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FXCM

FXCM Review
Trader's rating 3.9
Editor's rating 4.7

Trading Accounts

 

FXCM UK

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 LTD UK FCA
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).

 

Conclusion

 

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  
   

             

 

Website: www.fxcm.com 

Headquarters:

55 Water St. FL 50, New York, NY 10041

Country: United States

Regulated by:
USA: CFTC, NFA # 0308179

US: CFTC and NFA (NFA Member# 0308179) 

UK: FCA (Firm registration #217689)

Australia: ASIC (AFSL #309763)

Hong Kong: SFC (SFC CE #AIM232)

Italy: CONSOB (#76)

Germany: BaFin (#122556)

France: Registered with the ACP, as the branch of Forex Capital Markets Ltd.

ActivTrades

ActivTrades Review
Trader's rating 5
Editor's rating 3.2

Trading Accounts

 

Account type Minimum deposit Minimum trade size Maximum leverage Average Spreads Trading platform
Standard  $100 0.01 (micro lot)  1:400 0.7 pips on EUR/USD  MT4,MT5,ActivTrader

 

ActivTrades offers its clients a single account type that would probably suit the needs of most traders, as the minimum initial deposit is quite low and micro lots are available for trade. Clients can trade with MetaTrader 4 or MetaTrader 5, two of the most popular and reliable trading platforms available in the industry with competitive variable spreads and leverage up to 1:400.


Additionally, ActivTrades offers swap-free (Islamic) accounts with zero rollover interest and therefore Sharia compliant. Also, there are solutions for Asset Managers with this broker - the Managed Accounts Allocation Manager (MAAM) is the ActivTrades tool enabling asset managers to operate their client's investments on both MT4 and MT5.


The Company. Security of Funds


ActivTrades is a No Dealing Desk (NDD) broker providing trading services in Forex, Contracts for Difference (CFDs) and Spread Betting, which serves retail and institutional clients alike. ActivTrades offers trading services for more than 50 currency pairs as well as indices, CFDs, gold, silver, oil and other commodities.


ActivTrades is the trading brand of ActivTrades PLC, a London-based company, which is authorized and regulated by the Financial Conduct Authority (FCA).


FCA regulation its famous for being among the strictest in the EU. To acquire a license from the UK financial watchdog, UK-based brokerages have to prove their good financial standing financial stability - to hold a minimum of €730 000 net tangible assets - and to meet various requirements. For example, clients` funds shall be kept in segregated bank accounts, separated from the company operating funds, and licensed companies are required to report regularly to the Commission.


Probably the most important thing in relation to FCA regulation is the fact that it involves a compensation scheme in the event that a licensed broker becomes insolvent. The Financial Services Compensation Scheme (FSCS) provides a maximum compensation cover of £50,000 per person.


Negative Balance Protection

As an added safeguard, ActivTrades offers Negative Balance Protection and will credit your account to a zero balance if your account goes into negative as a result of trading activity.


Trading Conditions


Minimum Initial deposit
Minimum initial deposit with ActivTrades is $100, which is a comparatively low amount to start with. In comparison, leading broker FxPro requires $500 from clients in order to start trading.


Spreads & Commissions

ActivTrades offers variable spreads, starting from 0.5 pips on EUR/USD and doesn’t charge a commission, which is a pretty good offer. The broker cites as typical a spread of 0.6 pips for the EUR/USD pair, while most brokers provide spreads within the range of 1.0 – 1.5 pips for this currency pair.


In comparison, FCA-regulated Trading212 offers variable spreads amounting to 0,9 pips on EUR/USD on its commission-free accounts. You may look up real-time spreads of 15 leading brokers here.


Maximum Leverage
The maximum leverage available to ActivTrades clients is 1:400, which is considered a high ratio, yet many brokers offer similar or even higher levels. FxPro, for example, provides leverage up to 1:500. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.


We would like to remind traders that high leverage levels involve higher risk, not only the probability of multiplied profits earned on a small deposit.


Trading Platforms


Clients of ActivTrades are offered a choice of several trading platforms: Metatrader 4 (MT4) MetaTrader 5 (MT5), and the broker's in-house ActivTrader.

 

ActivTrades' own proprietary platform ActivTrader allows new and experienced traders to be part of the market. The easy to use platform is available for desktop and mobile and boasts a range of intuitive features. As any decent trading platform, it also  has a one-click trading functionality to trade in a heartbeat and allows you to manage your risk and exposure with stop loss and take profit orders.


MT4 is globally popular for its innovative, on the go trading capabilities, advanced charting package, wide range of technical indicators, automated trade options with Expert Advisors and extensive back-testing environment. Not to mention its fast and user-friendly technology, designed to let you trade with ease. Here is a list of more forex brokers offering MT4 platform.


VPS service is also available with this broker, so that even if you decide to turn your computer off, your Expert Advisors will be still running.


The MT5 was developed and marketed as an improvement on MT4, yet many brokers still prefer the earlier technology, since many of MT4’s indicators and EAs are not supported on the MT5 platform. The reason for this is that MetaTrader 4 Language (MQL4) is not compatible with MetaTrader 5 (MQL5).


Nonetheless, ActivTrades` MT5 offers some advantages compared to the MT4, such as Improved tick charting, faster strategy tester, economic calendar, more timeframes (21) and order types. You may look up more brokers supporting the MT5 here


Methods of Payment


Clients of ActivTrades can make deposits to and withdrawals from their accounts via bank wire, credit/debit card, and e-wallets, such as Skrill, Neteller & Sofort. ActivTrades also has a prepaid card which is available to clients in certain countries. 


For all Credit cards and Debit cards outside UK a 1.5% fee is applied. ActivTrades do not charge for payments using any other method, although you might be charged from your bank when sending funds to your account using bank transfer.


You may hold an account in: EUR, GBP, CHF or USD.


Conclusion


ActivTrades is a reliable UK broker with strong regulation and many years of experience, whose offerings seem quite attractive. To sum up the above, here are the Pros and Cons with regards to this broker:

 

Pros  Cons
Strong regulation (FCA)  No significant disadvantages
Negative Balance Protection  
NDD execution   
Choice of trading platforms   
Commission-free forex trading  
Competitive spreads   

 

Hedquarters: 
1 Thomas More Square, London E1W 1YW

Country: United Kingdom

Regulated by: FCA

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