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 |
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Maximum Leverage: | 30:1 |
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Minimum to Open Live: | $50 |
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Established: | 1999 |
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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 |
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Web Trading: | ✅ Yes |
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Mobile Trading: | ✅ Yes |
ECN: | ✅ Yes |
Currencies: | (35+) |
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Cryptocurrencies: | (3) Bitcoin, Litecoin, Ethereum |
CFD: | (25+) Gold, Silver, Other Precious Metals, Stock Indexes, Oil, Other Commodities |
Trading Conditions |
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EAs/Robots: | ✅ Yes |
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News Trading: | ✅ Yes |
Scalping: | ✅ Yes |
ZuluTrade: | ✅ Yes |
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Deposit Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill |
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Withdrawal Methods: | Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill |
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2.488 •
585 REVIEWS
Recent User Reviews of FXCM
A
anhnle177
Melbourne, Australia,
Jun 3, 2019,
Registered user
Deposit issue, terrible customer support, scam, stealing money system
I have made a deposit of $1000 when my usable margin dropped to 50% in order to avoid margin call by credit card. Normally it will appear in my account immediately due to FXCM website. However, this time it has never come. When I contacted FXCM customer support, they informed me that the new system will take few hours to 1 day for the fund to come, which hasn't been informed on the website nor email.
After that, they kept transferring me around and promised to ask the operation team to expedite my deposit. Firstly, it was 20 mins, then another 30 mins and by the time writing this complain, the fund has never showed in my account. They even lied to my that "the operations are doing the expedite for me manually" and "the fund will arrive now", but then saying they couldn't find my deposit in the system after several hours waiting. After all, no one knows where is my deposit and when it will arrive. This has led to the margin call and lost of $3000. If they didn't lie to me, I would have closed my trades earlier and limit my losses. Now I have lost nearly all my equity, the opportunity cost and been very frustrating with this unreliable service.
After that, they kept transferring me around and promised to ask the operation team to expedite my deposit. Firstly, it was 20 mins, then another 30 mins and by the time writing this complain, the fund has never showed in my account. They even lied to my that "the operations are doing the expedite for me manually" and "the fund will arrive now", but then saying they couldn't find my deposit in the system after several hours waiting. After all, no one knows where is my deposit and when it will arrive. This has led to the margin call and lost of $3000. If they didn't lie to me, I would have closed my trades earlier and limit my losses. Now I have lost nearly all my equity, the opportunity cost and been very frustrating with this unreliable service.
1 trader has found this review helpful
B
BMFer
Castro, Brazil,
Apr 2, 2019,
Registered user
Money stuck
My account is still locked since my first deposit, nobody replies my emails, I want my money back
4 traders have found this review helpful
C
celdom
France,
Feb 2, 2019,
Registered user
Don't trade EVER there
This coompany is as bad as its soound. I lost more than 40K with them they never refund me. Don't deposit or trde there you'll loose big time;
3 traders have found this review helpful
A
Arasan8585
India,
Jan 27, 2019,
Registered user
My account no is96067844 i opened account in mid 2017 and there are ups and downs in my trading and i do some withdrawal. I deposited through Skrill and withdraw through Skrill but now i deposited through Skrill 50$ because of Skrill not verified my account so that FXCM not accepting my deposit. And top of that fxcm asking me proof of my income and nature of my business, so as a seaman i given my seaman book and last ship sign on and sign off details, but they rejected this document because this is not proof of my business, And asking my utilities i have only electicity bill in my name but in my regional language, hello fxcm can u accept that? Instead of that I submitted my last month bank statement, Don’t you enough? And reply when I send email in clear way, oh my god online chat it is irritating those guys are half boil.....
5 traders have found this review helpful
J
jcarmelos
Caracas, Venezuela,
Jan 4, 2019,
Registered user
Excelente
Excellent, I've been a client for 6 years and I've never had problems withdrawing funds, everything works very well with its original Marketscope 2.0 platform, it's super complete and very efficient.
Excelente, soy cliente desde hace 6 años y nunca he tenido problemas para retirar fondos, todo funciona muy bien con su plataforma original Marketscope 2.0, es super completa y muy eficiente.
Excelente, soy cliente desde hace 6 años y nunca he tenido problemas para retirar fondos, todo funciona muy bien con su plataforma original Marketscope 2.0, es super completa y muy eficiente.

Reply by Jason Rogers submitted Jan 7, 2019:
Hello jcarmelos,
Happy new year and thank you for your continued support.
Jason
FXCM
Happy new year and thank you for your continued support.
Jason
FXCM
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.