Best Forex Brokers

Besides, it also has licenses from top-tier financial authorities from across the globe. d) Corporate/Trust Accounts are for corporations, trusts, partnerships and individual joint account holders. “FXCM’s stock plunge to record low highlights risks to retail currency investors”.

FXCM Forex Broker Review

In August 2011, the National Futures Association issued a $2-million fine to FXCM for slippage malpractice. All clients affected by price slippage were compensated within 30 days as part of the terms of the NFA deal. In October of that year, the Commodity Futures Trading Foreign exchange market Commission ordered FXCM to pay $14.2 million in restitution to clients who had not been awarded positive slippage gains. From 2005-January 2017, FXCM faced a total of 13 CFTC reparations cases, 17 NFA arbitration decisions, and 8 other regulatory actions in the U.S.

Our Recommendations: Xm Or Fxcm

The research tools and materials are ideal for a broad spectrum of skill levels ranging from beginners to professional traders. Some of the research materials are derived from Trading Central,, FXStreet, and eFXData. On the web version of FXCM, traders can also access the market screener research tool.

FXCM Forex Broker Review

So, it’s all a question of how you want to give away your money to them. And in their forum, say anything negative abou them & they’ll remove the post & ban you. The connection and execution is terrible, I have been stopped out of trades prematurely numerous times with no compensation offered by FXCM. Auto updates on the MT4/Meta quotes platform cut me from three swing trades only yesterday, after a call to FXCM they tell me this sort of error happens occassionaly!! Customer service is dreadful and the audit form investigation team is automated. I think FreshForex is a good broker, been trading with them some years now, very good customer service, swift deposits and withdrawals.

Learn To Trade

Last fall I was swamped with work and neglected my trading with FXCM. I missed a deadline for keeping my account open, in December last year. A lot of my friends do get scam by FXCM however FXCM do have large accounts from companies and thats where they make their big commissions. Anyone going for scalping will be at a serious disadvantages because of the spreads. My trades normally are very small at about $0.10 to $0.30 per pip. I wouldnt go beyond than that because at these sort of trades, i would say it will be under Market Maker, not direct. I have been making losses often enough that i had to remove my stop loss because those stop losses are like 50 pips away and when it touches, automatically the trades goes the other way.

FXCM Forex Broker Review

FXCM Pro is the institutional arm of the FXCM platform that provides liquidity solutions and wholesale Forex and CFD trade execution for hedge funds, market banks, and retail brokers. This association of FXCM with banks, financial institutions is the major reason for the overall reach of FXCM across financial markets globally. FXCM Plus is the live account portal of the FXCM online platform that has tools to maximize gains via technical analysis and trading signals. All live trading accounts can make use of FXCM Plus feature after their successful registration. During our research for this review, the FXCM web version claimed to be offering over 52 trading indicators and 26 trading tools. Nevertheless, the web version does not have all the features found in the desktop version. Thus, as per our Trading Station review findings, the desktop version is ideal for advanced traders, while Trading Station web 2.0 is easy to use for beginners or new traders.

I have compared FX spreads quoted by Plus500 with FXCM at the same time and see that the spreads on Plus500 seem rather wide. I have found spreads on FXCM remain variable, but narrower than competitors and do not increase once profits are made. I have withdrawn thousands of pounds from my FXCM account and have had no problems. I don’t really support FXCM Forex Broker Review FXCM, but it seems that you’re trading without any understanding of how things work, which will make your fall whatever broker you use. if you successfully win small they’ll leave u alone but if u trade big they seem to work against you with massive open/close price. You can’t execute a trade all the time when it does not work in the broker’s favor.

It is because of its steadiness; it tends to be depended on to attempt even the most popular trading. To open a trading account at FXCM, you need to undergo a 3 step process.

Complete the registration form by filling in all the required fields and then submit the form by clicking the “Continue” button. The final step of the account opening process is when you deposit funds into your trading account. Take note that you also need to verify your account in order to complete the account opening process. The verification of your identity and residential address is due to international anti money laundering legislation. This process require you to furnish FXCM with a copy of your government issued ID and a bank statement what is less than 6 months old.

Forex Brokers Rating Information

They also allow their users to trade commodities like silver, gold, and crude oil. FXCM customer support is available 24 hours a day, 5 days a week, and you can contact the broker via email, phone, or live chat.

For general inquiries and account related inquiries, users can send an email to and , respectively. Trading Forex and CFDs is often a risky endeavor where user accounts Retail foreign exchange trading lose money. To analyze the risk involved and to minimize it, we recommend users first try the demo account rather than starting with real-time trading.

FXCM features a MyFXCM user portal where the traders can deposit and withdraw funds in a few simple steps. All they need to do is log in to their accounts and choose either deposit or transfer option in the account summary section for depositing and withdrawing funds, respectively. When they click the viable option, users are directed to the payment page to select a suitable payment method as per their convenience. The Trading Station platform’s web version has a plethora of trading tools and features, including and not limited to; research analysis from Trading Central links to external resources, trading signals, etc. It is based on HTML5 and has useful elements like economic calendar, Education and Research, trading analytics, FXCM Cloud, and Charts. The broker offers some of the most reliable trading platforms, including its proprietary Trading Station. These trading platforms have some of the most sophisticated tools to help both beginners and professionals.

Once the registration is complete, they receive $20,000 virtual money for trading. Since the investment goals between individual traders will vary greatly, it doesn’t make sense to rank each broker. Rather, we highlighted some of the key features of the brokerages that scored 5 stars in investment offering. Even among 5-star brokerages, there will be small factors that might make one of them a better fit for a particular trader’s investment strategies. Ultimately, traders need to be able to rely on the information that is presented to them. This information should contribute to a trader’s market analysis, as well as their specific trading strategy. In the end, Dukascopy does the best job of presenting information that is factual, timely, and organized.

Fortunately, our seasoned forex veterans spent hundreds of hours sifting through brokerage sites, downloading platforms, and analyzing spread data. The result of this effort is the most comprehensive and unbiased forex broker review available. Our ranking system breaks down and dissects seven major categories that brokerages should be offering their clients. Particularly Foreign exchange autotrading for novice traders, FXCM offers educational courses on currency trading. Moreover, the company supplies its clients with free news and daily elaborate market research prepared by highly professional financial experts. In case of any difficulties on the part of a trader, FXCM client support is always there to give prompt and helpful response.

Real Account

The educational section is one of the strongest suits when it comes to the company. The Trading Station is FXCM’s one of a kind trading platform, intended for their service. It exceptionally offers the customers with the best trading experience. Trading Station is accessible on different platforms such a desktop, a web program and iOS and Android devices. It gives extra highlights, for example, propelled diagrams, robotized trading systems, and simple single tick trading. After you have chosen your country of residence and preferred trading platform, you can click on the “Begin Application” button.

The result of any margin call is subsequent liquidation unless otherwise specified. When a margin call is triggered on the account individual positions will be liquidated until the remaining equity is sufficient to support existing position. In deciding what positions will be individually liquidated the largest loosing position will be closed first during liquidation. i am requesting my funds to be returned to my account where they belong immediately, since FXCM has been holding my funds wrongfully for a long time. Hi,it has been 7 since the wrongful liquidation by FXCM & you havent refunded my account. You should have had your proofs by now in 7 day, showing that wrongful liquidation was my fault. FXCM Mislead their clients with wrong information to then close their accounts and hold the funds.

  • With FXCM, you can benefit from all of the charting tools MetaTrader 4 is well known for and you can also enjoy a high level of customization and trading on the go.
  • The FXAP allows traders and investors one time or monthly purchases of foreign currency to take advantage of dollar-cost-averaging.
  • To start, they offer no premium accounts or tiered commission structure to speak of.
  • We recommend them to consult financial experts or financial services for expert advice on Forex and CFDs trading.
  • Traders facing numerous challenges, however time and even capital loss due to emotion-based trading are the main barriers to success.
  • The average spread for EUR/USD is 1.3, and users can view an updated list of average spreads on the “Spread Costs” page.

Its one-contact trading makes it quick and proficient at getting your trades set when you need them. Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you are fully aware of the risks involved and the high probability of losing your money. Please note that whilst FXCM offers competitive leverage amounts, leverage is a double-edged sword. Whilst it can dramatically amplify your profits, it can also just as dramatically amplify your losses.

The various platforms do not have comparable pricing structures and I find the best outcome is achieved by using one platform for, say, index futures and another for, say, FX pairs. There are differences between providers that are difficult to compare unless accounts are opened. I note some providers list their overnight financing per instrument in a readily accessible table, whereas others provide the information primarily in the transaction record after the event. Perhaps this has its origins in different standards prevailing across territories. Because of the range of platforms offered by FXCM, there are options that are simple enough for beginners in addition to choices that have the features and tools experienced traders seek.

Key Features

Spreads for EUR/USD start from as low as 1.3 pip, and there are zero commission fees. With this account, you can trade all of the available instruments via all trading platforms. Investopedia is dedicated to providing traders and investors with unbiased, comprehensive reviews and ratings of online brokers. We established a rating scale based on our criteria, collecting thousands of data points that we weighed into our star scoring system. FXCM is one of the pioneer providers of online trading, foreign exchange or Forex trading, CFDs, Stocks, Commodities, Indices and spread betting.