- September 2014
- Posted By Ninoslav
- 0 Comments
FXCM, as another long running forex broker, stands alongside forex brokers like FOREX.com as one of the best rated on the web. There’s a reason for that.
This FXCM Holdings, LLC broker currently serves an incredibly large user base across the world, providing support for people in over a dozen countries. They naturally support several languages and, well, provide those same users with the versatility that they expect from a long time forex broker.
Advantages and Features
Probably one of the most notable advantages that FXCM shares with similar top rated forex brokers is its customer service. Their customer service team is typically available on a 24/7 basis, and are, well, known for getting to customer queries relatively fast. They also offer:
- Robust customer support for patrons in 20 different languages.
- An actively updated news resource, DailyFX.com.
- Tight spreads, reaching as low as 1 pips.
Besides making their company’s financial information completely public, FXCM also provides the standard set of forex trading features like forex signals that most traders expect out of a long standing site like them.
FXCM naturally hosts several trading account types, designed for both newbie and seasoned forex traders. The standard demo account allows traders to use their platform without making an initial deposit, something that’s best suited for traders who want to ‘get a feel’ for FXCM.
The standard 100K account, however, allows seasoned traders to take full advantage of forex trading via FXCM. The thing about this account, however, is that it has a high deposit threshold, meaning that users have to deposit $2,000 USD to open the account. Despite that, the account does offer leverages of up to 1:200 for international traders and 50:1 for traders in the United States.
Traders who don’t want to make the initial $2,000 deposit can open a FXCM Mini-Account. Since it just requires a minimum deposit of $50 USD, it’s mainly designed around getting new traders to start using FXCM. Of course, that doesn’t stop seasoned traders from opening one, too.
A unique feature from FXCM is its Dealing Desk, where traders can trade on market rates provided directly from financial institutions like banks. That ‘secret’ is what allows FXCM to offer much lower variable spreads. Traders can view FXCM’s current spreads via their website.
FXCM is also primarily client-based, meaning that users do have to download the client to their desktop. The good news is that the client itself is intuitive enough for most users to navigate, and is even customizable. FXCM currently offers day trading, stop loss & take profit, entry orders and trailing stop/limit orders.
Some of the best forex tools like forex signals, features and, yes, market rates can be found right at FXCM. It’s one of the reasons why it’s a top rated forex broker.