The Trading Station platform in the desktop version is a good choice for forex traders of varying levels (of experience). One of its best features is the Marketscope 2.0, a charting tool package. On the other hand, Trading Station’s web version is a tested smooth program that is equipped with several functions such as news, research, videos, market data indicators, and links to external sources.
- FXCM offers a $50 minimum for its standard account and a significant $25,000 for its ActiveTrader account.
- The exception here being if you are trading through an FXCM Islamic account.
- An FXCM dealing desk determines the best execution means which can result in FXCM acting as a market maker or using a dealing desk.
- At FXCM there are a total of 9 commodities available for trading.
This high-end broking service gives institutional clients excellent pricing and access to the forex and CFD markets. The broker’s proprietary Trading Station platform is available for iPhone and Android mobile devices. The app features a simple, intuitive interface for entering orders and receiving confirmations, as well as powerful trading tools and charts with access to research.
It provides a good trading experience for all kinds of investors, be it beginners or advanced traders. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Click here for a full list of our partners and an in-depth explanation on how we get paid.
Where is FXCM Based?
Novice traders can take advantage of FXCM’s extensive educational and research resources, as well as its video library that covers a wealth of trading topics. For more advanced traders, FXCM provides application programming interface (API) trading with 4 free APIs connected to the FXCM server that includes REST API, FIX API, Java API and a ForexConnect API. You can get more information on the broker’s algorithmic trading facilities by clicking here.
FXCM is also stepping up in providing educational resources and research for the market traders. FXCM outsources updates from Trading Central as well as important developments and economic news from Investing.com. FXCM also integrated special instructional materials into its research facility, which contains webinars, how-to videos, etc. We do our best to provide the best Support service possible, and our team will be delighted to hear that you have been left satisfied by your experience.
What Extra Trading Services does FXCM Offer?
When depositing accounts, FXCM traders can opt for credit or debit cards with no deposit charge. They can also go for a bank transfer, and wire transfers through Skrill, Neteller, and UnionPay. Though its withdrawal requests are also free of charge, it takes up to three days for the requests to be processed.
It is a good trading software overall and has a scripting language that allows users to develop their own indicators and scripts. MetaTrader 4 is much more accessible than Trading Station when it comes to the scripting language, but Trade Station seems to be the superior platform overall. The web platform is very similar to the desktop version, as it gives users access to videos, news, market data signals, etc. It also has almost as many charting and drawing tools as the desktop version, and a clean, intuitive interface. Trading Station web is very stable and mostly runs without a hitch. FXCM does not offer cryptocurrencies and they do not offer customer support during weekends.
We strive to provide the best service possible, and we assure you that the quality will only improve further in the future. Our team is always striving to provide the best possible service, and we are happy to hear we’ve been successful in meeting your needs. If you ever need anything else, we are always happy to help. I used to use FXCM when they were starting out around the early 2000s. I recently came back to their platform and have to say that their service has improved.
Both brokers offer a range of account types, but AvaTrade offers more features. To lure more traders, FXCM needs to recalibrate its client services by providing more avenues to help its traders get the best trading conditions and trade with a lot more ease and convenience. Let’s get to know more about this old institution and what it has to offer to forex brokers this year. Since the online forex revolution erupted, FXCM emerged and joined the first few brokerage companies operating back then.
I have tried other Forex companies but will now only trade with FXCM. I find their trading platform easy to use and have never had a bad experience. I have always been treated with respect and courtesy would recommend them 100% to new traders. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.
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A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). FXCM is also a great option for beginners, due to its wide range of educational materials and easy-to-use platforms, including its latest integration with TradingView. Both brokers offer a decent range of products, but AvaTrade has a more extensive selection that’s hard to ignore.
Here are some more details in regard to the FXCM minimum deposit and the deposit methods that are available to you as a trader with FXCM. When it comes to FXCM awards, they have won more than 25 over the years. This includes picking up an award for having the best trading tools in 2020. This helps demonstrate that the broker is always working hard to stay at the top of the sector. These unique markets then, and the solid range of forex pairs, make FXCM a good choice if you are looking for market variety.
If you want to find information on Forex brokers, read along to determine if FXCM is the right Forex broker for you. Most deposit methods take up to 1 business day to complete however bank wire can take 1-5 working days. When making a deposit into your account with a credit card or debit card (Visa or MasterCard) there is a minimum of $50 per deposit and a limit of $30,000 per month for all FXCM clients. FXCM has a knowledge section that consists of research or market analysis tools and education.
The average spread is 1.3 pips which is decent compared to other similar brokers. Overall, due to the strong background of the broker, years of successful operation, and reputation in the financial world our financial experts find FXCM broker a reliable and safe trading environment. Active or high-volume traders can enjoy their benefits with various available interfaces, good and competitive value spreads, or offerings with advanced technical features. The range of products available to you will depend on the entity of your trading account. Cryptocurrency trading is available at FXCM through CFDs, but not available through exchange trading the underlying asset.
Customer support representatives are praiseworthy and the educational content is superb. You can choose from among several excellent trading platforms and can access copy trading through FXCM’s social trading platform and automated trading via FXCM Apps and MetaTrader4 (MT4). If you want to trade assets other than forex, FXCM also offers CFD trading in shares, metals, oil, commodities, indices and cryptocurrencies. FXCM offers 24/5 award-winning customer services with customer support contactable via live chat, email, phone and even SMS text message.
ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data fxcm canada review points and publish tens of thousands of words of research. FXCM offers spread betting, making it a suitable choice for traders interested in this type of trading.