de | cn | ru

Brokers News

FXCM Expands Its Forex App Store

The FXCM Apps store has been running for about a year now but it seems to me that the service never managed to get too popular – or popular at all. This, however, may be about to change now that the broker has opened the store for third party developers, allowing them to sell their apps as long as they operate with an FXCM account. 
Until recently, Metatrader 4 (MT4) and Trading Station were the only platforms supported by FXCM Apps, however this has now changed to include Ninja Trader and standalone applications as well. 
So far, there have been no Ninja Trader apps submitted, however the broker anticipates these to fall into one of three categories: automated strategies, indicators, and add-ons. Standalone apps are divided into such for general trading, for analysis and reporting, and for utilities; these categories are already populated with five different apps like a historical data downloader, and app for closing multiple trades simultaneously, etc. 

Selling your apps

If you are a developer with neat app ideas, you can submit them to FXCM Apps. Keep in mind that all submitted applications will be reviewed by the broker's team. The two things that they'll be looking for are whether there are any bugs for fixing, and whether the apps are designed to operate under a FXCM account. This review process will be taking up to two weeks, and will follow six pre-defined steps described in the App store's developers section. Another requirement for submitting an app is that the listing is accompanied by a detailed description of the application, and FXCM offers developers help with this, should they face any difficulties. 
Once an app is approved and added to the store, developers are encouraged to promote them through their own, and FXCM doesn't exclude the possibility to promote certain apps so that they get more exposure and possibly higher revenues. 
Speaking of revenues, developers get to keep 80% of all the sales they generate, while FXCM keeps the remaining 20% as a commission for providing the store platform. Sellers are not charged any additional fees, apart from these 20% - not even transaction tax, which is covered by the app store.
This commission may seem a bit steep, however the broker will be taking care of the app's final compiling, creating an executable file, uploading, hosting, and payment setups – which is a lot of hassle and I am guessing lots of developers would be glad to pay for this. 
The prices of the apps are determined by the developers and discussed with FXCM to make sure they are reasonable. As per FXCM Apps' conditions, sellers get paid once a month through a bank wire or a check. 

Developers, where are you? 

Currently,  there are about 80 apps available for FXCM's clients to help enhance their trading. The prices of the apps vary between $0 and $500, with a great deal of apps available free of charge (currently there is even a special promotion for those who deposit $5,000 or more to their trading accounts – they get 6 apps worth $300 as a gift). 
The one thing I noticed is that it all of them, with no exception, are developed by FXCM itself. At the same time, we see a number of independently developed apps (strategies, expert advisors, indicators, etc.) on various market places like the MQL community, the Spotware's cAlgo community where programmers and traders can develop apps for cTrader, or even eBay-like sites such as GreatForexTrades
This considered, I can't help but wonder why is FXCM Apps not picking up – after all, the broker has  close to 200,000 active trading accounts and surely, many of these 200,000 traders have the capabilities of creating apps and offering them for sale or for free; so why aren't they doing it? The app store has all the potential to succeed, yet it doesn't – and as much as I hope it does, I doubt it that adding Ninja Trader and standalone apps would help much. 

About FXCM

FXCM is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide.
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts.
FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through
TAGS: forex broker  forex trading  forex  FXCM  forex apps  MT4 apps  cTrader  Trading Station  FXCM Apps  forex strategy  expert advisor  forex indicator 

More news about FXCM

Broker Country Regulation Platform Min Deposit Review
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5,
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC 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
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

More Forex Brokers News

FXTM appoints Han Tan as a Market Analyst for Southeast Asia region

Apr 19 2019 13:28:36

  Global award-winning forex broker FXTM has just announced the appointment of Tan Chung Han (Han Tan) as a Market Analyst. Read more

FXTM gets a license from Mauritius’ FSC

Mar 28 2019 09:59:36

  Award-winning forex brokerage  FXTM (ForexTime) continues its ongoing global expansion. The broker announced it has acquired a license from the Financial Services Commission (FSC) of the Republic of Mauritius previous week. Read more

Fortrade is the first broker to get an ASIC license in nearly 2 years

Mar 20 2019 15:03:35

  Fortrade acquired a financial services license from the Australian Securities and Investments Commission (ASIC), which hasn’t been very welcoming of new retail forex broker applicants lately. Read more

FP Markets launches a suite of cutting-edge MT4 tools for traders

Mar 06 2019 14:31:42

  FP Markets, a market-leading Forex and CFD provider, launches MT4 Trader Toolbox, a suite of twelve online trading tools which will take their clients’ trading to the next level. Read more

Major broker IG launched its US website

Jan 31 2019 13:15:37

  Global brokerage IG launched its website intended for US retail clients ( Residents of the US (with the exception of those in Arizona or Ohio) can now register on the broker’s website in less than 5 minutes and start trading. Read more announced important updates to its Web Trading platform

Jan 25 2019 15:13:43

  Major forex brokerage  proudly announced important updates of its in-house Web Trading platform, which will take your trading experience to the next level.   Accessible from all browsers and operating systems, Web Trading was launched in 2017. Read more

HotForex parent gets licensed by UK’s FCA

Jan 21 2019 12:31:59

  Less than a month after HotForex acquired license to operate in the UAE, the trading services provider gets an authorization by the Financial Conduct Authority of the UK. The UK subsidiary of the HF Markets Group, HF Markets (UK) Ltd. Read more

Rakuten Securities offers HK$700 prepaid cards as a welcome gift

Jan 18 2019 10:26:57

  Hong Kong forex broker Rakuten Securities offers up to HK$700 Spending Limit Prepaid Card as a welcome gift to new account registrants. Here are all the details you need to know about the company’s promotional offer, which is valid from now until the end of March 2019. Read more

XM applies for a forex dealer license in the US

Jan 11 2019 13:39:14

  The US subsidiary of major forex brokerage XM has applied for a membership with the National Futures Association (NFA). This became clear from a filing by the broker’s US entity Markets Inc. (previously Trading Point US Inc.) with the NFA dated January 3, 2019. Read more

HotForex acquired DFSA license, commences operations in the UAE

Jan 08 2019 10:45:37

  HotForex is now licensed by the Dubai Financial Services Authority (DFSA) and announced it commences operations in the United Arab Emirates (UAE). The Dubai arm of the HF Markets Group, HF Markets (DIFC) Ltd., acquired the DFSA license in December last year. Read more

de | cn | ru