FXCM Review 2023: Pros, Cons, Fees & Features

Zulu Trader has over 1 million users, making it one of the larger social trading communities available. FXCM is especially proud of their own Trading Station II (not to be confused with another platform TradeStation). It was built based on the feedback from FXCM traders and trading data accrued from over 10 years to meet the needs of their clients. FXCM can be compensated in several ways, which includes but are not limited to adding a mark-up to the spreads it receives from its liquidity providers, adding a mark-up to rollover, etc. Commission-based pricing is applicable to Active Trader account types.

  1. To learn more about social copy trading (and to see our picks for the best forex brokers for copy trading), check out our guide to copy trading.
  2. A trader can withdraw even CAD 1 from their trading account.
  3. Take advantage of the platform’s intuitive interface and great tools.
  4. That being said, not all regulator licenses carry the same weight.

Nearly every trader on the planet owns a smartphone, but that doesn’t mean that every mobile trading app offers the same forex trading capabilities. A wide range of mobile trading apps are available across the globe – some of which are developed in-house by online brokers, while some are developed by third-party developers. Since every asset has its own fee, and this is constantly changing based on the market, you can get the precise infor at that time through the brokers trading platforms.

In conjunction with our sister site, ForexBrokers.com, we’ve published well over 100,000 words of research and collected thousands of data points across hundreds of variables. Our in-depth trading guides are created with the same rigorous, data-driven approach. Yes; in case you were wondering, 78% of the brokers reviewed on BrokerNotes.co offer copy trading. To learn more about social copy trading (and to see our picks for the best forex brokers for copy trading), check out our guide to copy trading. 92% of the brokers in our database (60+) offer Visa/Mastercard, 78% offer Skrill, 70% offer Neteller, and 44% offer PayPal.

Thank you for your understanding and kind words, Sunil Gandhi! So if you ever need anything else, do not hesitate to let us know. We were privileged to have the opportunity to serve you, iliya! FXCM has a Trust Score of 95, compared to the industry average of 83, and BrokerNotes.co considers FXCM to be Highly Trusted.

No Rollover fees campaign makes FXCM…

With a strong commitment to customer support, FXCM serves clients from various locations, maintaining a global chain of offices across the US, UK, Australia, France, and Italy. I use them in tradingview and I have all my charts marked up on there. But I think I’m going to have to start over and switch all my charts to OANDA because the markets are open and everyone else’s servers are moving except FXCM lol. So markets are open but your servers don’t start till 6 am GMT time? It sucks because all my levels and markups are on FXCM server pairs and now I have to go back and re-mark up my OANDA charts but in the end it’ll be worth it. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com.

Service Details

I have tried other Forex companies but will now only trade with FXCM. I find their trading platform easy to use and have never had a bad experience. I have always been treated with respect and courtesy would recommend them 100% to new traders.

Determining the legitimacy of a forex broker (and avoiding forex scams) can be a real challenge. Unregulated brokers do not have to report to a governing body. If your broker lacks regulation, and you are scammed in any way, you often have no recourse for recovering your funds. That being said, not all regulator licenses carry the same weight. It also offers extensive charting analysis with a huge range of additional charting tools.

I got help from Rai Bashatat from FXCM…

Hello Steven,We sincerely apologize for the inconvenience you experienced due to the server issue while using FXCM through TradingView. We understand how frustrating such interruptions can be, especially when you’re in the midst of trading decisions. We want to assure you that the server issue has been resolved.Should you encounter any further difficulties or if you need assistance, please don’t hesitate to reach out to our support team.

We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. We are glad to hear you have been left satisfied with our service, Talal Alsharougi!

All of your charting analysis through the platform can also be retained through a convenient cloud service. This adds to the already very accessible nature of the trading platform and it is an excellent addition to the FXCM offering. The FXCM minimum deposit is $50 (for non-EU and UK clients). Depositing with the broker is typically instant in most cases depending on the method you use.

FXCM Downloadable Tools

FXCM caters to most international traders, including residents of UK, Australia, South Africa, and Malaysia. Like most international brokers, FXCM does not accept US traders. The asset selection at FXCM remains somewhat limited but sufficient for trading strategies requiring fewer highly liquid assets. It is unfortunate there is not a wider choice of Forex currency pairs as the infrastructure implemented by FXCM provides excellent trading conditions.

Founded in 1999, FXCM (a Jefferies Group company) is a long-standing brand that caters to global forex and CFD traders. FXCM offers multiple trading platforms for algorithmic trading and social copy trading, along with a proprietary platform suite (and access to MetaTrader 4). FXCM is also a great option for beginners due to its wide range of educational materials and easy-to-use platforms (including integration with the popular TradingView platform).

Why one should trade with FXCM?

Our FXCM review found the forex broker offers one of the extensive choices of trading platforms from all online brokers. Not only does FXCM offers a choice of 4 trading platforms (2 of them the best social trading platform) the broker also offers 7 speciality platforms. FXCM, also known as Forex Capital Markets, is a global forex provider trading with various FXCM entities in the UK, Europe, Australia and South Africa. Our FXCM review concluded that FXCM has a simple but helpful account type structure, average spreads, a hybrid trading execution model and a good range of trading platforms. Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.

FXCM is the best broker

Plus, they also have EAs & news feed available in their platforms. When making a deposit into your account with a credit card or debit card (Visa or MasterCard) there is a minimum of $50 per deposit and a limit of $30,000 per month fxcm canada review for all FXCM clients. Commissions with most other brokers are $7.00 round-turn, while Active Traders can be as low as $5 round-turn. If you subtract 0.2 pips from each spread, then the spreads appear to be more competitive.

We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Our editorial team is led by Steven Hatzakis, an industry veteran with decades of experience and a deep understanding of the forex market. Our team conducts thorough testing on a wide range of brokers, platforms, products, technologies, third-party trading tools, and mobile apps. We also test for the availability of high-quality educational content, actionable market research resources, and the accessibility and capabilities of mobile platforms. All of our ratings and rankings are based on the collection and validation of thousands of data points and our in-depth product testing.

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