FXCM Review
A Review of Forex Capital Markets (FXCM)
Introduction
Forex Capital Markets is an ECN and STP broker that provides forex trading and related services to retail and institutional clients world-wide. Founded in 1999 in New York, FXCM LLC is a registered Futures Commission Merchant and retail Foreign Exchange Dealer with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA). It has offices in Canada, Hong Kong, Great Britain, and France.
Asset Index
The asset index on FXCM is given below:
| CURRENCY PAIR | NO DEALING DESK SPREADS (in pips) | DEALING DESK SPREADS (in pips) |
| AUD/CAD | 3.3 | 3.3 |
| AUD/CHF | 3.4 | 3.4 |
| AUD/JPY | 2.9 | 1.9 |
| AUD/NZD | 4 | 4 |
| AUD/USD | 2.4 | 1.4 |
| CAD/CHF | 4.3 | 4.3 |
| CAD/JPY | 3.1 | 3.1 |
| CHF/JPY | 3.1 | 3.1 |
| EUR/AUD | 3.0 | 3.0 |
| EUR/CAD | 3.3 | 3.3 |
| EUR/CHF | 2.7 | 1.7 |
| EUR/GBP | 2.4 | 1.4 |
| EUR/JPY | 2.8 | 1.8 |
| EUR/NZD | 5 | 5 |
| EUR/TRY | 12.6 | 12.6 |
| EUR/USD | 2.5 | 1.5 |
| GBP/AUD | 3.8 | 3.8 |
| GBP/CAD | 4.1 | 4.1 |
| GBP/CHF | 4.2 | 4.2 |
| GBP/JPY | 4.2 | 3.2 |
| GBP/NZD | 5.6 | 5.6 |
| GBP/USD | 2.6 | 1.6 |
| NZD/JPY | 3.5 | 3.5 |
| NZD/USD | 2.7 | 1.7 |
| USD/CAD | 2.5 | 1.5 |
| USD/CHF | 2.5 | 1.5 |
| USD/DKK | 6.6 | 6.6 |
| USD/HKD | 5.4 | 5.4 |
| USD/JPY | 2.3 | 1.3 |
| USD/MXN | Variable | Variable |
| USD/SGD | 5.9 | 5.9 |
| USD/TRY | 10.5 | 10.5 |
| USD/ZAR | Variable | Variable |
Platform used
The trading platforms that are available on FXCM are:
a) Trading Station Web – This is a browser-based trading platform that requires no downloads or installation. It allows users to quickly and easily access their accounts from nearly any computer with an internet connection.
b) Trading Station Desktop – This platform is designed to meet the trading needs of experienced chart traders. It features advanced charting capabilities, custom indicators which are available for download from FXCodesBase.com, and the ability to even custom code your own indicators with indicator SDK.
c) Trading Station Mobile – This platform which is built for mobile devices, enables retail traders to quickly access the forex market. Users can trade on Smartphones and tablets, including iPhone, iPads, Androids, Blackberry and Windows phones.
d) Automated/Active Traders – FXCM offers active traders the opportunity to choose from their niche solutions like MetaTrader 4, Active Trader accounts, Mirror Trader, Ninja Trader and ZuluTrade.
Deposits and Withdrawals
Deposits can be made on FXCM via
a) Bank Wires
b) Credit or Debit Card
c) ACH
d) Paper Check.
Minimum Deposit
The minimum deposit amount through credit or debit card is 50 USD, while the minimum deposit through the ACH system is 100 USD.
Minimum Withdrawal Limit
There is no minimum withdrawal amount.
Maximum Withdrawal Limit
There is no maximum withdrawal limit.
Condition for Deposits and Withdrawal
The condition for withdrawal is that all withdrawals must be to the same credit card that was used to make the deposit. Such cards must also pass through a verification process.
Customer Support
FXCM can be contacted through the following means:
a) Phone: +1 212 897 7660 (U.S. and Int’l), +1 888 50 FOREX (36739) – toll free
b) Trading Desk: +1 212 201 7300 (U.S. and Int’l)
c) Active Trader: +1 646 432 2970
d) Email: info@fxcm.com
e) Live chat
