These amounts are the absolute maximum leverage on offer, but they may vary according to the asset traded, with more volatile assets generally providing lower amounts of leverage. They provide very well for an extensive number of features and tools to help you get the most out of a trading experience. This may be a very suitable service for the likes of high-frequency trading firms (HTFs), small and medium sized hedge funds, proprietary trading firms (Prop Shops), and small regional and emerging market banks. Crypto trading at FXCM is also available with 7 crypto assets up for trading. These include 1 cryptocurrency index, and 6 cryptos in the form of Bitcoin, Ethereum, Litecoin, Stellar, Ripple, and Bitcoin Cash.
Copy Trading & Investment Options Offered on FXCM Broker
With a CB Rank of 52,145, he holds a leading role in one of the most recognized companies in the retail and institutional trading industry. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates.
- This is significantly less than the 80+ at Forex.com or 300+ at CMC Markets.
- That way, users can specify what they are interested in, and receive news accordingly.
- FXCM Prime offers various services to clients such as high-frequency trading firms, hedge funds, proprietary trading firms, and small regional and emerging market banks.
- FXCM standard spreads generally fall in the midrange when compared with other brokers with the most competitive spreads on offer appearing to be for AUD/USD and USD/JPY currency pairs.
- This ensures that we accurately convey facts and events so that investors and traders can read our content with confidence and make informed choices.
Direct stock ownership, staking, and on-chain crypto features are absent—FXCM remains a dedicated environment for leveraged derivatives. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. fxcm canada review Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Each serves different needs—from beginners to high-volume traders—with varied spreads, leverage, and bonuses. FXCM applies swap (rollover) fees on standard accounts when positions are held overnight. These charges, credited or debited, reflect interest rate differentials between the currencies or assets traded. It is also a great option for active traders who benefit from an abundance of technical analysis tools, including over 150 analytical tools and a wealth of customisable charts and drawing tools. This platform is the most widely used platform by traders and the most offered platform by brokers, many consider MetaTrader 4 to be the ‘gold’ standard when it comes to platforms.
Trading Platforms
- These regulations provide certain protections for traders, including negative balance protection and segregated accounts, and ensure compliance with industry standards.
- My findings are based on first-hand use, not just reading the website.
- The account lineup is focused on derivatives trading, with a notable minimum deposit of $5,000 CAD for standard accounts.
- „Trading Finder,” with its experience, aids traders and investors in gaining a correct understanding and deep learning.
- FXCM broker is a perfect friend/platform for both a new trader and an expert.
- However, the fine print reveals that those values are not mandatory and that Friedberg Direct will consider all submitted data.
Click here for a full list of our partners and an in-depth explanation on how we get paid. Our over 15 years of experience in financial markets and high technical knowledge aid in precise and timely identifications. Our independence from brokers and the companies we introduce, our commitment to maximum transparency, and our extensive experience in financial markets contribute to our ranking criteria. These recognitions span over a decade, reflecting FXCM’s sustained presence in the industry and its capabilities across platform technology, market analysis, and customer support. You can also utilize a demo account to practice using $20,000 to $50,000 virtual fundswith 24/5 access to live market data. Yes, FXCM is a regulated broker in the UK, Europe, Australia, and South Africa, adhering to strict standards.
What are the trading materials I can trade on the FXCM site?
The Investment Industry Regulatory Organization of Canada (IIROC) provides oversight of this broker, and Friedberg Direct has a clean track record. The Canadian Investor Protection Fund (CIPF) offers an additional safety net in the unlikely event of default by this well-capitalized broker with solid ownership. The CIPF protects assets up to C$3 million, if investors distribute them accordingly, via three C$1 million account options; it is by far the best protection available globally. Friedberg Direct fully segregates clients’ deposits from corporate funds and maintains a safe and secure trading environment.
IC Markets Global
These insights and summaries can be accessed through the FXCM website, trading platforms, or through specialized research tools provided by FXCM. The simulator also offers features like customizable trade sizes, various order types, and real-time charting tools to enhance the trading experience. We have evaluated more than 400 forex brokers and FXCM scores well when it comes to trading fees. These are the 5 key tools that the broker and trading platforms have in place to assist you in terms of risk management. Effective risk management plays a very important role in trading with any broker. Through FXCM and their trading platforms you will be able to set a number of tools in motion to help you stay protected when you are trading.
Overall, if you are into spread betting then FXCM could be a good value starting point with a low spread and accessible minimum deposit. FXCM spread betting is made available where regulation permits, to UK and Ireland based traders. This spread as standard is pretty high but a good range of pairs are offered along with the unique forex baskets where you will also find a USD, and emerging markets basket alongside the Yen basket. The InvestinGoal team has gone in-depth on FXCM to provide the clearest possible insight on all key areas of the broker including security, costs, account types, and more.
Conclusion – What are FXCM’s Strengths and Weaknesses? 💭
We found FXCM’s fee structure to be very competitive, especially with an average EUR/USD spread of 0.74, which is below the industry standard of 1.08. Combined with VIP discounts for active traders, FXCM proves to be a cost-effective option. If you are unable to effectively take advantage of these active trader discounts, however, you’ll find pricing to be overall higher than average. However, success in forex trading depends on various factors such as market conditions, trading strategies, risk management, and individual trading skills.
Profitability ultimately depends on the trader’s abilities and the wider market environment. These regulations provide certain protections for traders, including negative balance protection and segregated accounts, and ensure compliance with industry standards. I was especially happy to see that it is offered without any time limit or other restrictions, meaning that you can continue to use it as a strategy testing tool long after you register with FXCM.
Trading Station mobile offers a richer trading experience than MT 4 overall but has a couple of drawbacks. There are no push notifications and real-time alerts on the Android version, which are available on most other great mobile trading apps. FXCM generally offers commission-free CFD trading, with spreads starting at 0.2 pips on major pairs. Despite that, the broker’s $50 inactivity fee, $40 commission on bank withdrawals, and history of bankruptcy are important facts traders must consider about this broker. FXCM provides competitive spreads across its range of currency pairs and CFD instruments, aiming to keep trading costs low for various market participants.
Trading with Indices allows you to reduce the risk of your exposure when trading volatile instruments. FXCM has a trust score of 78, from its regulation, reputation, and reviews. Traders must withdraw 100% of their initial deposit via a credit/debit card before requesting a wire transfer for any balance left in the account. Friedberg Direct only allows bank wires and credit/debit cards as payment options.