FXCM Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of FXCM trading signals. You will learn what kinds of trading signals FXCM offers and what the conditions for using them are.
Short introduction of FXCM
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.
| 💰 Account currency: | USD and more |
| 🚀 Minimum deposit: | From $50 |
| ⚖️ Leverage: | Up to 1:30 *Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors. |
| 💱 Spread: | From 0.2 pips |
| 🔧 Instruments: | Currencies, stocks, indices, commodity, cryptocurrency. *Cryptocurrency is not available to UK retail clients. |
| 💹 Margin Call / Stop Out: | 50% |
FXCM Pros and Cons
👍 Advantages of trading with FXCM:
•wide range of the popular trade tools;
•reliable and reputable regulator;
•the minimum deposit is $50.
👎 Disadvantages of FXCM:
•there is no possibility of trust management and, as a result, no PAMM accounts;
•no incentives/ bonuses offered to clients.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
FXCM Trading Signals
Traders Union specialists analyzed the FXCM Markets 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 |
| Standard | From $13 | No, except for withdrawal by bank transfer |
| Active trader | From $2 | No, except for withdrawal by bank transfer |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that FXCM does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Can trading signals be provided for free?
Brokers may offer free and paid trading signals.
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
How are the signals provided via a newsletter?
A trader regularly receives trading signals to his/her email or personal messages in the account. As a rule, they are provided in the form of a report with screenshots of technical analysis.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.