Is FXCM free?

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. 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.

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

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 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.

All references on this site to "FXCM" refer to the FXCM Group.

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.

FXCM does not provide access to real stock trading on US markets. If you are looking for a zero-commission broker to trade on US stock exchanges, you can check our article detailing the best apps offered in this category of brokers. If you wish to stick with FXCM though, then you will find the fees they charge below.

Visit broker
73% of retail CFD accounts lose money

It's safe to say that FXCM's fees are low in general. They either don't charge a brokerage fee for things that other brokers do, or they only charge a small amount.

Here's a high-level overview of FXCM's fees

Visit broker
73% of retail CFD accounts lose money

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.

This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:

• Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
• A commission is either fixed or based on the traded volume.
• A spread is the difference between the buy price and the sell price.
• A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
• Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.

We compare FXCM fees with its closest competitors, Forex.com and Pepperstone.

Visit broker
73% of retail CFD accounts lose money

FXCM's trading fees are low, which makes it suitable for you even if you trade often (i.e. several times a week).

Let's break down trading fees according to the different asset classes available at FXCM.

Trading fees

FXCM's trading fees are low.

Forex fees

FXCM's forex fees are low.

Data updated on September 23, 2024

CFD fees

FXCM has low CFD trading fees.

Data updated on September 23, 2024

Currency conversion fee

FXCM will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..

Visit broker
73% of retail CFD accounts lose money

When it comes to non-trading fees, FXCM is a rather cheap broker.

Non-trading fees include various brokerage fees and charges at FXCM that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.

Data updated on September 23, 2024

Visit broker
73% of retail CFD accounts lose money

Usually, brokers don't charge anything for deposits, and FXCM is no different.

Data updated on September 23, 2024

Electronic wallets are available only for non-EU clients.

Visit broker
73% of retail CFD accounts lose money

FXCM generally doesn't charge a withdrawal fee.

Data updated on September 23, 2024

Electronic wallets are available only for non-EU clients.

The above-mentioned withdrawal fee depends on the withdrawal method you select.

Visit broker
73% of retail CFD accounts lose money

FXCM does apply an inactivity fee and it is $50 per year after one year of inactivity. Keep this in mind to avoid getting charged after a longer idle period. The fact that FXCM charges an inactivity fee makes it less ideal for you if you are a buy-and-hold investor.

The inactivity fee charged by FXCM is low.

Visit broker
73% of retail CFD accounts lose money

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.