These currency indices provide a more objective view of a currency’s performance by tracking it against a set of relevant currencies, such as those of key trading partners. These are good options if you want to reduce your risk exposure to a single currency. FXCM trails many brokers when it comes to the breadth of forex pairs, with around 40 assets available. This is significantly less than the 80+ at Forex.com or 300+ at CMC Markets.
It allows traders to execute trades, access a variety of charting tools, use technical indicators, and implement automated trading strategies. The web-based MT4 provides convenience by enabling access from any device with an internet connection, making it a popular choice for traders who prefer flexibility. The Active Trader Account is available on the Trading Station platform and provides advanced charting tools, faster execution, and premium support services for active traders. The account has a minimum notional volume requirement of $10 million monthly. Our experts find FXCM a good reliable broker with lots of benefits and appealing conditions. The broker has a worldwide reputation for offering an extensive range of trading conditions.
FXCM withdrawal methods
By providing access to a range of global indices through CFDs, FXCM enables traders to diversify their investment strategies and take advantage of the dynamic movements in global markets. FXCM offers access to a wide array of financial instruments, catering to the diverse needs of traders. This comprehensive range includes forex pairs, indices, commodities, stocks, and cryptocurrencies. Such variety enables traders to diversify their portfolios and capitalize on different market opportunities. Specifically, FXCM provides the ability to trade over 40 forex pairs, encompassing major, minor, and exotic currencies.
Brokers Guides
Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018. Yes, FXCM allows hedging, enabling traders to open multiple positions in different directions on the same instrument. International phone numbers deserve special mention, although call charges may apply. Overall, clients have the option to choose a convenient method of communication for themselves.
Conclusion of the review: FXCM is a professional online broker
A news feed below the chart adds fundamental analysis to the mix, making this a great all-in-one platform that beginners should find easy to pick up. The addition of preloaded technical indicators and automated trading strategies means that more experienced traders will also find a lot of value in this platform. It offers the full suite of assets with micro-lot trading, leverage in line with regulatory requirements, plus the broker’s four trading platforms.
- Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
- This program is a significant advantage for active traders, and if you trade in large volumes, it can be pretty beneficial.
- With licenses from four top-tier authorities, you can also rest assured that it is trustworthy and responsible.
- This option makes FXCM an attractive choice for traders who follow the principles of Islamic banking.
- 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.
FXCM Desktop MetaTrader 5 Platform
We can recommend FXCM highly to any new trader or traders who want to change their online broker. NinjaTrader is a professional trading platform for any type of assets like futures, stocks, options, forex, and more. You get access through real-time pricing and a large network of liquidity providers. From our experience, this software is the best for scalping and exact execution of trades.
It offers competitive trading fees, a wide range of financial instruments, multiple trading platforms, fast execution speeds, and high-quality educational resources. FXCM offers traders a few different accounts, with forex and CFD instruments (commodities, crypto and more), leverage, and a truly impressive variety of plugins and accompanying applications. With reasonable trading fees and conditions plus an industry-best level of flexibility for traders, FXCM is an enticing option for frequent traders with virtually any strategy preference. On the one hand, the company offers competitive spreads and below-market swaps, which are favorable for long-term trading. On the other hand, there is an inactivity fee for dormant accounts and a withdrawal fee for bank transfers, which can significantly increase a trader’s expenses.
While not a deal breaker, there is an inactivity fee charged to dormant accounts after 12 months of inactivity. The fee is up to 50 units of the currency your account is denominated in or the balance of your account, depending on which is less. Traders should review the broker’s guidelines to confirm the availability of their preferred payment method in their region. This ensures compliance with regulatory requirements and facilitates a smooth funding experience.
– The Forex Broker offers currencies, commodities, indices, metals, and cryptocurrencies to trade. It provides high-quality educational resources, unrestricted demo accounts, and user-friendly platforms to help beginners learn and improve their trading skills. Capitalise.ai also supports traders in developing algorithmic strategies with no coding skills.
These insights and summaries can be accessed through the FXCM website, trading platforms, or through specialized research tools provided by FXCM. Overall, FXCM is a well-rounded broker that provides a reliable trading environment. However, traders looking for a wider selection of assets and the lowest fees may want to consider other brokers as well. Opening a live account with the broker is a straightforward process that enables traders to access various financial instruments. Once submitted, FXCM will set up your demo account, giving you access to the MyFXCM area with virtual funds to practice trading in a risk-free environment.
- The default execution is DD (Dealing Desk), so arbitrage strategies are prohibited.
- FXCM places a high emphasis on trust and safety, demonstrated by its regulatory oversight.
- Clients are advised to carefully review the full T&Cs before engaging with the platform to understand their rights and obligations.
- Traders can access FXCM on the go using either the mobile-optimized version of the proprietary Trading Station platform or the reliable MT4 application.
- 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.
- For traders who appreciate advanced trading tools and quality market research, FXCM is a winner – especially for algorithmic trading.
Whilst not as fast as some forex brokers we have tested, these are similar to most competitors. There is also a rebate program that allows cash rebates depending on the volume you trade, which is a perk for active traders. Overall, I find their educational tools to be very useful, and I appreciate the chance to access them with a few clicks on the broker’s website. To open a demo account with FXCM, you simply need to visit the broker’s official website and complete a registration process. After selecting the “Demo Account” option, you will be prompted to provide basic details such as your name, email address, country of residence, and preferred password.
NinjaTrader offers a simulation account that you can access through the client portal after signing up. It’s a great way to explore the platform and practice trading without risking any real money. With the demo account, you can switch between the mobile, web and even desktop platform where the full range of advanced features are found. Most notably, in March 2025, Kraken (one of the world’s largest cryptocurrency exchanges with over 15 million customers) announced a $1.5 billion acquisition of NinjaTrader.
Please note that the information on our website is for informational purposes only. When it comes to MetaTrader 4, you get pretty much the same features that you have with Trading Station. On top of that, you can also use the Virtual Private Server (VPS) and can use scalping strategies too. You can also enjoy stop-loss/take-profit orders and the ability to partially close positions. No, FXCM does not accept clients from the United States due to fxcm broker review regulatory restrictions. Before you proceed with opening an account or placing any order, please ensure that you have thoroughly read and understood all the legal documents provided by FXCM.