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FXCM Review 2024

Written by
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg

June 10, 2024

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail CFD accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Our research led us to highly recommend FXCM for those interested in forex and CFD trading due to its advanced platform offerings and favorable overall experience. It is especially suited for investors interested in algorithmic trading.

Overall Rating

8.5 / 10

Minimum Deposit

Starts from $50

Trust Score info

Highly Trusted

Pros and Cons

thumb_up_off_alt Pros

  • Broad Trading Platform Options: FXCM offers numerous third-party platforms, such as MetaTrader 4 and its own proprietary platform, catering to diverse trading preferences.
  • Competitive Spreads: The average spreads on its active trader accounts are significantly lower than the industry average.
  • Active Trader Discounts: FXCM rewards its frequent traders with discounts, enhancing trading cost efficiency.

thumb_down_off_alt Cons

  • No MetaTrader 5 Support: FXCM does not offer MetaTrader 5, which might be a drawback for some traders.
  • Limited Product Portfolio: With only 440 tradeable symbols, FXCM’s range of products is below the industry average.
  • Average Rating for Investments: The offering of investments is considered average, which might not satisfy all investors.

Ratings Summary

  • Investment Types - 7.0/10
  • Commissions & Fees - 8.0/10
  • Trading platforms - 9.5/10
  • Research - 8.5/10
  • Mobile Apps - 8.0/10
  • Education - 8.0/10
  • Overall - 8.5/10

Can I trust FXCM?

Yes, you can trust FXCM. Our review shows that it is a publicly traded company authorized by major regulatory bodies including ASIC in Australia, MiFID in Europe, and FCA in the UK. According to, FXCM's trust score is 95, making it highly trusted.

FXCM is currently licensed and/or authorised by the following regulatory bodies:

Is FXCM good for beginners?

FXCM is well-suited for beginners, providing comprehensive educational materials and user-friendly platforms. That said, there is some room for improvement and the overall educational offering still trails some industry leaders in this category.

Feature FXCM logoFXCM
Education (Forex or CFDs) info Yes
Client Webinars info Yes
Videos - Beginner Trading Videos info Yes
Videos - Advanced Trading Videos info Yes
Investor Dictionary (Glossary) info Yes

FXCM commissions and fees summary

We found FXCM's fee structure to be very competitive, especially with an average EUR/USD spread of 0.74, which is below the industry standard of 1.08. Combined with VIP discounts for active traders, FXCM proves to be a cost-effective option. If you are unable to effectively take advantage of these active trader discounts, however, you'll find pricing to be overall higher than average.

Feature FXCM logoFXCM
Minimum Deposit info Starts from $50
Average Spread EUR/USD - Mini info 1.38 info
Average Spread EUR/USD - Standard info 0.78 info
All-in Cost EUR/USD - Active info 0.78 info
Active Trader or VIP Discounts info Yes

FXCM trading platforms and tools

tips_and_updates Did you know? Trading platforms comparison

Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.

FXCM's trading platforms and tools are highly recommended. The availability of MetaTrader 4, TradingView, an assortment of add-ons for algo trading, and its own proprietary platform Trading Station provides traders with excellent technical resources.

Trading platforms offered: FXCM provides excellent trading platforms, including the popular MetaTrader 4, TradingView, and proprietary software options.

Trading tools: FXCM provides a variety of trading tools to enhance trading efficiency and effectiveness.

Copy trading: FXCM offers copy trading services, allowing users to replicate the positions of experienced traders. Note that certain copy trading services, like ZuluTrade, are not available to clients residing in the U.K., Australia, South Africa, or Italy. Copy trading isn't provided at all to residents of France

Feature FXCM logoFXCM
Virtual Trading (Demo) info Yes
Proprietary Platform info Yes
Desktop Platform (Windows) info Yes
Web Platform info Yes
MetaTrader 4 (MT4) info Yes
MetaTrader 5 (MT5) info No
DupliTrade info No

FXCM trading platform screenshots

Mobile trading apps at FXCM

FXCM's mobile trading apps are recommended, offering robust features that ensure traders can manage their accounts and positions from anywhere.

Feature FXCM logoFXCM
Android App info Yes
Apple iOS App info Yes
Mobile Economic Calendar info Yes
Mobile Alerts - Basic Fields info Yes
Mobile Charting - Draw Trendlines info Yes
Mobile Watchlist info Yes

FXCM mobile app screenshots

How do I open an account with FXCM?

  1. Visit FXCM's official website.
  2. Click on the "Sign Up" or "Open Account" button.
  3. Fill in the required personal details and submit the necessary documents for verification.
  4. Once verified, fund your account using one of the available deposit methods.
  5. Begin trading after your account is set up and funded.

What can I trade at FXCM?

FXCM allows trading in 43 forex pairs and 440 tradeable symbols, which remains below the industry average of 3,623 tradeable symbols.

Feature FXCM logoFXCM
Tradeable Symbols (Total) info 440
Forex Pairs (Total) info 43 info
Social Trading / Copy Trading info Yes
Cryptocurrency (Physical) info No
Cryptocurrency (Derivative) info Yes
Spread Betting info Yes

FXCM research screenshots

Account funding at FXCM

FXCM supports various funding methods, including bank wires, Neteller, PayPal, credit cards, and Skrill, making it easy for traders to deposit and withdraw funds.

Feature FXCM logoFXCM
Visa/Mastercard (Credit/Debit) info Yes
Bank Wire (Deposit/Withdraw) info Yes
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info Yes
Neteller (Deposit/Withdraw) info Yes

About FXCM

FXCM, founded in 1999, is a well-established player in the online trading industry. The company has built a strong reputation through its commitment to providing robust trading solutions and by adhering to regulatory standards set by major financial authorities globally. This long-standing history and regulatory adherence make FXCM a reliable and trusted choice for traders around the world. FXCM is a subsidiary of Jefferies Financial Group Inc (NYSE: JEF), formerly known as Leucadia.

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At, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.

Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.

Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).

AI disclaimer

We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Editorial Team provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for and Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for and He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

Jeff Anberg
Jeff Anberg

Jeff Anberg is a Staff Editor at and Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.