FXCM
Min $50
- Min Deposit $50 (depending on payment method)
- 30:1 Max Leverage1
- Forex, Crypto2, Shares, Commodities & Indices CFDs
- Credit/Debit card, Bank transfer, Electronic wallets3
- MetaTrader 4 (web, desktop & mobile), NinjaTrader, ZuluTrade
- Regulated by FCA, ASIC, CySEC, FSCA
- 10+ Languages Supported
- Free Trading Signals
- Best Forex Trading Platform at Global Forex Awards 2020
- 300+ Tradable Assets
- No ETFs
- Up to $40 bank transfer withdrawal fee
- No 24/7 support
FXCM Review
FXCM (Forex Capital Markets) is an online trading platform for the foreign exchange market, CFDs in commodities such as crude oil and gold, as well as major indices. It was founded in 1999 is now headquartered in London. Today Jefferies Financial Group Inc. has become the majority economic owner of FXCM.
FXCM Fees Review
- Low trading fees
- Low CFD fees
- Up to $40 bank transfer withdrawal fee
- 50 (units of the account’s base currency) annually inactivity fee after 1 year of no trading
CFD Fees
Please note that the below examples are indicative only (Rate Card, FXCM EU LTD, 13 August 2021).
| Forex (default pricing model)/Forex Baskets | |
|---|---|
| Example | Client buys 10k EUR/USD on a USD account and keeps the position open for a day. |
| Spread | 1.3 pips |
| Cost of Trading | Spread × pip cost × number of lots or contracts traded (1.3) × (0.10 USD) × (10) = 1.3 USD |
| Rollover | (Intra Bank Swap rate × pip cost) x (1 ± mark-up) (-0.25 × USD 1) x (1 + 35 %) = -USD 0.34 |
| Forex (commission pricing model) | |
|---|---|
| Example | Client buys 10k EUR/USD on a USD account and keeps the position open for a day. |
| Spread | 0.2 pips |
| Commission | USD 0.40 USD per side (USD 0.80 USD total) |
| Cost of Trading | Spread × pip cost × number of lots or contracts traded (0.2) × (0.10 USD) × (10) = 0.2 USD |
| Rollover | (Intra Bank Swap rate × pip cost) x (1 ± mark-up) (-0.25 × USD 1) x (1 + 35 %) = -USD 0.34 |
| Commodities | |
|---|---|
| Example | Client buys 10 Contracts of XAU/USD on a USD account and keeps the position open for a day. |
| Spread | 41 pips |
| Cost of Trading | Spread × pip cost × number of lots or contracts traded (41) × (0.01 USD) × (10) = 4.1 USD |
| Rollover | (Intra Bank Swap rate × pip cost) x (1 ± mark-up) (-0.25 × USD 1) x (1 + 35 %) = -USD 0.34 |
| Indices/Index Baskets | |
|---|---|
| Example | Client sells 10 Contracts of US30 on a USD account and keeps the position open for a day. |
| Spread | 2.26 pips |
| Cost of Trading | Spread × pip cost × number of lots or contracts traded (2.26) × (0.10 USD) × (10) = 2.26 USD |
| Shares | |
|---|---|
| Example | Client buys 10 Contracts of AAPL.us on a USD account and keeps the position open for a week. |
| Spread | 14 pips |
| Cost of Trading | Spread × pip cost × number of lots or contracts traded (14) × (0.001 USD) × (10) = 0.14 USD |
| Dividend | USD 0.04 × 75% = USD 0.03 |
| Stock Baskets | |
|---|---|
| Example | Client buys 1 Contracts of FAANG on a USD account and keeps the position open for a day. |
| Spread | 1.93 pips |
| Cost of Trading | Spread × pip cost × number of lots or contracts traded (1.93) × (1 USD) × (1) = 1.93 USD |
| Dividend | USD 2.00 × 75% = USD 1.5 |
| Cryptocurrencies/Cryptocurrency Baskets | |
|---|---|
| Example | Client buys 10 Contracts of ETH/USD on a USD account and keeps the position open for a day. |
| Spread | 1.21 pips |
| Cost of Trading | Spread × pip cost × number of lots or contracts traded (1.21) × (0.10 USD) × (10) = 1.21 USD |
Non-trading Fees
| Account Fee | Deposit Fee | Withdrawal Fee | Inactivity Fee |
|---|---|---|---|
| $0 | $0 | $0 for credit/debit cards, but $40 for bank transfers | 50 units of the account’s base currency 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
FXCM account’s base currency include GBP, USD, EUR, CHF and more.
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 for non-SEPA payments. | £15 in the UK and £30 outside the UK for non-BACS payments |
| 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?
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.
Platform Languages
The FXCM platform is multilingual with 10 languages, including: English, French, German, Italian and more.
back to menu ↑FXCM Platforms & Assets Review
- MetaTrader 4 (web, desktop & mobile), NinjaTrader, ZuluTrade
- Free Trading Signals for Live Accounts
- No ETFs
Trading Signals4
FXCM offers forex trading signals to all clients (except clients who reside in the EU). Clients with live accounts can enjoy free access to trading signals for 14 days trial.
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 (“FXCM LTD”) |
| Australian Securities and Investments Commission (ASIC) | 309763 | FXCM Australia Pty Limited (“FXCM AU”) |
| Cyprus Securities and Exchange Commission (CySEC) | 392/20 | FXCM EU LTD (“FXCM EU”) |
| Financial Sector Conduct Authority (FSCA) | 46534 | FXCM South Africa (PTY) LTD (“FXCM ZA”) |
Is FXCM safe?
- Yes, it is authorised and regulated by the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investment Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority (FSCA).
Is there negative balance protection on FXCM?
- Yes. It is offered to retail clients who onboard with FXCM LTD, FXCM AU or FXCM EU.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM EU LTD: CySEC license number 392/20 (www.fxcm.com/eu)
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
All references on this site to “FXCM” refer to the FXCM Group.
1Leverage: 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.
2Cryptocurrency products are currently not available to retail clients residing in the UK.
3Electronic wallets are currently not available to clients residing in the EU.
4The trading signals are currently not available to clients residing in the EU. The Trading Signals do not constitute and should not be regarded as an investment advice. You act on the signals entirely at your own risk.
Specification: FXCM
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Videos: FXCM
Photos: FXCM
