Forex.com vs. FXCM

If you’re reading this article, you’re likely having trouble deciding whether Forex.com or FXCM (Forex Capital Markets) is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.

In this Forex.com vs. FXCM review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:

Feature Forex.com FXCM
Headquarter : United States United Kingdom
Regulation :
CFTC, FCA, NFA, FSA, ASIC, IIROC, SFC, CIMA, MAS FCA, ASIC
Type of Broker :
Market Maker No Dealing Desk
U.S. Clients Allowed :
Minimum Deposit :
$50 $300
Maximum Leverage :
1:50 1:50
Commissions / Spreads :
Variable Spreads Variable Spreads
Account 1 :
Standard Mini
Account 2 :
Premium Standard
Account 3 :
Active Trader
Demo Account :
Islamic Account :
Segregated Account :
no (non-US clients)
Managed Accounts :
Institutional Accounts :

Features and Platforms

Forex.com

Forex.com provides trading interfaces on multiple platforms. It has a web option, mobile apps on Android and iOS, and a desktop application that comes with advanced trading resources. Those advanced resources include customizable indicators, the ability to program automatic trading strategies, and over 100 charting tools out-of-the-box.

If you’re a programmer, you also have the option to trade through Forex.com APIs.

Forex.com’s web interface contains all of the features of a standard Forex trading platform

Forex.com’s web interface contains all of the features of a standard Forex trading platform. | Source: Forex.com

Novice traders have quite a few resources to learn all about Forex on the company website. Forex.com hosts an entire educational portal that provides resources on trading concepts, managing risk, and technical analysis, among other themes. The website also manages an up-to-date economic calendar of potentially impactful Forex events.

FXCM

FXCM’s trading platform, aptly named Trading Station, is similar to Forex.com’s with several types of charting tools, indicators, and market statistics. It’s available on the web, as a desktop app, and on Android and iOS devices. Another similarity to Forex.com, FXCM provides APIs to create programmable trading strategies. FXCM’s Trading Station is similar to Forex.com in its scope of offering

FXCM’s Trading Station is similar to Forex.com in its scope of offerings. | Source: FXCM

In addition to the trading platform, FXCM offers a suite of free and non-free apps that you can plug into your interface.

FXCM also has a comprehensive Knowledge section on its website. It covers educational topics about Forex trading, the worldwide economic market, and how to become a better trader. Additionally, the company has created an exhaustive video library and hosts daily webinars

Feature Forex.com FXCM
Type of Platform : MetaTrader 4, Proprietary platform MetaTrader 4, Proprietary platform, Web-based
Platform Languages :
  • English
  • Japanese
  • Chinese
  • English
  • Chinese
  • Spanish
  • Italian
  • French
  • German
  • Other
OS Compatibility :
  • Windows
  • Mobile
  • Web
  • iPhone
  • iPad
  • Windows
  • Mobile
  • Web
  • iPhone
  • iPad
Trading Signals :
Charting Package :
Market Analysis :
Chart Trading :
Automated Trading :
Scalping :
Hedging :
Mobile Alerts :
Trailing Stops :
Guaranteed Stop Loss :
Guaranteed Limit Orders :
Guaranteed Execution :
One-click Execution :
Interest on Margin :
Web-based Trading :
Mobile Trading :

Available Markets

When comparing the number of supported markets between the two exchanges, Forex.com has a clear advantage. The platform supports over 80 currency trading pairs, while FXCM offers less than 40.

This list represents a small portion of the over 80 markets that Forex.com offers

This list represents a small portion of the over 80 markets that Forex.com offers. | Source: Forex.com

In addition to Forex, Forex.com supports gold, silver, futures, and futures options trading. In this respect, FXCM’s markets are slightly more encompassing, including multiple indices, commodities, and cryptocurrencies.

Feature Forex.com FXCM
ETFs :
CFDs :
Yes (Non-US Clients Only)
Commodities :
Metals :
Stocks :
Oil :
Gold :
Binary Options :
Indices :

Typical Spreads and Fees

Forex.com

There are three different account types you can trade through on Forex.com - Standard, Commissions, and Direct Market Access (DMA). The Standard account has no commission fees, but the spreads are generally much higher than the other two account types. When you trade with the Standard account, spreads fluctuate in the one to three range for popular trading pairs with EUR/USD reaching as low as 1.1.

The Commissions and DMA accounts are more favorable for high volume traders. They provide spreads as low as 0.2 and 0.1, respectively, for the USD/EUR market but charge a commission. If you choose the Commissions account, you’ll pay $5 per 100 thousand base currency that you trade. Your commissions with a DMA account follow a variable fee schedule.

Commissions on Forex.com’s DMA accounts vary from $20 to $60 per million that you trade

Commissions on Forex.com’s DMA accounts vary from $20 to $60 per million that you trade. | Source: Forex.com

FXCM

The spreads on FXCM are on par with Forex.com. The average spread on EUR/USD, for instance, is 1.3.

For Active Traders (>150 million monthly volume), FXCM lowers the spreads on each market, once again to levels similar to Forex.com. As an Active Trader, you pay $25 per one million base currency you trade.

FXCM charges a 50 base currency fee for a year of inactivity but has no withdrawal fee.

Security and Trust

Both Forex.com and FXCM have a generally stellar track record and adhere to strict regulatory standards. Be wary, though; in 2017, the U.S. Commodity Futures Trading Commission fined FXCM for defrauding retail Forex customers.

Forex.com

FXCM

Forex.com launched in 2001 and has quickly grown to become the largest Forex broker in the United States. In the first quarter of 2019, the company managed $1.3 billion of customer assets. FXCM is older than Forex.com with roots established in 1999. However, Leucadia, a publicly-traded company, bought out the trading platform in 2015. FXCM has won several awards in categories such as best technical tools, best customer support, and best Forex provider, to name a few.
To keep customer funds secure, Forex.com separates them from the company’s operating assets and stores them in reputable banks around the world. The Forex.com team regularly audits and reviews these banks. Like Forex.com, FXCM keeps user funds in segregated accounts at top-tier world banks. FXCM also provides an execution scorecard of their own, detailing many of the same statistics as its competitor.
Directly on the Forex.com website, you can find an execution scorecard that outlines the platform’s:
● average execution speed.
● percentage of improved limit orders.
● and average price movement per limit order, among other statistics.
The company also publicly publishes its financials every quarter.

Forex.com Vs. FXCM – Verdict

There are many more similarities than differences between Forex.com and FXCM. And, you couldn’t go wrong trading on either platform.

If a wide selection of Forex markets is important to you, however, Forex.com should be your pick. Otherwise, both companies offer competitive spreads and trading interfaces with an ample number of analysis tools. Try trading with a demo account on both platforms to get an authentic feel of which one would be best for you.

Feature Forex.com FXCM
Website Languages :
  • English
  • Japanese
  • Chinese
  • English
Support Hours :
24/5 24/7
E-mail Support :
SMS Support :
Chat :

Read full Forex.com Review
Read full FXCM Review