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FXCM Broker Review

FXCM broker review

  • For how long the company is in the market?
    • FXCM is in the market since 1999.
  • What are the main advantages here?
    • FXCM is regulated in the US, and although it has several fines from CFTC, it has the strictest regulation in the world. That gives confidence that traders are well secured and their funds are protected.
  • Did you find any reasons not to work with this broker?
    • This company has several fines from CFTC (Commodity Futures Trading Commission of the United States of America). In febrary 2017 FXCM was fined $7 million by the CFTC for defrauding retail forex customers. FXCM to deregister from the CFTC.
  • Does FXCM have swap-free (Islamic) accounts?
    • Yes, FXCM is suitable for Arabic traders.
  • What is the minimum deposit amount?
    • It is possible to start trading with $50.
  • Is this broker regulated?
    • The Companies That Make Up the FXCM Group Are Regulated In Several Jurisdictions. Forex Capital Markets Limited (FXCM LTD) is regulated by the Financial Conduct Authority (FCA) in the UK.
  • Anything special about spreads and margin leverage?
    • The company offers 1:50 leverage for US clients and 1:200 for clients outside US.

Video Review

Suspicious reviews that we found

I had an account with FXCM in the past, I wanted to withdraw all of my funds in the account at the time, but I was told by Jason Rogers that I had to leave $50 so as to keep my account open just in case I changed my mind and want to come back with FXCM in the future. So I left $50 in the account. Today I decided I will put some money into my FXCM forex account. I logged in to FXCM back office and successfully did. To my surprise the balance shows $0.00, my $50.00 gone. My account stayed open alright, but my money was stolen by FXCM. Jason Rogers please respond.*

*We found this review on Forexpeacearmy.com and the reply of customer support was:

In order for an account to remain active, there must be funds in the account. However, you should bear in mind if there has been no activity in the account for more than 1 year an inactivity fee may be charged as outlined in the trading agreement. Clients are emailed in advance of the inactivity fee being charged for you to either withdraw the funds or continue trading. If you have any additional questions, our customer support team is available 24 hours a day to help.

So bear in mind that if you go inactive for a long time, there is no need to keep funds on your trading account.

Reviews about the broker

  • Jordan

    Smart people /peers, great ability to learn a lot for self-starter and advancement opportunities if you are willing to pursue them.

  • Furra

    Low growth opportunity due to an over saturated upper management team is not very motivating

  • Temirxan

    I do not want to offend anyone, I think FXCM is the best you can find now. FXCM shares are traded on the New York Stock Exchange, and this says virtually everything. There is also GAIN CAPITAL (Forex.com) is also a serious company. First of all, if you want to work with a broker, first of all see where they are registered. If it is Cyprus, or some incomprehensible islands, which it is difficult to find on the map, it is better to turn off the computer and go to sleep. It will be more useful.

  • Bozzy

    Professionals this regulated broker should like. Trading conditions are highly appreciated. The minimum deposit is $ 5,000 on a standard account. Although there is a mini with $ 50. From time to time updates spreads, offering more profitable. A serious approach to providing a quality environment for legitimate and fair trade.

  • Nemchenko

    At FXCM polite guys work, they can chat with them on any question – they always respond quickly. The company itself is designed for professional traders, newcomers here do not belong.

  • Platon

    The company suits me almost in everything. Pleases that there is an opportunity to trade and not be distracted by all kinds of contests and bonuses. Of course, for someone it is very important, but not for me. I had enough trouble with the bonuses of my previous broker. Now I’m trading without all these tricks. FXCM broker ideally suited me.

  • Vasyunkov

    A good choice for those who trade on low liquid couples. Probably the best liquidity in the Turkish lira. Slightly stringent conditions for leverage, but as a whole can be understood – are regulated by the NFA. Overall, not bad.

  • Verya

    A solid broker, they say the real one, I’ve been trading there for several months, like everything is OK, there is an analyst in English. Support in Russian rather weak, they say why they registered in the British depot type transferred to Russian, it was all ok, the manager quickly responds if you need something to solve.

  • Dynia

    I ran into feedback on FXCM, that some had problems in withdrawing money, but the company’s office in London, the broker itself is an American company, and did not believe much on the Internet. But the reality was not too good. Particularly surprised that when I decided to withdraw some of the funds to the card from which I transferred money to the account, they informed me that it was on this card that they could not withdraw more money than the one that was transferred to the deposit.

  • Hotty

    This brokers suits me 100%. Good customer service, no problems with servers. My personal recommendation.

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