FXCM Review – best growing Forex broker with great Forex platform
Inc. Magazine rated FXCM among the best growing Forex firms.
It has made their top 500 list 3 years consecutively.
FXCM has Head Offices in New York, U.K, Italy, Hong Kong, Japan, Australia and France.
It is licensed and regulated in all of them.
Since 30th June 2010, FXCM has more than 165,000 trading accounts on their podiums.
The average of more than $250 billion in theoretical size is traded every month on the trading platforms they offer.
FXCM provides many account categories intended for qualified traders in addition to those traders who are fresh to Forex.
The small account is intended for those traders who are new to online money trading. It needs the primary deposit of only $50. Small accounts may be created not only in American Dollars, also in Pounds, Euros, Canadian Dollars, Australian Dollars, Japanese Yen and New Zealand Dollars.
FXCM also offers a trading account that is accessible for 30 days plus loaded with $50,000 demo currency.
FXCM review – Trading Station platform review :
The platform used for all account categories is identical, but a separate user ID and password is required for multiple account types.
One benefit of online dealing is having the option to trade with no Trading Desk. Using this option, the traders essentially trade on the rates given directly by banks, which allows FXCM to offer spreads as low as one pip.
FXCM also offers the option to trade through the Dealing Desk that gives the traders full protection against the spread, if they are hesitant.
In these cases, the spreads suggested are usually three to five pips on main money pairs.
The procedure of registration for real currency accounts, both standard and small, are strict, and need to include employment information and your financial details. If you are not a U.S. Citizen, your account approval needs a copy of photo ID and a utility bill to verify your address.
Once you have your FXCM account number, depositing money is simple.
You can deposit via paper cheques, bank transfer, debit cards and credit cards. U.S. residents can also submit electronic checks/e-cheques.
FXCM’s trading podium (FXTS) requires downloading on your desktop. The products offered are day trading, (stop loss, take profit) in addition to behind stop & limit orders plus entry orders. The hedging trait is accessible in No Trading Desk accounts used for customers of FXCM UK.
The analysis data and charting tools are also available from the website, outside the trading podium, or may be included alongside the podium with plug-ins that require downloading.
FXCM now offers a toolbar to download in your browser that provides immediate access to the Forex market updates and currency rates, as well as allowing alerts to preferred rates.