When it comes to Forex brokers, it is well known that FXCM –Forex Capital Markets – is among the largest. The company has over one hundred million dollars in firm capital in its holding and also is recognized and regulated by the governments in Dubai, Hong Kong, Australia, the United States and the United Kingdom. With clients in close to two hundred countries around the globe that have more the 150,000 live accounts it is safe to say that they are good at what they do. In June 2009 saw FXCM working with customer funds that went beyond 600,000,000 dollars. For many these numbers alone verify the opening sentence. Continue reading this FXCM review, and then decide for yourself whether to take that next step.
FXCM is a lot like the other Forex brokers in the fact that it offers Standard and Mini Accounts. Lot sizes for a Standard account are 100,000 with a Minimum Deposit of $2,000 while Mini account lot sizes are 10,000 minimum with a Minimum Deposit of $300. FXCM likes to work in and with the retail market that does not call for huge minimum deposits.
One of the things that you, the client, are very likely to agree with is the fact that FXCM tends to offer PIP Spreads that can, and often do, drop below 1 whole PIP at times. You want to work with a broker that offers wider PIP spreads as market volatility changes. It is these variations that offer the widest opportunity for profits no matter what the markets are doing. If you want a Forex broker that offers fractional spreads you have that with FXCM.
FXCM has its own trading platform called the “FX Trading Station” that is very easily installed on your computer once you download it. It is the fact that everything a Forex trader needs to know is all there on a single screen that is easily understood. The trader has access to basic features that allow them to trade successfully and some of the more attractive advanced features that seasons traders like using. Customizing the platform to your own needs makes things so much easier. What many think is merely a convenience is more than that to Forex traders. As is the ability to execute lightning-fast trades when you are scalping.
It is the Meta Trader 4 trading platform that is the most popular trading platform in Forex trading today. This is one platform that many of the Forex traders and brokers choose because traders working with different brokers can benefit with this trading platform. The tools that are common to the Meta Trader 4 are accessible to and by everyone and even allows you traders to create trading robots all your own.
When you are working with FXCM you can be certain that you are not in competition with the very broker you work with as FXCM is a No Dealing Desk Broker. Brokers that have Dealing Desks certainly have a lot more to lose when you lose out on a trade. FXCM is working with 9 banks that give the best competition in terms of prices this bodes very well for the traders working with FXCM.
When it comes to having an FXCM review written by those that have tried the platform the main things complained about are the speed of execution of trade orders and accusations that FXCM trades against its own clients! It is the inexperienced Forex traders that do not completely understand the market and trading dynamics saying this. Major financial market announcements tend to slow down trading big time. This is nothing new!
One of the best strategies for a newbie to Forex Trading is to start with a free Demo Account with FXCM. This allows you access to around-the-clock Customer Service and Real-Time trading information and a fifty thousand dollar account to perfect your trading skills and strategies with. Opening up a real account is easy too.
FXCM does indeed have a great deal going for it when you compare it to many other Forex brokers out there. When you have good trading order executions and do not have a Dealing Desk to content with as well as the many options available, you have a good Forex broker indeed!