Info About FXCM

FXCM review

One of the biggest and strongest brokers in the market place today and very probably, the biggest! According to the broker, he does not make use of “Dealing Desk” which, in effect, indicates that there is no conflict of interests concerned when dealing with him. You get a correct picture of the trading situation as the broker does not “play” with your money whilst you are opening positions.

You are supplied with a amount of choices for managing your trading account. For illustration, you are not limited to getting dollar based mostly account only and can pick from a variety of currency choices to manage your account. In addition, there are a amount of trading platforms obtainable to pick from so that you can use the platform that finest suits your wants. Some of these platforms need to be installed on your pc whilst others let you to trade through the brokers’ web site without having the need to set up a system locally. Most of the platforms, if not all of them, are easy to use and efficient. As with any situation in which you can pick between a range of choices, some are marginally greater than others, but you have the chance to pick the platform that most closely fits your wants. 1 of the choices open to you is to work with the “METATRADER 4” system, a first rate and hugely specialist system.

According to the broker, because of his financial strength and the huge trading volumes he specials in, he has a unique relationship with the four biggest banks in the globe which permits him to give you greater trading ailments. He is nonetheless, nonetheless, topic to the normal laws and regulations governing trading and below the supervision of regulatory bodies.

Demo Trading
One of the possibilities open to you is unlimited “Demo” trading which will allow you to learn, experiment and practice your trading skills at no financial risk, but also, with no profits. Alongside the “Demo” possibilities, the trader offers a range of accounts that you can open. These include a “mini” account with an investment starting at $25. Should you decide to invest at least $2000, you can open a regular account or an account that enables you to trade using the “METATRADER 4” program. Alternatively, you can open an account that issues trading orders automatically for you so that the need for your intervention is minimal. Yet another possibility open to you is to start with an investment of $25,000 and upwards and open what is known as an “ACTIVE ACCOUNT”. Each different account has its own characteristics. Each gives you different possibilities for leverage and profits. Each type of account provides you with a different range of trading tools and trading conditions and terms. As a general rule, the higher your investment, the better the conditions you receive. Score: 9.8

Initial Investment
As we have already explained, you can start trading with an initial investment as low as $25 for a “MINI” account. All other accounts require a minimum investment of $2000 or more. Score: 9

Deposits and withdrawals from your account
The opening of an on-line account requires that you fill out some forms as is perfectly reasonable and legitimate to expect. The process is not the fastest in the world, but also not the slowest and doesn’t take up to much of your time. Funds can be transferred to your account via credit card or bank transfer. Withdrawals are made directly to your bank account. Score: 8

Spread
Again, the more you invest in your trading accounts, the benefits in SPREAD that you receive are substantially greater. This can range from 2-5 PIPs for the main foreign currency pairs in a small account. In a larger account you will receive much better conditions even, and this is not a typing error, 0.1 PIPs to 1.9 PIPs for the main foreign currency pairs. Please remember that the SPREAD is not fixed or constant. Score: 9.7

Stop at Point
The broker guarantees Stop at Point, however, according to experienced traders, not under all market conditions.

Leverage
Between 1:200 to 1:400 (depending of type of account). Score: 8

Interest
Interest is calculated on your open transactions. It should be noted that due to the scope of the broker’s transactions and his capital base, he receives preferential interest rates which he passes onto you.

Financial Agreements
According to the broker, he has agreements with the four major banks of the United States, Canada, the United Kingdom and Hong Kong under the supervision of the CFTC and NFA. Score: 9.5

Tools available to the trader
As already mentioned, the larger your investment portfolio, the more tools the broker places at your disposal.
Professional and technical support – available 24 hours a day.
Professional literature, articles and on line tools – financial data and a financial log.
Trading courses – a number of courses on foreign currency trading are available for you to choose from.
Reviews and surveys – a number of options are available.
Trading Alerts – when you open an account with the broker, you receive free trading alerts covering a variety of trading schemes.
On-Line Help – the broker provides a glossary of terminology associated with trading.
Range of currency pairs – at present the broker provides 30 foreign currency trading pairs.
Languages – the platform supports 10 languages.
On-line trading room – whilst an 0n-line trading room is not supplied, you can contact the broker to receive information via a number of different communication channels.
Coaching – not provided.

Bonuses and other offers
None are offered. However it is important to remember the excellent SPREAD that the broker offers. Additionally, the possibility of receiving a high rate of interest which is attractive especially to dealers utilizing trading methods based on interest generated profits.

Downloading a trading platform
The need to download a trading platform is dependent on which type of account you decide to open. In some cases you will not need to install a trading program on your computer, in others, you will have no choice.

Trading program’s ease of use
The broker offers a number of different trading platforms. All are relatively easy to master and use but some are easier to use than others. One of the better platforms offered by the broker is “METATRADER 4” which is an outstanding, highly professional, easy to learn and use program. Score: 9.8

Trading through this broker gives you flexibility in many areas that make your trading experience easier and the management of your account more efficient.
Exceptionally attractive SPREAD. Even with a small account, you enjoy a SPREAD that is much better than that offered by other brokers.
The same excellent SPREAD is also applied to less attractive foreign currency pairs.

Disadvantages
This broker only deals in foreign currencies. No other investment channels are available.
The process of opening an account is not fast, but still possible within a reasonable space of time.
Deposit methods are limited as are is the range of foreign currency pairs available for trading. Other brokers exist with a large range of currency pairs but, generally, the range offered is more than enough for most dealers.

Overall score for this broker: 9.5