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Forex Capital Markets, or FXCM, is a brokerage company based in the United Kingdom. FXCM offers forex and CFDs (Contract for Differences) trading.

The company established itself in 1999. The Jefferies Financial Group is the owner of FXCM. The parent company of FXCM established itself in investment banking for many years.

It got listed on the New York Stock Exchange, thus earning a solid reputation.

FXCM was first launched in 1991 in the United States, but soon it shifted focus to other regions. In 2019, FXCM launched a rebranding program and branded itself as a Leucadia company.

In March 2018, FXCM was the second biggest retail forex brokerage company outside of Japan.

Owing to the solid reputation of its parent company, FXCM is a safe investment by traders. FXCM gets regulated by many top-rated financial authorities.

This includes the Australian Securities and Investments Commission (ASIC) and the UK Financial Conduct Authority (FCA). It is also regulated by three tier-2 regulators.

FXCM is also regulated in the top three tier-1 jurisdictions.

This has given it a reputation of being a safe and low-risk broker for trading CFDs and forex.

About FXCM Trading Platform

FXCM offers spread betting, CFD, and forex trading accounts to users. You can trade on a variety of markets, including:

  • Forex
  • Forex Baskets
  • Stock baskets
  • Shares
  • Commodities
  • Cryptocurrencies
  • Indices

FXCM makes all this possible on its trading station platform for web, desktop, and mobile.

FXCM Trading PlatformFXCM also gives users access to MetaTrader4, NinjaTrader, and the ZuluTrade platforms.

FXCM’s client base consists of traders from the CFD account type. Institutional clients can also trade on FXCM.

This is possible through the prime brokerage unit known as FXCM Pro.

High-volume traders qualify for the Active Trader account. In this type of account, the spreads get reduced.

There is a $30 commission application per $1 million traded. Traders who surpass $150 million in trading volume will get a benefit of a $25 reduction.

Special pricing is also available. This is only on request and if the trading volume exceeds $500 million each month.

This account is for those looking to trade in a more competitive environment. Commission on this account is at the lower end of the spectrum.

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    Types of FXCM Trading Platforms

    FXCM traders get access to four online trading platforms.

    • First is the proprietary FXCM trading station, which is the company’s most ideal trading gateway. This is also touted to be the best platform on the market. This comes with a charting package. Dedicated support is there for an automated trading solution. Access is there to market data free of cost, along with advanced indicators.
    • The MetaTrader4 (MT4) trading platform is the second option available at FCM. Traders at FXCM can upgrade to the MT4 through third-party plugins. There are over 2000 free plugins available at FXCM and 700 more available to buy.
    • The NinjaTrader platform is also available at FXCM. This is a lesser-known trading platform. NinjaTrader lets traders customize their trading experience.

    FXCM also gives access to ZuluTrade for social trading. ZuluTrade is a peer-to-peer (P2P) online trading platform.

    It is best for traders who do not have enough time to design their trading strategies.

    This social and copy trading online platform lets traders copy the trades of professional traders as soon as they take place.

    You can also communicate with professional traders through the Zulu platform.

    FXCM Trading Platform – Top Features

    FXCM also provides access to Mirror Trader. Mirror Trader is a trading platform that lets traders follow the signals and strategies of other traders.

    It is the perfect solution for those who already follow the FX markets but do not have the time to decide what and when to trade. Mirror trading is a unique feature of FXCM.

    The trading platform highlights the currency pairs that are performing best in the market currently, then sends signals to the traders about when to enter and when to exit a trade.

    It lets traders take advantage of the current market movements regardless of what they are doing.

    Traders can use Mirror Trader from FXCM to evaluate and build a portfolio of time-tested strategies.

    It provides four free API solutions for traders to develop automated trading solutions to communicate with their trading server.

    FXCN offers two VPS solutions at $30 per month for their automated trading solution to help traders operate 24/7.

    It gives automated trading solutions to its institutional clients and professional traders.

    More on FXCM Trading Terminal Features

    FXCM is one of the few online trading platforms that offer cryptocurrency trading through CFDs. But, this is not available to retail traders or UK residents.

    FXCM’s trading station desktop has gotten great reviews from forex traders of all skill levels.

    One of the highlights of this is the Marketscope 2.0 charting tool present within the Trading Station platform.

    This is a powerful charting package that functions parallel to the main platform window. The web-based version of Trading Station also has a vast array of features.

    You get access to research, videos, news headlines, signals, and analysis from leading analysts. Links to various external resources are also given.

    There are 52 charts and 26 drawing tools that are easy to use. There are also seven predefined layouts to select.

    • FXCM provides several add-ons, automated trading robots, and technical indicators to make trading easy.
    • FXCM also supports many specialty platforms for algorithmic trading, including MotiveWave, QuantConnect, AlgoTerminal, Sierra Chart, AgendaTrader, NeuroShell Trader, Capitalize, StrategyQuant, and Seer Trading Platform.

    Instruments Traded on FXCM

    Some of the popular currency pairs traded on the FXCM web-based trading platform are USD and EURO, where it is possible to get low spreads of 1.3 pips and USD/GBP with low spreads of 1.6 pips.

    FXCM does not charge any commission on traders, and it does not take a cut on any fund deposits.

    The charge gets levied only on the spread cost, which gets calculated when the trading takes place.

    An overnight fee is applicable on any positions that get held beyond 5 pm Eastern US time.

    For traders on the Active Trader account, fees are lower, but they pay a commission on each trade plus a spread cost.

    You may need to pay commissions based on your trading account’s currency you have signed up for. This also varies between each type of trading account.

    You may have to pay a commission for currency exchange by the credit/debit card provider.

    How to set up an FXCM Trading Terminal?

    It is pretty easy to open an account with FXCM.

    Remember that the trading platform is available for laptops, desktops, mobile devices, web-based, and even Macs.

    Traders who want to open an account on FXCM can do so with a minimum deposit of GBP 300. Live traders get real-time updates of the market.

    Alerts are also given to keep them informed about their trading.

    FXCM analytics also offers excellent insight and analysis into your trading habits.

    You can also opt for the Active Trader account at FXCM.

    This is available for a trader who deposits a minimum of 25,000 in any chosen currency.

    This account offers traders lower commissions on trades.

    It also gives you access to analysis and a vast knowledge base focused on trading at a professional level.

    Setting up on the FXCM online trading terminal is easy.

    Here are the steps to opening an account on FXCM

    1st Step: Go to the website https://www.fxcm.com/markets/open-account/.

    2nd Step: You will find a box with the heading Apply Now on the right side of the webpage.

    3rd Step: Select your country of residence.

    4th Step: Select your desired trading platform that you want to start on. You can choose from trading forex, global stock indices, CFDs, cryptocurrencies, and commodities like gold and oil.

    5th Step: Click on Begin Application.

    6th Step: You will now go to FXCM’s secure server, where you will complete the online application form.

    7th Step: You will need to enter your email ID and fill up the online application.

    8th Step: Once you complete the online application, you will get a username and password.

    9th Step: Now, you can log in to the MyFXCM client portal at https://www.myfxcm.com/fxma/login?

    10th Step: You enter your username and password.

    11th Step: Now deposit the amount of funds you want to trade with, and start trading.

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    How to Use FXCM Web Trading Platform?

    Setting up and placing a market order on the FXCM online trading platform is easy. Here are the steps on how to set up your FXCM platform.

    Step 1: Open the trading platform and log in with your username and password.

    Step 2: After opening the platform, you will see red and blue flashing rates. This is the window for advanced dealing rates. Here you can see quote boxes with information on specific currency pairs defined by the symbol abbreviation at the top of the box.

    Step 3: To the right of the symbol, you will see the time at which the trading rate last changed. Each symbol quote box contains both the buy/ask and sell/bid price. When a price flashes red, it represents a downward movement. When a price flashes blue, it means the rate has moved higher.

    Step 4: Press on the Buy price to place a long trade. Press on the Sell price to enter a short trade.

    The difference between the price at which you buy a pair and sell a pair is the spread.

    This spread will be automatically calculated and displayed at the bottom of the quote box. You can also select the trade size for every time you trade.

    The same steps have to be followed for trading other instruments as well.

    Advantages of FXCM MetaTrader 5

    Some of the advantages of using the FXCM MetaTrader 5 include:

    • FXCM’s offer of the latest market research and analytical tools is above average.
    • It provides high levels of education and varied resources for clients.
    • It gives reliable service for desktops as well as mobile apps and web-based trading platforms.
    • You can do social and copy trading through ZuluTrade.
    • You get access to demo trading accounts.
    • There are many free and paid algorithmic tools.
    • You can access a wide variety of apples.
    • It is an award-winning provider.
    • The fees are low for FXCM’s standard retail accounts.
    • You can access six different asset classes.
    • The pricing is competitive, especially for the Active trader accounts.
    • The UK Financial Conduct Authority regulates it.
    • Investors are also protected under the Financial Services Compensation Scheme.

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    FXCM Trading Platform – Conclusion

    Users like the services of FXCM. The high levels of education, research, and analysis provided are very useful.

    The Demo Account feature is also helpful and helps traders understand how the system works.

    Consumers wanting to trade CFDs and forex across a variety of sectors will benefit by registering with FXCM.

    Traders can use the FXCM trading platform from the UK, Australia, South Africa, Germany, France, Sweden, Italy, Denmark, Kuwait, Luxembourg, and many other countries. However, traders in India cannot use FXCM.

    FXCM Trading Platform FAQs

    Here is the list of FAQs related to the FXCM trading platform:

    What is the FXCM Trading Platform called?

    FXCM has four different trading platforms. The leading trading platform is the FXCM Trading Station. FXCM also offers the MT4 platform for trading.

    For small hedge funds, new market banks, and retail brokers, there is the FXCM Pro Account. FXCM Prime Account is available for mid- or high-frequency funds.

    Does FXCM provide Web Trading?

    Yes, FXCM offers web-based trading through its FXCM Trading Station.

    It also provides web-based trading from the MT4 online trading platform. NinjaTrader and ZuluTrade are also other web-based trading platforms.

    Is FXCM Trading Platform free to use?

    FXCM offers a free demo account, but actual trading on FXCM is not free. When you open a demo account, you can understand how actual trading happens.

    But, without paying and funding your account, you cannot do any trading on FXCM.

    How to download FXCM Trading Terminal?

    The FXCM trading terminal is available online through FXCM Trading Station.

    You can download the FXCM mobile app from both the Google PlayStore and Apple Store.

    What features does the FXCM Online Trading Platform have?

    Some of the features of the FXCM online trading platform include:

    • It has a charting package.
    • You get intensive customer support for automated trading solutions.
    • You get access to advanced indicators.
    • Market data is available free of charge.
    • Third-party plugins help you with trading solutions.
    • The MT4, NinjaTrader, and ZuluTrade platforms are all available under FXCM.

    Can I trade in Shares via the FXCM MetaTrader 5?

    Yes, it is possible to trade shares on the FXCM MetaTrader 5. The asset selection at FXCM lets you trade 39 currency pairs.

    It allows you to trade 13 index CFDs, nine commodity CFDs, and one bond CFD.

    One cryptocurrency basket and five cryptocurrency CFDs have been recently added.

    Is FXCM Trading Terminal suitable?

    Yes, the services offered by FXCM are impressive.

    The high levels of education for traders and the Demo Account feature are attractive to users.

    Can the FXCM Web Trading Platform be used without EKYC?

    Yes, the FXCM web trading platform does not need any eKYC.

    Does FXCM MT5 provide Tips?

    Yes, the FXCM MT5 is famous for the excellent tips and trading tricks it sends to traders.

    Get Free Access to Platform – Open a Forex Account Now!

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