Web: www.fxcm.com
FXCM is one of the most trusted, awarded and heavily regulated forex brokers.
FXCM was the first broker to be listed on the NY Stock exchange thus becoming one of the most transparent and honest industry players.The best part about FXCM is that it offers a choice between Dealing Desk and No Dealing Desk execution type accounts.
So traders can choose between having more stable executions and no interventions of the No Dealing Desk (NDD) or lower spreads of the Dealing Desk (DD) model.
The NDD account allows traders to perform high frequency (scalping) trading and news trading as there are no delays and interventions and the positions are processed instantly and automatically.
Unlike many other brokers who have just a single liquidity provider FXCM has an advanced system of providing the best spreads by comparing and choosing the best offers from multiple (>10) sources like global banks, financial institutions and other market makers.
This allows to benefit from very competitive spreads. FXCM does not make profits from their clients losses, they get compensated with a 1 pip markup on the spread.
FXCM offers one of the best variety of available trading platforms suited for all needs and situations.
The desktop version of trading platform is not only friendly for beginners but has some serious professional analytic and charting tools under the hood offering built-in strategies, customisable interface and automated signals.
Detailed rating
Awards
2013 FX STREET – BEST SELL-SIDE ANALYSIS CONTRIBUTOR: DAILYFX
2012 FOREX MAGNATES – BEST PROPRIETARY FX PLATFORM
2012 INVESTMENT TRENDS – LARGEST FOREX PROVIDER
2011 FXSTREET – BEST FX AWARDS – BEST BROKER RESEARCH TEAM: DAILYFX
2010 FX TRADERS’ CHOICE AWARDS – EAGLE AWARD: BEST FX BROKER
2010 WHAT INVESTMENT MAGAZINE – READERSHIP AWARDS – BEST FX PROVIDER 2010
Key figures
Founded: 1999
Headquarters: New York (USA)
Regulated by: NFA & CFTC (USA), FSA (UK) SFC (Japan), ASIC (Australia), CONSOB (Italy), DGCX (Dubai), BaFIN (Germany), ACP (France), AMF (France)
Minimum Deposit: $50
EUR/USD spread: 0.9 pips (Active trader), 1.6 pips (DD), 2.7 pips (NDD)
Maximum Leverage: 1:200
Money Withdrawal: 3-7 working days
Commissions: No* (Earning from the spread)
Payment options: Credit,Debit Card, Paper Check, ACH, Bank Wire
Withdrawal options: Credit,Debit Card, Paper Check, Bank Wire
Contacts: Toll free: +1 888 50 FOREX (36739), +1 212 897 7660, [email protected]
* Fees may apply for holding positions overnight and over-weekend
Pros
Choice between No Dealing Desk and Dealing Desk Account types
Robust and customisable desktop platform with professional charting tools
No re-quotes, no interventions and no delays of execution (NDD)
No trading conflicts between the trader and broker (NDD)
Anonymous order placement – stops, limits and entry’s are kept hidden. (NDD)
Scalping allowed. (NDD)
Possibility to trade the news without any delays. (NDD)
Strategy backtesting feature
Rich variety of platforms: from web, mobile to desktop and MT4
Exceptional Transparency
Accessible everywhere (web, ipad, iphone, android, etc.)
Cons
No stock trading available.
The free DailyFx trading signals should not be taken as a holy grail, but just as viewpoints on the news impacting the market.
Screenshots
