Thank you for taking the time to evaluate our service, John Keith! FXCM has a history of fraudulent business practices that lasted from 2009 to 2014. Namely, the company offered its users a no dealing desk platform and gave them misleading information that damaged their trades.
Thank you so much for taking the time to leave us a 5-star rating, Ronald! Sanjay has always been a valuable member of our strong customer service team. We are very happy that our service meet your expectation and will continue to keep it up for our customers. AvaTrade is more suited for experienced traders who are looking for a wide range of products and advanced educational resources.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner – especially for algorithmic trading. Though its range of tradeable markets is growing, it remains fairly narrow, and the pricing at FXCM is just average. Customer service is a non-negotiable for me, and both brokers excel in this department. FXCM and AvaTrade offer a plethora of support channels, including live chat, email, and phone. Both brokers offer multiple trading platforms, but they excel in different areas.
Trading with Indices allows you to reduce the risk of your exposure when trading volatile instruments. All CFD option is commission-free, which means costs are included in the spread. This platform is a worthy alternative to Trade Station and MetaTrader. FXCM operates four subsidiaries around the world that are overseen by different financial authorities. The leverage you are able to trade with depends on whether you sign up to the UK, European, Australian or South Africa entity. Active Traders commissions can be less than most ECN brokers once you factor in that FXCM has lower commissions.
We were privileged to have the opportunity to serve you, iliya! We look forward to continuing our relationship with you in the future, and should you have any suggestions how we can improve your trading experience here, please do not hesitate to drop us a note or call. The Market Scanner feature also provides you an up to date and speedy overview of trading opportunities in the market.
But if you’re into automated trading and want a platform that’s easy to navigate, AvaTrade is the better choice. FXCM offers its proprietary Trading Station platform, which is excellent fxcm canada review for advanced charting and custom indicators. AvaTrade, on the other hand, offers its own AvaTradeGo platform alongside MetaTrader 4 and 5, which are excellent for automated trading.
As we strive to excel in our industry, we are honored to have clients like you. If there is anything more for which you may require our assistance, don’t hesitate to contact us. Hello Brenda Narcus, please stop with this type of advertisement for your company. This is a trusted reviewing site which requests you to provide real information for your claim here. Yes, based on your detected country of NL, you can open an account with this broker. FXCM is regulated by several top-tier authorities, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).
Experienced Australian forex traders that require a very specific niche forex platform should consider FXCM. Those that require high leverage or are looking for low spreads/fees should review our best Australian forex broker comparison table and a provider like Pepperstone for advanced traders. 67% of retail investors lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing money. An Active Trader account can only be opened if the trader has a notional trading volume of over CAD 10 million. This trading volume is calculated based on the funds deposited into the trading account and the notional value of the open trades on the platform.
Things are looking good for the future reputation of FXCM, but it will be a while before it is completely healed. This happened because FXCM had a relationship with an important market maker at the time. This concealed relationship led to a conflict of interest between FXCM and its users, which resulted in users losing money. FXCM is currently owned by the reputable Jefferies Group, formerly known as Leucadia National Corporation. The brokerage is regulated by multiple regulatory bodies to include the Financial Conduct Authority (FCA) and the Australian Securities & Investment Commission (ASIC).
If you are looking for the best possible spreads, then Active Trader is the best choice. Spreads with FXCM’s active trader account are cheaper than they may appear when you compare with other brokers as FXCM off lower commission fees. The overall lowest spreads are offered by IC Markets in our head-to-head comparison. Our experts find FXCM a good reliable broker with lots of benefits and appealing conditions.
Commissions start from $0.07 per side of 1,000 lot, $0.70 per side of 10,000 lot, $7 per side of 100,000, and $70 per side of 1,000,000 lot, which applies to major forex pairs. Others have commissions starting from $0.09 per side lot and up to $90 per side. They also implement safety practices for traders such as negative balance protection and segregation of funds.
FXCM (Forex Capital Markets) is a forex broker founded in 1999 in New York, currently based in London, UK. The company was banned in the U.S. because of fraud charges. Global Brokerage, Inc. the previous parent company of FXCM filed for bankruptcy in late 2017.
David also has deep knowledge of the Forex industry and spends substantial time fact-checking the accuracy of the information about the brokers for the website. FXCM offers a Standard account with a $300 minimum deposit and an Active Trader account that requires a hefty $25,000 minimum deposit. AvaTrade keeps it simple with a one-size-fits-all $300 minimum deposit for both its Standard and Professional accounts.
Ninja Trader has a few interesting features aside from the plentitude of trading and analysis tools. Tech-savvy traders can use NinjaScripts to develop their custom indicators and trading strategies easily, and the platform also has automated trading capabilities. Users can choose FXCM’s own Trading Station or some of the other well-known trading platforms like MetaTrader 4, ZuluTrade, and NinjaTrader. Also, MetaTrader 4 users can automate their trading using “expert advisor” or EA software they can program themselves or obtain from third parties. Also, institutional investors, retail brokers, emerging market banks and hedge funds can take advantage of FXCM Pro.
An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. FXCM has lower costs, particularly when it comes to spreads. FXCM offers spreads starting from 0.7 pips, while AvaTrade starts at 0.9 pips.
Your review means a lot to us, and we are delighted to hear about your positive experience. If you ever want to share any further feedback, we’d be happy to hear you out. FXCM provides customer service via toll-free numbers around the world in 42 countries in North and South America, Asia, the Middle East and Europe. The broker’s multilingual phone service and the live chat feature on its website are available 24 hours a day, 5 days a week. The range of markets available with FXCM is quite broad however you can find other brokers that offer more choices for each financial instrument.