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.
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
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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
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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.
- Standard account with balanced trading conditions
- Low minimum deposit
- Tight spread ECN account
- Micro lots are not available
- No Cent account
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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.
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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.
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Trading Account Opening
We 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.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 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
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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 /10
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FXCM Video Guides
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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