FXCM Review
Overview
Forex Capital Markets or FXCM is based in United Kingdom and has been around since 1999.
At the moment, FXCM are regulated by the FCA in the UK, FSCA in South Africa and ASIC in Australia. The company has offices around the world, with locations in South Africa, Canada, Germany, Greece, Hong Kong, Israel, Italy, France, Australia and the UK.
Traders enjoy enhanced execution and trade with rates provided by global banks, financial institutions and other market makers, making low variable spreads possible.
Account
A Standard account with a $300 minimum for new and experienced traders who want to make the most of FXCM’s trading tools.
The average Standard Account spread is 1.2 pips** for the EUR/USD pair. Active Trader accounts are available with minimum deposit of $25,000, for special services.
The broker also offers a demo account that expires after 30 day of inactivity. All trading platforms are available for use on the demo accounts for you to try.
Minimum deposit
Starting $300 for standard accounts and up to $25,000 for Active Trader accounts.
Maximum leverage*
30:1 up to 1:400 leverage (depending on country of origin, Instruments traded and account balances). In some regions major currency pairs default to 30:1, non-major currency pairs, gold and major indices default to 20:1, commodities other than gold and non-major equity indices default to 10:1 and cryptocurrencies default to 2:1.
Features
FXCM offers a proprietary trading platform Trading Station with a user-friendly and intuitive environment. It also offers Meta Trader 4.
Available orders include Entry orders, Limit Orders, Stop Loss & Take Profit. . At Best feature, as opposed to Market Range, lets you trade at the best price coming in from global banks FXCM works with.
Clients can directly connect with API Trading to the brokers’ price server.
Education
Rich resources in the form of market insights, forex videos, economic calendars, trading guides and more are available.
Deposits/Withdrawals
Deposits offered via debit or credit card, bank wire, Skrill, Union Pay and other options, taking 1 to 2 business days. Withdrawal forms are processed in 1 to 2 business days.
Withdrawals can be made through bank wires, debit or credit cards and other options.
Customer service
24/5 chat available, along with email support, and toll free numbers in various countries including Berlin, Sydney and UK.
