FCM Forex Broker Review
FCM stands for Fidelis Capital Markets, and is an FX broker that was founded in Cyprus in 2013. It is also the trade name of SN Financials, a Cyprus based investment firm, licensed and regulated by CySEC. Quite a newcomer to the world of Forex trading, but nevertheless one that is gaining a significant reputation. This particular brokerage firm also operates within the guidelines of MiFID, and is recognised by a number of other regulatory bodies. These include the FCA in the UK, BaFIN in Germany, MFSA in Malta, and CNMV in Spain. With FCM Forex, traders can choose to trade foreign currencies, indices, CFDs and metals, all with the best possible spreads.
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The benefits of working with FCM Forex
- No dealing desk to get in the way, as this is a true STP broker
- No requotes and fast execution of orders
- Spreads start as low as 0.0 pips
- 400:1 leverage is available
- Minimum deposit only $5
- A range of free trading tools
These are just a few of the advantages FCM Forex can offer. Time to look at this broker in a little more detail.
Is MT4 your favourite trading platform?
The MetaTrader 4 trading platform has been around for a number of years, and even though MT5 has been developed, it is still waiting to achieve the popularity of its sister MT4. It is the number 1 choice for a large number of traders, and is possibly one of the reasons it has been chosen by FCM Forex. However, you may be interested in some of the benefits of this globally renowned trading platform.
- Supports trading in all financial markets
- Comes ready equipped with tools and resources
- MT4 allows traders to analyse price movements and trends
- Expert Advisors can be created and utilised
- Multiple accounts can be managed from one platform
- Direct trading from charts, with instant execution
- Completely safe and secure
- User-friendly interface
Those of you who have jumped on board the latest trend in market trading, social trading, will be pleased to know that FCM Forex have picked the best social trading platforms for the convenience of their clients. ZuluTrade, SignalTrader, and myfxbook are readily available, and not just when you’re trading at home. There is a social trading app that allows you to watch other traders and copy their trades, without missing a single moment.
A good choice of account types with FCM Forex
What kind of trader are you? Do you prefer to trade smaller lot sizes, or want to risk a small amount to begin with? Or do you want an account that offers ECN trading? Take a look at the details of the FCM Forex accounts, and you’ll probably find something to suit you.
Mini account – Minimum deposit $5, Minimum lot size 0.01, maximum leverage 400:1,
Standard account – Minimum deposit $1,000, minimum lot size 0.1, maximum leverage 200:1
VIP account – Minimum deposit $25,000, minimum lot size 1.0, maximum leverage 100:1
ECN Classic account – Minimum deposit $1,000, minimum lot size 0.01, maximum leverage 200:1
ECN Gold account – Minimum deposit $25,000, minimum lot size 1.0, maximum leverage 100:1
Islamic account – Swap free accounts are available for those who are followers of Islam, with the same trading conditions as the accounts above
Demo account – If you want to get a little practice in, or experience what FCM has to offer before risking real money, a demo account is a great place to start
FCM Forex support a number of different payment methods for those who are ready to start trading. They include wire transfers, Skrill, Neteller, and WebMoney. No fees are charged on payments by FCM Forex, but there may be additional fees levied by third parties.
FCM Forex offer a 100% welcome bonus
FCM Forex are no different than many other brokers, and use bonuses to attract new customers. Currently there is a really good introductory offer in the form of a 100% welcome bonus. Up to $5,000 is available when you open a live account, but it does come with the inevitable terms and conditions. It is only for trading and cannot be withdrawn, and the recipient of the bonus has to trade as many lots as the bonus received, divided by two. There are a few other conditions that can be read on the company’s website.
Before we finish this FCM Forex review, we’d like to briefly mention the education section. As there is a lot there for both beginners and more experienced traders who would like to hone their skills. For example:
- Trading tools
- Beginners course
- MT4 tutorials
- Forex eBook
- Advanced eBook
- An introduction to ECN trading
- An intro to social trading
- Learn about the global economy and how it affects the markets
- Trading strategies
If you like the look of FCM Forex as much as we did, get a better feel by opening a demo account. But we feel it won’t be long before you start trading for real.