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FXCM Alternatives

Written by
Réka H.
Fact checked by
Adam N.
Updated
Jan 2024

The best alternatives to FXCM are

  1. Forex.com - Global CFD and forex broker
  2. Pepperstone - Australian forex and CFD 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
Axi
Overall score
4.4 stars 4.5 stars 4.4 stars 4.5 stars 4.4 stars
Fees score
4.3 stars 3.7 stars 4.3 stars 4.4 stars 4.0 stars
Account opening score
4.4 stars 4.4 stars 5.0 stars 5.0 stars 4.4 stars
Deposit and withdrawal score
3.8 stars 4.4 stars 4.8 stars 4.9 stars 5.0 stars
Web platform score
3.3 stars 4.5 stars 2.8 stars 2.8 stars 2.8 stars
Markets and products score
1.8 stars 2.3 stars 2.6 stars 2.4 stars 2.3 stars
Visit broker
73% of retail CFD accounts lose money
Visit broker
68% of retail CFD accounts lose money
Visit broker
74-89% of retail CFD accounts lose money
Visit broker
74.32% of retail CFD accounts lose money
Visit broker
76.3% 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 101 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!

Forex.com

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

Visit broker
68% of retail CFD accounts lose money

Forex.com vs. FXCM: Trading fees
FX commission per lot
No commission is charged No commission is charged
EURUSD spread
1.2 0.7
GBPUSD spread
1.5 1.0
AUDUSD spread
1.4 0.9
USDJPY spread
1.4 1.0
USDCAD spread
2.7 1.4
Forex.com vs. FXCM: Minimum deposit, time to open an account
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.

Forex.com vs. FXCM: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
Yes Yes
Electronic wallets
Yes Yes
Withdrawal fee
$0
$0
Web trading platform of Forex.com, a FXCM alternative
Forex.com vs. FXCM: Trading platform scores
Web platform score
4.5 stars 3.3 stars
Mobile platform score
4.5 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
68% of retail CFD accounts lose money

Forex.com vs. FXCM: Markets and products
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

Pepperstone

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

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

Pepperstone vs. FXCM: Trading fees
FX commission per lot
$3.50 commission per lot per trade No commission is charged
EURUSD spread
0.1 0.7
GBPUSD spread
0.2 1.0
AUDUSD spread
0.2 0.9
USDJPY spread
0.3 1.0
USDCAD spread
0.3 1.4
Pepperstone vs. FXCM: Minimum deposit, time to open an account
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.

Pepperstone vs. FXCM: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
Yes Yes
Electronic wallets
Yes Yes
Withdrawal fee
$0
$0
Web trading platform of Pepperstone, a FXCM alternative
Pepperstone vs. FXCM: Trading platform scores
Web platform score
2.8 stars 3.3 stars
Mobile platform score
3.3 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

Pepperstone vs. FXCM: Markets and products
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
No
Yes

IC Markets

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

Visit broker
74.32% of retail CFD accounts lose money

IC Markets vs. FXCM: Trading fees
FX commission per lot
$3.50 commission per lot per trade No commission is charged
EURUSD spread
0.0 0.7
GBPUSD spread
0.0 1.0
AUDUSD spread
0.0 0.9
USDJPY spread
0.1 1.0
USDCAD spread
0.2 1.4
IC Markets vs. FXCM: Minimum deposit, time to open an account
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.

IC Markets vs. FXCM: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
Yes Yes
Electronic wallets
Yes Yes
Withdrawal fee
$0
$0
Web trading platform of IC Markets, a FXCM alternative
IC Markets vs. FXCM: Trading platform scores
Web platform score
2.8 stars 3.3 stars
Mobile platform score
3.3 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.

Visit broker
74.32% of retail CFD accounts lose money

IC Markets vs. FXCM: Markets and products
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

Axi

Recommended for forex traders familiar with the MetaTrader 4 platform

Visit broker
76.3% of retail CFD accounts lose money

Axi vs. FXCM: Trading fees
Axi
FX commission per lot
$3.50 commission per lot per trade No commission is charged
EURUSD spread
0.2 0.7
GBPUSD spread
0.6 1.0
AUDUSD spread
0.4 0.9
USDJPY spread
0.4 1.0
USDCAD spread
0.4 1.4
Axi vs. FXCM: Minimum deposit, time to open an account
Axi
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.

Axi vs. FXCM: Withdrawal options
Axi
Bank transfer
Yes Yes
Credit/debit card
Yes Yes
Electronic wallets
Yes Yes
Withdrawal fee
$0
$0
Web trading platform of Axi, a FXCM alternative
Axi vs. FXCM: Trading platform scores
Axi
Web platform score
2.8 stars 3.3 stars
Mobile platform score
3.3 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
76.3% of retail CFD accounts lose money

Axi vs. FXCM: Markets and products
Axi
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

FXCM

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

FXCM alternatives trading fees
Axi
FX commission per lot
No commission is charged No commission is charged $3.50 commission per lot per trade $3.50 commission per lot per trade $3.50 commission per lot per trade
EURUSD spread
0.7 1.2 0.1 0.0 0.2
GBPUSD spread
1.0 1.5 0.2 0.0 0.6
AUDUSD spread
0.9 1.4 0.2 0.0 0.4
USDJPY spread
1.0 1.4 0.3 0.1 0.4
USDCAD spread
1.4 2.7 0.3 0.2 0.4
FXCM alternatives minimum deposit and account open times
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.

FXCM and alternatives withdrawal options and fees
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
FXCM - Web trading platform
FXCM and alternatives trading platform scores
Axi
Web platform score
3.3 stars 4.5 stars 2.8 stars 2.8 stars 2.8 stars
Mobile platform score
4.5 stars 4.5 stars 3.3 stars
3.3 stars 3.3 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.

FXCM and alternatives markets and products
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
No
Yes
Yes

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 intro
Recommended for
Global forex broker Forex traders looking for easy account opening, funding and withdrawal
Global CFD and forex broker Forex traders looking for low fees and great research tools
Australian forex and CFD broker Forex traders looking for great account opening and customer service
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.

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Author of this article

Réka Hidas
Réka Hidas

Réka is a former Junior Broker Analyst for BrokerChooser. She 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, while also developing her skills and growing professionally in 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.

Visit FXCM 73% of retail CFD accounts lose money
Visit Forex.com 68% of retail CFD accounts lose money
Visit Pepperstone 74-89% of retail CFD accounts lose money
Visit IC Markets 74.32% of retail CFD accounts lose money
Visit Axi 76.3% of retail CFD accounts lose money

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