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FXCM

Updated

5 months ago

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Last updated on August 26, 2025

Regulator Illustration

FXCM

FXCM

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4 people chose this broker

Foundation date:

1999

Minimum deposit:

$50

NBP:

Yes

Inv Prot:

Yes

Not Available
Unfortunately, this broker is not available to residents of United States.
Why choose FXCM

FXCM (Forex Capital Markets) is a globally recognized Forex and CFD broker established in 1999, trusted by traders worldwide for over two decades. Regulated by top-tier authorities including the Financial Conduct Authority (FCA) in the UK, ASIC in Australia, CySEC in Cyprus, and FSCA in South Africa, FXCM offers a safe and transparent trading environment.

The broker provides access to a wide range of instruments including Forex pairs, indices, commodities, cryptocurrencies, and shares. FXCM stands out with its proprietary Trading Station platform, while also supporting MetaTrader 4 and TradingView Pro integrations for enhanced charting and execution.

With a low minimum deposit of just $50, flexible leverage (subject to regulatory jurisdiction), and competitive spreads, FXCM caters to both beginners and experienced traders. The broker also offers extensive educational resources, research tools, and market insights, helping traders make informed decisions.

Whether you’re looking to trade on desktop, mobile, or via APIs for algorithmic strategies, FXCM delivers a combination of technology, regulation, and market access that makes it a strong choice for serious traders.

Pros

  • Regulated by multiple top-tier financial authorities (FCA, ASIC, CySEC, FSCA)
  • Regulated by multiple top-tier financial authorities (FCA, ASIC, CySEC, FSCA)
  • Wide range of trading instruments including forex, indices, commodities, shares, and crypto
  • Competitive spreads with transparent pricing
  • Strong educational and market research tools for all skill levels
  • Strong educational and market research tools for all skill levels

Cons

  • Limited bonus or promotional offers compared to some competitors
  • Higher spreads on less-liquid instruments
  • Some advanced features restricted based on regulatory jurisdiction
Comparing FXCM with Other Top Brokers in United States
Not Available

FXCM’s pricing combines tight floating spreads with low commissions on FX (on spreads-plus-commission accounts), while most Share CFDs include costs in the spread with no extra commission. Index CFDs are spread-only. Typical reference points: EUR/USD ~0.7 pips (avg), SPX500 target spread 5 points, and GER30 target spread 1.3 points. Banking fees are transparent: $0 deposit fee from FXCM’s side, $40 for bank-wire withdrawals (card withdrawals free), and a yearly inactivity fee up to 50 units of account currency after 12 months of no activity.

Pros

  • Competitive FX pricing structure (spreads + low commissions on eligible accounts).
  • Share CFDs: no extra commission; costs included in the spread.
  • Active Trader discounts and rebates available.

Cons

  • Bank wire withdrawals carry a fixed $40 fee (cards free).
  • Inactivity fee up to 50 units/year after 12 months without activity.
  • SPX500 target spread 5 points (not the lowest among peers).

EUR/USD ~0.7 pips (avg), SPX500 5 pts target, GER30 1.3 pts target; $0 deposit fee, $40 bank-wire withdrawal, inactivity up to 50 units/year.

FX fees
Broker
FXCM — Best
Tickmill — Best
Pepperstone — Best
Index CFD fees
Broker
FXCM — Best
Tickmill — Best
Pepperstone — Best
Stock CFD fees
Broker
FXCM — Best
Tickmill — Best
Pepperstone — Best
Deposit & Withdrawal, Inactivity Fee
Broker
FXCM — Best
Tickmill — Best
Pepperstone — Best

Spread-only on indices & share CFDs; FX can be spreads-plus-commission on eligible accounts; transparent banking fees.

FXCM Regulation Overview

FXCM (Forex Capital Markets) operates under multiple Tier 1 licenses. Its UK branch is regulated by the Financial Conduct Authority (FCA), which mandates segregated client funds and provides up to £85,000 compensation via the FSCS. In Australia, FXCM is licensed by the Australian Securities and Investments Commission (ASIC). For the EEA, FXCM holds a CySEC license with up to €20,000 investor compensation. South African clients fall under FSCA oversight.

Why This Matters

Coverage by top-tier regulators boosts FXCM’s trust rating and ensures transparency, legal oversight, and protection against broker insolvency.

Summary of Advantages and Limitations
  • Advantages: Multiple Tier 1 licenses (FCA, ASIC), strong investor protection, transparent operations with regular audits.
  • Limitations: Leverage restrictions for retail traders in the UK/EU (FCA/CySEC); products can vary by jurisdiction.

Pros

  • Multiple Tier 1 licenses (FCA, ASIC)
  • Client funds segregated under FCA’s CASS rules with FSCS coverage up to £85,000"
  • Negative Balance Protection for retail clients — prevents losses beyond account balance
  • High capital standards and risk management policies in place (real-time margin monitoring)

Cons

  • Investor protection limited—£85,000 (UK), €20,000 (EU); no coverage outside those areas
  • Professional clients waive certain protections like NBP and FSCS eligibility
Is FXCM regulated?

Yes. FXCM is regulated by several respected authorities across multiple jurisdictions.

Main Regulatory Authorities
Is FXCM safe?

FXCM is considered safe due to oversight by multiple top-tier regulators, segregation of client funds, and its backing as part of the Jefferies Financial Group, listed on the NYSE. Retail clients benefit from negative balance protection and stringent audit/reporting standards.

How you are protected

Investor Compensation Schemes
  • UK: Up to £85,000 via FSCS
  • EU: Up to €20,000 via ICF (CySEC)
  • Australia & South Africa: No statutory scheme; full client-fund segregation applies.
Legal Entity
Regulator Name Financial Conduct Authority
Country of Clients UK
Regulator Abbreviation FCA
Regulation Level Tier-1
Investor Protection Amount £85,000 (FSCS)
Negative Balance Protection Yes, retail only

Risk Management Policies

FXCM applies negative balance protection for retail accounts, performs regular stress tests to ensure capital adequacy, and holds client money with Tier 1 banks. These controls help minimize risks in volatile market conditions.

Regulatory Policy Compliance

Under FCA and ASIC rules, FXCM must segregate client funds, provide detailed risk disclosures, and submit periodic audited financial statements. This framework enforces transparency and alignment with international best practices.

Find your safe broker

Overview

FXCM supports bank wires, cards (Visa/Mastercard), and popular e-wallets like PayPal, Skrill and Neteller. Card and wallet deposits are typically near-instant or within 1 business day, while bank wires depend on your bank and whether the transfer is domestic or international. Availability of methods and limits may vary by region and entity (UK/EU/AU/etc.).

Processing Times & Fees
  • Deposits: Card deposits are typically processed within 1 business day (often sooner). Bank wires usually credit within 1–2 business days (domestic) or 3–5 business days (international).
  • Withdrawals: FXCM targets 1–2 business days to process requests. Card refunds typically reach the card within ~5 business days (may take up to one billing cycle). Bank wires usually arrive within 1–2 business days (domestic) or 3–5 business days (international).
  • Fees: FXCM charges $0 for card withdrawals; bank wire withdrawals carry a $40 fee. FXCM does not charge administrative fees for deposits, but your bank/wallet may charge conversion or transfer fees.

Regional rails (e.g., SEPA for EUR, BACS for GBP, EFT for AUD) are available when your account currency and bank location qualify.

Pros

  • Near-instant funding via cards & e-wallets (typically processed within 1 business day for cards; PayPal/Skrill/Neteller supported).
  • $0 FXCM fee for card/PayPal deposits; $0 FXCM fee for card withdrawals.
  • Clear withdrawal timelines (card refunds often within 5 business days; wires 1–5 business days depending on domestic vs international).
  • If you funded by card, principal must be refunded back to the same card before other methods are allowed.

Cons

  • Bank wire withdrawal fee: $40 per request.
  • Method availability can be region-dependent (e.g., SEPA/BACS/EFT only for specific account currencies/countries).
Account Base Currencies
FXCM Base Currencies
USDEURGBP
AUD  
Supported Currencies

FXCM offers accounts in multiple base currencies. Common options include USD, EUR, GBP and AUD. You can open an additional account in a different base currency from within MyFXCM.

Broker Number of Base Currencies
FXCM 4
Tickmill 5
Pepperstone 6
Cards & E-Wallets

Cards (Visa/Mastercard; in Australia also Discover) and e-wallets like PayPal (retail only), Skrill and Neteller provide fast funding and—if used for deposit—can also be used for withdrawals. Method availability and limits vary by region and account currency.

Bank Transfers & Regional Rails

Bank wires are reliable for larger amounts; domestic transfers typically clear faster than international. Where eligible, regional payment rails like SEPA (EUR), BACS (GBP) or EFT (AUD) may be available for withdrawals. Note that some “local bank transfer” options post in USD on receipt, with conversion to your account’s base currency.

Deposit Options
Broker
FXCM
Tickmill
Pepperstone
Withdrawal Options
Broker
FXCM
Tickmill
Pepperstone
Method Details Comparison
Legend: Supported Not supported
Broker Supported Deposit Time Withdraw Time Deposit Fee Withdraw Fee Notes
FXCM
Tickmill
Pepperstone
Good to Know
  • For AML reasons, FXCM generally returns principal to the original funding source (e.g., back to the same card).
  • PayPal withdrawals are available if you funded via PayPal; the same applies to Skrill and Neteller.
  • Method availability, limits and processing times can vary by country, entity and bank/wallet provider.

See your MyFXCM portal for the methods available to your account and any provider-specific fees.

Overview

FXCM offers two main live account tiers designed to cover most trading needs. The Standard account suits most traders with a low minimum deposit and low spreads plus commissions pricing. The Active Trader tier is built for high-volume clients and features reduced spreads, tiered commissions and monthly cash rebates.

The minimum initial deposit to open an individual Standard account is 50 CCY (e.g., $50/€50/£50). Active Trader typically requires a minimum equity of $25,000 and sufficient monthly notional volume to qualify for the tiered pricing/rebate program.

Method availability, pricing and features can vary by region and FXCM entity (UK/EU/AU/others).

Pros

  • Low minimum deposit (50 CCY) for Standard accounts.
  • Active Trader tier with reduced spreads, tiered commissions and cash rebates.
  • You can open additional accounts in a different base currency via MyFXCM.

Cons

  • Active Trader requires higher equity (about $25,000) and volume to qualify for tiered pricing.
  • Product availability, features and limits may vary by region/entity.
Can you open an account?
Availability icon

Unfortunately, this broker is not available to residents of United States.

Not Available
Unfortunately, this broker is not available to residents of United States.
Account Types Overview

Standard: Low spreads plus commissions pricing on FX & CFDs. Suitable for most traders with a 50 CCY minimum initial deposit for individual accounts.

Active Trader: Designed for high-volume trading. Reduced spreads with tiered commissions and monthly cash rebates based on notional volume; generally requires $25,000 minimum equity and qualifying monthly volume.

Available account types at FXCM
Account Name Min Deposit Spread from
Standard 50 CCY (USD/EUR/GBP etc.) Low spreads + commissions (variable)
Active Trader $25,000 equity (typical) Reduced spreads + tiered commissions; monthly cash rebates
How to open your account

You can open an account in the following steps:

  • Start application: Click Open Live Account and begin your secure application.
  • Complete verification: Provide personal details and documents as requested, then submit your application.
  • Fund & trade: Log in to MyFXCM, deposit funds and start trading (you can also request additional accounts later).

Product FXCM Tickmill Pepperstone
Forex (#) 0 55 0
Stocks (#) 0 1200 0
Indices (#) 0 0 0
CFD (#) 0 321 0
Funds (#) 0 0 0
Futures (#) 0 44 0
ETF (#) 0 55 0
Commodity (#) 0 33 0
Bonds (#) 0 0 0
Options (#) 0 44 0
Cryptos (#) 0 33 0
Can you trade a specific instrument?

Broker

Instrument (symbol)

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This table compares trading platforms (desktop & mobile) offered by each broker.
Platform FXCM Tickmill Pepperstone
MetaTrader 4
MetaTrader 4 Mobile
MetaTrader 5
MetaTrader 5 Mobile
TradingView
TradingView Mobile
Web Trader
cTrader
cTrader Mobile

Pros

Cons

This table compares the educational resources provided by each broker. It covers the availability of tutorials, courses, webinars, and other learning materials.
Education Resource FXCM Tickmill Pepperstone
Learning Center
Webinars
Tutorials & Guides
Video Courses
Demo Accounts & Simulators

This section compares key research tools like advanced charting, news feeds, sentiment indicators, and other insights offered by each broker.
Research Tool FXCM Tickmill Pepperstone
Economic Calendar
Market News Feed
Sentiment Analysis
Advanced Charting
AI-Powered Insights
Backtesting Engine
Expert Commentary
Tools for Every Trader
💡 Pro Tip: AI-driven insights, real-time sentiment, and expert commentary can give you an edge in volatile markets.

Pros

  • No pros added.

Cons

  • No cons added.
Learn how to use research tools effectively →

No unique innovation or extra features were enabled for this broker.

Innovation in trading platforms helps elevate broker competitiveness. Tools like proprietary dashboards, mobile UX, gamification, and API integration offer a more advanced and flexible user experience.

Pros

Cons

This section can be expanded later for user reviews, ratings, or testimonial integration.

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John Doe

Trading • Safety • Market Analysis

Author of this review

I bring extensive financial expertise as one of TradeSmarty's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance.

Everything you find on TradeSmarty is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback.

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