The FXCM company existed since 1999. This broker is widely popular not only in Europe but also in Canada, Asia, and CIS. During the long history of work, it is hard to doubt in the transparency of all provided services. Along with this company potential traders and investors get access to the independent financial markets.
Apart from base trading and access to the range of investment instruments, the clients of the company can pass a distance course of study on Forex topic. The broker has created the partner platform for this purpose DailyFX.com., where free study materials, prognosis, and analytical data are presented. The Central office of the company is registered on the following address: 20 GreshamStreet, 4th Floor, London. The legal name of the company is — ForexCapitalMarketsLimited. The Advantage is the regulation of the financial group by international regulators. Among them and AFSL with the number of license 309763 and FinancialSectorConductAuthority with the number of license 46534. The group of companies FXCM includes in some legal entities and all of them are registered in different parts of the world, providing the services to the people of full age.
Types of accounts at FXCM broker
What kinds of accounts you can open with the company:
- Standard account with minimum deposit from $2000
- Micro-account with the minimum deposit from $50
- The type of account ACTIVE TRADER
To open an account you have to pass a procedure of basic registration on the site. Please note that not all countries can become FXCM customers. For example, citizens of the United States of America, India, Ukraine and a number of other countries cannot be verified on the site.
On the registration page, the user has to enter the following data: contact information, address of residence, citizenship and passport data. Verification of the entered data is carried out quite quickly, so users will not have problems with confirming data and entering their personal account.
How to trade with FXCM broker
The following categories of financial instruments for trading are available:
- Currency pairs (Forex);
- CDF on shares;
- CFD on recourses active assets;
- CFD on precious metals;
- Crypto currency;
The size of spreads at this fx broker does not exceed the average market values. For example, for the most popular currency pairs, the average commission is 2-3 pips. And the minimum transaction volume is 0.1 points for a standard account and 0.01 points for a micro account. Leverage level is 1: 400 or less.
Software for trading
Using the service of the broker company FXCM, several kinds of programs can be implemented. The traditional access to trading is possible through Metatrader4 (both desktop and web version). But for connoisseurs of something special you can use such a trading platform as NINJATRADER и TradingStation( a standard program in different variants). Thus, the Forex user can trade with the help of the mobile device and online with the help of a browser and with the desktop program.
The software has no limits for using instruments of prognosis and technical analysis. Broker FXCM allows both to use an automatically operated forex robot and connection of the automatic signal copying service.
Adding funds and withdrawal of money from deposit
Conducting a survey of FXCM, it is impossible not to mention about adding and withdrawal from the deposit. You can use all possible means for this: bank cards, electronic systems QIWI, Webmoney, PayPal, Skrill. The commission is not fixed by the forex broker. But additional funds can be charged as a commission of paying systems.
The users’ opinions about this company are primarily neutral. Also, you can meet especial positive feedback.
There are very few negative opinions.
Initially the financial group deal with investment, trading teaching and only then it was modified as Forex broker.
The technical support of this broker work actively, daily and without days off. You can contact with representatives with the help of online chat or e-mails. Managers can answer in different languages as the broker is multilingual.
Users have always the possibility to open a demo account and try their hand at international financial markets for free.
You can define as advantages a huge number of financial instruments (more than 120 at the choice of the user), loyal trading terms. The disadvantage is the impossibility to registration for people of a big range of countries (including the USA). Also in a standard account, the deposit is $2000, which is quite much for the newcomer traders.
After two years of trading on the FXCM platform I can honestly say that I am satisfied with my experience. I never had a problem with the execution and the platform seems quite stable. I have been able to easily withdraw and deposit money with no issues whatsoever. The few times I have been required to contact customer support were positive experiences.
I have been trading on the FXCM platform for almost a year now. Everything for the most part has been fine, except for the withdrawal process. It takes anywhere between two and five days to process, which I think is too slow for my taste. I hope the broker can improve this aspect of their platform.