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FXCM baskets are like indices — a basket indicates the performance of a group of products on the market on which traders can bet on. There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk. Forex — the foreign exchange market is the biggest and the most liquid financial market in the world.
As the name suggests, it is a trading simulator that enables traders to backtest their trading strategy. Users can log in to their demo accounts using their registered email address and password. Once the registration is complete, they receive $20,000 virtual money for trading. FXCM ranks among the most competitive brokers industry-wide, especially for high-volume traders using algorithmic trading solutions. Spread pricing data is available on the spreads cost page on their website. There are no side-by-side comparisons to help users determine the real cost of the trade, though.
FXCM provides customer service via toll-free numbers around the world in 42 countries in North and South America, Asia, the Middle East and Europe. The broker’s multilingual phone service and the live chat feature on its website are available 24 hours a day, 5 days a week. Trading forex on margin carries a high level of risk and may not be suitable for all investors.
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DEMO accounts are also available and are very useful for beginning traders, in addition they offer a large number of educational materials and resources as well as research. Among them you can find market analysis, news, seminars, guides, among others. In short, it is a very competitive offer for traders who want to invest with currencies and CFDs whether they are beginners or professionals. The FXCM group has companies registered and regulated by many of the most respected regulatory organizations in the world. FXCM together with Flextrade announced a technology partnership for FXCM’s institutional business and Flextrade’s “MaxxTrader” solution. Overall, due to the strong background of the broker, years of successful operation, and reputation in the financial world our financial experts find FXCM broker a reliable and safe trading environment.
FXCM no longer accepts U.S. clients because it had to pay $7 million in 2017 and give up its registration with the U.S. Commodity Futures Trading Commission for failing to disclose a deal with a market maker to its clients. The broker then sold its substantial number of U.S.-based accounts to Gain Capital that operates fxcm review FOREX.com, so U.S.-based traders might consider using that broker instead. Also, institutional investors, retail brokers, emerging market banks and hedge funds can take advantage of FXCM Pro. This high-end broking service gives institutional clients excellent pricing and access to the forex and CFD markets.
Glassdoor gives you an inside look at what it’s like to work at FXCM, including salaries, reviews, office photos, and more. All content is posted anonymously by employees working at FXCM. In all, you will find a professional, knowledgeable, and experienced global team at your disposal when you contact FXCM customer support. They are available around the clock through phone contact, email, or their website-based live chat service. You can also access some helpful information through the FXCM website directly that can often help to answer any questions you may have.
Users can have access to a plentitude of good research tools. FXCM is currently owned by the reputable Jefferies Group, formerly known as Leucadia National Corporation. The brokerage is regulated by multiple regulatory bodies to include the Financial Conduct Authority and the Australian Securities & Investment Commission .
How do I open FXCM account?
Check out the current account balance requirements at FXCM in our What is the minimum account balance at FXCM article. Is FXCM legit features all the key aspects you need to look at to see if a broker is safe and legit. The company’s more than 20-year history signals https://forex-reviews.org/ that FXCM can sustain operations despite periods of economic distress. The company had been fined multiple times from 2005 to 2017 and there were name changes also. The stock exchange listing increases transparency, as the company publishes annual reports.
FXCM is regulated in the UK by the FCA and other Top-Tier financial regulators, which makes them trustworthy because they are compliant with the regulations. However, it is important to know what is causing the movements. Videos are released daily by FXCM discussing factors moving the market, and trading ideas.
Users interested keen on algorithmic trading can use Trading Station, MetaTrader4, NinjaTrader 8, and TradingView, while copy or social trading users can use ZuluTrader and Trader Workstation. However, as per our findings for this review, the Active Trader account can access all the platforms, while the standard accounts are limited to using only specific platforms. The fees on FXCM are moderate because you do not pay commission for trades, inactive account fees start after 1 year, and you can have lower spreads if you trade large volumes and become an active trader.
Nevertheless, FXCM has two main types of accounts; demo account and real account. The demo accounts help users to strategize and test them for better gains. FXCM has a plethora of trading tools, research materials, and education tutorials to make trading hassle-free for both beginners and professional traders. FXCM is also good for beginners because you can open a demo account and access educational materials to boost your knowledge. Retail clients also have negative balance protection and cannot lose more than the money in their accounts.
- They also provide professional education and research sections available for free.
- The company’s portfolio includes indices, commodities, forex, CFDs and cryptocurrency products.
- It also executes trades in real-time to understand how best the strategy works before trading for real.
- Also, the selection of the instruments might vary based on the entity you are registered with.
FXCM also supports multiple platforms for trading although they offer relatively fewer instruments. It operates with a significant number of client accounts which can select from various types of accounts, and access to very competitive spreads on different instruments. Deposits and withdrawals can be made through a variety of payment methods which facilitates the operation. It has excellent business functions easily adaptable to all types of traders.
It is well structured and covers the basics of forex trading including the definition of commonly used terms. To deposit funds from FXCM, log in to your account via /fxma/login, then click on Funds and select Withdraw. Choose a withdrawal method, enter the amount you want to withdraw, and follow the on-screen instructions to complete your withdrawal. All withdrawals are processed within 1-3 days by the accounts department. It can take up to 5 business days for you to receive the funds, depending on your card processor or e-wallet.
UK Forex Awards 2015 BEST FOREX TRADING AUTOMATION
FOREX.com, registered with the Commodity Futures Trading Commission , lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade. The broker has 2 support email addresses that give you access to general or account-specific inquiries. You can even contact the FXCM trading desk and place orders directly if you have a problem such as no Internet access or a failure to connect to an FXCM server. But finding a good Forex broker can be difficult because there are so many to choose from.
They also provide professional education and research sections available for free. One of the reasons for FXCM’s popularity among traders is its customer service team. The trading platform offers 24 hours customer service five days a week, where users can reach them via phone, email, and SMS. There is also a trading desk that provides direct support to active traders 24/5. MetaTrader 4 or MT4, NinjaTrader 8, TradingView, and ZuluTrade, among others, are some of the forex trading platforms.
It has also won the Most Transparent Forex Broker – in the Global market category, which was given by global forex awards. FXCM maintains an excellent choice of trading platforms with a distinct focus on algorithmic trading. Besides MT4, traders may use the proprietary Trading Station or Ninja Trader. Social traders may connect to ZuluTrade, and FXCM offers services by TradingView Pro free of charge for one year to all new clients. Trading Station is equipped with a charting package, intensive support for automated trading solutions, advanced indicators, and market data provided free of charge. Generally, Forex brokers offer several different levels of real accounts with different trading conditions (leverage, spreads, commissions, etc.) depending on the minimum deposit amount.
It provides a good trading experience for all kinds of investors, be it beginners or advanced traders. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com.
It contains the same features you come to expect from the Trading Station platform, which also includes backtesting strategies and automated trading strategies. FXCM’s Trading ViewAdditionally, you can use the MT4 Web Access and the TradingView web access platforms. So if you prefer trading through your browser, then you have an abundance of options available. Spread betting provides tax-free profits and allows bettors to profit from rising or falling markets―without owning any of the underlying assets. FXCM is a multi-asset broker, this means they offer different assets that are allowed to be traded under one account. By using the effective spread chart provided, you can see they quote a 1 pip spread on average for EUR/USD, however, the effective spread over this time has been 0.4 pips.
Looking for a buy entry at 107.57, where the overlap support is. Stop loss will be at 92.32, where the previous swing low is. Take profit will be at 125.48, where the market gap and resistance level is. Looking at the H4 chart, my overall bias for LTCUSD is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market.
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I recommend traders read and understand the terms and conditions before accepting incentives. Should traders require assistance, they may call the toll-free numbers provided, use messaging app WhatsApp, e-mail the support team, engage via live chat, or contact the trading desk. The extensive support system in place is superior to most competitors, but very few traders will be likely to ever require it. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.
FXCM offers access to trade following assets on MetaTrader 4 and Trading Station. The asset selection at FXCM remains somewhat limited but sufficient for trading strategies requiring fewer highly liquid assets. It is unfortunate there is not a wider choice of Forex currency pairs as the infrastructure implemented by FXCM provides excellent trading conditions.
Thus, users can reach them via the means mentioned above or directly visit their nearest office. For general inquiries and account related inquiries, users can send an email to and , respectively. Forex Capital Markets Limited , popularly known as FXCM, is a forex and CFDs trading, spread betting broker based in the UK. As one of the oldest brokers, FXCM has been in the forex and CFD trading industry for over two decades.
Users can choose FXCM’s own Trading Station or some of the other well-known trading platforms like MetaTrader 4, ZuluTrade, and NinjaTrader. Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money. You should engage in any such activity only if you are fully aware of the relevant risks. BrokerChooser does not provide investment or any other advice, for further information please read our General Terms and Conditions.
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As opposed to indices like the FTSE 100, FXCM offers shares baskets of only five or six companies. FXCM accepts traders from the UK, Australia, France, India, Israel and many other countries. Please try again later or contact We apologize for the inconvenience. Trade popular currency pairs and CFDs with Enhanced Execution and no restrictions on stop and limit orders.