Regulated

Score

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/10

FXCM

United Kingdom

|

5-10 years

Investment Advisory License|

Common Financial Service License|

Suspicious Overrun|

Medium potential risk

https://www.fxcm.com/uk/

Website

Rating Index
Influence

Influence

A

Influence Index NO.1

United Kingdom 7.78

Better than 99.61% exchange(s)

Biz Area

Search Statistics

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Social Media Index

Influence
A

Licenses

FCA

FCARegulated

Investment Advisory License

ASIC

ASICExceeded

Common Financial Service License

Exchange Info

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Company Name
FXCM
Phone of the company
+44 08081891034
+44 (0)207398 4050
Customer Service Email Address
info@fxcm.co.uk

WikiBit Risk Alerts

1
Previous Detection 2024-07-24

Common Financial Service License goes beyond their business with the licenses Australia ASIC (license number: 121934432), please be aware of the risk!

Website

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Time Machine

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User Reviews

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7 ratings

Participate in evaluation
snazii
FXCM provides access to a wide range of financial instruments, allowing users to trade forex pairs, commodities like gold and oil, indices from global markets, and cryptocurrencies.
2023-11-27 04:02
2
Grachi3727
FXCM’s pricing for forex trading is slightly higher than the industry average.
2023-12-21 08:47
5
Kelvin49289
Really enjoy trading 福汇 tokens, innovative technology yet user-friendly interface! Plus, the transaction fees are impressively low. Absolutely recommended!
2023-09-14 14:20
2
ike 917
wow
2022-11-04 05:38
0
JHAY02
interesting
2022-10-20 23:45
0
Rizkialbab
Awesome project good luck 🚀🚀🚀
2022-10-29 00:14
0
Audz
nice!
2022-10-26 03:58
0
Aspect Information
Company Name FXCM
Registered Country/Area United Kingdom
Founded Year 1999
Regulatory Authority FCA (Regulated), ASIC (Exceeded)
Cryptocurrencies Offered Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc.
Trading Platforms MetaTrader 4, Trading Station, Capitalise AI
Deposit & Withdrawal credit/debit card, EFT/Bank Wire, PayPal, Google Pay, Apple Pay, Open Banking, Skrill, Neteller, Rapid Transfer
Fees Zero commission
Educational Resources Online live classrooms, trading guides, tutorials
Customer Support Email: info@fxcm.co.uk; Phone:44 (0)207398 4050; SMS message, WhatsApp: +44 7537 432259; Live Chat; Address (https://www.fxcm.com/uk/about-fxcm/international-sites-offices/); Social media: Facebook, Twitter, YouTube

Overview of FXCM

FXCM, also known as Forex Capital Markets, is a leading virtual currency exchange that was founded in 1999. The company is registered in the United Kingdom and has two licenses. FXCM offers a range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

FXCM provides traders with multiple trading platforms, including MetaTrader 4, Trading Station, and Capitalise AI. These platforms offer a seamless trading experience and a variety of tools and features to enhance trading strategies.

In terms of deposit and withdrawal options, FXCM supports various methods, including credit/debit card, EFT/Bank Wire, PayPal, Google Pay, Apple Pay, Open Banking, Skrill, Neteller and Rapid Transfer.

To support traders in their journey, FXCM offers a wide range of educational resources. These include tutorials, online live classrooms, and trading guides, which are designed to help traders improve their skills and understanding of the market.

Lastly, FXCM provides customer support through various channels, including email (info@fxcm.co.uk, admin@fxcm.co.uk) , phone (442073984050, 08001456477) , social media, address and live chat. This ensures that traders can reach out for assistance or resolve any issues they encounter during their trading experience.

Overview of FXCM

Pros and Cons

Pros Cons
FCA regulated ASIC exceeded
Diverse market instruments
Multiple trading platforms
Educational resources available

Pros:

- FCA regulation ensures FXCM adheres to strict standards, safeguarding client funds and ensuring transparency. Traders can benefit from a trusted platform and backed by regulatory oversight, enhancing credibility and trustworthiness.

- FXCM offers a wide range of trading options, including forex, shares, commodities, and indices. This diversity allows traders to explore different markets and diversify their portfolios.

- FXCM provides multiple trading platforms, including MetaTrader 4, Trading Station, and Capitalise AI, which offer a variety of tools and features to enhance trading strategies.

- FXCM offers a range of educational resources, including Online live classrooms, trading guides, tutorials, to support traders in improving their skills and understanding of the market.

Cons:

- FXCM has faced regulatory issues such as exceeding ASIC requirements set by regulatory authorities. which raises concerns among traders regarding its compliance to industry standards.

Regulatory Authority

FXCM is regulated by multiple regulatory agencies, ensuring compliance with stringent standards and regulations in the virtual currency exchange industry. The Financial Conduct Authority (FCA) in the United Kingdom serves as one of its regulatory authorities. FXCM is registered with the FCA under the regulation number 217689 and holds an investment advisory license granted by Forex Capital Markets Limited.

Regulatory Authority

Additionally, FXCM is also regulated by the Australia Securities & Investment Commission (ASIC) in Australia. The exchange holds a common financial service license and is registered with ASIC under the regulation number 309763. However, it's important to note that ASIC has determined that FXCM exceeded the statutory Financial Resource requirements under its license, which impacts its regulatory status.

Exceeded ASIC license

Overall, FXCM is subject to regulatory oversight from both the FCA and ASIC, ensuring that the exchange operates in accordance with regulatory guidelines and safeguards the interests of traders.

Security

FXCM prioritizes security by adhering to the FCA's Client Assets Sourcebook regulations, ensuring clear segregation between client funds and company assets. Client Money is held in segregated bank accounts, providing added protection. FXCM meticulously selects and regularly reviews credit institutions where Client Money is held, thus to maintain the integrity and safety of client funds.

Trading Market

FXCM offers a range of cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). These cryptocurrencies are subject to price fluctuations, which can vary across different exchanges and market conditions. It is important for traders to monitor the cryptocurrency market and stay informed about the latest price movements before making trading decisions.

In addition to cryptocurrencies, FXCM offers a diverse range of market instruments, catering to various trading preferences. Traders can access the forex market, allowing them to trade currency pairs from around the world. Furthermore, FXCM provides opportunities to trade shares, commodities, and indices, enabling investors to diversify their portfolios and capitalize on different asset classes.

Trading Market

How to Open an Account?

The registration process for FXCM is as follows:

  • Visit the FXCM website and click on the “Open Account” button.

  • click on the Open Account button

    2. Fill in the required personal information, including your name, email address, and country of residence.

    fill in required info

    3. Choose the type of account you wish to open, such as a retail or professional account, and provide any necessary documentation to verify your identity.

    4. Review and agree to the terms and conditions of FXCM.

    5. Fund your account by selecting a deposit method and following the instructions provided.

    6. Once your account is funded and verified, you can start trading on the FXCM platform.

    Deposit & Withdrawal

    FXCM supports various deposit and withdrawal methods for traders to fund their accounts and withdraw their profits. Deposit methods include credit/debit card, EFT/Bank Wire, PayPal, Google Pay, Apple Pay, Open Banking, Skrill, Neteller and Rapid Transfer. Visit www.myfxcm.com for details on your trading account, request change to account settings as well as deposit funds.These options provide flexibility and convenience for traders to choose the method that best suits their needs.

    Credit and debit card deposits are often available immediately. However, FXCM does not exhibit control over the entire funding process and may rely on third parties to facilitate verification and transfer of funds depending on the deposit origin. Therefore, delays of up to one business day can occur.

    Third Party Payments: FXCM does not accept Third Party payments. Deposits received from an account in a different name and/or held by someone other than the trading account holder constitutes a third party deposit. This also applies to corporate funds received for an individual account and similar scenarios.

    Mobile Trademarks: iPhone, iTunes and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android and Google Play are trademarks of Google LLC.

    Deposit & Withdrawal

    The processing time for deposits and withdrawals vary depending on the chosen method. Deposits made via credit/debit card are usually processed instantly, allowing traders to start trading promptly. Bank transfers take longer, typically ranging from 1 to 5 business days. When it comes to withdrawals, processing times can also vary. FXCM processes withdrawal requests promptly, but it is advised to consider additional time for funds to reflect in the trader's designated account due to potential delays caused by intermediary processors or the respective financial institutions.

    Traders should refer to the FXCM website or contact customer support for more detailed information on the specific processing times associated with their chosen deposit and withdrawal methods.

    Educational Resources

    FXCM provides an array of educational resources aimed at empowering traders of all levels to enhance their skills and knowledge in forex trading. Through free online live classrooms, trading guides, and comprehensive tutorials, traders can delve into various aspects of forex trading, from understanding the basics to mastering advanced strategies. Whether traders are new to forex or seasoned professionals, FXCM offers valuable insights and guidance to help them become more informed and successful traders.

    With a focus on continuous learning and improvement, FXCM's educational resources serve as a valuable tool for traders looking to sharpen their skills and achieve their trading goals.

    Educational Resources

    Is FXCM a Good Exchange for You?

    FXCM targets a broad spectrum of traders, spanning from retail investors to institutional clients, and active traders across forex and CFD markets.

    With a comprehensive suite of trading products including forex, shares, commodities, and indices, it caters to diverse investment preferences. Novice traders benefit from extensive educational resources, such as free online live classrooms and trading guides, while seasoned professionals leverage advanced trading tools and market insights. Its regulatory compliance under the FCA ensures a secure trading environment, attracting risk-conscious individuals seeking reputable platforms.

    Conclusion

    FXCM stands out as a regulated exchange, adhering to strict standards set by the FCA. Security is paramount, evidenced by client money segregation and diligent oversight of banking partners. Its market offerings span a wide array of instruments, from cryptocurrencies like Bitcoin and Ethereum to forex, shares, commodities, and indices, providing ample opportunities for diversification. Educational resources, including live classrooms, guides, and tutorials, empower traders to enhance their skills and navigate the complexities of the market confidently.

    However, regulatory issues, such as exceeding ASIC requirements, pose potential concerns, urging traders to carefully assess risks alongside the platform's offerings.

    FAQs

    Q: What are the deposit and withdrawal methods supported by FXCM?

    A: FXCM supports various methods for depositing and withdrawing funds, including credit/debit card, bank transfer, Skrill, and Neteller.

    Q: Is FXCM suitable for beginners or experienced traders?

    A: FXCM caters to both beginners and experienced traders. The platform offers a user-friendly interface and educational resources that can benefit novice traders, while more experienced traders can take advantage of advanced trading tools and features.

      Q: Are there any additional fees or charges on FXCM?

      A: FXCM does not charges any commissions on trading.

      Q: Does FXCM offer other instruments besides of crypto?

      A: Yes, FXCM also offers instruments including forex, shares, commodities, and indices.

    User Review

    User 1:Yo, FXCM's crypto exchange is pretty cool! Love their security measures, makes me feel safe trading my crypto. The regulation vibes are solid too, being registered in the UK and all. Interface is smooth, easy on the eyes. Got my hands on BTC, ETH, and LTC easily. But, man, their customer support is like a sleepy snail. Fees? Meh, kinda high. Still, I'm staying for the security blanket they got going.

    User 2:Hey there, had a go at FXCM's crypto exchange. Security game is on point, feels like Fort Knox. Appreciate the UK regulation too, adds trust. Interface? Clean and intuitive, no rocket science needed. Liquidity? Not bad, made my trades without major hiccups. They offer BTC, ETH, LTC - basic but solid. But hold up, their customer support needs a Red Bull infusion. Watch out for those trading fees, they can nibble. Overall, good place for safety-first traders.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.