Question 1

Is FXCM regulated?

Accepted Answer

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.

Question 2

Is FXCM a scam?

Accepted Answer

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.

Question 3

What is the minimum deposit at FXCM?

Accepted Answer

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.

Question 4

Does FXCM charge commission?

Accepted Answer

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.

Question 5

What FXCM account types are there?

Accepted Answer

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.

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