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FXCM Review



FXCM is a market-making broker with a long history in the market, having been founded in 1999 in New York. The venerable broker now has headquarters in London, UK and is regulated by the country’s Financial Conduct Authority (FCA), as well as many other strict regulatory authorities around the world including in Australia (ASIC) and South Africa (FSCA).To get more news about fxcm review, you can visit wikifx.com official website.

FXCM offers traders a few different accounts, with forex and CFD instruments (commodities, crypto and more), leverage, and a truly impressive variety of plugins and accompanying applications. Moreover, FXCM can be characterized by its superior diversity in terms of trading platforms including its own Trading Station, MetaTrader 4, copy-trading platform ZuluTrade, NinjaTrader and other add-on plugins accessible to traders via the FXCM website. With reasonable trading fees and conditions plus an industry-best level of flexibility for traders, FXCM is an enticing option for frequent traders with virtually any strategy preference.
Who Is FXCM Review Recommended For?
FXCM is suitable for a range of traders, including beginners. Beginner traders can enjoy FXCM’s lower deposit requirement on the Standard account and access to ZuluTrader, which lets them browse and copy the positions of market experts listed on the platform. Experienced investors who have formulated a strategy that depends on a diverse array of plugins and tools will gain the most from the FXCM platform. The breadth of platforms and available tools means that experienced traders are best served by FXCM’s emphasis on incorporating value-added services and resources.
Top FXCM Review Features
Variety of Platforms: An FXCM account comes with access to many different platform choices, including the standard MT4 on desktop, mobile, and web. Its own Trading Station platform is similarly capable but has an updated look and some new functionality thanks to plugins available on the website. ZuluTrade access offer copy-trading utility while NinjaTrader lets traders build and try automated strategies and more.
Plethora of Trading Apps: A page on the FXCM website lists the plugins and extensions it offers for traders who want to quickly add functionality to the Trading Station and MT4 platforms, enabling a greater spectrum of strategies. Included are new indicators, Expert Advisors, and various reporting and charting tools like Pivots Panel, CFD Auto Roll, Track ‘N Trade, and Visual Traders Studio.

Connected Customer Support: Getting in touch with a representative of FXCM is easy and quick. There’s a phone number for each geography that FXCM operates in, with agents on the line able to speak the relevant language to users. Live chat is available, but it’s not always online. An email form also speeds along inquiries, and we found that support takes no longer than one business day to return.

Active Trader Account: For more experienced traders who require tools beyond the standard available set, or who want to customize their own via free APIs (FIX, ForexConnect and others), the Active Trader account is unique. Active Trader accounts are defined by elite pricing on spreads and discounted commissions compared to the Standard Account, free institutional research via eFXplus, an unlocked Market Depth tool for Trading Station, and VPS hosting.

Low Commissions and Spreads: Traders can pay as little as $50 to open an account and start trading, though for EU accounts there is a minimum of €300, both with no commissions plus spreads starting as low as 1.3. The most popular Standard account has a competitively priced commission-and-spread model, and Active Trader users will enjoy tighter spreads and a discounted commission of $25 per $1 million traded.
FXCM Review Compliance & Regulation
One of the biggest votes of confidence that a broker can receive is regulatory licensing from the UK’s Financial Conduct Authority (FCA). This means that relevant traders are protected by laws that segregate their funds, force pricing and instrument transparency, safeguard their data, and insure against losses in the event of insolvency. FXCM is regulated in similar fashion everywhere it operates including Australia and South Africa. Despite some regulatory hurdles experienced during FXCM’s attempts to navigate the US market, it remains a highly trusted and compliant broker in the country it’s headquartered in and elsewhere.
FXCM Review Pricing
There are no commissions for trades made through the Standard account, all fees are incorporated in the instrument spreads. FXCM quotes the commission on Active Trader accounts at $30 per $1 million traded which can be discounted to $25 per million traded when monthly turnover exceeds 150 million. Spreads on the Standard Account range from 1.3 pips on major pairs like EURUSD, and for Active Traders 0.2 pips on the same instrument. With a wider range of services available to all traders in the FXCM ecosystem, many find the commission and spread model employed by the platform to be more than fair. FXCM does not charge deposit or withdrawal fees for credit cards, though bank wire transfers will cost $40, and only third-party charges apply to e-wallet services. FXCM also imposes a low financing fee on positions that require it, as well as fees on overnight positions.