FXCM is an online tool that deals in forex trading and exchange with the aim of making online trading easy and convenient for common people. You can start with a practice account that allows you to get familiar with forex trading without spending any money. With FXCM, you get access to a common platform with thousands of traders from several countries to trade with. The product works on MetaTrader 4 and other online trading platforms.
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Top FXCM Alternatives and Overview
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FXCM Review and Overview
FXCM is a reliable and renowned Financial Trading platform and a retail broker to trade in the FOREX market. FXCM started in 1999 in New York, and was one the pioneers in the e-trade for FOREX, and went by the name Shalish Capital Market. Since 2018, FXCM is the leading FOREX trading platform.
They carry out CFD trade, Spread Betting, Active traders, Professional Clients, and Institutions. There are several more trading platforms in FXCM. The leading trading platforms are trading stations, MetaTrader 4, NinjaTrader, ZuluTrade, and TradingView. Apart from these main five, FXCM has more trading platforms. The cost of spread in the CFD trades are quite low. It has leverage of 30:1 and 2:1. Users can use the interface to trade either FOREX, Indices, or any other commodities. CFD traders do not need even the stamp duties.
Spread Betting is useful for UK and Ireland users to reduce the asset-buying costs. Spread betting is tax-free, has better leverage, and flexible as per the market rise or fall. Active Trader is used for professional and advanced level traders. It has better-dedicated support, elite pricing, API trading, better trade ideas, market depth reach, and many custom solutions. Active traders get about 62.4% discounts over the entire value.
FXCM also offers Professional Client service. They can also work with higher leverages compared to standards set by FCA. It also offers risk warning against suspected bad investments. The criteria are that the financial portfolio must exceed $500k. FXCM Pro is the institutionalized arm. It provides prime brokerage services, centralized clearing, single NOP allocation, better wholesome trade, connectivity features, and Prime CFDs.
The main areas for the trade market are Forex, Forex Baskets, Indices, Commodities, Crypto, and CyptoMajor. It also supports significant currencies like EUR, USD, gold trading, crude oil, and Bitcoin. The three main trading details are spread costs, leverage, margins, and execution. Apart from above, FXCM has 39 currency pairs, 14 CFDs, ten commodities, and 5 Cryptos. They have kept the leverage levels fixed in the trading. FXCM also uses Zulu Trade for social trading services. FXCM also offers a knowledge database, market insights, and client support along with all the trading support, thereby becoming a proper FOREX trading platform.
Company Name: FXCM, Inc
Company Address: 55 Water Street, 50th Floor, New York, New York, USA
Founded in: 1999
- Automated Trading
- Competitive Spreads