FXCM, a historic forex broker, was established by Drew Niv in New York in 1999, originally known as Global Brokerage, Inc., and is now owned by Jefferies Financial Group. The broker's headquarters are located in London, UK, with branches in Australia, Europe, Israel, Canada, Hong Kong, and other locations. It is commonly known in China as FXCM. FXCM offers traders services in forex, commodities, indices, stocks, and cryptocurrencies. The official website of FXCM supports only English.
According to information found on Whois, the domain name for FXCM's global website was registered on July 1, 1997. In terms of regulation, FXCM is regulated by ASIC (Australian Securities and Investments Commission), FCA (Financial Conduct Authority of the UK), and CySEC (Cyprus Securities and Exchange Commission).
Registration and Regulation Information:
The official website of FXCM claims that the company is registered and regulated by the FCA in the UK, ASIC in Australia, and CySEC in Cyprus. A search confirmed that registration information can indeed be found with these three regulatory bodies, proving the information published on the company's website to be accurate.
Account Types and Registration:
FXCM offers registration for both real and demo accounts, allowing users to choose according to their needs.
The company's official website does not disclose different account types, only real and demo accounts, nor does it provide specific data on spreads, fees, etc.
It is important to note that from the 1st to the 15th of each month, the platform will deduct a certain fee as a subscription fee, which varies depending on the currency used by users in their region.
Leverage Ratio:
FXCM does not disclose information related to leverage on its website, including which accounts can use leverage and the maximum leverage ratio available.
It's important to note that while leverage can amplify returns, it can also increase risk, so it must be used with caution.
Trading Products:
According to the information on the FXCM website, the company offers a wide range of trading products to investors, including forex, commodities, indices, stocks, and cryptocurrencies, each with an abundance of corresponding data and required information.
Deposits and Withdrawals:
FXCM does not explicitly disclose information on deposit and withdrawal methods or the time required for them on its website but indicates the supported channels through icons.
In the frequently asked questions, FXCM states that the minimum deposit is 50CCY.
Trading Software:
FXCM uses a variety of trading platforms, including the most commonly used MT4, as well as some less popular platforms.
Customer Support:
FXCM's official website offers a variety of contact options, including online customer service, phone, email, and physical addresses, providing diverse ways to meet the needs of different users.
Conclusion:
As a forex broker, FXCM offers a rich variety of trading products and multiple trading platforms, including MT4. It has excellent customer support and verifiable regulation. However, the platform still has some shortcomings, such as the lack of specific parameters for different account types and specific data on deposits and withdrawals.
Currently, FXCM is listed as "Operating Normally" on Traderknows.
