Our FXCM Review
FXCM Review:ย Is FXCM a Reliable Forex Broker?
FXCM (Forex Capital Market) is an international forex broker based in London that also offers CDFs. The forex brokerage company was founded in 1999 and has two shareholders: Global Brokerage and Jefferies Financial Group. FXCM is known to be safe since it is regulated by superior financial institutions such as UK FCA and the Australia ASIC. In this article, we give you a detailed review of FXCM and help you understand how it works.
FXCM Platform
FXCM features a robust platform that supports all kinds of trading formats and account levels. Additionally, it comes with a steady educational portal that concentrates on semi-skilled customers. However, the research portal is less comprehensive, doesnโt have webinars, necessary analyst study, and videos. Bottom line trading expenses are hard to evaluate from website documentation. That generates transparency issues for active trader and standard accounts. The shortage of comprehensive disclosure will benefit from several real-world illustrations and detailed side-by-side cost evaluation.
How safe is FXCM?
The forex broker is licensed and regulated by the Financial Conduct Authority (FCA). Regulated and supervised brokers wonโt influence market prices. Once you submit your withdrawal request to FXCM, they will honor it. It insures a customer against default through FSCS (Financial Service Compensation Scheme). FXCM doesnโt provide any extra fortification through a private coverage firm.
Desktop experience
Customers can open CFD, Forex, and spread their trades using the broker’s homegrown trading station or MetaTrader 4. Nevertheless, the majority of high-end items attract subscription gee or are not allowed in the active trader account. Recently, its trading station web system migrated from Adobe flash to HTML 5. So, this added a layer of safety that lacked in the Adobe flash.
Mobile app
Trading stations for android, web, and iOS are more intuitive and diverse than MetaTrader 4 mobile apps, available as a substitute. Customers can access a wide variety of technical pointers and cutting-edge order types. However, two hitches undermine the functionality of the app. It doesnโt offer second step verification. Another drawback is that the push signals for android arenโt enabled and real-time notifications.
Research
The research portal has a basic set of trading tools like financial calendar, diurnal technical levels, and third party market apprises. But, the gravity of innovative and standard fundamental analysis is below the usual, with fewer macro and internal market resources. The research section doesnโt offer videos or webinars.
Education
The learning portal offers an extensive forex education and board tutorials. Customers can register for live courses or listen to the previous recordings. There is a separate video collection that focuses on platform tutorials instead of technical and fundamental education. Customers can essential trading guides via email or signing up for option marketing list. The section doesn’t offer CFD training.
Commission and fees
Even though the recorded spreads commissions are average to competitive, they donโt have the side-by-side comparison. So, real-world examples bring confusion about bottom-line expenses. The website records spread but the trades and break out made during the off-market hours won’t incur high costs. That lack of predictability can daunt many potential customers. However, FXCM issues recurrently updated negative and positive slippage statistics to re-establish trust.
Customer support
The forex broker offers industry-standard phone and lives chat coverage 24/7, with an extensive collection of toll-free phone numbers and a direct line to the trading desk.
Exceptional features
An excellent trader program offers cost-effective and snugger spreads, market complexity, and other dynamic features that encompass four free APIs. FXCM offers VPS hosting, where lower-end accounts are required to pay $30 per month.
Pros
- Its trading platform is loaded with great algorithmic trading tools
- The FXCM app store provides several third-party platforms
- Has a user-friendly mobile app
- Features third-party domain platform and Algo trading APIs
- Social or copy trading systems
- Homegrown and MetaTrader trading station
- Regulated by many top-tier financial jurisdictions
Cons
- Doesnโt accept US customer after they lost the US regulatory license
- Stopped providing CDFs services on single shares
- Has a weak coverage of CDF
- Doesnโt have share coverage
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.
Not so good not so bad, average for day trading. Hopefully they will improve more!
My account is still locked since my first deposit, nobody replies my emails, I want my money back
good broker
The broker i most trusted.
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
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.
So far so good broker
bad customer service, can be way better
Please search fx222.vip it’s real or fake platform of fxcm