On December 11, 2017, Global Brokerage filed for bankruptcy protection in Branch 11 in New York court. The desktop platform is available in a total of 16 different languages and appears highly customizable. Although rudimentary in its visual appearance, the platform is streamlined to perform the most important functions of trading expediently. Visit and select “Open account” from the menu at the top of the page. It has since expanded its operations to multiple countries, including the U.K., Australia, France, Germany, Italy, Greece, and South Africa. FXCM follows all Anti-Money Laundering rules and regulations, ensuring that all withdrawals are returned to the deposit source.
- Here, the commission rate is $25 per million and there are also other smaller discounts for Active Trader account users.
- The apps are mainly automated strategies, indicators and add-ons.
- It enables you to get used to trading platforms, test out various strategies, and experience broker’s policies without risking real money.
- One of the key features of Marketplace is the ability to open and manage all your trades directly from the charts.
The FXCM review shows that the group has no involvement in filing for bankruptcy, and the restructuring of GLBR will not affect its clients following the registration documents. The order window offers both simple and advanced options, such as one order triggering or canceling another. In the case of a corporate account, the minimum required deposit is $10,000.
FXCM Customers Protection
FXCM does not charge deposit or account fees, but high withdrawal fees are charged for certain payment methods, and an inactivity fee is charged after a period of inactivity. After 12 months of inactivity, an inactivity fee of 50 USD is charged on the account balance. The account will be closed when the account balance becomes zero. All in all, FXCM doesn’t get a good rating when it comes to the range of investment types.
FXCM’s educational resources cover a variety of topics, such as trading guides, video tutorials, and a section on the traits of successful traders. In the review of FXCM’s trading costs and swap fees, it was found that they are higher than those at some other brokerages. The company is regulated by the aforementioned tier-1 regulators and is considered a low-risk broker.
Users can contact customer support via email, live chat, and phone. There are plenty of available platforms at FXCM such as Seer Trading Platform. Seer is made for building, optimizing, back-testing, and deploying automated trading solutions. The addition of this platform is a great boon for tech-savvy traders with an interest in algorithmic trading.
FXCM has a history of fraudulent business practices that lasted from 2009 to 2014. Namely, the company offered its users a no dealing desk platform and gave them misleading information that damaged their trades. The list includes the S&P 500 (US500), US30, Fra40, Ger30, JPN225 and more.
Instruments Traded
Whether you’re a beginner or an experienced trader, FXCM offers a range of educational resources to help you improve your trading skills and knowledge. They also provide access to social trading platforms, such as ZuluTrade and Mirror Trader, allowing you to follow and copy the trades of successful traders. FXCM is well-known for its innovative trading technology, providing clients with access to advanced trading platforms, such as Trading Station, NinjaTrader, and MetaTrader 4. They also offer a range of account types to suit different trading styles and preferences, including mini accounts with low minimum deposits.
Traders can also access FXCM Plus, a platform equipped with trading tools and indicators to improve how you trade. FXCM offers a variety of financial instruments, including Forex, share CFDs, commodities, cryptocurrencies, and indices. FXCM does not make public the average spread or its bid/asked spreads for individual currency pairs, which is not customary for the industry. However, users can only trade a limited selection of forex and CFDs, and the mobile and desktop platforms are lacking in usability when compared to the competition. Spread pricing data is available on the spreads cost page on their website.
Swap Fees
Regular texts to check everything is ok, swift, professional support and service. ForexBrokers.com also recognized brokers that demonstrated excellence and innovation with our exclusive Industry Awards. Yes, based on your detected country of NL, you can open an account with this broker. The 1st tier ranges from $10 to $25 million traded per month and pays $5 per million, while the 5th tier pays $25 per million if you traded a minimum notional amount of $300 million per month. It is worth noting that FXCM MT4 and other features are not the only great things about the company. The FXCM Group has many entities in other major jurisdictions, including regulated entities in the United Kingdom, Australia, and indirectly affiliated offices in Canada, South Africa, and Japan.
Bonus Offer for Forextraders Visitors
In case you’re planning to solely trade Forex pairs MetaTrader 4 will be the perfect pick for you. As the platform is simple, yet very powerful and is designed around Forex trading. There is no minimum balance required to open an account and funds can be deposited using a range of reputable payment methods. FXCM offer a variety of accounts so that clients can choose a best fit. To deposit funds on FXCM, log in to your account via /fxma/login, then click on Funds and select Deposit Funds.
FXCM Standard Account Spreads And Costs
FXCM is the trading name of Forex Capital Markets, a company owned by Leucadia Investments/Jefferies Financial Group. FXCM charges an inactivity fee of $50 after 12 consecutive months of account dormancy. If you plan on taking fxcm broker review a break from trading and would rather avoid this charge, then you might want to take a look at Swissquote instead. Forex Capital Markets Limited (“FXCM LTD”) is the brand name of the FXCM group of companies or FXCM Group.
FXCM take care of the “little” traders as well as the Professional. Their Micro Account is amazing and allows clients with smaller banks to test and tweak their strategy on low stakes. I have tried other Forex companies but will now only trade with FXCM. I find their trading platform easy to use and have never had a bad experience.