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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. They have an abundance of robust trading tools to assist you with analysing the markets in great detail to discover potential trade opportunities. There is a plethora of market research and insights from the experts which can help you to make informed decisions. So, whether you’re new to online trading or you’re an experienced investor, FXCM has customisable account types and services for all levels of retail and institutional traders. FXCM offers clients the ability to trade the foreign exchange markets as well as CFDs on various markets. This broker is very popular among traders as it offers a range of top trading platforms, trading tools, and extremely competitive trading costs and spreads.
I prefer the desktop platform as it has the most functionality and supports automated trading. I think MT4 is an excellent choice of platform for anyone who wants to develop their own trading strategies for both manual and automated trading. It is very easy to use with a fully customisable user interface that makes trading online a breeze. Keep in mind, when you trade on FXCM’s MT4 platform, the execution, trading features, and settings may vary from that of the flagship Trading Station platform.
ZuluTrade is one of the top social trading platforms, but not quite on par with the industry leading eToro. Clients that are interested are sent to the ZuluTrade portal, where they may select from a variety of signal sources and automatically duplicate their trades. Just keep in mind that there is no guarantee on how good or bad these signals will perform.
I am pleased to see that FXCM is regulated in multiple jurisdictions which means that I wouldn’t have any problems using them for my day trading activities. FXCM has offices, partners, and affiliates in the major financial centres of the world, uniquely positioning FXCM to provide exceptional service to traders around the world. It is imperative to be aware that the products and protection can vary depending on the entity that you sign up with. Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money. You should engage in any such activity only if you are fully aware of the relevant risks.
ClickTrades Review
It is unfortunate there is not a wider choice of Forex currency pairs as the infrastructure implemented by FXCM provides excellent trading conditions. They are determined by the funds available in the traders’ accounts and the regulations that particular nationalities or accounts may fall under. The FXCM Group provides professional customer support services to clients regardless of their location through a global network of offices in Germany, Australia, France, https://forexbroker-listing.com/ and Italy, among other countries. FXCM is one of the first companies to offer online trading, including foreign currency or Currency exchange trading, stocks, CFDs, commodities, and indices. 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.
Once you are ready to start trading the live markets, you are required to make a deposit. As we mentioned previously, FXCM maintains a minimum fxcm canada review deposit requirement of £300 for UK investors. This can be done directly from the mobile app as well as from the MyFXCM client portal.
These allow you to speculate on the performance of a certain sector that contains a number of individual stocks. By holding a basket of stocks, you can reduce your exposure to one individual stock and diversify your portfolio. Active for more than 20 years as a broker, FXCM is very much in the category of highly trusted brokers you can choose from. This comes not only from the length of time and longstanding reputation they have built but also from other areas such as the accolades they have won throughout this time.
I like how the broker offers free MT4 EAs and apps that can automate part or all of your strategy, saving you crucial time in technical analysis. FXCM maintains an excellent choice of trading platforms with a distinct focus on algorithmic trading. Besides MT4, traders may use the proprietary Trading Station or Ninja Trader.
Company survived after swiss franc super extreme volatility last year caused by unexpected policy of Swiss National Bank. The number of FX brokers reported huge losses and bankruptcies but not this one. In case when you have profitable strategy and generate positive returns, this broker is number one I would recommend. If you want to get started trading at FXCM, we’ll walk you through the process of signing up for a trading account, installing the app, and placing your first order. FXCM then is an ideal broker choice at any step of your trading journey and the sheer size of this industry leader makes them huge accessible for you to start trading from almost anywhere in the world.
How to Start Trading with FXCM
REST API is a web-based API using a Websocket connection that was developed with algorithmic trading in mind. Developers and investors can create custom trading applications, integrate into the platform, back test strategies and build robot trading. Calls can be made in any language that supports a standard HTTP. FXCM does not provide services to residents of USA, Ukraine, Turkey, Russia, Iran and some other countries. You can find the latest up to date list on the brokers website. If you find that they cannot accept clients from your country for whatever reason, please feel free to peruse our broker reviews for an alternative option.
FXCM’s Active Trader account, geared toward high-volume investors, offers an intriguing possibility. Because you are an Active Trader, you can make use of premium services and customized solutions, in addition to receiving decreased spread fees based on the volume of trades you make. The broker’s intuitive and easy-to-navigate website provides all the information you’ll need to open an account and begin trading in several markets. You can also open a demo account to test the broker’s services and platforms before committing any funds. The broker’s proprietary Trading Station platform is available for iPhone and Android mobile devices.
Forex Risk Disclaimer
Fees, minimum deposit requirements, withdrawal, account opening, research tools and more. We use over 50,000 data points and a consistent, fact-based methodology. FXCM provides a respectable variety of market research from a combination of in-house content and third-party materials. Overall, FXCM’s research is a touch above the industry average and will satisfy most forex traders, though it’s not as rich or diverse as what’s offered by the best brokers in this category. With the TradeStation, you get access to financial news, education and research material, analytics, and professional charting.
- In this FXCM review, we will discuss some of its amazing features.
- On top of that, FXCM provides high-quality educational and research resources.
- The Speculative Sentiment Index is a patented contrarian indicator that is meant to assist you in trading trending markets.
- Here you also have easy access to the latest news, research, and analysis all from within the trading platform.
On the negative side, FXCM provides only CFDs , thus popular asset classes like real stocks or ETFs are missing. Lastly, the trading platforms don’t offer safer two-step authentication. With its wide range of available platforms and deep offering of trading tools, FXCM has set the bar high and competes among the best brokers in the industry. Whether you are a beginner or an advanced algorithmic trader, FXCM has plenty of options, and as a result FXCM finished Best in Class, Platforms and Tools in our 2022 Review. Whether you are a beginner or an advanced algorithmic trader, FXCM has plenty of options. FXCM is a reputable broker that has been on the market since 1999.
What are the margin requirements at FXCM?
The awards are in several areas which include platform, customer support and market analysis. They are a global trading broker with offices in London, Johannesburg, Hong Kong, Athens, Paris, Sydney, Berlin and Milan. The brand also has affiliate offices in Toronto and Tel Aviv, Israel. In terms of fees and commission, both brokers offer commission-free trading and highly competitive spreads, though eToro offers slightly higher spreads than FXCM. Nevertheless, the eToro mobile trading app is one of the most used apps by traders as it provides the same features that are available on the web desktop platform. FXCM also offers tight spreads, for example, the typical spread for the EUR/USD pair is 1.3 pips.
These are not the lowest spreads that you will find but that is because the commission is included as a spread mark-up. However, you can get spreads from just 0.0 pips on the raw spread account but that does incur a very competitive $5 round trip commission fee on top. Overall, I think it is fair to say that the costs are quite low, although you can get $4 per round trip and 0.0 pip spreads from FXTRADING.com.
FXCM Platform
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly. After having completed the application you will be given your login credentials. The quickest method to use when depositing funds to your account is with a credit card or debit card. The companies that make up the FXCM Group are regulated by multiple jurisdictions. 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. On the flip side, two-factor authentication is not available with FXCM.
The index ratio indicates whether traders are net-long or net short a certain currency pair and to what extent. The Trading Station Mobile platform enables retail traders to access the FX market fast and simply. Trades can be placed and maintained on the move because of their simple, user-friendly interface, which was built from the bottom up to work flawlessly on mobile devices. FXCM offer many different platforms to suit your trading needs, including the popular MetaTrader 4 platform and their very own proprietary Trading Station.
For example, in Australia, client funds are held in Citibank, Australia; which is an established international bank. For the European clients, their funds are further protected by the insurance provided by the ‘Financial Services Compensation Scheme’ . If in the future FXCM goes bankrupt, the FSCS can pay compensations to eligible clients. FXCM has implemented a Secured Socket Layer on all its websites and platforms. The SSL encryption protects data transmission between the clients’ workstations and FXCM’s servers so that hackers are kept out of the loop. This is very important because identity thieves and internet fraudsters might attempt to steal important user info such as credit card details, verification documents and users’ accounts.
There are plenty of order types to choose from on the FXCM platform such as market orders, limit orders as well as some order time limits like GTD and IOC. FXCM users can buy and sell 40 different currency pairs including majors, minors, and exotics. These include AUD/CAD, EUR/JPY, GBP/JPY, USD/JPY, EUR/USD, USD/TRY, just to name a few.
