Who are FXCM?
The FXCM group of companies is a leading provider of online foreign exchange (forex) trading, CFD trading, spread betting and related services. Their mission is to inspire global forex traders with access to the world’s largest and most liquid market. By offering the most innovative trading tools, hiring the best trading educators, and meeting strict financial standards to protect trader funds, FXCM strive for the best online trading experience in the market.
FXCM is registered with the Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM) and as a Retail Foreign Exchange Dealer (RFED). The company is also a member of the National Futures Association, which means the firm must meet strict financial standards and provide financial transparency and protection to traders. They also have a resource center called DailyFX which we feature in our best forex twitter accounts to follow page. Through DailyFX traders can access trade signals, forex news and professional analysis. Traders also have access to Live Events, including trading seminars and information sessions. Through DailyFX, traders can also join the forums to interact with analysts, staff and other traders.
FXCM attempts to cater to the trader by offering a variety of platforms, account types and spread/commission structures. All account types provide instant, no-dealing desk execution, access to news, analysis tools, forums, events and trade signals. Infrequent or small traders will benefit from using the Micro account which only requires $50 to open, provides a competitive spread but does not have live phone or chat support. The average trader can use the Standard account which provides competitive spreads, requires a minimum $2000 initial deposit and provides 24-7 live support. Traders doing $10 million or more a month, in volume, will benefit from the Active Trader account, which has reduced spreads but charges a small commission, and also has live 24-7 support.