|Broker Rating||#13 (82%)|
|Founded and online since||1999|
|Min. Account Size||50 USD|
|Min. Position Size||0.01|
|Regulated by||ASIC, 309763 CFTC/NFA, 0308179 CONSOB (Italy), 76 FCA (UK), 217689 SFC (Hong Kong), AIM232|
|Platforms||MetaTrader 4, Trading Station II, MirrorTrader, Active Trader, Mobile Platform|
|Account currencies||Australian dollar, Canadian dollar, Euro, Great Britain pound, Japanese yen, New Zealand dollar, United States dollar|
|Support available in|
|VPS for traders||Free for deposits greater than $5,000.|
Forex Capital Markets, better known as FXCM, was founded in 1999 in New York, and was one of the early developers of online forex trading. In January 2003, FXCM entered into a partnership with Refco group, one of the largest US futures brokers at the time. Refco took a 35% stake in FXCM and licensed the FXCM software for use by its own clients. Following the collapse of Refco in October 2005, FXCM became entrenched in the Refco bankruptcy proceedings for a number of years.
In 2003, FXCM expanded overseas when it opened an office in London which became regulated by the UK Financial Services Authority.
In 2008, the self-regulatory organization for the US futures industry, the National Futures Association (NFA), obtained permission from the Commodity Futures Trading Commission (CFTC) to increase the minimum capital requirements, in staged increments, to $20M for “Forex Dealer Members” including FXCM. The increase was in response to the failures of a few forex brokers, and it allowed FXCM to acquire new business from some of its smaller competitors who either ceased all operations or moved out of the US. The same year it continued its overseas expansion and opened offices in France and Australia.
The following year FXCM UK started offering a limited number of CFDs to its non-US based clients, in addition to its currency products. In May 2010, FXCM acquired the UK CFD and spreadbetting provider ODL.
FXCM Inc. (NYSE: FXCM), is one of the leading world-wide providers of foreign exchange trading (currency trading) and related services to retail and institutional customers. FXCM, founded in 1999, was the first forex broker to list on the New York Stock Exchange.
What FXCM Have to Offer
Clients who trade on FXCM‘s award winning Trading Station platform can take advantage of mobile trading, one-click order execution, and trading from real-time charts. However, the heart of their client offering is their No Dealing Desk forex execution. Clients benefit from their large network of forex liquidity providers, which include global banks, financial institutions, prime brokers and other market makers, enabling them to offer competitive spreads on major currency pairs. Serious traders expect their orders to be filled quickly, at the best price available, and nothing less. This is what FXCM delivers. They fill your order at the best available price at the time the No Dealing Desk receives it. This price includes FXCM‘s markup which may vary based on account type and liquidity provider.
One of the advantages of their No Dealing Desk model is that we benefit from successful traders given that they make money on a per trade basis. For this reason, FXCM focuses heavily on providing educational services to their clients to help them become better traders. Through DailyFX.com, FXCM offers free news and market research, on-demand educational videos, live instructor sessions, and ongoing trading support by the course instructors.
FXCM is regulated and has offices in a number of global jurisdictions including: the United States, the United Kingdom, Hong Kong, France, Italy, Germany, Greece, Australia, and Japan. With offices, partners, and affiliates in the major financial centers of the world, they are uniquely positioned to provide exceptional service to forex traders around the world. View FXCM‘s International Offices.
FXCM takes regulation and financial transparency very seriously, which also means that they meet strict financial standards, including capital adequacy requirements. As a vocal advocate of financial services regulation and increased investor protection, FXCM‘s companies are registered with and regulated by some of the most respected regulatory bodies in the world. The U.S. regulatory framework is widely regarded as one of the best in the world for investor protection. View FXCM’s Financials.
FXCM has received numerous awards from the forex trading and investment community, including Overall Client Satisfaction from Investment Trends (2012), Best Currency Broker from Shares (2008), Best Retail Foreign Exchange Platform from FX Week (2009 and 2010) and Best Foreign Exchange Specialist from Technical Analysis of Stocks & Commodities (2008).