The broker FXCM is one of the world’s leading foreign exchange brokers, the abbreviation FXCM way for «Forex Capital Markets» is.The broker serves both private clients and institutional clients and is successful for more than 12 years.
The experience with FXCM, we could make during our test phase is to assess very positive, because it shows the Broker his longstanding experience certainly in many areas. Among the highlights, for example, is part of mobile commerce, more than 50 usable currency pairs and some very low spreads, which are basically designed to be variable.
5 arguments for FXCM:
- 1. Direct trade from the chart (right-click)
- 2. mobile trading via terminal possible
- 3. over 50 currency pairs available
- 4. variable, sometimes very low spreads
- 5. Customer Care available around the clock
When FXCM Inc. is a financial services company, which is registered on the New York Stock Exchange. The principal place of business of the broker FXCM is located in London. There, the broker is also regulated by the competent financial, in this case the Financial Conducty Authority (FCA). In addition, FXCM also maintains a branch in the German capital Berlin. Also in Germany, a regulation instead, by the BaFin. The company was founded in the year 1999. Therefore, traders from the extensive to FXCM experience benefit, which is reflected in the trade offer. The company carries segragierte client accounts: Because the Forex Capital Markets Ltd. (FXCM UK) secures customer deposits on separate and limited-access accounts, these funds can not be used for other creditors in case of bankruptcy.
Conclusion: The broker is by the British Finanza ufsicht (FCA) and the BaFin regulates and has many years of experience. There is a deposit guarantee by segragierte customer accounts.The broker can therefore be eingstuft as safe.
2. Trade Offer: Forex and CFDs
FXCM is one of the leading online brokers in the area Forex and CFDs with more than 200,000 customers. FXCM was the first on the Stock Exchange (NYSE: FXCM) listed online broker. The company with offices around the world can therefore draw on a long tradition and experience. The unique feature of FXCM is the innovative order execution: 2007 FXCM has introduced No Dealing Desk (NDD) -Orderausführung for forex transactions. The self-imposed targets were more efficient and fairer price quotation and order execution than the more common models of dealing desk broker the forex industry.
The benefits include:
- No Dealing Desk-Orderausführungen für den Forex-Handel
- no conflict of interest of the broker
- The large number of liquidity providers ensure reliable courses that reflect the broad market.
- market-oriented and fair Kurser by the competition between suppliers
The offer of FXCM Forex ranges from about indices to commodities. It can over 40 currency pairs, crude oil, gold, silver, copper, palladium and platinum are traded.
Conclusion: FXCM provides No Dealing Desk execution of orders that particularity of online Brokers. Conflicts of interest are avoided. Can be traded over 40 currency pairs, commodities and indices.
3. Trading conditions and minimum deposit: Cheap trading
The broker FXCM calculated no platform costs, credit card or bank transfer costs, no cost for advice and service. There are no hidden costs. It caused the cost of the spread at the CFDs and the Forex trading a commission. These costs are moving in good to moderate field. In addition, FXCM offers a convenient rollover interest of liquidity providers. There is a minimum deposit of 2,000, — Euro for a private account.
FXCM offers good Forex spreads and relatively low commissions with an average of 0.2 pips on EUR / USD and 0.3 pips in USD / JPY. The order fees start at € 0.03 per trade. In addition, FXCM offers traders Forex cheap commissions without a cost plus( «markup»). There are no hidden spread costs. The Commission depends on the order size and the instrument and starts at 0.03 € per order.
Conclusion: The conditions at FXCM are convincing: cost transparency, good spreads, low commissions. The only disadvantage is the high minimum deposit of 2,000, — Euro. FXCM offers good Forex spreads and relatively low commissions with an average of 0.2 pips on EUR / USD and 0.3 pips in USD / JPY. The order fees start at € 0.03 per trade.
4. Trading Platform and Mobile Trading with FXCM: Four powerful options
Also FXCM is one of the Forex brokers that offer their customers not only a trading platform, but also provide four possible trade routes.So the trader can both on the Trading Station Web and the Trading Station Desktop and on MetaTrader4 trading caravans and on the Trading Station. Information about FXCM demo account is available here. Among other things, it is possible for the trading platform to issue directly from the chart of an order, which in this country is also referred to as «direct-click». By trading variant «No Dealing Desk» the order will be passed directly, namely to the bank with the best conditions. FXCM has updated its MT4 platform, to integrate design into the No Dealing Desk Forex. This means there is no connection to third parties and no account synchronizations.
Conclusion: FXCM offers four platforms for its customers: Trading Station Web, Trading Station Desktop, MetaTrader4 and Trading Station Mobile. Particularly the No Dealing Desk Orders need a platform edition without connecting to a third party or an account synchronization — as the MetaTrader. 4
5. Account Opening and bonus: High minimum deposit
As real trading account FXCM offers its customers the FXCM Standard account. The account is in the field of forex trading with a «No Dealing Desk execution» and in the field of trade CFDs with the so-called «no re-quotes» feature equipped. Who would like to start as a trader with the trading, however, have to make a relatively high minimum deposit that FXCM 2,000, above — is Euro. With a maximum leverage of 200: 1 can be subsequently traded. A free demo account can be opened, so you can train first trading virtually before the real money trading.As extras, the broker FXCM, offering no guaranteed bonus for new customers, a range of classes on offer, which could be interesting especially for newbies.
Conclusion: The account opening is easy and straightforward. The minimum deposit is 2.000, — Euro in a private account is relatively high, especially because the sum in different account models can be even higher.
6. Demo Account: Free and without obligation
FXCM provides a free demo account with a demo balance of 50,000, -Euro and a guide for those interested available. You should note: The demo account trying to replicate live market scenarios and is based on simulated market conditions.
Conclusion: For those who want to test only the free demo account with FXCM recommends. The account simulates reality and reacts like a real live account. So can be collected without risk first experiences.
7. Service and Education: Comprehensive and excellent
FXCM provides its customers with market news and offers numerous training opportunities. On the Research Portal DailyFX are current market news, currency views, a training area to prepare dealer to the Trading and diverse trading strategies provides. In addition, the German DailyFX forum can visit and the interactive economic data calendar and the free forex charts are used. DailyFX also offers several free webinars on the live stream, where the latest market developments are analyzed. Also informative online videos are available, but these are in English.
Support and service are also properly: Call or email each trading day staff are available.
Due to the wide range FXCM is popular with its customers. The broker has received numerous awards from the trading community, including best trading platform and customer service (Euro am Sonntag 2014), most popular CFD broker (Deutsches customers Institute 2014), the largest Forex Provider *, highest customer satisfaction for research and trading tools, training programs, mobile platform for smartphone and tablet for Investment trends Germany (2014).
Conclusion: FXCM is a very customer-oriented broker with comprehensive educational opportunities and support. The provider has therefore already been awarded by the trading community with some prices.
8. Deposits and withdrawals: All classical ways
With FXCM, you have the option of a deposit by bank transfer and / or credit card to make. Credit card deposits may be partially credited in real time. At FXCM you can with the Visa or MasterCard deposit through the Service Portal MyFXCM.com funds. All FXCM clients have a Live account can log in to the platform access data even when MyFXCM located beyond. The credit card is the fastest way of a deposit.
A deposit via bank transfer usually takes about 1-2 working days at a domestic transfer and 3-5 working days in the context of an international transfer.
They may be paid in EUR, USD, CHF and GBP.
Conclusion: deposits and withdrawals work comfortably all the classic routes such as bank transfer or credit card. Neither the partner banks nor FXCM charge fees for incoming deposits.
9. Seriousness: No scams FXCM recognizable
FXCM: Potsdam or legitimate? If you have this question asked before, our review is sure to be calm for you. Our FXCM experience, we were able to on the basis of extensive testing, namely clearly positive. We see the broker FXCM as reputable and maintain a FXCM fraud, for example in connection with the defrauding of customers, very unlikely.Of course we can justify our assessment also. First of all, the broker among other things, is in Germany regulated, from the BaFin.Moreover, the company is regulated by the FCA, so tight control is guaranteed. Add to that the fact that the broker for many years active in the market is represented. Had it been given incidents towards FXCM fraud, this would not have been to conceal. Therefore, we see the clear conclusion that FXCM is reputable.
Conclusion: Our test shows a clear result: FXCM is trustworthy in every respect. The broker provides its customers with a good selection of transparent conditions ready. Fraud can be discovered in our test at any point. On the contrary: FXCM provides an excellent educational opportunities and services.
10. Our conclusion about FXCM: Positive — 8 out of 10
1.variable spreads, depending on the sales volume moderate to very low
2.50 currency pairs are traded — good selection
3.different trading platforms, including mobile commerce possible
4.Customer Service at 24 hours and 7 days a week accessing
5.Placing orders directly from the chart possible (direct-click)