Yes, our review of FXCM shows that the broker is regulated by FCA, FSCA, and ASIC. These are three top-tier authorities, which impose stringent rules and safeguarding policies for clients. As such, you can rest assured that FXCM is a transparent and responsible broker.

No, FXCM is not a scam as it is regulated by a number of authorities worldwide and has been in business for more than 20 years. It is also a Leucadia company, which is the former name of the Jefferies Financial Group Inc. (NYSE: JEF). Having the backing of an exchange-listed company makes FXCM a trustworthy forex broker .

Popular in

96.5

Points

Overall

Points

Commissions & Fees

Points

Licensing & Safety

Points

Platforms & Tools

Each broker we review is judged on the same 10 key areas. We include different instruments and holding positions overnight. We check not only the licenses the broker claims to have for different countries, but whether these licenses are up to date too. We look for specific features such as customizability and trading signals.

60+Number of instruments

Open Account

100,000+ Traders

Regulated by

FCA

FSCA

ASIC

Overview
Fees and commissions
Safety
Opening an account
Account types
Trading Platforms
Markets and products
Research tools
Education and training
Customer support
Our verdict

FXCM review

Q: What is the minimum deposit at FXCM?

The minimum deposit to open an account at FXCM is €300 in Europe, which is slightly higher in comparison to other brokers . For those outside of the EU, this drops to $50. Following the account opening, you can deposit $50 minimums via a debit or credit card which is typically lower than average.

Q: Does FXCM charge commission?

No, FXCM does not charge commissions. Instead, you will be charged spreads when you make a trade. Fortunately, FXCM spreads are competitive across all account types and asset classes, and you can even benefit from discounts should you open an Active Trader account.

Q: What FXCM account types are there?

FXCM keeps it simple by offering just one main account type with spreads starting at 1.3 pips. It also offers an Active Trader account for more high-volume traders. This includes better conditions on spreads as well as a dedicated support team and a complimentary VPS hosting.

28 October 2020 - Kate Leaman

Our FXCM review team found that this broker has a long track record, having been in business since 1999. Not only is FXCM regulated by the FCA, ASIC, and FSCA, but it is also a Leucadia PLC. Company. Leucadia is listed on the NYSE, providing additional peace of mind. You can trade forex, shares, indices, commodities, and cryptocurrencies, most of which are offered as CFDs as well as Trading Baskets. Over its two-decade history, FXCM has earned numerous awards, including Best Trading Tools and Best Education from the Online Personal Wealth Awards 2020.

Trade more than 60 instruments
Offers forex and stock baskets, plus CryptoMajor
Regulated and licensed by the FCA, FSCA, and ASIC
Best broker for advanced trading tools
Other brokers offer more instruments

FXCM overall scores

In this review, you can find all the information you need to decide whether FXCM is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how FXCM scored in each of our high-priority categories.

Commissions & Fees

96 Points

Payments

94 Points

Licensing & Safety

97 Points

Customer Service

95 Points

Trading Platforms & Tools

99 Points

Education

98 Points