FXCM broker Review: the Ultimate Trading Platform and Complete Guide

If you're looking to dive into the world of forex, spread betting, and CFD trading, you're probably on the hunt for the ideal trading platform. Well, let me be your guide as we take a closer look at FXCM, or Forex Capital Markets. This is the kind of stuff that traders dream of – a platform that offers comprehensive features and benefits.

So, what makes FXCM stand out from the pack? Let's break it down.

The FXCM Trading Platform:

Imagine entering a vast, uncharted territory. You want to navigate through it seamlessly, right? Well, that's what FXCM offers you. The platform is like the trusty map that guides you through the intricate world of trading.

Whether you're a newbie or a seasoned trader, you'll find FXCM's platform incredibly user-friendly. It's like they knew what questions you had in mind and provided answers in their FAQs section. You won't be left in the dark. Plus, their knowledge base and educational center? That's a treasure trove of trading wisdom. From video tutorials to in-depth written content, they've got it all. And if that's not enough, you can take advantage of their seminars, webinars, and online classrooms. It's like having a personal mentor.

Newcomers, pay attention. FXCM lets you dip your toes into the trading waters with a Demo account. Learn the ropes without risking your hard-earned cash. It's all about making smart choices, and FXCM helps you do just that.

Opening an FXCM Account:

You've found the treasure map; now it's time to start your journey. Opening an account with FXCM is a piece of cake. It's as easy as pie, no matter if you're on a desktop, laptop, Mac, or even a mobile device. You're in control.

For those looking to dive in headfirst, the minimum deposit is just £300. Once you're in, the real fun begins. Live traders, this is where it gets exciting. Real-time updates and alerts are at your disposal, and FXCM's analytics provide invaluable insights into your trading habits.

MetaTrader 4:

When it comes to trading, flexibility is key. FXCM understands this and offers not one, but two main trading platforms. The FXCM Trading Station is a solid choice, but let's not forget about their MT4 offering. It's the best of both worlds.

And if you're a small hedge fund, retail broker, or part of a new market bank, you're in for a treat. The FXCM Pro account is your ticket to wholesale executions. Plus, high- or mid-frequency funds can take advantage of the FXCM Prime accounts.

Trading Instrument:

A trading platform is only as good as the markets it offers, and FXCM doesn't disappoint. You can dive into the world of:

• Forex pairs
• CFDs, including Australian shares
• Cryptocurrencies
• Commodities, like oil and gold
• Global stock indices

But here's the kicker: FXCM doesn't just cater to the manual traders. They've got algo trading for those who prefer to automate their strategies. It's all about choice.

Spreads and Commissions:

We all want to keep more of our hard-earned cash, right? FXCM gets it. They offer low spreads on popular currency pairs, like EUR/USD and GBP/USD. Plus, in 2022, they slashed their fees by up to 54% on certain assets and indices. The goal? To make your trading journey more cost-effective.

And here's the good news: you won't face charges for fund deposits, and standard traders won't have commissions eating into their profits. FXCM calculates their charge within the spread cost, and it's done automatically when trades are executed. There's an overnight cost for positions held at 5 pm Eastern US time.

But if you're an Active Trader account holder, your fees drop even more. Yes, there's a commission per trade, but it's a small price to pay for the perks. Just keep an eye on currency exchange commissions, which vary depending on your trader account.

FXCM is all about providing some of the lowest spreads in the market, especially for active traders and institutional investors.

Leverage:

Leverage is the name of the game in trading. FXCM complies with European Securities and Markets Authority standards for retail clients. You're looking at leverage of 30:1 for major currency pairs, 20:1 for minor currency pairs, major indices, and gold, 10:1 for non-major indices and other commodities, and 2:1 for cryptocurrencies. It's all about striking the right balance.

FXCM Company Details:

FXCM isn't just another newcomer to the trading scene. They've been around since 1999. In 2015, they joined forces with Leucadia Investments, a part of the Jefferies Financial Group merchant banking organization. In the UK, FXCM is regulated by the Financial Conduct Authority, ensuring your peace of mind. Subsidiary companies in Australia and South Africa are regulated by their respective authorities.

With offices worldwide, including Berlin and Sydney, they've got a global presence that speaks volumes. They cater to over 130,000 global customer accounts and have earned several prestigious industry awards. This platform isn't just for private traders; institutional investors also swear by it.

FXCM Mobile Apps:

In the modern world, we're always on the move. FXCM gets it, and that's why they've got you covered. Their Trading Station platform is available for desktops, in web format for Macs, and on mobile devices.

The mobile platform is a powerhouse, giving you quick and easy access to global forex markets from anywhere with a WiFi signal. You can download the Trading Station app from the Apple App Store or Google Play.

Keep in mind, though, that the smaller screens on mobile devices mean you might need to do some extra scrolling. Plus, there's the potential for order duplication or price latency. It's a small trade-off for the convenience.

Payment Methods:

FXCM knows that convenience is key. They offer a variety of funding methods, including:

• Bank or credit card payments (processed the same day)
• Bank wire funding (1-2 days for local clients, 3-5 days for international clients)
• Skrill and Union Pay payments (1-2 days to hit your account)
• PayPal, Apple Pay, and Google Pay (deposits within 30 minutes)

The best part? The same methods work for withdrawals, making your life easier. Just remember, if you want to withdraw a larger sum, it might have to be done via bank transfer.

Demo Account:

For those who are new to the world of finance and trading, FXCM offers a lifeline: their Demo account. This is your chance to get comfortable with trading forex and CFDs without the risk. With £50,000 (or euros or US dollars) in dummy capital, you can explore the exciting world of 24-hour trading.

Choose your preferred platform and make use of all the educational tools available to regular traders. It's a safe and risk-free way to learn the ropes.

Deals and Promotions:

While FXCM may not be showering you with promotional deals, they've got something even better: a vast range of free apps. These apps are like little nuggets of gold for traders. Plus, the ZuluTrade peer-to-peer auto trading platform lets you mirror the strategies of other traders based on their signals.

Regulation and Licensing:

Traders, you need to trust your platform, right? FXCM is authorized and regulated by the Financial Conduct Authority in the UK, with a backup license from the Cyprus Securities and Exchange Commission (CySEC) for trading within the European Union. You're in safe hands.

While FXCM said goodbye to the US market, they're ASIC authorized in Australia and in South Africa. Trust is the name of the game here, but remember, all trading comes with risks.

Choose your trading account based on your needs:

• Standard account for retail customers
• Active Trader accounts for higher volume traders with reduced commissions
• Professional trading accounts for those with substantial trading expertise

Trading Hours:

The trading hours vary between products, so keep an eye on the clock. Forex trading opens on Sundays at around 5:00 pm ET and closes around 4:55 pm ET on Fridays. CFD trading tries to stay as close to market times as possible.

Contact FXCM:

If you need assistance, FXCM has your back. You can reach them via phone, email, or postal address. Plus, there's the Live Chat option on their website. They're ready to assist.

• Phone: +44 (0)207398 4050 or toll-free at 0808 234 8789
• Email: info@fxcm.co.uk
• Postal Address: 20 Gresham Street, 4th Floor, London, EC2V 7JE, UK

Safety and Security:

Safety is paramount in the world of trading. FXCM knows this, and they've got your back. They ensure secure access to their platform, and for clients trading over £500,000 monthly, there's the option to enhance security with a virtual private server.

FXCM also keeps all retail client funds in segregated global bank accounts. That means your money is safe from creditors if the business were to face any challenges. In certain circumstances, clients could even be eligible for compensation up to £50,000.

The Pros and Cons:

As with anything, there are pros and cons. Let's lay it all out for you.

Pros:

• FXCM offers four powerful platforms, including MT4, Capitalise.AI, and their proprietary solution.
• Premium support and custom solutions in the Active Trader professional account.
• Excellent trading tools, including a market scanner, forex signals, and access to a reputable research site, eFXplus.
• A strong selection of educational materials, including a new trader guide, market outlook reports, and free webinars.
• Impressive global regulatory status with four reputable licenses from the FCA, ASIC, CySEC, and FSCA.
• A range of funding methods, including bank cards, Apple Pay, and PayPal, with instant processing times.

Cons:

• Live chat support can be unreliable.
• The range of assets and trading vehicles isn't the widest.

In the world of trading, having the right platform can make all the difference. FXCM checks many of the boxes that traders look for. Whether you're a beginner or an experienced pro, they've got something for everyone. Their wealth of educational resources, intuitive platform, and global regulatory status make them a contender worth exploring.

If you want to tread the waters of forex, spread betting, and CFD trading, FXCM might just be your guiding star.

FXCM Broker Details

Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.