FXCM Review

FXCM Review

Author
  • Website
  • Trading Platforms
  • Support

FXCM is a leading world-wide provider of foreign exchange trading and related services to retail and institutional customers. FXCM, founded in 1999, was the first forex broker to be listed on the New York Stock Exchange.

FXCM offers over 50 currency pairs which can be traded from any one of FXCM’s trading accounts. There are several accounts to choose from including the popular MetaTrader 4 and FXCM’s own ‘Trading Station’ which allows a trader to access the Forex market quickly and easily from nearly any computer with an internet connection. There is no software to download and the platform works on Apple® and Window® computers.

A trader can also choose to use FXCM’s specialty platforms—Mirror Trader, Ninja Trader and Zulu Trader. Practice accounts are available for novice traders with any of these platforms with $50,000 in virtual funds. Available accounts include Basic, Premium, and Active Trader account types. All traders have access to FXCM’s 24/7 Live Support and online education materials.

Low Leverage

In 2007, FXCM introduced No Dealing Desk (NDD) execution for forex transactions with a goal of providing a more efficient and fair model for pricing and execution than existed till then.  Their NDD prices are competitive and market-driven and NDD execution is transparent and fair.

FXCM believes in reducing trader losses and offers a low 50:1 leverage on its Forex trading accounts. Minimum deposit is $100.00. There are no fees for withdrawals.

The broker’s resource room offers educational material such as videos on a number of forex topics, instructional texts and live webinars.

FXCM Holdings, LLC maintains its headquarters in New York, with offices in the U.K., Japan, Hong Kong, France, Italy, and Australia. It is regulated and licensed in each of them.

FXCM has received numerous awards from the forex trading and investment community, including Overall Client Satisfaction from Investment Trends (2012), Best Currency Broker from Shares (2008), Best Retail Foreign Exchange Platform from FX Week (2009 and 2010) and Best Foreign Exchange Specialist from Technical Analysis of Stocks & Commodities (2008).