FXCM Review 2020

Overall rating

Overall rating

9

/10

FXCM Review 2020

Davis J.
Robertson A.
September 2020
Analysis of the Main Features of the Forex Broker

9

Overall rating

9

/10

Execution of orders

9

/10

Investment instruments

8.9

/10

Withdrawal speed

8.7

/10

Customer Support work

9.1

/10

Variety of instruments

9.3

/10

Trading platform

6

Position
in rating

9

/10

Overall rating

Trading terminals:

Zulu Trader MetaTrader4
6

Position in rating

9/10
Overall rating

Trading terminals:

Zulu Trader MetaTrader4

Summary of FXCM Trading Company

FXCM broker 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. FXCM has several significant awards such as: prizes in the "Best Trading Instruments” category and for "Best Training" from the Personal Wealth resource, as well as the "Best Customer Support 2018" by FXEmpire.

Attention!

Traders Union works only with accounts that were opened through the Traders Union website.

👍 Advantages of trading with FXCM:

  • wide range of the most popular trade tools;
  • reliable and reputable regulator;
  • the minimum deposit is $50.

👎 Disadvantages of FXCM:

  • cent accounts are not available;
  • there is no possibility of trust management and, as a result, no PAMM accounts.

Overall

FXCM is a general purpose-type broker for active traders who trade independently and implement classic strategies in their trading.

Visit FXCM

FXCM Latest Comments for 2020

15
0
0

The reviews by customers of the FXCM indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of FXCM published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I have been working with this broker for almost two years. First of all, I liked the excellent and convenient trading platform, as well as the conscientious support service. The withdrawal of money is made promptly without any delay. The support service helps and explains everything competently. The only thing I didn't like was binary options trading. This is a reliable broker. Payments are made steadily and without any delays and there is no need to worry about fraud. I will continue to cooperate with FXCM and strongly recommend this broker.

It’s a reliable broker that is one of the big tickets in the Forex market. My money was withdrawn promptly without delays. Customer support gives sound advice. There is nothing supernatural, but everything is fair. It is handy to work on their website. I liked that deposits are protected and you can freely withdraw funds. I have done a lot of transactions. For newbies who are afraid of being tricked by scammers, this website is a true catch. This company is recognized internationally, which indicates that it operates at a high level. As an experienced person in trading, I can highly recommend Forex Capital Market.

Trading sharks should love this regulated broker. The trading conditions are commendable. The minimum deposit is $5,000 on a standard account. From time to time it updates spreads, offering more profitable ones. This broker has a serious approach to providing the best conditions for legal and fair trade. It’s a serious American broker, therefore it requires a serious registration process. There are mostly experienced traders here. The only difficulty is that it only uses bank transfer as a payment method. Direct access to interbank liquidity provides real prices from suppliers without intermediary margins and overpricing.

If you prefer a trading mode without the participation of dealers at the prices of the world's leading banks with strict observance of all laws and rules of financial discipline, then you are at the right address. One-click trading and direct trading from charts are also available here. The convenient trading platform will amaze you. I easily fund my account on the FXCM website using a debit or credit card and make transactions at any time of the day, including using mobile Forex. It’s a serious and reliable broker that is in the big league.

FXCM is a normal brokerage company and there are no delays when executing orders. After trading for two years, I became a real ace and started to make the right choices. It is not difficult to withdraw money. In your personal account, you fill in your details, if it’s as clear as mud for you, then scan your details and send them by mail. In response they send you a form with details, which you fill out. You also fill out a form for withdrawing funds. Send these forms by mail. Money is transferred in 2-3 days. In order not to risk your funds, especially if you are a beginner trader, try it first on a demo account.

Forex Capital Market positions itself as a big shot in the Forex market. I was happy to find such a legit broker. The broker has existed since 1999, which is a significant indicator. If it is still in demand, it means that it provides quality service for its users. I enjoyed trading here from the beginning. Any trader can choose the most convenient trading terminal for himself since fxcm.com offers several terminals to choose from: the standard MetaTrader 4, NinjaTrader, MetaTrader web, Trading station web, and the Zulutrade platform for most brokers. Do not waste time, get on board!

I was thrilled to find this broker on the Internet. It’s a legit broker that holds every client accountable. FXCM doesn’t sit pretty, constantly evolving, and with enviable regularity expands the list of useful options for its traders. The company's own back office collects all transactions made in various ECNs and selected banking trading platforms. I strongly recommend it.

2 3 >

Video Review of FXCM

Expert Review of FXCM

FXCM broker has magnificent experience in the Forex market. During this time, it has developed a reputation as a reliable partner that provides clients with optimal trading conditions. The company offers three types of accounts, as well as the ability to open a demo account for novice traders.

FXCM offers a wide range of trading instruments as well as several trading platforms (MetaTrader 4, MetaTrader Web, ZuluTrade, Trading Station Web). The lack of "classic" bonus programs is a real disadvantage. The broker's bonus programs apply only to traders with a deposit of $25,000 and more.

The broker's website is functional and convenient enough. It should be noted that FXCM broker has been a partner of Traders Union for several years.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of the Forex Broker

9

Overall rating

9

/10

Execution of orders

9

/10

Investment instruments

8.9

/10

Withdrawal speed

8.7

/10

Customer Support work

9.1

/10

Variety of instruments

9.3

/10

Trading platform

Dynamics of the Popularity of FXCM
in 2020 among the Users of the Traders Union

Dynamics of the Popularity of FXCMin 2020 among the Users of the Traders Union

Investment Programs, Available Markets and Products of the Broker

FXCM trader is the best choice for traders who trade independently. The company does not offer investment and trust management options, as well as any PAMM accounts in its arsenal accordingly.

FXCM affiliate program:

  • FXCM’s Rebate Program is designed for traders actively working in the market. You can obtain different compensation levels depending on the volume of trade. Mandatory requirements are to have an account with FXCM and monthly trade with a nominal volume of at least 10 million US dollars (approximately 100 lots).

The partnership conditions of the FXCM broker are quite strict and are intended for professionals. The broker does not have "classic" affiliate programs that provide for the ability to attract new customers and create your own referral network.

Important!

If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

Rebate and Discount Programs of the Traders Union for FXCM

The Traders Union rebate service allows you to reduce your trade costs significantly. To use the capabilities of this service, register with Traders Union, open a trading account with a broker using the Union’s referral link, trade with FXCM and then get partial compensation of the spread in the form of rebates. This compensation shall be accrued regardless of the result of the trading.

Information

The amount of compensation is 1 pip per 1 lot, and 80% of which is paid to the trader.

Example. A trader has a turnover of 1 lot of the EUR/USD currency pair in one day. The spread for this pair averages 2 pips per lot. A pip value at 4-digit quotes for this pair is $10, hence the cost to a trader for a spread could be $20. According to the terms of the partnership, 1 pip per 1 lot which corresponds to $10 shall be reimbursed to the Traders Union by the broker. The trader gets 80% of this amount - $8. Therefore, the real cost to the trader is $12.

Try it!  You’ll like this!

Trading Conditions for FXCM Users

FXCM broker provides acceptable trading conditions to its clients. The minimum deposit for a Mini account is $50. The spread size depends on the specific trading tool (the minimum is 1.4 pips for currency pairs). The minimum trade volume is 0.01 of lot for all account types. Leverage for deposits up to $20,000 is up to 1:400 for currency pairs and up to 1:200 for CFDs. Leverage for deposits over $20,000 is up to 1:100 for currency pairs and up to 1:200 for CFDs.

From $50

Minimum
deposit

Up to 1:400

Leverage

24/5

Support

Zulu Trader MetaTrader4
Trading platform: MetaTrader 4, MetaTrader Web, ZuluTrade, Trading Station Web
Accounts: Demo, Mini, Standard, Active Trader
Account currency: USD
Replenishment / Withdrawal: Visa, Mastercard, Skrill, Neteller, Wire Transfer
Minimum deposit: From $50
Leverage: Up to 1:400
PAMM-accounts: No
Min Order: 0.01 lot
Spread: From 1.4 pips
Instruments: Currencies, stocks, indices, commodity, cryptocurrency
Margin call/Stop Out: 50%
Liquidity provider: Barclays Bank, Citibank N.A., Deutsche Bank, FASTMATCH MKP, ХТХ Markets ltd., UBS, Morgan Stanley
Mobile trading: Yes
Affiliate program: Yes
Orders execution: Market execution
Trading features: You can use advisers
Contests and bonuses: Available for active traders

Comparison of FXCM with other Brokers

FXCM FxPro XM Group Admiral Markets UK AvaTrade
Trading
platform
MultiTerminal, Ninja Trader, MetaTrader4, Mobile, Web, Trading Station MT4, MobileTrading, MT5, cTrader MT4, MT5, MobileTrading MT4, MT5, iPhone, iPad, Android, MT4 Supreme Edition MT4, MobileTrading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option
Min deposit $50 $100 $5 $200 $100
Leverage From 1:1
to 1:400
From 1:1
to 1:500
From 1:1
to 1:888
From 1:25
to 1:500
From 1:200
to 1:400
Trust management No No No No No
Accrual of % on the balance No No No No No
Spread No From 1 point From 1 point From 0 points From 0 points
Level of margin call
/ stop out
No 25%  /  20% 50%  /  20% 100%  /  30% 25%  /  10%
Execution of orders Market Execution Market Execution, Instant Execution Market Execution Market Execution Instant Execution
No deposit bonus No No $30 No No
Cent accounts No No Yes No Yes

Broker comparison table of trading instruments

FXCM FxPro XM Group Admiral Markets UK AvaTrade
Forex Yes Yes Yes Yes Yes
Metalls Yes Yes Yes Yes Yes
Crypto Yes No No Yes Yes
CFD No Yes Yes Yes Yes
indexes Yes Yes Yes Yes Yes
Stock Yes No Yes Yes Yes
ETF No Yes No Yes Yes
Options Yes Yes No No Yes

FXCM Commissions & Fees

Information

Traders Union specialists analyzed the FXCM broker for hidden fees. Please note that the broker charges $40 when withdrawing funds by wire transfer. Also, small amounts can be withheld by banks and payment systems when using other withdrawal methods.

Account type Spread (minimum value) Withdrawal commission
Mini From $1.4 No, except for withdrawal by bank transfer
Standard From $14 No, except for withdrawal by bank transfer
Active trader From $14 No, except for withdrawal by bank transfer

The broker has a commission for transferring trading positions to the next day (swap). We also compared trading commissions at the FXCM broker with similar parameters at other Forex brokers. Each broker was assigned a level from low to high, based on the results of the assessment for this parameter.

Broker Average commission Level
FXCM $10 High
FOREX.com $8 Medium
Admiral Markets UK $5 Low
Admiral Markets UK $5 Low
FXCM
$10
FOREX.com
$8
Admiral Markets UK
$5
Admiral Markets UK
$5
Conclusion

The broker has a high level of commission fees compared to competitors. However, it is possible to reduce it by using the Traders Union rebate service.

Detailed Review of FXCM

FXCM is a British broker that has been operating in the financial services market for over 20 years. It has offices in ten countries, its activities comprise traders worldwide. The broker is expanding the number of trading instruments and trading platforms. Moreover, FXCM does not offer programs for passive investment.

A few figures that could be interesting for traders choosing a broker:

  • over 20 years on the exchange market;

  • minimum investment amount is $50;

  • over 200,000 registered users.

FXCM is a respectable broker focusing on professional traders.

FXCM provides standardized financial services in the Forex market. The broker provides a variety of trading assets, such as currency pairs (both basic and exotic), CFD contracts, indices, commodities and cryptocurrency contracts. Also, the broker has a fairly well-developed network of representative offices and offices around the world; the central office is situated in London. Liquidity providers are such reputable banks as: Barclays Bank, Deutsche Bank, and Morgan Stanley.

The company's clients have the opportunity to choose from among four trading platforms: MetaTrader 4, MetaTrader Web, ZuluTrade, Trading Station Web. The broker also provides an opportunity for all traders to use the mobile application and open deals from any spot on Earth.

The FXCM broker useful services:

  • economic calendar with the most important information on the different economies;

  • online trading courses and video tutorials;

  • "Market scanner" using technical indicators.

Advantages:

1

a few comfortable platforms;

2

a large number of training materials, video and online courses;

3

the minimum deposit is from $50;

4

wide range of trading instruments;

5

availability of demo accounts.

There are no limits on strategies. Hedging and locking orders are allowed. There is no information on the minimum duration of the transaction retention on the site.

How to Start Making Profits — Guide for Traders

‌FXCM has several types of accounts: The Mini account is perfect for a novice trader. Standard and Active Trader accounts are for professionals. The main differences are the amount of the minimum deposit and leverage, 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 1.4 pips. The leverage is up to 1:400. The margin call level is 50%. This is the best choice for novice traders;
Standard-account
with a deposit from $5,000. Minimum spread for currency pairs is 1.4 pips, the spread is floating. The maximum leverage level is 1:400. 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 1.4 pips. The amount of leverage is up to 1:200. 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 professionals.

Bonuses Paid by the Broker

Bonus program Active Trader.

Bonus program Active Trader. It is provided exclusively to clients with an Active Trader account type. There are advantages for such traders such as partial rebates, special support, accelerated requests processing, API trading, providing trading ideas, depth of market.

Bonus from Traders Union.

Register at Traders Union if you want to save on broker commissions. This procedure is free and takes a few minutes. Then use the affiliate link to the FXCM website. Trade, and the Traders Union will compensate you for the spread regardless of the results of the transaction. If you are already an FXCM customer, then here you can find instructions to link your account with your Traders Union account.

Investment Education Online

Information

There is a separate section with many analytical tools, as well as online training and video courses to help you. These materials can be useful for both novice and professional traders.

Information available in the Analysis and Education section
Unavailable information at FXCM site
Economic calendar
Trading sessions schedule 
Market news
Margin levels
“Marker scanner”
Dow Jones news
 
Glossary
 
Discount rate levels

There is a demo account for testing trading systems and self-study.

Security (Investors’ Protection)

Information

FXCM is regulated by the British authoritative regulator — Financial Conduct Authority (FCA). Broker’s license number — 217689.

Moreover, the broker is licensed by financial regulators in France, Australia and South Africa.

👍 Advantages

  • The regulations and rules for the financial services provision are on the official website
  • The relationships between market participants are monitored and regulated by the FCA

👎 Disadvantages

  • Complex and longtime complaint procedure
  • Claims on compensation for moral damage are not considered
  • Claims of traders with small amounts are not considered

Withdrawal Option and Fees

  • The funds withdrawal with FXCM broker is too slow.

  • There are 4 options for replenishing the deposit and cash withdrawals: bank transfer, Visa or MasterCard, Skrill, Neteller.

  • Withdrawal to a bank card usually takes 1 day. Wire transfer takes up to 2 business days for UK citizens and up to 5 business days for foreign nationals. Withdrawal to Skrill and Neteller e-wallets take 1 calendar month.

  • When withdrawing funds by wire transfer, the company charges a fee of $40. Moreover, additional commissions are possible with the bank or other payment systems.

  • Withdrawals are only possible in dollars.

Customers’ Support

Information

The support service provides technical and operational support twenty-four/five.

👍 Advantages

  • There is a FAQs section
  • Form for sending emails
  • Telephone support

👎 Disadvantages

  • 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;

  • in the company offices;

Support is available both on the FXCM website and in the Personal Account in the Support section.

Contacts

Registration address 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom.

Review of the Personal Cabinet of FXCM

To start trading with FXCM and get compensation using the Traders Union rebate service:

1

Register on the Traders Union site and follow the Affiliate link to the broker's website. Then click the “Open Account” button.

Register - Open Account
Register - Open Account
Register - Open Account
2

Specify your country of residence, name and surname, email address, current phone number, account type, and also create a password.

Register - Personal data
Register - Personal data

The following functions will be available in your personal account:

3
1.Trade deposit balance. FXCM - Personal account
FXCM - Personal account
2. Statistics (statement) of trade. FXCM - Statement
FXCM - Statement
1. Trade deposit balance. FXCM - Personal account
FXCM - Personal account
2. Statistics (statement) of trade. FXCM - Statement
FXCM - Statement

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.

Tags:

fxcm FXCM Forex Capital Markets Ltd. forex capital markets ltd. Fxcm Fxcm.com FXCM LTD

The Oldest Reviews of the FXCM

The reviews by customers of the FXCM indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of FXCM published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I caught a lucky break and found this second-to-none broker three years ago. FXCM has been doing an excellent job of providing stock trading services around the world for over 20 years, with a colossal client base. It was a win-win situation for me. It’s not a scam or fraud, I respect their professionalism, vast experience, the availability of permits, and licenses.

The broker offered me a high-quality product, service options useful for making money is constantly developing, following the current patterns of trading in different types of financial markets. I’ve hit the big time, now it’s your turn to start earning money.

I have traded with different brokers and have decided to come back here. I’m confident in this broker because it has an FCA license and is highly regulated. I liked having different terminals to choose from, as well as 24/5 technical support. Everything is done at a decent level. The companies within the FXCM group are regulated in several jurisdictions. By the way, it is regulated by the Financial Conduct Authority in the UK, which is a good advantage over many brokers. Brokerage company FXCM has been on the market for over 20 years. It’s the reason why I chose it. It has an excellent reputation and is one of the world's leading companies in providing trading opportunities to its clients. The company openly presents all documents, is regulated, and has a license. The broker has a very loyal policy, moderate spreads, and small size for the initial deposit. My trading journey will continue here.

A team of experienced professionals from FXCM offered me top-notch support for active trading accounts.
I can complement my trading strategy with access to high-quality investment materials through the premium subscription. I constantly receive alerts in real-time about fresh trading ideas and forecasts. Replenishment from bank cards was received instantly. You can withdraw money to the same systems through which the deposit was made, but I do not recommend withdrawing by bank transfer, since the loss on commission will be about $40. Withdrawal takes place within two banking days. Register now lads and see what fate has in store for you.


I’m obsessed with this broker since they have a solid mobile app on my iPad. Realizing that a modern trader is fundamentally different from who he was 15 years ago, the company keeps up with the times and does everything possible to make the client comfortable to work anywhere in the world. For this purpose, the broker has developed applications for smartphones and tablets based on Android and iOS, which can be downloaded for free in the respective stores. Now you can do stock trading at any time convenient for you. The applications work well, without freezes and without price slippage. This is an intuitive and well-thought-out platform that allows me to trade even on the road.

This is a tremendous broker and there have never been any withdrawal problems. Daily analytics to help and all sorts of webinars, etc. In addition. I continue to trade and try new strategies. I love this broker and won’t quit trading. In order not to risk your money, the broker suggests that you first practice on a free demo account. Moreover, for this, it is not at all necessary to download and install any software, since a web terminal is provided, and you just need to register a demo account. Here you can test the strategies that you use when trading with other brokers, or develop new ones for the trading conditions provided by fxcm.com.

When I registered here three years ago, it seemed like I caught lady luck by the tail. Everything made an impact on me. FXCM is a legit broker, values its reputation, and pays special attention to the quality of the supplied quotes, using the most serious sources for this. At the core of FXCM's business is the commitment to offer customers competitive spreads and improved order execution. Extended execution means no re-quotes, no stop/limit restrictions, and execution of orders at the asking price up to 89%.

My experience with the broker was smooth sailing. There is a huge number of computer indicators. And FXCM's integrated news and economic calendar will help you avoid missing key events! The terminal provided by the broker that I used was NinjaTrader. At first glance, it may seem like more complex software. In terms of functionality, the program is in no way inferior to MT4. On the company's website, traders have access to daily analytics of the Forex market and currency pairs, as well as the current situation in the financial markets. I will continue trading here.

Author of this Review

FXCM broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the FXCM rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about FXCM you need to go to the broker's profile.

How to leave a review about FXCM on the Traders Union website?

To leave a review about FXCM, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about FXCM on a non-Traders Union client?

Anyone can leave feedback about FXCM on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with FXCM through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.