Home » Broker Reviews » FXCM Forex Capital Markets LLC

FXCM Forex Capital Markets LLC

Company
Name of the Broker FXCM Forex Capital Markets LLC-
Broker
Accounts
Demo account link
Live account link
Ratings
Overall Rating 7-
Safety of funds 7-
Software ease of use 6-
Tools and resources 7-
Set-up process 7-
Customer support 7-
Timeliness of application 8-
Funding options 5-
General
Dealing desk/NDD NDD-
Minimum account size 25-
Max leverage 100:01-
Application processing time 1-2 Days-
Fixed spreads no-
Fractional pips yes-
Automated trading yes-
Offer options yes-
News and Charts
Free charts yes-
Free charts with broker feed yes-
Premium charts w/feed yes-
Trading off charts yes-
News yes-
Economic calendar yes-
Applications and Usability
Integrated charts yes-
Integrated news no-
Margin watcher yes-
Trailing stops yes-
Web based application yes-
Downloadable application yes-
MT4 available yes-
Training video available yes-
Usability of software (1=poor, 5=very good) no-
Courses and Webinars
Free training signals yes-
Webinars yes-
Beginner course yes-
Intermediate course yes-
Advanced course yes-
Help and Support
Phone Support 212 201 7300-
Live Chat Live Chat-
Email support Email Support-
Other Details
CFTC/NFA member yes-
FSA (London) yes-
Other (by whom) DMCC in Dubai, SFC in Hong Kong, ASIC in Australia, CECEI in France & CONSOB in Italy-
Segregated account available no-
Segregated account standard no-
Client funds held separate from operating funds yes-
Balance sheet available yes-
NFA member page -

FXCM Basic Details

FXCM is one of the world's largest forex brokers. They consistently have one of the highest net excess capital numbers of forex dealer members that are registered with the CFTC. They also have unparalleled 24/7 customer support in a variety of languages like Spanish, French, Arabic and Russian. They also have over 500 employees with offices in NY, London, Hong Kong, Plano and San Francisco, among others. Forex Capital Markets has a No Dealing Desk platform† with fractional pip pricing.  FXCM also provides several managed account options.They have also released micro lots where traders can open accounts with as little as $25. To open a live $25 currency trading account from Forex Capital Markets, just click here. They also have DailyFX, a world-class news site as well as three forex trading courses for traders of all levels. FXCM also provides several managed account options.

Most Popular Features at Forex Capital Markets

Beyond customer service, which has long been FXCM’s biggest selling point, they offer several managed funds programs, the ability to trade micro lots, very tight fractional pip pricing and free forex trading signals for live clients. They have their proprietary trading software, FX Trading Station as well as Metatrader 4 for clients who prefer it. FXCM also allows clients to trade from the charts.

Education Available at FXCM

FXCM provides several forex trading courses. At the most basic level is the FXCM powercourse, which is only $20. They also offer the Trading the Majors Course as well as a Day Trading Course which are free with larger deposits. In addition they have daily forex webinars on a variety of topics from Range Trading to Building a Trading Portfolio. Inside of their news site, DailyFX, they also have various educational materials.

Spreads

Spreads at FXCM are variable and change based on market liquidity as well as the currency pair. They also have fractional pip pricing. Spreads are as low as 1 pip.

Trading Tools

Forex Capital Markets has several forex trading charts available for all clients and offer the ability to trade directly from charts with their Marketscope charting package which has had great improvement in the last year. 

Regulation

FXCM Holdings LLC includes firms registered and regulated in seven international jurisdictions, which all have separate and stringent financial requirements:

  • United States: Commodity Futures Trading Commission (CFTC) and National Futures Association Member (NFA)
  • United Kingdom: Financial Services Association (FSA) - member ID, 217689
  • Dubai: Dubai Multi Commodities Centre (DMCC)
  • Hong Kong: Securities and Futures Commission (SFC) - CE #AIM232
  • Australia: Australian Securities and Investments Commission (ASIC)
  • France: Registered with the Comité des Établissements de crédit et des entreprises d’investissement (CECEI) as the branch of Forex Capital Markets Ltd.
  • Italy : Commissione Nazionale per le Societa e la Borsa (CONSOB)
†Please note FXCM Micro in its discretion may or may not offset individual transactions unlike transactions in most FXCM Standard accounts.
* Leverage is a double-edged sword, and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange with any level of leverage may not be suitable for all investors.
Risk Warning: Currency trading involves substantial risk of loss, read full disclosure.

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