FXM Financial Group Review
You may not be entirely comfortable with the word “the” in the following sentence in the “About Us” section of the FXM Financial Group’s web site:
“FXM FINANCIAL GROUP has been the leading on-line broker since 2003 which provides high-class services and a whole complex of solutions to corporate and private customers for successful trading on the FOREX market.”
The firm appears to have offices or contacts in New York, London, Hong Kong, Budapest and Riga, Latvia.
Regardless, surely another company or two might lay claim to being the leader in the online Forex trading services industry.
What FXM Financial Group does offer to its clients is 24-hour on-line trade on the Forex market through the Internet or through a phone desk. Trading terms consist of:
• Minimum deposit from 100.00 USD.
• Spread from 2 pip.
• Leverage: from 1:20 to 1:400.
• Spread from 0 pip (Institutional customers).
• No commission in all transactions.
• Narrow spreads for 25 currency pairs, gold and silver.
• Automated dealings.
• Direct access to "Interbank".
Leverages vary based on the amounts clients are willing to risk.
Services consist of both live account option and a 30-day demo account.
The FXM Financial Group’s platform called FXM Trading Station appears to be proprietary. According to FXM, the platform allows traders to monitor their transactions and their account as well as perform technical analysis and develops trading strategies of their own.
FXM Trading Station offers the possibility of opening multi-currency accounts. That enables trader/clients to fund in a base currency (EUR, USD or CHF) and trade Forex and CFD's denominated in multiple currencies around the world from one account.
The FXM web site itself also offers links to Forex related analytics on an informational basis.
The FXM Financial Group web site presents partnership options to other firms and individuals as Introducing Agents, Introducing Brokers and web site Banner advertisers.
The FXM Financial Group’s web site does not detail the nature of its client support options in any kind of detail.
Educational options are somewhat misidentified as “Stock Market Terms” with a typical Forex glossary and a rather brief outline of the history and nature of Forex trading with the somewhat obligatory warning about its risks.
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