FXCM Logo
Written by:
Réka Hidas
Fact checked by:
Updated:
Dec 2022
Recommended for
  • Investors and traders globally
Trusted broker
  • Top-tier regulation in the UK
  • Compensation in case of broker bankruptcy (terms apply)
  • Long track record - founded in 1999
Popularity
557 people chose this broker in the last 6 months

Our take on FXCM

FXCM is a UK-based broker offering forex and CFD trading. FXCM's account opening process is straightforward, easy and fast. It has great technical research tools, including many technical indicators. The available educational content is high-quality. On the negative side, FXCM provides only CFDs (forex, indices, commodities, cryptos and shares), thus popular asset classes like real stocks or ETFs are missing. There is also a high fee for bank withdrawals. Lastly, the trading platforms don't offer safer two-step authentication. BrokerChooser gave FXCM a 4.4/5 rating based on analyzing 500+ criteria and testing via opening a live account.

BrokerChooser score
4.4 /5
Visit broker 71% of retail CFD accounts lose money
FXCM is not available in United States
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FX commission per lot
No
Number of currency pairs
45
Minimum deposit
$50
Credit/debit card deposit
$1
Pros
Cons
Fast and straightforward account opening
Limited product portfolio
Good technical research tools
High bank withdrawal fees
High-quality educational content
No two-step authentication on trading platforms
Expert opinion
“I recommend FXCM for forex traders looking for easy account opening, funding and withdrawal.”
Gergely Korpos
Co-founder / CPO

FXCM main highlights

🗺️ Country of regulation UK, Australia, South Africa and Cyprus
💰 Trading fees class Low
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $0
💰 Minimum deposit $50
🕖 Time to open an account 1-3 days
💳 Deposit with bank card Available
👛 With electronic wallet Available
💱 Number of base currencies 4
🎮 Demo account provided Yes
🛍️ Products offered CFDs (forex, indices, commodities, cryptos and shares)

FXCM summary

To read much more details about the broker's services and features, expand on the sections below.

FXCM review
Fees

Score: 4/5
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FXCM has average forex and non-trading fees. There are no account, deposit, or credit/debit card withdrawal fees. However, you have to pay a $50 fee after one year of inactivity and bank withdrawal can be costly.
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FXCM review
Account opening

Score: 4.2/5
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The account opening process at FXCM is hassle-free, but the minimum deposit is $50 in Europe and in non-EU countries as well. Also, the account opening time is longer than usual.
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FXCM review
Deposit and withdrawal

Score: 4/5
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There are multiple options both for deposits and withdrawals, but bank withdrawals have high fees and only a few account currencies are available.
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FXCM review
Web trading platform

Score: 3.3/5
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FXCM's web trading platform is extremely customizable, provides a wide range of order types and has a great search function. On the other hand, it lacks two-step authentication.
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FXCM review
Mobile trading platform

Score: 4.5/5
+
FXCM has a good mobile trading platform. It is user-friendly, offers many order types and has a good search function. On the negative side, there is neighter two-step, nor touch/face ID login.
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FXCM review
Desktop trading platform

Score: 3.8/5
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FXCM's desktop platform has great customizability and a good variety of order types. However, you cannot set price alerts.
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FXCM review
Markets and products

Score: 1.7/5
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FXCM provides only CFDs (on shares, stock indices, forex, commodities and cryptos). Popular asset classes, like real stocks and bonds, are not available for trading.
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FXCM review
Research

Score: 4.3/5
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FXCM provides great research tools for technical analysis, e.g. good charting and market screener. On the negative side, fundamental data on assets is not available.
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FXCM review
Customer service

Score: 5/5
+
FXCM's customer support is great. You can reach them in many ways and you will get fast and relevant answers.
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FXCM review
Education

Score: 5/5
+
FXCM offers a great range of educational tools, such as educational videos and webinars. Demo accounts are also available, but only for a limited set of countries.
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FXCM review
Safety

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FXCM is regulated by top-tier authorities, like the UK's FCA. Its parent majority economic owner company is listed on the New York stock exchange and has a banking background.
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FXCM review
Bottom line

FXCM is a great forex and CFD broker. Its majority economic owner is the Jefferies Financial Group. Also it is regulated by multiple top-tier financial authorities, including the FCA and ASIC.

FXCM’s technical research and educational tools are high-quality and well-organized.

On the other hand, FXCM's product selection is limited to only CFDs (on shares, stock indices, forex, commodities and cryptos). Bank withdrawal fees are high and trading platforms lack a secure two-step login. 

Feel free to try FXCM, as their minimum deposit requirement is low and the inactivity fee only kicks in after a year.

Visit broker
71% of retail CFD accounts lose money

FXCM review
FAQ

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Author of this review

Réka Hidas

Author of this review

Réka attended the International Business and Economics bachelor program at Corvinus University in Budapest. She's eager to help investors find the best investment providers, through writing extensive reviews. On a more personal level she wants to develop her skills and grow professionally on this field.

Réka Hidas

Junior Broker Analyst

Réka attended the International Business and Economics bachelor program at Corvinus University in Budapest. She's eager to help investors find the best investment providers, through writing extensive reviews. On a more personal level she wants to develop her skills and grow professionally on this field.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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71% of retail CFD accounts lose money

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