FXCM broker review: reliability and ease of use

Regulation and security

FXCM is regulated by leading global authorities, including the Financial Conduct Authority (FCA) in the UK, which guarantees a high level of protection and security for client funds. The broker uses advanced data protection technologies, ensuring confidentiality and security of transactions.

Trading instruments

FXCM offers access to a variety of trading instruments. Such a wide selection allows traders to have a flexible approach to shaping their investment strategies.

Available assets include:

• Currency pairs
• Actions
• Indexes
• Goods
• Cryptocurrencies

Account types and fees

The broker offers several account types, adapted for different categories of traders, from beginners to professionals. FXCM is known for its competitive spreads and low fees, making it attractive to active traders. The broker charges rollover and withdrawal fees. An FXCM trading account is considered inactive after no trading activity in a 12 month period. A fee of up to $50 is charged to inactive accounts every 12 months.

Standard

Minimum deposit: $50 (ASIC, FSCA), or $300 (CySEC, FCA)

Best for: casual traders

Spreads: from 1.3 pips (floating)

Leverage: up to 1:30

Special features: —

Active trader

Minimum deposit: $50 (ASIC, FSCA), or $300 (CySEC, FCA)

Best for: high-volume traders

Spreads: from 1.3 pips

Leverage: up to 1:30

Special features: dedicated support, up to 2 free withdrawals per month, expedited processing times, rebate pricing (ASIC only)

Professional

Minimum deposit: $50 (ASIC, FSCA), or $300 (CySEC, FCA)

Best for: professional traders

Spreads: from 3 pips

Leverage: up to 1:200

Special features: cashback (ASIC), no negative balance protection

Islamic

Minimum deposit: $50 (ASIC, FSCA), or $300 (CySEC, FCA)

Best for: muslim traders

Spreads: from 1.3 pips, additional mark-up from 0.4 pips

Leverage: up to 1:30

Special features: no rollover fee

Platforms

FXCM uses several platforms, including the popular MetaTrader 4 and its own Trading Station platform. Both platforms provide powerful analytical tools, charting and automated trading options, providing traders with flexibility and ease of use.

Education

FXCM actively supports education of its clients by providing access to an extensive library of educational materials, including webinars, seminars, video tutorials, and e-books. It helps traders improve their knowledge and skills in various aspects of trading.

Advantages and disadvantages

Pros:

• Strong regulation and high level of safety
• Wide range of trading instruments
• Powerful trading platforms
• Extensive educational resources

Cons:

• Not the widest selection of cryptocurrencies compared to specialized crypto exchanges
• Platforms can seem daunting to newbies without prior training

Summary

FXCM is a trusted broker that offers traders an excellent trading environment backed by strong regulation and protection. With a wide selection of instruments, competitive fees, and quality platforms, as well as extensive educational opportunities, FXCM deserves the attention of both newbies and experienced traders. The broker’s commitment to transparency and customer service further enhances its reputation in the industry. Additionally, FXCM’s continuous innovation in trading technology ensures that clients have access to the latest tools and resources. Overall, FXCM stands out as a reliable and comprehensive choice for traders.