Please note that due to FCA regulation, UK retail traders are not able to trade cryptocurrencies with UK brokers. If you want access to crypto markets, you will need to sign up for an FXCM subsidiary outside of the United Kingdom. When comparing the spreads to other brokers, FXTM at first glance appears to have only average spreads.
How can I open an account with FXCM?
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing money. FXCM is in the process of an entire rebranding of its services and products. This is to make it more competitive as it attempts to break away from its tainted past. The product offerings have been worked on and suit beginners and advanced traders alike. FXCM cannot be said to be fully legit; its past infractions have put a stain on the firm that will be hard to shake off.
Trading Station Web
What this all means is that you can get your trades execute quickly and at the best available prices at all times. FXCM states that the advanced trading technology implemented is responsible for providing execution speeds of 31 milliseconds. I would always prefer to use a broker without a dealing desk is it removes any potential conflict of interest. The online broker even provides wholesale trade execution and liquidity solutions for retail forex brokers, smaller hedge funds and emerging markets banks through its FXCM Pro service.
Forex Tools
It is also not as widely available compared to MT4 which is something to consider if you plan on switching brokers down the line. If you are interested in increasing potential opportunity in the forex, NinjaTrader can help take market analysis and order execution to the next level. FXCM is an established and regulated online broker with a superb range of powerful and versatile trading platforms, including FIX API connectivity for institutional trading.
Before working at TradingPlatforms, Dassos worked as a writer for EuropeFX Financial Services. It was during his time here that he developed a passion for financial writing and grew his knowledge of trading, investing and cryptocurrency. When it comes to payment options, eToro supports an array of deposit methods such as via debit cards and credit cards, Neteller, PayPal, and more. After having completed the application you will be given your login credentials.
- FXCM offers a choice of payment methods consisting of Bank wires, Credit/debit, PayPal, Google Pay, Apple Pay, Open Banking, Skrill, Neteller, Klarna, Rapid Transfer, China UnionPay, and Cryptocurrencies.
- All financial transactions occur in the secure back office of FXCM, MyFXCM.
- FXCM offers a free demo account for traders to practice trading in a risk-free environment.
- ✅Now that your account has been paid, you may start trading and interact with the markets using the trading platform of your choice.
- The store contains over 50 MT4 apps, over 50 Trading station apps, over 10 NinjaTrader apps and over 10 standalone apps.
It has all the powerful trading tools for efficient trading and market analysis. I found the mobile app very easy to use although it is slightly limited in functionality when compared to the desktop platform. However, it is ideal for tracking your trades and following the markets whilst on the go.
The FXCM integration allows traders access to this vast pool of information and automates their trades based on signals provided by approved traders. ZuluTrade is a platform for social trading that empowers traders to discover and duplicate the tactics of proficient traders. It fosters a community-based trading method where users can benefit from the collective knowledge of seasoned market experts. It draws many due to the sophisticated automated trade functions supported by Expert Advisors (EAs) and its ability to handle multiple order types seamlessly.
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. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.
The quickest method to use when depositing funds to your account is with a credit card or debit card. It is recommended that all FXCM users call the trading desk if they cannot access the internet, they fail to receive a confirmation when placing an order online, or they cannot connect to the FXCM servers. Funds deposited via debit cards and credit cards are typically processed instantly, whereas bank wire deposits usually take 1-2 business days.
As we mentioned before, there is no dedicated area for the charts, but if you do build a layout that includes just a big chart, then you’ll have created your fullscreen trading area. While testing the platform, we used a 13” Macbook Pro, so our screensize did not allow for the standard layout to be fully visible, https://traderoom.info/ meaning that we had to scroll down to gain sight of the other blocks. The next important thing is that users can store their favourite symbols right at the home’s watchlist. Sadly, it is a single watchlist and there is no possibility to create different ones and the limit for the watchlist is 20 different assets.
This is FXCMs offering to all clients who don’t qualify as an Active Trader. This account is a commission-free account, which means the trading costs are included in the spreads. This explains why spreads https://traderoom.info/fxcm-an-overview/ are wider than commission-based accounts such as the Active Trader account. Trading Station is their proprietary platform that offers traders an advanced yet user-friendly trading experience.
Some cases, the things that are been advertised are not true for Canada. We strive to provide the best service possible, and we assure you that the quality will only improve further in the future. As we strive to excel in our industry, we are honored to have clients like you.
If there is anything more for which you may require our assistance, don’t hesitate to contact us. Jacobo helped me out through the whole process from the first time he reached out to me to offer his help with the documentation to the very last moment I finally got to have my real account activated. To save your time, if you’re looking for ETFs, Stock, commodities, Futures, Options or a wide variety of cryptocurrencies, you’ll find FXCM’s offering quite limited.
Often, withdrawals are processed by FXCM in 1-3 business days, but it can also take as long as 3-5 business days. FXCM supports a wide range of payment providers making it easy to deposit and withdraw from your brokerage account. As for the credit and debit card deposits, they are often available immediately. Market orders, limit orders, stop-loss orders, and trailing stop-loss orders are available.
For UK and EU traders only, the FXCM demo account functions like the live trading platform, except that traders are given £50,000 practice credits to test out the functionalities of the platform. The retail account is standard, to which this review is primarily suited. The main differences between the active trader and professional accounts are outlined below. FXCM was one of the first brokerage firms to offer online forex trading to retail traders.
