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Our top alternative brokers to FXCM
Forex.com
4.5
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77% of retail CFD accounts lose money
Pepperstone
4.5
Visit broker
74-89% of retail CFD accounts lose money
Our top alternative brokers to FXCM
Forex.com
4.5
Visit broker
77% of retail CFD accounts lose money
Pepperstone
4.5
Visit broker
74-89% of retail CFD accounts lose money
FXCM Alternatives

The best alternatives to FXCM are

  1. Forex.com - Global CFD and forex broker
  2. Pepperstone - Australian forex broker
  3. IC Markets - Global forex broker
  4. Axi - Australian forex broker

Let's see in a bit more detail how the FXCM alternatives compare to FXCM and each other:

FXCM alternatives comparison
FXCM Forex.com Pepperstone IC Markets Axi
Overall score 4.5 4.5 4.5 4.5 4.5
Fees score 4.2 stars 3.9 stars 4.4 stars 4.4 stars 4.6 stars
Account opening score 4.4 stars 4.4 stars 5.0 stars 5.0 stars 4.4 stars
Deposit and withdrawal score 4.0 stars 4.3 stars 4.3 stars 4.9 stars 4.4 stars
Web platform score 3.3 stars 4.3 stars 2.8 stars 2.8 stars 2.8 stars
Markets and products score 1.6 stars 2.0 stars 1.7 stars 1.8 stars 1.8 stars
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77% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money
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75% of retail CFD accounts lose money
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74.6% of retail CFD accounts lose money

Why are these brokers considered good alternatives to FXCM? There are many areas based on which FXCM can be compared with others. When we say a given online broker is a good alternative to FXCM we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

FXCM alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • FXCM is recommended for forex traders looking for easy account opening, funding and withdrawal
  • Forex.com is recommended for forex traders looking for low fees and great research tools
  • Pepperstone is recommended for forex traders looking for great account opening and customer service
  • IC Markets is recommended for forex and cfd traders who value easy account opening and free deposit/withdrawal options
  • Axi is recommended for forex traders familiar with the metatrader 4 platform

Important factors of finding FXCM alternatives

So far BrokerChooser has reviewed 94 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether FXCM or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. FXCM is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost FXCM alternative.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at FXCM, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given FXCM alternative is a must.


Now let's dive into the details of how FXCM and its alternatives perform in the most important areas!

FXCM alternatives
Forex.com

Forex.com is a global FX and CFD broker established in 2001. Forex.com is a brand of StoneX Financial Ltd, whose parent company StoneX Group Inc is listed on the NASDAQ Stock Exchange. The company is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK and the US Commodity Futures Trading Commission (CFTC).

Forex.com is considered safe because it has a long track record, it is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for low fees and great research tools

Pros Cons
Low forex fees Limited product portfolio
Great variety of currency pairs High stock CFD fees
Diverse technical research tools Non-user-friendly desktop platform

Visit broker
77% of retail CFD accounts lose money

Fees
3.9

Forex.com has low fees for forex trades and there is no withdrawal fee. On the other hand, stock CFD fees are high and there is an inactivity fee.
Pros Cons
Low forex fees Inactivity fee
No withdrawal fee High stock CFD fees
Low stock index CFD fees
FXCM vs. Forex.com: Trading fees
Forex.com FXCM
EURUSD benchmark fee $6.1 $8.2
EURGBP benchmark fee $7.5 $11.6

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
77% of retail CFD accounts lose money

Account opening
4.4

Forex.com's account opening is seamless and fully digital, with a low minimum deposit. On the other hand, account verification takes around 2 business days, which is not the fastest on the market.
Pros Cons
Fully digital Relatively slow account verification
Low minimum deposit
User-friendly
FXCM vs. Forex.com: Minimum deposit, time to open an account
Forex.com FXCM
Minimum deposit $100 $50
Time to open account 1-3 days 1-3 days

If you are interested more in Forex.com minimum deposit, this overview will help you.

Visit broker More
77% of retail CFD accounts lose money

Deposit and withdrawal
4.3

Forex.com provides multiple deposit and withdrawal options, all free of charge. However, withdrawal is not possible with some credit cards.
Pros Cons
Credit/Debit card available Problem with credit card withdrawal
Free withdrawal
No deposit fee
FXCM vs. Forex.com: Withdrawal options
Forex.com FXCM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Visit broker More
77% of retail CFD accounts lose money

Web trading platform
4.3

Forex.com's web trading platform is user-friendly and extremely customizable, with lots of order types. On the negative side, there is no two-step login.
Pros Cons
User-friendly No two-step (safer) login
Good customizability (for charts, workspace)
Good variety of order types
Web trading platform of Forex.com, a FXCM alternative
FXCM vs. Forex.com: Trading platform scores
Forex.com FXCM
Web platform score 4.3 stars 3.3 stars
Mobile platform score 4.3 stars 4.5 stars
Desktop platform score 3.0 stars 3.8 stars

Learn more about Forex.com's web trading platform in the detailed Forex.com review.

Visit broker
77% of retail CFD accounts lose money

Markets and products
2.0

At Forex.com, you can only trade with forex, CFDs and cryptos. Other asset classes, like real stocks or funds, are not available.
FXCM vs. Forex.com: Markets and products
Forex.com FXCM
Stocks No No
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes Yes

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77% of retail CFD accounts lose money

Verdict

Forex.com is a great forex and CFD broker regulated by several financial authorities, such as the UK's FCA and the US CFTC.

On the positive side, it has low forex fees, many tradable currency pairs, and high-quality research tools.

It has some drawbacks though. Popular assets like real stocks or bonds are not available. Stock CFD fees are quite high, and the desktop platform is not easy to use.

Since there is no inactivity fee unless you don't trade for one year, feel free to try Forex.com today.

Forex.com
Summary Forex.com is a global forex and CFD broker, regulated by many financial authorities including the top-tier UK FCA. Its parent company, StoneX Group Inc. is listed on the NASDAQ Stock Exchange.
Fees score 3.9 stars
Recommended for Forex traders looking for low fees and great research tools

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77% of retail CFD accounts lose money

FXCM alternatives
Pepperstone

Pepperstone is an Australian forex broker that also offers CFDs. It was established in 2010 and opened a London office in 2015 to be able to better serve its European clients. After Brexit, new clients registering from the EU are served by their German and Cyprus arm.

Pepperstone is considered safe because it's regulated by three top-tier financial authorities: the UK's Financial Conduct Authority (FCA), Germany's BaFin and the Australian Securities and Investments Commission (ASIC).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for great account opening and customer service

Pros Cons
Fast and fully digital account opening Only CFDs offered
Great customer service MetaTrader platform is basic
Seamless and free deposit and withdrawal

Visit broker
74-89% of retail CFD accounts lose money

Fees
4.4

Pepperstone has low forex and non-trading fees, as no inactivity or account fee is charged. However, the CFD financing rates, i.e. fees for holding CFD positions overnight, are high for a few assets.
Pros Cons
Low forex fees High costs for holding positions overnight
No withdrawal fee
No inactivity fee
FXCM vs. Pepperstone: Trading fees
Pepperstone FXCM
EURUSD benchmark fee $6.7 $8.2
EURGBP benchmark fee $8.5 $11.6

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
74-89% of retail CFD accounts lose money

Account opening
5.0

Pepperstone's account opening process is great. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
Pros Cons
Fast None
Fully digital
No minimum deposit
FXCM vs. Pepperstone: Minimum deposit, time to open an account
Pepperstone FXCM
Minimum deposit $0 $50
Time to open account 1 day 1-3 days

If you are interested more in Pepperstone minimum deposit, this overview will help you.

Visit broker More
74-89% of retail CFD accounts lose money

Deposit and withdrawal
4.3

Pepperstone provides plenty of deposit and withdrawal options, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
Pros Cons
Credit/Debit card available High bank withdrawal fee for clients outside the EU/Australia
No deposit fee
Several account base currencies
FXCM vs. Pepperstone: Withdrawal options
Pepperstone FXCM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Visit broker More
74-89% of retail CFD accounts lose money

Web trading platform
2.8

Pepperstone's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks two-step login and price alerts, and its design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation
Web trading platform of Pepperstone, a FXCM alternative
FXCM vs. Pepperstone: Trading platform scores
Pepperstone FXCM
Web platform score 2.8 stars 3.3 stars
Mobile platform score 3.8 stars 4.5 stars
Desktop platform score 3.4 stars 3.8 stars

Learn more about Pepperstone's web trading platform in the detailed Pepperstone review.

Visit broker
74-89% of retail CFD accounts lose money

Markets and products
1.7

At Pepperstone you can only trade with forex and other CFDs (commodities, stock indices, share CFDs, cryptos). This means that many popular asset classes, like real stocks and ETFs, are missing.
FXCM vs. Pepperstone: Markets and products
Pepperstone FXCM
Stocks No No
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes Yes

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74-89% of retail CFD accounts lose money

Verdict

Pepperstone is a great forex and CFD broker, regulated by the top-tier FCA, BaFin and ASIC.

The account opening is fast and fully digital. Customer service is great, giving you relevant answers within a short time. Deposit and withdrawal are a breeze, with no fees charged.

On the other hand, at Pepperstone you can trade only CFDs. If you're looking for advanced features in your trading platform then you might be disappointed with MetaTrader.

Feel free to try Pepperstone since there is no inactivity fee or minimum deposit for standard accounts.

Pepperstone
Summary Pepperstone is a forex and CFD broker regulated by both the UK FCA and the ASIC in Australia.
Fees score 4.4 stars
Recommended for Forex traders looking for great account opening and customer service

Visit broker More
74-89% of retail CFD accounts lose money

FXCM alternatives
IC Markets

IC Markets is an Australia-based global forex broker that was founded in 2007. The company has several branches and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC).

IC Markets is considered safe because it is regulated by the top-tier ASIC.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders who value easy account opening and free deposit/withdrawal options

Pros Cons
Low forex fees Limited product selection
Easy and fast account opening Slow live chat support
Free deposit and withdrawal No investor protection for non-EU clients

Visit broker
75% of retail CFD accounts lose money

Fees
4.4

IC Markets has low trading and non-trading fees. There is no inactivity or withdrawal fee. On the negative side, financing rates for CFDs are high.
Pros Cons
Low trading fees High financing rate for CFDs
Low non-trading fees
Low forex fees
FXCM vs. IC Markets: Trading fees
IC Markets FXCM
EURUSD benchmark fee $7.0 $8.2
EURGBP benchmark fee $7.6 $11.6

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
75% of retail CFD accounts lose money

Account opening
5.0

The account opening process at IC Markets is user-friendly and fully digital. It was also very quick, as our account was approved within a day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
FXCM vs. IC Markets: Minimum deposit, time to open an account
IC Markets FXCM
Minimum deposit $200 $50
Time to open account 1 day 1-3 days

If you are interested more in IC Markets minimum deposit, this overview will help you.

Visit broker More
75% of retail CFD accounts lose money

Deposit and withdrawal
4.9

IC Markets's deposit and withdrawal services are great, with many options available, mostly free of charge. On the negative side, international bank withdrawals are expensive.
Pros Cons
Credit/Debit card available AUD 20 fee for international bank withdrawal
No deposit fee
Several account base currencies
FXCM vs. IC Markets: Withdrawal options
IC Markets FXCM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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75% of retail CFD accounts lose money

Web trading platform
2.8

The web trading platform of IC Markets is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Web trading platform of IC Markets, a FXCM alternative
FXCM vs. IC Markets: Trading platform scores
IC Markets FXCM
Web platform score 2.8 stars 3.3 stars
Mobile platform score 3.8 stars 4.5 stars
Desktop platform score 3.4 stars 3.8 stars

Learn more about IC Markets's web trading platform in the detailed IC Markets review.

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75% of retail CFD accounts lose money

Markets and products
1.8

At IC Markets, you can trade only forex and CFDs. This means that many popular asset classes, such as real stocks or ETFs, are not available.
FXCM vs. IC Markets: Markets and products
IC Markets FXCM
Stocks No No
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes Yes

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75% of retail CFD accounts lose money

Verdict

IC Markets is a great forex broker. 

Its forex fees are low and opening an account is fast and easy. Deposits and withdrawals are free and the process is user-friendly. The education section of the website is also a plus.

On the other hand, IC Markets offers only forex and CFD products for trading. In addition, live chat support could be better, and non-EU clients are not covered by any investor protection scheme.

Feel free to try IC Markets, as you can have an account within a day and there is no inactivity fee.

IC Markets
Summary IC Markets is a global forex and CFD broker. The company is regulated by finanacial authorities globally, including the top-tier ASIC.
Fees score 4.4 stars
Recommended for Forex and CFD traders who value easy account opening and free deposit/withdrawal options

Visit broker More
75% of retail CFD accounts lose money

FXCM alternatives
Axi

Axi (previously known as AxiTrader) is an Australian forex broker founded in 2007. The new brand "Axi" was launched in 2020.

Axi is regulated by multiple financial authorities worldwide, such as the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Dubai Financial Services Authority (DFSA). As such, Axi is considered safe because it is regulated by several top-tier authorities.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders familiar with the metatrader 4 platform

Pros Cons
Low forex fees and no inactivity fee Offers only forex and CFD trading
No withdrawal and deposit fees Limited research tools
Fully digital account opening 24/5 customer service

Visit broker
74.6% of retail CFD accounts lose money

Fees
4.6

Axi has low forex and CFD fees. Non-trading fees are also low, as no withdrawal or inactivity fees are charged.
Pros Cons
Low non-trading fees None
Low forex fees
Low CFD fees
FXCM vs. Axi: Trading fees
Axi FXCM
EURUSD benchmark fee $4.9 $8.2
EURGBP benchmark fee $4.7 $11.6

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
74.6% of retail CFD accounts lose money

Account opening
4.4

Account opening at Axi is user-friendly and fully digital, but it takes a bit longer than at similar online brokers.
Pros Cons
Fully digital Slower account opening time
No minimum deposit
User-friendly
FXCM vs. Axi: Minimum deposit, time to open an account
Axi FXCM
Minimum deposit $0 $50
Time to open account 1-3 days 1-3 days

If you are interested more in Axi minimum deposit, this overview will help you.

Visit broker More
74.6% of retail CFD accounts lose money

Deposit and withdrawal
4.4

Axi charges no deposit or withdrawal fees. You can use bank card, bank transfer or e-wallets for deposits and withdrawals, but withdraw only to the same card/e-wallet you made the deposit from.
Pros Cons
Credit/Debit card available Some restrictions apply to withdrawals
Free withdrawal
No deposit fee
FXCM vs. Axi: Withdrawal options
Axi FXCM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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74.6% of retail CFD accounts lose money

Web trading platform
2.8

The web trading platform of Axi (provided by MetaTrader) is highly customizable and has a clear fee report. On the other hand, its design is outdated and it lacks a two-step login and price alerts.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Web trading platform of Axi, a FXCM alternative
FXCM vs. Axi: Trading platform scores
Axi FXCM
Web platform score 2.8 stars 3.3 stars
Mobile platform score 3.8 stars 4.5 stars
Desktop platform score 3.4 stars 3.8 stars

Learn more about Axi's web trading platform in the detailed Axi review.

Visit broker
74.6% of retail CFD accounts lose money

Markets and products
1.8

Axi provides only forex and CFDs. Popular asset classes, like real stocks or ETFs, are not available.
FXCM vs. Axi: Markets and products
Axi FXCM
Stocks No No
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes Yes

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74.6% of retail CFD accounts lose money

Verdict

Axi is regulated by multiple authorities globally, like the UK's FCA and ASIC in Australia.

On the plus side, forex fees are low and no inactivity fee is charged. Deposits and withdrawals are also free of charge. Account opening is easy and fully digital, without any minimum deposit, which is also great.

AxiTrader has some drawbacks, though. Its product range is limited to FX and CFDs, and its research tools lack recommendations and fundamental data. In addition, customer support is only 24/5.

Feel free to try Axi, as the trading fees are low and there are no deposit, withdrawal or inactivity fees.

Axi
Summary Axi was previously known as AxiTrader. It is an Australian forex broker, regulated by top-tier authorities such as the UK FCA or Australia's ASIC.
Fees score 4.6 stars
Recommended for Forex traders familiar with the MetaTrader 4 platform

Visit broker More
74.6% of retail CFD accounts lose money

FXCM alternatives
FXCM

Forex Capital Markets Limited: FCA registration number 217689 (www.fxcm.com/uk)

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXCM EU LTD: CySEC license number 392/20 (www.fxcm.com/eu)

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXCM, is a UK-based broker offering CFDs (on shares, stock indices, forex, commodities and cryptos) trading. FXCM was established in 1999 and the majority economic owner of FXCM is Jefferies Financial Group, which is listed on the New York Stock Exchange and has a background in merchant banking.

FXCM is considered safe as it has a long track record, a strong parent company, and is regulated by top-tier financial authorities like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC). It is also regulated by the Cyprus Securities and Exchange Commission (CySEC) and South Africa’s Financial Sector Conduct Authority (FSCA).

Recommended for forex traders looking for easy account opening, funding and withdrawal

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

Fees
4.2

FXCM has low forex fees and average 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.
Pros Cons
Low forex fees Inactivity fee after one year
No withdrawal fee High bank withdrawal fees
Low financing rate
FXCM alternatives trading fees
FXCM Forex.com Pepperstone IC Markets Axi
EURUSD benchmark fee $8.2 $6.1 $6.7 $7.0 $4.9
EURGBP benchmark fee $11.6 $7.5 $8.5 $7.6 $4.7

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Account opening
4.4

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.
Pros Cons
Fully digital Slower than at most forex brokers
Low minimum deposit
User-friendly
FXCM alternatives minimum deposit and account open times
FXCM Forex.com Pepperstone IC Markets Axi
Minimum deposit $50 $100 $0 $200 $0
Time to open account 1-3 days 1-3 days 1 day 1 day 1-3 days

Learn more about FXCM minimum deposit here.

Deposit and withdrawal
4.0

There are multiple options both for deposits and withdrawals, but bank withdrawals have high fees and only a few account currencies are available.
Pros Cons
Credit/Debit card available High bank withdrawal fees
No deposit fee No minor account base currencies are accepted
Free credit/debit card withdrawal
FXCM and alternatives withdrawal options and fees
FXCM Forex.com Pepperstone IC Markets Axi
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card Yes Yes Yes Yes Yes
Electronic wallets Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

Web trading platform
3.3

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.
Pros Cons
Good search function No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Good variety of order types
FXCM - Web trading platform
FXCM and alternatives trading platform scores
FXCM Forex.com Pepperstone IC Markets Axi
Web platform score 3.3 stars 4.3 stars 2.8 stars 2.8 stars 2.8 stars
Mobile platform score 4.5 stars 4.3 stars 3.8 stars 3.8 stars 3.8 stars
Desktop platform score 3.8 stars 3.0 stars 3.4 stars 3.4 stars 3.4 stars

Learn more about FXCM's web trading platform in the detailed FXCM review.

Markets and products
1.6

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.
FXCM and alternatives markets and products
FXCM Forex.com Pepperstone IC Markets Axi
Stocks No No No No No
ETFs No No No No No
Forex Yes Yes Yes Yes Yes
Funds No No No No No
Bonds No No No No No
Options No No No No No
Futures No No No No No
CFDs Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

Verdict

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.

 

FXCM
Summary FXCM is a UK-based broker offering forex and CFD trading. It is regulated by the FCA and Australia's ASIC.
Fees score 4.2 stars
Recommended for Forex traders looking for easy account opening, funding and withdrawal

FXCM alternatives
Bottom line

Based on our analysis, there are several good alternatives to FXCM. They all offer similar products and target similar customers. Here's a recap of the results in a table.

FXCM alternatives
Broker Info Recommended for
FXCM Global forex broker Forex traders looking for easy account opening, funding and withdrawal
Forex.com Global CFD and forex broker Forex traders looking for low fees and great research tools
Pepperstone Australian forex broker Forex traders looking for great account opening and customer service
IC Markets Global forex broker Forex and CFD traders who value easy account opening and free deposit/withdrawal options
Axi Australian forex broker Forex traders familiar with the MetaTrader 4 platform

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of BrokerChooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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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67% or 74-89% of retail CFD accounts lose money
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77% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money
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75% of retail CFD accounts lose money
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74.6% of retail CFD accounts lose money
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