Please be aware that FXCM does not currently support the MetaTrader 5 (MT5) trading platform. However, if you’re looking for a broker that does offer MT5, you can check out our list of recommended brokers available through the provided link. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.
- When selecting a broker such as FXCM, one of the most critical factors to consider is the broker’s regulatory body and regulatory status.
- If you are unsatisfied with FXCM or want to explore other options, we recommend checking out our carefully curated list of highly-rated FXCM alternatives.
- Trading Centrals Alpha Generation Indicators can help FXCM traders better understand market trends and patterns, enabling them to make more informed trading decisions.
- The commission depends on the currency pair traded, type of trading account, and the volume traded.
Ninja Trader 
Even better, MT4 is available in web, desktop, and mobile versions. The desktop version is compatible with Windows, Linux, and Mac OS, while the web-version is accessible through all major browsers. The mobile version is compatible with iOS and Android devices and can be downloaded for free on Google Play Store and App Store. If you’re contacted unexpectedly by a financial business or individual, make sure you reply using the contact details on the FS Register. If you deal with this firm, you won’t have access to the Financial Ombudsman Service if you have a complaint.
Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years of experience in financial analysis, forecasting, and financial modelling, identifying new market opportunities in Stocks, CFDs, Forex and Commodities. It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions. Although we found some very useful aspects of the FXCM platform that would be useful to some traders. While it may be a new skill set for some, it is what the market requires for success.
The platform offers a wide variety of advanced analytical and charting tools and is connected to a myriad of third party trading tools. It also supports automated trading and allows users to create their trading strategies and indicators using Ninja script. FXCM is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to FXCM, money is in a segregated bank account that is separate from FXCM company’s funds. As a regulated broker, FXCM cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by FXCM.
FXCM is a Multi-Assets Trading Platform with over 10000+ Assets
All the platforms are available in web, desktop, and mobile versions. Each of these platforms are equipped with a wide variety of tools to enhance user experience. Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients. To better understand the FXCM trading platform, you can create two separate accounts – one with real money and the other a FXCM demo account. A FXCM demo account provides a risk-free environment for experimenting with the FXCM platform’s features and trading strategies before risking your actual funds.
Africa’s Biggest Online Trading Summit is Here
Tools such as the ‘Sorting Features’ function allow FXCM clients to filter the pool of signal providers to achieve a best-fit. Given that some degree of control is given to a third party its reassuring that risk management tools such as ZuluTrade’s Margin Call–o–meter are on hand. MT4, on the other hand, comes with all features offered by most top-level brokers.
Effex Capital was a spin off from FXCM to keep an algorithmic trading system within a separate company. Effex Capital conducted its business with the use of FXCM employees, and they worked in the same office as FXCM operations. Further, Effex Capital benefited from interest free loans from FXCM, and received special trading permissions. Up to 70% of Effex Capital’s profits were funneled back to FXCM as rebates. Since Effex Capital was a market maker for FXCM, this $77 million made by FXCM was money lost by FXCM clients.
Time-of-trade services are based on custom indicators, strategy optimisation, strategy back-testing, and robust charting functionality. Moreover, the broker provides third-party tools such as Mirror Trader and ZuluTrade. Mirror trading allows traders to copy trades from reputable strategy developers into their accounts. ZuluTrade, on the other hand, enables traders to copy the trades of other successful traders.
Instruments and spreads
All payments made to FXCM by traders are securely held in a segregated bank account. We aim to provide you with all the information in this FXCM review you need to determine if FXCM is the right fit for you. But we don’t stop there – we also offer valuable insights into other great alternatives to FXCM, so you can make a more informed decision and compare other brokers against FXCM. Many of them operate all over the world and have a clean record with all of the regulators in the countries they operate in. With so many good options, why choose a forex broker with a history of so many fines and regulatory actions against it? On February 6, 2017, the National Futures Association (NFA), reported that they are permanently barring FXCM from NFA membership.
Commissions & fees
When you submit a withdrawal request, FXCM will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like FXCM, you can enjoy peace of mind and focus on your trading activities.If FXCM violate any regulatory rules their regulated status could be stripped. Finally, Sanders alleges in the Complaint that FXCM lured thousands of customers to its trading platform by promoting a “demo account” which was touted as providing customers with a true market trading experience. Instead, he claims, once “live” trading commences, FXCM deploys specially designed software to manipulate customers’ trades. The minimum deposit with this broker is $50 (€300 for EU accounts), and it does not provide any deposit bonus. Furthermore, FXCM has its proprietary trading platform as well as MT4, and Ninja Trader.
It also has almost as many charting and drawing tools as the desktop version, and a clean, intuitive interface. Trading Station web is very stable and mostly runs without a hitch. Since this difficult period, FXCM has made effective moves to repair its damaged reputation. The new owner of FXCM is Jefferies Group, a well-known and trusted investment bank and financial services company based in New York.
- By partnering with a trustworthy broker like FXCM, you can enjoy peace of mind and focus on your trading activities.If FXCM violate any regulatory rules their regulated status could be stripped.
- As mentioned above, the average spread for the EUR/USD pair through the standard account is 1.3 pips.
- Moreover, the broker provides third-party tools such as Mirror Trader and ZuluTrade.
- With Autochartist, FXCM traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs.
- The Active Trader account, on the other hand, has an average spread of 0.7 pips for the same pair.
Between 74-89% of retail investor accounts lose money when trading CFDs. Stocks, currency and other commodities fxcm canada review and instruments will be brought or sold by FXCM even if no buyer or seller is lined up. If you’re interested in comparing FXCM against other popular brokers in the industry, check out our FXCM Vs pages.
If you are unsatisfied with FXCM or want to explore other options, we recommend checking out our carefully curated list of highly-rated FXCM alternatives. Follow the links below to learn more about these FXCM broker alternatives and choose the one that best suits your trading needs. When we called, the team answered our call promptly, in less than a minute. You can trade a wide variety of instruments with FXCM over instruments in fact.
This hands-on experience can help you gain confidence and become more comfortable with trading. Even if an FXCM trader experiences a significant loss, they will never owe more money than what is available in their FXCM account balance. The next step involves submitting identification documents for FXCM account validation and making a deposit. Once completed, FXCM users can download the trading platform of their choice.
Learn Forex Trading
This effectively bars FXCM from ever operating in the United States, since NFA membership is required to operate in the United States as a forex broker. On the same day, the US Commodity Futures Trading Commission (CFTC) has fined FXCM $7 million for defrauding retail forex customers, and required that their CFTC registrations be withdrawn. Users also get free educational content when they sign up for the demo account.
This approach can help you gain experience and confidence in FXCM trading decisions. FXCM partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their FXCM clients’ funds. The core of the Trading Station offering is its ability to take traders into the heart of the markets. The execution GUI is packed full of trade management and risk management tools.