- Company Name: Forex Capital Markets LLC (FXCM)
- Website Address: http://www.fxcm.com
- Year of company's foundation: 1999
- Year of company's forex division foundation: 1999
- Regulated by: CFTC (U.S.), NFA Member (U.S.), FSA (UK), SFC (HK), ASIC (AUS), FSA/ACP Registered (France), CONSOB (Italy)
- Leverage*: 50:1 of the notional value of the currency pair
- Commissions: Bid /Ask
- Pip spread on majors: Typical spreads from 2.5 pips on major currency pairs
- Regular Account: Yes
- Minimum account size for Standard Account: $2,000
- Mini Account: Yes
- Minimum account size for Micro Account: $50
- Services: FXCM specializes in self-traded forex accounts with options available for all levels of trading experience. Micro accounts begin at only $50 and offer 1K lot sizes. Benefits include trading directly from charts, positive rolls at all margin levels, and free access to real-time proprietary trading signals. Non-USD denominated accounts are available. *Please keep in mind that, without proper risk management, this high degree of leverage can lead to large losses as well as gains.
- Languages: English, Arabic, Chinese, Farsi, French, German, Hebrew, Italian, Japanese, Korean, Portuguese, Russian, Spanish
- 24 hour trading: Yes
- Free demo account: Regular Demo Account , Active Trader Demo , CFD Demo Account
- Live support chat: Forex Sales, Customer Service, Forex Market
Headquarters: Financial Square, 32 Old Slip, New York, NY 10005
Country: United States
Forex Capital Markets (FXCM) is a forex broker that caters to both retail and institutional markets. Founded in 1999, FXCM is regulated by several of the world’s most respected financial authorities. At the heart of FXCM’s client offering is No Dealing Desk forex trading execution. Under this system, trades are executed back to back with one of many banks or financial institutions, which compete to provide FXCM with bid and ask prices, providing typical spreads 2.5 pips on major currency pairs. This model eliminates any conflict of interest between broker and trader by ensuring that there is no dealer intervention in trades. While an individual bank may try to skew its prices off the market, having multiple sources of liquidity can ensure that the bid/ask spread will remain competitive. This price competition decreases the potential for price manipulation by an individual bank, thereby providing competitive streaming prices to platforms offered by FXCM. At FXCM, prices are not subject to manipulation by a broker or a banks dealing desk.
FXCM Micro, a division of FXCM offering self-service accounts, allows traders to experience the excitement of the forex market with as little as $50.
FXCM’s top tier product, Active Trader, offers a level II type trading environment with up to ten levels of market depth for a liquidity view seen by market makers. Short-term traders have the advantage of seeing actual liquidity available at individual price levels.
FXCM Ltd’s (FXCM UK) CFD product allows traders to trade gold, oil and stock indices, along with forex on one platform. CFD’s are not available to US residents.
FXCM offers live support 24 hours a day, 7 days a week via phone, IM, and e-mail.
Risk Warning: Currency trading involves substantial risk of loss, read full disclosure.*Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
- Products Offered
- Self-Trading Forex Accounts
- Standard 10K accounts
- Segregated accounts through FXCM LTD (an FSA regulated entity) http://www.fxcm.co.uk/open-an-account.jsp
- CFD Accounts - Oil, Gold, Stock Indices
- Stock Indices
- * only non-US residents
- Spread Betting Accounts
- No Re-quotes
- Automated Trading
- Forex System Selector
- Non-USD Forex Trading Accounts
- Trading From Charts
- Placing trades directly from the charts
- No Dealing Desk†
- Transparent and fair execution. Every trade is executed back to back with one of the premier banks or financial institutions, which compete to provide FXCM with bid and ask prices. The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip or less for major currency pairs.
- Fractional Pip Pricing
- FXCM offers prices in tenths of a pip to provide lower spreads for popular currency pairs.
- MetaTrader 4
- All of the features of MetaTrader 4, plus the benefits of trading with one of the largest and most financially strong Forex Dealer Members.
- $50,000 Practice Trading Account
- You can test and evaluate trading strategies with no risk. You can access FXCM's client services staff 24 hours a day, 7 days a week, 365 days a year.
- Forex News
- DailyFX.com, FXCM’s free news Web site, is one of the world’s leading news and information sources for the currency trading community. With a wide international audience, it attracts over 8 million page views a month. DailyFX analysts produce 30 articles and reports every day on the latest changes in the currency market, and provide timely technical analyses and a close examination of promising chart formations. DailyFX also attempts to predict market moves and explains economic, political, and technical factors driving the market.
- Self-Trading Forex Accounts
Risk Warning: Currency trading involves substantial risk of loss, read full disclosure.
*Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
† Please note, FXCM Micro, in its discretion, may or may not offset individual transaction unlike transactions in most FXCM Standard accounts.