FXCM Review 2023 – Pros and Cons

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FXCM (Forex Capital Markets) is a global online broker that provides access to various trading instruments, including forex, stocks, commodities, and cryptocurrencies. The company was founded in 1999 and is headquartered in London, UK.

FXCM offers several trading platforms, including MetaTrader 4, Trading Station, and NinjaTrader. These platforms are available for desktop, web, and mobile devices. FXCM is regulated in multiple jurisdictions, including the UK, Australia, and South Africa, and the specific regulatory bodies that oversee FXCM depend on the region where the trader is located.

In addition to trading services, FXCM also offers educational resources, including webinars, trading guides, and market analysis, to help traders improve their skills and knowledge. FXCM has faced regulatory action in the past for violating rules and engaging in unfair practices, but it has since taken steps to address these issues and maintain a good reputation in the industry.

FXCM

Brokers Name

FXCM

Regulation

FCA, ASIC, CySEC, BMA

Established

2015

Headquarters

United Kingdom

Trading Desk

Market Maker

USA Clients

no

24H Support

Yes

Weekend Support

no

Website Language

English, Malay, Indonesian, Arabic, Chinese, Vietnamese

Account Details

Accounts

Active Traders, Corporate Clients

Min. Deposit

$50

Base Currencies

USD, GBP, EUR

Leverage

1:30

Spreads

0.2 pips

Fixed Spread

Yes

Margin Call / Stop Out

50% / 20%

Trading Platform

Trading Station, TradingView Pro, MetaTrader 4, ZuluTrade, Capitalise AI

Trading Instruments

Currencies, stocks, indices, commodity, cryptocurrency. Cryptocurrency is not available to UK retail clients.

Pros

  • Established broker with a good reputation in the industry
  • Offers a wide range of trading instruments, including forex, stocks, commodities, and cryptocurrencies
  • Provides access to various trading platforms, including MetaTrader 4, Trading Station, and NinjaTrader
  • Offers competitive spreads and low commissions
  • Provides educational resources and market analysis to traders
  • Offers a demo account for practice trading

Cons

  • Limited account funding options
  • Higher initial deposit requirements compared to some other brokers
  • Limited customer support options outside of business hours
  • Limited regulatory oversight in certain jurisdictions
  • Has faced regulatory action in the past for violating rules and engaging in unfair practices

Trading Features

Commission

Yes

Mini Accounts

no

Standard Accounts

Yes

VIP Accounts

no

Pro Accounts

Yes

Islamic Accounts

Yes

Segregated

no

Managed Accounts

no

Demo Accounts

Yes

Trading Services

Hedging

Yes

News Trading

Yes

Scalping

Yes

Automated Trading

Yes

Trading Signals

no

Educational Service

Yes

Copy Trading

no

Mobile Trading

Yes

Trading Markets

Indices

Yes

Forex

Yes

CFDs

Yes

Commodities

Yes

ETFs

Yes

Stocks

Yes

Bonds

Yes

Crypto

Yes

Funding

Deposit

Visa, Mastercard, Skrill, Neteller, Wire Transfer

Withdrawal

Visa, Mastercard, Skrill, Neteller, Wire Transfer

Contacts

Phone

+1 646 253 1401

Email

info@fxcm.co.uk

Address

20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom

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