best forex broker 2018

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fxcm broker reviewImportant Basic Information about FXCM

Reviewed broker: FXCM

Company: Global Brokerage Inc. (Forex Capital markets LLC)

Established in 1999

Location: UK

Regulation: FCA (UK), ASIC (Australia), ISA (Israel), FBS (South Africa)

Note:  2017 – Forex Capital Markets LLC in USA has been banned by US National Futures Association NFA, license withdrawn from US Commodity Futures Trading Commission CFTC

USA traders: not allowed

Trading instruments: forex, commodities, CFDs, Indices

No dealing desk execution NDD: yes, but not for all accounts. Mini account has dealing desk execution

Trading features and account types

Maximum leverage: 1:100

Currency pairs: 39

Demo account: yes

Islamic swap free accounts: no

Account types: mini, standard, active trader

Special features: the broker offers programming services for trading skripts, custom expert advisors, metatrader 4 programming

Spread types: floating

Spreads start from 1.8 pips

Commission on trades: yes (for standard and active trader accounts), starting from $8

Trading signals: available

Educational material: available

Scalping: allowed

Hedging: allowed

Automated trading: yes

VPS services: yes

One click trading: yes

API trading: available with FIX, JAVA and ForexConnect

FXCM  stands by its promise of Transparency

FXCM states its mission to provide complete transparency and execution services for the best experience of the clients. FXCM’s goal is offer tight spreads to improve your trading experience and decrease overall trading costs. The spreads offered by the broker are indeed tight starting on average at  0.2 and 0.2 pips. When you look down the history line of FXCM the following data can be retrieved:

  • EUR/USD averages 0.2 pips during peak hours
  • AUD/USD averages 0.3 pips during peak hours
  • USD/JPY averages 0.3 pips during peak hours

FXCM Highlights on Price improvements 

  • 60.72% of all orders had NO SLIPPAGE.
  • 28.37% of all orders received positive slippage.
  • 10.91% of all orders received negative slippage.
  • 63.55% of all limit and limit entry orders received positive slippage.
  • 40.18% of all stop and stop entry orders received negative slippage.

FXCM Trading Software Platforms review and features

Trading Station with Easy navigation with intuitive design

Trading Station is innovative platform that meets the demands of many traders from different backgrounds and experiences.

Trading Station allows you to gain Desktop, Web and Mobile access in one single platform software. Below are just some of the key features:

  • Explore multiple order types
  • See real-time prices
  • Save time with dozens of preloaded indicators
  • Stay on top of your trades with email alerts
  • access to unique order type Good Till Date
  • Streaming news
  • Exclusive real volume indicators

The Benefits of Metatrader 4 MT4

FXCM has upgraded its MT4 platform to fit the No Dealing Desk forex execution. 

Updated FXCM Metatrader 4 features include:

  • Set SL/TP Pre-Execution - Set Stop Loss and Take Profit orders while opening a new trade
  • 0.01 (Micro) Lots - Trade more precise lot sizes for tighter risk management
  • Partially Close Positions - Control when and how much of a position you want to close
  • Anonymous forex trading since price providers do not see your SL, TP or Pending orders
  • No Trading Conflict of interest between broker and client
  • Place pending orders even inside the spread

Why should you use Metatrader 4 with FXCM broker?

  • No trade restrictions with NDD execution to place SL, TP or pending orders
  • Scalping is allowed
  • All strategies are permited

NinjaTrader Trading Strategy Builder

The Strategy Wizard helps traders design automated strategies, even without proper programming knowledge such as C#. It provides you with the ability to backtest your strategies with the available historical data and check variety of market conditions. You can try out entry and exit points and the associated profit/loss, allowing you to improve the strategies before you run them live.  NinjaTrader also allows developers to develop utomated trading strategies using the C# based NinjaScript.  

ZuluTrader Peer-to-Peer Trading

Auto trading is one of the favored options among beginner traders simply because you do not have to learn everything from top to bottom but rather check out the high performing traders and copy their moves.The best way to get started with ZuluTrade is to try a practice account. Once you are ready to begin live trading you will have to link your Zulutrade account to FXCM and you are ready to go.

FXCM offers access to variety of tools and market resources including educational material

Economic calendar

Keep track of key economic events, speeches, and reports to give your trading an edge.

FXCM market news

Top daily headlines on multiple markets delivered to you perfect for the fundamental trader. 

FXCM CHARTS

Charts and indicators are the go to tool for technical traders to analyse trends and identify potential trade opportunities.

Grid sight index

FXCM introduces big-data analysis with this new and innovative technical indicator for real time analysis.

Market scanner

Pick from the top indicators and scan FX and CFDs to have this tool perform quick analysis and present you with signals.

Daily technical levels

Subscribe to FXCM daily newsletter and receive daily actionable trading set-ups before market open, directly to your inbox.

Educational material with FXCM broker

FXCM University 

Read about the basics, learn strategies and take your trading to the next level.

Trading Guides

Build your knowledge. Select from our library of in-depth trading, strategy and instrument guides. 

Video library

What interests you most? Forex basics, platform functionality, trading strategies, account support and more.

SEMINARS

Attend an in-person seminar, delivered monthly, to gain insight and knowledge.

FXCM LIVE CLASSROOM

Participate in an online classroom with knowledgeable instructors to answer questions live.

 

How do I deposit funds with FXCM? Payment methods and deposit requirements

You can Deposit Funds by the following payment means: 

  • Credit or Debit Card - Approximately one business day, often less to process into your trading account.
  • Bank Wires (SWIFT, CHAPS, BACS, SEPA) -  Approximately one to two business days (domestic) and three to five business days (international), often less, to arrive and process into your trading account. 
  • Paper Cheque - Approximately five to ten business days after receipt to clear and process into your trading account.
  • Skrill -  Funds will typically be credited into your trading account within 1 business day.
  • Union Pay -  Funds will typically be credited into your trading account within 1 to 2 business days

Minimum deposit requirement: $50

Customer Support 

Customer service can be reached via phone, email, trading desk and online chat

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