The best alternatives to FXCM are
- Forex.com - Global CFD and forex broker
- Pepperstone - Australian forex broker
- IC Markets - Global forex broker
- Axi - Australian forex broker
Let's see in a bit more detail how the FXCM alternatives compare to FXCM and each other:
| FXCM | Forex.com | Pepperstone | IC Markets | Axi | |
|---|---|---|---|---|---|
| Overall score | 4.5 | 4.5 | 4.6 | 4.5 | 4.4 |
| Fees score | 4.0 stars | 4.0 stars | 4.4 stars | 4.5 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 | 1.9 stars | 1.7 stars | 1.8 stars | 1.8 stars |
|
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76.31% of retail CFD accounts lose money |
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79% of retail CFD accounts lose money |
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74-89% of retail CFD accounts lose money |
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73% of retail CFD accounts lose money |
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76.4% 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 84 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
FXCM
FXCM, or Forex Capital Markets, is a UK-based broker offering forex and CFDs trading. FXCM was established in 1999 and is 100% owned by the Jefferies Financial Group, which is listed on the New York Stock Exchange and has a background in investment 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).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.31% 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 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
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 | Forex.com | Pepperstone | IC Markets | Axi | |
|---|---|---|---|---|---|
| EURUSD benchmark fee | $10.3 | $6.3 | $6.9 | $6.9 | $5.6 |
| EURGBP benchmark fee | $14.7 | $7.5 | $8.5 | $7.5 | $4.4 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
The account opening process at FXCM is hassle-free, but the minimum deposit is $360 (£300) in Europe and $50 in non-EU countries. 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 | Forex.com | Pepperstone | IC Markets | Axi | |
|---|---|---|---|---|---|
| Minimum deposit | $300 | $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
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 | Forex.com | Pepperstone | IC Markets | Axi | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes | Yes | No |
| Electronic wallets | Yes | Yes | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
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 and price alerts.
| Pros | Cons |
|---|---|
| • Good search function | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Good variety of order types |
| 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 | 3.3 stars | 4.3 stars | 3.8 stars | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.3 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
FXCM provides only forex and CFDs (on stocks, stock indices, commodities and cryptos). Popular asset classes, like real stocks and bonds, are not available for trading.
| FXCM | Forex.com | Pepperstone | IC Markets | Axi | |
|---|---|---|---|---|---|
| Stock | No | No | No | No | No |
| ETF | No | No | No | No | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | No | No | No | No | No |
| Bond | No | No | No | No | No |
| Options | No | No | No | No | No |
| Futures | No | No | No | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
Verdict
FXCM is a great forex and CFD broker. It has a strong parent company and is regulated by multiple top-tier financial authorities, including the FCA and ASIC.
FXCM has a great account opening process, and its technical research and educational tools are high-quality and well-organized.
On the other hand, FXCM's product selection is limited to only forex, CFDs 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 | 4.0 stars |
| Recommended for | Forex traders looking for easy account opening, funding and withdrawal |
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. 79% 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 |
Fees
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 |
| Forex.com | FXCM | |
|---|---|---|
| EURUSD benchmark fee | $6.3 | $10.3 |
| EURGBP benchmark fee | $7.5 | $14.7 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
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 |
| Forex.com | FXCM | |
|---|---|---|
| Minimum deposit | $100 | $300 |
| 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.
Deposit and withdrawal
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 |
| Forex.com | FXCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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 |
| Forex.com | FXCM | |
|---|---|---|
| Web platform score | 4.3 stars | 3.3 stars |
| Mobile platform score | 4.3 stars | 3.3 stars |
| Desktop platform score | 3.0 stars | 3.3 stars |
Learn more about Forex.com's web trading platform in the detailed Forex.com review.
Markets and products
At Forex.com, you can only trade with forex, CFDs and cryptos. Other asset classes, like real stocks or funds, are not available.
| Forex.com | FXCM | |
|---|---|---|
| Stock | No | No |
| ETF | No | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
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 | 4.0 stars |
| Recommended for | Forex traders looking for low fees and great research tools |
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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 forex and CFDs |
| • Great customer service | • Basic news flow |
| • Seamless and free deposit and withdrawal |
Fees
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 |
| Pepperstone | FXCM | |
|---|---|---|
| EURUSD benchmark fee | $6.9 | $10.3 |
| EURGBP benchmark fee | $8.5 | $14.7 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
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 |
| Pepperstone | FXCM | |
|---|---|---|
| Minimum deposit | $0 | $300 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in Pepperstone minimum deposit, this overview will help you.
Deposit and withdrawal
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 |
| Pepperstone | FXCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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 |
| Pepperstone | FXCM | |
|---|---|---|
| Web platform score | 2.8 stars | 3.3 stars |
| Mobile platform score | 3.8 stars | 3.3 stars |
| Desktop platform score | 3.4 stars | 3.3 stars |
Learn more about Pepperstone's web trading platform in the detailed Pepperstone review.
Markets and products
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.
| Pepperstone | FXCM | |
|---|---|---|
| Stock | No | No |
| ETF | No | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
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, Pepperstone provides only forex, CFDs and cryptos to trade with. Their news flow is rather basic. Lastly, while the majority of customers do have negative balance protection, this is not the case outside the EU/UK/Australia/Middle East.
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 |
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. 73% 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 |
Fees
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 |
| IC Markets | FXCM | |
|---|---|---|
| EURUSD benchmark fee | $6.9 | $10.3 |
| EURGBP benchmark fee | $7.5 | $14.7 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
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 |
| IC Markets | FXCM | |
|---|---|---|
| Minimum deposit | $200 | $300 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in IC Markets minimum deposit, this overview will help you.
Deposit and withdrawal
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 |
| IC Markets | FXCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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 |
| IC Markets | FXCM | |
|---|---|---|
| Web platform score | 2.8 stars | 3.3 stars |
| Mobile platform score | 3.8 stars | 3.3 stars |
| Desktop platform score | 3.4 stars | 3.3 stars |
Learn more about IC Markets's web trading platform in the detailed IC Markets review.
Markets and products
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.
| IC Markets | FXCM | |
|---|---|---|
| Stock | No | No |
| ETF | No | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
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 | 4.5 stars |
| Recommended for | Forex and CFD traders who value easy account opening and free deposit/withdrawal options |
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. 76.4% 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 |
Fees
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 |
| Axi | FXCM | |
|---|---|---|
| EURUSD benchmark fee | $5.6 | $10.3 |
| EURGBP benchmark fee | $4.4 | $14.7 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
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 | |
| • Low minimum deposit |
| Axi | FXCM | |
|---|---|---|
| Minimum deposit | $0 | $300 |
| Time to open account | 1-3 days | 1-3 days |
If you are interested more in Axi minimum deposit, this overview will help you.
Deposit and withdrawal
Axi charges no deposit or withdrawal fees. You can use credit/debit cards, bank transfer and electronic wallets for deposits, but only wire transfers and e-wallets for withdrawals.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Withdrawal only via wire transfer or e-wallets |
| • Free withdrawal | |
| • No deposit fee |
| Axi | FXCM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
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 |
| Axi | FXCM | |
|---|---|---|
| Web platform score | 2.8 stars | 3.3 stars |
| Mobile platform score | 3.8 stars | 3.3 stars |
| Desktop platform score | 3.4 stars | 3.3 stars |
Learn more about Axi's web trading platform in the detailed Axi review.
Markets and products
Axi provides only forex and CFDs. Popular asset classes, like real stocks or ETFs, are not available.
| Axi | FXCM | |
|---|---|---|
| Stock | No | No |
| ETF | No | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
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 |
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.
| Broker | Info | Recommended for |
|---|---|---|
| FXCM | UK-based 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 |
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