FXCM Review

2.494 · 581 REVIEWS
Updated: Oct 28, 2020 · FXCM.com  · Is this your company?

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.

FXCM
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.

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

Live discussion

Join live discussion of FXCM.com on our forum

Go to forums

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.

Video

Your company video here? Contact ad sales

2.494 · 581 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

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.
 
asian, Viet Nam,
Sep 3, 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.
  1 trader has found this review helpful
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
 
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.
 
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..
  5 traders have found this review helpful
Dhaka, Bangladesh,
Apr 12, 2020,
Registered user

Best for algo-trading

Service use: Live

Length of use: over 1 Year

I do algorithmic trading, like to use my own platform to trade, FXCM gives me full API support to do that, their support to fast, if I need any api help. their staff helped me in 5 minute ! I started Algorithmic trading using oanda, but in few month they deactivated my account and asked 50000 USD to continue.. FXCM is trusted platform for algo traders and stable for small balance traders ..Also they do my withdrawal in a day..
 
south sulawesi, Indonesia,
Feb 22, 2020,
Registered user

excellent broker

Service use: Live

Length of use: 6-12 Months

Excellent, 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.
They don't have limitation for pending orders too. Excellent broker
 
Jakarta, Indonesia,
Feb 1, 2020,
Registered user

Very slow service

Service use: Live

Length of use: 0-3 Months

service to the promised bonus takes a very long time, 5 working days. withdrawal of funds 2-5 working days via skrill. and execution of trading reqoute.

wasting too much time trading on this broker.
  1 trader has found this review helpful
Essex, United Kingdom,
Jan 11, 2020,
Registered user

Disappointing, unprofessional

Service use: Live

Length of use: over 1 Year

I have traded with FXCM for almost 15 years and although there have been a few issues, overall they have been good. I have traded almost every day in that time and have not experienced the issue that happened on 2nd January 2019.

I placed a trade on the NZD/JPY at the price that was displaying on the FXCM trading station platform. I noticed nothing happened and it went into pending. I then check ed the charts to see that the price was vastly different to that which the trading station was reading, something like an 80 pip difference, I tried several times to cancel the trade whilst it was pending, but the system would not do that.

I contacted FXCM after and they declined to pay me back citing 'gapping'. That was not my understanding of this as the trading station [rice was frozen and I was not to know that this was not the current price.

Being such a long time client I was really disappointed with their attitude. I have recommended 6 others to the company over the years as I have always trusted them, but the way they dealt with this issue was really poor.
  5 traders have found this review helpful
Kuala Lumpur, Malaysia,
Nov 29, 2019,
Registered user

Bad Operations team and Customer Service

Service use: Live

Length of use: over 1 Year

Deposit money to this broker. Instantly deducted in my bank. But never appeared in my fxcm account. I ask many times to their customer service if I need to send a document since I’m not active with them approximately 1 year. They said No need.

After 3 days not appeared on my account. I send and email and also contact their team to cancel my deposit... almost 1 week. My money is not refunded.

Which authority should I report regarding this matter. I already open others broker which I already start to trade.
  3 traders have found this review helpful
Munich, Germany,
Nov 20, 2019,
Registered user

Good platform and quick execution

Service use: Live

Length of use: over 1 Year

I have been trading live with FXCM for about two years now. Execution is fine and platform very stable. There were also no issues with withdrawals or deposited. I only needed customer support a very few times. My questions have been answered within one day.
  1 trader has found this review helpful
burhan,
jakarta, Indonesia (Really FCXM's offices in the USA),
Oct 23, 2019,
Guest

Broker untuk orang indonesia yang berpengalaman trading

Service use: Live

Length of use: over 1 Year

Trading di FXCM sudah lama, dan merasakan kepuasaan yang berbeda dengan broker lain. Dimaa tdk batasan trading. Live chat, email semua dibales secepat mungkin dan professional sekali. Tidak banyak bonus yang engga engga.
 
Forex Peace Army
Review moderation team note
4 Star rating removed.  This review came from FXCM's offices in the USA.

Per FPA policy, the rating on this review has been set to Zero stars.
Gulf, Qatar,
Sep 16, 2019,
Registered user

very good broker and an excellent customer service

Service use: Live

Length of use: over 1 Year

dear all greeting,
i do respect all the opinions about this company even the negative ones, but in fact my experience was and still very good with them. my first account was in 2011 (UK Branch) and since then i leave for year or more and come back to the same company many times with ease. i lost money many time but it was my fault and lack of experience ( notice it was easy to blame them!!).
i even recommended this broker to many friends of mine and no one faced any difficulties to withdrawal or even close their accounts.
right now Sydney branch hold my account for almost one year ( because i live in Gulf Area )and they are very supportive, easy to deposit and withdrawal or transfer money between my accounts accounts.
i wish all of you good trading and thanx FXCM.
and
  1 trader has found this review helpful
Abd,
England, United Kingdom,
Sep 2, 2019,
Guest

Bad customer care service

Service use: Live

Length of use: 0-3 Months

very bad customer care service,,,, took them two weeks to reply to my email to switch my account to swap free account... so I decided not trade from the begining
  1 trader has found this review helpful
Evaton West, South Africa,
Jun 27, 2019,
Registered user

Very bad broker, actually a proffessional scammer

Service use: Live

Length of use: 0-3 Months

I deposited 300$ into fxcm, I opened one trade then it was closed once at profit, surprisingly my account decreased instead of increased balance. I tried to withdraw the rest of my balance which was above 200$ it declined then I was able to withdraw 110$ which they wrote me an email saying it's a pending approval from march until today.
I send them emails regarding my complaint thy didn't respond until today.

Very cruel broker
  4 traders have found this review helpful
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.
  1 trader has found this review helpful
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
  3 traders have found this review helpful
Pakistan,
Mar 22, 2019,
Registered user

$50K Stuck // Terrible Experience//

Terrible Experience, Terribly lazy support

I have over $50,000 ($50K) stuck with FXCM. Four issues here:

1- I made deposits via wire transfer and now upon withdrawal, they are refusing to send funds back to my bank account. They keep asking for docs and I have provided each and everything (bank statements, deposit receipts)

2- They forced me to take a withdrawal via Skrill. I had to make an internal transfer of funds from AUD account to USD account and they charged a fee of over $375. Why should I pay this fee, I don't even want to withdraw funds in Skrill as it's extremely expensive.

3 - My funds are stuck there for more than a month now and I can't trade them, I should have made over 10/15% profit on them. Who is responsible for this loss?

4- Their support is weird. Different guys call and ask the same info and then there's no progress on the issue.

Fellas, take this review seriously, it's over $50,000 we are speaking about right now no $50 or $500.

I hope they refund my funds and compensate me for the loss.
  4 traders have found this review helpful
France,
Feb 3, 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
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.....
  3 traders have found this review helpful
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.
 
Reply by Jason Rogers submitted Jan 7, 2019:
Hello jcarmelos,

Happy new year and thank you for your continued support.

Jason
FXCM
Morocco,
Nov 12, 2018,
Registered user

Hi i trade with fxcm close to 1 year now ! everything good ! one thing i don't like with fxcm is withdrawal time take between 2 days and 5 days that just to much !
i hope fxcm make withdrawal time faster
 
Reply by Jason Rogers submitted Dec 14, 2018:
Hello rachidramhi,

Thanks for trading with FXCM and I'm happy to hear everything is going well.

Your feedback is also appreciated. Withdrawals are typically processed within 1-2 business days and the amount of time it takes to arrive in your account can vary by bank processing times. For example, domestic wires take approximately one to two business days and international wires can take three to five business days to arrive. However, I will relay this feedback to our management team as we are always looking to improve our services to make your experience even better.

Wishing you an early happy new year!

Jason
New Hampshire, USA,
Nov 5, 2018,
Registered user

Bad broker and has terrible trading conditions..
Stay away everybody is staying away from them here in the USA.
  1 trader has found this review helpful
Forex Peace Army
Review moderation team note
FXCM has not accepted US clients since February 2017.
Reply by Jason Rogers submitted Nov 12, 2018:
Hi eresic,

While you may not be familiar with FXCM's trading conditions, we release execution stats on a monthly basis. The latest was released on Friday which can be found here https://docs.fxcorporate.com/october-execution-release.pdf

Highlights from October 2018 indicate that
- 64.2% of orders executed at price requested
- 24.3% of orders executed with positive slippage
- 11.4% of orders executed with negative slippage

Client trades here cover stop, limit, “at market”, and entry orders. Certain non-direct clients are excluded from the data. Limit and limit entry orders would only execute at the requested price or better and cannot receive negative slippage. Price improvements are subject to available liquidity.

During the month of October, the SPX500 had an average effective spread of 0.3 and GER30 of 1.2 for active trader spreads. Spread data for additional symbols can be found in the October release https://docs.fxcorporate.com/october-execution-release.pdf. This data is compiled forex and CFD trading data from FXCM’s Active Traders for 1 October, 2018 to 31 October, 2018.
The data reflects the spread at which trades were executed by FXCM clients during all trading hours.

The trading experience at FXCM for our traders is a top priority for us which is why we are very transparent with the monthly data release.

Jason

78.58% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cambodia,
Oct 10, 2018,
Registered user

I place positions JPN225 for 100 on 9/24/2018 till 10/04/2018, I just realized fxcm charge me $140.04 for dividend, Uk100 for 20 on 08/03/3018 till 08/15/2018 they also charge me $50.49 for dividend, I contacted they, they said it charge from other JPN225 and UK100. i ask them, how can I know when and how much they will charge for it, They just told me they absolutely has no idea about this. That's really no responsibility.
  2 traders have found this review helpful
Reply by Jason Rogers submitted Oct 22, 2018:
Hello elviesjo,

Thank you for trading with FXCM, and we believe it is important that clients know beforehand when dividends will occur for stock indices and how significant the dividends may be. A dividend calendar is located on our website that lists when a dividend occurs for stock indices and if the dividend amount may be larger than normal. The dividend calendar is found here http://help.fxcm.com/uk/Product-Guide/Overview/CFD-Trading/889323311/What-are-the-upcoming-dividends-for-FXCM-s-Index-CFDs.htm . While the exact dividend amount cannot be listed ahead of time because it is proprietary information from a third party and cannot be released prior to the index issuing a dividend, we do provide you with a range based on the past 12 months of dividend data to help you decide whether you want to keep the positions open or close the positions to avoid earning or paying dividends.
Malaysia,
Sep 6, 2018,
Registered user

I had requesting an IB commission fee transfer to my trading account for few times, 92022107, but there is still no reply from FXCM site.
  2 traders have found this review helpful
Reply by Jason Rogers submitted Sep 11, 2018:
Hi jscheok,

Our support team is available by live chat 24 hours a day to help check the status of any requests http://bit.ly/FXCM_Live_Chat

Jason
Obediah,
North Enland, United Kingdom,
Aug 20, 2018,
Guest

What's the problem?

Every once in a while I check out other brokers just for curiosity and their review's always make bad reading. I've been with this broker for the best part of a decade, so as a kind of control I come back here for comparison just to give some perspective from a broker I have had nothing but good service from. After dozens of in/out transactions without a glitch I honestly cannot see the basis for all these complaints. I suspect that a lot of these - I was stopped out unfairly stories - relate to people leveraging large % of their accounts to steal a few pips. We all know (or should) that spreads can and do momentarily widen quickly and without warning, experience shows that this style of close to the edge trading usually ends in tears. When losing money, the hardest person to blame is yourself. A longer term style whilst not giving that instant gratification usually works overall.
To sum up. Unless there is another FXCM I don’t know about, many of these reviews are very misleading…
 
Reply by Jason Rogers submitted Sep 7, 2018:
Thanks for trading with FXCM. Our goal is to provide the best forex and CFD services in the industry, and your feedback is very important to us!
Dubai, United Arab Emirates,
Aug 15, 2018,
Registered user

Spreads

Good spreads withdrawl little delayed though, But got an apology call for the same so Its ok :)
 
Reply by Jason Rogers submitted Aug 20, 2018:
Thank you for your review Md. Asad. Spreads, execution, and a positive trading experience are a top priority for FXCM. We apologize for any delay in the withdrawal, and your feedback is very important so we can continue to improve our services.
INDONESIA, Indonesia,
Jun 21, 2018,
Registered user

SCAM , FXCM NOT PAY MY MONEY $5457 USD , WITHDRAWAL NOT PROCESSED

hello all, if anyone can help me, fxcm not pay my money $ 5457 usd, i deposit $ 2800 usd , then i have profit $ 2657 usd and my balance become $ 5457 usd, then i do withdrawal request, but after i do withdrawal my account instantly become locked up, and I've sent an email to: admin@fxcm.com, jrogers@fxcm.com to inquire about my withdrawal, but they all nobody ever replied, which means fxcm does not want to pay me $ 5457 usd, so I ask anybody who can help me please help withdrawal me so that can in pay by fxcm

ACCOUNT METATRADER : 96085956
EMAIL : djokosatrio@hotmail.com

this screenshot metatrader me :
[URL=http://s1356.photobucket.com/user/DJOKOSATRIO/media/screenshot%20metatrader%20djoko%20satrio_zpsyc7bw5cs.jpg.html][IMG]http://i1356.photobucket.com/albums/q738/DJOKOSATRIO/screenshot%20metatrader%20djoko%20satrio_zpsyc7bw5cs.jpg[/IMG][/URL]

http://i1356.photobucket.com/albums/q738/DJOKOSATRIO/screenshot%20metatrader%20djoko%20satrio_zpsyc7bw5cs.jpg
  1 trader has found this review helpful
Reply by Jason Rogers submitted Jul 9, 2018:
Hello djokosatrio,

Thanks for your post. It is my understanding that our compliance department is handling any communications with you and I am therefore unable to help. As much as I would like to help and am able to in most situations, our compliance department will need to help with any inquiries about your account.

FXCM Markets is committed to maintaining the highest standards of ethical behaviour and professionalism as well as a high level of trust and confidence, all of which are pillars of FXCM's corporate culture. FXCM has earned a reputation for fairness, honesty, and integrity, and considers this to be our most valuable corporate asset. FXCM had over 109,000 active accounts as of our latest metrics release for June 2018 and it is our goal to process any deposit or withdrawals as quickly as possible. If there has been a delay on our side I do apologize, and we will do our best to resolve the situation as quickly as possible. There may be rare instances a delay has occurred due to the need for us to follow strict legal rules and regulations in regards to how we handles client’s funds and again I apologize if this is causing a delay. If you have any questions about this please feel free to reach out directly to our compliance team whose email address will be included in our recent email communication.

Jason
London, United Kingdom,
Jun 3, 2018,
Registered user

SCAM

I didn't think I will be have any problems with big broker firm like FXCM but it is happened... I did withdraw into my old account by mistake. Keep in mind that this account is closed and switched half a year ago. Some how thay approved the transaction and start to blaming the bank how explained to me that this is simple possible. Can you imagine your employer to sand you tour salary on your old long time ago closed account and instead of tells you "it was declines give me a valid account" , he tells you "there is no problems, the money are there, you keep looking." Well that is my expiriance with this guys.
It is not correct and thay didn't give me even some kind of a code to help me track this mystirias transaction.
  1 trader has found this review helpful
Reply by Jason Rogers submitted Jun 11, 2018:
Hi v1ctor90,

I apologize if there was an error in sending the bank wire, and our operations team is available to help whether it be supplying the wire confirmation details or helping with your bank to ensure your funds are returned. FXCM has over 110,000 active accounts as of May 2018, and ensuring all requests are processed properly is very important to us. Please send me an email directly at jrogers@fxcm.com so I can have our operations team help to get it resolved as quickly as possible.

Jason
Mohammed,
Bahrain, Bahrain,
Mar 6, 2018,
Guest

New traders are to blame for thier losses, and FXCM is to blame for promoting accounts of $100.00

Hi
My name is Mohammed.

I've traded with FXCM in the past, I've won and lost many times in my trades. I'm an experienced trader now, trading since 2005.

If I wanted to give a review of FXCM, then yes, during my time with them I've experienced entering trades before the prices even reached my designated order price, while the market was not volatile, but not all my orders to be honest, and yes, some of my trades have been cancelled before prices even reached my Stop Loss order, which rarely happened. I believe that it was a technical issue, especially that I found that in the hourly chart it has reached my Stop Loss order, which didn't print out in the daily chart.

I'm not a day trader, my trades are based on the daily chart, and formulated my trades in the 4 hour chart as a minimum, I never did trades below the 4 hour chart. Any experienced trader knows that day trading (below the 4 hour chart) ended up losing trades 85% of the time, so, personally I don't recommend day trading especially in Forex due to the high volatility of prices.

I read many reviews in this website, and to be honest, I think that 90% of them are from new and inexperienced traders, who are actually day traders. No decent trader ever opens an account and funds it with $100.00 and expects to win largely by entering high amounts of contracts, you have to expect a margin call, especially with a tight account of a $100.00 fund. I blame FXCM for promoting the possibility of opening accounts of a $100.00 or less. I never funded my account below $1000.00, and with it I only traded 1 currency pair, just to be safe. In all my trades I never risked more than $100.00 per trade. Traders have to be disciplined, and eliminate greed and fear when trading.

So, to conclude, FXCM has technical issues with their platform, but wether it was on purpose or not, that's another issue. My take is, that most new traders, have no experience in the trading business, and all fell to the classic trading mistake (blame everyone else for my losses, except my own wrong doing).

Thank you. (March 6th, 2018)
 
Reply by Jason Rogers submitted Mar 15, 2018:
Hello Mohammed,

We offer micro lots which is why users are able to fund with $100. Many traders fund with a small amount to test and then increase their account size depending on how comfortable they are trading. Each trader is different.

The most common reason a trader would see their stop loss execute without seeing the price reached on the chart is because they aren’t factoring the spread. There are two types of prices to pay attention to in trading. One is the bid price, which is the price you would sell at. The other prices are called the ask prices, which are the prices you buy at. You can view these by going to Trading Station and pulling up a chart. In the toolbar, there will be bid and ask buttons to flip between either chart. You can see what I mean here if you’d like: https://www.youtube.com/watch?v=bPqhq89JQfU

If there is ever a question about the execution of a trade, you can file a trade audit. At FXCM we take trade audits extremely seriously. We have a team dedicated to dealing with these specific situations.

Jason
Bulumko,
Cape Town, South Africa,
Feb 13, 2018,
Guest

I traded for a week with 50 dollars, I got scared and I requested my money a profit back. I never found any problems. I re activated my account and I'm trading .I'm not finding anything wrong.
 
Reply by Jason Rogers submitted Feb 22, 2018:
Hello Bulumko,

Good to hear everything is going well with your trading!

Jason
Sydney, Australia,
Feb 11, 2018,
Registered user

FXCM Closing Account with No reason

They scammed me. They took a decision to suspend my account and gave me 30 days notice to close it with no valid reason. The answer I got was we have made a decision to suspend trading with you. I have had an account with them for 9 years and will lose of $80k due to this action from them. Totally unprofessional. Others please be careful. (this is FXCM Sydney which is registered under ASIC)
 
Reply by Jason Rogers submitted Feb 28, 2018:
Thank you for choosing FXCM, and I am sorry we are no longer able to service your account. As a regulated broker, we may be unable to provide services for some individuals. Our compliance department can be reached at compliance@fxcm.com with questions

Jason
Oregon, USA,
Feb 5, 2018,
Registered user

FXCM is buying their "rating" to lure in unsuspecting Americans and fleecing them.

FXCM is a "highly rated" broker for US clients. This "rating" pops up in a wide variety of different places. To "back this up" they "offer" two different "bonus programs". These bonuses look pretty good on the surface, however, when you actually get right down to it, the company has absolutely no intention of ever paying them. I have confirmed this through their own technical support departments. The "bonuses" are particularly dangerous because they hook into the key fears and desires of novice and intermediate traders. The first is a "Phoenix" bonus to "help you rise again", and the second is a "100% deposit match bonus" that you lose if you ever withdraw your deposit or any profits.
 
Forex Peace Army
Review moderation team note
FXCM stopped accepting US clients about a year ago.
Torino, Italy,
Jan 29, 2018,
Registered user

SCAM

they scammed me. I have 11k not possibile to withdrawal because my account is locked and nobody know why. Nobody reply me since 3 weeks
  1 trader has found this review helpful
Reply by Jason Rogers submitted Feb 6, 2018:
You can withdraw from a locked account by emailing admin@fxcm.com. I would be happy to investigate the issue if you can please email me at jrogers@fxcm.com.

Jason
Ghana,
Jan 8, 2018,
Registered user

STAY AWAY IF YOU WANT TO TRADE FOREX AND NOT TO APPLY FOR A JOB WITH FXCM

SNEAKY ACTIVITIES BY FXCM.
I opened a live account with FXCM in September 2017, I deposited 120 USD from my debit card linked to my bank account. In November 2017, I made additional deposit of 60 USD with that same debit card. Then finally in December 2017 I deposited 50 USD in my account with that same debit card. Then all of the sudden I received an email from their operations department that since this is my initial deposit (which it wasn't), I should submit copy of my credit/debit card or debit card statement. So I submitted a copy of my debit card. After about a week, I received another email from their operations department in UK to submit my bank/debit card statement and employment details. Which I did without question. Then after almost a week, I received another email from their Chinese operations to explain the origin and details of some amounts in my bank statement . STAY AWAY FROM FXCM. I have replied for them to return the deposit to its source and Wil close my account when that is done then move to a different broker . Additionally, they once suspended my live account just because I opened another account and refused to submit additional documents to validate that account. STAY AWAY, FXCM is not for us.  I will update as and when they reply.
  1 trader has found this review helpful
Reply by Jason Rogers submitted Feb 6, 2018:
FXCM has very strict regulatory requirements in regards to deposits and withdrawals and must in all situations verify that deposits are in the name of the account holder. I apologize if this caused you any inconvenience.

Jason
USA,
Jan 1, 2018,
Registered user

FXCM WILL STEAL YOUR MONEY AND CALL IT TECH ISSUES.

I have been calling out FXCM's thievery for years!!! NEVER trade with them or believed the bs they post on here! They straight up lie and steal your money. Any time I was profitable with them all of a sudden TECH ISSUES!!! HAHAHAHAHA what a joke. Luckily i only deposited small amounts because I never trusted them! You're thieves FXCM and ya got what ya deserved!! HAHAHAHAHAHAHAAH LUV IT!!!!!!!
  1 trader has found this review helpful
Reply by Jason Rogers submitted Feb 6, 2018:
Hello hillo,

I don’t recall any recent tech issues, but our support team is available 24 hours a day to help if you encounter any technical issues. We also maintain the site www.fxstatus.com with updates on any system issues.

Jason
SYDNEY, Australia,
Dec 19, 2017,
Registered user

FXCM VERY BAD

VERY BAD FXCM BEEN 4 MONTHS USING YOU, NOW MY ACC BEEN SUSPENDED FOR 4 WEEKS ALREADY WITHOUT CLEAR REASONS. AND I HAVENT GOT ANY EMAIL OR ANYTHING ABOUT MY ACC UNTIL NOW.YOU SAID BEFORE ON EMAIL JUST 2- BUSINESS DAYS. AND IF I DONT WANNA WAIT FOR REVIEW I CAN CLOSE MY ACCOUNT, I SENT EMAIL TO YOU SO MANY TIMES ABOUT TO CLOSE MY CCOUNT AND NO REPLAY AT ALL. ILL GO TO FAIR TRADING IN FEW DAYS, 
  1 trader has found this review helpful
Reply by Jason Rogers submitted Feb 6, 2018:
I apologize if there were any delays in communication from our operations team. Please email me directly at jrogers@fxcm.com so I can investigate any problems that may have occurred and address it with our management.

Jason
John,
Michigan, USA,
Dec 9, 2017,
Guest

These crooks stole my money.

These crooks stole my money. I deposited $100.00 USD to open an account.
When I asked for a refund, they said my account was closed with a zero balance.
I was told all of my money went to fees charged by FXCM.
WHAT FEES?
  1 trader has found this review helpful
Reply by Jason Rogers submitted Feb 6, 2018:
Hello John,

The dormant account administrative fee is charged on an account if there is no client-initiated activity in the 12 months preceding the charge date. In order to avoid the fee, you would simply need to deposit additional funds, place a trade, or withdraw the funds back to your bank account. We email clients beforehand notifying them of the upcoming fee and how to avoid it.

The dormant account fee is not charged for the sake of having a fee. We would be happy for the account to be open and funded for when you are ready to begin trading. The problem with having the account inactive for long periods of time is that we have to start dealing with dormant account laws in multiple jurisdictions. Therefore we would rather you either have the funds in your own bank account if you plan to let it sit there for years at a time, or use the trading account for trading.

I can look into the circumstances of your account if you would please email me directly at jrogers@fxcm.com from the email address on file with your account.

Jason
Ganesan,
Chennai, India,
Nov 17, 2017,
Guest

Excellent Service

I am in india, am open FXCM new account Wonder full customer services with supporting ... Thank you.
 
Reply by Jason Rogers submitted Feb 6, 2018:
Hello Ganesan,

Glad to hear you are enjoying your trading with FXCM. All the best!

Jason
FAME,
London, United Kingdom,
Oct 20, 2017,
Guest

How FXCM cheat their customers

Hi,
I lost around UK 55,000 pounds in two days last month. When I started, I made around 25,000 profit but when I was planning to withdraw my capital that time this had happened and I lost my capital and all profit in two days.
FXCM is a dodgy company and some times they create market volatility by them selves, for example if the USD/GBP is down by 10 pips, they create artificial extra volatility by another 90 or 100 pips down so that anyone who is not monitor their account 24 hrs they can loss 100% of their equity, even though if you have 90% margin still your money is at risk and anytime you can lose your money.
I don't think so anyone can make profit on FXCM platform as either they will intentionally fall you in margin calls or create artificial volatility. If you make any complain that will not help at all as their audit department will reply to you the same that we have reviewed your case and nothing wrong from our side etc.
I think we all who are the client of FXCM in the UK should be united and place our compliant to the FCA together so that this dodgy company is bound to payback our money which they have cheated us and taken from our pocket. 
  1 trader has found this review helpful
Reply by Jason Rogers submitted Feb 6, 2018:
We’re sorry to hear you didn’t find success with your trading; however, FXCM does not ‘create extra volatility’. Forex pricing is set by price competition from multiple liquidity providers. Each liquidity provider streams through a direct feed of indicative buy and sell prices to FXCM. FXCM's No Dealing Desk Price Engine selects the best buy price and the best sell price, which result in the best available spread. Generally, there is no markup added to FXCM's Standard No Dealing Desk account type, making our spreads transparent and some of the lowest in the industry.

FXCM takes trade audits very seriously and our dedicated trade services team investigates any trade inquiries to determine whether there was an error in execution. if you are unhappy with the audit you received, you are able to file an official complaint: https://www.fxcm.com/uk/forms/compliance-inquiry-form/.

Jason
Palestinian Territory, Occupied,
Aug 6, 2017,
Registered user

complaint

I opened a trading account with FXCM, made a deposit of $ 1800 and then made a profit of approximately $ 2,700. After that I ordered the withdrawal of the principal capital ($ 1800) and the withdrawal was successful.
Then I asked to withdraw the profits of ($ 2715) and the amount was deducted from my trading account with notification that the transfer needs 3 to 5 working days to reach my bank account, but on the fourth day on 03/07/2017 the amount was returned to the trading account.
After that I was notified through email that your trading account has been temporarily suspended, and to this day the account is suspended and I can not trade or withdraw money, and whenever i communicate with them, they tell me that your account is under review.
They have been reviewing my account for more than a month without any updates, and I need to withdraw my money but they are preventing me from doing so under the pretext of reviewing the account.
(account no: 96053170 / name: EISA ALMASRY / broker: FXCM.COM)
Attachment: Account statement from the beginning to the day
  1 trader has found this review helpful
Reply by Jason Rogers submitted Aug 23, 2017:
Hello eisamasry,

Please understand that we are unable to publicly discuss any client account information due to our privacy policy. Our compliance department takes any reviews and complaints regarding trading and operations very seriously and will respond as soon as possible. In our business conduct, we must always be in compliance with applicable laws and regulations.

I apologize for any delays you have experienced, and we look forward to helping you in the timeframe that was communicated to you by our compliance department. Please note that for your privacy and security, I recommend that you please do not post your account information publicly.

Jason
Colombia,
Jun 14, 2017,
Registered user

some of my operations were closed before to reach the stop loss , I saw how after the market choose the way were my take profit was.
 
Reply by Jason Rogers submitted Jun 22, 2017:
Hello crg771406,

If your positions were closed automatically before reaching a stop or limit, it may have closed due to a Margin Call. If you run out of usable margin in your account, a margin call occurs and all trades are automatically closed, regardless of whether you have stops or limits on the trade.

Margins calls often occur due to overleveraging. Using more leverage can magnify your gains, but it can also magnify losses which will quickly deplete your usable margin. The more leverage you use, the faster your losses can accumulate.

The position size that you can hold in your account using leverage is determined by your account equity and the margin settings in your account. To track how close you are to the maximum position size for your account, FXCM provides real-time information on usable margin (the account equity available to take on new positions—USbl Mr) and used margin (the account equity needed to maintain open positions—Usd Mr). Together, used margin and usable margin equal account equity.

Our support team would be happy to review any trades if you can please contact us by phone, live chat, or email with trade details.
Ahmed Adel Khedr,
Kafr elshikh, Egypt,
Jun 14, 2017,
Guest

Problem with fxcm brokerage company

Gentlemen
After greeting

I will present a summary of the existing problem between me and FXCM
Brokerage

My speech may explain this problem to anyone viewing the files attached to this letter that containing the evidences supporting my claim to all my material and moral rights from FXCM

I would like to ask you to allow me to extend the length of the videos, but I wanted to clarify the evidence supporting my case in detail to help you make a fair judgment in this case

I’m a customer at this company several years ago , I did not expect what you will see in those videos of the excesses and errors in the lists sent by the company to customers through its platform known Trading Station 2 , which is always advising customers to use and depend on it

My ID at FXCM is : 2088157449

My total deposits over the years I spent with the company were : $ 28,477.93

It is known in the forex market and the most important factors of entry and exit from it less losses are places, models and forms of candles and it’s time

FXCM manipulates customers through what comes :

1 - The company manipulates the redrawing of candles on the chart and changing places to deceive customers at the points of entry and closure

An example of this is :

The customer can imagine when he sees the shapes, models and places of the candles that are drawn that these candles indicate a sign of buying or selling while the correct drawing is the opposite of that vision that the company has drawn through the chart

After the customer enters the deal and reopens the platform later, with view of the chart, especially the small frames, the customer finds a complete change in the shapes and models of the candles

Clearly, this deliberate and repeated error of the company happen when we see the entry candle of the trading and determined by the platform is marked with an upward arrow in the case of the purchase and a downwards arrow in the case of the sale does not pass essentially at the price of entering the deal from which the trading has already started

While at the beginning of the deal there were candles already drawn in this place and time or this trade will not be occurred here as long as the price did not pass

Note : The Company offers, through its platform, a chat for buying and another for selling .

* This means :

If we have activated the purchase transaction, it must pass the candle entry at the purchase price on the purchase chart and it is not necessary to pass the same candle at the price of entry on the selling one

And the opposite is true. If we have activated a sale transaction, the entry candle must pass at the price of entry on the sales chart and it is not necessary to pass the same candle at the purchase price on the purchase chart

* As long as there is a buyout and a chart for sale so there is no average price

2 - The company is drawing candles that do not exist on the chart in real

* The company draws some candles on the chart that makes the customer imagine the wrong direction of the price

An example of this is :

If we opened the chart and formed a reflective candle based on this we entered a deal to buy or sell either according to the location of the candle and then we open the same chart after a period of time and considering the place of the candle that was already drawn in it will not find it in place

3 - The company manipulates the candlestick time on the chart

* The importance of time is the time of entry and time of exit transactions and the time of opening and closing sessions in global stock exchanges such as the
Asian session and the European session and the American session

An example of this is :

If we opened the 15 minute chart (each candle represents 15 minutes of time) we will find two adjacent candles and the time difference between them 60 minutes

It is clear to us from the above errors that the company is working on the system
Dealing Disk and not the No Dealing Disk and does not apply what was agreed in the contracts with the client and this is a defect in the terms of the contract

I continued with the company when I discovered this incident happened on 13/03/2017 and sent them pictures and video clips online and after 11 days of procrastination and irrational speech I made a complaint in the complaints department of the company under # 00419732 on 25/03/2017 Three days later, the specialists in the department responded to the final complaint on 28/03/2017 and their response was that there are no problems and everything is correct
On 28/04/2017 I filed a complaint with the regulatory body subject to which the company (FCA)

On 03/05/2017, the final reply was received from the regulatory authority controlled by the company (FCA), stating that they did not find in the videos sent to them what the company owes

All the videos and attached pictures are all deals since the beginning of the discovery of the problem by pure coincidence and even send them the final reply, which deny any errors and errors still exist and this indicates that these errors exist since the beginning of dealing with the company and therefore I demand the company all material rights And moral

I ask what I get from FXCM :
1 - All my deposits with the company since the beginning of opening my account
2 - Full benefits of the amount
3 - Compensation for the time lost without any benefit
4 - Substitute moral compensation because of the psychological and material stress suffered due to successive losses that the company deliberately caused it with me

Attached is this video links links that prove my words :

https://www.youtube.com/playlist?list=PLur6FxGhITCYi0V90lPY8Yn-7580DmI3u

All thanks to you
  1 trader has found this review helpful
Reply by Jason Rogers submitted Jun 22, 2017:
Hello Ahmed,

While we understand you are not satisfied with the outcome of your audit, please understand that we are unable to discuss any client account information due to our privacy policy. In the event you are not satisfied with the outcome of your audit, you are able to escalate the audit to our regulators which I see you have done.

FXCM strives to build strong, long-lasting relationships with our clients, and we take all trade inquiries very seriously. Clients can file a trade inquiry at any time to have trades reviewed https://www.fxcm.com/uk/forms/trade-inquiry/ . We have a dedicated team of professionals that are trained to research and resolve trade inquiries. If there's ever an error in our trade execution or an error caused by a technical issue on our part, FXCM will make the appropriate correction to your account.

The satisfaction of our clients is very important to us. The fact that our team takes so much time from tech support, through trade audit investigation, and participation on the forum is evidence of this. We would not have become a leading global forex and CFD broker with over 128,000 active accounts as of May 2017 without providing quality execution in a fair and transparent trading environment.

We do wish you all the best with your future trading.
samir,
bruxelles, Belgium,
May 14, 2017,
Guest

NEVER TRADE WITH THEM ! They will ROB you too

i finaly know why my stoploss always get hit by night ,,, i checked other brokers charts and it's clear that the US financial authority Stoped FXCM from working in US for a goooood reason !!! because FXCM is a FRAUD and a Big Scam
  1 trader has found this review helpful
Reply by Jason Rogers submitted May 18, 2017:
Hello Samir,

We take trade disputes very seriously. If you believe there has been an error with the execution of a trade I would encourage you to submit a trade inquiry https://www.fxcm.com/uk/forms/trade-inquiry/ . We have a team dedicated to reviewing the elements specific to your query. If an error is found on our side, our team will take every effort to find a fair and equitable solution. Your satisfaction is very important to us.
Mnada,
Netherlands,
May 10, 2017,
Guest

FXCM Fraud!!

I have been scammed under the name of FXCM through a guy who represented himself as their representative and forged a contract with a my fake signature that illegally authorised FXCM to over charge me commission. Although I provided them with proofs and the acknowledge that they almost 70k worth of commission has been transfered to this guy. They still refuse to pay me back the commission! Absolute Fraud !
  1 trader has found this review helpful
Graceyo,
Manila, Philippines,
May 10, 2017,
Guest

No micro accounts. Approval is such a pain to gain for small traders

I have initially applied to open an account. Feel uncomfortable declaring my worth online as it was my first option to trade after some workshops. They will reject applications when declared low trading less than $100 usd. lol
  1 trader has found this review helpful
Reply by Jason Rogers submitted May 18, 2017:
Hello Graceyo,

I am sorry to hear that we were unable to accept your account application. FXCM is required to conduct due diligence on each client when opening an account in accordance with regulations. If all details cannot be confirmed then we will be unable to open the account. FXCM does not accept or reject accounts based on client trading volume. The minimum trade size available with FXCM is a micro lot size of 1k and the minimum deposit required to open a live mini account is £50 or $50 depending on your account currency denomination. We have to take the necessary steps to protect clients and ensure our account opening procedure is in accordance with regulatory requirements.
United Kingdom,
May 8, 2017,
Registered user

I fell to the same trap as JVC described in detail below and many other reviewers as well. I had opened an UK FXCM account in 2012 and funded with 100£, but the account was not LIVE, because was not verified by me (I did not send the proof of the documents ID, etc..), so I wasn't able to use it. I left the money in the account. In 2017 I decided to check my account and place with a new fund, to my surprise my account has been wiped away and my money has been Stolen!!! They Steal as they Can!!!
  1 trader has found this review helpful
Reply by Jason Rogers submitted May 11, 2017:
Hi interzeptor,

If there has been no activity in the account for more than 1 year an inactivity fee may be charged as outlined in the trading agreement. Clients are emailed in advance of the inactivity fee being charged for you to either withdraw the funds or continue trading. If you have any additional questions, our customer support team is available 24 hours a day to help.
Manama, Bahrain,
Apr 20, 2017,
Registered user

Excelent

Its 8 years since I first opened an account with FXCM. Excellent services in quires replies, withdrawals and homepage contents. Excellent 24/5 chat, you always get someone with knowledge helping you. I give them 5 stars and I am convinced with it.
 
Reply by Jason Rogers submitted Apr 28, 2017:
Thank you for trading with FXCM Husain. We appreciate your business!
Daniel,
Montteal, Canada,
Apr 1, 2017,
Guest

Loser you are.

I believe that FOREX trading is a nightmare... I have been reading about almost all the #1 rated FOREX trading platforms and they all suck... When money is involved in any type of business, you are intitled to getting your money stolen if you dont have first hand on your accountband with FORESX trading you are at the mercy of individuals you dont know... and the only res^ponse you will get is that FOREX trading is high risk and you are the loser.
 
JVC,
California, USA,
Mar 13, 2017,
Guest

FXCM Stole my Money

I had an account with FXCM in the past, I wanted to withdraw all of my funds in the account at the time, but I was told by Jason Rogers that I had to leave $50 so as to keep my account open just in case I changed my mind and want to come back with FXCM in the future. So I left $50 in the account. Today I decided I will put some money into my FXCM forex account. I logged in to FXCM back office and successfully did. To my surprise the balance shows $0.00, my $50.00 gone. My account stayed open alright, but my money was stolen by FXCM. Jason Rogers please respond.
  1 trader has found this review helpful
Reply by Jason Rogers submitted Mar 30, 2017:
Hi JVC,

In order for an account to remain active, there must be funds in the account. However, you should bear in mind if there has been no activity in the account for more than 1 year an inactivity fee may be charged as outlined in the trading agreement. Clients are emailed in advance of the inactivity fee being charged for you to either withdraw the funds or continue trading. If you have any additional questions, our customer support team is available 24 hours a day to help.

Jason

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.