Top Features
- Full Hedging
- Funding by Credit Card
- Microlot Trading (FXCM Micro)
Least Liked Features
- No trading on US holidays
Demo Accounts
The FXCM demo account is very easy to open. It performs very much like the live account. It is sadly limited to only 30 days.Customer Service
FXCM offers customer service by email, phone, and live chat. The customer service at FXCM has been a little slow the few times I have needed to contact them by email. Overall the customer service speed is fair, but not great. Spreads
FXCM provides variable spreads, which means that spreads can change depending on market conditions. Spreads can widen without warning. In the case of FXCM, not all of their spreads are competitive and their spreads can expand widely depending on which markets are open and which currency pairs you are trading.Leverage
FXCM allows 100:1 for standard accounts, 200:1 for mini accounts, and 400:1 for micro accounts
Currency Pairs
- AUD/CAD
- AUD/CHF
- AUD/JPY
- AUD/NZD
- AUD/USD
- CAD/JPY
- CHF/JPY
- EUR/AUD
- EUR/CAD
- EUR/CHF
- EUR/GBP
- EUR/JPY
- EUR/NZD
- EUR/TRY
- EUR/USD
- GBP/AUD
- GBP/CAD
- GBP/CHF
- GBP/JPY
- GBP/NZD
- GBP/USD
- NZD/JPY
- NZD/USD
- USD/CAD
- USD/CHF
- USD/HKD
- USD/JPY
- USD/SGD
- USD/TRY
- USD/ZAR
Charting Package
FXCM comes standard with a Marketscope charting system integrated into the trading platform. Marketscope comes with many technical indicators and is highly configurable in terms of colors and style. It has a nice feature that will allow you to open 3 charts of the same currency pair with different time frames and link them together. With the charts linked, you can change the currency pair on one chart and all the charts will also change. Ease of Opening an Account
I have had two separate experiences with FXCM in regards to opening an account. On the first account, even though I had funded the account, there was a 5 day delay in the account becoming tradable. I lost a week of trading time. The second account was open and tradable within 24 hours. I even received a phone call from a representative within 10 minutes of submitting the application.Overall Grade: B
FXCM is a reliable broker. The hedging feature allows great flexibility for scalpers in particular. The spreads are ok, not the greatest for all currency pairs, but reasonably tight spreads most of the time on the majors. Customer service seems dependable in most cases and the platform is very stable.
