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Exness , FXCM Broker Comparison

Do you want to know which is the better broker between Exness and FXCM ?

In the table below, you can compare the features of Exness , FXCM side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
Exness
8.38
Regulated
Under guarantee
--
--
10-15 years
CYSEC,FCA,FSCA,FSA
BTC,VISA,Skrill,Neteller,PerfectMoney,SticPay,Tether (USDT OMNI),WebMoney
C
A
460.4
2
2
2
1999
1999
1999
AA

EURUSD: 0.1

XAUUSD: --

29
-6
29
D
9.15 USD/Lot
60.39 USD/Lot
C

Long: -5.78

Short: 2.79

Long: -369.06

Short: 18.19

A
0.5
118.2
Standard,Pro,Zero,Raw Spread,Standard,Standard Cent
Forex, métaux, e-monnaies, énergies, actions, indices
Dépend du système de paiement
1:Illimité
À partir de 0,3
0.00
--
--
--
FXCM
9.45
Regulated
Under guarantee
--
--
Above 20 years
ASIC,FCA,CYSEC,FSCA,ISA
--
B
A
431.4
203
203
272
1902
1902
1038
A

EURUSD: 1.3

XAUUSD: -0.1

20
20
20
B
14.24 USD/Lot
35.47 USD/Lot
C

Long: -5.67

Short: 2.69

Long: -48.91

Short: 22.59

AA
0.4
67.6
--
--
--
--
--
--
--
--
--
--
--
--

Exness 、 FXCM BrokersRelevant information

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of exness, fxcm lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

exness

Let's start here:

Exness is a globally recognized forex broker, operating in over 170 countries, offering a diverse range of tradable assets, including currencies, commodities, and cryptocurrencies. With a daily execution of over 300,000 trades and monthly trading volumes exceeding $1 trillion, Exness is a high-volume broker known for its transparency. Regulated by CySEC , FCA FSCA, and FSA in different jurisdictions, Exness adheres to strict financial standards. In this Exness review, we'll explore the broker's offerings in detail to reveal the real exness.

Quick Exness Review in 10 Key Points
Registered in Cyprus
Regulated by FCA, CYSEC, FSCA, FSA
Founded in 2008
Market instruments Forex CFD, Commodities CFD, Stocks CFDIndices CFD, Crypto CFD
Minimum initial deposit $10
Maximum leverage Unlimited
Minimum spread From 0.0 pips
Trading platform MetaTrader 5, MetaTrader 4, Exness Trade appMetaTrader 5 mobile, MetaTrader 4 mobileExness Terminal, MetaTrader WebTerminal
Demo Accounts Available
Social Trading Yes
Deposit and withdrawal methods Credit/debit cards, skrill, neteller, neteller
Customer Service E-mail/phone number/address/live chat

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Pros and cons of Exness

Pros Cons
  • Wide selection of trading instruments
  • Limited number of deposit and withdrawal methods
  • Easy-to-use and customizable trading platforms
  • No trading bonuses or promotions are offered
  • Detailed table of trading conditions on the instrument screen
  • Exness proprietary platform may not be suitable for all traders
  • Commission-free quick deposits and withdrawals from Exness
  • Telephone support is not available in some countries
  • Educational resources and analysis tools available
  • Not offering cryptocurrencies and currency pairs.
  • Multilingual customer service
  • Social trading feature supported

What type of broker is Exness?

Dimension Pros Cons
Broker Model Exness offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' operations, Exness has a potential conflict of interest that can lead to decisions that are not in the best interest of the clients.

Exness is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, Exness acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of offering leverage. However, this also means that Exness has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interest of their clients. It is important for traders to be aware of this dynamic when trading with Exness or any other MM broker.

What is Exness?

Dimension Pros Cons
Regulation Exness is regulated by reputable bodies such as the FCA, CySEC, FSCA, FSA, which provides some protection and security for customers. Although regulated, Exness has received some penalties and fines in the past, which may be a concern for some customers.

Exness is a leading forex broker founded in 2008 in St. Petersburg, Russia. The company is based in Cyprus and is regulated by the FCA of the UK, CYSEC of Cyprus, FSCA of South Africa and FSA of Seychelles. The multiple regulation demonstrates its commitment to transparency and security of its clients' funds.

In the following article, we will analyze the characteristics of this broker in all its dimensions, offering you easy and well-organized information. If you are interested, read on.

basic-info

Is Exness Legit?

Yes, Exness operates legitimately, regulated by four regulatory authority across four jurisdictions, specifically, ASIC in Australia, FCA in the United Kingdom, FSCA in South Africa, and FSA in Seychelles.

Exness is closely monitored by various government and regulatory bodies in different regions or countries, done to make sure they follow the rules and guidelines that keep financial markets fair and safeguard the interests of clients.

Regulated Country Regulated Authority Regulated Entity License Type License Number
ASIC Exness (UK) Ltd Market Making (MM) 730729a
CYSEC Exness (Cy) Ltd Market Making (MM) 178/12
FSCA EXNESS ZA (PTY) LTD Retail Forex License 51024
FSA Exness (SC) Ltd Retail Forex SD025

Exness's UK entity, Exness (UK) Ltd, is regulated by tier-one regulator FCA under regulatory number 730729a,holding a license for Market Making (MM).

regulation

Exness's second entity in Cyprus, regulated by the tier-2 regulator CYSEC under regulatory number 178/12, holding a license for Market Making as well.

regulation

EXNESS ZA (PTY) LTD in South Africa, regulated by FSCA under regulatory number 51024, holding a license for Retail Forex.

regulation

Exness's fourth entity in Seychelles, Exness (SC) Ltd is regulated by the offshore regulator FSA under regulatory number SD025, holding a license for retail forex.

regulation

Market instruments

Dimension Advantages Disadvantages
Variety of Instruments Exness offers a wide range of instruments, including precious metals, energy, indices and equities. However, its offer of currency pairs and cryptocurrencies is limited compared to other brokers.

Exness offers various CFD trading products, covering Forex, Commodities, Stocks, Indices and Cryptos. Traders can access these instruments through the popular MetaTrader 4 (MT4) trading platform or its successor, the MetaTrader 5 (MT5) platform, both available in desktop, web and mobile versions. The platforms are highly customizable and offer a wide range of technical analysis tools and resources. Currently, cryptocurrencies and currency pairs appear to be unavailable.

Market instruments

Exness Minimum Deposit

To start trading with a very small amount of money, you can opt for a Standard Cent account, which requires a minimum deposit of just $10. With a Standard Cent account, you have access to the smallest lot size, known as the cent lot, allowing you to begin trading on various instruments with a margin of only $10.

The actual minimum amount required to initiate trading, however, will vary based on several factors, including the account type you choose, the payment method you use for deposits, regional regulations, and the prevailing market conditions.

Honestly, Exness's $10 minimum deposit is relatively low when compared to many other brokers in the industry, on the more accessible end of the spectrum, while many brokers set their minimum deposits at $100 or higher.

Here is the table showing the comparison of Exness minimum deposit with other brokers:

Broker Minimum Deposit
label
$100
label
$10
label
$200
label
$100

Exness Account Types

Exness offers standard and professional accounts. The standard account is a commission-free, feature-rich account suitable for all traders, including beginners, offering market execution, stable spreads and no requotes.

account-types

The Pro account is an account that can meet the needs of experienced traders. It features ultra-low spreads, even without spreads. Its execution is suitable for scalpers, day traders and algorithmic traders. The professional account has a minimum deposit of $200.

account-types

Besides, Exness provides two social trading account options for strategy providers: Social Standard and Social Pro. The Social Standard account requires a minimum deposit of $500, offers spreads from 1 pip, no commission, maximum leverage of 1:200, and supports forex, metals, and cryptocurrencies. The Social Pro account, tailored for professional strategy providers, demands a $2000 minimum deposit but offers instant execution, lowest spreads from 0.6 pips, no commission, maximum leverage of 1:200, and covers the same range of instruments.

trading account options

Exness Demo Account

Certainly, Exness offers clients access to demo accounts that last for 30 days. The Exness Demo account is virtually funded at $10, 000 USD. Basically, Exness demo accounts include the following features:

  • Free to registere

  • Easy to fund

  • Access to leverage up to 2000:1

  • Experience real market conditions

demo-account

Here is a simple guide to help you top up your Exness demo account:

  1. Log in to your Exness Personal Area.

  2. Go to the “My Accounts” tab and select the “Demo” section to find your preferred Demo account.

  3. Click “Set Balance” and enter your desired amount, like USD 500, into the provided box. You can even set a lower balance if needed.

  4. If you're using a grid view, click the gear icon on the account box to access the options, and then click “Set Balance.”

  5. Confirm your action by clicking “Set Balance” once more.

funding

These steps will quickly adjust your Demo account balance to your desired amount.

Spreads and commissions for Exness trading

At Exness, spreads and trading commissions vary depending on the type of account and trading instrument. In general, spreads are low and competitive compared to other Forex brokers. In addition, the detailed trading instrument table provided by Exness allows clients to check spreads, commissions and other important details before opening a position in a particular instrument. For some instruments, such as XAGAUDm, on the standard account, Exness offers average spreads of 9.2 pips, no commissions and a maximum leverage of 1:2000. In addition, clients can adjust the stop loss level according to their needs and trading strategies. In short, Exness offers competitive spreads and commissions, allowing clients to trade efficiently and profitably on a wide variety of trading instruments.

Trading Platforms

Exness offers traders a comprehensive suite of trading platforms to accommodate various trading needs. Traders can access MetaTrader 5 and MetaTrader 4 on desktop, or utilize the Exness Trade app, MetaTrader 5 mobile, and MetaTrader 4 mobile for on-the-go trading. Additionally, web-based trading is facilitated through the Exness Terminal, MetaTrader Web, and Web Terminal, enabling traders to access their accounts and trade directly from their web browsers.

Clients can customize the platform according to their needs and preferences, and can also access the automated trading feature through Exness VPS.

Devices Available Available
MetaTrader 4 (Desktop)
label
MetaTrader 5 (Desktop)
label
Exness Trade App (Mobile)
label
MetaTrader 5 mobile (Mobile)
label
MetaTrader 5 mobile (Mobile)
label
Exness Terminal (Web)
label
MetaTrader WebTerminal (Web)
label
cTrader
label

Exness Leverage

Pros Cons
Enables the trader's purchasing power to be increased Increases the risk of significant losses
Facilitates access to markets that otherwise would not be accessible May lead to overexposure to the market
Offers the opportunity to earn higher profits Margin requirements can be difficult to meet
Allows diversification of the trading portfolio Can cause emotional operations and bad decisions
Allows traders to take larger positions Not suitable for novice traders with no previous experience

The maximum leverage offered by Exness is up to 1:unlimited, which is a generous offer, ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also cause loss of funds, especially for inexperienced traders. Therefore, it is essential that traders choose the right amount based on their risk tolerance.

Deposit and Withdrawal

Dimension Pros Cons
Deposits and Withdrawals Exness processes deposits in 30 minutes and withdrawals in 24 hours with no fees, making withdrawals fast and convenient. Deposit and withdrawal methods are limited to bank cards and Perfect Money, which may be a limitation for some customers.

Exness offers a wide variety of deposit and withdrawal options, including bank card and Perfect Money. The minimum deposit is around 10 USD, making it affordable for traders who wish to start with a small amount. Deposits are processed within 30 minutes and withdrawals within 24 hours, ensuring quick availability of funds for traders. It is important to note that although Exness does not charge fees for deposits or withdrawals, credit card providers, banks or payment systems may charge transaction fees or commissions that are beyond their control.

Payment Methods Min. Deposit Min. Withdarwal Fees Processing Time
Perfect Money $10 $2 Free Deposit: within 30 minutesWithdrawal: within 24 hours
Bank Card $10 $0 Free Deposit: up to 30 minutes Withdrawal: 7-10 business days
Cryotocurrencies (USDT, Bitcoin, etc) $10 $10 Free Deposit: up to 1 dayWithdrawal: up to 1 day
E-payments (Skrill, Neteller, etc) $10 $10 Free Deposit: within 30 minutesWithdrawal: within 30 minutes

Here is the video showing how to depsoit with bank card for your refrence:

Education in Exness

Exness offers a range of educational resources that can help traders improve their understanding of the foreign exchange market and their trading skills. These resources include trading analysis tools, which provide detailed information on trading results and help traders identify patterns and trends. In addition, they offer calculators to help traders calculate trading costs and potential profits. Economic calendars and currency converters are also useful tools for traders who need to keep abreast of economic events and currency fluctuations. Overall, Exness educational resources are an excellent way for traders to learn more about the market and improve their trading strategy.

Exness Customer Service

Exness has a high quality customer support service, which is available in several languages and offers different communication channels to meet the needs of its customers. Users can contact the support team via live chat, email and telephone, and some of these services are available 24 hours a day, 7 days a week. The support staff is highly trained and ready to assist users with any problems or queries they may have. In addition, Exness offers a FAQ section on its website, which covers a wide variety of topics and common questions to help users find answers to their questions quickly and easily.

However, the Exness website is only available in Chinese.

Conclusion

In conclusion, Exness is a reliable and well-regulated forex broker, offering a variety of trading instruments and a wide range of trading platforms to meet the needs of its clients. Their focus on transparency and client education is reflected in their educational tools and resources, as well as the detailed information provided on their trading instruments screen. Although its Market Making model may be a disadvantage for some traders, Exness compensates for this with competitive spreads and fast, commission-free deposits and withdrawals. Overall, Exness is a good choice for traders of all experience levels looking for a reliable and transparent Forex broker.

Frequently asked questions about Exness

Q: Is it safe to trade with Exness?

A: Yes, Exness is a broker regulated by the FCA, CYSEC, FSCA and FSA, which guarantees a high level of security and protection for client funds.

Q: What are the spreads in Exness?

A: Spreads at Exness vary according to account type and trading instrument, but are quite competitive compared to other brokers.

Q: Are there any commissions in Exness?

A: Exness does not charge fees, but credit card providers, banks or payment systems may charge transaction fees or commissions.

Q: What deposit and withdrawal methods are available at Exness?

A: Exness offers deposits and withdrawals via bank card and Perfect Money.

Q: Does Exness offer educational resources for traders?

A: Yes, Exness offers a variety of educational resources, including trading analysis tools, calculators, economic calendars, currency converters and more.

Q: What are the pros and cons of trading with Exness?

A: Among the pros of Exness are multiple regulation, variety of account types and trading platforms, competitive spreads and multilingual customer service. Cons include limited deposit and withdrawal methods and lack of advanced technical analysis tools.

fxcm
FXCM Review Summary in 10 Points
Founded 1999
Headquarters London, UK
Regulation FCA, ASIC, CYSEC, FSCA
Market Instruments currency pairs, precious metals, commodities, global stock indices, treasury bonds
Demo Account Available
Leverage 1:30-1:400
EUR/USD Spread 1.3 pips
Trading Platforms Trading Station, TradingView Pro, MetaTrader 4, ZuluTrade, Capitalise AI
Minimum deposit $50
Customer Support 24/5 phone, email, and live chat
Promotions Yes

What is FXCM?

FXCM is a retail forex broker that was founded in 1999. The company is headquartered in London, UK, but has offices and affiliates in a number of other countries, including Australia, Germany, France, Italy, Greece, Hong Kong, Japan, South Africa, and the United States.

The company provides online trading services in forex, contracts for difference (CFDs), and other financial instruments. FXCM offers various trading platforms including the popular MetaTrader 4 (MT4), Trading Station, TradingView Pro, ZuluTrade, Capitalise AI. The broker provides customer support in multiple languages and offers educational resources and market analysis tools to help traders make informed trading decisions.

What Type of Broker FXCM is?

FXCM is a retail forex and CFD broker that operates as a No Dealing Desk (NDD) broker. This means that FXCM does not take the opposite side of clients' trades and instead uses Straight Through Processing (STP) to send client orders to liquidity providers in the interbank market. This model is designed to provide traders with faster execution and more transparent pricing. FXCM also offers commission-based pricing, as opposed to spreads, which may appeal to traders who prefer a more transparent fee structure.

FXCM's website

Pros & Cons

FXCM is a well-established and reputable forex broker with over two decades of experience in the industry. Its strengths include its comprehensive educational resources, a wide range of trading instruments and platforms, and a global presence. FXCM also offers competitive pricing and flexible account options, making it accessible to traders of all levels.

However, FXCM's weaknesses include limited deposit and withdrawal options, high fees for certain services, and the potential for slippage during periods of high volatility. Some traders have also reported issues with customer support, particularly in non-English speaking regions.

Pros Cons
• Regulated by FCA and ASIC • US clients are unaccepted
• Commission-free trading available on Standard accounts • Limited product offerings beyond forex and CFDs
• Multiple trading platforms to choose from, including MetaTrader 4 and Trading Station • Limited educational resources compared to some other brokers
• Competitive spreads on forex pairs • Limited research and analysis tools
• No deposit or withdrawal fees • Limited customer support availability on weekends
• Low minimum deposit requirement • Limited payment options

It's worth noting that the pros and cons listed above are not exhaustive and may not necessarily apply to every trader's individual experience with FXCM.

Overall, FXCM can be a good choice for traders who prioritize education and a diverse range of trading options, but it may not be the best fit for those who require a specific deposit or withdrawal method, or who prioritize low fees above all else.

Is FXCM Safe or Scam?

FXCM is a legitimate broker with a long-standing reputation in the industry. The company is regulated by top-tier financial authorities, such as the FCA in the UK, the ASIC in Australia, CYSEC in Cyprus and FSCA in South Africa, which ensures that it operates under strict financial and ethical guidelines. FXCM also has a solid track record of handling client funds in a secure and responsible manner.

regulation
regulation
regulation
REGULATION

However, like any broker, there are potential risks involved in trading, such as market volatility and the possibility of losses. It's important to carefully evaluate the risks and benefits before deciding to trade with any broker.

How are you protected?

FXCM provides negative balance protection and offers its clients access to segregated accounts, providing additional security measures. More details can be found in the table below:

Protection Measure Detail
Regulation FCA, ASIC
Segregated Funds Yes
Investor Protection Up to £85,000
Negative Balance Yes
Financial Audit Yes
Insurance No

Note: The table only includes a few of the many safety measures that FXCM employs to protect its clients.

Our Conclusion on FXCM Reliability:

FXCM is a well-regulated and reputable broker with a long-standing history in the industry. The company is regulated by top-tier financial authorities and has multiple licenses, demonstrating a commitment to client protection.

However, FXCM has faced regulatory penalties in the past and the company's reputation was negatively impacted. Overall, while FXCM has had some past issues, the broker has taken steps to address them and appears to be a reliable choice for traders.

Market Instruments

FXCM offers investors a diverse range of tradable instruments, including currency pairs, precious metals, commodities, global stock indices, treasury bonds, as well as a forex basket, a stock basket, CNH, and other popular products.

products

Account Types

There are two types of accounts: Regular Accounts and Premier Accounts. Regular accounts have a minimum deposit of $50 and allow investors to trade up to 39 popular currency pairs and the entire CFD range.

The Premier Account is designed for high-volume investors and requires, firstly, an FXCM account or a new account, a total USD notional trading volume of $10 million per natural month. The account offers investors a range of benefits: exclusive support, premium services, and tailor-made trading solutions.

Leverage

FXCM offers different leverage levels based on the jurisdiction of the client and the type of trading account. In general, FXCM offers leverage up to 1:400 for forex trading, and up to 1:200 for CFD trading on certain instruments. It's important to note that high leverage increases the potential for both profits and losses, so traders should use it with caution and have a good risk management strategy in place.

It's also worth noting that different regulatory bodies have different restrictions on leverage. For example, in the United States, the maximum leverage for forex trading is limited to 1:50, while in Europe, it's limited to 1:30 for retail clients. Traders should always check the specific leverage restrictions for their jurisdiction and account type before trading.

Spreads & Commissions

The spreads are 1.3 pips for EUR/USD, 2.3 pips for EUR/GBP, and 1.8 pips for AUD/USD. The Premier account offers investors a cashback offers. If a client trades EUR/USD pair and reaches $300 million in notional volume for the month (for the fifth step), then the cashback amount is $25/million, for a total cashback amount of $7,500. The cashback for equity index CFD products ranges from $1 to $3 per million USD.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread Commission
FXCM 1.3 pips $25/1M traded
IG 0.6 pips No
Oanda 0.9 pips No
Pepperstone 0.0 pips AUD $3.5 / side / 100k traded
XM 0.6 pips No
Plus500 0.6 pips No

Note: Spreads can vary depending on market conditions and volatility.

Promotions

FXCM provides rebates through three channels: Rebate Program, Friends and Family, Accounts Promotions. Account promotions, particularly, gives traders most benefits. To benefit from these promotions, traders simply need to open an account and register for the promotion by filling out the designated form. Upon account activation, making a deposit within 24 hours qualifies traders for the highest bonus of 5%, while those depositing within one month of activation can enjoy a 2-3% bonus. The bonus amount is then credited to the trader's account within 14 business days of the deposit, enabling them to boost their trading capital right from the start.

promotions

Trading Platforms

FXCM offers a comprehensive platform suite designed ffor various trading needs:

Trading Station: Proprietary advanced platform

TradingView Pro: Powerful charting and analysis

MetaTrader 4: Industry-standard user-friendly platform

ZuluTrade: Social trading, copy successful strategies

Capitalise AI: AI-powered automated trading and portfolio management

Trading Platforms

Overall, FXCM's trading platforms offer a range of advanced features and tools that can appeal to traders of all levels and styles.

Broker Trading Platform
FXCM Trading Station, TradingView Pro, MetaTrader 4, ZuluTrade, Capitalise AI
IG IG Trading, MetaTrader4
Oanda Oanda Trade, MetaTrader4, Oanda Web Trading
Pepperstone MetaTrader4, MetaTrader5, cTrader, Pepperstone Webtrader
XM MetaTrader4, MetaTrader5
Plus500 Plus500 WebTrader, Plus500 Windows Trader

Deposits & Withdrawals

FXCM welcomes several payment methods, including online banking payments, bank transfers, and other payments. The minimum single deposit for CUP is $100, and the minimum deposit for a credit card or wire transfer is $50. Besides, traders can withdraw funds once a month for free.

Minimum deposit requirement

The minimum deposit requirement for FXCM varies depending on the account type and the region of the client. For example, in the UK and some other regions, the minimum deposit for a Standard account is £300 or equivalent in another currency, while for the Mini account, it is £50 or equivalent.

However, in some other regions, such as the US, the minimum deposit for a Standard account is $5,000, while for the Mini account, it is $50. It is important to check the minimum deposit requirement for the specific account type and region before opening an account with FXCM.

FXCM minimum deposit vs other brokers

FXCM Most other
Minimum Deposit $50 $100

FXCM Money Withdrawal

To withdraw funds from your FXCM account, you need to follow these steps:

Step 1: Log in to your FXCM account on the FXCM website.

Step 2: Click on the “MyFXCM” menu and select “Withdraw.”

Step 3: Select the account you wish to withdraw from and choose your withdrawal method.

Step 4: Enter the amount you wish to withdraw and provide any additional information that may be required for your chosen withdrawal method.

Step 5: Review and confirm your withdrawal request.

Step 6: Once your withdrawal request has been processed, you will receive an email confirmation with details of the transaction.

It's important to note that the time it takes for your funds to be withdrawn will depend on the withdrawal method you choose and the processing times of your bank or payment provider.

Fees

Apart from spreads and commissions, FXCM also charges overnight fees. Overnight fees, also known as swap fees, are charged for positions that are held overnight.

FXCM does not charge any deposit fees, but there are withdrawal fees depending on the withdrawal method used. For example, bank wire withdrawals are subject to a $40 fee, while credit card withdrawals are subject to a 1.8% fee.

Inactivity fees may also be charged if an account is inactive for a certain period. For example, FXCM charges an inactivity fee of $50 per year if there are no trades or open positions for 12 months.

It is important to review the fee schedule on FXCM's website before opening an account to ensure a full understanding of the fees associated with trading.

See the fee comparison table below:

Broker Deposit Fee Withdrawal Fee Inactivity Fee
FXCM Free for most methods Free for most methods $50/year
IG Free Free $18/month
Oanda Free Free $10/month
Pepperstone Free Free for Australian bank transfer, $20 for international wire transfer $0
XM Free Free $5/month after 90 days of inactivity
Plus500 Free $10 $10/quarter

Please note that these fees may be subject to change and may vary depending on your location and account type. It's always a good idea to check with the broker directly for the most up-to-date information.

Customer Service

FXCM offers customer support via phone, email, and live chat 24/5 during market hours. They also have a FAQ section on their website to provide answers to common questions. FXCM provides localized support in various languages and countries, and they have a team dedicated to handling account-related inquiries.

In addition, they offer remote assistance through TeamViewer to assist clients with any technical issues they may encounter. Overall, FXCM is known for their responsive and helpful customer support.

Pros Cons
• 24/5 customer support through phone and chat • No 24/7 customer support
• Multilingual support • No local office in some countries
• Comprehensive FAQ section on the website • No dedicated account manager
• Personalized support for VIP clients • Some clients report slow response times for inquiries

Note: The above information is based on general feedback from clients and may not be applicable to every individual experience.

Education

FXCM offers a range of educational resources to help traders improve their knowledge and skills. Some of the educational resources available on the FXCM website include:

  • Webinars: Live and recorded webinars covering a variety of trading topics, including market analysis, technical analysis, and trading strategies.

  • Video library: A collection of videos covering various trading topics, including trading psychology, chart patterns, and trading platforms.

  • Trading guides: In-depth guides on various trading topics, including Forex trading, stock trading, and trading psychology.

  • Forex news: Daily updates on market news and analysis from FXCM's team of experts.

  • Trading signals: Trading signals based on technical analysis and market trends.

Conclusion

In conclusion, FXCM is a well-established and reputable broker that offers a range of trading instruments and account types with competitive spreads and commissions. The broker's trading platforms are user-friendly and offer advanced features for traders of all levels. Additionally, FXCM provides educational resources and excellent customer support, including 24/5 support in multiple languages.

However, FXCM does have some drawbacks, including the lack of negative balance protection and the high inactivity fee. The broker is also not available in all countries, which may limit accessibility for some traders. Overall, FXCM is a reliable and trustworthy broker that can meet the needs of both beginner and experienced traders.

Frequently Asked Questions (FAQs)

Q 1: Is FXCM regulated?
A 1: Yes. It is regulated by FCA and ASIC.
Q 2: Does FXCM offer demo accounts?
A 2: Yes.
Q 3: Does FXCM offer industry-standard MT4 & MT5?
A 3: Yes. It offers MT4 and Trading Station.
Q 4: What is the minimum deposit for FXCM?
A 4: The minimum initial deposit to open an account is $50.
Q 5: Is FXCM a good broker for beginners?
A 5: Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

Are the transaction costs and expenses of exness, fxcm lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive exness and fxcm are, we first considered common fees for standard accounts. On exness, the average spread for the EUR/USD currency pair is À partir de 0,3 pips, while on fxcm the spread is --.

Which broker between exness, fxcm is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

exness is regulated by CYSEC,FCA,FSCA,FSA. fxcm is regulated by ASIC,FCA,CYSEC,FSCA,ISA.

Which broker between exness, fxcm provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

exness provides trading platform including Standard,Pro,Zero,Raw Spread,Standard,Standard Cent and trading variety including Forex, métaux, e-monnaies, énergies, actions, indices. fxcm provides trading platform including -- and trading variety including --.

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