FXCM review 2019

Is FXCM a good FX broker?

FXCM is a solid broker for anyone who wants to trade currencies, indices or commodities. It offers low spreads and a minimum account opening, plus you can earn interest on your non-traded funds.

Spread

Account minimum

Regulation

Accepting US citizens

Minimum 1.3 pips on EUR/USD Active trader 0.2 on EUR/USD
$50
FCA
No

If you're looking for one of the lowest spreads in Forex, FXCM and its ActiveTrader platform may be worth considering. However, this is designed for high-volume traders who want fast execution and market depth. Occasional traders and investors could do fine with the standard account, but you will pay higher spreads.

FXCM also offers a 5% APR that you earn on your non-invested funds up to $50,000. That's up to $2,500 earned annually just by having your money in your account. Interest is paid on a monthly basis.

What kind of trading platforms does FXCM offer?

FXCM offers Meta Trader 4, a web-based platform and two proprietary platforms Trading Station and Active Trader. All platforms let you automate your trading, create watchlists or layouts and more.

You can also trade with a mobile app.

Standout features

  • Low spread. EUR/USD pair comes with spreads as low as 0.2 pips when trading on the Active Trader platform.
  • Earn interest. You earn 5% annual interest on non-traded funds up to $50,000. That's more than you would get in a traditional bank.
  • Trading platform. Seasoned FX traders may prefer the MT4 platform. But with the Trading Station or the Active Trader, you can get even more features. The latter comes with market depth where you can see price congestions.
  • Education. Get access to a vast education library, including videos, tutorials or guides.
  • Trading choices. Trade currencies, indices and CFDs.

Watch out

  • Minimum account opening. In an industry where you can open a trading account with a minimum deposit of $10, FXCM lets you open an account with a minimum of $50.

What can I trade with FXCM?

  • Currencies
  • Indices
  • CFDs

How do I signup with FXCM?

  1. Go to FXCM website.
  2. Click Open account.
  3. Fill out the application form.
  4. Fund your account.

Bottom line

Forex traders who want to trade with low spreads and who want to earn interest on their non-traded funds could find FXCM to be a solid Forex broker. However, to get the ultimate benefits with the Active Trader platform, you need a minimum of $25,000.