FXCM Review

FXCM is a forex broker founded in 1999. Their mission is to provide traders with access to the world’s largest market. They are trying to do that by offering innovative tools, hiring trading educators, meeting strict financial standards and many more. The average execution speed is 19 milliseconds, which is impressive. In this review, we’ll try to cover all the things FXCM offers. Keep reading, and see if this broker is the right choice for you.

FXCM Pros and Cons

Is FXCM Secure?

FXCM is authorized and regulated by FCA, CySEC, ASIC, FSCA, and the Israeli Securities Authority. This means FXCM operates under strong regulations, so it’s safe.

Markets and Products

At FXCM, you can trade

• Forex
• Shares
• Indices
• Commodities
• Cryptocurrencies

FXM doesn’t set any exchange hours. You can trade currencies 24 hours a day, 5 days a week. The leverage is up to 1000:1.

Forex

EUR/USD	USD/JPY	USD/CHF	AUD/USD
GBP/USD	EUR/JPY	NZD/USD	EUR/GBP

Shares

Tesla Motors Inc	GameStop	Amazon.com	Apple
Alibaba	Boeing	Zoom

Indices

GER30	US30	SPX500	NAS100
ESP35	FRA40	JPN225

Commodities

XAG/USD	XAU/USD	USOil	UKOil
NGAS	Copper

Cryptocurrencies

BTC/USD	ETH/USD	LTC/USD	BCH/USD
CryptoMajor	EOS/USD

FXCM Fees and Charges

If you’re inactive for a year, you’ll be charged up to $50 per year. Inactive locked accounts will also be charged. FXCM doesn’t charge commissions on most of its accounts. It does have spreads and other fees:

• Swap Fees –  If you hold positions overnight
• Withdrawal fees – may charge fees on withdrawal depending on the methods used
• Account Transfer Fees
• Currency Conversion fees

FXCM Account Types & Account Opening

There’s only one live account at FXCM. It comes with competitive spreads, averaging 1.3 pips on EURUSD. There’s no minimum deposit.  If you want to trade large amounts of capital, there’s an FXCM Active Trader program that might be for you. To qualify for this account, you need to meet a minimum notional volume of $10 million per month. 

Also, there’s a free demo account. It’s good that you can use this account indefinitely. 

How to Open an Account

To open an account at FXCM simply:

• Click the “Open an account” button on the website
• Fill in the form
• Choose account
• Agree to terms
• Start trading

Trading Platforms

FXCM lets you trade on 4 trading platforms:

• Trading Station
• MetaTrader 4
• Capitalise AI
• Tradingview Pro

All platforms pretty much have the same features. Only the TradingviewPro doesn’t have Automated trading. And all four don’t have copy trading.

Mobile Trading Platform

The TradingStation app is available for both iOS and Android users. If you’re too lazy to search it on the app store, visit the website and scan the QR code. 

FXCM Research Tools

There are three research tools at FXCM:

• Economic Calendar –  An easy way to keep track of important events
• Trade Volatility – A great way to see trading opportunities
• Live Forex Charts – Analyse the currency pair or instrument of choice

FXCM Educational Content

Whether you need to learn from the very beginning or not, FXCM’s education section is for you. 

• There are webinars like:
• The Crypto Minute – Held every Wednesday
• Morning Market Review – Every weekday
• Market Updates – Every weekday

Besides the webinars, there are guides and articles.

Customer Service Overview

If you need to reach out to FXCM support, you can do it by:

• Visiting their office
• WhatsApp: +44 7537 432259
• Email: info@fxcmmarkets.com
• Live chat
• Requesting a call

FXCM Deposit and Withdrawals

You have several options when it comes to depositing and withdrawing funds at FXCM.

• Debit/Credit Cards
• Bank Wire
• Google Play
• Skrill
• Neteller
• China Online Payment
• Crypto

If you don’t know how to make a deposit, there’s a detailed guide for each method on the website.

Withdrawal Methods and Payout Times

The withdrawal methods are the same as the deposit. If you want to withdraw your money follow these steps:

• Log in
• Click on “Withdrawal Funds”
• Select the withdrawal method you want
• Click “Submit”
• You’re done

The withdrawal request will be processed within 2 days. 

FXCM Online User Reviews and Ratings

FXCM is rated with 3.8 stars on Trustpilot. Out of the 565 reviews, 67% are 5 stars, and 14% are 1 star. Users mostly like the customer service. Other users complain about the spreads being high, or long withdrawal time.

Author Opinion on FXCM

FXCM seems like a broker that it’s good in every department. Obviously, that’s expected from a broker that’s been operating for over 20 years. They’re transparent about their spreads, leverage, execution, and trading conditions. They offer quite a decent amount of trading instruments. It’s a broker suitable for all budgets and all skill levels. Which is amazing. FXCM definitely offers something for everyone, and it’s a broker worth trying.

Frequently Asked Questions