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FXCM - Broker rating, review and comments

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FXCM
7
Rating:

Start year:2001
Country of origin:US
Regulation:NFA, CFTC, and FSA
Payment options:bank transfer, debit card, Neteller, Skrill, and Union Pay
Minimum account size:$50
Minimum lot size:0.01
Leverage:to 1:200
Spreads:from 0.5 pips

FXCM is an experienced financial services broker. The company was founded in 1999 and began to gain popularity rapidly. In 2002, the American broker set about promoting its services among European traders. FXCM has regional offices and branches practically in all of the world’s megacities such as Paris, London, Sydney, and Dubai.

Despite its successful history, the company is no longer popular. Nowadays, FXCM has poor ratings. For example, its official website does not have a Russian language version, while users from the CIS cannot be registered on the website.

The list of trading instruments is limited and gives users few trading options. The total number of assets are 55. They include 39 currency pairs, 12 types of a CFD, as well as precious metals and energy commodities.

Trading platforms
FXCM offers its clients trading on three different platforms. They are NinjaTrader, Trading Station, and MetaTrader 4, the world’s most popular platform.

Moreover, the company provides access to ZuluTrade, a social trading platform with the incorporated technology of copying deals. In order to work on ZuluTrade, a user needs to be registered and connected to this platform. All deals are managed directly on FXCM.

FXCM advantages and disadvantages
The advantages of the broker are the following:
  • license from the leading European regulators
  • high security of cooperation, all conditions apply to traders from the EU and the US
  • ZuluTrader services
  • own trading platform, access to the MT4 platform
  • 20 years of experience in the market


There are some significant disadvantages:
  • no access for users from Russia, Ukraine, and Belarus
  • no Russian version of the website as well as Russian customer support
  • limited choice of deposit and withdrawal options can scare away mature traders
  • despite positive reputation, clients reviews are highly controversial


Other information
The company provides customer support via telephone, email, and online chat. As a rule, managers answer all clients’ questions, though with a delay. 

The analytical section is completely in English. It contains an economic calendar, a regularly updated news feed, and technical analysis.

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