FXCM
7.8

FXCM

Regulation: UK by the Financial Conduct Authority FCA , Australian Securities and Investments Commission ASIC, Cysec Cyprus, Financial Sector Conduct Authority South Africa FSCA

Pros
  • Fast and straightforward account opening
  • Good technical research tools
  • High-quality educational content
Cons
  • Limited product portfolio
  • High bank withdrawal fees
  • No two-step authentication on trading platforms

Reviewed broker: FXCM

Company: Global Brokerage Inc. (Forex Capital markets LLC)

Established in 1999

Location: United Kingdom, Cyprus, Germany, Australia, Canada, Israel, South Africa

Regulation: UK by the Financial Conduct Authority FCA , Australian Securities and Investments Commission ASIC, Cysec Cyprus, Financial Sector Conduct Authority South Africa FSCA

Latest awards:

INTERNATIONAL BUSINESS AWARDSMOST TRUSTED TRADING PLATFORM MIDDLE EAST 2023

GLOBAL FOREX AWARDS 2022MOST TRANSPARENT FOREX BROKER – GLOBAL

USA traders: not allowed

Trading instruments: Forex, Shares, Commodities, Indices, Cryptocurrency

No dealing desk execution NDD: yes

Trading Features and Conditions

Currency pairs: 45

Base currency: EUR, USD, GBP, CHF

Demo account: Practice Trading Forex, Bitcoin, Gold and CFDs Risk Free on an MT4 practice account

Equity1Less than $5,000Between $5,000 and $50,000Greater than $50,000
FX Leverageup to 1000:1up to 400:1up to 100:1
CFD Leverageup to 1000:1up to 400:1up to 200:1

Islamic swap free accounts: no

Account types: single account

Spread types: All fees are built into spread, there are no commissions charged. For example, EUR/USD spread is 0.7.

Trading signals: available

Educational material: available

Scalping: allowed

Hedging: allowed

Automated trading: yes

VPS services: yes

One click trading: yes

Trading Software Platforms

TradingView Pro

TradingView is a social network for traders and investors on Forex, Futures and Stock markets! With Live quotes, stock charts and expert trading ideas, you can use TradingView every day and have the ability to execute your demo and live trading with FXCM.

Volume profile indicators, twice as much data on charts, marketplace add-ons and many more!

Exclusive badge next to your name along with custom resolutions for symbols.

TradingView Live Trading Integration with FXCM to trade directly from your TradingView charts.

TradingView Pro is available free for 1 year SAVE over $100.

Open an account with FXCM today and deposit $300 USD to gain access to this special offer.

Trading Station

Do you need to trade on the go? The Trading Station Mobile platform lets retail traders quickly and easily access the forex market. Trades can be placed and managed on the go through its simple, intuitive interface, which was designed from the ground up to function beautifully on mobile devices.

Trading Station Desktop opens up a world of potential opportunities with custom indicators, strategy optimization, strategy backtesting, and robust charting for serious traders.

Trading Station Web 3.0

The new Trading Station Web 3.0 was designed for traders, by traders. Trading Station Web 3.0 offers an incredible trading experience, with an intuitive user interface and powerful features to keep you trading at your best.

Trading Station Desktop VPS

Enhance your trading by signing up for Virtual Private Server (VPS) Hosting.

Trading Station Charts

  • Trade Directly From the Charts
  • Choose from dozens of pre-loaded indicators
  • Customise chart format and periodicity
  • Access both technical analysis and fundamental data
  • Compare Instruments with price overlays
  • Set up price alerts

Automated Strategies

Some of the top traders use automated strategies to take the human element out of trading. With Trading Station Desktop, automated strategies are added with just a few clicks.

  • Forex Strategy Backtesting: Determine key areas where your trading strategies can be improved, and gain confidence in your strategies prior to real forex market use. Learn more about automated strategies.
  • Forex Strategy Optimization: The strategy optimizer provides multiple sortable fields of data to locate optimal input combinations.

MetaTrader 4 on Mac, Windows and Android

Metatrader 4, also known as MT4, is a software trading platform that affords users the ability to engage the world’s most prominent financial markets. MT4 was officially released to the public by MetaQuotes Software on July 1, 2005. Popularity of the platform grew rapidly, and by April 2013, MT4 boasted one million users worldwide.

MetaTrader 4 offers robust functionality for active trading and advanced market analytics. Its software package provides numerous unique order options, tools for technical analysis, custom indicators and trade automation. Through the development and implementation of cutting-edge technologies, MT4 is able to provide a sophisticated suite of features:

MT4 Trading System: Conducting trading operations based upon strategies of any complexity is supported by MT4. Three types of order execution make entering the market instantly or at a specific time possible. Profit target, stop loss and trailing stop functions are available in order to actively manage an open position in the market.

Analytics: Interactive charts and a wide variety of indicators are accessible. MT4 contains a technical analysis package comprised of 30 built-in indicators and more than 2,000 free custom indicators, as well as 700 indicators that are for purchase.

MetaTrader Market: The MT4 market provides users with the largest selection of trading applications in the world. More than 1,700 trading robots and 2,100 technical indicators are available for purchase.

Automated Trading: Fully customisable algorithms can be developed for trade automation using the Integrated Development Environment (IDE) and MQL4 programming language.

Mobile Trading: MT4 is available on Android smartphones and tablets.

Alerts and News: MT4 provides a live news feed, as well as programmable alerts to keep users aware of changing market conditions.

Extensive Support: MT4 is available in 38 languages and offered by more than 750 brokerages. Supported instruments include CFDs, futures and forex. Traders and investors from around the globe are able to utilise its sophisticated functionality through web-based, downloadable or mobile application.

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.

Platform Functionality

FEATUREDETAILS
Default Lot Size0.01 Micro Lots
Hedging AvailableYes
Max DeviationAvailable
SL/TP Pre-ExecutionYes

Do you need to trade on the go? Trade from any browser and operating system (Windows, Mac, Linux) with no additional software.

MT4 VPS

Enhance your MT4 trading by signing up for Free Virtual Private Server (VPS) Hosting.

MT4 Trading Signals

Now you can copy trades automatically from successful traders in real time.

  • Sort signals by their trading results, % growth, number of subscribers and amount of funds managed, number of Trades/Win %, price and more.
  • Visualize a signal’s past performance on a chart and read community reviews
  • Copy trades on demo or live accounts without leaving MT4!

Social Trading Zulutrade

Copy leading Traders directly to your FXCM trading account. Trade shares, forex, cryptos and CFDs.

Powered by ZuluTrade, a leading social trading platforms, FXCM gives you direct access to view and copy top Traders’s strategies! Join the thousands of people who now trade in this hassle-free way with FXCM!

Browse from a range of proficient traders with proven trading record, find a Trader to match your risk appetite and simply Follow their strategy. It’s that simple!

You can check the performance of your portfolio and individual Traders inside ZuluTrade platform.

Start copy-trading with no monthly subscription (30 USD) for the first 3 months, if you don’t like it you can cancel it before you have to pay any fees! No obligation.

After the first 3 months, FXCM will waive the 30USD monthly subscription fee for eligible clients.

In other social trading platforms, you typically pay a volume fee (through higher spreads) on EVERY trade, whether winning or losing, therefore clients may incur significant costs even on losing months. This also may encourage the Trader the trade higher volumes.

With FXCM and the Profit Sharing model you save on costs while it also encourages the Trader you follow to seek consistent profits in a responsible manner as else they are not paid.

Advanced risk management with ZuluRank & ZuluGuard

ZuluTrade is distinguished by its proprietary features for transparency and personalize risk managements.

ZuluRank: Ranking traders only by their profits can be misleading, as their strategy is not always feasible in any account size. ZuluRank weights other parameters such as Maturity, Exposure and Drawdown, to help you find the best suited trader for your risk appetite.

ZuluGuard: When automating your trading, it’s also important to have the proper protection. ZuluGuard is an account protection feature that monitors each Trader’s behavior and automatically removes a Trading systems when detecting a deviation from its expected loss profile.

Capitalise AI Trading

FXCM and Capitalise bring AI trading to you. This unique partnership and platform allows you to do code free strategy automation just by typing your idea. Power up your trading with easy, intuitive & code-free automation.

Create any trading strategy using everyday English. Capitalise.ai uses a powerful technology that automates the strategy you define. Quickly, Precisely And Free From Emotional Influence.

Capitalise.ai monitors real-time market data, technical indicators, and macroeconomics 24/7 so you don’t have to.

Open as many strategies as you want — Only strategies that are triggered will use your buying power.

Make Informed Strategic Decisions Based On Aggregated Data Sources.

Use historical data to see exactly how your strategy would have performed.

Test your strategies risk free using real-time data.

Gain insights from rich & comprehensive statistics of every trade

Edit your strategies according to their performance with a click of a button

Use the Capitalise.ai app to manage your trades on the go; Edit, stop or automate new trading strategies, all from your iPhone or Android.

Compare platforms


PLATFORMS
TRADING STATIONMETATRADER 4ZULUTRADECAPITALISE AITRADINGVIEW PRO
1K Micro Lotsyesyesyesyesyes
Automated Tradingyesyesyesyes
Pre-Loaded Strategiesyesyesyesyesyes
Advanced Backtestingyesyesyesyesyes
Chart Tradingyesyesyesyes
One-Click Tradingyesyesyesyes
Email/SMS Alertsyesyesyesyes
Custom Indicatorsyesyesyesyes
Desktopyesyesyesyes
Web and Mobileyesyesyesyesyes
Copy Tradingyesyes

Educational Material

Economic calendar

Keep track of key economic events, speeches, and reports to give your trading an edge.

FXCM market news

Top daily headlines on multiple markets delivered to you perfect for the fundamental trader. 

FXCM CHARTS

Charts and indicators are the go to tool for technical traders to analyse trends and identify potential trade opportunities.

Grid sight index

FXCM introduces big-data analysis with this new and innovative technical indicator for real time analysis.

Market scanner

Pick from the top indicators and scan FX and CFDs to have this tool perform quick analysis and present you with signals.

Daily technical levels

Subscribe to FXCM daily newsletter and receive daily actionable trading set-ups before market open, directly to your inbox.

Educational material with FXCM broker

Learning center: FXCM’s diverse range of written content includes two comprehensive guides, as well as a vast library of articles (nearly 200 in total) that cover topics like trading tips and strategies, charting, and indicators. It also provides a selection of articles broken down by experience level, with options for beginner, intermediate, and advanced traders.

Room for improvement: FXCM’s video library has dozens of videos, and has been updated to include embedded content from its YouTube channel. That said, I’d like to see FXCM expand its educational video content beyond platform tutorials and archived webinars.

Payment methods and deposit requirements

You can Deposit Funds by the following payment means: 

  • Credit or Debit Card – Approximately one business day, often less to review and process into your trading account.
  • Bank Wires (SWIFT, CHAPS, BACS, SEPA) –  Approximately one to two business days (domestic) and three to five business days (international), often less, to arrive and process into your trading account. 
  • Paper Cheque – Approximately five to ten business days after receipt to clear and process into your trading account.
  • Skrill –  Funds will typically be credited into your trading account within 1 business day.
  • Union Pay –  Funds will typically be credited into your trading account within 1 to 2 business days

Minimum deposit requirement: $50

There are no account, deposit, or credit/debit card withdrawal fees. However, you have to pay a $50 fee after one year of inactivity and bank withdrawal can be costly.

Customer Support 

Customer service can be reached via phone, email, trading desk and online chat

FXCM Review : Questions Answers

Is FXCM regulated?

FXCM is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC. FXCM is a forex and CFD broker.

What is the minimum deposit for FXCM?

FXCM requires minimum deposit of $50, in line with the industry average.

Is Forex illegal in USA?

Yes, Forex is legal in the United States. Unlike the securities and futures markets, the foreign exchange market is not controlled by any central governing body, there are no clearing houses and there is no arbitration panel. All members trade with each other based on credit agreements.

How do I withdraw money from FXCM?

Withdrawing funds from your FXCM trading account via one of these methods can be done in a few easy steps. From the homepage of the FXCM website, hover over Log In, and click My Account. You will be routed to the MyFXCM login page. Log in using the same ID and password used to access the Trading Station.

How was the rating of FXCM performed compared to other brokers? 

This 2024 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on FXCM FX broker performance and features. 

Overall our online FXCM review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online FXCM or you find inaccurate details FXCM broker review please get in touch with us and the changes will be applied.

FXCM is regulated in three tier-1 jurisdictions, making it a safe broker (low-risk) for trading forex and CFDs. FXCM is well-known for its Platforms and Tools, Education, Professional Trading, Algorithmic Trading and Social Copy Trading.

9.0
Regulation and Security
9.0
Platforms and Features
4.0
Deposit and Withdrawal
9.0
Educational Material
7.8 Overall Rating

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