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FBS , FXCM Broker Comparison

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

In the table below, you can compare the features of FBS , 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
FBS
8.75
Regulated
Under guarantee
--
--
5-10 years
ASIC,CYSEC,FSC
--
B
A
461.7
2
48
2
1998
1998
1982
A

EURUSD: 0.2

XAUUSD: 0.6

29
-6
29
B
14.9 USD/Lot
31.83 USD/Lot
C

Long: -5.46

Short: 0.61

Long: -29.9

Short: 6.05

AAA
0.2
60.2
Pro Account,Cent account,Standard account
36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs
$200
1:2000
from 0.5
0.00
--
0.1
--
FXCM
9.46
Regulated
Under guarantee
--
--
Above 20 years
ASIC,FCA,CYSEC,FSCA
--
B
A
470.1
240
240
290
1954
1954
1418
AAA
--
9
-1
9
B
14.88 USD/Lot
31.97 USD/Lot
C

Long: -6.42

Short: 2.04

Long: -45.93

Short: 21.43

AA
0.3
78.8
--
--
--
--
--
--
--
--
--
--
--
--

FBS 、 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 fbs, 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

fbs
FBS Basic Information
Registered Country/Area Cyprus
Founded in 2009
Company Name Tradestone Limited
Regulatory Authority CySEC, FSC (Offshore)
Minimum Deposit $1
Maximum Leverage 1:30 (retail), 1:500 (professional)
Spreads Spreads from 0.0 pips
Trading Platforms MetaTrader 4, MetaTrader 5, FBS Trader (proprietary)
Tradable Assests Forex, CFDs, Stocks, Cryptocurrencies, Metals, Energies
Account Types Cent, Micro, Standard, Zero Spread, ECN, Crypto
Demo Account Yes
Customer Support 24/7 Live Chat, Phone, Email, Telegram, Viber, WhatsApp
Deposit/Withdrawal Methods Credit/debit cards, Bank wire transfer, Electronic wallets
Educational Tools Articles, Video Tutorials, Webinars, Courses, Glossary

Overview of FBS

FBS is a forex and CFD broker established in 2009. With its headquarters situated in Cyprus, the company maintains a global presence through offices in various countries such as China, Indonesia, Malaysia, and Thailand.

Catering to a diverse clientele, FBS offers an array of account types suitable for traders of varying experience levels and preferences. Whether you're a novice or a seasoned trader, FBS provides tailored account options to align with your requirements. The broker boasts an extensive selection of trading instruments encompassing over 40 currency pairs, precious metals, CFDs on stocks, and cryptocurrencies.

FBS equips its clients with the widely acclaimed MetaTrader 4 and MetaTrader 5 trading platforms, recognized as industry benchmarks. These platforms are accessible across desktop, web, and mobile devices, empowering traders to manage their accounts and execute trades on the move. Additionally, FBS introduces its proprietary mobile trading app, FBS Trader, catering to both iOS and Android users.

Ensuring top-notch client assistance, FBS is committed to delivering round-the-clock multilingual support via phone, email, and live chat. Complementing its support system, the broker extends an array of educational resources encompassing trading courses, video tutorials, webinars, and market analysis.

FBS' homepage

Is FBS Scam or Safe Broker?

No, FBS is not a fraudulent entity. FBS is authorized and regulated by the Cyprus Securities and Exchange Commission(CySEC) in Cyprus under regulatory license number: 331/17.

regulated by CSEC

This FBS is operated by FBS Markets Inc., and it is authorized and offshore regulated by the Financial Services Commission (FSC) in Belize under regulatory license number: IFSC/60/230/TS/17.

offshore regulated by FSC

Market Intruments

FBS offers a wide range of trading instruments, including Forex currency pairs, stocks, commodities, indices, and cryptocurrencies. Forex traders can access a total of 40 currency pairs, including major, minor, and exotic pairs.

In addition to currency pairs, traders can also access CFDs on various global stocks such as Amazon, Apple, and Facebook, as well as commodities like gold, silver, and oil. Furthermore, FBS offers CFDs on several popular indices, including the S&P 500, NASDAQ, and the FTSE 100. Finally, traders can also access cryptocurrency CFDs on Bitcoin, Ethereum, Litecoin, and Ripple.

Overall, FBS offers a diverse range of trading instruments for traders to choose from.

Market Intruments

Account Types

FBS offers a range of account types to cater to the different needs and trading styles of its clients.

The Standard account is the most popular choice, offering competitive spreads and no commission fees. It's ideal for both new and experienced traders who want to trade with a relatively low initial deposit and enjoy the benefits of FBS's trading conditions.

For those who prefer to trade with smaller amounts, the Cent account is a good option. It allows traders to trade with cents instead of dollars, so they can better manage their risks and test different trading strategies. The Cent account has the same features as the Standard account, but with smaller contract sizes.

FBS also offers a Pro account, which allows traders to trade with cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple. This account type is suitable for those who want to take advantage of the volatility of the cryptocurrency market and speculate on their price movements.

Each account type has its pros and cons. The Standard account offers more trading instruments and requires a higher minimum deposit, but it has competitive spreads and no commission fees. The Cent account is ideal for those who want to start trading in smaller amounts, but it has wider spreads and fewer trading instruments. The Crypto account has a lower minimum deposit yet wider spreads.

Account Types

Demo Trading

FBS provides demo trading accounts, enabling traders to refine their skills and acquaint themselves with the broker's trading platforms without financial risk. These demo accounts are complimentary and feature virtual funds, allowing users to replicate actual market conditions.

A key benefit of FBS's demo trading accounts lies in their ability to offer insight into the broker's trading conditions and execution speeds. They also facilitate the testing of various trading strategies and techniques. This feature proves particularly advantageous for novice traders who are still mastering the intricacies of trading and desire increased self-assurance prior to committing real capital.

Furthermore, FBS's demo trading accounts offer the advantage of global accessibility, requiring only an internet connection. This convenience is especially beneficial for traders without access to a physical trading station or those who prefer the flexibility of trading on the move.

How to Open an Account?

Registering an account with FBS is a straightforward process that ensures a hassle-free start to your trading journey. Here's a step-by-step overview:

  1. Visit FBS Website: Begin by visiting the FBS website.

  2. Open an Account: Locate and click on the “Open an account” button on the website. This initiates the registration process.

  3. Provide Personal Information: You will be prompted to enter some essential personal details, including your name, address, and email. This information helps establish your identity.

  4. Financial Information: Additionally, FBS will require some financial information. You'll be asked about your trading experience and investment goals. This helps tailor your trading experience to your needs and objectives.

  5. Application Submission: Once you've completed the necessary steps and filled in the required information, submit your application. FBS will receive your application and review it meticulously.

  6. Identity Verification: FBS will verify your identity, a standard procedure to ensure the security of your account. This verification process typically takes a few business days.

  7. Funding Your Account: After your application has been successfully processed and your identity verified, you can proceed to fund your trading account. FBS offers a range of convenient deposit methods, including credit/debit cards, bank transfers, and e-wallets.

In summary, FBS offers a user-friendly and secure registration process that ensures traders can quickly get started with their preferred trading account. Whether you're looking to trade with real funds or practice in a risk-free environment, FBS caters to your needs.

Leverage

The maximum leverage offered to retail clients with FBS is 1:30. This is in compliance with the regulations set forth by regulatory bodies like CySEC and the European Securities and Markets Authority (ESMA) to protect traders from the risks associated with high leverage.

However, professional clients with FBS have access to higher leverage up to 1:500, which can be beneficial for those who have a deeper understanding of the markets and are comfortable with taking on more risks.

It's important to have a solid understanding of leverage and risk management before engaging in high-leverage trading.

Spreads & Commissions (Trading Fees)

FBS offers a wide range of trading opportunities with their motto, “Narrow spreads – wide trading opportunities.” They provide traders with the advantage of incredibly tight spreads, starting from 0 pips.

When it comes to choosing a spread that suits their trading strategy, FBS offers flexibility. Traders can select from various spread types, including floating spreads starting from as low as 0.2 pips, fixed spreads starting from 3 pips, and even the option to trade without any spread (fixed spread of 0 pips). The choice of spread type and its associated value is determined by the specific account type a trader uses.

To enhance precision and accuracy in trading, FBS provides up to 5-digit quotes on all account types. This high level of precision is especially crucial for traders who engage in short-term orders. With this precision, traders can confidently select and execute their trading strategies, ensuring they have the most accurate information about the market to make the most of their trading endeavors.

Here is a table comparing the spreads on EUR/USD, Gold, and Indices by FBS, eToro, Exness, and IC Markets:

Broker EUR/USD Spread Gold Spread Indices Spread
FBS 0.5 pips From 0.3 pips From 0.3 pips
eToro 1 pip From 45 pips From 75 pips
Exness 0.1 pips From 25 cents From 0.8 pips
IC Markets 0.1 pips From 20 cents From 0.5 pips

Non-Trading Fees

Apart from trading fees, there may be other charges that traders should be aware of when using FBS. Here are some non-trading fees to consider:

  • Deposit and Withdrawal Fees: FBS offers various payment methods for deposits and withdrawals, including credit cards, e-wallets, and bank transfers. While most of these methods are free, some may incur fees depending on the payment provider and currency used.

  • Inactivity Fee: FBS charges an inactivity fee of $10 per month if the trading account has been inactive for 180 days or more. This fee is taken from the account balance and continues until the account becomes active again.

  • Conversion Fees: If a trader deposits funds in a currency different from their trading account currency, FBS may charge a conversion fee to convert the funds to the trading account currency. The conversion fee varies depending on the payment method and currency.

  • VPS Hosting Fees: FBS offers VPS hosting services for traders who want to use automated trading strategies. The fee for VPS hosting varies depending on the plan chosen and the billing cycle.

Trading Platform

FBS offers its clients a variety of trading platforms to choose from, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Both platforms are widely used by traders all around the world, and they offer a range of advanced tools and features to help traders analyze the markets and execute trades.

Trading Platform

MT4 is a widely-used trading platform that is known for its reliability and ease of use. It offers a range of advanced charting tools, customizable indicators, and the ability to use expert advisors (EAs) to automate trading strategies. MT4 is available in both desktop and mobile versions, making it accessible to traders on-the-go.

MT5 is an upgraded version of MT4 and offers even more advanced features and tools. It has a more advanced charting package, as well as more timeframes and order types available. MT5 also allows traders to trade on the exchange markets, in addition to Forex.

In addition to these two popular platforms, FBS also offers a proprietary trading platform called FBS Trader, which is designed for mobile trading.

The platform is available for both Android and iOS devices and offers traders access to over 50 markets, including Forex, stocks, and commodities.

Deposit & Withdrawal

FBS offers a variety of deposit and withdrawal methods, including:

As for withdrawals, there are also no fees charged by FBS, but certain payment methods may have their own fees, such as bank wire transfer. The processing time for withdrawals may vary depending on the payment method chosen, but FBS aims to process withdrawals as quickly as possible.

Deposit & Withdrawal
Deposit & Withdrawal

Customer Support

FBS offers customer support through various channels, including email, phone, live chat, and social media. Their website is also available in multiple languages, making it more accessible to traders worldwide. The broker's customer support team is available 24/7, and they have received positive reviews from traders for their quick and helpful responses.

Educational Resouces

FBS offers a range of educational resources for traders of all skill levels. These resources include:

  1. Trading courses: FBS provides free educational courses on various trading topics, including technical analysis, fundamental analysis, and risk management.

  2. Webinars: The broker regularly hosts webinars on different aspects of trading. These webinars are conducted by experts in the field and cover a wide range of topics.

  3. Video tutorials: FBS offers a collection of video tutorials that cover various aspects of trading. These tutorials are designed to help traders learn the basics of trading as well as advanced strategies.

  4. Economic calendar: FBS provides an economic calendar that includes all major economic events that can impact financial markets. This helps traders stay informed about upcoming events and make informed trading decisions.

  5. Trading tools: FBS offers a range of trading tools, including an economic news feed, a currency converter, and a trading calculator. These tools can help traders make better trading decisions.

  6. Market analysis: FBS provides daily market analysis that covers major currency pairs, commodities, and indices. The analysis includes technical and fundamental analysis as well as trading recommendations.

Educational Resouces

Conclusion

FBS is a well-established online forex and CFD broker that offers a wide range of trading instruments, account types, and educational resources. The broker is regulated by reputable authorities and provides excellent customer support services to its clients. FBS also offers various trading platforms, including the popular MetaTrader 4 and 5, as well as a proprietary mobile application, FBS Trader.

While FBS has several advantages, such as a diverse range of trading instruments and low minimum deposit requirements, it also has some drawbacks, such as higher spreads and commissions than some of its competitors, as well as some limitations on the availability of certain account types in specific regions.

FAQs

  • Q: Is FBS a regulated broker?

A: Yes, FBS is a regulated broker. It is licensed by the Cyprus Securities and Exchange Commission (CySEC) and offshore regulated by the Financial Services Commission (FSC) in Belize.

  • Q: What trading instruments are available on FBS?

A: FBS offers a variety of trading instruments, including forex currency pairs, metals, energies, stocks, and cryptocurrencies.

  • Q: What are the account types available on FBS?

A: FBS offers three main account types - Standard, Cent, and Zero Spread. There is also an ECN account type available for professional traders.

  • Q: What is the minimum deposit required to open an account with FBS?

A: The minimum deposit required to open a Standard or Cent account with FBS is $1.

  • Q: What leverage does FBS offer?

  • A: FBS offers flexible leverage options, up to 1:500 for professional traders, 1:30 for retail clients.

  • Q: What trading platforms are available on FBS?

A: FBS offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, as well as a proprietary mobile trading app called FBS Trader.

  • Q: What are the deposit and withdrawal methods available on FBS?

A: FBS offers a variety of deposit and withdrawal methods, including bank wire transfer, credit/debit cards, electronic payment systems such as Skrill, Neteller, and Perfect Money, and local payment methods.

  • Q: Does FBS offer any educational resources for traders?

A: Yes, FBS offers a range of educational resources, including video tutorials, webinars, e-books, market analysis, and a comprehensive FAQ section on their website.

  • Q: What are the customer support options available on FBS?

A: FBS offers customer support via live chat, phone, email, and social media channels. The support team is available 24/7 to assist traders with any questions or issues they may have.

  • Q: Is FBS a good broker for beginners?

A: FBS can be a good option for beginners due to its low minimum deposit requirement, flexible leverage options, and educational resources. However, traders should always do their own research and due diligence before choosing a broker.

fxcm
FXCM Review Summary in 10 Points
Founded 1999
Headquarters London, UK
Regulation FCA, ASIC
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 MT4
Minimum deposit $50
Customer Support 24/5 phone, email, and live chat

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) platform and its own proprietary platform, Trading Station. 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 is FXCM?

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.

Accounts

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.

Trading Platforms

FXCM has fully optimized and upgraded its MT4 platform to execute traders' orders faster and more consistently. The advantages of MT4 are setting stop-loss/stop gain before execution, setting stop loss and stop gain of 0.01 (micro) lot when creating a new trade, trading with more accurate lot sizes, enhancing risk management by partially closing positions, and controlling when traders want to close a position and how much of a position traders want to close.

In addition, FOREX offers a free MT4 Virtual Private Server (VPS) storage service. This VPS has three advantages: EA will continue to operate when the computer is turned off; the server is dedicated to EA trading and will not operate other applications; and traders can log into their platform from any computer even if they do not have MetaTrader4 installed.

MetaTrader4

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

Broker Trafing Platform
FXCM MetaTrader4
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 fbs, 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 fbs and fxcm are, we first considered common fees for standard accounts. On fbs, the average spread for the EUR/USD currency pair is from 0.5 pips, while on fxcm the spread is --.

Which broker between fbs, 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.

fbs is regulated by ASIC,CYSEC,FSC. fxcm is regulated by ASIC,FCA,CYSEC,FSCA.

Which broker between fbs, 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.

fbs provides trading platform including Pro Account,Cent account,Standard account and trading variety including 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs. fxcm provides trading platform including -- and trading variety including --.

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