Important Basic Information about FXCM
Reviewed broker: FXCM
Company: Global Brokerage Inc. (Forex Capital markets LLC)
Established in 1999
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Note: 2017 – Forex Capital Markets LLC in USA has been banned by US National Futures Association NFA, license withdrawn from US Commodity Futures Trading Commission CFTC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
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
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
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.
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.
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.
Read about the basics, learn strategies and take your trading to the next level.
Build your knowledge. Select from our library of in-depth trading, strategy and instrument guides.
What interests you most? Forex basics, platform functionality, trading strategies, account support and more.
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 service can be reached via phone, email, trading desk and online chat