fxcm broker review-Guide

When we talk about the world of forex trading, one name that frequently comes up is FXCM. Established in 1999, FXCM, or Forex Capital Markets, has carved its path as a noteworthy broker in the online trading ecosystem.

As fellow traders, we often find ourselves wondering what truly sets this broker apart. Let's take a journey together through FXCM's history, explore its trading features, markets, account types, regulations, rank in the market, and weigh the pros and cons of using FXCM as our trading partner.

The History of FXCM

FXCM was founded in 1999 in New York City, immediately becoming a pioneer in the forex trading space. What started as a small brokerage quickly transformed into one of the leading online forex trading platforms.

The company traded on the New York Stock Exchange under the ticker symbol FXCM until 2017 when it transitioned to private ownership after facing some significant regulatory challenges.

Over the years, FXCM has expanded its reach internationally, opening offices in major financial hubs like London, Hong Kong, and Sydney.

This expansion has allowed FXCM to serve a diverse clientele, providing trading services to over 175,000 clients across the globe.

What is FXCM Broker in Forex?

FXCM is a retail forex broker that offers a platform for individuals and institutions to trade currencies. FXCM's philosophy emphasizes transparency and simplicity, aiming to empower traders of all levels with the tools and knowledge they need.

As a trader, we find value in their commitment to education, offering a multitude of resources that cater to both novice and experienced traders alike.

Some distinguishing features that we appreciate about FXCM include:

No Dealing Desk: This means FXCM doesn't act as a middleman, allowing us to trade directly in the market.

Variety of Trading Platforms: FXCM offers multiple platforms including Trading Station, MetaTrader 4, and NinjaTrader, giving us flexibility based on our trading preferences.

Wide Range of Instruments: With FXCM, we can access not only forex pairs but also commodities, indices, and cryptocurrencies.

FXCM Trading Features

One of the highlights of FXCM is its user-friendly trading features. Here are some of the standout features that we love:

1. Advanced Trading Tools

FXCM provides a suite of advanced charts and analytical tools that help us make informed decisions.

2. Social Trading

The broker supports social trading through ZuluTrade and Trading Station Social, allowing us to learn from and copy successful traders.

3. Educational Resources

FXCM hosts webinars, trading guides, and in-depth market analysis, equipping us with the skills needed for successful trading.

4. Mobile Trading

Their well-designed mobile applications allow us to trade on the go, ensuring that we never miss out on a market opportunity.

What Markets Does FXCM Support?

FXCM offers a broad spectrum of markets that we can dive into. Some of the main markets available to us include:

Types of Accounts in FXCM

FXCM caters to a variety of trading styles and preferences, offering different account types:

1. Standard Account

Ideal for new traders, this account offers zero commissions and competitive spreads.

2. Active Trader Account

For experienced traders who trade in higher volumes, this account features low spreads, reduced commissions, and personal account management.

3. Trading Station Account

A specialized version for users of FXCM’s proprietary trading platform, this account provides access to advanced trading tools and features.

Confirming Regulations

When considering a broker, we understand the importance of regulation. FXCM is regulated in several jurisdictions, including:

Being regulated by these authoritative bodies reassures us that FXCM adheres to stringent industry standards, protecting our investments.

FXCM Broker Rank in Market

FXCM has consistently been recognized for its reliability and performance in the forex market. With a loyal customer base and a strong reputation, it frequently ranks among the top brokers globally.

As of October 2023, it continues to attract attention for its innovative trading features and customer service.

Pros and Cons of FXCM Broker

Like any broker, FXCM has its pros and cons. Here’s a quick summary that we can all benefit from:

Pros

Regulated and Reliable: Robust regulation reassures us about the safety of our funds.

Education and Resources: A wealth of educational materials and trading tools available.

Diverse Trading Platforms: Access to multiple trading platforms catering to different trading styles.

Wide Range of Markets: Opportunities to diversify our trading portfolio across various asset classes.

Cons

Limited Product Offering Outside Forex: Although they offer commodities and cryptocurrencies, FXCM is primarily known for forex.

Fees for Inactivity: An inactivity fee may apply if we don't trade for a specified period.

Not Available in Some Countries: Regulatory restrictions may prevent access in certain regions.

FAQs

Q1: Is FXCM a good broker for beginners? 

A: Yes, FXCM offers excellent educational resources and user-friendly platforms that make it suitable for beginners.

Q2: Can I trade cryptocurrencies on FXCM? 

A: Absolutely! FXCM provides access to several popular cryptocurrencies.

Q3: What trading platforms does FXCM offer? 

A: FXCM offers its proprietary Trading Station, as well as popular platforms like MetaTrader 4 and NinjaTrader.

In conclusion, as fellow traders, we can view FXCM as a robust option in the world of forex trading. Its history, trading features, diverse markets, and solid regulatory standing position it as a prominent player worth considering.

Just like any trading decision we make, it's vital to weigh the pros and cons before diving in. Happy trading!