Added on September 16, 2011 02:07 PM
(4 / 5)
Spread: 0.7 Min. lot: 0.01 Execution: ECN,STP
Leverage: 1:400 Country: United States Regulated by: CFTC, NFA
Min. deposit: $50 Platforms: FXCM Trading Station, Metatrader, Active Trader (Currenex), Mirror Trader Payment methods: Bank Wire, Credit card, Paper Cheque
Headquarters: Financial Square 32 Old Slip, New York, NY 10005

FXCM is the leading and most renowned Forex brokers in the world today. Featuring the latest technologies, straight-forward processing, multiple trading platforms like the most popular MetaTrader 4 (MT4), FXCMs personal downloadable Active Trader or FXCM Trading Station, as well as the Java platform that is compatible even with Macs, this is definitely the most reliable and well established Forex traders you can find. Depending on the trading style, each of these platforms has their own advantages.

Due to its features and ease of use, FXCM has been listed as one of the fastest growing Forex traders by Inc.500 List of America’s Fastest Growing Companies for 3 consecutive years. The profile of the company is very impressive and so is the user base. Headquartered in New York City, FXCM has its offices spread around the world in places like the United Kingdom, France, Italy, Hong Kong, and Australia. FXCM is licensed and regulated in each of these companies.

As per the records of June 30, 2010, FXCM holds more than 165,000 tradable accounts on various platforms. On an average, more than $250 billion in notional volume is now traded on a monthly basis on the trading platforms provided by FXCM.

There are many impressive features of FXCM with experienced traders would enjoy. As novice, there is a demo trading account option that will help in learning the basics of trading. Although it may be a common feature offered by most traders, it is definitely not very frequent to have a Forex trader that offers live trading experience in the demo session. This is definitely worth mentioning; a feature that makes FXCM popular.

FXCM also provides variable spreads. This means, there are spreads that will change depending on the market trend. Sometimes, spreads can even widen without any prior warning. In case of FXCM, all the spreads aren’t competitive and the spreads can even expand widely based on the market and the currency pairs used for trading. Therefore, it is not only important to stick to the trader but also to understand the ups and downs in the market.

FXCM is promising since it offers leverage at the rate of 1:500 or even 1:1000. This is one feature that actually compels traders to try their luck, and the fortunate ones make a lot of money out of the same. Obviously, the currency pairs are great.

FXCM Forex Trading Accounts and Costs

FXCM offers different types of accounts designed for skilled traders and beginners. There is a standard 100K account, which is ideal for knowledgeable traders wanting to leverage optimum advantages of trading. Opening standard account requires a deposit of $2,000. It comes with leverages of up to 1:200 for foreign traders (living outside USA), and leverage of 50:1 for US-resident traders.

The Mini Trading Account is created for beginners in the field of online currency trading. For this account, a minimum deposit of $50 is needed. Anybody can open a Mini Account either with US Dollars or other currencies like Pounds, Euros, Japanese Yen, New Zealand Dollars, Australian Dollars and Canadian Dollars.

A Training Account is available to FXCM users, available for a period of 30 days. This account is preloaded with demo money that amounts to $50,000.

While the platforms for all these accounts are the same, there are, however, separate usernames and passwords needed for each of these accounts.

FXCM Features and Trading Platforms

FXCM’s trading platforms, the FX Trading Station software has to be downloaded to the desktop. Once it is downloaded, the software is convenient to use.

  • Friendly and Intuitive: The best part of FX Trading Station is that it is a user-friendly software and quite intuitive too. It can also be customized according the preferences of users. The products on offer include day trading, trailing top/limit orders, entry orders and stop loss-take profit.
  • No Dealing Desk: The key feature of FXCM is that there is No Dealing Desk trading execution. It is the best way to eliminate any type of potential conflict of interests between traders and brokers. It also ensures that both the parties enjoy the trading and indulge in best transaction experiences with the trade. This type of offers is not made by most Forex brokers. The No Dealing Desk policy of FXCM makes it outstanding.
  • At Best Feature: This feature is truly the best, which enables you to fill at the most lucrative rate streamed to the company at that very moment, from various financial intuitions and global banks they are dealing with. As opposed to the standard feature of “At Market Range” this feature helps in preventing situations wherein the price you desired to choose for making an order has already expired.
  • FXCM Apps: FXCM provides an App Store – it is a professional and well developed trading app for MT4 platform. The company now offers $225 worth the value of different apps absolutely free of cost when you create a live account with a minimum deposit of $2000. The App Store provides other features like Forex News and utilities for indicators, trading and many more.
  • Charting Tools: There are analysis data and charting tools available from the website as well as external trading platforms. These tools can be used whenever needed.
  • Trading Spread: Low and flexible trading spread is the mainstay of this company. FXCM utilized several strategies and techniques for maintaining the lowest possible spread. There are traders to choose FXCM for trading only because of its competitive spread. For example, Euro/US dollar spreads is often two pips, while Pounds/US Dollars spread is three pips.
  • Trailing Stops: This feature is also available as an option for traders using FXCM. Stop orders can be converted to trailing stops simply by clicking the button, which makes it easier to streamline the process for traders who wish to use this risk management feature for Forex trading.
  • Customer Support: FXCM offers unparallel customer support, 24/7. Services are available throughout the weekdays and weekends, including the days when market remains closed.  There is a multi-lingual pool of staffs that speaks more than 20 languages, available for assistance at all times, via email, chat and toll free calls. VIP support is provided to traders holding Gold trading accounts with more than $25,000.
  • Extra Support and Assistance: Forex traders looking for some extra support can take optimum advantage of the Mirror Trader Feature, which is a web-based feature that runs with FXCM flawlessly. It allows traders to copy others automatically with the hope of increasing profits.


FXCM is the largest and strongest company in the Forex trading market with a global user base, vast financial assets and high liquidity. This enables the company to offer lucrative rates, inventive features and tools, and excellent customer support. With over 10 years of experience in the Forex market and global presence, Forex traders can enjoy a fair and balanced trading experience. In addition, the benefit of using FX Trading Station makes it a perfect choice for beginners. Furthermore, as accounts can be stated with very little money, it makes it more convenient for beginners to try and understand the live trading market properly. All in all, FXCM is the ultimate choice for Forex traders at different levels, regardless of their location.