FXCM Reviews
2.488 •
585 REVIEWS
FXCM is a forex broker. FXCM offers the MetaTrader4, Trading Station, Ninja Trader, and Zulu Trade top forex trading platforms. FXCM.com offers over 35 forex currency pairs, cfds, index, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.
February 6, 2017: FXCM was fined $7 million by the CFTC for defrauding retail forex customers. FXCM to deregister from the CFTC. CLICK HERE to read and discuss the CFTC announcement.
August 18th, 2016. The CFTC has filed charges against FXCM related to undercapitalization during the SNB-CHF crisis of January 2015. One of the charges is that FXCM guanteed client accounts against negative balances. Evidently, this form of client protection is against CFTC rules. CLICK HERE to verify.
February 26, 2014: FXCM.uk fined by the FCA. Click here to read about it in the FPA's forums, along with FXCM's response.
October 3rd, 2011: FXCM fined by the CFTC. Click here to read about it in the FPA's forums, along with FXCM's response.
Related sites include FXCM-Markets.com, FXCMBullion.com.
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, CySEC #392/20, FSCA #46534, FCA #217689 |
| Prohibited countries: | Show all >> |
| 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 |
Trading Conditions |
|
| EAs/Robots: | ✅ Yes |
|---|---|
| News Trading: | ✅ Yes |
| Scalping: | ✅ Yes |
| ZuluTrade: | ✅ Yes |
|---|
| Deposit Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill |
|---|
| Withdrawal Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill |
|---|
2.488 •
585 REVIEWS
Recent User Reviews of FXCM
ppppp
MTY, Mexico,
Sep 14, 2020,
Registered user
I want my money back
Service use: Live
Length of use: 0-3 Months
I want my money back, you are terrible, you are a scam, its not even great money but people need to know that you dont work, the process are huge contentious, you are sud by MDD, always keep me out from my account even when im creating the orders that also are bad made.
1 trader has found this review helpful
N
ngocduy1010
asian, Viet Nam,
Sep 2, 2020,
Registered user
FXCM is a Scam
Service use: Live
Length of use: 0-3 Months
They have a lot of tricks with traders. I have to wait a lot of times for withdrawal my money. I think they should be closed to protect traders.
2 traders have found this review helpful
rabihfx
conakry, Guinea,
Aug 8, 2020,
Registered user
Good broker
Service use: Live
Length of use: 0-3 Months
i didnt get any problem with them fast deposit and withdrawal and i alwasy get positive slipage
why 3 stars only ?
because they act as market maker so there is a dealing desk thats why trader may have conflict with broker interest
why 3 stars only ?
because they act as market maker so there is a dealing desk thats why trader may have conflict with broker interest
1 trader has found this review helpful
DaveT
uk, United Kingdom,
May 3, 2020,
Registered user
Pretty good broker
Service use: Live
Length of use: over 1 Year
No complaints about this broker. Does what it says on the tin. Spreads are decent.
No deposit and withdrawal fees are always good to see and the customer service is very helpful.
No deposit and withdrawal fees are always good to see and the customer service is very helpful.
B
Benjamin
Budapest, Hungary,
Apr 14, 2020,
Guest
Never trust them
Service use: Live
Length of use: over 1 Year
I have an opened live account at This company but i dont know why, they asked for my bank account statement. They wrote in email i have 10business day to send the documents or my account will be locked. I sent all of required within 2 days.
They locked my account, closed all of opened trades... and now i can’t withdraw my money what is more than $3000....
They have really bad support too...
I will change broker...
Never trust that **** company
Thanks..
They locked my account, closed all of opened trades... and now i can’t withdraw my money what is more than $3000....
They have really bad support too...
I will change broker...
Never trust that **** company
Thanks..
10 traders have found this review helpful
Find Similar Brokers
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/
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.