Are you tired of sifting through countless reviews for forex brokers that lack the necessary details? Look no further, because we have compiled the Best More Detailed Review Of Fxcm Forex Broker 2023.
From trading platforms to customer support, we’ve got it all covered in this post. If you’re considering FXCM as your next forex broker, or simply want to stay up-to-date on industry trends, read on for an informative and engaging dive into one of the top brokers in the market.
What is FXCM?
FXCM is a leading online forex trading and CFD broker in the UK. Offering Competitive Spreads, Excellent Customer Service and Real-time live prices, FXCM is an ideal choice for beginner and experienced traders alike. With over 15 years experience in the industry, FXCM has gained a reputation as a trusted and reliable broker.
The Different Types of Accounts Offered
There are three types of accounts that FXCM offers: the Standard account, the Active Trader account, and the commissions-based account. The Standard account is a good choice for beginner to intermediate traders who want to learn how to trade with low risk. The Active Trader account is best for experienced traders who want to trade with higher risk and potential for higher rewards.
The commissions-based account is best for advanced traders who want to trade frequently and are willing to pay higher commissions for the privilege.
The Pros and Cons of FXCM
There are a lot of different factors to consider when choosing a forex broker. In this article, we will take a more detailed look at FXCM, one of the leading brokers in the industry. We will cover some of the pros and cons of using this broker so that you can make a more informed decision about whether or not it is right for you.
Pros:
- FXCM is a well-established and reputable broker with over 15 years of experience in the industry.
- They offer a wide variety of currency pairs to trade, as well as other financial instruments such as CFDs, metals, and indices.
- They have very competitive spreads starting from 0.2 pips on major currency pairs.
- They offer several account types to suit different traders’ needs, including standard accounts, ECN accounts, and managed accounts.
- FXCM is regulated by multiple financial authorities around the world, including the FCA in the UK and the ASIC in Australia.
Cons:
- Their customer support could be improved – it can be difficult to get in touch with a live agent during busy times.
- Their platform lacks some advanced features that other brokers offer, such as social trading and copy trading.
- The Different Types of Instruments Traded
There are a variety of instruments that can be traded on the FXCM Forex platform. These include major and minor currency pairs, as well as a range of commodities, indices and other financial instruments.
The different types of instruments that can be traded on FXCM Forex are:
Major Currency Pairs: EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD.
Minor Currency Pairs: EUR/GBP, EUR/JPY, GBP/JPY, CHF/JPY, AUD/JPY.
Commodities: Gold, Silver, Platinum, Palladium.
Indices: S&P 500 Index (US), FTSE 100 Index (UK), DAX 30 Index (Germany), Nikkei 225 Index (Japan).
Other Financial Instruments: Bitcoin, Ethereum.
The Trading Platforms Offered
There are three main types of trading platforms that FXCM offers: the Standard account, which is best suited for beginner to intermediate traders; the Active Trader account, which is designed for advanced traders who wish to trade with higher volume and lower spreads; and the Professional account, which is geared towards professional and institutional traders.
The Standard account provides access to all of FXCM’s major platforms, including its flagship trading platform, Trading Station. This platform is available in both desktop and mobile versions, and offers a wide range of features and tools to help traders make informed decisions.
The Active Trader account gives users access to lower spreads and higher volumes, as well as a dedicated customer service team. This account also comes with a free VPS service for those who wish to trade using automated systems.
Finally, the Professional account is tailored specifically for professional and institutional traders. This account provides high-quality execution, low commissions, and direct market access (DMA).
The Education and Research Available
At FXCM, we offer a variety of educational resources to help you become a better trader. We have an extensive library of trading guides, webinars, and video tutorials which can teach you the basics of forex trading as well as more advanced strategies. In addition, our research team provides daily market analysis and commentary so that you can stay up-to-date on the latest developments in the forex market.
The Customer Service Offered
FXCM is a forex broker that offers great customer service. Their customer service is available 24 hours a day, 7 days a week. They offer a variety of ways to contact them, including live chat, phone, and email. They also have a very responsive and helpful support team.
When I had questions about my account or trading platform, I always received quick and helpful responses from the customer service team. They were also able to answer any questions I had about the forex market in general. Overall, I was very pleased with the level of customer service offered by FXCM.
Conclusion
In conclusion, FxCM is a great Forex broker for beginners and experienced traders alike. They offer a wide range of products and services that make trading Forex easier than ever before. Their customer service is top-notch and they have an in-depth knowledge base to help you with any questions or issues you may have. From the lowest spreads to one of the most comprehensive research platforms, FXCM has everything you need to get started in the world of Forex trading.