FXCM

Forex Capital Markets

FXCM - Forex Broker

Broker nameFXCM
Company nameForex Capital Markets
Online since1999-01-01
Site urlhttp://www.fxcm.com
CountryUSA
Minimum account size2000.00
Minimum account size currencyUSD
Minimum position size1.000000
Maximum leverage50
Maximum leverage descriptionup to 1:50
Spread levelmedium
Spread description1-3 pips on EUR/USD
Is regulatedYES
Regulation descriptionRegistered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA). Also regulated by the official regulators in UK, Italy, Hong Kong, Australia, Germany, Dubai and France.
Easy registrationYES
Votes count282
Rating5.80
Email[email protected]

Please rate this broker


Advantages

  • PAMM accounts available.
  • Great user support.
  • Unique trading software.
  • MetaTrader 4 support.
  • Web-based platform is available.
  • Training courses available.
  • Access to DailyFX.com.

Disadvantages

  • Limitations for MetaTrader 4 accounts.
  • No mini-Forex accounts.

Payments

  • Bank wire
  • Credit cards
  • On-line checks
  • paper checks

Categories

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31 Reviews

  1. pro trader:

    Hi guys. My honest review is coming. I have used them for three years and closed my account three days ago. I found this website while searching for a new broker.
    Advantages
    Money is safe with them.
    Disadvantages
    Mt4 platform work with problems
    Trading station also is fine but crashes appear time to time and they can execute the wrong lot size time to time. The spread are high and this is the reasons why I left them. During the time I traded with them, I never get the spread lower than 2 pips. Most commonly it is 3 pips but can be even higher. Since I have become a more experienced trader I decided to find another broker. I think they prefer to attract new traders who simply do not have enough understanding on spreads. I like scalping but I cannot afford this as 3 pip for such a strategy is way too much. If you are a long term trader making a few trades a day, then probably the spreads would not matter for your that much. But if you did not enter the market at the right time, those spreads would be killing for you to scalp. If they made their spreads lower, I would come back to them.

  2. JC:

    There are many negative review about trading times to times and many disadvantages tell you, do not enter the trade, there is high market volatility. If you are trading with web-based platform due to different reasons it can slow down. I have been trading with FXCM for about six months and I have found the only one problem which is me. You should be learning to get the results. If you trader with not responsibility then this is not trading, it is gambling. If you want to play casino, then go to Las-Vegas. I know many cases of people winning big money on slots.

  3. rizal aman:

    My friend recommended me to try out FXCM. At the beginning, I enjoy their attractive platform. But in some time I finally realized that there is the only one way to trade with them is constantly making deposits with no withdraws. I have problems with connections and often with requotes
    I do not advise you to trade with them! I am trading with new other brokers and happy with them. They are much better than FXCM !

  4. Aaron:

    FXCM stinks. They have a market maker platform and you will get requites all the time regardless whether you are winning or losing. If you use their “active trader” you will encounter big slippage with meager order size. This broker is all about giving them your money. If you attempt to post a negative comment about them, you will be simply removed and banned. There are similar to KGB. By all means, avoid them. I have given you a warning.

  5. pakrul:

    I like this broker so far. You should not be greedy and plan your trading before getting on the market. Give it time to get some experience. You will like trading with them.

  6. Madhawa:

    They are fine for me.

  7. Alfian:

    The best platform Fxcm offers is Trade Station 2. First of all your gut, should become more experience is FX trading. It will take your time and effort as well as money. Do this, and you will start making some profit. This is just a matter of greed really. Do not love your money but the way you trade.
    FXCM is a reliable broker.

  8. sunny yeoh:

    I always have problems with their connection, it is just terrible. There was not a chance to trade normally. I hate how this goes. Because of this I have lost much money. I wanted to make an action but cannot. If here anyone from Malaysia is who has experienced the same problem, please write me at [email protected].

  9. Andrew Tan:

    I have problems with opening their platform today to close my trade and this is why I have lost $20,000. This broker is not reliable. And this is not only my opinion as I have met people who have experienced the same problems. I lost $5,000 last week because of the same thing. They told me that they would give me my money back, but never shown up again.

  10. linda:

    FXCM is terrible. I totally support Larry from Missouri. I have been using them for almost three years and their platform went down three times, which is many. I caused interruption to me and other FXCM customers. Due to their technical problems I lost money several times. Just recently, they increased the spread for micro account. I used to have a standard account before but switched to micro so that the spread would not be high. How can they just play with the costs? I am rather disappointed. This broker is unethical. They care only for making money and not for their customers. If you do not want to lose you money, do not open account with them. I have also read in forums that some people have experienced problems to get their money back. In some cases I took a month to finally get them.

  11. Alam:

    I use four accounts with them and active trader does have execution problems but it is fine for me. Because this is New York I am calm for my money, however, if you believe that they are dishonest, you should just complain about them to New York state department. You will be very welcome there.

  12. SAMUEL:

    Those people are scammer. They play with their spreads as they want. Stay away from them.

  13. Luke:

    I have found you and have been practicing with your demo account for some time. I wanted to open a real account but find out that I cannot deposit with e-currency. I also find out that you do not a mini account for small traders as I am. I cannot afford your minimum deposit. Thanks.

  14. soj:

    I think one of the biggest problems with this broker is transferring money. I have moved myself to another broker mostly because of difficulties with money transfers. Since I have found to broker I can deposit and withdraw the same day with no problems. They do respond in a good manner. As to slippages and spikes, I can advise traders to learn the concepts behind the Elliot wave theory so that you could use it to enter and exit the market at right time.
    If order to be a good traders, it is important to practice to trade on the market especially when scalping. This will protect them from losing much money.
    Best regards.

  15. LINCONEL:

    Hello, please, can anyone give me the information on me the limitation for MT 4 accounts as stated above? I want to know as I need an account with FXCM

  16. ramish:

    Oh my god! This is just impossible to find a reliable broker! There would always be some bad comments on everyone. Somebody, please help me!

  17. confusion is in the air:

    I have been trading with them using a demo account every day for several months. Sincerely, I cannot get why all those people complain about them. Maybe I will be the one of them if I get a real account. I truly hope, I will not. You will not find an ideal broker because all of them have some issue time to time and surely they are interested in getting their money, otherwise why would they do it? Would you open a business and give people the money but not yourself? That would not be a good idea. You would become a bankrupt very soon if you gave the money to the employees saying that you know that their work is crap and all those years they were not working hard, but who cares and here is your money! Right….
    If you are a good trading and you work hard, then you will get your money. If you obviously see that the trend is against you, you must get out. All what it means is that your strategy did not worked out. I do see the cases at times when the price reaches your stop loss suddenly and goes back. I have compared their platform to other platforms and make the conclusion that something is wrong at time this them. But what I am saying is that you cannot every time put a 30 pip Loss or limit because time to time that it is not going to work.
    Blaming the other is always the simplest way, but it is hard to admit that this is your fault as well. If you are unable to admit your own mistake, you will end up going from broker to broker and blaming them all in scam.
    I can advise you to better learn about Forex. Forex is a greedy market and you should know that. You will not find helpers at making money for you.
    It is also related to capital. If you have to deposit only $2,000, I can only wish you good luck! The greater capital you have, the longer you can stay in business.

  18. Amram:

    I have been trading with FXCM for a long time. I have never had such problems as these traders complain about, except for connection issues. I think the main problem that you deal with is your bad trading and not broker. The only complain I have about them is about that transfer that took a week to be completed. I am happy with everything others and like their great platform. Greatjob!

  19. paul:

    I like FXCM with their great trading platform and helpful services. Making money is what we have to do but they can just help at this.

  20. craig:

    I have been trading with them for some time but stopped doing that because of bad slippages eating my money. Their services are not helpful and I do not want to go back to them again.

  21. NickF:

    Fxcm is really great! I earn hundreds pips every day!

  22. diane:

    This FXCM is bad and selfish. The never tell how to withdraw profit or deposit, which the most essential matter for a trader. All they tell you is how to deposit your money. They are useless.

  23. Myrna Baron:

    Bad customer service. I have been using their micro account and met lots of technical issues. I have lost many trades die to those problems. I wanted to close the trade but could not as the platform would not work properly. Now which is 12/20 9.00 EST it is not working and this is the reason why I am trying to find another broker. I contacted them through phone, chat email but all I got were nasty replies. They are not reliable broker. I think there are some issues with their platform. As to depositing I found them also problematic. You never know how much time it will take you. It can be from hours to days. So, this is why I am looking for the other broker. I am thinking of join forex.com. or maybe gft. I am going to check them very well

  24. AGAMUNYE CHRIS:

    I truly want to open an account with you.

  25. Larry:

    I totally agree with Lawrence from Australia. It just seems to be always as they want. I have had also problems with connection when placing orders and this is what I have never experienced until started to use their platform. Please beware of them.

  26. Lawrence:

    They are pure scammers. Please stay away from them. It is even hard to remember now many time they scammed me. I have gathers a lot of proving materials including charts, feed and other stuff from different platforms. It is very clear that they would do anything to stop you to earn your money. Their platform freezes all the time when you try to make a profitable deal, but it also freezes when you want to close your order to avoid loses. Orders come along with huge slips at time when the price is not volatile, and when it is volatile times they will take out your orders with huge slips. They will also take out your limit to make an instantly losing trade. For instance, if you have an order with the profit to be taken at 30 pips, it will give you’re an order with a 40 pips slippage so you get a 10 pip lost instantly! If you do not want to lose your money, you should avoid this broker. I want to find a new, reliable broker instead of this one.

  27. Michael Alcocer:

    I have been trading with them for several months already and can tell you that they are scammers! They do whatever they want to the clients’ orders. If they want, you order will not be placed on the market or just wait until the better price for them. If you are starting to get some profit, they will just you special tricks to make you to lose. Often it happens during the news times. Thye platform get often freeze. They must be blocking you’re your account. This is why, you cannot get the news faster and you are in a big losing. I trade during the news time and I also do scalping. As to their Compliance and Arbitration Department, so I contacted them and they told me that they did not like my trading style as it is not in accordance to FXCM platform. I am not telling just words. I have all proves, including screen shoots and video. They seem to forgot that their clients is the only reasons why they are business.

  28. Peter:

    Thanks for your letter. We do not offer MT4 demo accounts currently. Due to high demand, all resources have been directed to real MT4 accounts. This is what I got from them, after I had problems to log in to my MT4 account. This is why I think they are not a full MT4 broker and they need to put this information on their website. Peter

  29. shalon6095:

    I like FXCM because of their low spread.

  30. Magdi Raid:

    I work with FXCM stationII and I found it is OK for trading. This station is the best concerning the others like Meta trader or Ninja trader. However, it depending on the trader not on the FXCM as this station problems might be that is not working with low speed connection and sometimes stucking of the connection problems.

  31. jonson:

    has anybody actually made any money with FXCM Active Trader? they asking for $50.000.00 of deposit, is it worth it or this is another scam from another broker?

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