FXCM Review
- Competitive spreads and low commissions
- Excellent trading platforms
- Decent selection of tradeable assets
- Great customer service and support
- Limited number of tradeable assets compared with some online trading brokerages
FXCM is a leading international online trading brokerage offering traders from around the world sophisticated investment and trading solutions for forex and CFD trading. The brokerage was established in 1999 and in 2015 was acquired by the Leucadia National Corporation which expanded the FXCM brand to a global scale and now operates around the world. Though FXCM is owned by the Leucadia National Corporation, the FXCM brokerage is operated by the FXCM Group which owns and operates a number of online trading brokerages. The FXCM Group is headquartered at 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom, but also has head offices in countries around the world.
The FXCM brand is registered and regulated in a number of jurisdictions including the National Futures Association (NFA) in the US, the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Securities and Futures Commission (SFC) in Hong Kong, and the French Prudential Supervision and Resolution Authority (ACPR) in France. The FXCM trading brokerage was a pioneer in online trading and has gained the respect of professional and retail traders from all over the world. We know that the FXCM online trading brokerage is reputable and trustworthy, but are they the right brokerage for you? Find out in the following review where we’ll delve deep into the aspects that make up this online trading brokerage and see what sets FXCM apart from the competition.
Trading Platform
FXCM features a variety of highly sophisticated trading platforms for their traders to choose from. No matter what experience level you are, FXCM has a trading platform for you. The trading platforms they offer include; Trading Station, NinjaTrader, MetaTrader 4 (MT4), and ZuluTrade. See these trading platforms overviewed below.
Trading Station
This is FXCM’s proprietary web-based trading platform. The platform is intuitively designed and accomodates the needs of both experienced and beginner traders with their user-friendly interface and vast array of advanced tools and features. The Trading Station platform supports a multiple order types, advanced charting, numerous technical indicators, trade automation, and strategy development. This platform is available on desktop computers and mobile devices.
NinjaTrader
This platform is used for trading in the forex, futures and equities markets. The platform features a proprietary NinjaScript programming language for their automated strategy builder. This platform is highly advanced and provides traders with customizable trading solutions.
MetaTrader 4 (MT4)
This is an industry leading platform and is the most popular trading platform in the world. It is used for trading in the forex, futures, CFDs markets. The platform features an extensive array of technical indicators, and programmable services for customized automated trading services.
ZuluTrade
This is a peer to peer trading platform for traders looking for an automated trading approach. Traders can subscribe to automated strategies developed by independent traders around the globe.
Exchange Markets
FXCM features an extensive range of tradeable instruments available to trade across the markets of Forex, Indices, and Commodities. See what FXCM has to offer for these markets in the points below.
Forex
- Over 50 tradeable currency pairs
- Trade Majors, Minors & Exotics
- Trade 24 hours a day, Monday through Friday
- Tight spreads
Indices
- Trade 12 of the worlds best Indices
- Low spreads, enhanced execution
- Tight spreads
- Trade on margin
Commodities
- Trade Oil, Natural Gas, Gold, Silver, Copper, Soybean
- Tight spreads from 2 pips
- Trade on margin
Fees and Commission
FXCM offers traders zero commission trading and very competitive spreads for their currency pairs and CFD instruments. Traders who achieve Active Trader status by reaching a certain trading volume receive deeply reduced spreads of up to 60% across all tradeable assets. As for the average spreads on standard accounts, spreads during peak hours for EUR/USD pairs average at 0.2 pips. Overall, the spreads imposed on the majority of traders are comparable with or better than other online trading brokerages.
Security and Fairness
FXCM is a highly secure and fair online trading brokerage. The broker has years of experience in the online trading industry and has built up an excellent reputation over the years. The broker holds client funds in secure segregated bank accounts and uses advanced SSL encryption technology for securely transferring client data and financial information. Also, FXCM is highly regulated in numerous jurisdictions, which help to ensure FXCM always offers fair and transparent services. Overall, the FXCM trading broker is one of the safest, most secure, and fairest online trading brokerages out there.
Support
FXCM provides their clients with excellent customer support services that are available 24 hours a day, 5 days a week. Support representatives can be contacted through email, live chat, or through telephone. Support is also available in multiple languages, with localized telephone support from 42 countries. Support representatives have been reported to be relatively quick with their responses and very helpful and professional as well. Additional methods of support include the websites extensive FAQ page and informative and comprehensive education center.
Conclusion
Overall, FXCM competently provides investment services for the trading of forex and CFDs on a variety of tradeable instruments. The brokerage is internationally recognized and is regulated by numerous reputable regulatory authorities. Also, FXCM features not one but four highly advanced and popular trading platforms for their clients to choose from. As well, they offer traders very competitive and low fees. Customer support is another area FXCM excels in and they have won numerous awards in this area. All in all, FXCM is an excellent forex and CFD trading brokerage.
FXCM Q&A
The following are the common questions that customers inquired about FXCM.
Is FXCM regulated?
Yes, it is regulated by numerous regulatory authorities from various jurisdictions.
Is FXCM a scam?
No, FXCM is a legit broker with an excellent reputation.
Where is FXCM based?
FXCM is located at 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom.
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