Broker Details
| Minimum Trade Size: | 0.01 |
|---|
| Maximum Leverage: | 30:1 |
|---|
| Minimum to Open Live: | $50 |
|---|
| Established: | 1999 |
| Address: | 20 Gresham Street, 4th Floor, London EC2V 7JE, United Kingdom |
| Contact: | info@fxcm.co.uk, +44 20 7398 4050 |
| Regional offices: | |
| Regulators: | ASIC #AFSL 309763, FSCA #46534, FCA #217689 |
| Prohibited countries: |
| Trading platforms: | MT4, NinjaTrader, FXCM Trading Station |
| Web Trading: | Yes |
| Mobile Trading: | Yes |
| ECN: | Yes |
| Currencies: | (35+) |
| Cryptocurrencies: | (3) Bitcoin, Litecoin, Ethereum |
| CFD: | (25+) Gold, Silver, Other Precious Metals, Stock Indexes, Oil, Other Commodities |
| EAs/Robots: | Yes |
| News Spike Trading: | Yes |
| Scalping: | Yes |
| ZuluTrade: | Yes |
| Deposit Methods: | Bank Wire, VISA, MasterCard, Neteller, Skrill |
| Withdrawal Methods: | Bank Wire, VISA, MasterCard, Neteller, Skrill |
FXCM.com profile provided by FXCMAffiliate, Mar 20, 2020
FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, spread betting and related services. Founded in 1999, the company's mission is to provide global traders with access to the world's largest and most liquid market by offering innovative trading tools, hiring excellent trading educators, meeting strict financial standards and striving for the best online trading experience in the market. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. In addition, FXCM offers educational courses on FX trading and provides trading tools, proprietary data and premium resources. FXCM Pro provides retail brokers, small hedge funds and emerging market banks access to wholesale execution and liquidity, while providing high and medium frequency funds access to prime brokerage services via FXCM Prime. FXCM is a Leucadia Company.
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Traders Reviews
I took both the GBP course for $169 and the 8-day power course for $19 (not a misprint). The best thing about both courses were the instructors always would give you both positive and/or constructive comments on your chart trade setup you posted for each subject (indicators, etc.) that they covered. They also answered every question that I asked and same with every student in both courses. The online instructors were all very knowledgeable and knew how to setup a good trade plan and explain it to all of the students. The courses are for beginners, but the instructors would answer any question so that was a big plus for me.
I lost $ 43,000 with these creeps in 2005 and have not recovered. I am flat broke. After reading many of the postings here, I now know that there was nothing wrong with my trading methods. I did my homework and played the game well most of the time. I still lost. FXCM made sure of that. What can we do to get these guys busted and get our money back ?
Not the best in fact far from it,....i have 3 platforms running and FXCM produce prices x amount of points out of the market at important support/resistance levels, hence fooling traders to trade ouside the market, in fact where the market hasn't even been. Dont even think about trading on News with these guys, the platform is to slow and will hang and only give you the deals that are totally comfortable for FXCM,.....lost a good amount of funds on 1 trade that by my calculation was still WELL in margin, ....but not by FXCM gauge !!! in fact the $ cost Average trade i was in was just getting back into profit, so explain that one,....ummm FXCM couldn't. SUPRISE. Now i have the platform open but dont use them as i cant be sure that the prices they display are true,...in fact y'day there was a clear 3-5 point difference on more than one occasion. like i say i have 3 platfroms running and see with my own eyes these dodgy prices they quote.....try it if your a client and see.
Really pissed....have lost a bunch of money and it has been my fault for playing it too tight etc. I can accept the responsibility when I gamble. However finally on the right side of a huge move and the chart has a "false pip of 200 points up" that closes out all my positions. It has been 5 hours and they have yet to reinstate my positions even though it is clearly their fault. It is like they know the GBP JPY is tanking hard so lets keep people from making more money. Absolute bullshit. As soon as I can I will try to find a better company. Just look at the daily fx chart for gbp jpy for today, Feb 15th 2007...look at thos fake spikes to knock everyone out...what the hell is that.
Ive been trading fxcm for about 6 months they changed my account to no dealing desk and stops would not kick in when i rang the dealing desk the guy could not change the stop and could not put a sell order in to counteract it. Hense closed the position lost money, this has happened 3 times now and i really dont like trading with them now. No one has sorted anything out or given me a refund for my loss, So im pissed. The lady on the desk said oh just hang on mean while my loss is getting greater. So i closed the position and all i get is sorry. But the other day there platform was down and they shat there pants because lots of people lost money and they had to sort it out.
I've been dealing with this company for 3 months. In February 2007 they had difficulties whilst upgrading their trading platform and I would have lost on 3 trades, but they refunded me $244.00 in respect of these trades. They may have had problems in the past to give them a bad name, but today, they have been goodness itself to me. All you have to do is go onto their Chat facility to get action or answers from their staff, whom, I have found, are very helpful.
I used this shop for 11 months and extremely glad to finally be rid of them with our association terminated. About 15 of my close friends have had the exact same experience and most of them no longer trade due to their underhandedness...The first 1 1/2 months my trades were about 70% successful even though I was brand new to Forex trading. Not long after that any positive trade immediately took a turn negative for no reason that could be explained using any charts or methods. I believe this was probably around the time that Refco came into FXCM's house. Unbelievable spikes to hit my stop loss positions, spreads that were also way out of bounds with other brokers...Relief is my feeling when I finally requested my little bit of what remained of my last deposit...STAY AWAY...
FXCM IS A SCAM!!!
i started trading with them in 2003 and was happy with them. I also started making good money. that's when all changed. i was put on dealer intervention and all their guarantees of execution became invalid. they would no longer honor their advertised rates and wanted rid of me. when i would attempt to confront these issues on the phone i was given the run around. after closing out my account with fxcm i opened one with xpresstrade as they were an introductory broker for fxcm. within two days i was again on dealer intervention and they would no longer honor their advertised rates.
ANYONE THAT CLAIMS FXCM IS ANYTHING OTHER THAN A SCAM EITHER WORKS FOR THEM OR HAS NOT BEEN TRADING LONG ENOUGH TO BE PROFITABLE!!!
i started trading with them in 2003 and was happy with them. I also started making good money. that's when all changed. i was put on dealer intervention and all their guarantees of execution became invalid. they would no longer honor their advertised rates and wanted rid of me. when i would attempt to confront these issues on the phone i was given the run around. after closing out my account with fxcm i opened one with xpresstrade as they were an introductory broker for fxcm. within two days i was again on dealer intervention and they would no longer honor their advertised rates.
ANYONE THAT CLAIMS FXCM IS ANYTHING OTHER THAN A SCAM EITHER WORKS FOR THEM OR HAS NOT BEEN TRADING LONG ENOUGH TO BE PROFITABLE!!!
I would not even bother with them, and for one good reason: they alternate you between fixed spread and no-dealing desk - SOMETIMES AT THEIR DISCRESSION (IT'S A DIRECT QUOTE FROM THEIR WEBSITE) That woud be the most idiotic proposition I've ever heard of.
I recently took the day trading course from FXCM and it´s great, i have learn a lot, and also i learned like 6 strategies, all of them profitable, i liked one that give me 30-40 pips daily for sure,this course worth the cost $999, i encourage you to take it, if you want to go farther in the forex trading, NOTE that this is the day trading course not the regular basic course, if you want to check this go here http://www.fxcm.com/day-trading-course-syllabus.jsp
copy and paste it, i think this is the best course for day trading,
copy and paste it, i think this is the best course for day trading,
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Frequently Asked Questions
How good is FXCM?
Unbiased traders reviews on ForexPeaceArmy is the best way to answer how FXCM is doing as a forex broker. https://www.forexpeacearmy.com/forex-reviews/78/fxcm-forex-broker
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.
Additionally, we'd recommend to check recent FXCM community discussions: https://www.forexpeacearmy.com/community/tags/fxcm/
How do I open FXCM account?
Opening an account with FXCM takes 3 main steps:
- Select your country of residence and desired trading platform to get started.
- You will then be directed to FXCM server to complete the online application.
- Log in to the MyFXCM client portal, deposit funds, and start trading.
What is FXCM?
FXCM is an online forex broker. FXCM offers access to trade following assets on MetaTrader 4 and Trading Station.
- Forex
- Shares
- Indices
- Commodities
- Crypto
Is FXCM regulated?
FXCM Group is a holding company of Forex Capital Markets Limited, and regulated in 3 countries.
- Forex Capital Markets Limited ("FXCM LTD") is authorised and regulated in the UK by the Financial Conduct Authority (FCA) with registration number 217689.
- FXCM Australia Pty. Limited ("FXCM AU") is regulated by the Australian Securities and Investments Commission (AISC), AFSL 309763.
- FXCM South Africa (PTY) Ltd Ltd is an authorized Financial Services Provider and is regulated by the Financial Sector Conduct Authority (FSC) under registration number 46534.
Why did FXCM get banned?
On February 6, 2017, FXCM was banned from operating in the U.S. after the Commodity Futures Trading Commission (CFTC) found the retail currency broker had defrauded their retail forex customers.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
74.74% of retail investor accounts lose money when trading CFDs with FXCM.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
74.74% of retail investor accounts lose money when trading CFDs with FXCM.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.