Choosing a Forex broker can be like finding a copper coin at the bottom of a copper foundry. Trying to find a qualified broker in a never ending sea can be a tough choice. This is why it is best to stick with well known names to get the best benefit. One of the largest in the business is FXCM or Forex Capital Markets LLC. A review of FXCM is following. This company was formed in 1999 and is one of the most relied and reputable brokers in the Forex market.
Headquartered in New York, it is part of a worldwide structure that offers the many traders using its services a flexible number of decisions when trading Forex. FXCM also has offices in London, Paris, New York, Sydney, Hong Kong and Dubai. The FX Trading Station software is regarded as being on the leading edge of FX software. Services offered are Standard, Mini, Micro and Demo. It also has registration with ASIC (Australian Securities and Investments), NFA (National Futures Association) and is a FCM (Futures Commission Merchant). Vital things that you need to know about trading with Forex Capital Markets LLC follows.
Deposits at minimum are $25 for a micro account, $100 for a standard account online and for a standard 10k account the deposit is $2,000. Application is an easy process and takes around 5-10 minutes to fill out. It takes 1-3 business days to process and an email will be sent to complete the sign up process. A demo or free account is also available for a period of 30 days. An account like this does not involve real money so it is a perfect way to learn. No Dealing Desk is another feature with this brokerage firm. By not having one, it eliminates conflict of interest between traders and brokers.
Leverage limits are flexible with accounts used by traders. Maximum leverage on accounts is 100:1. Traders can use their own amount as desired. Most trade using the default amounts based on a default setting for the margin. Trailing stops are also included in the software to help with risk management. Taking a look at trading spreads, there are low and flexible spreads available to the trader. For example GBP/USD can be as little as three pips while the EUR/USD can go for two pips. This can give quite the advantage to traders.
Here is the bottom line for Forex traders. While it is easy to go with just anyone in a sea of Forex brokers, going with a well known and prominent company is the better idea. FXCM has over 10 years worth of experience in the Forex field. It also has the global presence that you want and great software that can be used by experts and novices alike. With the addition of the No Dealing Desk, this gives traders more opportunities to nail down the highest possible profits. It is the best choice for traders trading in the Forex market today. The company is reputable and reliable in the dealings with traders and customers.
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