Forex Broker Review of FXCM

4.69/5

FXCM, or Forex Capital Markets, is a UK-based broker offering forex and other trading opportunities. Established in 1990, it is owned by Jefferies Financial Group who have vast experience in investment banking and financial trade. They are considered to be the pioneers of online trading by introducing the idea in the market before its competition.

 

In our overall research of the forex broker we found FXCM is a standard forex broker with instruments including Forex, CFD’s and others as well, we decided to provide an overall score of 4.46/5

Authenticity Of FXCM

4.2/5

FXCM is viewed as generally safe, with its parent organization is traded on an open market, doesn’t work a bank. They are regulated by the following legislative bodies

In our research we found FXCM is a secure forex broker with regulations from different regulators across the globe. This provides safety and a secure image of trust for forex traders registering with the forex broker, we scored FXCM 4.5/5

Expense & Fees

4.7/5

FXCM’s evaluating is marginally higher than the business normal with regards to forex exchanging.

Standard account spreads

Utilizing the time-weighted normal tradable costs from April 1, 2020, to June 30, 2020, all-in spreads on the EUR/USD at FXCM was 1.4 pips, which is higher than the business normal (in spite of the fact that it is important that Q2 2020 saw greater instability because of the Coronavirus’ effect on business sectors).

Pricing discounts

FXCM’s Active Trader program has five levels, where brokers can get a discount going from $5 per million for level one to as much as $25 per million exchanged for level five. It’s acceptable, however not incredible. In examination, Tick mill and FP Markets offer more serious estimating for dynamic brokers. For instance, FXCM’s bonus based valuing has low basic spreads of 0.2 pips during top hours utilizing Q2 2020 information for the EUR/USD, yet the compelling spread is nearer to 1.1 pips in the wake of including what might be compared to $0.9 per small part.

In terms of expense & fees the forex broker is a bit high as compared to the regular standards and considering last year scores of spreads if another spike occurs of similar sorts this broker could lose a lot more than just a few traders here and there. The discounts themselves require such high amounts that it is better to look elsewhere than make up the numbers. Overall our team rates FXCM in this metric 3.8/5

Trading Platform

4.7/5

FXCM sets the bar high for its accessible stage and apparatuses and contends among the best agents in the business. FXCM completed Best in Class, Platforms and Tools, in our 2021 Review.

Platform options

FXCM’s foundation incorporate its restrictive Trading Station, MetaTrader4 (MT4), Trading View, and Ninja Trader 8, which all help algorithmic exchanging. FXCM additionally offers Zulu Trade for social duplicate exchanging and Trader Workstation (TWS), controlled by Interactive Brokers (IBKR) for stocks.

Algorithmic Trading

The FXCM App store gives different additional items, specialized markers, and robotized exchanging robots. FXCM upholds a wide exhibit of strength stages, including Quant Connect, Motive Wave, AlgoTerminal, Agenda Trader, Sierra Chart, NeuroShell Trader, StrategyQuant, Capitalize, and the Seer Trading Platform for algorithmic exchanging. There is additionally a devoted specialized help group to help merchants in building up their MT4 Expert Advisors (EAs).

Web Trader

Web Trader is responsive, adaptable, and simple to utilize. Graphs are fueled by Trading View and accompany almost 90 pointers and a huge swath of drawing instruments. It was not difficult to look across business sectors, from well-known watch lists to getting to incorporated exploration. A well-versed trading platform for more conventional users with great add-ons and simple designs, provides a much better experience as compared to others, such as FX Primus which can be read on our FX Primus Review section

The solitary admonition with Web Trader is setting up another workspace as gadgets should be physically organized. Beside that minor subtlety, the stage offers a decent assortment of highlights, including support for complex request types like OCOs and following stops. Watch lists sync with portable, and there is module connecting, so tapping on an image will refresh the current outline.

In terms of trading tools our team found FXCM in a much better state as compared to others. The trading platform is a great breath of fresh air, even though Meta Trader is used its incorporation with Social Trading platforms like Zulu really helps users stay on trades while looking at Copy Trading prospects as well. The overall user experience was a pleasant one and our team decided to score FXCM 4.7/5 here

Education

4.1/5

FXCM gives training principally as in-house articles and recordings, including content delivered on its YouTube Channel, which I discovered are better than expected regarding quality when contrasted with the business normal.

Video Format

General news and some workshop videos are provided on their Youtube channel along with some research graphs and trading tips. The video content is somewhat that can be approved considering the amount of work that they put in on other aspects in terms of trading. The overall education material value is a bit on the wrong end of the stick which if improved can generally highlight them as one of the major brokerage firms in the market

Written Material

There are basically two complete exchanging guide articles, including forex exchanging for fledglings and attributes of fruitful merchants. Both are all around referred to for certain extraordinary bits of knowledge utilizing the organization’s chronicled information. There are an extra 20 articles committed to outlining, 17 about pointers, 13 about exchanging tips, more than 70 articles in the novice segment, and 10 for cutting edge brokers.

Where they should be excelling but don’t seem to show much interest, FXCM provides the basics in terms of education material and in our researches other top forex brokers concentrate so much in terms of education and learning while FXCM does not even do half of that. Our teams were hoping to find some relevant content but found the basic standards that could be easily found with a little search on google. Here we scored the forex broker a disappointing 3.5/5

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Murid Hussain
Murid Hussain
6 months ago

FXCM has the best trading platform, not surprised they have good reviews for their trading services.

Syed Bilal Ali
Syed Bilal Ali
7 months ago

Worst experience ever, would not recommend this broker to anyone.

Wajahat Rauf
Wajahat Rauf
6 months ago

FXCM offers multiple options in trading platforms so everyone can choose what suits them best. I prefer their Trading Station platform, which works perfectly.

Mubashir Hussain
Mubashir Hussain
7 months ago

I have been using their Marketscope 2.0, it has all the tools, competitive spreads, fast execution, is easy to use, and includes a wide variety of different indicators that you might need.

Zia Hassan
Zia Hassan
7 months ago

Their discounts are useless; the requirements are too unrealistic.

Tooba Ali
Tooba Ali
3 months ago

They are very good in this industry, they provide what they show. Recommended.

Rashid Ashraf
Rashid Ashraf
3 months ago

FXCM offers the greatest trading platform, therefore it’s no wonder that their trading services are well-received. FXCM provides a variety of trading platforms, allowing customers to select the one that best meets their needs. I like their Trading Station platform, which is flawless.

Shehroz Ashraf
Shehroz Ashraf
3 months ago

Worst experience I’ve ever had; I would never recommend this broker to anyone. Their discounts are pointless, and their standards are ridiculous.

Sadaqat
Sadaqat
3 months ago

Terrible situation I’ve ever had; I would never suggest this broker to anybody else.

Dawood
Dawood
2 months ago

This broker really earned my trust and respect over time. Amazing work ethic and approach towards its customers.

Zameer
Zameer
3 months ago

The support of the broker is very good, trades execution is fast, the deposit is secure. very satisfied with FXCM

Fahad Ali
Fahad Ali
2 months ago

They are providing a really great service. I gain good profit in just a matter of few months. Thumbs up for this broker company.

Kalimullah
Kalimullah
2 months ago

Excellent trading platform and great overall trading experience. I have been using this broker service for quite some time and I am truly satisfied with the services. I started with zero trading knowledge but they’ve got educational materials. I have learned everything here from scratch.

Abdul Rahman
Abdul Rahman
2 months ago

Excellent trading signals. I am impressed with all of the market forecasts which are delivered with high accuracy. I never had to worry about my trades, they are always available to help.

Ahmed Ali
Ahmed Ali
2 months ago

I can see good trading profit in just a matter of weeks. I just started using their services and by far I am satisfied. Hoping for consistency.

Sajid Hussain
Sajid Hussain
2 months ago

I am an active trader for 9 months now, their service is one of my favorite. They have been nice to me and consistently give great forex advice that brings good profit to my trading account. Highly recommended trading broker.

Zulfiqar Samad
Zulfiqar Samad
2 months ago

Great services. They are always efficient. In fact, I get minimal losses and great profit from these broker signals.

Asif Jamal
Asif Jamal
2 months ago

Awesome trading instruments. They have so many options and let me trade with my minimum deposit. I am happy with what I am getting and I’m planning to trade a higher amount once I can.

Kaazhim Hussain
Kaazhim Hussain
1 month ago

The best customer service. They think outside the box, innovative and helpful. I had a great trading experience overall.

Parvaiz Khan
Parvaiz Khan
1 month ago

This broker is much advance when it comes to the platform and market news. I never encountered any problem with the services and I get real-time information about market opportunities. A good one to trade with.

Imaad Udeen
Imaad Udeen
1 month ago

Spot on broker signals. They are highly skilled and always come up with accurate technical and fundamental study. Been trading with them for a few years now and I always find the services impressive.

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