FXCM Forex broker specializes in providing foreign exchange trading services, the company's official website https://www.fxcm.com/?cmp=7017V0000021tUDQAY&utm_source=fxeye&utm_medium=flatrate-text&utm_campaign=hplink, the company's legitimate regulatory information AustraliaASICMarket Making(MM),United KingdomFCAMarket Making(MM),CyprusCYSECMarket Making(MM),IsraelISARetail Forex License, to enhance the security of the company's address 125 Old Broad Street, 9th Floor, London EC2N 1AR, United Kingdom.
FXCM Forex Broker
Basic information
United Kingdom
Above 20 years Regulated in Australia Regulated in United Kingdom Regulated in Cyprus Regulated in Israel Market Making(MM) Retail Forex License MT4 Full License Self-developed Global BusinessCompany profile
FXCM Information
FXCM is a retail forex broker that was founded in 1999. The company is headquartered in London, UK, but has offices and affiliates in a number of other countries, including Australia, Germany, France, Italy, Greece, Hong Kong, Japan, South Africa, and the United States.
The company provides online trading services in forex, contracts for difference (CFDs), and other financial instruments. FXCM offers various trading platforms including Trading Station, TradingView Pro, MT4, and Capitalise AI.
Pros & Cons
| Pros | Cons |
| • Globally and heavily regulated | • Regional restrictions |
| • Multiple trading platforms to choose from | • Limited customer support availability on weekends |
| • Competitive spreads on forex pairs | |
| • Low minimum deposit requirement |
Is FXCM Legit?
FXCM is a legitimate broker with a long-standing reputation in the industry. The company is regulated by top-tier financial authorities, such as the FCA in the UK, the ASIC in Australia, CYSEC in Cyprus, and ISA in Israel, which ensures that it operates under strict financial and ethical guidelines. FXCM also has a solid track record of handling client funds in a secure and responsible manner.
| Regulated Country | Regulated by | Regulated Entity | License Type | License Number |
| Australia Securities & Investment Commission (ASIC) | STRATOS TRADING PTY. LIMITED | Market Making (MM) | 000309763 | |
| Financial Conduct Authority (FCA) | Stratos Markets Limited | Market Making (MM) | 217689 | |
| Cyprus Securities and Exchange Commission (CySEC) | Stratos Europe Ltd | Market Making (MM) | 392/20 | |
| The Israel Securities Authority (ISA) | STRATOS LIGHT LTD | Retail Forex License | 515234623 |
How are you protected?
FXCM provides negative balance protection and offers its clients access to segregated accounts, providing additional security measures. More details can be found in the table below:
| Protection Measure | Detail |
| Regulation | ASIC, FCA, CySEC, ISA |
| Segregated Funds | ✔ |
| Investor Protection | Up to £85,000 |
| Negative Balance | ✔ |
| Financial Audit | ✔ |
| Insurance | ❌ |
Our Conclusion on FXCM Reliability:
FXCM is a well-regulated and reputable broker with a long-standing history in the industry. The company is regulated by top-tier financial authorities and has multiple licenses, demonstrating a commitment to client protection.
Market Instruments
FXCM offers trading in five major classes of tradable assest, including forex, shares, commodities, indices, and cryptocurrencies, which provides traders with varying interests and strategies a broader portfolio.
| Trading Assets | Available |
| Forex | ✔ |
| Shares | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Accounts
FXCM seems to only offer a single live account type. Their website does not reveal specific info on account types.
However, it offers demo account options. FXCM's demo account, elaborately, provides a realistic trading experience with access to live market prices across multiple asset classes. Traders can receive $20,000 in virtual funds to practice executing buy and sell orders on FXCM's user-friendly trading platform, available 24/5. This risk-free environment enables traders to hone their strategies and gain confidence before transitioning to a live funded account.
Leverage
FXCM offers several leverage options for trading Forex (FX) and Contracts for Difference (CFDs), depending on the account equity.
For equity less than $5,000, traders can access up to 1000:1 leverage for both FX and CFDs.
Accounts with equity between $5,000 and $50,000 are eligible for up to 400:1 leverage on both FX and CFDs.
Accounts with equity greater than $50,000 can leverage up to 100:1 for FX and up to 200:1 for CFDs.
Trading Platforms
FXCM offers four different trading platforms for traders to choose from, Trading Station, MT4, Capitalise AI, and TradingView Pro. All are available on desktop, web and mobile devices.
| Trading Platform | Supported | Available Devices | Suitable for |
| Trading Station | ✔ | Desktop, Web, Mobile | / |
| MT4 | ✔ | Desktop, Web, Mobile | Beginners |
| Capitalise AI | ✔ | Desktop, Web, Mobile | / |
| TradingView Pro | ✔ | Desktop, Web, Mobile | / |
| MT5 | ❌ | / | Experienced traders |
Deposits & Withdrawals
FXCM welcomes several payment methods, including Bank Transfer, Visa, MasterCard, Google Pay, Neteller, and Skrill.
FXCM minimum deposit vs other brokers
| FXCM | Most Other | |
| Minimum Deposit | $50 | $100 |
Conclusion
In conclusion, FXCM is a well-established and reputable broker that offers a range of trading instruments and account types with competitive spreads and commissions. The broker's trading platforms are user-friendly and offer advanced features for traders of all levels. Additionally, FXCM provides educational resources and excellent customer support, including 24/5 live chat support.
However, FXCM is not available in all countries, clients from the USA, Canada, UK, European Union, Hong Kong, Australia, Israel and Japan are not accepted.
Frequently Asked Questions (FAQs)
| Is FXCM regulated? |
| Yes. It is regulated by ASIC, FCA, CySEC, and ISA. |
| Does FXCM offer demo accounts? |
| Yes. |
| Does FXCM offer industry-standard MT4 & MT5? |
| Yes. Not only MT4, but also Trading Station, TradingView Pro, and Capitalise AI. |
| What is the minimum deposit for FXCM? |
| The minimum initial deposit to open an account is $50. |
| Is FXCM a good broker for beginners? |
| Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions via multiple trading platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
Risk Warning
Trading online carries inherent risks, including the potential loss of your entire investment. It's essential to recognize that online trading may not be suitable for everyone, and individuals should carefully consider their risk tolerance before participating.