group was founded in 1999 and is a pioneer in online forex trading. Previously, their headquarters was in New York, until they later moved to London, UK.
Now FXCM no longer accepts US clients. Beginning in January 2015, through a series of transactions, Leucadia Investments has become the majority economic owner of FXCM. Leucadia Investments is part of the merchant banking arm of Jefferies Financial Group (NYSE: JEF).
Forex Capital Markets Limited (“FXCM LTD”) is an operating subsidiary within the FXCM group of companies. FXCM LTD offers a limited asset selection. The asset selection includes 39 currency pairs, 15 index CFDs, 11 commodity CFDs, and others. The CFDs total selection amount is approximately 300, which makes CFDs the most significant asset class that FXCM offers.
One of the broker’s main advantages is its wide selection of trading platforms, including Trading Station, MetaTrader 4 (MT4), TradingView, Capitalise AI and NinjaTrader. The broker also has a demo account and a feature-rich mobile offering for forex traders. This allows every trader to be in touch with FXCM, no matter where they are.
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Commissions and Fees
| Type | Fee |
|---|---|
| Minimum deposit | $50 |
| Inactivity fee | $50 |
| Withdrawal fee for credit/debit card | $0 |
| Withdrawal fee for Bank Wire | $40 |
| Deposit fee | $0 |
| Overnight fee | Yes |
| Type of Account | Standard | Active Trader |
|---|---|---|
| Minimum deposit | $50 | N/A |
| Leverage | 1:30 | 1:30 |
| Spreads from | 1.3 pips | 0.2 pips |
| Account Equity | N/A | $25.000 |
Our Opinion About FXCM
FXCM is great for traders with different trading skills. The broker is especially useful for beginners, as some of FXCM’s platforms offer various trading tools, including automated trading capabilities.
We also consider FXCM to be one of the safest brokers to trade with in the UK, as the broker is licensed and officially regulated by the FCA.
When it comes to forex and CFD trading, FXCM ranks first in several categories, including platform and tools, mobile trading, and ease of use. The broker has excellent and user-friendly trading platforms, with a simple interface and clean design.
FAQs
Yes. FXCM is a trustworthy broker that has existed for over 20 years and remains popular among traders globally because of its impeccable services and tools. In addition, the broker is licensed and regulated by the UK’s Financial Conduct Authority (FCA), the CySEC in Cyprus, the FSCA in South Africa, and the ASIC in Australia.
With licences from these top-tier authorities, there is no reason not to trust FXCM with your personal information and trading efforts. The fact that the broker is regulated by the FCA means it has to secure customer funds in segregated accounts for maximum safety.
Assuming that all the details on your account are correct, it can take up to 2 business days for FXCM to process your withdrawal request. After the withdrawal is processed, the estimated time to receive payment depends entirely on the payment method that you’re using.
Withdrawals via electronic wallets such as Neteller or Skrill may arrive immediately. Bank transfers tend to take a little longer and depend on your bank.
Yes. UK citizens can use FXCM to trade currency pairs, index CFDs, commodity CFDs, and other assets. The broker is headquartered in London and regulated by the Financial Conduct Authority. It’s also available in Australia, South Africa and some counties within the European Economic Area (EEA).
Yes. FXCM is one of the best brokers we highly recommend to beginner traders interested in forex and CFDs. The broker offers various trading tools, including automated trading capabilities.
In addition, beginners and experienced traders have access to high-quality educational materials and great research tools. Moreover, FXCM has friendly and easy-to-use trading platforms with a simple interface and clean design.
FXCM was founded in 1999 and is a pioneer in online forex trading. Previously, their headquarters was in New York, until they later moved to London, UK.
The FXCM Review 2024 Group Details
✔ Advanced charting tools
FXCM is your typical retail broker - just like any broker, their main goal is to make you invest as much as you can and trade with as big volumes as possible. FXCM is a big established broker listed on the New York Stock Exchange, and the latter is a relative newcomer that focuses on beginners and aims to provide good customer support.
It is important to note that FXCM offers two main trading platforms, FXCM Trading Station and MT4, and liquidation policies slightly differ depending on the platform and account that you choose.
FXCM is a big established broker listed on the New York Stock Exchange - just like any broker, their main goal is to make you invest as much as you can and trade with as big volumes as possible.
FXCM focuses on beginners and aims to provide good customer support.
Most of the time, closing the trade would be possible only on losing positions... I don't know if there is manipulation going on, but this is my personal experience.
I had investments being held in many different financial firms which were very difficult to manage...FXCM helped me receive a tremendous amount of assistance in gathering all the various investments! Thank u
thank you for the review, FXCM is my choice of broker. I would recommend it to all but especially UK traders
Where is FXCM based?
London, UK, is the location of the FXCM headquarters.
I made many deposits and many accounts with FXCM. Have never had problem with them. The service is good they always helped me. Well, this broker offers a lot of different trading platforms like MetaTrader 4, WebTrader, TradingView, NinjiaTrader, and more. I think there is no way how to choose the right trading platform without testing, all you can do is just to try all of them and then make a decision about which one you want to trade with. I tried MT4 at first but then decided to move to the WebTrader platform, as it supports the depth of the market, which helps me to understand the trend. I’m trading with this broker more than 3 years. I prefer deposited smoothly and traded smoothly until withdrawal.
Can you explain a little? What method do you use to withdraw money? How long does it take for the money to reach your account?
I worked with FXCM since last 3 years. I have never had problems with them. Easy withdrawal and if you made a good judgement on a transaction, the profit will be up for taking immediately. Good place for intermediate to advance trader, just wish if they can improve on their graph. A bit hard to read and predict.
Having an FXCM account and previously using a meta trader, I was skeptical of the standard trading platform, but I found it was faster and easier to perform functions than others. Integrated pretty seamlessly with my account and includes all of the indicators I like to use. It is a pretty strong platform, I like it.
I find this platform easy to use and its educational content very useful and interesting! I would like to say FXCM is a top broker. I have already withdrawn my money, so they are responsible and trusted.
I like fxcm for their MT4 platform that they provide. But I think that they can add more assets to their lists. They have competitive spreads. Very professional and polite staff. They always solve my problems. I highly recommend)
I have dealt with FXCM since 2015, and their service is second to none. They are fantastic! Also, their Trading Station is in my opinion lightyears ahead of other platforms. Customer service is also great and polite.
Would you recommend this provider?
Fees
Account opening
Customer service
Deposit and withdrawal
Would you recommend this provider?
Fees
Account opening
Customer service
Deposit and withdrawal