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FXCM Review 2023

Written by: Réka Hidas. Updated:Dec 2022
Expert verified
Recommended for
  • Investors and traders globally
Trusted broker
Regulated by top-tier financial authorities
566 people chose this broker in the last 6 months
BrokerChooser Score

FXCM review summary

FXCM is a UK-based broker offering forex and CFD trading. FXCM’s account opening process is straightforward, easy and fast. It has great technical research tools, including many technical indicators. The available educational content is high-quality. On the negative side, FXCM provides only CFDs (forex, indices, commodities, cryptos and shares), thus popular asset classes like real stocks or ETFs are missing. There is also a high fee for bank withdrawals. Lastly, the trading platforms don’t offer safer two-step authentication. BrokerChooser gave FXCM a 4.4/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Is FXCM a legit broker?

See how FXCM is regulated and whether you should have any concerns using it.

FXCM is available in Pakistan

71% of retail CFD accounts lose money

FXCM pros and cons



FXCM main highlights

🗺️ Country of regulation

UK, Australia, South Africa and Cyprus

💰 Trading fees class


💰 Inactivity fee charged


💰 Withdrawal fee amount


💰 Minimum deposit


🕖 Time to open an account

1-3 days

💳 Deposit with bank card


👛 Depositing with electronic wallet


💱 Number of base currencies supported


🎮 Demo account provided


🛍️ Products offered

CFDs (forex, indices, commodities, cryptos and shares)


FXCM has average forex and non-trading fees. There are no account, deposit, or credit/debit card withdrawal fees. However, you have to pay a $50 fee after one year of inactivity and bank withdrawal can be costly.

Account opening

The account opening process at FXCM is hassle-free, but the minimum deposit is $50 in Europe and in non-EU countries as well. Also, the account opening time is longer than usual.

Deposit and withdrawal

There are multiple options both for deposits and withdrawals, but bank withdrawals have high fees and only a few account currencies are available.

Web trading platform

FXCM’s web trading platform is extremely customizable, provides a wide range of order types and has a great search function. On the other hand, it lacks two-step authentication.

Mobile trading platform

FXCM has a good mobile trading platform. It is user-friendly, offers many order types and has a good search function. On the negative side, there is neighter two-step, nor touch/face ID login.

Desktop trading platform

FXCM’s desktop platform has great customizability and a good variety of order types. However, you cannot set price alerts.

Markets and products

FXCM provides only CFDs (on shares, stock indices, forex, commodities and cryptos). Popular asset classes, like real stocks and bonds, are not available for trading.


FXCM provides great research tools for technical analysis, e.g. good charting and market screener. On the negative side, fundamental data on assets is not available.

Customer service

FXCM’s customer support is great. You can reach them in many ways and you will get fast and relevant answers.


FXCM offers a great range of educational tools, such as educational videos and webinars. Demo accounts are also available, but only for a limited set of countries.


FXCM is regulated by top-tier authorities, like the UK’s FCA. Its parent majority economic owner company is listed on the New York stock exchange and has a banking background.