Since 2010, FXCM has received 35 industry awards from well-respected sources. It confirms their commitment to continue investing and improving their trading environment and maintaining a competitive edge for its clients. FXCM caters to most traders from its CFD account type, with the primary difference being by regulatory jurisdiction. ✅After the broker processes the withdrawal, the money will typically be sent to your bank account in two business days.
Trade Station
The trading instructions are accessible on their website and include subjects ranging from forex basics to sophisticated trading tactics. ✅Submit the withdrawal request, funds should be in your e-wallet within one to two business days. ✅Furthermore, the withdrawal will be processed back to the card, which can take a few business days to appear on your account. ✅Enter the amount you want to deposit and your card’s data, including the number, expiration date, and CVV code. ✅After being routed, complete the secure online application form by entering your name, address, employment data, and financial situation. Today, they are a recognized online brokerage with a worldwide reach that includes Hong Kong, Cyprus, Australia, Israel, South Africa, and Canada.
Yes, the broker periodically alters leverage and margin limits in response to market circumstances and regulatory guidelines. Should account equity dip below liquidation margins, active trades will be terminated to prevent further loss. Forex leverage and margin are indispensable for traders seeking to establish substantial positions with a small amount of initial capital. Yes, they allow traders to trade share CFDs with access to over 200 business shares. The specific broker levies a $50 yearly inactivity fee to customers who have not traded in the previous 12 months.
Overnight Fees
- The Market Scanner allows traders to select a series of technical indicators and returns buy and sell recommendations based on the input.
- The broker’s intuitive and easy-to-navigate website provides all the information you’ll need to open an account and begin trading in several markets.
- These include the brand’s proprietary Trading Station as well as the popular MetaTrader 4, TradingView, and Capitalise.ai.
When testing the in-house platform, I was struck by its ease of use and intuitive design. Both analysis and trades can take place directly from the chart with a few clicks, and the handy sidebar makes it very easy to cycle through tradeable assets. The broker advertises average execution speeds of 0.018 seconds, which makes them very competitive.
FXCM was launched in 1999 and has grown to serve clients worldwide, including Canadian traders via a regulated local entity. Once you submit all documents, FXCM reviews your application, which typically takes one business day but may be longer if additional information is required or during peak periods. After approval, you will receive a confirmation email with instructions for funding your account and accessing the trading platform. These insights are based entirely on my own trading experience and communication with their support team—not just what’s printed on their website.
Holding over 16 years of experience in global financial markets, and 4 B.A. Level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using… Within this particular account framework provided by the broker, traders gain access to various markets, encompassing cryptocurrencies, currencies, commodities, and indices. This tailored solution caters to investors pursuing opportunities spanning diverse asset classes.
Opening an Account
FXCM caters to most international traders, including residents of UK, Australia, South Africa, and Malaysia. Automated trading solutions often require a VPS service to operate effectively around the clock. FXCM offers two VPS solutions, charged at $30 or a currency equivalent per month. Traders who exceed $500K notional trading volume for three consecutive months will get the fee reimbursed. Here is a screenshot of the FXCM Trading Station platform during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Yes, FXCM is fully authorized under U.S. law and is registered with both the CFTC and NFA.
FXCM Deposits and Withdrawals
Friedberg Direct is a member of the IIROC which is the relevant financial authority of Canada overseeing financial services in the country. FXCM was founded in 1999 and offers a variety of trading services in partnership with Friedberg Direct in Canada. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com.
More Forex Guides
In order to open an account with this broker, you will need to make sure that you visit the correct website. Note that depending on your region, you will be redirected to the appropriate page, and the layouts vary slightly because of this. Multiple financial authorities regulate FXCM, and typically, you will head to the broker’s website and then to the footer section, where these will be detailed. However, it should be noted that depending on your region, the FXCM website will have a different layout and then also different regulatory information.
- This one details the top five forex oscillators used in technical analysis.
- It is important to note that most platforms are available on all devices, including Windows, Mac, iOS, and Android.
- The offer of market research and analysis tools is not exactly at the top of the food chain but is certainly above-average.
- Active traders enjoy exclusive services like one-on-one consultations, API access for automated trading, and market-depth insights.
- Information on this website might not be in real-time or entirely accurate, with prices potentially sourced from market participants rather than exchanges.
FXCM users have access to a basic pack of tools plus a great selection of technical analysis tools. The charting tools are outstanding and very customizable with more than 50 available indicators. FXCM has a history of fraudulent business practices that lasted from 2009 to 2014. Namely, the company offered its users a no dealing desk platform and gave them misleading information that damaged their trades. Our primary goal at The Tokenist is to simplify the word of financial decision-making, so that investing is not only easy – but also fun. FXCM does not typically offer a welcome bonus or sign-up rewards for new Canadian clients.
Slippage, or the unexpected difference in an exchange rate specified in a stop order or market order, can be either negative or positive. When the trader loses money, slippage is negative, whereas when positive, the trader receives a fill at a better rate than the prevailing market. FXCM’s slippage was reported as +87% positive or zero in its July 2021 Slippage Statistics. All these platforms are available on desktop, web, and mobile, giving you the flexibility to trade from anywhere. FOREX.com is authorised and regulated by the Monetary Authority of Singapore (MAS), ensuring compliance with Singapore’s financial standards.
Further, FXCM’s group entities are also regulated by the tier-1 financial authorities Financial Conduct Authority of the UK and the Australian Securities and Investment Commission of Australia. Then in terms of Market News, we can’t really discuss what it has or entails, as every time we tried to visit the page, it said that the server was busy. Join the Active Trader Program for monthly cash rebates and personalized support that grows with your account. The 1st tier ranges from $10 to $25 million traded per month and pays $5 per million, while the 5th tier pays $25 per million if you traded a minimum notional amount of $300 million per month. XTB is authorised and regulated by the UK Financial Conduct Authority (FRN ), with its registered office at Level 9, One Canada Square, Canary Wharf, London, UK.
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. I like the trading environment at FXCM, especially for high-volume traders using algorithmic trading solutions. FXCM is a very well-regulated fxcm canada review global Forex broker with a large client base and a big reputation to maintain.