The 1st tier ranges from $10 to $25 million traded per month and pays $5 per million, while the 5th tier pays $25 per million if you traded a minimum notional amount of $300 million per month. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. He has also published a book in 2023 on on investing and trading. All other deposit methods do not have a minimum deposit requirement however may have limits on how much can be deposited each month.
- There is a very high degree of risk involved in trading securities.
- Founded in 1999, London-based Forex Capital Markets or FXCM is a major international online forex and contracts for difference (CFD) broker that also provides spread betting and related services.
- FXCM broker offers bonuses in the form of either Rebates or Special offers.
- While you can find platforms with more indicators, more charts, faster speed, as a whole, MetaTrader 4 offers one of the most complete packages because it does everything really well.
- You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- FXCM is a market-making broker with a long history in the market, having been founded in 1999 in New York.
I usually speak to the German customer support but as I am English speaker they also speak very good English. Sanjay always tried to fix my things (If there is anything to fix). Whereas other renowned brokerage platforms are asking for comparatively higher deposits to trade in standard accounts, FXCM fxcm is fully flexible in this term. FXCM has dedicated itself as a trader-driven broker and ‘client’s priority’ stands as its business virtue. Not only FXCM is upgrading its client-oriented services but also over the years it has achieved tremendous prestigious awards for its dedicated customer service.
Amazing customer support
Users can contact customer support via email, live chat, and phone. The range of markets available with FXCM is quite broad however you can find other brokers that offer more choices for each financial instrument. 39 currency pairs, for example, would put FXCM at the lower end of the broker for currency choices. FXCM is especially proud of their own Trading Station II (not to be confused with another platform TradeStation).
Compare FXCM Competitors
The company offers a bundle of great basic forex training lessons, and a considerable video archive full of well-produced, high-quality video lessons. FXCM does provide as many tradable assets as some other major forex and CFD brokers. Still, this leading online broker ranks highly among its competitors due to its impressive number of platform choices, quality research, helpful educational resources and tight dealing spreads. The broker’s intuitive and easy-to-navigate website provides all the information you’ll need to open an account and begin trading in several markets. You can also open a demo account to test the broker’s services and platforms before committing any funds. It is also a great option for active traders who benefit from an abundance of technical analysis tools, including over 150 analytical tools and a wealth of customisable charts and drawing tools.
FXCM Compared
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Active Traders commissions can be less than most ECN brokers once you factor in that FXCM has lower commissions. Unfortunately, FXCM is unavailable to U.S. traders at this point in time. FXCM is a market-making broker with a long history in the market, having been founded in 1999 in New York. FXCM is also a great option for beginners, due to its wide range of educational materials and easy-to-use platforms, including its latest integration with TradingView. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution.
Ninja Trader has a few interesting features aside from the plentitude of trading and analysis tools. Tech-savvy traders can use NinjaScripts to develop their custom indicators and trading strategies easily, and the platform also has automated trading capabilities. Trading Station desktop (not to be confused with TradeStation) is FXCM’s main platform. It provides a good trading experience for all kinds of investors, be it beginners or advanced traders. The broker’s proprietary Trading Station platform is available for iPhone and Android mobile devices. The app features a simple, intuitive interface for entering orders and receiving confirmations, as well as powerful trading tools and charts with access to research.
This simplified trading process makes the platform a great tool for beginner traders. This is FXCMs offering to all clients who don’t qualify as an Active Trader. This account is a commission-free account, which means the trading costs are included in the spreads.
Trading instruments
FXCM’s slippage was reported as +87% positive or zero in its July 2021 Slippage Statistics. The Active Trader account uses a tiered commission structure which means the more you trade, the lower your commission cost will be. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes.
The offer of educational content is extensive, providing great overall forex-related education to traders of all skill levels. Also, MetaTrader 4 users can automate their trading using “expert advisor” or EA software they can program themselves or obtain from third parties. Also, institutional investors, retail brokers, emerging market banks and hedge funds can take advantage of FXCM Pro. This high-end broking service gives institutional clients excellent pricing and access to the forex and CFD markets.
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I lost connection to my trading…
This lack of data is a potential deterrent for traders, but it is by no means a huge concern. FXCM has low trading costs overall and no withdrawal, account, or deposit fees. However, the other fees are average, and there is an inactivity fee for accounts that have been idle for a year or more. The news feed is very good and users can also use an economic calendar. That way, users can specify what they are interested in, and receive news accordingly. FXCM’s daily newsletter, Before the Bell, provides helpful info and daily trading ideas based on the market analysis of FXCM’s experts.
FXCM offers 24/5 award-winning customer services with customer support contactable via live chat, email, phone and even SMS text message. If you wish to call FXCM, there are 42 country-based numbers one can call from. Countries range from South Korea, United Arab Emirates to Venezuela. FXCM is an excellent choice for algorithmic forex traders thanks to its wide array of related platform options that provide advanced charting tools and support automated trading strategies. FXCM provides a respectable variety of market research from a combination of in-house content and third-party materials. Overall, FXCM’s research is a touch above the industry average and will satisfy most forex traders, though it’s not as rich or diverse as what’s offered by the best brokers in this category.