With that said, your first deposit may take 2 or more business days to complete. If you do encounter any issues, then there is a full tutorial provided by FXCM with text included, on how to deposit funds. As with all Islamic accounts in the industry, in order to remain compliant with Sharia law, no swap fee is charged. In return, you may experience a slightly higher spread on assets traded through this account type. The FXCM spread betting account is perfect if you are interested in spread betting.
Trading Platform Screenshots
Due to their inherent value, legions of forex, futures and equities traders frequently incorporate trading signals into their financial game plans. Just make sure you understand the risks and that results cannot be guaranteed. FXCM obtains its pricing from premium liquidity providers which includes global banks and financial institutions.
FXCM Leverage And Margins
More, the mobile app offers a top bar statistics toggle which users can tap to switch on or off — this is the simplified equivalent of the top bar on the desktop platform. The mobile app also allows users to create entry orders, where traders have to define the amount, the rate, stop/loss limit, and trade type. Alongside the CryptoMajor basket, there are two other types of baskets that allow traders to speculate on collective products’ performance in the market.
User Experience
In case of an unexpected market occurrence that results in a negative balance, the broker will not request the respective amount from its clients and will bring their account balance back to zero. At the same time, since FXTM is a member of the Cyprus Investor Compensation Fund, its clients will be compensated in the event of FXTM’s insolvency. All ECN accounts are suitable for trading styles such as scalping as well as for traders who employ expert advisors (EAs).
One of the key features of the platform is the free professional charting tool known as Marketscope 2.0 which consists of price alerts, charts and a wide selection of indicators. One of the key features of Marketplace is the ability to open and manage all your trades directly from the charts. This means you can perform all your trading analysis, opportunity identification and order execution all in one place. This simplified trading process makes the platform a great tool for beginner traders. Although crypto products are offered by both brokers, retail traders in the UK are no longer able to trade cryptocurrencies.
- This spread will drop even more to a starting point of 0.2 pips for EUR/USD if you qualify for the active trader program.
- Micro contracts are also available which can be suitable for lower budgets and margin requirements.
- This adds to the already very accessible nature of the trading platform and it is an excellent addition to the FXCM offering.
- FXCM provides customer support via live chat, phone, and e-mail, with free international dials.
- I was impressed with the amount of free educational content that FXCM has available.
These include 3 energies assets, 3 metals, and 3 agricultural commodities. The FXCM withdrawal methods available match exactly those that are available for deposits. This means you can use bank wire transfers, credit/debit cards that are Visa or MasterCard, Union Pay, and eWallets in the form of Neteller or Skrill. Withdrawals may take up to 48 hours to complete and again there is a withdrawal tutorial video available if you encounter problems.
FXCM offers a decent selection of tradable assets, excellent pricing and high-quality customer service that few other online brokers can match. FXCM also provides a decent selection of top-quality trading platforms its clients can operate through. Beginning traders can also access https://forexhero.info/ various options to help them learn and enhance their trading skills. Overall, both forex brokers offer account types that are suitable for beginners and active traders. However, FXTM’s offering includes a more diverse list of account types that cater to every conceivable need.
The tradingview software is excellent for research and can help you very much in identifying market patterns. On the more traditional trading side, FXCM allows both scalping, and hedging, and of course, you can open a spread betting account if you are trading under the UK entity of the company. There are three of these available, the USD basket, the JPY basket, and the Emerging Markets basket. These baskets reflect the change in a currency against others which may influence that particular market. The only exception here is if you are depositing in a non-base currency at which time you may incur a currency conversion fee.
The list of investment products isn’t impressive compared to the other big names in the forex world. FXCM offers users five cryptocurrencies that are provided through CFDs. These are Bitcoin, Etherium, Litecoin, Ripple, and Bitcoin Cash ABC. Spread pricing data is available on the spreads cost page on their website. There are no side-by-side comparisons to help users determine the real cost of the trade, though.
We have in-depth guides on MetaTrader if you’d like to learn more; check out our guide to MT4, or read our in-depth guide to MT5. In terms of mobile charting indicators and studies FXCM has 59, compared fxcm broker to the industry average of 49. Mobile charting indicators can be a useful tool to help traders analyze price trends, identify potential entry and exit points, and make informed trading decisions.
Overall, the platform is recognized for its support of over a dozen languages, ease of use, and strong reputation. Withdrawals are completed via credit or debit cards or bank transfers. The amount you withdraw to a debit/credit card cannot exceed the amount originally deposited.
He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go.
FXCM offers two VPS solutions, charged at $30 or a currency equivalent per month. Traders who exceed $500K notional trading volume for three consecutive months will get the fee reimbursed. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade.