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Overall Rating: (2.384)
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Total Reviews: 542
Last Updated: 2015-11-23

FXCM is a forex broker. FXCM offers the MetaTrader4, Active Trader, Mirror Trader, Ninja Trader, and Zulu Trade top forex trading platforms. offers over 50 currency pairs for your personal investment and trading options.

Special Notes:


IBs for FXCM include

October 3rd, 2011:  FXCM fined by the CFTC. Click here to read about it in the FPA's forums, along with FXCM's response.

February 26, 2014: fined by the FCA. Click here to read about it in the FPA's forums, along with FXCM's response.

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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2006-02-11
Review: We haven't tried a forex trading account with If you've traded forex with this broker, please leave a review here.

Alex Findlay, , USA

Date of Post:2015-10-25
Review: I have had an account with FXCM for over 9 years. I had some issues with them prior till 2009 and even received reparations ordered by the NFA...FXCM changed after 2009 for the better ... For the last 6 years from 2009 till 2015 I would highly recommend FXCM. Alex Findlay

Aaron, Manila, Philippines

Date of Post:2015-10-23
Review: They do not have the best spread out there but their platform is one of the best in my opinion.

- Pinoy Trader

bayaraa, UB, Mongolia

Date of Post:2015-10-19
Review: Customer service is terrible FXCM doesn't like to reply their client email. I sent email to 2 weeks ago and forward it until now there is no reply from FXCM. Live chat is always offline and doesn't respond email I wonder how they connect their customers solve their problem. My account is not big enough just micro, maybe they don't like to serve traders who have micro account like me. Totally disappointed

2014-11-24 2Star FXCM's customer service is so bad. Live charts is always offline. I am trying to open account with FXCM. So I'd like to know whether they approve my documentation and sent email about it to several times. Within 4 days there was no reply from FXCM.
I totally wonder that the live chart is offline, they don't reply email. How do FXCM communicate with costumers. Just for opening account. Maybe FXCM don't like to accept small traders like me :(

Jerry B, Oroville, Ca, USA

Date of Post:2015-10-16
Review: Utter chagrin at fxcm, they took over my IBFX acct then after a few months they now renig and are going to not allow EAs on small accts under $1,500 and if you wish to continue with small acct its $10 monthly fee and only manual! So in chagrin I departed and found nice treating Belforfx in NZ which allows me 1 micro trading on auto and allow USA client! Very nice helpful support too!
If you wish to give them a short tell them Jerry B referred you, ok? You will be surprised at the pleasant service, fxcm was a crock.

DC, , New Zealand

Date of Post:2015-10-02
Review: Didn't run with too much trouble with them so I would have gave them 4 or 3 stars however after they changed my account from a standard account to mini WITHOUT telling me, I phoned them to ring that I noticed the connection has been set to mini and I suspected they moved my account but their representative outright LIED to me and said that it was their "label" and that I was in fact still on a standard account.

Mini accounts are dealing desks, while standard account are NDD. They told me that I needed to apply to change it back. I didn't ask to switch in the 1st place.

A few days ago, FXCM had a breach by a hacker apparently concerning sensitive user information so I decided to call them to withdraw my funds but phone support + website portal were down for a few hours.

Also, note that FXCM has HUGE debts because of the CHF crash, their future is not so bright so I would advise you to stay away from them and choose a more financially stable broker.

Comment: Added by Jason Rogers on 2015-10-08 02:14
  Hi DC,

Mini accounts tend to be popular with traders who have smaller balances, since these accounts have lower margin requirements giving you access to higher leverage. That's why we emailed you a notice about switching your account to mini and even included information on how you could opt out if you preferred to keep your standard account. Since you missed that email and want to keep your standard account, please email me at so I can follow up with our Operations department on your request.

Here's a link to the announcement we posted about the cybersecurity incident you mentioned:

That Thursday our live customer support team was answering calls and live chats as always, but there were longer wait times due to high call volume from the incident.

In regards to your comment about the loan we received from Leucadia after the EUR/CHF flash crash, it's important to note that despite the events of January 15th, FXCM's capitalization remains at levels similar to before the SNB event:

As we mentioned during our last earnings call, our plan is to pay back that loan with proceeds from the sale of non-core assets:

At that time, our CEO Drew Niv said the following: "FXCM is pleased with how our debt reduction plan is proceeding. We are ahead of plan and the results of the FXCM Japan sale exceeded our expectations. With all the increased attention to our other properties, we are expecting robust and competitive auctions for the other non-core assets we have targeted to sell."

As a further update last month, we announced the completion of our sale of FXCM Hong Kong to Rakuten Securities for a total consideration of approximately $38 million:

- Jason Rogers, FXCM Ambassador to Online Communities

Bigbird, UK, United Kingdom

Date of Post:2015-10-01

1/ FXCM's expelled my 3 accounts from the brokerage, after years of being a loyal customer, for no given reason and in an extremely rude manner.

2/ FXCM locked all of my funds- which I understand they can do for up to 2 months..without giving a reason.

3/ FXCM's insisted to send my funds back to where they were originally deposited from, despite my notice that the original bank account was actually closed (how awkward can a broker get!) and even when documentary proof was provided of a new bank account in my name/ same residential address.

4/ And FXCM's subsequent denial that the funds were finally released/ sent to the wrong account when I have hard evidence to support the contrary.

5/ Apart from an email from FXCM, affirming that FXCM sent the funds to the 'correct' account (and my bank's evidence to the contrary) I also have a 'live chat' transcript, from FXCM, affirming that the funds were sent to the 'correct' account, which in fact was the wrong one. Both sets of correspondence implies that its actions, regarding my withdrawal, are at best incompetent and, at worse, a complete fabrication of the truth.

6/ FXCM allowed me to convert the trading funds on account from GBP to USD, charging me a hefty conversion fee, only days before closing/ locking all my accounts and then sending the USD funds back into a GBP account! and then denying that they had sent the funds to the wrong account...

To cut a long story short I have now received back my original funds + profits + refund of charges for sending to a wrong bank account. But the experience was completely traumatic, took months to realise and would not have been realised at all without my persistence and threats to go to the FCA and indeed this forum. Needless to say the time and effort involved in recovering my funds has not been compensated for....

DO NOT DO BUSINESS WITH FXCM - no matter how good the customer service 'appears' to be...

Sony, Canberra, Australia

Rating: No Rating
Date of Post:2015-09-25
Review: FxCm has a dozen of services providers to provide prices to FxCm. FxCm has own software team and build own distribution server, which selects prices from the providers. However due to the limitations of their servers, hardware and software, which cause the process responses very slow, especially at news time or the price at top or at bottom, more people do trades. Therefore it comes out re-quotes, off-quotes, and invalid price very often, regardless how much deviation you have put. When I have used 450 pips or at the quite time, the errors still come. At top or at bottom of the price the spreads go widen and very hard to execute an order. I have lost lots of money due to the errors. You have to execute the order half dozen of time. The re-quotes error is horrible, MT4 comes a pop-up window, it request you to confirm New price is ok or not. It is quite often the pop-up window goes back of the main window, so that the system has locked. You cannot bring the pop-up window to the front. You cannot do any thing at main window but you can watch the price change. With so many re-quotes, off-quotes, and invalid price errors, it is not reliable to trade.

Tarvold, Melbourne, Australia

Date of Post:2015-09-25
Review: Recently, FXCM automatically changed all their accounts under a certain deposit size to their new Mini account. They advertise in an email to their clients that this new account will have "up to 400:1 leverage".

What they don't tell you is that they will be changing your account's leverage to 400:1, AND they will be taking away your ability to change back to your prior account leverage settings from their web portal.

If you want a broker that will, "at their absolute discretion", transform themselves into a casino and mess around with your risk profile, then FXCM is perfect for you. If you are looking for a broker that you can trust with your money, then FXCM isn't it.

smart, Nigeria, Nigeria

Date of Post:2015-09-23
Review: This broker is the worst have traded with.They froze their platform on my account times without number.
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