FXTCM offers a comprehensive range of educational resources for traders of all levels. Their educational materials cover a wide range of topics, from forex basics to advanced trading strategies. While many users praise the quality and accessibility of these resources, some have noted that they could be more in-depth and interactive.
Additionally, some users have reported issues with the platform’s user interface and customer support, which can be frustrating for beginners.
| Founded | 1999 |
| Headquarters | London, UK |
| Regulation | ASIC, FCA, CySEC, ISA |
| Market Instruments | Forex, shares, commodities, indices, cryptocurrencies |
| Demo Account | ✅($20,000 virtual money) |
| Min Deposit | $50 |
| Leverage | 1000:1 |
| EUR/USD Spread | Floating around 1.1 pips |
| Trading Platforms | Trading Station, TradingView Pro, MT4, Capitalise AI |
| Payment Methods | Bank Transfer, Visa, MasterCard, Google Pay, Neteller, Skrill |
| Customer Support | 24/5 live chat, request a callback
WhatsApp: +44 7537 432259 |
| Regional Restrictions | The United States, Canada, United Kingdom, European Union, Hong Kong, Australia, Israel and Japan |
Is FXCM Legit?
FXCM is a legitimate broker with a long-standing reputation in the industry. The company is regulated by top-tier financial authorities, such as the FCA in the UK, the ASIC in Australia, CYSEC in Cyprus, and ISA in Israel, which ensures that it operates under strict financial and ethical guidelines. FXCM also has a solid track record of handling client funds in a secure and responsible manner.
How are you protected?
FXCM provides negative balance protection and offers its clients access to segregated accounts, providing additional security measures. More details can be found in the table below:
| Protection Measure | Detail |
| Regulation | ASIC, FCA, CySEC, ISA |
| Segregated Funds | ✔ |
| Investor Protection | Up to £85,000 |
| Negative Balance | ✔ |
| Financial Audit | ✔ |
| Insurance | ❌ |
Market Instruments
FXCM offers trading in five major classes of tradable assest, including forex, shares, commodities, indices, and cryptocurrencies, which provides traders with varying interests and strategies a broader portfolio.
| Trading Assets | Supported |
| Forex | ✔ |
| Shares | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Accounts
FXCM seems to only offer a single live account type. Their website does not reveal specific info on account types.
However, it offers demo account options. FXCM’s demo account, elaborately, provides a realistic trading experience with access to live market prices across multiple asset classes. Traders can receive $20,000 in virtual funds to practice executing buy and sell orders on FXCM’s user-friendly trading platform, available 24/5. This risk-free environment enables traders to hone their strategies and gain confidence before transitioning to a live funded account.
Leverage
FXCM offers several leverage options for trading Forex (FX) and Contracts for Difference (CFDs), depending on the account equity.
For equity less than $5,000, traders can access up to 1000:1 leverage for both FX and CFDs.
Accounts with equity between $5,000 and $50,000 are eligible for up to 400:1 leverage on both FX and CFDs.
Accounts with equity greater than $50,000 can leverage up to 100:1 for FX and up to 200:1 for CFDs.
Trading Platforms
FXCM offers four different trading platforms for traders to choose from, Trading Station, MT4, Capitalise AI, and TradingView Pro. All are available on desktop, web and mobile devices.
| Trading Platform | Supported | Available Devices | Suitable for |
| Trading Station | ✔ | Desktop, Web, Mobile | / |
| MT4 | ✔ | Desktop, Web, Mobile | Beginners |
| CapitaliseAI | ✔ | Desktop, Web, Mobile | / |
| TradingView Pro | ✔ | Desktop, Web, Mobile | / |
| MT5 | ❌ | / | Experienced traders |
Deposits & Withdrawals
FXCM welcomes several payment methods, including Bank Transfer, Visa, MasterCard, Google Pay, Neteller, and Skrill.
Conclusion
In conclusion, FXCM is a well-established and reputable broker that offers a range of trading instruments and account types with competitive spreads and commissions. The broker’s trading platforms are user-friendly and offer advanced features for traders of all levels. Additionally, FXCM provides educational resources and excellent customer support, including 24/5 live chat support.
However, FXCM is not available in all countries, clients from the USA, Canada, UK, European Union, Hong Kong, Australia, Israel and Japan are not accepted.
