FXCM
Min $300
- Min Deposit $300
- 30:1 Max Leverage
- Forex, Crypto, Stocks, Commodities & Indices
- Credit/Debit card, Bank transfer, Electronic wallets
- Web Trader, Mobile App, Desktop Trader, MetaTrader 4, NinjaTrader, ZuluTrade
- Regulated by FCA, ASIC, FSCA
- 16 Languages Supported
- Free Trading Signals
- Best Forex Trading Platform at Global Forex Awards 2020
- 120+ Tradable Assets
- No ETFs
- Up to $40 bank transfer withdrawal fee
- No 24/7 support
FXCM Review
FXCM (Foreign Capital Markets) is an online trading platform for the foreign exchange market, commodities such as crude oil and gold, as well as CFDs on major indices. It was founded in 1999 in Ney York and it operated under the name Leucadia National Corporation until 2018. Today it sits under the FXCM Group, it’s owned by Jefferies Financial Group and it’s based in London.
FXCM Fees Review
- Low trading fees
- Low CFD fees
- Up to $40 bank transfer withdrawal fee
- $50 annually inactivity fee after 1 year of no trading
CFD Fees
CFD trading fees are low on FXCM. E.g., for a $1,000 long position held for a week, the fees are:
| S&P 500 index CFD fee | Europe 50 index CFD fee | Apple CFD fee | |
|---|---|---|---|
| Fees | $1.1 | $0.8 | $0.9 |
Forex Fees
Forex trading fees are high on FXCM. E.g., for a $10,000 30:1 long position held for a week, the fees are:
| EURUSD | GBPUSD | AUDUSD | EURGBP | |
|---|---|---|---|---|
| Fees | $8.2 | $6.1 | $6.5 | $5.9 |
Non-trading Fees
| Account Fee | Deposit Fee | Withdrawal Fee | Inactivity Fee |
|---|---|---|---|
| $0 | $0 | $0 for credit/debit cards, but $40 for bank transfers | $50 per year after one year of inactivity |
FXCM Deposits & Withdrawals Review
- No deposit fee
- No Credit/Debit card withdrawal fees
- High bank transfer withdrawal fees
Account Base Currency
Your FXCM account can be in one of these 4 currencies: GBP, USD, EUR or CHF.
Deposit & Withdrawal Currency Conversion Fees
FXCM charges withdrawal fees on bank transfers. The actual amount depends on when the country where the account is based.
| USD | EUR | GBP | |
|---|---|---|---|
| Bank transfer | $25 in the UK and US and $40 outside the UK or US | €15 in the UK, France, Germany and Italy and €30 outside those countries. | £15 in the UK and £30 outside the UK |
| Credit/Debit card & Electronic wallets | None | None | None |
How long will it take for my deposit to show on FXCM?
When will I have access to my money if I withdraw from FXCM?
What is FXCM minimum deposit?
Can I withdraw any amount?
Does FXCM charge withdrawal fees?
Are there any terms on where I direct any funds I withdraw?
Make your First Deposit with FXCM
back to menu ↑FXCM Account Types Review
You can easily open an FXCM account online, using your email address. Then you get two options: you can either try out the platform using play money with a demo account or you can start trading directly with a live account. Once you deposit funds, you’ll need to verify your identity by uploading a copy of your passport or ID and your residency by uploading a copy of a utility bill or bank statement. The whole process should take about a day.
Platform Languages
The FXCM platform is multilingual with 16 languages: Arabic, Chinese, English, French, German, Greek, Hebrew, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Turkish.
Open a Trading Account with FXCM
back to menu ↑FXCM Platforms & Assets Review
- Web Trader, Mobile App, Desktop Trader, MetaTrader 4, NinjaTrader, ZuluTrade
- Free Trading Signals for Live Accounts
- No ETFs
Trading Signals
FXCM offers free forex trading signals with all live accounts and you can also benefit from them during the free 14-day trial. FXCM’s forex trading signals apply to 39 currency pairs.
back to menu ↑FXCM Customer Service Review
- Live chat
- Phone support
- No 24/7 support
FXCM offers customer support over live chat and email, the agents are quick to respond and knowledgeable. There’s also a phone support service which is available in 42 countries.
back to menu ↑Is FXCM safe?
| Regulator | License | Legal Entity |
|---|---|---|
| Financial Conduct Authority (FCA) | 217689 | Forex Capital Markets Limited |
| Australian Securities and Investments Commission (ASIC) | 309763 | FXCM Australia Pty |
| Financial Sector Conduct Authority of South Africa (FSCA) | 46534 | FXCM South Africa (PTY) LTD |
Is FXCM safe?
- Yes, it is authorised and regulated by the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investment Commission (ASIC) and the Financial Sector Conduct Authority of South Africa (FSCA).
Is there negative balance protection on FXCM?
- No. FXCM expects you to make sure you don’t end up with a negative balance. If you do you will need to cover the amount with additional payments.
Specification: FXCM
|
Videos: FXCM
Photos: FXCM
