I felt I needed to give FXCM a fair review. I use the Micro Trading Platform as I like that particular platform.
So if your new to FX Trading don't open a live account without trying the demo for at least a couple of months. Understand what drives the market and use the market data.
I've never done forex trading before so I got a book about it and worked the demo for a couple of months. I still use the demo as I'm trying to get the Japanese Yen understood and I still struggle.
I don't bet on anything that I don't understand.
Here's reality. FXCM's trading platform's are not the best. They mess up. However using the stop loss and profit limit will get you what money you want and give you some security. I agree that the programs need to be better but FXCM seem to be working on updates and in the last three months I have noticed that it is getting better.
FXCM is definitely not a scam. I have received over $250,000 in many transactions and the longest I have had to wait for it is 4 days.
Do not listen to bad reviews on here. Chances are that people are not very sensible and just bet whatever way they want. I do this full time and I make an extremely comfortable living out of this.
Surely if this was a scam someone would have reported it to the NFA and the SEC who would have done something. Yes the pips aren't the greatest but they're trying to make a living to.
Headquarters:
Financial Square 32 Old Slip, New York, NY 10005.
Country: United States
Regulated by:
USA: CFTC, NFA # 0308179
Canada : PartyID # 182963
Hong Kong: SFC CE # AIM232
Great Britain: FSA # 217689
Branches:
FXCM UK
FXCM Australia
FXCM Japan
FXCM Asia (Hong Kong)
3.6
4.5
FXCM Micro Account:
minimum deposit: $25
minimum lot size: 1k (micro lot)
maximum leverage: 1:400
FXCM Standard Account (10k):
minimum deposit: $2000
minimum lot size: 10k
maximum leverage: 1:200
FXCM Dealing models:
STP (NDD) on Metatrader, FXCM Trading Station
ECN on Active Trader platform
FXCM Spread:
Variable spread, from 0.7 pip on EUR/USD
FXCM Deposit/Withdrawal methods
Bank Wire, Credit card, Paper Cheque
FXCM Trading Platforms:
FXCM Trading Station, Metatrader, Active Trader (Currenex), Mirror Trader
Extra Services:
Signals from Zulutrade and Tradency
Website: FXCM.co.uk
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