FXCM Ratings & In-Depth Review

Overview: Forex Capital Markets or FXCM is based in United Kingdom and has been around since 1999. At the moment FXCM is regulated by the FCA in the UK, FSCA in South Africa, IIROX in Canada, BaFin in Germany and ASIC in Australia. The company has offices around the world, with locations in South Africa, Canada, Germany, Greece, Hong Kong, Israel, Italy, France, Australia and the UK. Traders enjoy enhanced execution and trade with exchanges rates provided by international banks, financial institutions and other market makers, resulting in the lowest variable spreads possible.

Account: A Standard account with a $50 minimum deposit for new and experienced traders who want to make the most of FXCM’s trading tools. The average Standard Account spread is 1.3 pips for the EUR/USD pair and 1.8 pips for GBP/USD. Active Trader accounts are available to high volume traders with a minimum combined trading volume of 10 million USD a month, for the best trading conditions with many perks/features and a tier based rebate program. They also offers a demo account that expires after 30 day of inactivity. All trading platforms are available for use on the demo accounts for you to try.

Minimum deposit: $50 for standard accounts and up to $25,000 for Active Trader accounts.

Maximum leverage*: 30:1 EU, up to 1:400 leverage. For some countries major currency pairs default to 30:1, non-major currency pairs, gold and major indices default to 20:1, commodities other than gold and non-major equity indices default to 10:1 and cryptocurrencies default to 2:1.

Features: FXCM offers a proprietary trading platform Trading Station with a user-friendly and intuitive environment is suited for professional traders. Their proprietary trading platform features robust chart tools, real volume market depth and it highly customizable. It also offers Meta Trader 4 web based and mobile trading. Rebates for active trader accounts with dedicated support, expedited processing requests for deposits/withdraws.

Education: FXCM is a rich resources in the form of market insights, forex training videos, economic trading calendars, trading guides and more. FXCM is more so for intermediate to professional traders and doesn’t exactly cater to beginner traders.

Deposits/Withdrawals: Deposits offered via debit or credit card, bank wire, Skrill, Union Pay and Neteller, taking 1 to 2 business days. Withdrawal forms are processed in 1 to 2 business days. Withdrawals can be made through bank wires, debit or credit cards and other e-wallet options.

Customer service: 24/5 chat available, along with email support, and toll free numbers in various countries including Germany, Australia, Canada, Greece, Italy and UK.