FXCM is a branded company which specializes in dealing in the Forex market as an authority which provides a platform for Forex traders to trade in the foreign exchange market. FXCM is a Leucadia company which was established in the United States in 1999 but now has its headquarters domiciled in London. Over the years, they have grown to be a popular figure in the Forex trading market. Currently, the FXCM Group is regulated in the United Kingdom and Australia with some indirect affiliated offices located in South Africa, Japan and Canada.
- They make use of the Meta 4 Trading Platform
- FXCM doesn’t pay commissions to its traders.
- It has a platform for clients who lack trading experience in the Forex market
- Wide selection of trading platforms
- They provide Andriod and IOS Applications for traders to trade.
- It has versions available in desktop and web.
- Traders can view prices in real time.
- Traders and clients are sent email alerts and notification regarding activities in the Forex market.
- Clients are not provided with any form of bonuses, interest or promotions.
- There is no minimum amount for members to withdraw from their account.
- It has maximum available leverage of 1:30 for clients based in the European Union (EU).
- It has a maximum available leverage of 1:400 for clients based outside the European Country (EU)
FCXM is not restricted to a single language, it has a multilingual customer support which supports 14 different languages such as Spanish, French, English, Arabic, Chinese, German, Tagalog and Italian. They maintain a 24/7 customer service as clients can reach out to them through live chat on the company’s website or mail address.
FXCM supports different deposit and withdrawal options for their clients, traders and customers to fund their account and withdraw earnings and fund from their trading account. Payment options include bank wire transfer, credit/debit cards such as Visa and Mastercard.
- Members can withdraw any amount from their account as FXCM doesn’t specify a minimum amount for withdrawal.
- It offers 2 types of trading accounts.
- 24/7 Standby customer care support
- It is an FCA Regulated Broker
- Availability of different trading accounts for customers to choose from.
- Ultra Tight Spreads.
- It provides high quality trading analysis
- They don’t have incentives like giving interests to their clients in promotions and bonuses.
- Withdrawal through bank wire transfer attracts a fee of $40
- There is no ECN trading platform for its traders
- They have strict regulatory requirements which comes in place when withdrawing and funding of account.
IS FXCM a regulated forex broker?
Yes they are. FXCM are regulated by regulatory agencies in Canada, United Kingdom, South Africa and Australia. Asides from being a company regulated by the laws, FXCM has practices that ensures that its clients trade in a safe and secure trading environment which is not hacked and hijacked by scammers and fraudsters.
FXCm is a reliable and trusted Forex broker which guarantees safety of clients money. It is a good choice for beginners and new Forex traders to try out, because you can open a trading account for as low as $300.