FXCM Review 2024 Powerful trading platforms and tools

It provides the most recent news and events in the economic activity of many nations. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs.

FXCM User Experience

FXCM provides customer support via live chat, phone, and e-mail, with free international dials. FXCM offers users a near-flawless educational experience that includes training videos, webinars, written content, as well as a demo account with £50,000 of virtual money. The company offers a bundle of great basic forex training lessons, fxcm broker review and a considerable video archive full of well-produced, high-quality video lessons. The most common choice for many is the FXCM Standard account, through this trading account you will have access to a selection of 39 forex currency pairs. This includes CFD markets on major indices, commodities, metals, and bonds too.

Is FXCM Regulated?

I do note, however, that I had to enable hedging before I could make use of this strategy, though I did this easily by accessing my account settings. For these reasons, I rate Trading Station highly among the dozens of proprietary platforms https://forexarena.net/ I have tested. Overnight costs are also applied for positions held after 10 pm GMT, but this is industry standard. To prevent this from happening, you either have to place a new trade, maintain an existing trade or close your account.

Deposit and Withdrawal Fees

Some of them are Barclays Bank Plc, Citibank N.A, Deutsche Bank AG, Jefferies Financial Services, etc. FXCM’s price engine examines the price feed from the liquidity providers and selects the best price. This price is displayed on the trading platforms for clients to see. What this all means is that you can get your trades execute quickly and at the best available prices at all times.

What is FXCM’s commission fee?

The 1st tier ranges from $10 to $25 million traded per month and pays $5 per million, while the 5th tier pays $25 per million if you traded a minimum notional amount of $300 million per month. FXCM’s in-house education is above average, and primarily takes the form of articles, videos, and content produced for its FXCM YouTube channel. Use our country selector tool to view available brokers in your country.

Platforms & Apps

Motivation can instead be inspired by creating interactive courses that feature quizzes and incorporate progress tracking. It’s worth mentioning that your trading account balance must meet a threshold to access certain educational content. FXCM provides traders with its proprietary Trading Station, the MT4 trading platform and ZuluTrade. It also maintains six specialty trading platforms for algorithmic traders and Capitalise AI. Forex trading is very popular amongst beginner and experienced traders as it offers access to high levels of liquidity and often requires a low amount of capital to get started. In this FXCM review 2024, we cover all the key metrics from supported markets, fees and commissions, account types, mobile trading, payments, regulations, and much more.

This company can be trusted, and legit, and credit card payment works. Some cases, the things that are been advertised are not true for Canada. FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. The broker has 2 support email addresses that give you access to general or account-specific inquiries. You can even contact the FXCM trading desk and place orders directly if you have a problem such as no Internet access or a failure to connect to an FXCM server. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.

For traders in , FXCM offers three different account options for traders – retail, active trader, and professional. All three account types are covered by FXCM’s 24/5 support and trading resources. Several trading articles are available to help new traders learn the ropes. These articles start with terminology, fundamental principles, indicators, and trading techniques and go to trading strategies. The website includes a vocabulary of approximately 45 pertinent trade words. The video library includes lessons on platform use, forex introduction, order kinds, and mobile platform usage.

• This company can be trusted, and legit, and credit card payment works.
• The Trading Station Mobile platform lets retail traders quickly and easily access the forex market.
• Customer support representatives are praiseworthy and the educational content is superb.
• MetaTrader 4 is much more accessible than Trading Station when it comes to the scripting language, but Trade Station seems to be the superior platform overall.
• FXCM is especially proud of their own Trading Station II (not to be confused with another platform TradeStation).

Most traders will easily satisfy it by sending a copy of their ID and one proof of residency document, satisfying regulatory KYC/AML requirements. Automated trading solutions often require a VPS service to operate effectively around the clock. FXCM offers two VPS solutions, charged at $30 or a currency equivalent per month. Traders who exceed $500K notional trading volume for three consecutive months will get the fee reimbursed.

FXCM offers multiple account types and trading platforms, including MT4, Trading Station, Ninja Trader, TradingView, and Speciality platforms, with top-of-the-line liquidity. Moreover, the broker offers useful trading tools such as AI and VPS hosting. FXCM has proven itself as a reliable and secure platform for both new and experienced traders. With its commitment to transparency, competitive pricing, powerful trading platforms, and adherence to strict regulatory standards, FXCM is an ideal choice for those looking to trade forex and other assets.

You can sign up to receive SMS Trade Alerts (powered by the brilliant Autochartist) to help you spot potential trading opportunities. The FXCM economic calendar lists the global economic events that affect the prices of trading instruments. You can search for events and compare analysts’ consensus with previous records.

They serve as valuable resources for traders looking to make informed trading decisions and, in my opinion, stack up well against the analysis provided by similar brokers. These stats show that FXCM completes your orders with no slippage more than 60% of the time. When comparing the spreads to other brokers, FXTM at first glance appears to have only average spreads. If you are a high-volume investor, then the Active Trader account may be for you. This account offers FXCM’s lowest spreads with the added benefit of discounted commission, dedicated support, and depth of market. New traders go through a quick three-step account application process at FXCM, including account verification.