Just by the first impression of FXCM website, you can recognize a powerful, secure and reputable broker with outstanding performance and available trading features. Here is a retail forex broker which is regulated in many countries, including US, UK, Australia, Italy, Canada, Germany, France and Hong Kong. The broker has been voted "Largest Forex Provider by Investment Trends in 2012.
FXCM is one of the biggest brokerage today with world-wide recognition, high liquidity and impressive financial assets. This allows the broker to bring you very attractive rates, innovative features and high standards when it comes to forex trading. No matter what your experience is, FXCM is one of the top choices out there.
The broker is headquartered in New York. If you are one of many US traders struggling to find a place to trade currency, look no further. FXCM welcomes USA traders with open arms. The broker is registered with CFTC and is a member of NFA (ID # 0308179).
FXCM offers No Dealing Desk trading execution. For those of you unfamiliar with the term, no dealing desk means that you are not trading with or against the dealing desk. While there are forex brokers that trade against you, FXCM is not one of them. The broker shows fairness and transparent execution with one of the world’s leading bank and financial institutions.
FXCM brings very competitive spreads starting from as low as 1 pip.
Traders outside USA can take advantage of 1:200 leverage, while US-based traders get an option of 50:1. Better than nothing, right?!
Trading accounts of any type can be opened with different currencies including US Dollars, Euro, Pounds, Canadian Dollars, New Zealand and Australian Dollars, and Japanese Yen.
There are over 50 tradable currency pairs to choose from, all available from one account from a platform you select to trade with.
Different account types are important to fit traders with any experience. Beginners might want to start with low funds to build knowledge and experience, while advanced traders need extra features and tools. Here is what you get with FXCM:
Demo Account – Put some of that reading into practice with 30-day demo account loaded with free $50,000 virtual money.
Basic Account - Trading micro is a perfect milestone for newbies to experience forex market without risking too much. You can start trading with as little as $25 with minimum deposit requirement of just $50.
Premium Account – Designed for experienced traders who are not afraid to deposit the initial requirement of $5,000.
Active Trader – All the pros out there are welcome to try this elite account with all the perks and features that come along with it. The minimum deposit requirement is rather high - $25,000, so this is only for traders who know exactly what they are doing!
This account is equipped with VIP features including 24/7 live support, daily news analysis, free VPS services, relationship manager, dedicated service team, free bank wires, API connections and extremely low pips starting from 0.6 on major currency pairs.
Active Trader, offers a level II type trading environment with 10 levels of market depth for a liquidity view seen by market makers. Short-term traders make the best of it by working with the real liquidity at individual price levels.
There is also an option of CFD, Segregated and Spread Betting Account. Visit the broker’s website for more information.
Once registered and approved, you are ready for some action. Deposits and withdrawals are processed via Credit/Debit Cards, Checks and Wire Transfers. USA residents can take advantage of electronic checks.
Trading Station Web – The platform is accessible via any browser and allows you to trade forex market from anywhere, as long there is a decent computer with internet connection. No download or installation is required.
Trading Station Desktop – This version is most suitable for traders who seek professional charting features. The interface of desktop version is very similar to the web-based version, however in this case you get advanced charting options.
Trading Station Mobile – We live in the era of mobile phones, where our bodies are almost synced and blended together with the portable devices. FXCM offers powerful trading solution with this intuitive mobile interface designed for all mobile devices. You can easily review the charts and manage your positions.
MetaTrader 4 – For all of the traders that prefer the familiar grounds, here is new, improved and faster MetaTrader 4 platform with integrated no dealing desk execution. The unique FXCM MT4 features include:
Set SL/TP Pre-Execution - Set Stop Loss and Take Profit orders while opening a new trade
0.01 (Micro) Lots - Trade more precise lot sizes for tighter risk management
Partially Close Positions - Control when and how much of a position you want to close
More instruments - Exotic Currency pairs such as: USD/ZAR, USD/SGD, USD/HKD, SGD/JPY, USD/TRY, EUR/TRY, USD/RUB, EUR/HUF, USD/HUF
Anonymous forex trading since price providers do not see your SL, TP or Pending orders
No Trading Conflict of interest between broker and client
Zero trading restrictions - place pending orders even inside the spread
Mirror Trader – Here is an interface to follow and copy other traders. If you aren’t sure you can do it yourself, find a professional trader to do it for you. Just copy his/her moves and profit along!
Customer support can be reached 24/7, even during non-trading hours. The broker goes far and beyond to support its clients via email, phone and live chat. The representatives can speak over 20 languages and international toll free numbers are listed on the site.
If you need a reliable forex news site, DailyFX is a great resource for the forex trading community. The financial portal received over 4 million page views per month with up to 20 articles, analysis and reports published on a daily basis.
The website is well organized and is easy to navigate through. You can find market predictions, economic press releases, political and technical factors that may shake up the market each day.
*Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
† Please note FXCM Micro in its discretion may or may not offset individual transaction unlike transactions in most FXCM Standard accounts.
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