- Name : FXCM
- Website : fxcm.com/uk
- Established : 1999
- Regulation : FCA, ASIC
- Country : United States
U.S. Clients Allowed :
NoDue to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.
FXCM US ReviewFXCM US Review
As of 2017, FXCM has ceased to operate in the United States, and has changed its name in that domain to Global Brokerage Inc. effective as of January 27th. The firm’s approximately 60,000 existing clients have been migrated to the broker Gain Capital. It has been confirmed that Gain Capital paid $375 per account. On 6th February of that year, FXCM committed to the U.S. Commodity Futures Trading Commission (CFTC) that it would not seek re-registration in the U.S.A. at any future time. Significant changes to the firm’s top management were also made around the same time, with the CEO departing and being replaced by an employee of the Leucadia National Corporation. Leucadia continues to hold a major equity interest in FXCM, having been the provider of a $300 million loan to FXCM following the sharp appreciation of the Swiss Franc early in 2015, an event which caused FXCM an immediate loss of $225 million.
FXCM Group, based in New York, is a leading worldwide online provider of foreign exchange trading and related services. Not many brokers are licensed to trade Forex in the US and FXCM is certainly one of the most experienced ones.
With Standard Accounts, raw spreads are displayed on FXCM US platforms and any mark-ups that had previously been included in the spread are presented separately as a transparent commission.
FXCM US took over the retail accounts from Alpari U.S. LLC in September 2013 and it is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA).
FXCM's pricing model allows traders to easily scalp the market, while providing increased execution benefits to stop and limit orders. In addition, FXCM clients benefit from no re-quotes, fast, efficient and transparent execution, with no restrictions.
FXCM Group offers several account types: Mini, Standard and Active Traders with 50:1 leverage on Forex. The Mini account lets traders enter the market with as little as $50, and includes innovative tools to help you develop good trading habits, right from the start.
The Standard account offers an exceptional trading experience, designed for serious traders who want FXCM’s full catalog of products and anonymous order execution with no trading restrictions – minimum of $5,000.
High volume investors can benefit from Active Trader that includes dedicated support, premium services and custom solutions. High-volume traders are eligible for greatly discounted pricing – minimum of $25,000.
In addition to Trading Station, its proprietary platform, FXCM Group uses the popular MT4 and Ninja Trader platforms.
The products offered are day trading, stop loss and take profit, as well as trailing stop / limit orders and entry orders..
|Review info :|
|Broker reviewed : FXCM||Rating : 9.4 out of 10|
|Reviewed By : Sara Patterson||Review Date : 2018-03-11|