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.

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

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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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2.494 · 581 REVIEWS
Forex Peace Army

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

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Traders Reviews

cape town,
Jun 8, 2008,

so far so good.havent had issues with them todate-pay out prompltly-news time spread widen but quickly come back to normal.
hope theyd add oil and gold to there bouquet of currencies so as not to have to trade on 2 platforms-
Alex Findlay,
, USA,
Oct 25, 2015,

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
Utah, USA,
Oct 1, 2016,
Registered user

Rock Solid

I still have an account with FXCM after many years. Our money is surely safe in my opinion. You can also withdraw and deposit money on time with them. There is always a scandal in Forex but FXCM has been around for years and will continue to stay strong.
Jan 27, 2011,

I have a Standard account with them, which I opened a few weeks agon, so far they seem good. All my entries and stops were executed and they have good customer support. The only downside is that if you have a Micro account than you have to wait over 2 weeks to get your check. Other than that I have beed doing very well with them and I am pleased. They seem a lot better than some of the other Brokers I came across, AND they accept US citizens which is a plus!
Sri Lanka,
Aug 12, 2016,
Registered user

FXCM is a good FX Broekr

FXCM is another good company. they have been leasers in the FX industry an their track record speaks for itself.
S Baker,
Jun 27, 2008,

Well I started with a demo account and all went fantastic so I decided to put a bit of my own cash in which was just 6 weeks ago and in that time I have made over 200% equity on my initial investment. Winning and losing is all about the investor, you need to do adequate research and look at all the information available to you, otherwise you are just gambling and may as well go to the book makers and throw your money away on a horse. Most peoples problems are the fact that they are not learning from their mistakes.
Sep 22, 2009,

I am very surprised at the negative comments about this broker. I had opened an account on recommendation from a friend and find it excellent. They had slow servers but now everything is OK - no problem in executing trades - I sometimes close trades at short duration. I think the problem in excecution experienced by others is due to software conflicts. Try to keep as few software programmes running as possible when trading. It should solve your problems.
Daniel F,
Auckland, New Zealand,
Apr 20, 2009,

Having read most of the small timer reviews of this firm I once again feel compelled to write a couple of words to shed light on the possible mistakes being made by the majority of people posting negative reviews. For anyone visiting this site trying to gain a real insight into how these retail forex firms operate, I urge you to weed out the majority of negative comments as they mainly represent the 95% of loosing traders out there. A simple yet harsh fact many fail to take into consideration when they set off to generate millions in profit with their $500 self-funded account.

Majority of my trades are placed through CMC Markets (another excellent forex borker) however in these times of uncertainty keeping your eggs in one basket just isn't acceptable, hence why i opened a micro account with FXCM.

Platform: FXCM has come a long way in terms of platform stability over the past few years. I remember evaluating their software close to a year ago which to my disappointment wasn't satisfactory enough. Too many dropped connections, unable to shut down the program, RAM intensive etc.

Their current platform (ver. 01.04.031309) is a different story. To date it has performed very well and without a fault. It uses far less RAM than CMC
Adam Richardson,
NSW, Australia,
Jul 1, 2012,

*scratches head*
everyone complaining is talking about getting margin called, so these guys are not trading with stops. If there were comments that said "25% of my trades are getting closed out 5pips further than I placed my stop", i would be concerned. But all I am hearing is "Im not using stops and getting margin called". What a shocker!
Slippage is a part of trading, if this is causing you to loose money then learn how to trade properly. I use 20-40 pip stops and if i get stopped out with slippage i deserve it. Slippage has never been a problem for me. Ive been with FXCM for 2 years.
Customer service AAAAAAA+++++++++
Money transactions AAAAAAA+++++++++
I must be one of the preffered clients, Ha!
Sarasota, Florida, USA,
Sep 21, 2007,

First of all, I do not work for FXCM or anyone else for that matter as I'm retired. I do not own stock in FXCM. In fact, I dont know if its a private or public company. Frankly, I dont care. What I would like to do is give it a fair evaluation based on what they provide for, in relation to what you pay. I think that for the cost of lunch for two, it's a great deal. Having worked in business for over 30 years, I'm sure they actually lose money on it since they limit their classes to something like 20 students at a time, and they have analysts monitor and ANSWER all of your questions while you take the course. Why do they do this you ask? They hope that after you take the course, you may actually open an account with them. For FXCM, its an investment. I took their 7 day course last winter. I went on and spent literally THOUSANDS more. All in all the best $20 bucks I have spent. Keep things in perspective when you rate something. Are you rating a $100 to $300 signal service? or a course anywhere from $300 to $5000? Rate accordingly.

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.