FXCM Review 2024 Key Features, Pros, and Cons

Traders can diversify their trading strategies with ZuluTrade by accessing various signal providers catering to different trading styles and preferences. FXCM does not provide spread betting to Malaysian clients, only to those in the United Kingdom. Therefore, the following is purely for informational purposes as part of FXCM’s overall offer. FXCM’s approach to Islamic accounts involves adjusting spreads or commissions instead of involving interest. The adjustment, referred to as a “surcharge,” is implemented in place of interest payments.

Instead, you will trade with 50,000 virtual units of the relevant currency. It offers end-to-end execution and liquidity solutions for retail brokers, hedge funds and emerging market banks. The good news for all other account holders is that there is inevitable ‘trickle down’ that comes from FXCM being one of the ‘big guys’.

• From managing your daily trades to building complex automated systems, with Capitalise.ai you can automate your own trading with zero code.
• The broker also rejects cheques and funds transferred from exchange houses.
• It is important to note that spread betting profits are not subject to taxation, which is a distinct advantage.
• FXCM offers a free demo account for traders to practice trading in a risk-free environment.

FXCM Available Assets

The latest version of NinjaTrader features include complex trading tools so that you can conduct in-depth market analysis of all your favourite instruments. It offers an intuitive interface with real-time quotes, charts, and professional analytics. It is also not as widely available compared to MT4 which is something to consider if you plan on switching brokers down the line.

Markets

More information is found here – where FXCM have published a video tutorial of how to move funds. This link takes you to the area where you can register for a demo account. The desktop version takes moments to set up but there are a few possible pitfalls to look out for when setting up a Demo account for mobile trading. Payment method type will influence processing times, but debit and credit card deposits are the fastest. The newsletters include 5-6 trading ideas to inform users, based on technical chart analysis. The number of markets in the Demo account is only 19 “rates” but all asset classes are covered, so it is possible to trade from Bitcoin through to the Nasdaq.

Great customer support

While minimum balance requirements could incentivize some traders to utilize the educational resources, I think it’s better to make the content free for all clients. Motivation can instead be inspired by creating interactive courses that feature quizzes and incorporate progress tracking. It’s worth mentioning that your trading account balance must meet a threshold to access certain educational content. FXCM provides a respectable variety of market research from a combination of in-house content and third-party materials. Overall, FXCM’s research is a touch above the industry average and will satisfy most forex traders, though it’s not as rich or diverse as what’s offered by the best brokers in this category. The range of products available to you will depend on which global entity under the FXCM Group houses your trading account.

Accounts with FXCM are also segregated in accordance with client money rules, providing added protection for client funds. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers.

I prefer the desktop platform as it has the most functionality and supports automated trading. I think MT4 is an excellent choice of platform for anyone who wants to develop their own trading strategies for both manual and automated trading. It is very easy to use with a fully customisable user interface that makes trading online a breeze. Keep in mind, when you trade on FXCM’s MT4 platform, the execution, trading features, and settings may vary from that of the flagship Trading Station platform.

• With over 60 brokers reviewed, our editorial team has published thousands of words of research to help our readers make informed choices.
• There is also a rebate program that allows cash rebates depending on the volume you trade, which is a perk for active traders.
• Average spreads at FXCM are more favorable for active traders or clients residing in the EU, U.K., or Australia.
• Setting up an account with FXCM is to be recommended as it is an opportunity to keep up with a broker offering the latest features in a particularly user-friendly way.
• Trading signals are actionable trade ideas that may be readily applied to the open market.
• He has a Masters and Commerce degree and has an active role in the fintech community.

FXCM is a very well-regulated global Forex broker with a large client base and a big reputation to maintain. All trading platforms fully support algorithmic trading, and FXCM provides four free APIs to developers on top of a wide selection of third-party plugins. The research section offers a tremendous asset to all traders and warrants an account opening to retrieve free access to it.

This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.

MetaTrader 4’s reputation and reliability make it a sound choice for all traders. When it comes to forex trading, compliance and regulation are of utmost importance. These regulatory bodies enforce strict financial standards on FXCM, including capital adequacy requirements, and have the right to fine firms and terminate their regulatory status for violations.

Malaysian traders looking for all-in-one trading solutions will appreciate TradingView Pro, which integrates live trading with FXCM. TradingView is a social network for traders that offers real-time quotes, stock charts, and expert trading recommendations. With integrated indicators, real-time asset quotes, and fxcm canada review Expert Advisors for automated strategies, MetaTrader 4 (MT4) provides Malaysian traders with a comprehensive trading experience.

What platforms does FXCM offer?

With FXCM’s Market Scanner, you get a quick way to screen Forex and CFDs using the technical parameters you like best. The market scanner will then give you the five strongest signals based on your preferences. I found this tool to be a really way to find trade ideas which can be helpful if you need some inspiration. This easy-to-use charting package is designed for both technical and algorithmic traders.

We have over 20 years of experience when it comes to trading online so we know what to look for. The number of tradable assets available is quite limited when compared to other brokers who offer thousands of assets, such as IG. I also found them not to have the lowest spreads which may be an issue if you are scalping. Geo-political events as well as many other macroeconomic factors influence price action and create volatility. You can sign up to receive SMS Trade Alerts (powered by the brilliant Autochartist) to help you spot potential trading opportunities.

How to open an Affiliate Account with FXCM

In addition to a YouTube channel and a complete library of trading videos, you can get a better idea of FXCM’s offerings from a tutorial video situated on its website. But finding a good Forex broker can be difficult because there are so many to choose from. If you want to find information on Forex brokers, read along to determine if FXCM is the right Forex broker for you. This is the fastest way to fund credit accounts as deposits are instant. Yes, FXCM is regulated by several financial authorities, including the FCA in the UK, ASIC in Australia, the CySEC in Europe, and the FSCA in South Africa. It is regulated by multiple tier-one financial authorities, including the FCA and ASIC, which adds credibility and oversight to its operations.

Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University. Our research led us to highly recommend FXCM for those interested in forex and CFD trading due to its advanced platform offerings and favorable overall experience. It is especially suited for investors interested in algorithmic trading. FXCM does not provide services to residents of USA, Ukraine, Turkey, Russia, Iran and some other countries. If you find that they cannot accept clients from your country for whatever reason, please feel free to peruse our broker reviews for an alternative option.

Here is a screenshot of the FXCM Trading Station platform during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.