FXCM review

Spread from

0.0 pips

EUR/USD spread

Approx. 1.2 pips, Standard

GBP/USD spread

Approx. 1.4 pips, Standard

Commission

$0 Standard; commission applies to Active Trader pricing

All-in cost, EUR/USD

Approx. 1.2 pips, Standard

Spread type

Variable

Overnight swap

Both: overnight financing may be charged or credited

Inactivity fee

$50/year after 12 months inactivity

Deposit fee

None internally for standard methods

Withdrawal fee

Card withdrawals generally free; bank-wire fees may apply

Currency conversion

Conversion at applicable exchange rate

A quoted spread from 0.0 pips is a raw-spread figure, which almost always means a separate commission per lot. Compare the two together - a "zero spread" account with a high commission can cost more than a wider spread with none.

Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.

FXCM lists a minimum deposit of $50. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.

Markets

Forex, Shares, Indices, Commodities, Cryptocurrencies, Crypto baskets, Stock baskets

Currency pairs

40+

Total instruments

400+

Crypto CFDs

Yes

Maximum leverage

1:400

Execution model

Agency / No Dealing Desk with principal execution depending on product/entity

Execution speed

Approx. 20ms

Order types

Market, limit, stop, stop-loss, take-profit, trailing stop, OCO, entry orders

Servers

Global financial data centres including New York and London

Leverage up to 1:400 is available on this entity. High leverage does not increase your expected return - it increases position size for the same deposit, and shortens the move needed to close you out.

FXCM covers forex, shares, indices, commodities, cryptocurrencies, crypto baskets, stock baskets. A wider range matters less than depth in the instruments you actually trade.

Funding options: visa, mastercard, bank transfer, skrill, neteller and regional electronic payment methods. Check withdrawal routes as well as deposit ones - they are often not the same, and the difference only becomes apparent when you try to take money out.

Platforms

Trading Station, TradingView, MetaTrader 4

Own platform

Yes, Trading Station

Mobile app

Both proprietary and third-party

Browser trading

Yes

Automated trading

Yes, MT4 Expert Advisors and Trading Station automation

Copy trading

Yes, third-party/social trading integrations

Indicators

50+ Trading Station indicators; 100+ through TradingView; MT4 custom indicators supported

Third-party tools

TradingView, MetaTrader 4, Capitalise.ai

API access

Yes, REST API, FIX API and ForexConnect

MetaTrader 4 remains the most widely supported platform for expert advisors. If you rely on an existing EA, this is usually the deciding factor.

TradingView integration lets you trade from charts you may already use, removing the need to run a second platform for analysis.

Regulated by

FCA (217689); ASIC (AFSL 309763); CySEC (392/20); FSCA (FSP 46534)

Regulator tier

Tier 1

Register entry

FCA Financial Services Register, FRN 217689

Client money segregated

Yes

Held at

Regulated banking institutions

Negative balance protection

Yes for eligible retail clients

Compensation scheme

FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible CySEC clients

Audited by

Independent external auditors

Not available to

United States, Canada, Hong Kong, Japan and other jurisdictions where FXCM does not accept retail clients or services are restricted

FXCM holds tier-one authorisations from ASIC, FCA and CySEC. That matters more than any headline spread: it determines your leverage cap, whether losses can exceed your deposit, and what happens to your money if the firm fails.

ASIC caps retail leverage at 1:30, requires negative balance protection, and obliges the broker to hold client money in a separate trust account.

The FCA caps retail leverage at 1:30, mandates negative balance protection, and covers eligible clients under the Financial Services Compensation Scheme.

CySEC licences passport across the EU and follow the 1:30 retail leverage cap, with the Investor Compensation Fund covering eligible claims.

Minimum deposit

$50

Account types

Standard, Active Trader, Professional, Corporate, Islamic/Swap-Free, Demo

Account currencies

USD, EUR, GBP

Islamic account

Yes

Demo account

Yes

Professional account

Yes

Minimum trade size

0.01 lots / 1,000 currency units

Time to open

Typically a few minutes

Deposit methods

Visa, Mastercard, bank transfer, Skrill, Neteller and regional electronic payment methods

Withdrawal methods

Bank transfer, credit/debit card, Skrill, Neteller and applicable original funding methods

Deposit time

Cards/e-wallets generally instant; bank wire typically 1-5 business days

Withdrawal time

Usually processed within 1-2 business days; settlement depends on method

Minimum withdrawal

$50 for bank wire; lower/no minimum for some electronic methods

Local payment methods

Jurisdiction-specific bank transfer and electronic payment methods

Support hours

24/5

Contact channels

Live chat, email, phone, WhatsApp/SMS in supported regions

Languages

Multilingual

Telephone

+44 20 7398 4050

Email

info@fxcm.co.uk

Live chat response

Typically under 2 minutes

Education

Extensive: forex education, platform tutorials, webinars, trading guides, videos and educational articles

Research

Extensive: Market News, technical analysis, trading signals, market scanners, analyst commentary and quantitative tools

Legal entity

Stratos Markets Limited

Company number

04072877

Headquarters

London, United Kingdom

Founded

1999

Publicly listed

No

Parent company

Stratos Group / Jefferies Financial Group

Employees

500+

Also trades as

FXCM; Forex Capital Markets