FXCM App Review 2025- Pros & Cons Revealed

Here is an example so you better understand how FXCM rebates work for the Active Trader accounts. Let’s say you trade EUR/USD and you reach 400 million in notional volume traded in one month. This means you have reached Tier 5 and you will receive $25 per million traded. The spread on EUR/USD is usually 0.2 pips for Active Trader accounts but can fluctuate (can go higher or lower).

❖ How to open an FXCM account

• To see a list of the top MT4 brokers, see our comparison of MT4 brokers.
• These are built into the Trading Station platform, so they’re convenient.
• You must also ensure the FXCM broker’s profile, trading tools, fees and regulation aligns with your needs and goals.
• Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.
• These allow you to speculate on the performance of a certain sector that contains a number of individual stocks.
• On top of its desktop and web-based platforms, FXCM also provides a selection of mobile trading apps that include the MetaTrader4, the Trading Station app, and plenty of plugins for mobile application.

Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. These products may not be suitable for everyone and you should ensure that you understand the risks involved. UK citizens can use FXCM to trade currency pairs, index CFDs, commodity CFDs, and other assets.

• Our entire FXCM review for beginners covers everything you need to know about trading via FXCM.
• If you decide to close your FXCM account, it’s important to do so with the FXCM broker customer support and obtain confirmation that no remaining FXCM fees are due.
• FxScouts is committed to ensuring protection of all personal information that we hold, and to provide and to protect all such data.

He has worked within the very best of the financial industry producing numerous training resources. He is an experienced copywriter with immense financial background. Assuming that all the details on your account are correct, it can take up to 2 business days for FXCM to process fxcm canada review your withdrawal request. After the withdrawal is processed, the estimated time to receive payment depends entirely on the payment method that you’re using.

How FXCM Fees Compare Against Other Brokers

It’s worth noting, however, that other factors, such as market volatility and liquidity, can still affect the execution of FXCM trades. Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee. It’s recommended that you check the FXCM website before signing up.

Test the chat service yourself.A responsive chat service from FXCM should be a positive support experience for all FXCM users, saving you from waiting days for an email response. Brokers regulated by the Financial Conduct Authority (FCA) must offer negative balance protection as a standard feature. With negative balance protection, FXCM trading losses are always limited to the current balance of funds in the trader’s account.

Accounts & Banking

Support is available 24/5 via live chat, phone, email, and drop-in. Support is available in 19 languages, and FXCM’s phone support is available for free for residents of 42 countries. Note that only some of the market analysis materials are translated into Malay.

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Traders are then directed to FXCM’s secure server to complete the online application. This requires filling in one’s name, email address, and selecting their preferred base currency (click here for more on FXCM’s base currencies). Traders are also required to fill in their contact information, employment status, and financial status.

These allow you to speculate on the performance of a certain sector that contains a number of individual stocks. By holding a basket of stocks, you can reduce your exposure to one individual stock and diversify your portfolio. These similar brokers are the highest rated alternatives to FXCM. Pricing is competitive, and the range of markets covers most essentials. Instead of sitting on hold, you can request a phone call through the site and be contacted directly.

FXCM is an excellent solution for beginners and experienced traders alike. Unlike most brokerage firms in the industry that offer one mobile trading apps, FXCM has a huge advantage by offering two choices, the TradingStation, and the MetaTrader4. On top of that, you get commission-free and competitive spreads on a solid selection of currency pairs, commodities, shares, indices, cryptocurrencies, and ready-made baskets. FXCM has a dedicated education section for beginner traders as well as a research centre for active traders.

FXCM offers two VPS solutions, charged at 30 USD or a currency equivalent per month. Traders who exceed 500K USD notional trading volume for three consecutive months will have the fee reimbursed. Malaysians can deposit and withdraw funds either by credit/debit card, Skrill, Neteller, or via an EFT/Bank Wire Transfer. FXCM does not charge administration fees for deposits via credit card, debit card, and bank transfer.

Is FXCM a market leading broker?

FXCM offers a limited variety of assets, including Forex, indices, metals, energies and cryptocurrencies. Overall, FXCM’s account-opening process is fully digital, but it takes longer than usual for the support team to verify one’s account. Lastly, traders are required to upload documents to verify one’s identity and residency. You can upload a copy of your ID/passport for verifying your identity, and a bank statement/utility bill for verifying your residency.

Users can contact customer support via email, live chat, and phone. The demo account and the lessons are great if you are a beginner at forex trading and you want to practice with virtual money. Trading Station mobile and MT 4 together provide a stable mobile trading experience, packed with features like the comprehensive trade ticket that allows for one cancels other orders. FXCM is a trustworthy broker that has existed for over 20 years and remains popular among traders globally because of its impeccable services and tools.

Join thoughts.money in this honest and 100% unbiased FXCM review. Thoughts.money is here to help you make well-informed decisions when searching for the best Forex broker online. Other deposit methods you can adopt are Neteller, Skrill, Rapid Transfer, and iDeal.

This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time. The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.