Forex Capital Markets was started in London in 1999. It is a major international digital forex and contract for difference (CFD) broker that also offers spread betting and other related services. The broker gives its clients cutting-edge trading tools, data that is only available to them, and high-quality training materials.
Also, FXCM Pro gives retail brokers, banks in emerging markets, and small hedge funds access to execution and liquidity at the wholesale level. FXCM Prime, on the other hand, lets medium-frequency and high-frequency funds use FXCM’s high-quality brokerage services.
By choosing one of the many great trading platforms, you can use FXCM’s social trading system to copy trades and FXCM Apps and MetaTrader4 to trade automatically (MT4). If you want to trade things other than currency, FXCM also lets you trade CFDs on stocks, metals, oil, commodities, indices, and cryptocurrencies.
Ideal For
Traders prefer platforms and tools that are up-to-date.
Traders who do a lot of business
Businesses that need great customer service
Pros
There are a number of trading systems, including MT4.
High-quality pricing and also implementation services
There are a lot of ways to learn.
Cons
Does not take customers from the United States.
Tradable Assets at FXCM
FXCM lets you trade over 250 different assets, such as forex currency pairs, CFDs on major business stock indexes, commodities like gold, silver, oil, natural gas, and copper, and the most popular cryptocurrencies. Different assets have different leverage ratios and margin requirements. A live account can be opened with as little as $50. FXCM lets you trade the following assets:
It offers spot forex trading in 39 major and also minor currency pairs, with a maximum leverage of 30:1 for majors and 20:1 for minors. FXCM has a forex training course and a guide to the currency market to help people who are new to forex trading get started.
Shares:
FXCM offers CFDs on some of the best-known stocks from the US, UK, Australia, Europe, and Hong Kong. The smallest size change for a position is 1/10 of a share, and you can start trading with a very low 5% margin requirement. Apple Inc. (NASDAQ: AAPL), Tesla Motors (NASDAQ: TSLA), GameStop (NYSE: GME), and Alphabet Class C are some of the companies that have shares for sale (NASDAQ: GOOG).
CFDs are available on the Dow Jones 30, the S&P 500, the Nasdaq 100, the French CAC 40, the German DAX 30, the Spanish IBEX 35, and the Japanese Nikkei 225. You can also trade on the VIX volatility index.
Commodities: Spot silver, gold, and copper, US WTI Light Sweet Crude derivatives, UK Brent Oil futures, and Natural Gas futures are all examples of commodities CFDs. There are different margin requirements for each commodity and contract.
FXCM offers cryptocurrency CFDs on Bitcoin, Ethereum, Litecoin, Bitcoin Cash, CryptoMajor, EOS, and Stellar Lumens against the US dollar. You can also trade cryptocurrencies in small amounts, with a minimum of 1% for Bitcoin and 10% for Bitcoin Cash or Ethereum. For Litecoin, EOS, and Stellar Lumens, the contract size is the same as the actual price of the cryptocurrency. For example, if the price of Litecoin is $180, then the price of one contract would also be $180.
Trading Baskets:
People can trade asset baskets through FXCM. The Australian dollar, the Japanese yen, the European Union euro, and the British pound sterling each makeup $10,000 in the Dow Jones FXCM Dollar Index. The Yen index, also called the JPYBasket, shows the value of 200,000 Australian dollars, Canadian dollars, EU euros, US dollars, and British pounds. The Emerging Markets Index basket has enough Chinese renminbi, Turkish lira, Mexican peso, and South African rand to buy $2,500 worth of goods.
Pricing at FXCM
FXCM is a broker that doesn’t charge fees and has attractive spreads on CFDs and currency pairs. If you trade more than $10 million every month, you can get a rebate, which will be added to your trading account at the end of the month.
The amount of a rebate is based on a five-step scale. The first tier pays $5 per million traded and covers trades between $10 million and $25 million per month. The fifth tier pays $25 per million traded if you trade at least $300 million per month.
Even though the effective dealing spreads on FXCM’s website aren’t very wide, dealing spreads on certain instruments can change depending on the contract, the time of day, or other factors. For instance, the spread for EUR/USD was between 0.00002 and 0.00004, or between 2/10 and 4/10 of a pip. The fact that FXCM has tight spreads was a big reason. Why ADVFN named the company the Best Zero Commission Broker in March 2021.
Slippage is the unexpected difference in the exchange rate shown in a stop or order book. This difference can be either positive or negative. Slippage is bad for the trader when they lose money and good when they get a fill at a better price than the market. In its July 2021 Slippage Statistics, FXCM saw a +87% positive number, which means there was no slippage.
The FXCM App
The broker made the Trading Station platform, which can be used on iPhones and Android phones. The program has a simple, easy-to-use interface for entering orders and getting confirmations. It also has powerful trading tools, charts, and access to research. FXCM also supports the popular MetaTrader4 trading platform. So you can get the MT4 mobile app for your iPhone or Android.
Advantages of Using FXCM
Using an FXCM account to trade has a lot of advantages. You can start practicing without depositing by opening a free demo account. This lets you try trading and check out the broker’s scientific and learning tools.
You can use FXCM Trading Station, MetaTrader 4, NinjaTrader, ZuluTrade, Capitalize AI, and TradingView. You can also use a social trading platform to copy the trades of other traders in real-time on your account.
New traders can use FXCM’s many teaching and research tools and its video library. Which has a wide range of videos about trading. FXCM lets advanced traders trade using application programming interfaces (APIs). Four free APIs can connect to the FXCM server. The REST API, the FIX API, the Java API, and the ForexConnect API.
Here, you can learn more about how the broker can use algorithmic trading. Institutional investors, retail brokers, emerging market banks, and hedge funds can also use FXCM Pro. This premium brokerage service gives institutional clients access to the currency and CFD markets and competitive prices.
