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FXCM Forex Capital Markets review

FXCM Review: Is FXCM a good broker?

RATING: 4.7 / 65 REVIEWS ForexBrokerz FXCM

FXCM real time & average spread

Real time spread
Average spread
For the last hour
Min spread
Max spread
Swap long: n/a
Swap short: n/a
Stop/Limit level: n/a

FXCM execution and slippage

1.64 pips


Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be. 


Our slippage data about FXCM is sampled by 10 of the most popular forex trading strategies in

0.74 pips

FXCM slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Average profit:                14.0 pips
Average trade lifespan:  19 hours
Most traded pairs:               EUR/USD, GBP/USD and USD/CHF


1.09 pips

FXCM slippage with Saved FX trading strategy

Average profit:                  16.0 pips

Average trade lifespan:    1 day

Most traded pairs:                 EUR/USD, GBP/USD, USD/CHF
1.15 pips

FXCM slippage with Qurenix trading strategy

Average profit:                  9.0 pips

Average trade lifespan:  5 hours

Most traded pairs:             EUR/USD
1.44 pips

FXCM slippage with Forex Cruise Control trading strategy

Average pips/trade:           5.0

Average trade lifespan:   18 hours

Most traded pairs:              GBP/USD
0.84 pips

FXCM slippage with For333 trading strategy

Average pips/trade:           12.0

Average trade lifespan:   15 hours

Most traded pairs:              GBP/USD, EUR/USD, AUD/USD
2.63 pips

FXCM slippage with Azar Consulting trading strategy

Average profit:                   28.0 pips

Average trade lifespan:   3 days

Most traded pairs:               EUR/USD
0.80 pips

FXCM slippage with The Best Player trading strategy

Average profit:                  22.0 pips

Average trade lifespan:   13 hours

Most traded pairs:               EUR/USD
0.83 pips

FXCM slippage with Xiaolidao trading strategy

Average pips/trade:           9.0 pips

Average trade lifespan:   1 day

Most traded pairs:               EUR/USD
1.46 pips

FXCM slippage with Youron trading strategy

Average profit:                  9.0 pips

Average trade lifespan:   11 hours

Most traded pairs:               EUR/USD, GBP/USD
5.42 pips

FXCM slippage with Duanxian(GBP\USD) trading strategy

Average profit:                      10.0 pips

Average trade lifespan:      1 days
Most traded pairs:                   EUR/USD, NZD/USD, GBP/USD

Trading Accounts



Account type Minimum deposit  Minimum trade size Maximum leverage Average Spreads  
Standard $300 1000 1:30 1.5 pips + commission $4 (£3 in the UK)*   
 AciveTrader  $25 000 0.01 1:30 0.4 pips + commission $1.8 – $4 (£1.8 – £3 in the UK) *  


*Commission is calculated per standard lot of 100 000 base units (per side).



FXCM Australia

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Standard $50 1000 1:400 1.5 pips + commission $4 (£3 in the UK)*
AciveTrader  $25 000 0.01 1:400 0.4 pips + commission $1.8 – $4 (£1.8 – £3 in the UK) **

*Commission is calculated per standard lot of 100 000 base units (per side). 


FXCM offers two account types: Standard and Active Trader. For those unwilling to expose themselves to the greater risk related to trading in large volumes, micro lots are available on all account types.


Trading Conditions


Minimum initial deposit

In order to open an account with FXCM Australia, one has to invest just $50, which is a low minimum initial deposit. FXCM UK requires minimum deposit of $300, in line with the industry average. 


Spreads & Commission

FXCM offers competitive variable spreads, averaged 1.5 pips on EURUSD on commission-free accounts.

Active Trader account holders may benefit from tighter spreads and commission discounts, provided that they satisfy certain trading volume requirements. For further information, you may check out and compare real-time spreads of 10 leading brokers here


Maximum leverage


FXCM UK offers the highest possible under ESMA regulations spread levels to all of its clients:

30:1 leverage restriction for major currency pairs

20:1 for non-major currency pairs, gold and major indices

10:1 for commodities other than gold and non-major equity indices

5:1 for individual equities and other reference values


The maximum leverage offered by ASIC-regulated FXCM Australia is quite higer:

400:1 leverage for Forex trading

200:1 leverage for CFD trading


The Company. Security of funds


Company Country Regulation
FXCM Australia Pty. Limited Australia ASIC
FXCM South Africa (PTY) Ltd (IB) South Africa FSCA

This broker takes regulation, financial transparency and investor protection very seriously. In order to maintain transparency of operations, the company provides regular press releases where anyone can see the broker's monthly execution data. Besides, the companies within the FXCM group are regulated by some of the most respected regulatory bodies in the world: FCA in UK and ASIC in Australia.


Both FCA and ASIC regulated brokers are under strict supervision and are very well controlled. To acquire a license from the UK financial watchdog, financial services providers need to maintain net tangible assests amounting to at least EUR 730 000. Australian brokers, on the other hand, must hold at  least AUD 1 000 000 to prove  their financial stability.

Besides, under the UK regulations, investors’ funds are kept in segregated bank accounts separated from the company’s operating funds and, in case of default, sums of up to GBP 50,000 are protected under the Financial Services Compensation Scheme (FSCS).


Trading platforms


This broker offers a selection of robust trading platforms to its clients, including the most popular MetaTrader 4, its award-winning Trading Station, and NinjaTrader. In addition, Copy trading is available through the advanced web platform ZuluTrade.


FXCM’s In-house award-winning platform Trading Station is available as desktop, web, and mobile versions.  Apart from its sleek design and intuitive interface, Trading Station comes equipped with Marketscope – a powerful charting package. Here are some of its key features:


-         -  Place and manage trades from the charts;

-          - Pre-loaded Indicators: over 30 popular indicators like MA, MACD, Bollinger Bands and RSI;

-          - Custom Indicators: over 600 custom indicators available;


FXCM’s Trading Station. Click to enlarge.


As trading robots are extremely popular among forex investors, Trading Station offers automated strategies that take the human element out of trading and what is more, you don’t need to stare at the PC screen all the time. You may easily determine key areas where your trading strategies can be improved, and gain confidence in your robots prior to applying them by using the platform’s strategy optimizer conducts excessive backtesting.


There are also some exclusive tools with Trading Station, like the unique order type, Good Till Date, which lets you execute at specific times; and the broker’s exclusive Real Volume indicators, which opens FXCM’s trading book of traders around the world.


NinjaTrader is another platform supported by FXCM. It has simplified interface and offers all of the functionalities that you can make use of if you trade on Metatrader 4 or the desktop version of Trading Station, and even more. You can also benefit from fast execution, trading from charts, creating your own trading strategies, superior back-testing options, custom indicators and alerts.


Those traders who stick to the good old MetaTrader 4 (MT4) will not be disappointed with FXCM, as the broker fully supports this powerful multiasset software. The platform comes equipped with an outstanding charting package, numerous built-in technical indicators, Fibonacci retracements, trend lines, support and resistance levels, and so on – pretty much everything a trader needs. Those who are handy with code may create their own automated strategies (EAs) and custom indicators in the MQL programming language.


Payment methods


Clients of FXCM may make deposits and withdrawals from and to their accounts via debit/credit card, bank wire transfer, check, and ACH (Automated Clearing House).




One of the biggest FX brokerages worldwide, FXCM is an excellent choice: a reliable and well-regulated broker, offering excellent trading conditions on a wide range of trading platforms. Here are, in a nutshell, the advantages and disadvantages with regard to this broker:



Pros Cons
Group of companies with multiple regulations Stocks, options, and futures are not available for trade
Tight spreads   
Low initial deposit  
A selection of trading platforms offered  
Advanced copy trading options   
Price improvement (e.g. positive slippage) is available  


Latest news about FXCM All news
Broker Country Regulation Platform Min Deposit Review
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for FXCM


* All times are GMT. The time now is hh:mm

Our SpreadMonitor is designed to scan FXCM quotes tick by tick and to provide you with unbiased information about the average, minimum and maximum spread for a certain timeframe.


At the present moment we are able to provide spread data only  from FXCM MT4 account. The spreads on FXCM's ActiveTrader ECN platform are a way better, however you need $50,000 to open an ECN accouunt and get access to them. 


Although spreads are an important factor in choosing a forex broker, you also should take into account commisions, slippage, regulation and broker's reputation.  


The spreads above reflect a 0.1 pip mark-up for the use of MT4. The 0.1 pip is in addition to the regular mark-up of 2 pips FXCM adds to the spreads it receives from liquidity providers.

FXCM Micro account holders are charged a service fee of $0.10 (1 pip) per 1,000 unit lot for each trade entered using the Mobile TS II.




Slippage is the difference between the price you’ve placed your market or pending order at and the price broker have executed it. Our slippage data is sampled from over 1000 real accounts, following the top 10 Zulutrade signal providers. 


Keep in mind that slippage may vary from trader to trader, depending on trading style, liquidity during the time of day when orders are executed, server location, network lag etc. Trading during volatile market (e.g. news releases) and low liquidity times (e.g. pre-Tokyo open Asian session) can lead to excessive slippage. To find our what is the slippage on your own trades with FXCM or any other MT4 broker, download our free EA.


According FXCM in-house statistics over 60% of all limit orders have received positive slippage add over 60% of all stop orders have received negative slippage.  Average positive slippage and average negative slippage in pips are not disclosed. 


On FXCM Trading Station you can choose between two execution modes: "At Market" and "Market Range". By default execution is set to "At Market" .


"At Market" orders are executed at best available price. You will never again get  "The market has moved" or "The price has expired" messages; however during volatile market your order may be executed a few pips away from the price displayed when order is submitted. "At market" means "No requotes"


"Market range" orders are filled within a user predefened price range. If the order can't be executed in that range, it's killed and you get "The price has expired" message. "Market range" set to zero means "No slippage"


On FXCM Metatrader 4 all orders are executed at first available price. You will never get requoted, however positive slippage as well as negative slippage may occur. 

Price feed

FXCM has obtained relationships with 10 of the most aggressive liquidity providers. With so many LPs, competing to provide you with tradable quotes you can be sure that even an individual bank try to skew its prices off the market, the prices streamed to you will not be affected.


FXCM does not take the other side of your positions, avoiding conflict of interest. So you don't need to worry about price manipulation and stop hunting.



MT4 is a user frienly and at the same time powerful forex trading platform. It comes equipped with an advanced charting package and autotrading capabilities. 


Benefits of using FXCM MT4

- No trade restriction - No restrictions on placing SL, TP or pending orders - you can place them inside the spread. Micro lot trading is available. Partial position closing is permitted. Scalping is allowed. 

- Build and backtest your own automated trading strategies. If you are not familiar with MT4 program language, FXCM can code your trading strategy for you.  To learn more about forex trading robots visit

-       No requotes. Ever.



Trading Station II (TS II) is the FXCM's in-house developed forex trading platform, available in Desktop, Web and Mobile version. TS II Web version is a very useful solution if you are a Mac user.


Benefits of using FXCM TS II

- One click dealing - open and close trades with a single click

- Trade directly from the charts with Marketscope built-in charting package

- Automated forex trading -  Strategy Trader add-on allows you to automate and backtest your forex strategies or run some of the preloaded ones

- No trade resrictions - you can employ any trading strategy including scalping

-      Slippage control 



Active Trader is FXCM's most advanced web based platform, designed for high volume traders. However you need $50,000 or 100 standard lots monthly trading volume in order to open an Active Trader account. 


Benefits of using FXCM Active Trader

-      0.7 pips spread on EUR/USD (+$3.5 commission per lot per side)

-      Up to 10 levels of market depth - it's a perfect short term market direction indicator

-      One click dealing - perfect for scalpers and day-traders

-      VIP customer service



Mirror Trader is a web-based automated trading platform designed to provide traders with access to hundreds of 600 auto trading strategies. Mirror Trader accounts incur 1 pip round turn commission in addition to the FXCM spread, which is how the platform developer makes its money


Benefits of using Mirror Trader

-      more than 600 auto trading strategies available to choose from

-      no trading or programming skills required







Bank Wire
Credit Card - $50 min deposit
Cheque - $2000 min deposit
ACH Deposits (US) 

Bank Wire
Credit Card



Customer service

FXCM  Customer service reps are available 24/7. They are really polite and ready to help. 


FXCM is one of the world's largest and most reliable forex brokers. The company is listed on NYSE and regulated on three continents. Its no dealing desk execution prevents conflict of interest and ensures transparency. Highly recommended.  



Upgrade your trading account

I deposited $400 than i made profit of 5182.74 and i get email saying "You have reached your trade limit and your to upgrade your trading account .Your account is placed on trade and withdrawal exemptions until the upgrade completed.Please provide a valid ID CARD and Make a deposit of $350 into your trading account in order to gain full function on your account"

SM 08/02/2019

FXCM is reliable

I used to trade with is also ok, they are not scammers. But i like fxcm Better.
Withdrawal is fast especially wire. I literally get my USD cash next working day. Also they charged
Only 5$ wiring fee.

I honestly do not know why others are having difficulty (if true)
With fxcm. I do not believe their complaints because My
Experience now with fxcm is good

Philip 06/05/2019

withdrawal problem

I opened a trading account with FXCM, made a deposit of $ 1800 and then made a profit of approximately $ 2,700. After that I ordered the withdrawal of the principal capital ($ 1800) and the withdrawal was successful.
Then I asked to withdraw the profits of ($ 2715) and the amount was deducted from my trading account with notification that the transfer needs 3 to 5 working days to reach my bank account, but on the fourth day on 03/07/2017 the amount was returned to the trading account.
After that I was notified through email that your trading account has been temporarily suspended, and to this day the account is suspended and I can not trade or withdraw money, and whenever i communicate with them, they tell me that your account is under review.
They have been reviewing my account for more than a month without any updates, and I need to withdraw my money but they are preventing me from doing so under the pretext of reviewing the account.
(account no: 96053170 / name: EISA ALMASRY / broker: FXCM.COM)
Attachment: Account statement from the beginning to the day

EISA ALMASRY 08/06/2017

FXCM Friedberg Mercantile Group Ltd

If you willing to trade, with FXCM than thing before.They lost my ID, document few times before to open account, than after they lock my account and when market turn on in my direction, I was not able to trade even if I had enough margin to keep my position floating, regarding that I lost much more than I planet at beginning. I did what they ask , but Friedberg Mercantile Group Ltd was so busy to take care problems what they create for me.
They don't know what's going on and you are not important for them.
Make conclusion: if you are going to be satisfy wit company who don't care about you.

Val 05/17/2017

FXCM Contract expiry date

For sure the Contract expiry dates are available, but I would prefer if the dates where visible on the trading station, I know it’s done with other brokers, and I think it would be an improvement to a very good broker if FXCM also showed this vital info in a clearer manner.

Howard 04/30/2017

How safe is your trading company?

Do you use PayPal?

How much money is possible to make?

What is your minimum deposit to start trading?

How often can you withdraw your money??

Natalie Naylor 04/27/2017

spreads are sometimes good

Spreads are good!

Ana 01/22/2016

good broker

Good broker!

Ana 01/22/2016

Safety of funds

FXCM receives a lot of bad reviews from amateur traders.

Serious traders/investors choose FXCM because they are licensed by the most rigorous regulatory bodies in the world and withdrawals are processed in extremely prompt manner.

I wish their spreads were a bit lower, but I would not change them for a less regulated broker.

Teddy, US 10/05/2015

Traders The FXCM

Warning Traders!!! stay away from FXCM the compliance may lock your account for any resend they like and ask you for crazy and unnecessary compliance requirements even after your account is open and funded. They can slip your trades and when you close your account they my return your USD funded account in any currency they like causing you conversion fees. This all happen to us. plus they did not pay the 5% APR they advertised with out notice.

ines fassi 06/25/2015

Good platform and prompt payments

I made $4000 for 10 days trading EURUSD on FXCM's Trading Station.

I decided to withdraw my profit because of the lowering market cap of FXCM and the funds appeared in my bank account in 24 hours.

Don't expect too much from the customer support once you get your account open and funded. It took a week and 3 email to get my questions answered.

Bottom line: I'll keep trading with FXCM because I like their platform and prompt payments.

Ben, Netherlands 03/20/2015

FXCM Trading Station II platform is brilliant

Trading with FXCM for 2 years now. Their Trading Station II platform is brilliant, I'm making money on it.

Funding your account with credit card takes a minute and withdrawals usually take two days. Only my last withdrawal took a little longer, most probably because of the high number of withdrawal requests after FXCM got hit by SNB decision to abandon the EURCHF floor.

Support is helpful, available 24/7. Usually some Indian or Malay guys answer the phone during weekends.

My only concern is the rescue loan they get from Leucadia at brutal and bitter conditions.

Joe, Australia 02/11/2015

Avoid news trading and enjoy low spreads with FXCM

I've used FXCM's MT4 platform for 2 months now. I'm trading on a raw spreads account and I like the tight spreads and transparent pricing. I avoid trading during important news reports because of the wide spreads and extensive slippage (as it is for all brokers, FXCM is my 6th).

The good thing is that positive and negative slippage seem to run 50/50.

Edgar, UK 01/06/2015

Short history on MT4

I've tried a few brokers and FXCM is one of the good ones.


- Timely processing of withdrawal requests - I get my profits paid within couple of days.

- Good educational materials, videos and webinars.

- Wide choice of platforms, including MT and Trading Station. The most important for me are the Andoid and Windows mobile apps.

- Friendly support, although it might take awhile if you are in chat with inexperienced employee.


- Short chart history on MT4. I'm a signal provider and I need longer history to display correct strategy statistics and attract subscribers.

- Decent spreads on major currency pairs - not the lowest compared to other brokers, but good enough.

Andrew, UK 11/09/2014

Trading with FXCM since 2009...

I'm trading forex with FXCM since 2008 and I like this broker because of their reliable support, free educational videos and training webinars. Do not try to cheat and you will have no problems.

Vincenzo 10/08/2014

FXCM: Quality and dependability

The good:
Fast execution during all market conditions
Fast and helpful customer service.
Beeing a NYSE traded company these guys care about their brand

The not so good:
Their spreads are not the lowest out there

Bottom line:
With FXCM you get certain quality and dependability that you will not get at other fx brokers. Recommended.

JP, USA 07/31/2014

FXCM is a good spread betting broker

I'm from London and I've been spread betting with FXCM UK for 2 years now with no problems.

Unlike other spread betting brokers FXCM allows me to place pending orders as close as 1 pip away from the market price. Furthermore I'm able to trade micro lots, which is very important if you want control the risk.

Customer support is very helpful and I've had no problems with withdrawals. Out of all the forex brokers I have tried FXCM UK is my number one so far.

The only drawback I can think of is that FXCM spreads are slightly wider than the spreads of other forex and spread betting brokers.

Birk 05/17/2012

My money is safe with a $700M NYSE listed company

I have just started using FXCM as I was looking for a safe place to put my money and trade, I have seen all the things written below, slippage, moving rates, it took them a week to connect me to Zulutrade, however there are also some positives, I feel quite safe that my money is with a $700m company listed on the NYSE. If everyone here is seriously going to choose slippage and a couple of pips difference in a rate as their reason to choose a broker, then when that broker charges you a large undisclosed fee to withdraw your money, or they just don't pay up, or they go broke, you only have yourself to blame. This is a solid and stable company and I have been monitoring their rates (for Zulutrade anyway) and they really are not that bad, in many cases, good! It's your money at the end of the day.

I use this broker for Zulutrade and have been very happy with them, I only copy one person and the slippage for him is relatively low, I think 0.96. also the spread isn't that bad, I am looking at eurusd now, it is 3.4 take away the 2 pips for zulutrade and you have 1.4 pip spread. The main reason I started using them is that they are the biggest and listed on the NYSE, so I fell that my money is safe, which is most important to me. Also their withdrawals are free. If I had one criticism it would be that when I deposit in AUD, they have to convert it to USD for Zulutrade and they take a 150 pip margin for that.

mcm 02/15/2012

FXCM is a big and professional brokerage firm

FXCM is a big and professional brokerage firm. It certainly has some unhappy customers. However, my own experience with FXCM has been quite pleasant and sweet so far.

Their customer support staff are very professional, efficient, thoughtful and helpful. They do deserve 5 stars! It will be super if they can add more deposit and withdraw methods.

Ann 01/05/2012

The bigger the brokerage is the more bad reviews it gets

FXCM is a good company,I havent been trading with them that long buy my experiences so far is great. So far no requotes nor any other problems.

The best thing about FXCM is they have there own TS II platform for the people who want something different of MT4, and it looks great.Don't pay attention to the bad reviews,it seems like the bigger the brookerage the more bad reviews it get.That is just because the big companies such as attract a lot of NEW traders,they lose all their money in a couple of weeks and blame the broker.

Bottom line: Go with FXCM

Sonny 10/05/2011

FXCM teaches you how to become a pro trader at NO ADDITIONAL COST

I've been trading with FXCM for about 6 months. I've spent a ton of money trying to educate myself on trading the stock and forex markets. FXCM is, beyond a shadow of a doubt, in my opinion, the best company to associate yourself with.

If you have a live account ($2,000.00), you have access to their insturctor's teaching webinars. Their instructors are EXCELLENT. They teach practical trading application, money/risk management, trading psychology and much more. You can choose an instructor that is trading in the time frame you are interested in.

Their website is expertly done and loaded with meaningful information. If you want to give yourself the best start in trading you don't have to spend the money and the time that I did. Let the instructors at FXCM teaches you how to become a professional trader at NO ADDITIONAL COST TO YOU.

Fisher 10/04/2011

FXCM's MT4 is unstable, it Boston Technology’s bridge

I have been using FXCM for 18 months.

My advice is simple.

Do not use their Mt4 platform for live trading. It is unstable.

Mt4 connects to FXCM via a bridge with Boston Technology. This means that 'open' orders disappear in the synchronization process, execution is often slow and at times the interface can hang for up to 5-15 minutes depending on news events and volatility.

So, if you plan to trade seriously and eventually with size, find another mt4 broker.

On top of all this, FXCM takes no responsibility for technology issues and while their customer support has been good at times, when it really counts they fail to deliver.

Their proprietary Trade Station platform is more stable but lacks features and has an awkward interface.

Given the wide spreads and brokerage you pay FXCM, I would expected more from them.

I doubt that a perfect broker exists but you can most certainly do better than FXCM.

Charles 09/14/2011

FXCM's spreads are higher than a lot of brokers, but I value security

I've been with FXCM for two years now.

I never had an issue depositing or withdrawing funds. If a problem ever developed, support guys was always cordial and quick to remedy the issue.

Yes, FXCM's spreads are still higher than a lot of brokers’ especially non-regulated brokers, but I value the security. I would recommend FXCM.

LJim 08/17/2011

FXCM is a reliable and reputable choice for any forex trader

There are many foreign exchange market brokers to choose from these days; sticking with a prominent, well-known company is always a good idea.

With FXCM, more than ten years of topnotch forex market experience and a global presence ensures that traders are enjoying some of the most balanced and fair trading today.

The ease of using the FX Trading Station software makes FXCM a great choice for novices and experts alike, and FXCM’s No Dealing Desk trading execution policy enhances traders’ opportunities to nail down the best profits possible.

All told, FXCM is a reliable and reputable choice for any forex trader. 04/26/2011

My only problem is with the FXCM's iPhone app

I retract my previous comment about FXCM being a SCAM, they are quite good brokers. My only problem is with the iPhone app.

Whenever there is news or higt network traffic, it is impossible to connect with the mobile app. This does not happen in the trading station, and from now, I will use the mobile app only to check on my trades if I'm away from my workstation. These guys are not a SCAM, they are good brokers, and their software is amazing. A lot of the people who complain here either dont know what they are doing, dont know how to trade, or have poor risk management, end up losing their money.

My biggest problem, which I have since overcome was the psychology and money management. I'd find that I am in a losing trade, and the market would go against me. I'd start to get anxious, and after losing more than I should since I didn't have a stop loss, I'd double down, either place an even bigger order to recover my losses, and lose even more.

My other problem was I was over leveraging, and would often get a margin call.

First problem resolved by placing a stop loss on all trades, I can move it towards my open price but not away (that is one of my rules) and also for the psychology, I now if I lose 2 trades in a row, I stop trading for that day. These 2 rules have really helped.

ES, 04/01/2011

FXCM hunting stops? You must be kidding!

I have been trading with them them for a number of years now and they are a good solid company. There have been a few admin problems but they were sorted out fairly quickly.

I get really annoyed at the accusations of stop hunting simply because a stop is hit.The only way to confirm this activity is by comparing price against other reliable brokers. In the years I have dealt with them I have seen no evidence of this sort of activity. Their pricing is always identical or within a pip of other brokers.

If three or 4 brokers prices all go to a certain point then THAT IS THE CORRECT MARKET PRICE, confirm pricing against other brokers prices before making accusations.

As for margin calls, probably for nubies who unfortunatley know nothing about money management and allow greed to dictate their actions.

Rather take heed of the risk warnings and be grateful you were closed out on margin or you might have lost more than you deposited.

Spend some money on educating yourself specially "Money Management" and a person with mediocre trading skills can make money in this industry.

I do agree that they can buck up on their admin side, but their trade execution is good and I have never had a position added that I never placed or a trade closed for no rhyme or reason.

I note with a bit of dismay that all the larger brokers, who also happen to be the most regulated and adhere to the rules are all branded scams, this all seems like a bit of a joke.

Any further regulation in this industry will kill it for all of us.

I was interested in opening another account with a different broker simply to diversify and decided to do some homework as I did not know the broker when I came across this site.

Maybe a simple questionair will cut out a lot of the bogus accusations from inexperienced Years or months of trading experience? gearing used on trade? did you confirm pricing on another platform. Was there a fundamental at the time.

I am aware that there are some crooked brokers out there and maybe even some justified criticism on this review site, but to brand every second broker a scam because some ill advised, greedy, ignorant traders lose their money. This is a bit of a joke and certainly not a fair reflection of all the brokers branded scam artists.

Whilst I am all for freedom of expression maybe a few pertinent questions posed before a comment can be made will give a fairer more balanced view.

I am an independent forex trader with 12 years full time trading experience not affiliated to or working for any Forex broker; and find that I really cannot use the reviews found here as a reliable barometer to review any particular broke.

Graham 02/27/2011

Take MT4 and FXCM, and you get ECN trading - no Market Making

So, I am soo German, let's be more detailed *smile*:

MT4 sometimes make problems or has time lags with FXCM. Right.
Because that tool is build for MARKET MAKER broker - and FXCM isn't!
If you get the MT4 via FXCM they give information about that. via email and via telephone talk.
I believe they offer the MT4 - and have sometimes problems with that - because sooo many people asked about that tool. They heard about that tool and didnt wanna talk about other possibilites...

So, if there are sometimes problems with that tool - lets be fair and detailed - then its a problem of the software, not FXCM.

I trade via the Trading station of FXCM - manual.
Excellent fast and good tool. No problems!
But I wouldnt trade manual with the MT4.

If you wanna take MT4 and FXCM, you get ECN trading - no Market Making.
But sometimes time lags.
If you take MT4 with other brokers - mostly of them are Market Maker and you get bad execution...

So, decide avout that 2 possibilities!
Or trade manualwith FXCM without problems.

Jens, Berlin 11/27/2010

FXCM are excellent broker

FXCM are excellent broker. Fast execution and reasonable spreads. Customer service is ok too. I'm happy with them.

Bobi 11/23/2010

FXCM's software is very good and spreads are low

FXCM Service is very good. The call back in seconds, they answer to every Email within minutes! The software is very good, spreads are low...

Chris, forexrealm 09/25/2010

FXCM is a scam? What a joke!

I love how everyone says FXCM is so bad. They are only the biggest name going in FOREX, with about 200 million dollars in capital. All you people who say FXCM is a scam, "oh, they took all my money", they stop hunt, trade against you, you are all a joke. Can you say NOOBS? This is FOREX. This is the biggest market in the world, it is the most unregulated market in the world, it is also the most leveraged and volatile market in the world. This is the wild west of investing, and if you can't handle it, maybe you go hide under the covers of your bed where its nice and safe and warm. My advice: get a second job, it's not safe out here and it's not for the faint of heart. It's not for the quick-buck artist, or those who want to "get rich quick". I have pesonally both made and lost money doing the forex thing, mainly with FXCM, and a little with CMS Forex before FXCM came out with their mobile version. Nothing I've seen in my few years of trading had led me to believe either of these companys are scams in any way. In fact, FXCM gives out free advice and training if you have a live account with them. Not bad. Forex is very similar to stocks in that you don't go looking for trading oppurtunities, you wait for them to come to you. Example: The BP oil spill. As all the sheep were busy dumping their stock, I was scooping it up at a bargain price. There is a reason that these companies trade against their customers, why shouldn't they, when the majority is always wrong? FXCM will be the first to tell you, too. It's called the Speculative Sentiment Index or SSI. They update it twice a day, and even advise you which direction to trade. Is it their fault people go against their advice? I thought it was a free country. I'm with Oanda now, as their ability to trade any unit size gives unparalelled flexibilty.

Chad Kruger, Forexrealm 08/13/2010

Go for FXCM

Hai guys i'll trade in FXCM it's good trading platform and time frame fast responsibility low commission compare to all withdrawal every easy......go for it....

uthayakumar, Forexrealm 07/22/2010

My account with FXCM is below my initial deposit, but it is my fault

I have been with FXCM for about 4 months now. I have not experienced ANY of the negative items listed on this page. I don't get the complaints made here ... i.e. the platform opening up trades or not closing expediently. This has never happened to me and I have made hundreds.

Granted my account is lower than when I opened with 20K but that is my fault. Not the platforms.

Good luck all...

Jonh, Forexrealm 06/27/2010

I doubled my account with FXCM and...

As there is a lot of mention of newbies, and I am a newbie, I thought I would rate FXCM.

Firstly, Overall I have made a small profit.Initially i doubled my money and then lost it all.It was my fault and nothing to do with getting scammed. I risked too much and "played" FXCM a little like roulette.

When I did make a little money, and I am only talking about 2000, I was able to withdraw it quickly and easily.

I have been using the new mobile version which I have found very useful. It has many bugs and is only at the testing stage, but I have found it pretty reliable. When I did have a problem with not being able to use access my orders through my phone, I was able to call FXCM and they helped me out, even though I have a micro account and am not entitled to telephone or online assistance.

I am not sure whether FXCM does scam people, and I guess if they were going to they would try to scam bigger fish than me, after all, why scam a small fish and make $300 when you can scam a big fish and make $3000 or $30000.

If I was a bigger fish I would be concerned if I thought FXCM was taking positions rather than just filling orders. I would hope they were just acting as an agent between buyers and sellers and not a buyer or seller themselves. BUt I have no idea what they do.

Basically, I do all my trading online and i can see if an order is fille d or not. I don't think FXCM could scam me very easily. If they locked me out, it could just as easily help me as hurt me, so I don't think it would help them to lock me out. I think they are quite happy to let me and people like me trade freely-they make plenty from the commissions.

Newbie, 06/20/2010

All of my trades with FXCM have been executed without a hitch

When I started trading with FXCM, I at first was losing money left and right. But then I figured out what I was doing as far as forex goes, and to date am doing extremely well. I don't know.

All of my trades have closed and opened with out a hitch. I've never had a server problem, and all of my emails to them have been answered within a single business day.

So to me, anyone who thinks FXCM is a scam shouldn't be trading Forex in the first place. It is a high risk game, by the way!

Kurt, Forexrealm 05/16/2010

If FXCM is a scam, why don't you file a complaint with NFA?

Don't try to scam people when you're a scammer yourself.
You guys who post that FXCM scam, are in fact scammers.

"The scammers are complaining scam."

Here's a professional reasoning. Try taking it down, see if you can.

1. If FXCM is a scam, why don't you file a complaint with NFA?
2. If FXCM scam so many times, what on earth is the NFA doing listing them?
3. If FXCM scam, why so many people use them?
4. FXCM is one of the top dealer. They're too big to be scamming.
5. FXCM, FXDD, Interbank FX, FxPro, Alpari UK, Alpari US are all regulated.
6. You lost money? Prove it...
7. Demo? Don't complaint. Live? Complaint. Not resolved? File with NFA.
8. Every market maker earned alot from spreads. Why scam?
9. File a lawsuit? Sure, go ahead. You're going to lose.
10. Which scammer would "play fire" with a regulatory body?
11. Scammer would never register themselves with ANY regulator.
12. Any lawsuits are welcomed. You'd be welcome into the jail.

End of talk. Now let's see, who can fight my statement? 05/09/2010

I have never had a hanging order or any errors on FXCM's TSII

I use FXCM everyday and make a living on my PROFITS I get from using their trading station. I have never had a hanging order or problematic errors with the platform. I don't email them for issues when I can call them almost everday of the week and speak to a real person. Better yet, I can chat with them very promptly given certain market hours and you can even request that particular person to call you immediately. I trade millions of dollars in notational volume every month and still, no problems.

I can tell most these people their problems.. If your scalping, your wasting your time and your going to lose. If your trading the news, prices gap and you can't get in on the pairs as it happens and it's a terrible idea anyway. If your trading with a micro account, you obviously shouldn't be trading forex anyway... Is a few dollars really worth your time or even a brokers? Forex is not a hobby and isn't for the weak minded.

Given my experience with FXCM, I find them to be exceptional. Their spreads are generally low(given at least a standard account). All my orders are executed almost instantly. Customer service good, but can improve. Love their mobile platform. Best of all, THEY PAY! Everytime. I request funds and the transaction is completed usually less than a day.

I highly recommend new traders stay away from forex and try the equities market first. I give FXCM 4 stars because they can improve like everyone. These allegations are bogus and this is where you'll find those 95% you hear about. If anyone would of had a problem with FXCM, it would have been me, considering the amount of trading I've done with them.

Jason, Forexrealm 04/28/2010

FXCM refunded $1,000 with a simple phone call

My experience with FXCM has been, overall, very favorable. I have been a client since mid-2006, beginning with a small $300 investment as a micro/mini-trader. Trading almost daily on a part-time basis in the evenings and early mornings (PST and Hawaii Time), I have finally reached the point where I am ready to quit my "real" day job and trade full-time.

Having surfed and studied other broker sites from time to time, I feel overall that FXCM's educational and news sources are exceptional.

Their customer service? I was once refunded in full for a $1,000 loss with a simple phone call to customer service,after a spike on non-farm payroll morning, when my stop was overrun (looking back, I realize I should have never made the trade in the first place). Otherwise, my calls to customer service are generally answered within 10 seconds to one minute, and the one time out of many when my withdrawal request was not honored within 1-3 business days, two e-mails and a phone call settled the problem without any trouble.

I too have had trouble with slippage issues with FXCM during volatile news release periods, but I am willing to accept this in exchange for their exceptional reserves and comparatively broad menu of services. In sum, I have successfully ,worked for a number of employers over the past 30 years, including within the public and private sector, small businesses and Fortune 500 companies alike, and I have found the relationship I have with FXCM to be superior than with the great majority of these other employers, in terms of reliability, adaptability, and opportunity.

Mike, Forexrealm 03/27/2010

I used before, but I switched to FXCM

I'm an early-intermediate trader when it comes to forex. Played with FXCM demo, now first day with live account. I used before. FXCM resources are much more comprehensive, and I'm happy with the service at this point.

I had no issues trading today even during news events.

I love their charting software (was using MT4 which sucks in comparison, and I'm not interested an EA at this time).

Stops were properly executed.

Courteous service helping me get account setup.

All around I hope this continues because not having to worry about broker issues makes it more fun to trade. Not sure if the no dealing desk is fully truthful, but I was on a dealing desk before and did ok (as a novice), so either way I think I'll be good. I'm recommending this broker. I'll check in again every few months with experiences.

Franz Zemen 03/10/2010

FXCM is simply the best broker on the market

I believe FXCM is simply the best broker on the market. I have tried a few others on this list also, ease of use, FXCM in my opinion beat the ones that I did test.

truementor, goforex 03/05/2010

FXCM's trading platform is awesome for being completely free

I also have used FXCM since I started with Forex.

I have lost money, but it is not because the company is a scam, it's because I will admit that I am a noob and suck at trading.

Their customer support is always friendly and helpful, even when you're only dealing with hundreds of dollars.

Their trading platform is also awesome for being completely free. I will say that I'm disappointed with the removal of Stop-Loss, etc... But they can't help that. It's the regulators' fault.

CD, Forexrealm 03/03/2010

I am a professional trader and I trade with FXCM

I am a professional trader and I also advise over 1,000 other traders with entry exit orders. I am actually shocked and surprised to read most of these posts about FXCM.

Please email me specific details of the problems you have had

I do not endorse any trading house but I personally use FXCM for the accounts I trade and over 95% of my readers are using FXCM or

I have never heard a single complaint from anyone about either of the companies. If there is a real problem I would seriously like to know about it.


Jim Bredeson, forexrealm 02/21/2010

I had errors when I tried to exit trades with FXCM

I traded with FXCM for several months.

First, their customer support was very fast and efficient. Always a nice, knowledgable person on the othe end of the line.

I got money out with no problem whatsoever.

The funny thing was I had errors when I tried to exit trades from time to time and it ended up being why I quit them. Never knew if I was getting "played". It doesn't make sence for a broker to try to drain your account. Anyway, too many of these losing trades where I knew what to do, did it, and got errored into a loss.

I'm in the USA and the trading takes place in the UK. That may have had something to do with the errors, I don't know. I'm not ready to say they were scamming me.

Wheelo, Forexrealm 02/16/2010

FXCM ex-client

I traded in FXCM before and i have no problem with them. their online support is good. Im planning to open again with a new account.

ermer magbanua 12/16/2009

I am very pleased with FXCM

I am very pleased with them, trading for several years now. I will stay with them. I rated 4 because there is always room for improvement: news feeds, contingent orders.

bcfx, goforex 12/11/2009

FXCM's Boston Technologies bridged MT4 platform is a scam

I had a 30K account with them and was happy for several months until they moved all their Metatrader 4 to the UK and forced me to go to the BostonTech Bridged MT4. From there it went downhill and BostonTech is buggy as heck, and I would have to call them every other day to complain about trades that either didn't close in time (1 trade was 9 minutes late after hitting T/P) or they would give me a situation that was beyond their control. I had a trade that I had T/P at 30 pips, and it never closed on the EUR/USD, and two minutes later it was up about 70pips, and I tried manually closing it, and simply wouldn't close. The trade then automatically closed me with only 18pips!! I was outraged, and called them and they compensated me about 45 pips in return. Their services are good, but I suggest you to avoid their MT4 with Bostontech if you are doing high volumn until they fix all their problems.

JT, 11/22/2009

GBP/USD at a negative spread with FXCM

So far, 3 uneventful (no problems with platform or feed) trading weeks gone by. I have not experienced any platform "freezing" at anytime,so far. I actually saw GBP/USD at a negative spread twice. I did notice some Posters have opinions about how I should trade or record experiences. Maybe they should contact JasonRogers and request their own test? This isnt a science experiment using Imperical data. This is ex-client testing their CURRENT Micro account trading environment to compare with past environment. My past experience was not good. No serious complaints with current Micro environment so far

8fingers, 11/01/2009

I've never had spread higher than 3 pip with FXCM

I have been using FXCM for over a year now and have had no problems at all.

They allways pay, have good spreads. I usually just trade either eur/usd or gbp/usd, and never had a spread higher than 3 pip.

If I was going to say something negative is that the trading software is requires a bit of power from the computer, and tends to hang a bit if you have a slow prosessor. But this is a typical problem I have had on my old computer with any system e.g metatrader, fxnet and others.

So if your going to have your computer on studying the market, get a good computer and a good internet connection.

And the most st*pid thing I have ever read is that the broker makes more money if you lose? The broker isn't making any money on losing trades, it's just losing the money you deposited and traded on Bad trades! the only thing they make money on is the pip spread + interest on bad trades. but if your trade is a winner you get interest on the good trades.

That is one of the main reasons I use fxcm, because they give people a fair deal.

Jan Hansen, Forexrealm 10/30/2009

Execution can be slow only during news

So what's up then with the criticism on FXCM's execution in some other reviews?

Actually, the only time that execution can be slow at FXCM is during news events (i.e. just before or just after an important financial announcement). One should, however, not blame the broker for the reduced execution speeds during such events because it is a natural thing that will occur at any broker. The reason for this is that the market becomes extremely volatile around major announcements and a huge number of orders is placed in a very short period of time since a lot of traders out there like to trade on news. This results in possible slippage since your orders cannot always be filled as you planned under conditions of extreme volatility. As said, this can hardly be called a FXCM problem and it is more a general market issue. We would like to stress the fact there are much more strategies available then news trading so a good option could be to avoid news trading altogether (also because it is very risky). 09/27/2009

I blew off my account with FXCM because of overleveraged trading

I love their trading platform .

As for making money. Early on in my forex career, I overleveraged my account which resulted in several margin calls. I learned my lesson and now trade a small % of my balance. I prefer to enter and exit quickly, but if I have to leave the trade open, I feel confident, I can leave my computer and let it do it's thing

At least until you've proven to yourself that you consistently make small amounts of money trading at very low leverage, DO NOT TRADE at high leverage. Start with very LOW leverage and come up slowly. Really slowly. If you are trading at low leverage with proper account management AND you enter a trend, there's no reason to sit in front of your computer. Let the trading platform do it's work and go about your daily

Wesley, Forexrealm 09/14/2009

If FXCM is a scam, why don't you file a complaint with NFA?

Here's a professional reasoning. Try taking it down, see if you can.

1. If FXCM is a scam, why don't you file a complaint with NFA?
2. If FXCM scam so many times, what on earth is the NFA doing listing them?
3. If FXCM scam, why so many people use them?

John, 09/06/2009

I've been trading with FXCM for about two months

I've been trading with FXCM for about two months now. They have been very good with answering my questions. Trades executed well with no noticeable slippage. Their response to executing withdrawls has been great, I recieve my checks within a week or so by mail. I generally don't use market orders but limit orders to enter a trade so my trading techniques differ from most of the posts here. The spreads are acceptable considering the cost per round-turn on commisioned based trading. Most of the people posting here are just venting their emotions. Some trade planning in advance may prove helpful especially on when to enter a market.

RJD, 08/25/2009

I turned $100 deposit with FXCM into $994 in 4 hours

I deposited 100 dollars to test with this fxcm. I have experience trading the forex for almost 15 yrs. I tested their platform and it worked good. I turned 100 dollars into 994 dollars in 4 hours.

Next day when i traded, it just started to drop and drop and drop more. Margin calls were hit, spikes out of nowhere. I used my other broker and it was going 4-3-8-10 pips with fxcm it was 20-30-10-4-2-40 pips at once.

Beware traders from this broker.

FXCM Micro, 08/25/2009

Forget scalping if you intend to use FXCM is a frigging scam. Especially for scalper... forget scalping if you intend to use Yes, it's good if you stay in your trade for a week or so b/c you won't feel the "slippage" of 10 pips or so... Oh, when you complain them about it they'll blame it on your bad Internet connection.... this slippage is NEVER ever in your favor. It's always in their favor... they will enter you in trade 2 to 3 pips against your trade and when you come out they will again take out 2 to three pips... so forget about 1 to 2 pips spread that they advertise... it's actually never below 6 to 8 pips and I'm talking EUR/USD... if you trade some odd pairs then forget about it... it's redonkyless... time to find new broker... bye bye

Nas, 08/25/2009

The truth about FXCM

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.

Neil, 08/25/2009

FXCM a scam broker? That's just plain stupid!

FXCM a scam broker? that's just plain stupid, and people who have lost money through no ones fault but their own are the most bitter folk you are ever likely to meet.

If you want to know about this company go and talk to them, I've found them to be very professional, open and informative. I have been invited to their offices in Paris (I live in France), offered free seminars with guest speakers, if your a newbie their online starter course is incredible value with tutor back-up 24hrs a day.

Ric, 08/25/2009

FXCM widens spread during Asian session

No Dealing Desk?? sometimes possibly. Have had an account for a few years with FXCM. last six months have traded Asian session a couple times and after entering the market watched the spread to go up to 10 or more on the GBP/USD. Recently, had a spread of 8 but was in 10 pips of profit (standard account) set a stop at break even and stepped away for about 2 min. came back and was closed out @ -15 pips. MY charts showed no more then 1 pip movement (dialed it down to a 1 min chart). Their excuse was that the stop order was hit and the order slipped 15 pips due to low liquidity at that time of day. (11:00PM ET) Again... No Dealing Desk? mmmmmm.

ForexXPP, 08/01/2009

FXCM MT4 platform is freezing

Well, I already opened an account with FXCM using their MT4 platform through Boston Technologies.

The hard fact is that I would consider it the worst of the worst I ve ever tested & tried in my forex trading experience. The problems started just a week after fine & smooth trading with them. Problems I encountered were from system freezing while trading and when I am in a trade, deleting stop loses, and deleting pending orders.

b koori, 08/01/2009

FXCM execute my orders in split second

I have been using the Boston bridge to FXCM for scalping for months and I would say its the best solution I have found!!

I have been trading Forex for over 4 years have tried MM brokers,ECN etc.. by far Boston Bridge gives me the best solution to trade the market.

Execution is excellent within split second and fills are great!! I would say try it you will love it!! Months of testing for me is all the proof I need to tell you all!!


jshear 08/01/2009

FXCM is the daughter of the late Refco

Wide spreads, always pricing away 2-3 pips more expensive than other brokers. Lets not forget this is the daughter of the late Refco !

The company that got more than 300 regulatory actions from NFA & CFTC.

Waltec, 08/01/2009

FXCM MT4 demo

I have been testing FXCM Mt4 demo for almost a month and i cannot complain. It seems as if broker bitching will never die. When you lose money the broker gets flamed and all sorts of excuses and broker mishaps are thrown at the broker. But when you win some trades you seem to be happy.

My opinion: If you do not know the market and you do not know how brokers operate, then stop complaining and start learning about these things.

Cobra, 08/01/2009

FXCM is hunting stops

Losing money start moving me to NDD. Suspect lot of SL Hunting activities. Spreads for USD/GBP, USD/NZD are very high.

JT, 08/01/2009

FXCM Trading Station II vs MT4

I went live with fxcm uk for two weeks. I like:

-order opening is good, just opened at market price, no requote
-customer service is good

But there are few things I am very surprised. I traded with fxcm using their trade station II two years ago, order opening and closing were very good, order with tp level set got executed at that exact tp price. now I am using mt4, very rarely I got my tp price, sometimes I got more than tp price sometimes I got less.

NGSon, 08/01/2009

FXCM Active trader platform is ideal for scalpers

If you want to scalp, then the active trader platform is ideal for scalpers. You're paying a commission instead of a spread mark-up on each currency pair, and you also have access to level II type market depth to see the amount of liquidity being offered by the banks.

FXCM rewards high volume traders through the active trader platform since we're making money based on trading volume, and scalpers are generally higher volume traders. FIX api for is available for active trader as well.

J. Rogers, 08/01/2009

10 seconds order excution with FXCM MT4 - I give up

After a month of trading with fxcm mt4, I have to give up.

Too much and too many slippage. Order excution time vary from 1 to 15 seconds. When my order took 8 seconds to filled, I called fxcm support and I was told that it is normal for fxcm mt4 to fill order within 10 seconds!!!

The staff there also explained to me that bt mt4 works like a bridge to their trade station. so under mt4, order from mt4 --> trade station --> market --> trade station --> report back to mt4, so there is an extra time for a round trip between mt4 and trade station (in trade station, order goes directly to market). I felt like a second class client by using mt4

So with 10 seconds order excution is acceptable under mt4, I decided to give up.

Nong, forexfactory 08/01/2009

FXCM: NO Requotes but also NO FILL

The NO Requotes claim by FXCM is just a sham.

When the market is moving fast you get NO Requotes but also NO FILL !!!

PipStar, 08/01/2009

I neede to give FXCM's micro trading platform a fair review

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.

Neil, 07/27/2009

FXCM offers great education and superb customer service

I completely disagree with all the other "scam" ratings.

They offer great educational tools and have superb customer service.

I have never been closed out of a trade--either winning or losing--against my will.

Richard, forexrealm 05/17/2009

I have personally taken 300K profit out of FXCM

I posted this same message on all three boards for FXCM, Oanda, and as it relates to all three.

I trade two services and make my living full time with FX. These ratings are now useless. They are filled by people who lost their *ss with st*pid trades and can't accept that.

I use FXCM and Oanda. But my two friends who also trade full time use Forex.Com

I have personally taken 300K out of FXCM over the last 6 months in profit. Thats net withdrawels. These three services are not scams. They make a lot of money on the spread and interest and its to their advantage for you to make money and make more trades. Remember, when you make money, they hope its from other services and leads to more trades. I have other 1400 trades on the sites. I looked at my spread and commisions (FXCM has a commision for gold members, but ultra low spreads), it was over 30K last year. No wonder they like me. But my profit was over 500K.

It's not a scam and not impossible, but its a full time job for me. I spend 12 hrs per day 6 days per week studying. I read every paper in the world and spend hours on my charts.

So ignore these fools. But treat it as a job and do your homework. If you treat it like Vegas, then you will lose just like Vegas. This is my career. No different than being an banker, doctor or lawyer. I get paid very well, but I have lots of stress, many sleepless nights trading the London market and days where I lose 10-20K. But the days I make 20-50K, they make up for it. From what I see, FX trading is very binary. Either you can do it or you can't. So most either lose their money or make a ton of it. Luckily, I fall into the latter.

S Dalton, Forexrealm 04/26/2009

FXCM micro account spreads are very good

The spreads are very good. I trade the EUR/JPY usually around 1.2 pips on the micro account.

Generally good reaction from the platform except after news. After news, the system may in fact lock you out as has been reported on this board.

I did not have this problem at forex^com but I dont like their spreads as much. Forex^com also had the advantage of a wireless trading protocol which FXCM does not have.

Mark, Forexrealm 03/28/2009
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