FXCM is a US-based forex broker company founded in 1999 in New York. Trading rules and laws in the US are a lot stricter than in other countries, so it is a real success that this company became one of the industry’s leaders. Not only that, but they have even won numerous awards for their great work: they are the winner of the Best Forex Brand North America 2013 award by Global Brands and the Best Forex Brokerage Service 2013 award by Trader Planet, for example. This is a truly valued and respected broker, and traders certainly trust them. However, not even companies like this one can escape our thorough analyses. In this FXCM Review 2016, we are going to go through everything that can affect you as a trader, so that we can see what exactly you get when you open an account here. We found some very interesting stuff, so sit back and prepare to be amazed.
FXCM Review 2016 | Trading platform
When it comes to trading platforms, you have several excellent choices on this broker’s website. Let’s start with Trading Station, their in-house developed platform. It has excellent analytical tools for your charts, elegant design with high functionality and some exclusive features like Real Volume indicators and unique order types. It is also available as a web platform, which means you can use it in any web browser, and you can also download FXCM App for smartphones for trading on-the-go.
Your next option is trading via MetaTrader 4, the most famous forex trading platform. FXCM offer MetaTrader 4 with new and advanced features like Set SL/TP Pre-Execution, which for you means the ultimate trading experience. For trading with futures and stocks, FXCM suggest you use NinjaTrader, where you will receive competitive pricing, quality execution and a possibility to build your own automated strategy. Keep on reading, next on our list in FXCM Review 2016 are money transfers.
FXCM Review 2016 | Money transfer
Transferring money to your account is handled really well with FXCM. The fastest way to do this is by using debit cards that are accepted by FXCM (Visa, MasterCard, Maestro and Discover), and the minimum deposit for this method is USD 50. The next method that is available are ACH electronic checks, which is an electronic network for financial transactions in the United States. Here, the minimum deposit is USD 100, and this method is not available for initial deposits. You can also use a bank wire transfer, but be careful because it can take up to five business days for international transactions to deliver the money to your account. We should mention that you make all deposits, regardless of the method, on the broker’s MyFXCM.com secure client-service portal. As you can read in our scam test Is FXCM a Scam?, all of these methods are totally secure and safe, so there is nothing to worry about. Don’t go yet, we still have a lot more to cover in this FXCM Review 2016.
FXCM Review 2016 | Account types
Let’s see the account types FXCM has to offer – we are sure you will find one that is just perfect for you. There are three types of accounts you can open: Mini, Standard and Active Trader, so we’ll start our analysis with the first one. Mini is for beginner traders, since it has a minimum deposit of $50 and maximum of $20,000. However, there are some restrictions for this account that do not apply to other account type – you can’t use NinjaTrader, you only have 21 forex pairs and price arbitrage strategies are prohibited. For a bit more experienced traders, we suggest the Standard account. Minimum deposit here is $5,000 and there is no limit to maximum deposit with this type. You can use 39 forex pairs, trading is low spreads + commission, there is no dealing desk for executions and you can use NinjaTrader. The last account type, Active Trader, is for really experienced traders, since the minimum deposit is set to 25,000 USD. With this account type come a lot of exclusives: free VPS service, relationship manager, dedicated service team, free bank wires and FIX API connection, so this is something really special. If you are absolute beginner, we suggest first opening a FXCM Demo Account to practice trading and after a while decide for the right type of live account. Don’t go away, we still have bonus program to cover in this FXCM Review 2016.
FXCM Review 2016 | Bonus
Bonuses with FXCM depend on how much you deposit, because the more you deposit the bigger your bonus and advantages are. For a deposit of $2,000 or higher you will receive $100 on the FXCM App Store, which you can use to purchase trading tools like indicators and risk management tools, plus you get access to a 2-hour course on the fundamentals of trading. At $5,000 you get all of the above (here your credit on the FXCM App Store is $300) plus a free VPS, which is a platform that you can use on a separate computer for strategies and analysis. For a deposit of $10,000 you get everything already mentioned (here your credit on the FXCM App Store is $500) with an extra: a free bank wire. Finally, with a deposit of $25,000 or above you become a member of the Active Trader Group and get all the benefits of Active Trader account that we already mentioned. Once you pick an account read our FXCM Login article to see how to open an account and how to log in. This is it for FXCM Review 2016, let’s see the final result.
FXCM Review 2016 | Conclusion
We are sure you figured it out by now by reading this FXCM Review 2016, but this is an excellent broker definitely worth trading with. They have excellent trading platforms that are available even as apps, and their money transfer portal is totally safe and easy to use, plus you have several options to choose from when it comes to transfer methods. Furthermore, there are three great types of accounts, each with its own benefits, and the bonuses you get are really something you don’t see every day. Trust out judgement in this FXCM Review 2016 and make FXCM your broker. You won’t be disappointed.