Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
FXCM Pros & Cons
- wide range of the popular trade tools;
- reliable and reputable regulator;
- the minimum deposit is $50.
- there is no possibility of trust management and, as a result, no PAMM accounts;
- no incentives/ bonuses offered to clients.
FXCM Markets company incorporated in Bermuda and provides a wide range of financial services for traders almost all over the world. The company was founded in 1999 and registered in Great Britain. It is regulated by the independent nongovernmental organization of Great Britain — Financial Conduct Authority (FCA). Broker’s registered license number — 217689. The FXCM Group has several significant awards such as: prizes in the "Best Trading Tools” category and the "Best Customer Support 2018" by FXEmpire.
TU Expert Verdict
FXCM demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria7 /10The trading and non-trading commissions of FXCM have been analyzed and rated as having Medium fees, with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No deposit fee
- No withdrawal fee
- Inactivity fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of FXCM with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, FXCM’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
FXCM Standard spreads FXCM OANDA FOREX.com EUR/USD min, pips 0.2 0.1 0.7 EUR/USD max, pips 1.3 0.5 1.2 GPB/USD min, pips 0.2 0.1 0.9 GPB/USD max, pips 1.6 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
FXCM RAW/ECN spreads FXCM OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 3 3.5 5 EUR/USD avg spread 0.1 0.15 0.2 GBP/USD avg spread 0.1 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with FXCM. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
FXCM Non-Trading Fees FXCM OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0-40 0-15 0 Inactivity fee ($, per month) 50 0 15 -
Is FXCM Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria10 /10FXCM has a safety score of 10/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Regulated in the UK
- Track record over 27 years
- Strict requirements and extensive documentation to open an account
FXCM Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level 
FCA UK Full Name Financial Conduct Authority Country of regulation United Kingdom Investor Protection Fund Up to £85,000 Regulation Level Tier-1 
ASIC Full Name Australian Securities and Investments Commission Country of regulation Australia Investor Protection Fund No specific fund but has stringent consumer protection Regulation Level Tier-1 
CIRO Full Name Investment Industry Regulatory Organization of Canada Country of regulation Canada Investor Protection Fund CAD 1,000,000 Regulation Level Tier-1 
FSCA SA Full Name Financial Sector Conduct Authority of South Africa Country of regulation South Africa Investor Protection Fund No specific fund Regulation Level Tier-2 FXCM Security Factors Foundation date 1999 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.5 /10FXCM offers the following account options: Demo, Standard, ECN/Raw spread, Swap Free.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Demo account
- Tight spread ECN account
- Standard account with balanced trading conditions
- No VIP account option
- No Cent account
FXCM account types vs top competitors FXCM Trading.com Plus500 Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free YesNoNoVIP NoNoNoManaged NoNoNoFXCM accounts trading conditions
FXCM Markets has several types of accounts: Standard and Active Trader accounts are for all types of clients. The main differences are the spread costs as well as the possibility of using additional services.
Account Type Description Mini accounts have a minimum deposit from $50. The spread type is floating with a minimum spread for currency pairs 0.2 pips. The leverage is up to 1:400. The margin call level is 50%. This is the best choice for novice traders; Standard-account Minimum spread for currency pairs is 0.2 pips for EUR/USD, the spread is floating. The maximum leverage level is 1:30. The margin call level is 50%. Good for professionals; Active Trader is an account with a deposit starting from $25,000. Floating spread for currency pairs starts from 0.2 pips for EUR/USD. The amount of leverage is up to 1:30. The margin call level is 50%. It is good for professionals and active traders. Such additional bonuses as special support, API trading, and trading ideas are provided. The broker also provides an opportunity to open a demo account to test trading conditions and get acquainted with the trading platform. FXCM is a broker focusing on all types of traders.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology5.5 /10FXCM received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
FXCM provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Low minimum withdrawal requirement
- No withdrawal fee
- Bank card deposits and withdrawals
- Minimum deposit below industry average
- BTC not available as a base account currency
- BTC payments not accepted
- Wise not supported
What are FXCM deposit and withdrawal options?
FXCM provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller.
FXCM Deposit and Withdrawal Methods vs Competitors FXCM Trading.com Plus500 Bank Wire YesYesYesBank card YesYesYesPayPal NoNoYesWise NoNoNoBTC NoNoNoWhat are FXCM base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. FXCM supports the following base account currencies: USD.
What are FXCM's minimum deposit and withdrawal amounts?
The minimum deposit on FXCM is $50, while the minimum withdrawal amount is $50. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact FXCM’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria5.8 /10FXCM offers a limited selection of trading assets compared to the market average. The platform supports 83 assets in total, including 46 Forex pairs.
- Commodity futures are available
- Crypto trading
- Copy trading platform
- Bonds not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by FXCM with its competitors, making it easier for you to find the perfect fit.
FXCM Trading.com Plus500 Currency pairs 46 69 60 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 83 69 2800 Stocks YesNoYesCommodity futures YesNoYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesNoYesStock indices YesNoYesOptions NoNoYesInvestment options
We also explored the trading assets and products FXCM offers for beginner traders and investors who prefer not to engage in active trading.
FXCM Trading.com Plus500 Bonds NoNoNoETFs NoNoYesCopy trading YesNoNoPAMM investing YesNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at FXCM by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10We successfully registered an account with FXCM in 30 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at FXCM is $50. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Account approval may require extra time depending on the documentation.
- Registration process may take longer than expected
FXCM account opening FXCM Trading.com Plus500 Online Registration YesYesYesMinimum deposit $50 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 30 20 KYC time (days) 2 2 3 Is FXCM available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To start trading with FXCM and get compensation using the Traders Union rebate service:
Register on the Traders Union site and follow the Affiliate link to the broker's website. Then click the “Open Account” button.
Specify your country of residence, name and surname, email address, current phone number, account type, and also create a password.
The following functions will be available in your personal account:
Trade deposit balance.
Statistics (statement) of trade.
Also, other useful functions will be available in the personal account:
- broker regulations and rules;
- technical support and assistance of a personal manager;
- account settings;
- account management;
- access to trading terminals;
- personal data change.
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Customer Support
Score:We evaluated Customer Support at FXCM by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria5.4 /10Customer support at FXCM is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. FXCM provides basic support functionality but does not stand out in overall service performance.
InformationThe support service provides technical and operational support twenty-four/five.
- There is a FAQs section
- Form for sending emails
- Telephone support
- Does not work on weekends
- It takes 3-4 days on average to get an answer
- No online chat
There are several ways to contact customer support specialists:
- by phone as indicated on the site;
- via email;
Support is available both on the FXCM website and in the Personal Account in the Support section.
Contacts Foundation date 1999 Registration address 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom. Regulation ASIC, FCA, FSCA Official site fxcm.com
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FAQs
How safe is FXCM in terms of regulation and client protection?
FXCM has a safety score of 10/10, indicating a high security level under the evaluation used in this review. It is regulated by several Tier-1 authorities, including the FCA in the UK (with an investor protection fund up to £85,000), ASIC in Australia, and CIRO in Canada (with protection up to CAD 1,000,000), and also holds Tier-2 regulation from the FSCA in South Africa. The broker was founded in 1999, applies verification (KYC), and offers negative balance protection, while specific details beyond these points are not provided in this section.
What trading commissions and fees does FXCM charge?
FXCM’s overall fee level is rated as medium with a score of 7/10, with advantages such as low Forex trading fees, tight EUR/USD spreads, and no deposit or withdrawal fees, though an inactivity fee applies. On Standard accounts, EUR/USD spreads typically range from 0.2 to 1.3 pips and GBP/USD from 0.2 to 1.6 pips, while RAW/ECN accounts show average spreads of 0.1 pips on EUR/USD and GBP/USD plus a $3 commission per lot. Non-trading fees include a $50 monthly inactivity fee and withdrawal costs that can range from $0 to $40, depending on the method.
What do user reviews say about FXCM overall?
FXCM has a user satisfaction score of 8/10 based on 133 reviews, with 41% of users giving 5-star ratings and 19% giving 4-star ratings, while 38% left 3-star reviews and a small share left 1–2-star reviews. According to user reviews, the overall tone is mostly positive, though the notable proportion of 3-star ratings suggests some users report mixed experiences.
What markets and assets can you trade with FXCM?
FXCM offers 83 tradable assets in total, including 46 currency pairs, and supports trading in stocks, stock indices, commodity futures, and cryptocurrencies, but does not provide options or bonds. The broker also supports copy trading and PAMM investing, while ETFs and managed accounts are not available, and the asset selection is described as limited compared to the market average.
What feedback do traders give about FXCM customer support?
Customer support at FXCM is described as functional but not outstanding, with moderate response times that can average 3–4 days and service quality that may require follow-ups depending on the request. Support is available 24/5 via phone and email, with an FAQ section and contact form provided, but there is no online chat and support does not operate on weekends according to this review.
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