fxcm137x66

Regulation ASiC , BaFin , CFTC , CONSOB , FCA , FCM , NFA , RFED , SFC
Accepts US Clients: Yes
Min. Deposit: $2000
Leverage: 50:1
Platforms: Active Trader , MetaTrader 4 , Mirror Trader , Trading Station Gateway , Trading Station II
Overall rating: 2.84/5

Broker Overview

FXCM is one of the largest New York based FX dealers available to retail traders. As such, it is a well-known and trusted name in the Forex trading game. The company is even listed on the NYSE, assuring that it is going to be around for many years to come. The FXCM brand is trusted by both retail traders and professionals alike.

Company Information

Broker’s Name Forex Capital Markets (NYSE: FXCM)
Website www.fxcm.com
Headquartered in New York, NY
Founded in 1999
Regulating Authority ASiC, BaFin, CFTC, CONSOB, FCA, FCM, NFA, RFED, SFC
US Clients Accepted  Yes
Telephone Number 1 212 897 7660
Fax Number 1 212 897 7669
E-mail Address info@fxcm.com

Account Options

Type of Broker No dealing desk
Commission Yes
Mini Account  Yes
VIP Account  No
Segregated Account  No
Islamic Account (Swap Free)  Yes
Demo Account  Yes
Institutional Accounts  Yes
Managed Accounts  Yes
Maximum Leverage 50:1
Minimum Deposit $2000
Deposit Options ACH , Bank Wire Transfer , Credit Card , Debit Card
Withdrawal Options Bank Wire Transfer , Credit Card , Debit Card

Bonus & Rewards

No Deposit Bonus  No
Bonus for First Deposit  No
Is the Bonus Based on the Volume of the Transaction?  No
Other Bonuses  No

Trading Platform

Platform Type Active Trader, MetaTrader 4, Mirror Trader, Trading Station Gateway, Trading Station II
Platform Languages English, Italian, Spanish, German, Russian, French, Portuguese, Hebrew, Arabic, Chinese, Japanese, Urdu
OS Compatibility Windows
Streaming News Feed  Yes
Trading Signals  Yes
Automated Trading  Yes
Trade From Charts  Yes
Market Commentary  Yes
E-mail Alerts  Yes
Mobile Alerts  Yes
Scalping  Yes
Hedging  Yes
Trailing Stops  Yes
Guaranteed Stop Loss  No
Guaranteed Limit Orders  No
Guaranteed Fills  No
Interest on Margin  No
One-Click Execution  Yes
OCO Orders  Yes

Customer Service

Customer Support Languages English, Italian, Spanish, German, Russian, French, Portuguese, Greek, Hebrew, Turkish, Arabic, Chinese, Danish, Norwegian, Swedish
Customer Service Hours 24h
Place Trades Over the Phone?  Yes

FXCM - Review

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Impression

FXCM is one of the largest New York based FX dealers available to retail traders. As such, it is a well-known and trusted name in the Forex trading game.

The company is even listed on the NYSE, assuring that it is going to be around for many years to come. The FXCM brand is trusted by both retail traders and professionals alike.

trading-platform-web-trading

Platform

FXCM uses several different platforms. These include Trading Station II, FXCM Active Trader, Trading Station Gateway – a web based solution, as well as Mobile Trading Station II and the well-known MetaTrader4 platform.

Customer Service

FXCM has many sources of customer service available to traders. There is a live chat feature, phone customer service, email, fax, and a trading desk phone number to call. There are toll-free and international numbers available to traders around the globe.

Reliability

FXCM has long been known as one of the most reliable dealers on the planet as they are one of the biggest. With a well-known and tested platform selection, trade execution is virtually flawless as there have been millions upon millions of trades executed through it.

Commissions and Spreads

FXCM has floating spreads, and are known for the tightness that they will typically have. Spreads can be as low as 0.2 pips in the more liquid trading pairs such as the EUR/USD, USD/CHF, and the USD/JPY.

Promotions

FXCM rarely, if ever, has promotions.

 

Conclusion

The very fact that this company is not only regulated, but listed on the NYSE shows that it is a serious company. The beauty of trading with this dealer is that there is no dealing desk intervention, and the spreads are great. While perhaps not the best news trading source, (no variable spread broker is) for the typical trader, the cost of execution will be tiny.

Pros:

  • Variable spreads. This keeps the spread tight, which is one of your biggest expenses as a trader.
  • The Trading Station II platform is well-known and reliable. It has been being used for years, and is very stable.
  • Accounts can be started with as little as $50.
  • The deposit process is simple and quick, as you can use a paper check, ACH deposit, credit and debit cards to fund your account. Withdraw can be done in reverse.
  • FXCM also allows you to trade the US Dollar Index.

 

Cons:

  • Limited to only Forex in the US, so if you are looking to trade other markets, you will need another broker.
  • The variable spreads can be an issue during news events, but only if you are looking to scalp the news announcement.