About its history and mission
FXCM (Forex Capital Markets) was founded in 1999 and is one of the most established brokers in the forex trading industry. Headquartered in New York, FXCM has built a solid reputation for providing online trading solutions in currencies, stocks, commodities, and indices. Over the years, it has grown into a global brand with a focus on transparency, innovative technology, and excellent customer service.
- Founded
- 1999
- Headquarters
- Address
- Website
Strengths and Weaknesses
Strengths
- FXCM has established a very extensive physical presence with offices in countries all around the world
- FXCM have extremely trusted regulation in place by a number of the top bodies in the industry
- FXCM has won more than 25 awards over their years in business
- FXCM has a good range of account type choices available to suit most traders
- There are quite limited options for base currencies
- FXCM payment methods could be expanded upon to provide more choice to traders
- The education section could be expanded to cater a little more beyond just new traders
- Their US ban does not do the broker any favors
Weaknesses
Safety and Regulations
FXCM is a regulated broker in multiple regions, including the UK by the Financial Conduct Authority (FCA) and Australia by the Australian Securities and Investments Commission (ASIC). The broker is also regulated by the National Futures Association (NFA) in the United States. These licenses ensure that FXCM adheres to strict regulatory standards, providing a safe environment for traders. Client funds are held in segregated accounts to prevent misuse by the broker, ensuring that clients' capital is protected in the event of company insolvency. FXCM also provides insurance coverage for clients’ funds, adding an extra layer of protection.
Regulators
- FCA
- ASIC
- FSCA
Instruments Available
Types of Accounts
Standard
- Minimum deposit
- $0
- Commission
- 1.3
- Available tools
- 0
- Leverage
- 1:1 to 1:30
- Margin call level
- 100
- Stop-out level
- 50
Active Trader
- Minimum deposit
- $0
- Commission
- 1.3
- Available tools
- 0
- Leverage
- 1:1 to 1:30
- Margin call level
- 100
- Stop-out level
- 50
Spread Betting
- Minimum deposit
- $0
- Commission
- 1.3
- Available tools
- 0
- Leverage
- 1:1
- Margin call level
- 100
- Stop-out level
- 50
Professional
- Minimum deposit
- $0
- Commission
- 3.0
- Available tools
- 0
- Leverage
- 1:1 to 1:200
- Margin call level
- 100
- Stop-out level
- 50
Fees and Charges
FXCM offers competitive spreads, starting from as low as 0.1 pips on major currency pairs for Active Trader accounts. Standard accounts have slightly higher spreads but do not charge commissions, making them ideal for less frequent traders. Swap rates apply to positions held overnight. These rates are calculated based on the interest rate differential between two currencies and can vary depending on the instrument and market conditions. FXCM charges an inactivity fee after 12 months of no trading activity. Traders should ensure that they maintain regular trading activity to avoid any additional charges.
Trading Platforms
Customer Support
Contact information not available. Visit the broker’s website for support options.
Deposits and Withdrawals
Deposit and withdrawal details not available. Check the broker’s website for the latest payment methods and processing times.
FAQ
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