Website

Visit Broker

Platforms

Trading Station, MetaTrader 4, Ninja Trader, Others

Founded

1999

Demo Account

YesOpen Demo Account

Regulated by

FCA, ASIC, FSCA

Leverage

up to 1:400 (1:30 for EU clients and UK clients)

Min Deposit

from $50

Customer Support

Yes

Rating

Contact

https://www.fxcm.com/uk/contact-client-support/

Country

Australia UK, Germany, France ,Italy, South Africa, Bermuda
FXCM is a leading online trading company for foreign exchange (FX), CFD trading, spread betting, and other related financial services. The company, FXCM was founded in 1999 and aims to provide global traders with access to the world’s largest and most liquid market by providing revolutionary trading tools, recruiting outstanding trading instructors, meeting strict financial requirements/ regulations and aiming to become the best online trading platform globally. This broker has offices in the UK, Germany, Australia, France, Italy, Greece, Hong Kong,South Africa and Israel.
FXCM focuses on traders who want to learn how to start trading the financial markets. New traders can take advantage of the trading tools and Forex education that FXCM offers to all clients trading on their platform. At the same time, FXCM offers innovative trading tools, education, and platforms for experienced traders intending to offer them the ultimate trading experience.

Every investor wants to be sure their funds are safe in the hands of their brokers, The Companies that constitute the FXCM Group are regulated through several and the most strict world regulatory bodies. FXCM is authorized by the following these regulatory bodies:
FCA: The FXCM LTD is Authorized and Regulated in the United Kingdom by the Financial Conduct Authority with a registration no. 217689 since 2003.
ASIC: FXCM Australia Pty. Limited (FXCM AU): The Australian Securities and Investments Commission (ASIC) have authorized FXCM to provide financial services with a registration number no. 309763, and this authorization came into effect in 2007.
FXCM South Africa (PTY) Ltd: FXCM South Africa (PTY) Ltd has been regulated by the FSCA in South Africa (FSP No: 46534) since 2016. Therefore, FXCM has an appropriate regulatory body monitoring their inter-daily activities with their client.

FXCM allows leverage trade of Forex and CFDs, this tool brings a plus even on the littlest market moves. In simple words, leverage may be a credit shoulder that's given by the broker towards your trading account with a purpose to multiply the trading size of your positions. Leverage can dramatically increase your potential gains, but in reverse may increase your losses too, thus you ought to use leverage very smartly, don't jump into high leverage levels but define the correct size to each instrument.
In FXCM different leverage levels are supported the traders’ experience and account funds, also because the regulation which particular residents or accounts may fall in.Leverage which may go up to 400:1 and 200:1 on FX and CFDs respectively to Australian residents or holder of accounts under ASIC regulation.
For the European clients, the European Securities and Markets Authority (ESMA) has set a guideline for leverage on the following:
  • Forex Products: Leverage – 30:1
  • Non-Major currency pairs: 20:1
  • Major Indices: 20:1
  • Commodities: 10:1
  • Cryptocurrencies: 2:1
  • As for the Account Types operated by FXCM, they contains a typical Account and an Active Trader Account.

  • The Standard Account is meant for beginner traders with its low:

  • Minimum Deposit requirement of $50(€300 for EU and UK residents),
    Maximum leverage of 400:1
    Minimum Spread of 1.3 pips
  • The Active Trader Account: Active Trader is an account status that is achieved by maintaining a minimum account equity of $25,000. This account is more suited for traders who actively trade and includes an array of benefits such as:
    1. Elite or active trader pricing
      API trading.
      Institutional derived trade ideas
      Dedicated support Market Depth

    Demo Account: As already noted, you can try out trading with FXCM using their Demo account service, and this is particularly recommended if you’re new to the world of finance and don’t know a lot about trading Forex or CFDs.
    Their live Demo account offers £50,000 of dummy capital for trading (also available in euros or US dollars, if preferred), so you can experience all the fun of 24-hour trading, five days of the week. You can choose which platform you want to use for Demo trading, and all the education and tools available to regular traders can also be utilized

    FXCM supports a good range of trading platforms including the industry-standard platform MT4. It’s Award-Winning platform Trading Station, Ninja Trader, and other specialty platforms.
    The features are similar to MT4, including EA integration, micro-lot trading, custom indicators, strategy optimization, and strategy back testing, and advanced charting. Trading StationWinner of the award for Best Proprietary FX Platform 2012 from Forex. But in contrast to MT4, Trading Station is straightforward to use and requires less setup. That said MT4 is used by many other brokers so traders who may switch brokers in the future might prefer to use the industry-standard software.

  • MT4 PLATFORM:
  • The MT4 platform remains the industry standard. The MT4 also known as the MetaTrader4 has been the industry standard for CFD trading since 2005 and most ECN (Electronic Communications Network) and STP (Straight Through Processing) brokers will have support for it. The advantages of using MT4 is numerous but most centers around the community support and the number of users that the tool boasts. Support is available for MT4 from FXCM customer support and you will also find a wealth of guidance online. Setting up MT4 is more involved than with Trading Station, but should you wish to change broker or operate multiple accounts at different brokers simultaneously, MT4 is a better platform choice.
  • Ninja Trader:
  • Ninja Trader is another platform offered by FXCM, though it is aimed at more experienced traders. Ninja Trader has a cleaner user interface than many of the other more advanced software packages but is one of the favorites for traders who want to engage in auto trading. FXCM supports several specialty platforms for experienced traders, these include the following:
  • An algorithmic trading platform with API integration knows as QuantConnect.
  • A platform for technical traders with advanced tools, MotiveWave.
  • A powerful platform for professional traders, known as AgenaTrader.
  • Their Sierra Chart is a professional platform with numerous 3rd party tool connections and many more like the StrategyQuant, a machine learning automated trading platform.
  • Traders can deposit funds into their accounts using the following approved methods:

  • Credit/Debit card
  • Bank Wire
  • Skrill
  • Rapid Transfer
  • Neteller
  • Klarna
  • The processing time may be between one business day, and most of the required information regarding deposits and withdrawals are provided inside the back-office. Third-party fees might as well be applicable from traders end.
    When making withdrawal requests from YOUR trading account, the payment method used in making your initial investment will also be the same means you withdraw your fund, this simply means that, if you make a deposit using Credit Card, you won’t be able to withdraw through Klarna. Although there are no withdrawal fees when using Debit/Credit, there is a $40 withdrawal fee which is charged when using Bank Wire.
    Leverage: Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.