FXCM
Minimum deposit ($)
300.0
Commission
0.0
Accepting US clients?
Swap free accounts
Segregated accounts
Interest on margin
Managed accounts
Accounts for money managers (MAM, PAMM)
One click trading
API
OCO orders
Trading over the phone
Hedging allowed
Trailing stops
Mobile trading
Scalping allowed
Bonuses
Demo Accounts
Web based trading
Contests
Decimals
5
Minimum lot size
1000.0
Maximum lot size
100000.0
Spread
Variable
Broker type
Dealing Desk, Market Maker
Maximal leverage (1:?)
30
Phone
+44 (0) 8001456477
Fax
-
Availability
Phone, Chat, Email, Whatsapp
Email
Address
20 Gresham Street, 4th Floor, EC2V 7JE, London, United Kingdom.
Regulation
FCA (UK), CySEC (Cyprus), ASIC (Australia), FSCA (South Africa)
Trading Platforms
MetaTrader 4, FX Trading Station, Web Platform, Mobile Platform
Funding/Withdrawal methods
Wire Transfer, Credit Card, Debit Card, Neteller, Skrill
Account Currency
USD, GBP, EUR
Languages
English, Spanish, French, German, Italian, Greek, Hebrew, Chinese, Indonesian, Malay, Thai, Arabic, Vietnamese
Country
United Kingdom
International offices
Australia, Germany, Greece, Hong Kong, South Africa, United Kingdom, United States
Trading platform(s) timezone
(GMT) Western Europe Time, London, Lisbon, Casablanca
Other trading instruments
Stocks, Indices, Commodities, Spread Betting, CFDs, Cryptocurrency
Member Since Aug 12, 2009
272 posts
Oct 11, 2016 at 00:23
(edited Oct 11, 2016 at 00:34)
indidream posted:pipdetector posted:
I do not know about the way FXCM with Trading Station works, but FXCM + MT4 provides me with constant stream of surprises... Starting from spikes that obliterate my account for a day or two and ending on small positions disappearing without hitting SL/TP. Customer service is good, but I would prefer if I did not need to have to use it so often.
confirm your statement
@indidream it appears @pipdetector has not been active on this site since 2011, so it seems unlikely he will reply now. It would be hard for me to guess what he even meant without knowing more details. That said, if you have any specific questions about FXCM, I would be happy to answer them. First, it's important to understand that FXCM offers the same execution options for MT4 users as we do for Trading Station users. In fact, if you have an MT4 account with FXCM, your login details will allow you to use all three versions of Trading Station (Desktop, Mobile and Web) on the same account.
FXCM provides No Dealing Desk (NDD) forex execution to Standard accounts (5k minimum) and Active Trader accounts (25k minimum), and dealing desk (DD) execution to Mini accounts ($50 minimum). It's worth noting the base price used for DD execution on Mini accounts before adding the spread markup is the same base price used for NDD forex execution with the spread+commission pricing model. That's a key reason you can have confidence trading with FXCM regardless of the account type you choose. 😄
Oct 10, 2016 at 06:10
pipdetector posted:
I do not know about the way FXCM with Trading Station works, but FXCM + MT4 provides me with constant stream of surprises... Starting from spikes that obliterate my account for a day or two and ending on small positions disappearing without hitting SL/TP. Customer service is good, but I would prefer if I did not need to have to use it so often.
confirm your statement
Member Since Aug 12, 2009
272 posts
Aug 19, 2016 at 22:14
(edited Aug 19, 2016 at 22:17)
bhzgold posted:
any one have balance over $100.000 on FXCM ?
maybe you can share , so someone who want to deposit a large amount get a confidence.
thx
@bhzgold where are you located? FXCM is regulated in major financial centers around the world, so I would be happy to discuss specifics with you based on your country of residence. For example, the latest CFTC data show traders have more money on deposit with FXCM than any other US-regulated forex broker.
Member Since Aug 12, 2009
272 posts
Aug 02, 2016 at 19:25
(edited Aug 02, 2016 at 19:44)
voipexpert posted:
Many orders been rejected.
@voipexpert what was your Maximum Deviation setting for these orders? If you find you are getting the 'Off quotes' message frequently, it could indicate your Maximum Deviation is set too low for the market conditions.
An 'Off quotes' message on your MT4 platform means the price that was available in the market was outside the Maximum Deviation range you specified for your order. Therefore, your order was canceled instead of executing at the available price to prevent you from receiving negative slippage outside your specified tolerance. Slippage is a risk of a trading in any market, with any broker, but FXCM's MT4 platform lets you control how much negative slippage you are willing to accept by adjusting your Maximum Deviation.
For example, suppose your Maximum Deviation is set to 15. That equates to 1.5 pips because each point on Max Dev represents 0.1 pips. With this Max Dev, setting lets suppose you place an order to buy EUR/USD at 1.0990[0]. That means your order can be filled if the available price in the market is 1.0991[5] or lower. If the price available in the market is 1.0991[6] or higher, then your order will be canceled and you will get an 'Off quotes' message. This message lets you know your order was canceled because the best price available to fill it would have resulted in negative slippage greater than your specified tolerance of 1.5 pips.
Note that the Maximum Deviation feature on FXCM's MT4 platform only limits your negative slippage, not your positive slippage. Positive slippage is when your order is filled at a better price than you requested. If best price available to filled your order was 1.0988[0] then your order would be executed at this price resulting in 2.0 pips of positive slippage.
You can see the latest FXCM execution stats on our website: https://bit.ly/21hOZa5
Highlights:
* 78.71% of all orders had NO SLIPPAGE.
* 12.77% of all orders received positive slippage.
* 8.52% of all orders received negative slippage.
* 50.02% of all limit and limit entry orders received positive slippage.
* 39.9% of all stop and stop entry orders received negative slippage.
Member Since Jul 26, 2016
1 posts
Aug 02, 2016 at 06:51
Many orders been rejected.
Member Since Aug 12, 2009
272 posts
Jul 15, 2016 at 21:54
(edited Jul 15, 2016 at 21:54)
AndrewVovk posted:
FXCM is very old and reliable broker, with many licenses. But still it's a market maket that will always be against you. So i advise you to choose only true STP/ECN brokers where conflict of interest will not exist.
Hi Andrew,
FXCM believes in providing traders with transparency regarding the execution options we offer, so you have all the information you need to make the right decision and have an excellent trading experience that meets your expectations: https://bit.ly/1Z9W5BR
For Standard accounts and Active Trader accounts, we provide No Dealing Desk (NDD) forex execution. On the NDD model, we offset each client order one-for-one with the best prices from competing liquidity providers.
That means, we don't take the market risk on the side of client trades. Therefore, we don't profit from client losses, or lose from client profits. Furthermore, we would never switch a client from NDD execution without informing them.*
For Mini accounts, we provide dealing desk (DD) execution. On the DD model, we will face market risk as a result of entering into trades with clients. Because of this risk, FXCM needs to implement certain restrictions during news events.^
Additionally, we may take steps to mitigate the risk arising from market making more effectively by transferring your underlying account to our NDD offering. That means, we don't have to resort to the dealer intervention practices (re-quotes and excessive spread widening particularly during news events) which can occur with DD-only brokers, and you can have confidence in trading your FXCM account regardless of the account type you choose.
______________________________________________
* Mini accounts with equity greater than 20k are automatically converted to Standard accounts with NDD execution and a maximum of 100:1 leverage. Note that leverage magnifies gains and losses. For more information on how to use effective leverage, here's a DailyFX article: https://bit.ly/24EojEQ
^ The typical 2-5 pip minimum distance from current market rate for stop and limit orders on DD accounts could increase to upwards of 10 pips. Note that NDD accounts with FXCM have no such restrictions regarding order placement.
Member Since Feb 08, 2016
3 posts
Jul 12, 2016 at 13:29
FXCM is very old and reliable broker, with many licenses. But still it's a market maket that will always be against you. So i advise you to choose only true STP/ECN brokers where conflict of interest will not exist.
Member Since Oct 30, 2014
4 posts
Apr 26, 2016 at 06:32
He visto buenos comentarios acerca del broker fxcm, yo actualmente tengo cuenta en solidusfx y no tengo ninguna queja, todo correcto, espero que también pueda contar con una buena experiencia en fxcm, (diversificar es bueno), saludos.
Member Since Aug 12, 2009
272 posts
Apr 06, 2016 at 19:38
(edited Apr 06, 2016 at 19:41)
Dustin1772 posted:
I certainly can't comment on other ppls' experience but I've been with FXCM for 4yrs now and have over 1500 trades with them. Their platform stability has improved substantially the last few yrs so I have had very few glitches & can't remember any freezing in the past year or 2. I spend upwards of 4hrs a day on it. I really like their charting as it offers many different looks & tools & like being able to trade from the charts. If someone has a better platform for charting, let me know, plz. I can only remember one or 2 occurrences of 'slippage' in the past 50+ trades (one was quite a few pips, the other was negligible).
Hi Dustin,
Thank you for being a client of FXCM for 4 years. We take great pride in the quality of our trade execution and Trading Station. I'm glad you're pleased. 😄
You mentioned slippage, so it's worth noting that slippage can be positive or negative with FXCM. Positive slippage is when orders are filled at a better price, and with FXCM, it occurs just as frequently as negative slippage: https://bit.ly/21hOZa5
Dustin1772 posted:
FXCM seems to get beat up quite frequently. Maybe it's fair?
It's important to keep in mind our size. The latest data from the CFTC show traders have more money on deposit with FXCM than any other US-regulated forex broker.
We take all client feedback seriously and strive to provide everyone with excellent service.
Dustin1772 posted:
I hear on blogs that they are 'broke' & will file bankruptcy soon but aren't they the biggest in FX? That doesn't mean it can't happen I just don't know.
The latest data audited by Ernst & Young prove our strong competitive position.
As of November 5, 2015:
* Adjusted Q3/15 revenues of $59.6 million
* Adjusted EBITDA from continuing and discontinued operations of $5.2 million
* $254.3 million in operating cash
* $713.2 million in customer equity
* 178,273 active retail FX accounts
* Regulatory capital surplus of $85.1 million
Since FXCM is a publicly-traded company, information regarding our financials is more readily available than for many forex brokers which are privately-held companies: https://bit.ly/ZOCB0Y
Member Since Feb 09, 2014
6 posts
Apr 03, 2016 at 06:23
This is mostly for US traders as we seem to have sooo few options thanks to wonderful regulations by govt. FXCM seems to get beat up quite frequently. Maybe it's fair? I hear on blogs that they are 'broke' & will file bankruptcy soon but aren't they the biggest in FX? That doesn't mean it can't happen I just don't know. I certainly can't comment on other ppls' experience but I've been with FXCM for 4yrs now and have over 1500 trades with them. Their platform stability has improved substantially the last few yrs so I have had very few glitches & can't remember any freezing in the past year or 2. I spend upwards of 4hrs a day on it. I really like their charting as it offers many different looks & tools & like being able to trade from the charts. If someone has a better platform for charting, let me know, plz. I can only remember one or 2 occurrences of 'slippage' in the past 50+ trades (one was quite a few pips, the other was negligible). I don't like that recently they have started charging $10 per month unless I keep $1500 in my acct. I could eliminate this by going with the dealing desk but who wants to do that & if I can't make $ on $500 why would I add another $1K. BTW, I just withdrew $100 yesterday and it is showing up in my bank today which is a plus. So, although I continue to look at other options, FXCM isn't so bad.
Member Since Aug 12, 2009
272 posts
Mar 04, 2016 at 19:47
(edited Mar 04, 2016 at 19:50)
farroid posted:
I want broker independent platform and right now i have only two choices: cTrader and MetaTrader.
@farroid with FXCM you can also trade using NinjaTrader or MultiCharts which allow you to code strategies in C# and EasyLanguage respectively. 😄
farroid posted:
FXCM own Trading Station is stuck with Flash. i cant even trade it in demo. :(
While Trading Station Web is flash-based, Trading Station Desktop runs on Windows OS just like the other platforms you mentioned.
Mar 03, 2016 at 07:39
Dear Jason,
I want broker independent platform and right now i have only two choices: cTrader and MetaTrader. Only cTrader helps me have broker accounts in UK, Cyprus and Australia, and have native mirroring: cMirror. so i can trade only one 'strategy' account and have all other accounts with variable risk parameters follow it. I know there are third party solutions but there are latency issues and i am hesitant to give my trading account passwords to third party. Managing positions is ease in cTrader due to replication across all broker accounts. Otherwise i have to signin to each platform and manually manage.
MirrorTrader offered by FXCM isn't what i need. I don't want to provide or follow signals. I want to manage my own strategy across different accounts and different brokers. That's a pro trader's dream.
Retail trading platforms is a fragmented mess which has not much graduated from single retail trader's perspective: one account at one broker. FXCM own Trading Station is stuck with Flash. i cant even trade it in demo. :(
I remember being excited when one US broker started offering cTrader but it quickly went bust (MBTrading).
Just my two pips...
I want broker independent platform and right now i have only two choices: cTrader and MetaTrader. Only cTrader helps me have broker accounts in UK, Cyprus and Australia, and have native mirroring: cMirror. so i can trade only one 'strategy' account and have all other accounts with variable risk parameters follow it. I know there are third party solutions but there are latency issues and i am hesitant to give my trading account passwords to third party. Managing positions is ease in cTrader due to replication across all broker accounts. Otherwise i have to signin to each platform and manually manage.
MirrorTrader offered by FXCM isn't what i need. I don't want to provide or follow signals. I want to manage my own strategy across different accounts and different brokers. That's a pro trader's dream.
Retail trading platforms is a fragmented mess which has not much graduated from single retail trader's perspective: one account at one broker. FXCM own Trading Station is stuck with Flash. i cant even trade it in demo. :(
I remember being excited when one US broker started offering cTrader but it quickly went bust (MBTrading).
Just my two pips...
Member Since Aug 12, 2009
272 posts
Mar 01, 2016 at 00:03
(edited Mar 01, 2016 at 00:03)
farroid posted:
I wish FXCM can introduce cTrader...
@farroid thanks for your request 😄
Does the platform have a feature you want but could not find in the platforms FXCM offers? https://bit.ly/1TMqIIE
Member Since Aug 12, 2009
272 posts
Jan 15, 2016 at 23:22
xoof posted:
Overall FXCM is ok, but I hate it how they fail to quote their CFDs sometimes.
Just now they stopped quoting GER30 for 34 minutes or so in the middle of the day while other brokers continued quoting it.
FXCM resumed quoting but instead of filling in the missing bars they just showed a gap, as a result I took a loss of 62 pips instead of closing it much earlier.
They stopped quoting at 48 minutes, and I opened the trade at 08 minutes next hour, the actual price was 50+ pips lower by then, but they quoted me at a price that was at 48 minutes, how it that possible?
The worst part is that it happens on a regular basis, not often, but it surely happens, especially after platform updates.
They need to work on their CFDs. Just when I thought that FXCM could be the one.
@xoof if you feel there is an error in FXCM's pricing for GER30 that negatively impacted your trades, I encourage you to file a trade inquiry: https://bit.ly/1NbrGwj
That way the Trade Services Team can investigate what happened and make the appropriate correction to your account if necessary. In addition, the tech support team can look into why quotes seem to stop frequently for you, since this is not the case for other FXCM clients. Live support is available to help you 24 hours day: https://bit.ly/1ilO0qa
Jan 12, 2016 at 15:50
(edited Jan 12, 2016 at 16:10)
Overall FXCM is ok, but I hate it how they fail to quote their CFDs sometimes.
Just now they stopped quoting GER30 for 34 minutes or so in the middle of the day while other brokers continued quoting it.
FXCM resumed quoting but instead of filling in the missing bars they just showed a gap, as a result I took a loss of 62 pips instead of closing it much earlier.
They stopped quoting at 48 minutes, and I opened the trade at 08 minutes next hour, the actual price was 50+ pips lower by then, but they quoted me at a price that was at 48 minutes, how it that possible?
The worst part is that it happens on a regular basis, not often, but it surely happens, especially after platform updates.
They need to work on their CFDs. Just when I thought that FXCM could be the one.
Just now they stopped quoting GER30 for 34 minutes or so in the middle of the day while other brokers continued quoting it.
FXCM resumed quoting but instead of filling in the missing bars they just showed a gap, as a result I took a loss of 62 pips instead of closing it much earlier.
They stopped quoting at 48 minutes, and I opened the trade at 08 minutes next hour, the actual price was 50+ pips lower by then, but they quoted me at a price that was at 48 minutes, how it that possible?
The worst part is that it happens on a regular basis, not often, but it surely happens, especially after platform updates.
They need to work on their CFDs. Just when I thought that FXCM could be the one.
Member Since Aug 12, 2009
272 posts
Dec 30, 2015 at 21:02
Goya7 posted:
So you mean FXCM do not charge losing trades, is it? ))
@Goya7 on our No Dealing Desk (NDD) forex execution model, FXCM makes money from your trading volume, not your losses. We do this by charging a commission on your trades.
The forex quotes you see on our platform are the best bid and ask prices we receive from multiple competing liquidity providers, and your orders are offset with the liquidity provider quoting us the best available price. You can see the results for yourself on this live table which show that FXCM spreads are very competitive: https://www.myfxbook.com/forex-broker-spreads
More info on our NDD pricing can be found here: https://bit.ly/1ib2QiB
