FXCM is one of the best online Forex brokers that presents online trading services for trading Foreign Exchange. It was founded in 1999 to be the first Forex broker on the New York Stock Exchange. It has over 14 years’ experience which allows it to offer high-quality services to retail and institutional customers. It offers a large network of Forex liquidity providers that includes a wide range of market makers such as prime brokers, financial institutions and global banks which helps the company to present Forex execution and spreads on major currency pairs at low and competitive spreads. It helps its customers to get fast execution that allows them to maximize their profits. It tries to improve the skills of its customers and make them experienced in the field of trading Forex through offering educational services and materials.
♦ Multiple platforms
There are multiple platforms that are offered for traders to provide them with a flexible environment that helps them to use different strategies. There is TS or Trading Station platform that can be accessed through the web, desktop or through your smartphone or tablet as it is compatible for iPhone, iPad, Android, Windows phone and Blackberry which helps you to keep in touch with the latest changes in the mak trade at anytime wherever you go without the need to use a specific device. There is also MetaTrader4 which is the most popular and most used trading platform, Mirror Trader which helps traders to decide the best strategies for trading through following smart filters and real-time signals, Ninja Trader that is suitable for all traders regardless of their level of experience and helps them to build automated trading strategies that are customized for them and there is also ZuluTrade which is an automated trading platform that is ideal for traders who want to automate their trades.
♦ Several accounts
There are multiple accounts that are offered to suit different requirements and financial situations. There is Basic account, Premium account and Active Trader account. The minimum deposit that is required for opening your account and starting trading with FXCM is $50 which is a very low and affordable deposit for many traders regardless of their financial situation.
FXCM is regulated and listed on the NYSE. It received many awards such as Overall Client Satisfaction from Investment Trends in 2012, Best Currency Broker from Shares in 2008 and other awards that show its proficiency and ability to present high-quality services to its customers.
♦ Trading options & tools
It offers its customers several options for pricing and different models for Forex execution to meet customers’ needs and suit their requirements. You will find No Dealing Desk execution and Dealing Desk execution. No Dealing Desk execution is highly recommended because it presents the best trading experience offered by the company, while Dealing Desk execution model is ideal for traders who care about getting the lowest spreads that are offered for trading 12 of the major currency pairs that are presented by the company. The spreads start from 0.6 pips and this is offered for Active Trader account. You can fund your account through using several currencies such as EUR, GBP, CAD, NZD, AUD or YEN. There is no re-quote for orders or prices. It allows traders to scalp the market, trade news, automate their trades and trade with APIs. It offers one-click order execution and several tools that are essential for trading such as real-time and professional charts and dailyFX plus trading signals.
♦ Practice account
You have the chance to practice trading in the Forex market, try different strategies, improve your skills, boost your level in trading, gain more experience and try the different services and tools that are offered to you through FXCM to judge their quality. The best feature in the practice or demo account is that you do not have to risk your money or lose it. It makes you ready for trading after opening a live account and using real money. The demo account is a great opportunity for you to lower the risk of losing money when you start Forex trading using a real deposit. FXCM offers $50.000 of virtual money for starting trading when you open your demo account.
♦ Learning trading
There are traders who do not have enough experience to trade on the Forex market and that is why FXCM offers educational services to its customers to allow them to get all the information and recommendations that are substantial for them to trade professionally. It offers free news, market research, educational videos, live instructor sessions and webinars, constant trading support that is presented to you by the course instructors to show you the right way for trading. It also offers dailyFX plus trading course which shows you how to use technical indicators. It presents all the trading strategies whether they are basic or advanced and shows the techniques of money management.
♦ Customer support
FXCM offers its customers a 24-hour customer support that is available for 7 days per week and 5 days for live chat. The support is presented by a group of specialists who are dedicated for answering your questions, handling your problems and giving you the needed advice. You can contact the support team via different support channels such as phone, e-mail, Fax and live chat.
FXCM has many branch offices in different countries around the world to provide its customers with a top-notch customer service and to make the customers more satisfied. You can find offices for FXCM in the United States, the United Kingdom, Hong Kong, France, Italy, Germany, Greece, Australia and Japan.
FXCM allows its customers to trade Forex and does not offer trading other financial instruments which means that traders who want to trade other instruments and products will need to look for another broker that offers this service.
♦ Customer ratings
FXCM is recommended by most of its users who tried to trade in the Forex market through using its tools and the offered services. They assure that the TS platform is reliable, the withdrawal process is fast, they get low spreads, several accounts and multiple platforms that suit their different strategies.