After adding the round-turn commission equivalent of 0. They also have fractional pip pricing. Would you like to be contacted to receive more information about opening a trading account? A new deposit method to fund your trading account with AMarkets.
FXCM Basic Details
FXCM also provides several managed account options. They also have DailyFX, a world-class news site as well as three forex trading courses for traders of all levels.
They have their proprietary trading software, FX Trading Station as well as Metatrader 4 for clients who prefer it. FXCM also allows clients to trade from the charts. FXCM provides several forex trading courses.
In addition they have daily forex webinars on a variety of topics from Range Trading to Building a Trading Portfolio. Inside of their news site, DailyFX, they also have various educational materials. Spreads at FXCM are variable and change based on market liquidity as well as the currency pair.
They also have fractional pip pricing. Spreads are as low as 1 pip. Forex Capital Markets has several forex trading charts available for all clients and offer the ability to trade directly from charts with their Marketscope charting package which has had great improvement in the last year.
FXCM Holdings LLC includes firms registered and regulated in seven international jurisdictions, which all have separate and stringent financial requirements:. The Trading Station desktop platform allows its various panels to float freely within the main platform window, similar to other trading platforms, including desktop versions from Saxo Bank and FOREX.
While this advanced charting program is packed with tons of features, it may be too complex for less experienced traders. That said, technical analysis enthusiasts will find MarketScope has a premium feel without the price tag that accompanies paid charting subscriptions. The platform also has a market replay and analyzer tool alongside over indicators. The FXCM App store provides various add-ons, technical indicators, and automated trading robots for its Trading Station, MetaTrader 4, and NinjaTrader platforms, as well as access to third-party products and platforms such as the Seer Trading Platform for algorithmic trading.
Lastly, FXCM also offers ZuluTrade, a social copy-trading platform where users can follow other traders and automatically copy their trades in real-time. To learn more about MT4, read our guide to MetaTrader. Charting comes with nearly 60 indicators and multiple drawing tools.
Trend-lines can be drawn with precision thanks to a magnifying glass that auto zooms while dragging the trend-line into position. Aiding the navigation of the mobile app is a row of tabs on the bottom and top of the app. These rows let users slide left or right to see additional tabs from either the top or bottom row.
Tapping on any of the tabs in these rows will switch to the related view on the main screen. In addition, swiping left or right on the main screen will also switch between the next adjacent tabs, making it easy to scroll between screens. One shortcoming of the mobile app was the lack of any apparent watch list, which could be a useful feature and ideally one that would sync with the watch list used on the web and desktop versions of the FXCM Trading Station.
That said, the broker still provides a robust mobile experience overall and finished 11th out of 43 forex brokers in our Review. While FXCM did not launch cryptocurrency trading in , it has compiled an extensive overview of the new asset class, providing educational content for users, which suggests FXCM could make a move into the space before the end of There is also a dedicated technical support team to assist traders in developing their MetaTrader4 Expert Advisors EAs.
The team will even help code strategies for clients for a nominal fee. FXCM is a great choice for those seeking to use automated trading strategies as all of its platforms offer traders the ability to run algorithmic trading and access advanced charting tools.
In terms of pricing, FXCM would not be my choice for a mini account, as spreads are wider and the number of tradeable pairs are lower, compared to its other accounts. Meanwhile, traders on a tighter budget should utilize the Standard Account offering which features the same spreads with a slightly higher commission rate. That said, its reduction of total CFDs available from to just 18 restricts its product range offering as a multi-asset broker.
For our Forex Broker Review we assessed, rated, and ranked 43 international forex brokers. Each FX broker was graded on variables. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level.
Over the past 19 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative. These pairs had spreads as low as 1. For example, when we compared the average spreads we sampled from FxPro we found the company beat FXCM by only a fraction of a pip, offering a 0. This is fractionally better than the Level 5 tier pricing of forex. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company.
You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
Likes Trading Station platform comes loaded with algorithmic trading tools The FXCM App store offers multiple third-party platforms Trading Station mobile app is user-friendly Regulated in several major financial jurisdictions.
Dislikes Less tradeable instruments in mini accounts compared to other account types offered Discontinued offering CFDs trading on single shares No longer accepts US clients after losing US regulatory license.