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 Zulutrade.com.
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
Average profit: 16.0 pips
Average trade lifespan: 1 day
Average profit: 9.0 pips
Average trade lifespan: 5 hours
Average pips/trade: 5.0
Average trade lifespan: 18 hours
Average pips/trade: 12.0
Average trade lifespan: 15 hours
Average profit: 28.0 pips
Average trade lifespan: 3 days
Average profit: 22.0 pips
Average trade lifespan: 13 hours
Average pips/trade: 9.0 pips
Average trade lifespan: 1 day
Average profit: 9.0 pips
Average trade lifespan: 11 hours
Average profit: 10.0 pips
|Account type||Minimum deposit||Minimum trade size||Maximum leverage*||Average Spreads||Execution|
|Standard||$2 000 ($5 000 in the US)||0.01||1:100||0.4 pips + commission $4 (£3 in the UK) **||NDD|
|AciveTrader||$25 000||0.01||1:100||0.4 pips USD + commission $1.8 – $4 (£1.8 – £3 in the UK) **||NDD|
*Leverage in the US is limited to 1:50.
** Commission is calculated per standard lot of 100 000 base units (per side).
FXCM offers three account types: Mini, Standard, and Active Trader. The Mini account is the only account that provides Dealing Desk execution and which involves no commission fee. In addition, API connections are not available on Mini accounts.
As regards the broker's renowned No Dealing Desk execution offered on Standard and AciveTrader, FXCM spreads are pretty tight due to healthy competition of liquidity providers, including global banks, financial institutions and other market makers that make up. furthermore, Price improvement (e.g. positive slippage) is available.
For those unwilling to expose themselves to the greater risk related to trading in large volumes, micro lots are available on all account types.
Minimum initial deposit
In order to open an account with FXCM, one has to invest just $50, which is a low minimum initial deposit. In comparison, the minimum initial deposit required by FXCM’s main peer, FOREX.COM, is also $50.
Spreads & Commission
FXCM offers variable spreads, averaged 1.5 pips on commission-free accounts, which is on the upper end of average. NDD accounts, on the other hand, provide significantly tighter spreads, averaged 0.5 pips for the EUR/USD pair, and involve a commission of $8, so basically trading costs amount to around 1.3 pips per standard lot for this pair, which is a competitive pricing.
In addition, Active Trader account holders may benefit from commission discounts, provided that they satisfy certain trading volume requirements. In comparison, FOREX.COM offers commission-free trading and average spreads of 1.4 pips on EUR/USD. For further information, you may check out and compare real-time spreads of 15 leading brokers here.
The maximum leverage level offered by FXCM is up to 1:400, which is considered a high ratio. Nonetheless, many FX brokers provide similar leverage levels – check out a list of brokerages offering leverage up to 1:500 or higher here.
Of course, the maximum leverage levels allowed FXCM’s US clients is 1:50.
|Forex Capital Markets LLC||US||CFTC, NFA|
|Forex Capital Markets Limited||UK||FCA|
|FXCM Australia Pty. Limited||Australia||ASIC|
|FXCM Israel Limited (IB)||Israel||ISA|
|FXCM South Africa (PTY) Ltd (IB)||South Africa||FBS|
Forex Capital Markets (FXCM) Is a major forex brokerage and the undisputed leader on the US forex market (in terms of both retail trading volume & client deposits).
This broker takes regulation, financial transparency and investor protection very seriously. In order to maintain transparency of operations, the company has introduced FXCM Financials – a site where anyone can see the broker's balance sheets, income statements, EBITDA details, customer equity, etc. Besides, all companies within the FXCM group are regulated by some of the most respected regulatory bodies in the world: NFA in the US, FCA in UK and ASIC in Australia.
In fact, FXCM is one of the few brokers that still operate in the US retail forex market. Although the US regulation is considered as one of the best in terms of investor protection, the stringent regulatory rules are limiting from both traders' and broker’s point of view.
For instance, hedging is not allowed and leverage is limited to 1:50, while European brokers are free to provide leverages up to 1:1000 or even higher than that. Leverage is a powerful tool that allows small investors to operate with large amounts of money by depositing relatively small amounts and actually be able to profit from small fluctuations of financial instruments ‘prices. Of course, the price they pay for this is higher risk.
Furthermore, NFA-registered brokers are required to maintain a net capital of at least $20 million to guarantee customers’ positions, which is the highest minimum capital requirement worldwide. In order to meet this requirement, FXCM took the unfavorable 300 million loan from Leucadia after suffering great losses from the Swiss Franc spike in January 2015. As a result, FXCM is now 50.1% majority owned by FXCM Inc., while the rest of the group moved to the hands of Leucadia National Corporation.
In the last couple of months, FXCM expanded in Israel and South Africa and Israel via Introducing brokers, who acquired licenses from Financial Services Board (FSB) and the Israel Securities Authority (ISA), respectively.
Also, since September FXCM shares are trading on NASDAQ, having moved from NYSE. So, traders who choose to invest in this global publicly traded company, regulated in several jurisdictions, need not worry about the security of their funds.
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 platforms ZuluTrade and Mirror Trader.
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;
- - Big-data technical analysis indicator Grid Sight Index.
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 200,000 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 pure NDD execution, trading from charts, creating your own trading, 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.
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:
|Group of companies with multiple regulations||Stocks, options, and futures are not available for trade|
|Low initial deposit|
|A selection of trading platforms offered|
|Advanced copy trading options|
|Price improvement (e.g. positive slippage) is available|
FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
|Cyprus||CySec||MT4, MT5, Web||$5||Review Website|
|US, UK, Australia||CFTC/NFA, FCA, ASIC||MT4, Web,
|UK, Australia, Singapore||FCA||MT4, Web,
|UK, Cyprus||FCA, CySec||MT4||$5||Review Website|
|UK, Cyprus||FCA, CySEC||MT4, MT5, Web,
|UK, Bulgaria||FCA, FSC||Web||$150||Review Website|
|Belize||IFSC||MT4, MT5||$100||Review Website|
|Cyprus||CySEC||MT4, MT5||$300||Review Website|
|New Zealand||FMA||MT4||$1000||Review Website|
|Belize||IFSC||MT4, Web||$500||Review Website|