FXCM Review

Minimum Deposit: $50 VISIT BROKER
63% of retail investor accounts lose money when trading CFDs with this provider.

Forex Capital Markets Limited (“FXCM LTD”) is the brand name of the FXCM group of companies or FXCM Group. The FXCM Group’s companies are regulated in several jurisdictions, including FCA, ASIC, and FSCA. FXCM was founded in 1999 and headquartered in London, UK.

FXCM offers a nice product portfolio covering various asset classes, including forex, commodities, stocks, indices, cryptocurrencies, and baskets of different instruments. FXCM offers CFDs trading and Spread Betting in one place. In addition, the broker offers tight spreads and commission-free trading. Moreover, the broker accepts both individuals and as well as institutions as clients.

FXCM offers multiple account types and trading platforms, including MT4, Trading Station, Ninja Trader, TradingView, and Speciality platforms, with top-of-the-line liquidity. Moreover, the broker offers useful trading tools such as AI and VPS hosting.

FXCM has a ton of educational and research resources, including market data, news, analysis, trading signals, and guides.

7.7Expert Score
FXCM Rating

Forex Capital Markets (FXCM) is a well-known online brokerage that provides forex, CFDs, and spread betting services through the internet. The broker was established in 1999 with the goal of providing access to financial markets through new tools and excellent trading conditions.

Investment Products
7
Commissions and Fees
7
Platforms and Tools
8.5
Research and Education
8
Deposit and Withdrawal
8

FXCM Review

Pros and Cons

FXCM falls under top-tier government regulatory authorities such as FCA, ASIC, and FSCA. In addition to minimal trading costs, the broker offers multiple sophisticated trading platforms. FXCM also offers copy trading and social trading with useful premium addons like VPS service. Multiple payment methods are available, and deposits are processed free of cost. On top of that, FXCM provides high-quality educational and research resources.

On the other hand, FXCM is not a public company. Thus its financial information is not available. Moreover, the broker does not provide banking services. A minimum deposit of $50 is required to get started with the broker. There is a withdrawal fee for wire transfers. Lastly, the broker has trading instruments from a limited number of asset classes.

Positives
  • Regulations by FCA and ASIC
  • Multiple sophisticated platforms
  • Social Trading
  • Ninja Trader
  • Demo Trading
  • Advanced Charting by TradingView
  • Trading Central
  • Algorithmic trading solutions from Capitalise AI
  • ZuluTrade platform
  • Free deposits
  • Tight spreads and options for commission-free trading
  • Deep liquidity
  • Quality research and education
  • Low minimum deposit
Negatives
  • Broker is not a public company
  • $50 minimum deposit
  • Withdrawal fee on wire transfers
  • No banking Services
  • Clients from the USA not allowed
  • Limited asset classes
  • $50 inactivity fee
  • No Islamic swap-free accounts

FXCM Review

Investment Products

FXCM has a comparatively limited product portfolio. The broker offers securities to trade via CFDs trading or Spread Betting from various asset classes, including forex, commodities, indices, shares, cryptocurrencies, and baskets (ETFs). However, the broker does not offer options and government-yield bonds.

FXCM Instruments Summary

InstrumentsFXCM
Forex
Stocks
Indices
Commodities
Cryptos
Optionsx
Bondsx
ETFs
CFDs
FXCM Instruments

FXCM Review

Commission and Fees

Commission and Spread Fees

FXCM offers tight spreads starting from 0.2 pips on EURUSD. The broker offers commission-free trading as well. However, the broker also charges a commission fee starting from $2.5 per lot per side for some asset classes.

FeeStandardRaw Spreads
Commission (per standard lot per side)$0$2.5
Spreads from0.20.0
FXCM Fees

Deposit and Withdrawal Fees

FXCM does not charge any deposit fee. But there is a $40 withdrawal fee for withdrawing via wire transfers.

Inactivity Fees

FXCM charges an inactivity fee of $50 after 12 consecutive months of account dormancy.

FXCM Review

Platforms and Tools

FXCM’s platforms include its own Trading Station, MetaTrader 4 (MT4), TradingView, and NinjaTrader 8, all of which offer algorithmic trading. FXCM also provides ZuluTrade for social copy trading and Trader Workstation for stocks, both powered by Interactive Brokers. In addition, the broker useful tools such as VPS, hosting for its clients who want to automate their trading 24/7.

Trading Station

For professional traders, the Trading Station platform offers up a world of potential prospects with bespoke indicators, strategy optimization, strategy backtesting, and powerful charting. Some of the most successful traders employ automated systems to remove the human factor from trading. Automated strategies may be introduced to Trading Station Desktop with a few mouse clicks. Because of the breadth and scope of FXCM’s trading pool, you get access to significant market data. Trading Station’s distinctive Real Volume indicators, which are pre-loaded on Trading Station, provide you with unrivalled access and strategy support based on real market sentiment. The Speculative Sentiment Index (SSI) is a patented contrarian indicator that is meant to assist you in trading trending markets. The index ratio indicates whether traders are net-long or net short a certain currency pair and to what extent. The Trading Station Mobile platform enables retail traders to access the FX market fast and simply. Trades can be placed and maintained on the move because of their simple, user-friendly interface, which was built from the bottom up to work flawlessly on mobile devices.

FXCM Trading Station Platform
FXCM Trading Station Platform

The following are the key elements of the Trading Station:

  • FXCM’s News and Economic Calendar, which is integrated into the site, helps you avoid missing important events.
  • The key trading levels are currently within reach! Get immediate access to some of FXCM’s most powerful trading tools.
  • Keep a copy of your user profile and chart settings. Share your graphs with your friends.
  • Improve your overall trading with tailored Trading Analytics sent directly from the platform.
  • Expand your charts to fill the entire screen, or detach them and move them to a second monitor for more workspace.
  • Trade Straight From the Charts.
  • Choose from a plethora of pre-programmed indicators.
  • Change the format and frequency of the chart.
  • You may have access to both technical analysis and fundamental data.
  • Instruments with price overlays are compared.
  • Create price alerts.

MetaTrader 4

This is the most popular trading platform. It already has dozens of tools and apps that provide new functionality to the platform. FXCM does not impose any restrictions on traders’ usage of the MT4. It is accessible as a downloaded Windows desktop programme as well as a mobile app for iOS and Android smartphones.

MT4 Platform
FXCM MT4 Platform

Here are some of the MT4 trading platform’s features.

  • For technical analysis, interactive charts and built-in indicators are useful.
  • Real-time asset quotes.
  • Supports the use of Expert Advisors to automate tactics (EAs).
  • Access to the MetaTrader market, where traders may buy more than 1,700 EAs and 2,000 technical indicators.
  • The platform is available in more than 35 different languages.
  • There are news and notifications available.
  • Free VPS for big volume traders. Social trading is offered directly from the MT4 platform.

Ninja Trader

Open an account with NinjaTrader and benefit from FXCM’s extensive network of forex liquidity providers, which includes worldwide banks, financial institutions, prime brokers, and other market makers. The NinjaTrader is an industry leader with powerful analytics, charting, and automation tools with full FX capability.

NinjaTrader
NinjaTrader

Here are the cool features of Ninja Traer:

  • Chart Trader
  • Advanced Charting
  • Automated Trading
  • Order Entry
  • Advanced Trade Management
  • Backtesting and Optimization
  • Market Analyzer
  • Risk-Free Demo Account
  • Advanced Alerts

ZuluTrade

This is only available to clients in the United Kingdom. ZuluTrade is the world’s top social trading platform. Clients that are interested are sent to the ZuluTrade portal, where they may select from a variety of signal sources and automatically duplicate their trades.

ZuluTrade
ZuluTrade

TradingView

TradingView is a social network for Forex, Futures, and Stock market traders and investors! You may use TradingView every day and conduct your demo and live trading with FXCM since it includes live quotes, stock charts, and expert trading suggestions.

TradingView
TradingView

API Trading

An application programming interface (API) is a collection of definitions, protocols, and tools used in the development of application software. In general, it is a set of precisely specified communication protocols between diverse software components. FXCM provides four FREE APIs, each of which connects directly to FXCM’s trading server: a REST API, a FIX API, a Java API, and a ForexConnect API.

REST (Representational State Transfer) API: REST (Representational State Transfer) API is a web-based API that uses a WebSocket connection and is designed with algorithmic trading in mind. Developers and investors may construct bespoke trading apps, connect them to the platform, backtest strategies, and build trading robots. Calls may be made in any language that understands a basic HTTP protocol.

FXCM uses the new OAuth 2.0 protocol for token authentication. This enables more secure application access and is readily integrated with online apps, mobile devices, and desktop platforms.

The API has streaming capabilities and will push data in JSON format thanks to the use of the socket.io package. Your application will have access to real-time streaming market data, will be able to get historical prices, will be able to subscribe to real-time updates to trading tables, and will be able to conduct live trades.

The broker provides a Python wrapper that integrates seamlessly with Jupyter Notebook. In addition, FXCM also gives real-world examples of how to use FXCM data to develop and test strategies on popular platforms such as BT Analysis, QSTrader, Zipline, and QuantConnect.

FIX API: A FIX Protocol standard built for real-time, specialised institutional interfaces that can provide up to 250 price updates per second (not available on other APIs). It’s the quickest and most popular option. At FXCM, you will have access to the entire spectrum of trading order types. A $5,000 minimum balance in an FXCM Trading Station account is required.

JAVA API: Java API, a FIX API wrapper SDK, gives customers a fully functional programmable API into the FXCM trading platform. It has live streaming pricing as well as historical prices for live trading. It is scalable, lightweight, and resilient, and it works with any Java-compliant operating system.

FOREXCONNECT API: The ForexConnect API provides the same capabilities as the robust FXCM Trading Station. This covers all order types, streaming live prices, managing your positions, obtaining historical instrument rates, receiving account reports, and more. ForexConnect is FREE and supports C++, C#, Java, VB, VBA, and it is compatible with.Net, Linux, iOS, and Android, and it supports C++, C#, Java, VB, VBA.

Capitalise AI

FXCM and Capitalise bring you AI trading. This one-of-a-kind relationship and platform enables you to execute code-free strategy automation just by inputting your concept. Enhance your trading with simple, intuitive, and code-free automation. Capitalise.ai monitors real-time market data, technical indicators, and macroeconomics for you 24 hours a day, seven days a week. Open as many strategies as you wish — Only triggered strategies will utilise your purchasing power. Use historical data to analyse how your plan might have fared in the past. Using real-time data, you may test your methods without risk. Gain insights from each trade’s extensive and detailed facts. With the press of a button, you may modify your plans based on their results. Use the Capitalise.ai app on your iPhone or Android to manage your trades on the fly; edit, halt or automate new trading methods.

Capitalise AI
Capitalise AI

VPS

A Virtual Private Server (VPS) is crucial for traders who use complicated trading systems and Expert Advisors (EAs) that demand ongoing connectivity but do not require the trading platform to run on their own workstation. To provide this service to its clients, FXCM has teamed with two well-known VPS providers. ‘Beeksfx.com’ and ‘Fxcolo.com’ are the VPS providers.

Live Charts

FXCM provides advanced real-time charts for a variety of trading instruments. There are ten chart kinds and more than a dozen periods. There are approximately 80 technical indicators on the charts. TradingView, a well-known financial research organisation that offers charting and analytical services, provided the charting package.

Specialty Platforms

FXCM provides its clients with the ability to trade on any of the following specialist platforms upon request:

  • QuantConnect
  • MotiveWave
  • AlgoTerminal
  • Sierra Agena
  • Trader Chart
  • NeuroShell Trader
  • StrategyQuant
  • SeerTrading

FXCM Platforms Summary

PlatformFXCM
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)x
cTraderx
Proprietary
Desktop
Web
Mobile
Social Trading
Other
FXCM Platforms

FXCM Review

Research and Education

FXCM offers a ton of educational and research resources. Several trading articles are available to help new traders learn the ropes. These articles start with terminology, fundamental principles, indicators, and trading techniques and go to trading strategies. The website includes a vocabulary of approximately 45 pertinent trade words. The video library includes lessons on platform use, forex introduction, order kinds, and mobile platform usage.

Market Updates

The worldwide market news is updated multiple times during the day. It provides the most recent news and events in the economic activity of many nations. The forex and other financial markets are covered in the news.

Economic Calendar

The FXCM economic calendar highlights worldwide economic events that have an impact on trading instrument prices. You may look up events and compare analyst consensus to historical data. The calendar also provides trade suggestions.

FXCM Plus

This is a collection of tools meant to help traders. It includes daily trading signals, a technical analysis tool, and trade analytics. During trading hours, the daily signals are created and updated in real-time. To find trading opportunities, the technical analyst uses indicators and charts. Trading analytics detects trade errors and optimises your trading for improved results.

FXCM Plus
FXCM Plus

Apps

This is a market area where platform-tools may be purchased or downloaded for free. Over 50 MT4 applications, 50 Trading Station apps, 10 NinjaTrader apps, and 10 standalone programmes are available in the shop. The applications mostly consist of automated techniques, indicators, and addons.

Market Analyser

This technology searches the markets and generates five distinct sorts of signals. It can scan forex and CFDs using the indicators and periods selected by the customer.

Technical Levels

This is a free daily email brought to you by Trading Central, a professional research organisation that offers technical analysis and daily market commentary on a variety of instruments. The newsletter is called “Before the Bell,” and it is distributed by email. It includes daily asset assessments as well as chart analysis.

Trade Volatility

This tool tells about market sentiment and volatility across different trading instruments.

FXCM Research and Education Summary

ResourcesFXCM
Market Analysis
Guides
Videos
Webinarsx
Autochartistx
Trading Central
Economic Calendar
Other
FXCM Resources

FXCM Review

Deposit and Withdrawal

FXCM has multiple payment options for deposits and withdrawals, including wire transfers, debit/credit cards, and e-wallets.

FXCM Funding Summary

Payment MethodDepositWithdrawal
Wire Transfer
Credit/debit Card
Electronic Wallets
Cryptosxx
FXCM Funding Options

FXCM Review

Regulation and Safety

FXCM Group of companies is registered and regulated in different jurisdictions. The broker has the following regulation licences:

  • FXCM South Africa (PTY) LTD: the Financial Sector Conduct Authority (FSCA)
  • FXCM Australia Pty. Limited: the Australian Securities and Investments Commission (ASIC)
  • Forex Capital Markets Limited: the Financial Conduct Authority (FCA) of the UK

FXCM Regulation Summary

RegulatorFXCM
ASIC (Australia)
IIROC (Canada)x
CySEC (Cyprus)x
SFC (Hong Kong)x
JFSA (Japan)x
MAS (Singapore)x
FINMA (Switzerland)x
FCA (UK)
CFTC (USA)x
Other (FSCA)
FXCM Regulators

FXCM Safety

FXCM employs Secured Socket Layer (SSL) encryption on all of its websites and platforms. SSL encryption safeguards data transfer between clients’ computers and FXCM’s servers, keeping hackers out of the picture. This is critical because identity thieves and online fraudsters may attempt to steal sensitive user information such as credit card numbers, verification papers, and user accounts. All customer funds are maintained in separate bank accounts. These accounts are held in top-tier banks in Europe, Australia, and other FXCM countries of operation. In Australia, for example, customer money is kept by Citibank, Australia, a well-established multinational bank. The ‘Financial Services Compensation Scheme’ insurance provides additional protection for European clients’ funds (FSCS).

FXCM Review

Client Support

FXCM offers clients support during weekdays (24/5) via live chat, WhatsApp, phone, and email.

FXCM Review

Conclusion

FXCM is a seasoned broker with several regulatory licences. The broker has invested in cutting-edge technology solutions to assist in providing clients with favourable trading circumstances. The award-winning proprietary Trading Station is brimming with useful features for traders of all levels and sorts. FXCM also supports the widely used MT4 platform. With the advent of sophisticated NinjaTrader and other APIs, FXCM has become a broker with many options based on individual trading needs. FXCM has formed alliances with respected professionals in order to provide its clients with top services. Partnerships with TradingView, Trading Central, and VPS providers are examples of this. However, when compared to other brokers who provide thousands of assets, the amount of tradable assets accessible is quite restricted.

Everything that you find on InvestingBrokers.com is based on information and data that is readily available from each broker that we have reviewed. We combine our 15+ years of industry experience with research, analysis and user feedback. This enables us to give an impartial and reliable broker rating. You can read more about our broker review process here.

FXCM Review

FAQs

When was FXCM founded?

FXCM was founded in 1999.

Where is FXCM located?

FXCM is located in London, UK.

Is FXCM regulated?

FCA, ASIC, and FSCA regulate FXCM.

What trading instruments does FXCM offer?

FXCM offers trading instruments from forex, commodities, cryptocurrencies, shares, indices, and baskets.

What is FXCM’s minimum deposit?

FXCM’s minimum deposit is $50.

What investing platforms does FXCM offer?

FXCM offers Trading Station, MT4, Ninja Trader, ZuluTrade, API, and TradingView.

What is FXCM’s commission fee?

FXCM offers commission-free trading.

Does FXCM charge an inactivity fee?

FXCM charges $50 as an inactivity fee from the accounts that have not conducted any trading activity for consecutive 12 months.

What are FXCM’s spreads?

FXCM offers tight spreads starting from 0.2 pips.

What funding options does FXCM offer?

FXCM has wire tranfers, Debit/Credit cards and e-wallets available for processing transactions.

Does FXCM offer demo trading?

Yes, FXCM offers demo trading.

Does FXCM offer Islamic accounts?

No, FXCM does not offers Islamic accounts.

How do I contact FXCM customer support?

FXCM offers 24/5 customer support via live chat, WhatsApp, phone, and email.
FXCM Review
FXCM Review
Minimum Deposit: $50
Richard Montana

Richard Montana

Richard has spent many years researching, testing, comparing and reviewing brokers. He has an extensive knowledge when it comes to understanding what to look for in a broker for trading and investing online.

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