This FXCM review provides an in-depth look at the broker’s regulatory credentials, execution model, trading tools, and range of supported instruments. Established in 1999 and now part of the Jefferies Financial Group, FXCM serves both retail and institutional traders across multiple global jurisdictions with a strong reputation for transparency and execution quality.

Regulation and Safety

FXCM is regulated in several jurisdictions under different entities:

• UK: Financial Conduct Authority (FCA), license number 217689
• Australia: Australian Securities & Investments Commission (ASIC), license number 309763
• South Africa: Financial Sector Conduct Authority (FSCA), FSP No. 46534
• Cyprus: Cyprus Securities and Exchange Commission (CySEC), license number 392/20

Client funds are held in segregated Tier 1 bank accounts. FCA and CySEC clients benefit from investor compensation schemes (FSCS and ICF). FXCM also provides negative balance protection, regular audits, and data encryption protocols to protect account access.

Execution Model and Trading Platforms

FXCM operates a No Dealing Desk (NDD) model, offering STP execution with competitive spreads and deep liquidity. Available trading platforms include:

• Trading Station (proprietary platform, desktop/web/mobile)
• MetaTrader 4 (MT4)
• NinjaTrader (for algorithmic and futures traders)
• ZuluTrade and TradingView integration

For institutional clients, FXCM offers FIX API connectivity and premium VPS hosting. The broker is known for its execution analytics tools and order flow insight capabilities.

Markets and Instruments

FXCM offers a wide range of asset classes, including:

• Forex – 40+ currency pairs including majors, minors, exotics
• Indices – US30, NAS100, GER30, UK100, AUS200
• Commodities – Gold, oil, silver, copper
• Shares – CFDs on global stocks
• Cryptocurrencies – BTC, ETH, LTC, BCH (CFD-based)
• Baskets – Proprietary FXCM baskets (e.g., JPYBasket, CryptoMajors)

Accounts, Spreads and Leverage

FXCM offers a simple, unified account structure with tailored conditions by region:

• Standard Account: Commission-free, spreads from 1.3 pips
• Active Trader: Raw spreads + commission (as low as $25 per million traded)
• Professional Account: Available in the UK/EU with higher leverage (on request)

Minimum deposit is $50. Leverage is capped at 1:30 for retail clients in the UK/EU and up to 1:400 under ASIC or FSCA. Stop-out levels range from 50% to 100% based on jurisdiction.

Funding and Base Currencies

FXCM supports a variety of deposit and withdrawal methods:

• Bank wire transfers
• Credit/debit cards (Visa/Mastercard)
• eWallets – Skrill, Neteller
• PayPal – Available in some jurisdictions

Base currencies supported include USD, EUR, GBP, AUD, and JPY. Most deposits are instant. Withdrawals are processed within 1–2 business days, with no internal fees from FXCM.

Client Protections and Features

FXCM offers robust protections for its clients, including:

• Negative balance protection for retail clients
• FSCS/ICF coverage based on regulatory entity
• 2FA and biometric login support
• Regulatory audits and financial transparency as part of Jefferies Group
• Comprehensive risk warnings and educational resources

Institutional and Retail Offering

FXCM serves both individual and institutional clients:

• Retail: Access to Trading Station, MT4, ZuluTrade, and social copy trading
• Institutional: Dedicated liquidity, FIX API, Prime of Prime access, custom pricing

Advanced traders benefit from FXCM’s proprietary execution analytics, historical data API, and automated strategy testing tools.

Pros and Cons

Pros

• Regulated in the UK, Australia, EU, and South Africa
• NDD/STP execution with transparent pricing
• Trading Station and MT4 support
• Unique baskets and trading analytics tools
• FIX API and institutional solutions available

Cons

• Spreads higher on Standard account compared to ECN brokers
• Limited product range in some regions (e.g., stocks or crypto)
• No MT5 support

Frequently Asked Questions

Is FXCM a regulated broker?

Yes, FXCM is regulated by FCA (UK), ASIC (Australia), CySEC (EU), and FSCA (South Africa), offering robust global oversight.

What platforms does FXCM offer?

FXCM supports Trading Station (its proprietary platform), MetaTrader 4, NinjaTrader, and ZuluTrade integrations.

What is the minimum deposit for FXCM?

The minimum deposit is $50 for most regions. Active Trader accounts may require a higher balance.

Does FXCM offer cryptocurrency trading?

Yes, FXCM offers CFDs on major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin in eligible regions.

Can institutions access FXCM’s liquidity?

Yes, FXCM provides institutional services including FIX API, Prime of Prime access, and bespoke liquidity solutions.