FXCM Review
FXCM has been founded in 1999 and is now among the largest brokerage companies in the world. You will find FXCM offices in UK, US, Hong Kong, Utaly, Dubai, France, Australia and Germany. There are over 150 thousand live trading accounts opened and an approximated trading volume of 365 million dollars monthly.
The FXCM registration process is very quick. You just need to go to the official website and fill a special online registration form. There are different types of accounts that you can choose from, based on user personal needs. The most common account is the Standard Forex Account. It requires a minimum deposit of 2000 units (USD, GBP or Euro). After you deposit you get access to support through online chat and email. The forex spreads allowed can be of just 1 pip and no re-quotes exist. Also, with a minimum deposit requirement of 2000 units we can also get a Metatrader 4 account. It is third party trading platform but a lot of people are used to it and you also get access to tips and suggestions from Metatrader 4 experts. The last type of account you can get is the Active Trader, which requires that you make a minimum first deposit of 25,000 dollars. You get all the benefits of the Standard account but you also get in-depth analysis of the current market trends, experts advise you on possible speculations and you will take advantage of an account type that was created for experts. Users can also opt for a demo account in order to see how everything works but it will only remain active for one month.
When talking about withdrawals and deposits we need to mention the fact that FXCM does not offer much flexibility. You can only deposit funds via bank wire, debit cards or credit cards. You will not see online payment gateways supported. Also, if you want to withdraw money from FXCM you will notice that the entire process is time-consuming and complex. A domestic user will receive money through a check while international users can request withdrawals through wire transfers.
The FXCM offered Trading Station platform is very easy to use and offers great online support and well integrated quality graphics. There are different versions available for both Mac and Windows users. The one feature that stands out is “Trading Through Charts”. This allows you to trade just by looking at trends that you notice in forex charts. It cannot get any easier than this. An experienced trader will want to use the Active Trader Platform, which is available for those that need more complicated features combined with real time info. If you own a wap-enabled mobile phone you may want to also download the FXCM Mobile Trader platform.
On the whole FXCM stands out as a very good platform that does answer to strict regulations. The support is given via email, online chat and phone on a 24X7 basis and there is even a forum that you can use. The only problem is that some features might be complicated for beginners but you can get over that and learn how everything is done with patience and the use of the demo account.
