FXCM Review

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FXCM pros & cons

Pros

• Founded in 1999, FXCM Group (FXCM) is on NYSE

• FXCM is regulated by several regulators for trading forex and CFDs.

• In our testing, FXCM has good Platforms and Tools, Professional Trading, Algorithmic Trading and Social Copy Trading.

• FXCM publishes detailed monthly execution reports.

• In addition to the native Signals market on MetaTrader, FXCM offers copy trading, but not in all regions.

• FXCM is a leader in algorithmic trading solutions.

Cons

• Research and educational content are of good quality, but not as good as other brands in this field.

• FXCM offers a limited selection of CFDs.

• Effective spreads are higher than the industry average.

• Although a wide variety of third-party platforms are supported for algorithmic trading, MetaTrader 5 (MT5) is not available at FXCM.

Offering of investments

The range of products available to it's clients is of over 300 CFDs that includes fractional shares and 41 forex pairs, FXCM offers exchange-traded securities across 43 exchanges in Europe, North America, and the Asia-Pacific region. The following table summarizes the different investment products available to FXCM clients.

Cryptocurrency: Cryptocurrency trading is available at FXCM through CFDs, asset (e.g. buying Bitcoin). Crypto currency trading not available to UK residents..

Commissions and fees

FXCM’s pricing for forex trading is slightly higher than the industry average.

Standard account spreads: Trading on the EUR/USd spreads are approxmatly 1.4 pips.

Active trader discounts: FXCM’s has an Active Trader Rebate Program , but not available in the UK and EU.

Active Trader requirements: In the U.K., for example they do have a rebate program which needs $25,000 account balance with at least 500 lots trading monthly this brings the spread to 0.8 pips. Deeper discounts are available if you trade over $500 million per month at FXCM.

Execution methods via order type: FXCM offers “At Market” orders, which have the potential for slippage, and “Market Range” orders, which are less likely to experience slippage, but these trades can be rejected if the requested price or price range is no longer available. At the same time , limit orders are more likely to experience positive slippage.

Other notes: FXCM has shown in the past a positive slippage on 23.78% of it's trades and a negative slippage of 12.69%