Overview of FXCM fees and charges
We know that fees are on top of people's mind when selecting a broker. Brokerage fees consist of trading and non-trading fees. The most important trading fees are commission, spread, and financing rate.
- Commission: it's charged when you execute a trade (either buy or sell). Commissions can be volume-tiered or flat fees. Nowadays, there are many commission-free brokers, click on the following links to check out the best free stockbrokers in the US and the EU.
- Spread: it denotes the difference between the bid and ask price. When you trade forex or CFDs, spreads can make up a significant part of your trading costs.
- Financing rate/overnight costs: if you trade on leverage, you may be charged for holding your positions overnight. This cost can be expressed as a percentage or in swap points.
- Non-trading fees: these occur when you deposit and withdraw funds, or if you don't use your account for a certain period.
As FXCM focuses on CFD and forex trading, the most important cost elements are spreads and financing rates (overnight fees), commissions less so.
Disclaimer: 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Now, let's dive into the details and see what commissions, spreads, and financing rates FXCM charges.
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73% of retail CFD accounts lose money
73% of retail CFD accounts lose money
FXCM commission and other trading fees
The good news is that FXCM has low trading fees in general. We ranked the fees of FXCM as low, average, or high based on how they compare with all reviewed brokers.
Check out this table to get an overview of whether FXCM commissions, spreads, and financing rates for each asset class are low/average/high.
|
Forex
|
Low | Low | Low |
|---|---|---|---|
|
CFD
|
Low | Average | Low |
|
Financing rate
|
Low | Low | Low |
Now let's go over the trading fees for each asset class one by one.
FXCM forex commissions and spreads
FXCM forex fees are low. FXCM forex commissions and spreads for individual currency pairs are charged as per the table below.
|
EURUSD fee description
|
The fees are built into the spread, 0.7 pips is the average spread cost during peak trading hours. |
|---|---|
|
GBPUSD fee description
|
The fees are built into the spread, 1 pip is the average spread cost during peak trading hours. |
Check out how FXCM forex fees compare to its two closest competitors.
|
EURUSD benchmark fee
|
$8.0 | $9.7 | $9.7 |
|---|---|---|---|
|
GBPUSD benchmark fee
|
$2.7 | $5.4 | $5.5 |
|
AUDUSD benchmark fee
|
$8.9 | $11.1 | $9.8 |
|
EURCHF benchmark fee
|
$0.0 | $0.0 | $0.0 |
|
EURGBP benchmark fee
|
$10.4 | $9.5 | $10.4 |
Forex fees are calculated for a $20,000 trade using 30:1 leverage
FXCM CFD commissions and spreads
FXCM CFD fees are low. FXCM CFD commissions and spreads for different assets are charged as per the table below.
|
S&P 500 CFD fee
|
The fees are built into the spread, 0.4 points is the average spread cost during peak trading hours. |
|---|---|
|
Europe 50 CFD fee
|
The fees are built into the spread, 1.9 points is the average spread cost during peak trading hours. |
|
Apple CFD
|
The fees are built into the spread, 0.23 is the average spread cost during peak trading hours in 2021 Q4. |
|
Vodafone CFD
|
Not available |
Below you can see how FXCM CFD fees compare with those of Forex.com and Pepperstone.
|
S&P 500 index CFD fee
|
$3.4 | $3.2 | $3.2 |
|---|---|---|---|
|
Euro Stoxx 50 index CFD fee
|
$3.5 | $3.3 | $3.2 |
|
Apple CFD
|
$1.2
|
$10.1
|
$0.7
|
|
Vodafone CFD
|
-
|
$13.1
|
$2.2
|
CFD fees are calculated for a $2,000 trade using 20:1 leverage for stock index CFDs, and 5:1 leverage for stock CFDs
FXCM financing rates
FXCM financing rates are low. They make up a significant part of your trading costs if you hold your position for a long time.
Check out how FXCM financing rates compare with those of Forex.com and Pepperstone.
|
EURUSD financing rate
|
1.8%
|
2.0%
|
2.1%
|
|---|---|---|---|
|
GBPUSD financing rate
|
0.3%
|
0.8%
|
1.0%
|
|
S&P 500 CFD financing rate
|
8.4%
|
7.9%
|
7.9%
|
|
Euro Stoxx 50 CFD financing rate
|
6.9%
|
6.4%
|
6.4%
|
|
Apple CFD financing rate
|
10.6%
|
7.9%
|
7.9%
|
|
Vodafone CFD financing rate
|
-
|
7.7%
|
7.7%
|
FXCM non-trading fees
In addition to trading fees, it's important to see if FXCM charges a fee on deposits, withdrawals, account maintenance, and inactivity. We compared these fees levied by FXCM with its two closest competitors.
|
Deposit fee
|
$0
|
$0
|
$0
|
|---|---|---|---|
|
Withdrawal fee
|
$0
|
$0
|
$0
|
|
Account fee
|
No
|
No
|
No
|
|
Inactivity fee
|
Yes
|
Yes
|
No
|
CFD fees are calculated for a $2,000 trade using 20:1 leverage for stock index CFDs, and 5:1 leverage for stock CFDs
Bottom line
Hopefully, by now you have a clear picture of the commissions, spreads, financing rates, and non-trading fees charged by FXCM and its closest competitors. To learn more about FXCM, check out this detailed review. If you would like more information about fees in general, read this article about brokerage fees.
If you're not sure which broker to choose, get a personal recommendation from our broker recommendation algorithm or compare brokers with our broker comparison table.
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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.
