FXCM Broker Review

FXCM which is registered in the name of Forex Capital Markets LLC was established in the year 1993 and is one of many old companies which have been in the forex market for long. The company started their internet based online trading service only in the year 2003 and has reached many traders globally. They have three trading platforms out of which 3 is in house trading platform while the third one is the most used platform in the forex market that is Meta Trader 4. The three in house trading platforms include Active Trader, Trading Station II and Mirror Trader. The demo accounts also offers the same platforms but are limited to a use for 30 days. The company is also registered with NYSE which makes sure that the company will be there in the market for years to come. The company is liked by the professional as well as novice traders alike for its quality of service.

The company has its office in United States and is well regulated in Australia by ASIC, CFTC/NFA in USA, FSA in UK and by SFC in Hong Kong. This increases the reliability of the company and is liked by many traders. They allow traders from United States to trade from their account. The account currencies that are allowed include Australian Dollar, GBP, Euro, JPY, New Zealand Dollar and the United States Dollar. Their website and customer service is multilingual and is available in 12 and 11 languages respectively. Their service is excellent and they are well trained to handle trading queries of any type. They are very friendly and listen to the queries very patiently. The minimum deposit required to open an account with them is $2000 and the minimum position size is 0.01 lots. Their spread is fixed and hence the trader knows the cost of the trade before placing the order.

The reviews for FXCM show that it has overall a happy and satisfied customer. Most of their clients have written that it is one of the most reliable companies in the forex market. Their trading platform is excellent and that it offers them features which help them trade successfully. They allow many different account currencies in the trader’s account and are liked by many traders. Many of the traders who are from US like that they allow them to trade from their account. The traders like the fact that they allow scalping and also the use of Expert Advisor. They offer segregated account and is loved by many traders as it gives them the feeling that their money is safe. A few of the cons mentioned in the reviews is that they have very limited payment options and it should be increased. Secondly, the leverage offered by the company on all the trading instruments is only 1:50. Also, the minimum deposit required to open an account with them is $2000 and is quiet high amount for small traders. However, the overall reviews are good and the average rating given to the company by its users stands at 5.0 out of 10.

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