Review of FXCM
This brokerage firm is under NFA regulations and is US-based. Many of the advantages of using this broker is that you have no dealing desk, tight spreads, options to be more profitable including scalping and so on as well as price improvements. All trading styles are accepted by this particular broker. The maximum leverage for any account would be 50:1. Standard, micro and Active Trader accounts are available as well as a demo accounts that can be opened. The micro account can be opened with a minimum deposit of $50 while the Standard will require at least a $2,000 deposit. The Active Trader will require a $50,000 deposit while the demo account will give you at least $50,000 of practice money to work with.
Available platform choices will include Active Trader, Mac or web trading platforms, MT4, Trading Station II, Mobile trading and an automated trading platform for use with the Forex market. Resources will include live events, economic calendars, news, charting, trading signals and programming services. Education is also included here with their course “New to Forex Trading”, Forex vs. Stocks, video libraries, Forex Trading Course and trading guides are all included. A trader will have at least 36 different currency pairs available for trade on this brokerage firm.
Automated strategies also are available with FXCM. To fund an account you can use bank wires, paper checks, credit cards or ACH. Contacting customer service is not hard at all. You have available several different options for contacting customer service. Live Chat, phone or email can be used along with a toll free or free phone number for at least 10 different countries. You may also reach the Trading Desk by phone. Hours of operation for the Trading Desk are Sunday 5:15 PM to Friday 4:00 PM. News and information are always available 24 hours a day and can be accessed by the home page of FXCM. This is a helpful way to get the latest information about the Forex market as it happens. You do have a multitude of choices available with this particular broker. For those United States residents that want to trade in Forex, this broker might well be all you need.
Take the time to look FXCM over and see if this brokerage firm will be what you are looking for. They have a lot to offer traders with any experience level, including beginners. So there is much to like about this particular brokerage firm.