FXCM

What is FXCM

If we want to know about FXCM from a bird’s-eye view, then we should consider some basic but important aspects. And one of the major pieces of information about FXCM is the broker originated in 1999 and has its headquarters in London, UK.

To stand straight as a prestigious and trustworthy brokerage firm, FXCM is regulated by FCA, ASIC even FSCA.

Having been regulated by the top regulatory bodies denotes the fact that our money and investments are safe under FXCM. Because the broker stores its clients’ funds in a segregated account so that no hamper or stealing takes place.

With FXCM a trader can trade Forex, CFD, or commodities with the flexibility to choose to trade platform which meets his needs the best.

Awards- FXCM is no doubt a prolific broker, and that is the reason the broker has driven several prestigious awards. Some of the awards achieved by FXCM are- “Best Trading Tools And Research 2020”, “Best Online Trading App 2020”, “Best Forex Trading Platform 2020”, “Best Forex Trading Platform 2020”, “Best Education 2020”

Top eye-catchy features of FXCM

Although most of us already heard about the broadness of FXCM still here’s a quick chart to help you out in terms of considering the service of the broker-

Is FXCM Safe?

Overall, FXCM broker is considered a trustworthy and safe broker with a trust score of 96 out of 99. The broker is having the strongest tier-1 regulation. Whereas, tire 2 and tire 3 regulators indicate average and low trust.

Is FXCM Regulated?

FXCM Group is regulated under several jurisdictions and the broker has strong regulations.

•  For the Australia region, FXCM has regulation under ASIC ( Australian Securities and Investments Commission) with a license number 309763
• FXCM France is under the control of FCA and subjected to ACPR and AMF
• FXCM UK has regulation under Financial Conduct Authority (FCA), registration number 217689
• FXCM South Africa has regulation under the Financial Sector Conduct Authority (FSCA) under FSP no 46534

Trading instruments

Trading Platform- 

How to get started with the trading platforms?

 A trader can easily get started with any of the platforms of FXCM within a few minutes. And the steps leading to access to the platform only take a few easy steps.

All you need to do is – 1. Open an account with the FXCM platform. Top up your account with the money asked by the platform’s system. In terms of trading view pro, you need to deposit $300 and trade a minimum 500,000 trading volume to be able to open your platform access.

2. later submit Limited Trading Authorisation (LTA) and for TRADINGVIEW PRO account email to info@fxcmmarkets.com with the subject line FREETRADINGVIEWPRO. With the email attach your username and FXCM account number.

3.  After LTA submission or the request email FXCM team will contact you for further instructions.

Why one should trade with FXCM?

1.  Diversity in trading materials

Fxcm has enough trading materials to excite its traders. Starting from Forex currency pairs to shares, indices, and commodities including cryptocurrencies are open for any trader to execute the trade.

• Trading platform

We will have the access to activate any account types offered by FXCM. When a trader registers under an FXCM broker he explores different modern and exciting trading platforms.

Along with the most popular MT4 for desktop, mobile, or web the broker has given choices to select high-tech platforms like ZuluTrade and NinjaTrader.

If you are looking for copy trading then activate the ZuluTrade platform. And in case you want to trade with an automated trading strategy then NinjaTrader has got you covered.

•  Speedy customer service

Being a highly reputed broker FXCM has always monitored closely its consumers’ troubles or issues.

A customer can get customer service in a very neat and clean system 24/7.

To reach out to every customer from its operated areas FXCM has set up a strong network. No matter where are you from or whatever is your native language, you may get your questions answered in your local tongue.

FXCM has local numbers from its operating regions and they are operated by the local representative of the broker so that every trader can take customer service effectively.

•  Low commissions & Forex Spread

FXCM account options have minimal commissions and the spread starts from 1.3 pips. The most popular standard accounts have very low commissions.

The minimum deposit amount to start trading is only $50. But at the same time, the EU accounts require $300 to open trade.

One more interesting fact about FXCM is, that active or regular traders get more facilities in terms of spreads and commission. Active traders pay lower commissions than others ($25/$1 million trade)

•  Plugins & Extensions

FXCM broker knows how to satisfy its new generation trader. Today a customer not only wants to deposit funds with a regulated broker but also wants to explore and experience all the brand-new modern plugins and tools.

In this term, FXCM has added new indicators, reporting and charting tools, visual Traders Studio, Expert Advisors, CFD Auto Roll, Pivots Panel, and Track ‘N Trade. 

Account opening process of FXCM

Opening an account with FXCM is fun and so easy. Just go to the FXCM.COM website and over there you are given two options- 1. Open an account & 2. Open a free demo account.

Now you can check your trading handing hand by practicing trading in a demo account with 0 investment.

Or if you are confident about your trading skills then you can directly open a real account. To open an account click on the ‘open an account button and fill out your country of residence, email address, account type, and platform type. Also, create your username and password.

To proceed further FXCM system will ask you to upload your photo id for identity verification.

After the successful identity verification FXCM server will ask you to confirm your First name, Middle name, Surname, date of birth, and gender.

Later, fill in your contact information and address details. Once FXCM confirms your address proof, you will be redirected to MYFXCM (Personal area) and start trading. 

Deposit and withdrawal methods of FXCM?

A client of FXCM can deposit and withdraw money using all the popular payment methods. Payment methods of FXCM are:

1. Credit or Debit card
2. Wire transfer
3. E-wallets- Skrill, NETELLER, Unionpay
4. Local bank transfer (Philippines, Malaysia, Latam, and Indonesia
5. Online Bank transfers   

How to withdraw funds from an FXCM account?

 FXCM broker is worthy of high appreciation for its quite easy and fast withdrawal process. To withdraw the account balance you need to open the MYFXCM page and look for the ‘Withdrawal funds’ option.

Then to get started right away, select your desired withdrawal method, and the amount to withdraw, and click ‘submit’. Instantly, Your withdrawal request will be sent successfully and now you need to have some patience until the balance is debited to your wallet.

On average, we can count the withdrawal processing time from 1 business day to a business cycle (30 days).

And don’t be upset because depending on which payment method you are using the money transfer time may change.

Credit/debit card transfer- 3-5 business days

Domestic bank wire transfer- 1-2 business days

FXCM wallet will allow you to gauge your withdrawal progress by running the live report.

A withdrawal fee of FXCM-

To withdraw a deposit from an FXCM broker we need to consider a little amount of fee under some conditions. If you withdraw using the domestic bank transfer then the per withdrawal request charge is $25.

In the case of the international bank withdrawal method, $40 is the per withdrawal transaction fee.

And happily announcing, no withdrawal fee is applicable for credit/debit cards even electronic wallet withdrawals.

FXCM minimum deposit

FXCM doesn’t impose any hard and fast rules in terms of its minimum deposit amount. On a general basis, the minimum deposit for an individual account is only $50.

If you are interested in opening a corporate account Trust or IRA then the minimum amount is 50,000.00 CCY (currency).

Whereas there’s no minimum deposit amount attached if you deposit via Wise transfer.  A trader depositing via card regularly may start trading only with $50.

But if you are an EU account holder/ EU citizen, to start trading you just need to top up your account with $300. And the relaxing thing is your deposit will not be affected by additional charges or Taxes.

Promotion program of FXCM

FXCM broker offers bonuses in the form of either Rebates or Special offers. If you open an account you will get a $25 welcome bonus.

A trader will get a deposit bonus of up to $300 and to avail of the bonus, all you need to do is to open an account and deposit at least $50.

Instantly $300 will be added to your trading account so that you can start trading with a bigger note! 

There is also the reload bonus or regular trading bonus. For instance-

From $50 to $999, the bonus is $25

$1000 to $2499 bonus is $100

$2500 to $4999 bonus is $200

 The $5000 bonus is $300

Apart from the welcome or reload bonuses FXCM arranges trading contests and it has also included the family and friend referral bonus program.

That means you can become an affiliate partner of FXCM and share your referral link with family and friends. And whenever a trader will open an account using your referral link and execute a trade you will get paid by the platform automatically.

Moreover, if you meet a certain volume (min $10 million) of trade in a month, set by FXCM you will get cashback.

FXCM research

After having a close overview of the “research section” of FXCM we must admit that FXCM offers one of the most advanced Market Research among brokers online. So, what highlighting research tools are facilitated on the FXCM platform?

Economic calendar- You can get all the market-moving events and keep live track of key economic actions, reports, or announcements.

Market News- Top daily market news on FX, Metals, Commodities, and the headlines on multiple markets, fundamental trader ideals. 

Technical Analysis

• Market Scanner

Scanning FX, and CFDs; scanning signals, and picking the top indicators

• Charting

Go to the tool on charts and indicators for the technical trader

• Data signals

Volume, market sentiments, and price data signals.

FXCM Plus – including resources for every experience level trader it offers an advanced technical analyzer, trading signals, and exclusive tools.

FXCM Education

There’s no denying that to trade successfully a trader needs to gain adequate knowledge of trading and its functionalities.

To make you educated in Forex and Crypto trading, the FXCM website publishes the –

• Daily live webinars, on-demand video tutorials, and educational services
• Details on FXCM products and an explanation of why FXCM leads on the market
• Platform designed to suit different levels of traders
• An in-depth guide on the trading strategy, instrument guidelines
• Articles on how to become a successful trader, what is forex and how to invest, and what are the trading habits of a market-winning trader
• Market updates- DAX Open, US Open, The Crypto Minute

Customer service

FXCM has dedicated itself as a trader-driven broker and ‘client’s priority’ stands as its business virtue. Not only FXCM is upgrading its client-oriented services but also over the years it has achieved tremendous prestigious awards for its dedicated customer service.

It doesn’t matter if you are a newbie or an expert investor, FXCM cares equally for every client. For 20 years FXCM has delivered unquestionable customer care services 24/5 and has received several regional as well as international awards.

Some of the awards for providing the best TRADING serviceS are- WINNER ONLINE PERSONAL WEALTH, INVESTMENT TRENDS, FXCM BEST CUSTOMER SUPPORT 2018, SHARES AWARDS 2021 (WINNER BEST FOREX TRADING PLATFORM), ADVFN INTERNATIONAL FINANCIAL AWARDS|WINNER 2022|BEST ZERO COMMISSION BROKER, INC 500.

A client can easily contact with FXCM broker through any of the systems below-

WhatsApp, email, live web chat, trading desk, physical international offices, and international free customer service phone numbers.

Final Thoughts on FXCM review

FXCM broker is a perfect friend/platform for both a new trader and an expert. Since the minimum deposit is so budget-friendly for even an 18+ trader, most of the new traders are interested to trade in a standard account.

Whereas other renowned brokerage platforms are asking for comparatively higher deposits to trade in standard accounts, FXCM is fully flexible in this term.

With only $50 you can start trading and gain a large profit. If a new trader opens an account on the ZuluTrade platform, he can opt for copy trading by selecting any expert market strategist.

On the other hand, fast and expert traders may take the experience of an extremely volatile market by choosing the NinjaTrader platform.

And lastly, advanced and modern designed trading tools are the center of attraction for many passionate traders.

And what can be further better if a high-class broker can also secure your money and personal information? Yes, FXCM has powerful registration and ensures a trader’s asset security.

FXCM Review FAQ