trading platforms

Trading accounts — The FXCM Active Trader account is a popular choice with traders looking to save on trading costs, with a lower spread and a competitive commission of $5.00 per lot traded. With a Standard trading account, there are no trading commissions, but the typical spread for the EUR/USD ranges from a minimum of 1.2 pip to an average of 1.5 pip. We consider this spread to be in line when compared with other top brokers.

account opening minimum

If support is needed, I get response very quickly and problems are resolved fast though have not had any for a long time which shows the software excellent performance. We are happy to hear you are enjoying our service and we are looking forward to many more positive moments in the future. We were privileged to have the opportunity to serve you, iliya! In case the above is not exactly what you actually looking to have, please always let us know via Live chat. We are always more than happy to hear as much as possible about what could make your trading experience at FXCM even better.

Automatic option assignments and exercises are charged $15, while manual option exercises come with a commission of $43. is a brokerage that allows you to trade over 80 currency pairs, as well as CFDs on indices, stocks, and commodities. Trading with FXCM can be done via the MetaTrader 4, NinjaTrader, TradingView and FXCM’s own proprietary platform, the Trading Station. All the trading platforms are available for desktop and mobile trading.

The does not charge trading commissions and instead earns money through the fixed spreads that it charges traders. Interactive Brokers allow you to trade more than 100 currency pairs at very tight spreads (as low as 1/10 PIP, or 0.0001). The platform provides client access to professional forex trading tools and was rated five stars out of five overall in the Forex Brokers 2022 annual review. What strikes traders to the forex and CFDs market is leverage and no minimum capital requirement.

FXCM Regulators

The relationship between Friedberg Direct and FXCM was formed with the purpose to allow Canadian residents access to FXCM’s suite of products. Crypto News Flash is your number one source for the latest news and information from the world of cryptocurrencies. Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he’s been involved with the subject every day.

fxcm supplied in partnership with CashBackForex — Forex Rebates places FXCM on the top 30 brokers for popularity with traders opening an account in 2020. FXCM complies with the highest safety standards for client’s funds. For this reason, FXCM client’s funds are kept in top-tier international banks, such as the Bank of America and the Barclays Bank, fully segregated from the company’s funds. The customer service of FXCM is in English and French to provide the Canadians the chance to contact the broker in several ways. Traders can contact the staff by phone, email or live chat if they have any questions or problems. Various toll-free international telephone numbers also are available.

GLOBAL FOREX AWARDS 2022 Most Transparent Forex Broker – Global

Among them, FXCM and NSBroker stand out with rather competitive spreads, a diverse instrument portfolio, powerful trading platforms and many more. Forex Capital Markets Limited is regulated by the Financial Conduct Authority in the UK. Additionally, FXCM is regulated in Germany, Italy, France, Australia, and Japan.

  • Currency movements are almost entirely unpredictable and are impacted by a wide range of macroeconomic factors.
  • Inflated accuracy – Claims like “90%+ accuracy” are an immediate indication to be cautious.
  • Which one is more suitable depends on your understanding of financial markets and experience.
  • The minimum deposit requirement with FXCM is 50 currency units.

Great technical analysis research tools, rivaling even bigger brokers out there. Really appreciate how they lay out the straightforward fee structure, and not leave the trader guessing what they need to pay. Intend on using FXCM however as inactivity will lead to a fee down the road. So is a platform which is worth to use, even highly recommended, if you take trading for serious and want to be able to make a living with it.

Reviews by company size (employees)

Stock trades cost $0.01 per share, with a minimum commission of $8. For a limited time, CMC Markets is offering commission-free trading for all Canadian and U.S. stock CFDs available on their platform. Margin requirements for stock trades start from 15% in Canada and 30% in the U.S. While BMO has no minimum balance requirement, they do charge a $25 quarterly fee for non-registered accounts if your balance is less than $15,000. You can also avoid paying this $25 quarterly account fee by making at least two trades in six months. The account fee for registered accounts is $100 per year if the account balance is less than $25,000.

Scotia iTRADE’s commissions are similar to other bank brokerages, with their stock commission being $9.99 per trade and options at $9.99 plus $1.25 per contract. You’ll also get free access to level 2 quotes for TSX securities. For equities, Scotia iTRADE only offers stocks listed in Canada or the U.S.


Additionally , there’s the somewhat limited trade offer in terms of the available markets. We have participated in the live trading webinars several times and found them very interesting. This may be used indefinitely and enables the trader to get to understand all the functions of the trading platform. FXCM is a well-known forex broker that has already received several awards.

Meanwhile, the Ninja Trader platform offers several trading tools, capped by the automated trading capabilities. The available 150 indicator tools are the platform’s edge over the other platform offerings. Behind its globally-acclaimed status, FXCM had stained its once spotless reputation as a safe forex broker. FXCM was linked to several financial scams and was penalized by some of the regulatory bodies for its fraudulent activities. Moreover, NSBroker and FXCM become reliable partners on the ground of their negative balance protection policies. In particular, the former commits to hindering client account balances from being negative.

Could you please get back to us with your email address registered at FXCM and your trading account number? Alternatively, you can speak with us on Live chat via our website anytime during weekdays. As a client-oriented broker, we put a lot of effort into building and training the best customer support agents with the goal of providing the most seamless experience for our clients. After making 300% of my account value I was given a $5.5 spread on NASDAQ / US100 absolutely criminal.

  • However, FXCM seemed to have removed the Mini Account from its account options for traders.
  • Spreads on forex trading are as low as 1 pip (in this case, for EUR/USD).
  • It’s great to know that our platform is the right fit for your investing needs.
  • Further, forex currency pairs are the main contributor at both brokerages with the figure of approximately 40 instruments.
  • FXCM also offers swap-free accounts for traders of Islamic belief.
  • Keep in mind that this spread is ten times higher than the lowest spread offered by Interactive Brokers.

I have tried other Forex companies but will now only trade with FXCM. I find their trading platform easy to use and have never had a bad experience. I have always been treated with respect and courtesy would recommend them 100% to new traders. World-class trading software with a few ‘recommended’ brokers – This is a popular scam where investors are sold or offered free software if they deposit with a ‘recommended’ broker.

Reviews of FXCM Pro

One unique feature is that Oanda allows PayPal deposits via e-cheque. Other deposit methods include debit cards and bank wire transfer. Withdrawals can also be made back to your PayPal account, debit card, or bank account via wire transfer. The Scotiabank StartRight program, which is a special program for newcomers to Canada, offers 10 commission-free trades when they open a new Scotia iTRADE account with at least $1,000. Young traders, which are those under the age of 26, can qualify for a waiver of the account administration fee. Scotia iTRADE offers a list of over 100 ETFs that can be bought and sold commission-free if you hold them for at least one business day.

FXCM Review 2023, Safety, Platforms and Fees — FX Empire

FXCM Review 2023, Safety, Platforms and Fees.

Posted: Tue, 14 Dec 2021 08:00:00 GMT [source]

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Thanks a great deal for your positive review, Maroulla C. Antoniadou! It’s great to know that our platform is the right fit for your investing needs. If you ever want to share any thoughts or preferences, we are always happy to hear more about what could make your experience even better.

Tighter competition nowadays puts FXCM in the middle of the race for the best forex brokers online. If you’re new to the market and don’t want to suffer heavy tolls from strong market moves, NSBroker is a better option. Altogether with the humble leverage ratio, the large capital required to fund your account shortens the time of depleting your reserves after a consecutive losing trade. Besides, you don’t need to worry about debt payments thanks to the broker’s hindrance from negative balances.


Provided you pick the high leverage level, coupled with low capital, you may encounter the higher possibility of burning all account balance right after a few losing trades. If you’re between the ages of 18 and 24, and you have a CIBC Smart Account with CIBC Smart Start, you can get free stock and ETF trades, no annual fee, and no minimum balance requirement. Plus, the CIBC Smart Account is a bank account that offers free unlimited Interac e-Transfers and debit transactions, with free SPC+ membership. Options trading for young investors still come with a commission of $6.95 plus $1.25 per contract.

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