FXCM Forex Broker Review
FXCM is one of the largest brokers in the world. Based in New York, FXCM is regulated by the CFTC and is a listed company in the NYSE, which lets you know this broker will continue to stand strong for the foreseeable future. FXCM offers over 50 different currency pair and caters to global investors who’re able to open accounts in USD, EUR, GBP, CAD, NZD, AUD, or JPY.
Only the best Forex brokers offer multiple platform options that cater to the beginner and advanced investor. Trading can be done through a Metatrader 4 download or a Trading Station download or web terminal, which comes with iPhone, iPad, and Android apps.
Compatible With Multiple Outside Platforms and Services
In case you need that extra edge to take your FXCM trading experience to the next level, FXCM is compatible with a number of highly-trusted external services. Through Mirror Trader, you can select thousands of pre-built trading strategies and follow the success of other traders – all with zero fees.
The wildly popular NinjaTrader platform, which is equipped with state of the art charting and drawing tools, analysis, and strategies, can also be synced to an FXCM account. Zulu Trade allows you to instantly copy other profitable investor’s trades, which effectively eliminates the need for analysis or emotions.
Opening An Account With FXCM
Opening an account with FXCM is simple and takes less than a few minutes. They offer three types of accounts, Mini, Standard and Active. The Mini account requires just a $50 minimum deposit and traders get access to a $10,000 monthly trading contest. The only downside to this type of account is that spreads are generally higher.
With the Standard account, which requires a minimum deposit of $5,000, traders get access to both smaller spreads and flexible commissions. FXCM’s Active account comes with tight spreads and low commissions, has no trading restrictions, and comes with significantly reduced trading costs.
FXCM is a trusted Forex broker who we highly recommend, the only downside is that they only offer Forex products, no stocks, options or futures are available. But other than this, FXCM’s wide variety available currency pairs combined with their ease of use makes them a standout broker