FXCM


Overall Score   How is this Calculated?

9.3

Ranks #4 of 29
In Reviews > FXCM


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Details:

  • Min. Deposit: $2000
  • Max. Leverage: 50:1
  • First Deposit Bonus:
  • Min. Lot Size: 0.01
  • Regulation: FCM, CFTC, RFED, NFA, FSA, SFC, ASIC, FSA/ACP, CONSOB

  RATING

Ease of Access:
9.1
Reliability:
9.6
Support:
9.5
Payouts pct.:
9.2

  AWARDS

FXCM Review – A Reliable and Capable Rich Choice of Broker


With many brokers based in Cyprus or elsewhere in the world, it can often feel a little uneasy investing money with companies that are based halfway across the globe. And that's if the companies will even take you – stringent laws are meaning that more and more European brokers are refusing to do business with US customers at all.

 

For these reasons, it will be comforting for many to choose a broker based a little closer to home. FXCM is one such choice and is based right in New York. In fact, it is one of the largest New York dealers of all and is even listed on the NYSE. This means you can trade with absolute assurance that you have accountability and that they will be a reliable and trustworthy broker. It's this kind of reliability that you should always look for when you're trading.

 

In the rest of this FXCM review, we will look at the specific features offered by the company and at what makes them one of the best choices available for traders right now.

 

The Platform

 

FXCM supports a number of different platforms. These include FXCM Active Trader, Trading Station Gateway, Trading Station 2, Mobile Trading Station 2 and MetaTrader 4. Between these various options you have a huge amount of variety to choose a platform that suits your particular needs and this is already another big advantage for FXCM.

 

MetaTrader 4 is one of the best known trading platforms and is an industry standard. Any experienced trader will be highly familiar with this platform and thus should find it a great bonus not to have to learn to use an entirely new system. Part of the reason for MT4's success is that it offers such a wide variety of useful features and the best reliability and stability. If you're looking for the best rated platform, the MT4 is it.

 

At the same time though, by supporting so many other platforms too, FXCM provides you with a host of other options and potential features that will benefit specific traders. One of the most notable of these is the ability to trade on mobile devices using Mobile Trading Station 2 or the mobile versions of MT4. This way you can trade anywhere you are in the world as long as you have a smartphone that's connected to the internet. Trading Station 2 is also a very well-known and reliable platform, while the fact that you also have browser-based platforms ensures that people who don't want to go through the hassle of setting up new software on their computer can begin trading right away with the minimum hassle.

 

As always, versatility and variety is a huge advantage for any broker and FXCM offer it in spades.

 

Commissions and Spreads

 

FXCM uses floating spreads and well known for their tightness. The spreads go as low as one pip for liquid trading pairs like EUR/USD, USD/CHF and USD/JPY. There are no commissions either which helps to keep things maximally profitable for you as the trader.

 

The lowest investment is $50. This isn't as low as a select few that offer $1 or $5 initial deposits but it's a very low number that anyone can feel comfortable getting started with.

 

Reliability and Security

 

FXCM has a reputation for being one of the very most reliable and secure dealers anywhere in the world. This is partly owing to their large size and the fact that they're based right in the US. They have flawlessly efficient trade execution and have executed millions of trades over the years. All transactions are completely secure and encrypted and in general they ensure that you can trade with the utmost peace of mind knowing that your money and your private details are safe.

 

Deposits and Withdrawals

 

FXCM keep the deposit and withdrawal service as simple and straightforward as possible. They accept payments via a wide variety of means including paper checks, ACH deposits and debit or credit cards. Withdrawals can be done in reverse.

 

Most importantly though, FXCM ensure that you always have easy access to your money when you need it. This means that when you want to take money out of your account and have it in your bank so that you can start spending it, they will let you do that whenever you want to and with no issues. You can transfer money quickly and this way you're never in any doubt that that money is yours and there when you need it.

 

Customer Service

 

Alongside reliability and security, one of the most important things to look for when choosing a trader is good customer service. If you're using a broker then it's critical that you feel secure in the knowledge that you can contact them whenever you have any questions or you need help. They allow you to get in touch through a variety of different means with a chat feature, phone service, fax, e-mail and trading desk phone number. All of these services are toll free and available globally for any customers. They respond quickly to queries and always seem happy to help with useful advice and knowledgeable suggestions. Of course it helps in many cases too that the company is based out of New York.

 

Conclusion

 

Ultimately, FXCM is one of the very best choices if you're looking for a reliable broker that you know you can rely on and trust. They are not only regulated but also listed on the NYSE and the fact that they're based in the US is something that will give many customers a lot of assurance. The cost of execution is very small and they offer a wide range of trading platforms meaning that traders can use the system that best suits their particular needs.

 

With many brokers no longer accepting US customers at all, it is very reassuring to know that you'll be able to use one that is actually based in the US. That way you know it won't close its doors on you any time soon!

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