FXCM Reviews and Ratings:
Forex Capital Markets or FXCM is based in New York and has been around since 1999, but it was banned from US markets after a misrepresentation charge and parent company Global Brokerage, Inc. has filed for bankruptcy in 2017. At the moment, the brokers have successfully exited bankruptcy and are regulated by the UK FCA and the ASIC in Australia. The company has offices around the world, with offices in Italy, France, Australia and the UK. Traders enjoy no dealing desk option and trade with rates provided by banks, making low variable spreads possible.
Account: Standard 5K account for experienced traders who want to make the most of FXCM’s trading tools. Typical Standard Account spreads are 0.5 pips for the EUR/USD pair. Active Trader accounts available with minimum deposit $25,000, for special services. Clients can open a mini account with a $50 deposit. The broker also offers two demo accounts limited to 30-day periods. The standard demo account has a $50,000 credit and th mini demo account has a $2000 credit for practice. All platforms for real are available for use on the demo accounts.
Minimum deposit: Starting $50 for mini accounts up to $25,000 for Active Trader accounts.
Maximum leverage: 1:200 leverage
Features: FXCM offers a proprietary trading platform Trading Station with a user-friendly and intuitive environment. It also offers Meta Trader 4. Products include Entry orders, Limit Orders, Stop Loss & Take Profit. Hedging available in No Dealing Desk accounts only for UK clients. At Best feature, as opposed to Market Range, lets you trade at the best price coming in from global banks FXCM works with. Clients can directly connect with API Trading to the brokers’ price server. FXCM App Store available for analysis and easier trading.
Education: Rich resources in the form of market insights, forex videos, economic calendars, trading guides and more are available.
Deposits/Withdrawals: Deposits offered via debit or credit card, bank wire, Skrill, Union Pay and other options, taking 1 to 2 business days. Withdrawal forms are processed in 1 to 2 business days. Withdrawals can be made through bank wires, debit or credit cards and other options.
Customer service: 24/5 chat available, along with email support, and toll free numbers in various countries including Berlin, Sydney and UK.