Introduction
If you’re looking for a reliable and trustworthy forex trading platform, FXCM is a name that’s hard to miss. With over 20 years of experience in the industry, FXCM has established itself as a leading online forex broker, offering a wide range of trading tools and resources to traders around the world. In this FXCM review 2023, we’ll take a closer look at the platform and see what it offers to traders.
Background of FXCM
FXCM was founded in 1999 and has since grown to become one of the largest forex brokers in the world. The company is headquartered in London, UK, and has offices in multiple countries, including the US, Australia, and South Africa. FXCM is regulated by multiple financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Financial Sector Conduct Authority (FSCA) in South Africa.
Trading Platforms
FXCM offers multiple trading platforms to its clients, including the popular MetaTrader 4 (MT4) and Trading Station platforms. MT4 is a widely used platform that offers advanced charting and analysis tools, as well as automated trading through expert advisors (EAs). Trading Station is a proprietary platform developed by FXCM, which offers a user-friendly interface and advanced trading features.
Account Types and Spreads
FXCM offers three main account types: Standard, Active Trader, and Professional. The Standard account is suitable for beginners and offers competitive spreads starting from 1.3 pips. The Active Trader account is designed for high-volume traders and offers tighter spreads starting from 0.2 pips. The Professional account is for professional traders and offers even tighter spreads, as well as access to institutional-grade trading tools and resources.
Education and Resources
FXCM offers a wide range of educational resources to its clients, including webinars, video tutorials, and trading guides. The platform also offers a demo account, which allows traders to practice their trading strategies without risking any real money. Additionally, FXCM offers a range of trading tools, such as the Trading Signals service, which provides real-time trade ideas from professional traders.
Customer Support
FXCM offers 24/7 customer support to its clients through multiple channels, including live chat, email, and phone. The platform also offers a comprehensive FAQ section, which covers a wide range of topics related to forex trading.
Regulation and Security
FXCM is regulated by multiple financial authorities, which ensures that the platform adheres to strict standards of transparency and security. The platform uses advanced encryption technology to protect its clients’ personal and financial information, and all client funds are held in segregated accounts to ensure maximum protection.
Pros and Cons of FXCM
Like any trading platform, FXCM has its advantages and disadvantages. Some of the pros of using FXCM include its wide range of trading tools and resources, competitive spreads, and reliable customer support. Some of the cons include its limited selection of trading instruments and the fact that it charges fees for certain services, such as withdrawals.
Conclusion
Overall, FXCM is a reliable and trustworthy forex trading platform that offers a wide range of trading tools and resources to its clients. Whether you’re a beginner or a professional trader, FXCM has something to offer. With its advanced trading platforms, competitive spreads, and comprehensive educational resources, it’s no wonder why FXCM is a popular choice among traders around the world.
