FXCM Review
Whether you prefer automated forex trading, or choose to perform your analysis yourself, and open and close your positions on this basis, ensuring that you are trading with the right broker is crucial to being successful in the currency market. In this context, we want to discuss the firm FXCM in this article.
FXCM, or Forex Capital Markets LLC, was founded in 1999 by a number of financial experts with the goal of bringing the benefits of currency trading to the general public. The firm has been the pioneer in many different areas of retail forex brokerage, and it is today one of the largest market makers in the world, with over $500 billion in monthly volume of client transactions.
The main advantages of FXCM are the competitive prices offered by the firm in addition to the vast expertise of the staff who constantly develop new solutions in order to provide a better forex trading experience to clients. The firm implements a No-Dealing-Desk policy during the process of client trades which means that there is no conflict of interest between the broker and the trader, as no intervention is possible or necessary. Also, banks and other liquidity providers do not see the trader’s stops, limits, or entry instructions, and these aspects of the trader’s orders cannot be exploited for illicit profits by them.
FXCM allows scalping, and news trading. Carry trading is also supported as open positions receive interest income at the rollover time on each day’s market close. Competitive quotes are reinforced by competitive spreads, with the spread of the EURUSD pair at just 2 pips, while GBPUSD spread is 3 only.
FXCM offers many advantages to traders, and different packages to suit different needs. Demo, standard and mini-accounts are all available to traders, and the firm’s news and analysis branch at Dailyfx.com supplies clients with excellent insight into the market action by enlisting skilled and seasoned money managers, analysts, and commentators. Of course, the firm is regulated by the CFTC and is a member of the NFA, two of the most powerful institutions in the world when the subject is the regulation of online forex trading.
Is FXCM suitable for you? While each trader has his own unique needs and requirements, FXCM services such a diverse array of clients from both the retail and professional segments of the market that one cannot help but be convinced that there is something suitable to everyone in the choices offered by this firm. Beginners may benefit from FXCM’s mini-account option, and the immense amount of educational material available at the websites of the company. Professionals will enjoy using the special packages created for successful and active traders. Both will relish experiencing the honorable culture of the customer care staff.
In other words, regardless of the strategy you use, or the forex system you implement, FXCM is a good choice for you as a trader. Regulated, trusted, and reliable, this is a company that will make you feel proud of your relationship.
From The Archive
“The firm has been the pioneer in many different areas of retail forex brokerage, and it is today one of the largest market makers in the world, with over $500 billion in monthly volume of client transactions.”
Please keep in mind that FXCM is not a market maker for the No Dealing Desk accounts. Every trade is executed back to back with a bank or financial instutition. The best spreads available to FXCM are streamed onto the platform with a small mark up.
Thank you for that clarification Jason!