Since 1999, FXCM review research shows that the broker is an iconic brand in retail currency markets as a pioneer in developing online forex deals for retailers. It has a license in several major regulatory centers around the world and provides FXCM MT4 and other great platforms for traders.
Thanks to its headquarters in London, FXCM has grown into many international offices. In 2017, FXCM left the US market and no longer accepted US customers. As part of this process, part of the shares was reorganizable as Global Brokerage (NASDAQ: GLBR).
GLBR owns shares in this company. On December 11, 2017, Global Brokerage filed for bankruptcy protection in Branch 11 in New York court.
The FXCM review shows that the group has no involvement in filing for bankruptcy, and the restructuring of GLBR will not affect its clients following the registration documents.
The FXCM Group has many entities in other major jurisdictions, including regulated entities in the United Kingdom, Australia, and indirectly affiliated offices in Canada, South Africa, and Japan.
FXCM Trading Station
The FXCM Trading Station is a proprietary forex and CFD trading platform which offers you as the trader, powerful analytical tools. Our FXCM review research revealed you could use them for charting, advanced functionality, and so much more.
FXCM MT4 is not the only platform you will have to use. You can get mobile apps from an Appstore too. They offer access to software built by autonomous developers. They also provide comprehensive options for merchants to connect via the public API.
Among the things you will get when using the FXCM Trading Station, include:
- News and calendar
- Education and research
- FXCM cloud access
- Trading analytics
- FXCM charts
It is also possible, as we found in our FXCM review, to have the FXCM Trading Station on mobile, for easier access when you are not seated at a desktop computer.
Besides, it has an intention for algorithm traders and provides news and research within the global offers available under the FXCM brand.
FXCM Demo Account
If you want to get used to the way FXCM works, you can use their demo accounts with $50,000 in virtual currency. They also have a Mirror Trading Platform where you can start with balances of $10,000 and higher.
It is auto-traded with multiple positions open at any one time. To get how they work, you will need a demo run. Just like FXCM MT4 or any other platform, you need to know how it works so you can use it properly.
FXCM Minimum Deposit
The minimum deposit here is $50. However, you are not only limited to American dollars. You can deposit 50 units of the currency you use, as long as it is a currency in which they accept deposits.
They offer competitive commission rates for standard accounts and Active Trader account holders. Spreads are more extensive for free mini account holders who only have access to 21 currency pairs. It is within comparison to 39 standard and active merchant account pairs.
Their research forex tools are developed in conjunction with Grid Sight Technologies LTD, which is provided as an indicator. These tools include premium content from Trading Central, press headlines from Investing.com, and a market research tool, pattern recognition scanner.
It is worth noting that FXCM MT4 and other features are not the only great things about the company.
Our FXCM review shows that they have done an excellent job of incorporating educational information into its research. It also includes webinars and the university program. The broker also published guides on cryptocurrencies.
The UK Financial Conduct Authority (FCA) is the primary regulator of FXCM under license number 217689. In 2014, they fined FXCM for defrauding traders. The fine was £4 million and restitution paid to clients of £6 million. All this happened under a defunct parent company.
At the moment, our FXCM review shows that they have been fully compliant.
FXCM Details Overview
|Established: 1999||Website: https://www.fxcm.com|
|Address: 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom.||Minimum to Open Live: $50|
|Regional Offices: Canada, China, France, Greece, Israel, Italy, and South Africa.||Regulators: The CFTS & the NFA (US), the FCA (UK), the IIROC (Canada), the BaFin (German), the ACP (France), the CONSOB (Italy), the FSB (South Africa, the SFC (Hong Kong), and the ASIC (Australia).|
|Minimum Trade Size: 0.01||Prohibited Countries: Africa: Burundi, Central African Republic, Ivory Coast, Liberia, Libya, Sudan, Zaire, Zimbabwe, Asia: North Korea, Singapore, South Korea, Eastern Europe: Belarus, Russian Federation, Ukraine, Island Nations: Cuba, Vanuatu, Middle East: Iran, Syria, Turkey, South America: Brazil.|
|Maximum Leverage: 1:30||ECN: Yes.|
|Mobile Trading: Available||Currencies: 35+|
|Trading Platforms: MT4, NinjaTrader, FXCM Trading Station.||Cryptocurrencies: 3 including Bitcoin, Ethereum and Litecoin.|
|Robots: Available.||CFD: 25+ including Gold, Silver, Other Precious Metals, Stock Indexes, Oil, Other Commodities.|
|Scalping: Allowed||Web Trading: Available|
|Deposit Methods: : Bank Wire, VISA, MasterCard, Neteller, Skrill.||Withdrawal Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill.|