In the following analysis of FXCM, our seasoned analysts will walk you through every essential facet of the broker’s services that you need to be aware of in order to make an informed decision. FXCM was founded in 1999, and its headquarters are currently located in the United Kingdom. The brokerage firm has swiftly been able to build a strong name for itself; it has been recognized with a large number of accolades, and its parent company, Jefferies Financial Group Inc. (NYSE: JEF), is included on the Fortune 500 list of the most successful American corporations.
FXCM is subject to the oversight of regulatory bodies from from three different nations, namely Australia, the United Kingdom, and South Africa. These licenses guarantee that your money is kept in separate accounts, and in some jurisdictions, they even make you eligible for fund insurance.
If you are interested in entering the world of trading and improving your knowledge and skills, FXCM is the broker you should work with. You can definitely take your trading to the next level with the help of the extensive educational and research materials that this platform provides. Continue reading if you want to learn more.
The History of FXCM and Its Regulation
FXCM is a genuine international broker that conducts business in every region of the world. According to the findings of our investigation into the trading website of the broker, FXCM was founded in 1999 with the intention of spreading secure trading procedures throughout Europe.
In a relatively short amount of time, FXCM was awarded licenses from the following five distinct institutions:
• The United Kingdom’s Financial Conduct Authority (FCA)
• The Australian Securities and Investments Commission, or ASIC, is Australia’s financial markets regulator.
• The Autorité de Contrôle Prudentiel et de Résolution (ACPR)/The Autorité des Marchés Financiers (AMF) – France
• The Financial Sector Conduct Authority of South Africa (FSCA)
Trading contracts for difference (CFDs) and spot instruments (more than 70 in total) while regulated by these bodies is a safer option. When you have an account with FXCM, your monies are kept in separate bank accounts. This ensures that even if something were to happen to the company, your money would still be secure. In addition, you are protected by fund insurance schemes in certain jurisdictions, such as those of the United Kingdom and France, amongst others.
• Check out our website at www.fxcm.com.
• Support can be reached at +44 20 7398 4050.
• Leverage: 2:1
The minimum deposit is set at £300.
• Spreads are now 0 pips
• MacWindowsAndroidLinux
Advantages
• Quick and efficient times of execution
• A great deal of leverage
• Lots of research tools
• Helpful customer support
Disadvantages
There are no bonuses.
• There is no protection against negative balances for retail consumers
Account Types Offered by FXCM and the Terms and Conditions of Trading
Standard and Active Trader accounts are the two primary varieties of retail trading accounts that may be opened with FXCM.
Spreads on the EUR/USD pair average 1:3, while those on the GBP/USD pair average 2.0 pips with the regular account. Clients who use this account can take advantage of the following leverages, depending on the company or organization with which they trade:
Customers who live in the UK and other European countries are catered to by FXCM Ltd.
• Forex Pairs, with leverage of up to 30:1
• Contracts for difference, with leverage as high as 20:1
For customers located in Australia, South Africa, and other nations, respectively: FXCM AU, FXCM ZA, and FXCM Markets.
• Currency pairs, with leverage of up to 400:1
• Contracts for difference, with leverage of up to 200:1 in some cases
The fact that FXCM is a broker that allows traders to begin with minimum deposits of merely £ 300 (FXCM LTD) and $50 is a significant advantage of trading with the company (other entities).
If you are a trader that executes a significant volume of transactions, we also suggest that you look into FXCM’s Active Trader program. You will be able to take advantage of cheaper spreads and a variety of other benefits with this account. You will first require a standard account with FXCM in order to be eligible for the Active Trader program. After that, you should have a monthly trading volume that is greater than $50 million, and you are required to keep a minimum account equity of $25,000. This applies to each and every month.
Trading Platforms for Mobile and Desktop Devices from FXCM
After registering with FXCM, you will instantly be given the opportunity to select the trading platform that best suits your needs. One of the many reasons why FXCM is regarded as a leading forex broker is the fact that it provides clients with access to a wide variety of trading platforms. This encompasses the broker’s own proprietary platform in addition to Trading Station, MetaTrader 4, ZuluTrade, TradingView, and Ninja Trader. However, the availability of trading platforms is contingent on the FXCM organization that you are trading with at any given time.
You have access to all of the trading instruments, indicators, and charting tools that FXCM has to offer when you use Trading Station. This is one of the many benefits of using FXCM. In addition, there is a tool that allows for automated trading as well as trading alerts.
These features are still accessible through MT4, along with others such as stop-loss/take-profit orders and virtual private server (VPS) hosting, amongst others. If you plan to make use of expert advisors (EAs) and robots, MT4 is an excellent choice for a platform to go with. In addition to that, there is the ZuluTrade platform, which is designed specifically for social trading. You can learn new trading strategies while simultaneously copying the positions of other traders using ZuluTrade.
As if that weren’t enough, if you open an account with FXCM, you’ll also receive a complimentary TradingView Pro subscription for a whole year. The sophisticated charts, technical indicators, and other features offered by TradingView will be of tremendous assistance to your positions.
Educating and Training Materials Provided by FXCM
During the course of our analysis of FXCM as a broker, we came to the conclusion that the company places a significant amount of importance on educating customers so that they can become the most successful traders possible. You can benefit from online courses and webinars hosted by industry professionals and economists when you sign up for an account with FXCM. Through participation in these classes or webinars, you will acquire a deeper understanding of the day-to-day changes that occur in the economy and how those changes influence your transactions.
You also have the option of opening a demo account, which provides you with access to the same trading tools as a live trading account along with a simulated balance of 20,000 USD (or 50,000 GBP for FXCM Ltd). You are able to put your newly acquired knowledge into effect in this way, without putting your own money at danger.
In addition to this, there are additional educational resources available, such as how-to articles, interactive videos, glossaries, and a comprehensive section devoted to frequently asked questions. Additionally, you can access these resources on the go using your iOS or Android mobile device.
Customer Support at FXCM
If you have any concerns about how things operate at FXCM or if you run into an issue, you can always call customer service at any time of the day or night, five days a week. They are available. You can accomplish this task from a desktop computer or a mobile device by using email, the phone, or the live chat feature.
During the course of our FXCM study, our team called FXCM’s assistance on multiple occasions, and each time, we received responses that were both cordial and informative. Additionally, there are different phone lines for over 40 different places, which makes it quite handy for international businesspeople to conduct their transactions here.
FXCM: The Complete Wrap-Up
In this article, we take a look at yet another broker that blows our minds with the variety of services it provides and the reliability of its platforms. FXCM is an online broker that was founded in the United Kingdom but has quickly garnered acclaim all over the world.
The United Kingdom, Australia, and South Africa are the three organizations that oversee the broker’s operations as regulators. Due to the fact that these organizations are among the most authoritative in the industry, you should feel very confident in FXCM’s capabilities.
One more impressive feature of FXCM is the extensive selection of trading platforms it provides. Not only can you select from leading software solutions in the business, but there are also a large number of indications and signals available to assist you in making the most of your trades. FXCM also provides you with access to over 70 different instruments along with advantageous terms and conditions. These terms and conditions include a leverage ratio of 400:1 (30:1 for FXCM Ltd), spreads beginning at 0 pip, and execution speeds of approximately 0.026 seconds.
Sign up with FXCM right away to discover a successful broker that caters to traders of all experience levels, from novices to seasoned professionals.
FAQs
• How can I sign up for an account with FXCM?
The procedure of opening an account with FXCM is uncomplicated and accomplished in a short amount of time. Simply go to the webpage of the broker and click the option labeled “Open Account” to get started. After that, you’ll have to choose the trading platform that you want to use, as well as the base currency that you want to utilize. After that, you will be required to provide some personal information as well as a photocopy of your proof of identity and address documents. During the course of this analysis of FXCM, our analysts discovered that the registration process ought to take about ten minutes.
• Is it safe to use FXCM?
There is no doubt that FXCM is among the most reliable and reputable brokers in the industry. You will benefit from licensing and regulation from multiple jurisdictions, which serve to keep your funds secure and are to your advantage. In addition to this, you will be safeguarded by SSL encryption, compensation plans, and a variety of risk management measures.
• Does FXCM impose any costs for commissions?
CFDs are not subject to any commission costs at FXCM, contrary to popular belief. No matter which banking method you choose, you won’t have to pay any commissions when you make deposits because there are none. In the grand scheme of things, this enables you to take advantage of low-cost trading options.
• With FXCM, what kinds of items am I able to trade?
When you open an account with FXCM, you will have access to more than 70 different instruments to trade. Because foreign exchange is the primary product class offered here, the broker provides clients with access to 39 currency pairings and 3 currency baskets. You can trade CFDs on cryptocurrencies, indexes, commodities, and shares if you want to diversify your portfolio, but you also have the option to do so. It is important to keep in mind, however, that the availability of these instruments is governed by a variety of regulations.
• What is the minimum deposit required to open a trading account with FXCM?
When you trade with FXCM, the minimum deposit required of you will vary depending on the company you trade with. If you wish to trade with FXCM LTD, you will be required to fund your account with a minimum of £300; however, if you wish to trade with any other entity, you will only need to deposit $50.
