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FXCM Broker Review

FX Scouts By Jeffrey Cammack Updated: March 17, 2020
Overall Rating
4.12 / 5
Min. DepositGBP 50
Max. Leverage30:1
Min. SpreadVariable pips
RegulatorsFCA,ASIC,FSCA
Regulator Origin FCA ASIC FSCA
Broker TypeMarket Maker/STP

Summary

With accounts starting at just 50 USD, FCXM is not just excellent value, it also excels in platform choice, quality of educational material, and customer support. For traders looking for a big international brand with good regulation and Malaysian educational resources, FXCM is your choice in a broker.

FCXM doesn't run a normal bonus program, but any unused trading funds made will automatically earn 5% interest, an approach we have not seen before.

 

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Excellent
Bonuses $20 Welcome Bonus
Our Review Process

Trading Conditions

Minimum DepositGBP 50
Base currenciesUSD, GBP, EUR
Number of FX Pairs39
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD1.3
GBP / USD1.8
USD / JPY1.4

Company Details

Company nameFXCM UK
Founded2015
Website Visit Website
TypeMarket Maker/STP
RegulatorsFCA,ASIC,FSCA
Office locations South Africa, Australia, UK

Deposit & Withdrawal Methods

Supported Platforms for FXCM

Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 4.12 / 5 4.03 / 5 4.50 / 5
Minimum DepositGBP 50USD 100USD 200
Regulation
FCA FCA
ASIC ASIC
FSCA FSCA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
FCA FCA
ASIC ASIC
Broker TypeMarket Maker/STPMarket MakerECN/STP
Trading InstrumentsCryptocurrencies, Forex, Indicies, Metals, Equities, Bonds, WTIsCommodities, Cryptocurrencies, Forex, Indicies, Equities, ETFsCommodities, Cryptocurrencies, Forex, Indicies, Metals, Energies
Forex Pairs3950+80+
Crypto Pairs5185
Read Full Review Read Full Review
Trust Rating 5 / 5 4 / 5 5 / 5
Trading Conditions 4 / 5 4.5 / 5 4.5 / 5
Trading Platforms 4.5 / 5 4 / 5 5 / 5
Deposit & Withdrawal 3 / 5 4.5 / 5 4 / 5
Education & Research 4.5 / 5 3 / 5 4.5 / 5
Assets Available 4 / 5 4 / 5 4 / 5
Customer Service 3 / 5 4 / 5 4 / 5
% Lose with this broker 69.66% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider 73.6% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:1400:1500:1
SpreadVariable pips0.9 pips0.01 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Active Trader (Vip)
  • Standard (Mini)
  • Islamic
  • Professional (Standard)
  • Retail (Standard)
  • Razor (Standard)
  • Standard (Standard)
  • Swap-free
Swap-Free Accounts Yes Yes Yes
Trading Platforms MT4, NinjaTrader MT4 MT4, MT5, cTrader
Funding Methods Bank Transfer, Visa, Mastercard POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Neteller, BPay, POLi
Trading Commission From 6 USD / lot Fees Included in Spread From 7 USD / lot - Razor Account
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Overall Rating 4.12 / 5 4.03 / 5 4.50 / 5
Minimum DepositGBP 50USD 100USD 200
Regulation
FCA FCA
ASIC ASIC
FSCA FSCA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
FCA FCA
ASIC ASIC
Broker TypeMarket Maker/STPMarket MakerECN/STP
Trading InstrumentsCryptocurrencies, Forex, Indicies, Metals, Equities, Bonds, WTIsCommodities, Cryptocurrencies, Forex, Indicies, Equities, ETFsCommodities, Cryptocurrencies, Forex, Indicies, Metals, Energies
Forex Pairs3950+80+
Crypto Pairs5185
Read Full Review Read Full Review
Trust Rating 5 / 5 4 / 5 5 / 5
Trading Conditions 4 / 5 4.5 / 5 4.5 / 5
Trading Platforms 4.5 / 5 4 / 5 5 / 5
Deposit & Withdrawal 3 / 5 4.5 / 5 4 / 5
Education & Research 4.5 / 5 3 / 5 4.5 / 5
Assets Available 4 / 5 4 / 5 4 / 5
Customer Service 3 / 5 4 / 5 4 / 5
% Lose with this broker 69.66% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider 73.6% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:1400:1500:1
SpreadVariable pips0.9 pips0.01 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Active Trader (Vip)
  • Standard (Mini)
  • Islamic
  • Professional (Standard)
  • Retail (Standard)
  • Razor (Standard)
  • Standard (Standard)
  • Swap-free
Swap-Free Accounts Yes Yes Yes
Trading Platforms MT4, NinjaTrader MT4 MT4, MT5, cTrader
Funding Methods Bank Transfer, Visa, Mastercard POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Neteller, BPay, POLi
Trading Commission From 6 USD / lot Fees Included in Spread From 7 USD / lot - Razor Account

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.

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