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.

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.

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.

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.

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

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.

GMI Review Summary in 10 Points
Founded in	2009
Headquarters	UK
Regulation	FCA
Market Instruments	forex, indices, gold, oil, silver
Demo Account	Available
Social Trading	Yes
Leverage	1:2000
EUR/USD Spread	0.0 pips
Trading Platforms	MT4
Minimum deposit	$15
Customer Support	24/5 email and live chat

What is GMI？

GMI (Global Market Index) is a forex and CFD broker that offers trading services to retail and institutional clients. It was established in 2009 and is headquartered in the United Kingdom with offices in Cyprus and the UAE. The broker is regulated by the Financial Conduct Authority (FCA) in the UK. GMI offers a range of trading instruments, including forex, commodities, indices, and cryptocurrencies. It also provides the popular MetaTrader4 (MT4) platform.

What Type of Broker is GMI？

GMI (Global Market Index) is a forex and CFD (contract for difference) broker, operating as a No Dealing Desk (NDD) broker with Straight Through Processing (STP) and Electronic Communication Network (ECN) execution models.

Pros & Cons

GMI appears to have a number of strengths, including its low minimum deposit requirement, tight spreads, various account types, social trading solution, and competitive leverage. However, a limited range of trading instruments, educational resources, research and analysis tools may concern some traders.

Pros	Cons
• Regulated by FCA	• Limited range of trading instruments
• Wide range of account types	• Inactivity fee after 90 days of inactivity
• Commission-free trading	• Limited educational resources
• Negative balance protection	• Limited research and analysis tools
• Social trading feature supported

Note: The pros and cons listed above are not exhaustive and may vary based on individual preferences and circumstances.

Overall, potential clients of GMI should conduct their own research and carefully consider the advantages and disadvantages before deciding to trade with this broker.

Is GMI Safe？

GMI is a regulated forex broker, licensed by Financial Conduct Authority (FCA), which provides some level of safety and security for traders. However, it is important to note that regulation does not guarantee the complete safety of funds and trading with any broker carries a level of risk. It is important for traders to do their own research and due diligence before deciding to trade with any broker.

How are you protected？

In the table below, these measures show that GMI takes the safety and security of its clients seriously and works to provide a secure trading environment.

Protection Measures	Description
Regulation	FCA
Client Fund Segregation	GMI holds client funds in separate accounts from its operational funds to ensure that they are protected in case of bankruptcy or insolvency
Negative Balance Protection	Clients can not lose more than their account balance
Security Protocols	Protect clients' personal and financial information, including SSL encryption, two-factor authentication, and firewalls
Investor Compensation Fund	Provides up to £85,000 of compensation to eligible clients in case of GMI's insolvency

Our Conclusion on GMI Reliability:

Based on the information available, GMI is regulated by the Financial Conduct Authority (FCA) in the UK, which oversees the company's compliance with financial regulations and standards. The company also claims to implement safety measures, such as negative balance protection and the use of segregated client accounts, to ensure the safety of its clients' funds.

As with any financial services provider, there is always a level of risk involved, and it is essential to do your due diligence and conduct thorough research before choosing a broker.

Market Instruments

GMI offers a variety of trading instruments across different asset classes, including:

• Forex: GMI offers a wide range of forex currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs.

• Indices: GMI offers trading on major stock market indices such as the S&P 500, NASDAQ, and FTSE 100, as well as a range of other international indices.

• Gold: GMI offers spot trading in gold, which allows traders to speculate on the price of the precious metal without taking physical delivery.

• Oil: GMI offers spot trading in oil, including Brent Crude and US Crude.

• Silver: GMI offers spot trading in silver, which is another popular precious metal among traders.

However, other popular asset classes such as stocks and cryptocurrencies seem to be not available. Overall, GMI provides traders with many trading instruments to choose from, enabling them to diversify their portfolios and potentially capitalize on different market conditions.

Account Types

GMI offers four types of live trading accounts: Cent, Standard, Standard Bonus, and ECN accounts.

• Cent Account: This account is ideal for beginner traders who want to start with a small investment. The minimum deposit requirement for this account is just $15.

• Standard Account: This account is suitable for more experienced traders. The minimum deposit requirement for this account is $25.

• Standard Bonus Account: This account is similar to the standard account but comes with an additional bonus on deposits. The minimum deposit requirement for this account is also $25.

• ECN Account: This account is designed for professional traders who want to trade with the lowest spreads possible. It offers raw spreads starting from 0 pips. The minimum deposit requirement for this account is $100.

Risk-free demo accounts and swap-free Islamic accounts are also available at GMI.

Leverage

According to the GMI website, the maximum leverage offered is up to 1:2000. It's important to note that using high leverage comes with higher risks, and traders should always understand the potential risks and manage their trades accordingly.

Spreads & Commissions

GMI offers spreads from 0.0 pips. It's important to note that spreads may vary depending on market conditions and liquidity. Traders may also be subject to additional fees such as swaps and overnight financing charges.

Regarding the commission, it varies depending on the type of account. There is no commission charged on the Cent, Standard, Standard Bonus accounts, while the commission for the ECN account is $4 per lot.

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

Broker	EUR/USD Spread	Commission
GMI	0.0 pips	No ($4 per lot for the ECN account)
XM	0.6 pips	No
FXTM	0.1 pips	No
HotForex	1.2 pips	No
Pepperstone	0.1 pips	AUD $7 per lot (round turn)
IG	0.6 pips	No

Note: Spreads can vary depending on market conditions and volatility. It's always a good idea to check with the broker directly for the latest information on their spreads and commissions.

Trading Platforms

GMI offers its clients the popular MetaTrader 4 trading platform, which is available for Windows, Mac, iOS, Android and Web. The platform includes a variety of tools and features for technical analysis, order management, and customization. It also supports automated trading with the use of Expert Advisors (EAs).

See the trading platform comparison table below:

Broker	Trading Platforms
GMI	MetaTrader4
XM	MetaTrader4, MetaTrader5, XM WebTrader
FXTM	MetaTrader4, MetaTrader5, FXTM Trader
HotForex	MetaTrader4, MetaTrader5, HotForex WebTrader
Pepperstone	MetaTrader4, MetaTrader5, cTrader
IG	MetaTrader4

Note: The information in this table is subject to change and may not be exhaustive. It is recommended to visit each broker's website for the latest information on their trading platforms.

Social Trading

GMI offers social trading features that allow traders to copy the strategies of successful traders. This enables traders to learn from experienced individuals and potentially benefit from their proven track records. GMI's social trading platform promotes knowledge sharing and community-driven trading in a simple and accessible manner.

Deposits & Withdrawals

Users from different countries can fund with different methods. Just take an example of Malaysian users, they can fund their accounts via Local Bank Transfer, Neteller and Skrill.

The minimum deposit is $15 for Local Bank Transfer, and $10 for Neteller and Skrill. The minimum withdrawal is 50 MYR for Local Bank Transfer, and $10 for Neteller and Skrill.

No deposit fees are charged while withdrawal fees vary on the payment method. For example, there is no withdrawal fee for Local Bank Transfer, while a 4% withdrawal fee for Neteller and Skrill.

As for the processing time, all deposits and most withdrawals are instant, while Local Bank Transfer withdrawals may be slower, usually can be processed between 8am to 6pm daily.

GMI Minimum Deposit vs other Brokers

	GMI	Most other
Minimum Deposit	$15	$/€/£100

GMI Money Withdrawal

The process for withdrawing funds from GMI may vary depending on the method used for the deposit. However, in general, you can follow these steps:

Step 1: Log in to your GMI account.

Step 2: Click on the “Withdrawal” option in the menu.

Step 3: Select the preferred withdrawal method from the available options.

Step 4: Fill out the withdrawal form with the required details.

Step 5: Submit the withdrawal request.

GMI may require additional verification documents before processing the withdrawal request. The time it takes for the withdrawal to be processed and the funds to be received may also depend on the chosen withdrawal method.

Fees

GMI charges various fees to its clients, including:

• Overnight Financing: GMI also charges an overnight financing fee on positions held overnight. This fee varies based on the instrument traded, the account type, and the prevailing interest rates in the market.

• Inactivity Fee: GMI charges an inactivity fee of $50 per quarter for accounts that have been inactive for more than 90 days.

• Other Fees: GMI may charge other fees related to account maintenance, data feeds, and other services. These fees are disclosed in the account agreement and may vary depending on the client's location and account type.

It's always recommended to review the complete fee schedule and terms and conditions on the broker's website or by contacting their customer support team.

See the fee comparison table below:

Broker	Deposit Fee	Withdrawal Fee	Inactivity Fee
GMI	Free	Free	$50/quarter if no activity for 90 days
XM	Free	Free	$15/month after one year of inactivity
FXTM	Free	Free (except bank wire)	$5/month after six months of inactivity
HotForex	Free	Free (except bank wire)	$5/month after six months of inactivity
Pepperstone	Free (except credit card)	Free (except bank wire)	$0 after 12 months of inactivity
IG	Free (except bank transfer)	Free	$18/month after two years of inactivity

Please note that fees may vary based on account type, payment method, and other factors. It's important to check with each broker directly for the most up-to-date and accurate fee information.

Customer Service

GMI provides customer support to its clients through various channels, including email and live chat. Customer service is available 24/5, which means that traders can get in touch with the company's representatives during business days. GMI's customer support team is multilingual, which is helpful for clients who speak languages other than English.

You can also fill in the online contact form to get in touch with GMI. However, the availability and quality of customer support may vary depending on the specific region and the volume of inquiries.

Pros	Cons
• 24/5 customer support via phone, email, chat	• No 24/7 customer support
• Personal account managers	• No physical offices in some regions
• Multilingual support	• No social media support
• Quick response time

Note: Pros and cons may vary based on individual experiences and opinions.

Conclusion

Based on the analysis of GMI, it is a regulated and reputable broker that offers the low minimum deposit requirement, competitive spreads and commissions, and a choice of different account types, as well as good customer support.

One potential downside of GMI is its limited range of trading instruments and educational resources. Additionally, it offers only one trading platform-MetaTrader4. MetaTrader5 is not available.

Overall, GMI is a solid option for traders who prioritize MT4, demo trading and competitive pricing.

Frequently Asked Questions (FAQs)

Q 1:	Is GMI regulated？
A 1:	Yes. GMI is regulated by Financial Conduct Authority - FCA.

Q 2:	Does GMI offer demo accounts？
A 2:	Yes. GMI offers demo accounts with $10,000 virtual capital.

Q 3:	Does GMI offer industry-standard MT4 & MT5？
A 3:	Yes. GMI supports MT4.

Q 4:	What is the minimum deposit for GMI？
A 4:	The minimum initial deposit at GMI to open a Cent account is just $15.

Q 5:	Is GMI a good broker for beginners？
A 5:	Yes. GMI is a good choice for beginners because it offers a wide variety of trading assets 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.