FXCM is an advanced platform for online trading, which was developed in U.S. The company gained the title of one of the biggest financial services providers. It operates for residents of Europe and on other continents. The broker is regulated and offers to operate with such financial instruments such stocks, commodities, indices, cryptocurrencies and Forex. On the company’s site wide array of additional tools are presented.
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What markets does FXCM provide for trading?
FXCM provides financial services since 90’s. A lot of time have passed, and the company always adapted itself for the current situation. That is why FXCM provides access only to actual markets. Today’s traders want to operate on Forex market, stock market, cryptocurrency market, index market, commodity market and CFD market.
On the broker’s platform stock market trading is outlined. FXCM also gives description of what is stock trading and how to trade stocks. It is noticed that broker provides full information of how to operate with certain instruments. Moreover, on this platform you can get additional useful function that is CFD on stocks.
CFD or Contract for Difference is an advanced instrument, which allows to trade the asset without actual getting it. By the mean of CFD you don’t buy or sell anything. You simply make a contract stating the difference in prices for the asset that you select when opening and closing a transaction.
How it works? You choose the asset that seems attractive for you and create an order. For example, you choose one of the company’s stock that FXCM provides – Google share. If you believe Google share will go up soon, you open a buy position. The broker give opportunity to open new horizons for customers and trade exactly on price movements, not the actual product.
In the same way on this platform you trade CFD on other exchange assets:
- energy products (oil, gas), industrial metals (copper, aluminum), precious metals (silver, gold), agricultural products (coffee, wheat);
- indices: for instance, the FTSE 100 or S&P 500;
- Currencies: exchange rates, such as USD/CAD, USD/CHF, GBP/USD, EUR/JPY, EUR/USD, USD/JPY.
FXCM prepared great selection of financial assets to trade and beneficial tools for more productive trading. So, what advantages CFD trading has:
- All assets are going well with CFDs;
- Opportunity to carry out transactions with leverage;
- One-click instant trading is available;
- No currency exchange or investment management fees
What platforms does FXCM offer?
The broker prepared different trading platforms; each has its own beneficial characteristics. FXCM offers to trade on:
- Trading Station;
- Meta Trader 4;
- Trading View;
This platform gives web access to the market. Trading Station is a high-powered version of the platform, which is Mac, Android and iOS compatible. Here you can operate on forex and CFD market, getting wide range of instruments for making analytical charts, and other functions. Trading Station includes demo account and mobile mode for very busy customers.
Meta Trader 4
It is a widely known and used platform, which is equipped with handy instruments for experienced traders. The platform works well on Windows, Mac, Androids and IOS devices. You get no limits in trading here. FXCM broker allow to use scalping strategies, expert advisors’ services and virtual private server on MT4 account. Moreover, MT4 traders obtain unique features like stop-loss, take profit, and partially close positions. FXCM company makes hedging and max deviation functions available for MT4. Besides, the broker has great offering in the form of mobile version of MetaTrade 4.
Zulu trade platform helps to bettering your results by pattern after ither traders in Forex, stocks, and crypto trading. It is a massive auto-trading application. It gained the popularity due to opportunity to follow the work and trading style of other traders. Beginners can learn a lot of information, accelerate their progress and work out own trading strategies. Zulu trade also helps skilled customers not to waste their time on monitoring the market by their own. Zulu Trade system works according to progressive algorithms and provides traders the opportunity to potentially improve trading activity.
TradingView is an inbuilt live trading attachment, which supposes many advantages. It is so-called a social network for people, who trade on Forex, stocks, and indices. It composes platform with real-time quotes, charts and expert trading portfolios. All charts are top quality made and displays live movements in rate of assets. Here you can begin with demo account to practice something new with super handy tools.
FXCM made an exclusive offer in the form of NinjaTrader. It is a platform, whose account gives permission to obtain all prices of biggest Forex providers, large companies and banks. NinjaTrader display bid and ask orders, allow to monitor chart using advanced technical indicators, wide set of assets. This innovative platform let load multiple time-frames. Here is live account only, but it has favorable conditions for trading.
Choose an account type on FXCM that match your ambitious
FXCM takes into account many factors, which can improve its customers’ life. The broker prepared several account types for people with different views of trading. On the platform you find the following account options:
- Demo account – for practicing and learn how the platform works, before real investing;
- Active Trader account – for traders with extensive practice, who devote their time to trading like to a real job. Such profile maintains many useful functions, instruments, managers, and trading solutions;
- Spread Betting – is an account for CFD traders, where FXCM allows them to work with the fastest tools. By the mean of this account type, traders can speculate on price movements and potentially capitalize on future swings on the market;
- Professional account – provides specific regulatory protection that is offered to Retail Clients under the FCA norms. Here customers get negative balance protection feature, certain leverage limits, and risk warning.
How to make a deposit on FXCM?
The broker sets simple methods for traders of placing their money on deposit. You can make it by Debit or Credit card (Visa, Discover and Mastercard), Bank Wire, Skrill, Neteller, Klarna, Rapid Transfer. Moreover, the broker allows to replenish the account via mobile.
FXCM broker has several unique offerings for its customers, which say that the broker has a first-class approach to the traders:
- exclusive choice of account tiers;
- free online live educational content;
- free access to APIs;
- widest choice of trading platforms;
- highly qualified support of account managers;
- investing by many easy-in-use web wallets;
- mobile trading access, that includes all opportunities from registration to account replenishing.
Broker considered many requirements of the customers, who make the suggestions about bettering the platform in the e-mail, online support chat, SMS, phone numbers on the platform.
Commissions & Fees
FXCM broker divided commissions on several rates: low, average and high, basing on the traders’ need, targets and requirements. By the way fees can be:
- Trading ones, which occur when you do trade. It includes commissions, spreads, funding rates and conversion commissions.
- Non-trading ones include fees that are not directly related to trading, such as withdrawal fees or inactivity fees.
Commissions for currency spreads, for example, reach 1.4 pips. It is a high level of fees in the industry. The detail information about spreads on every asset presented on FXCM trading platform. All spreads vary on the certain asset.
Before trading on FXCM, be ready for non-trading fees. There are no fees charged for profile service, deposit, or card withdrawing process. However, the platform has withdrawal commissions and commission for non-action on account. The bank withdrawal fees depend on the national currency of the trader’s country. The non-action fee is $50 after each year of inactivity.
The international financial services provider equipped its customers with a breathtaking array of instruments to get a potential profit. Considering the dynamic and liquidity of the market, FXCM give opportunity to realize multiple strategies with maximum performance. Here you can open any duration of positions, get multi-session trading plans, possibly gain from cyclical rates changes and become an experienced trader.
Is FXCM regulated broker?
FXCM company is a holding company of Forex Capital Markets Limited, counting the branches in United Kingdom, Australia offices.
The FXCM Group is headquartered at 20 Gresham Street, London, United Kingdom. FXCM LTD is regulated in the UK by the Financial Conduct Authority. Registered in England and Wales with Companies. FXCM Australia Pty. Limited is regulated by the Australian Securities and Investments Commission. FXCM South Africa Ltd branch is an authorized Financial Services Provider and is managed by the Financial Sector Conduct Authority.
Why was FXCM banned?
FXCM has been restricted to perform the activity in the U.S. territory after the Commodity Futures Trading Commission suspected the broker in winning the largest share trading volume.
What is the minimum deposit for FXCM?
The FXCM financial services provider sets:
300$ minimum deposit for EU residents;
50$ minimum deposit for non-EU residents;
25 000$ minimum deposit on Active Trader account type.
How long does it take to withdraw from FXCM?
The withdrawal process takes 3 or 4 business days
Does FXCM have Nasdaq?
FXCM provides access for trading on NASDAQ exchange.
What is FXCM Leverage?
FXCM offers leverage CFD and Forex trading. On the platform is presented 30:1 leverage on a key currency pair, for example GBP/USD, 20:1 for nonbasic currency pairs, gold and prime indices, 10:1 for commodities and non-major indices, 2:1 for cryptocurrencies.
Where is FXCM based?
Initially, the company was founded in New York in 1999, but then became one of the leading world forex brokers. After the company settled in London, and currently headquartered here.
How does FXCM make money?
The broker gets commissions.
How do I open an account with FXCM?
FXCM platform is easy to open a demo or live account. The only requirement that broker makes is the confirmation of country residence of the customer and filling the registration form. Then the customer chooses the type of account and the trading platform, where the orders of buying and selling are performed.
What trading platforms does FXCM offer?
FXCM broker offers great variety of advanced trading platforms, among which are Trading Station, NinjaTrader, ZuluTrade, and Meta Trader 4.