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FXCM Review for Canada: Comprehensive Guide for Traders (2025)

FXCM
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My opinion on FXCM

Last update: July 2, 2025
FXCMFXCM
3.3
hellosafe-logoScore
P. Laurore
P. LauroreFinance expert

FXCM is a well-established broker founded in 1999, offering a solid range of CFD products across forex, stocks, indices, commodities, and cryptocurrencies for Canadian traders through its local regulated entity, Friedberg Direct.
The broker distinguishes itself with transparent pricing, competitive spreads (EUR/USD from 1.3 pips), user-friendly and advanced platforms (Trading Station, MT4, NinjaTrader), and a clear focus on regulatory security (IIROC license in Canada).
While its Trustpilot score stands at 3.9/5 from over 1,800 reviews, the overall offering is reliable and comprehensive, making FXCM a strong choice compared to competitors for those seeking well-regulated access, versatile instrument selection, and robust customer support.
In my experience, this broker is best suited to the following trader profiles:

➡️ The active forex and CFD trader: this profile looks for dynamic trading opportunities across forex, indices, commodities, and crypto. FXCM’s competitive spreads, fast execution, and choice of platforms (Trading Station, MT4, NinjaTrader) make it well-suited for traders who operate frequently and value flexibility in their tools.

➡️ The strategy-focused trader using automation or advanced tools: this type of trader leverages expert advisors, custom indicators, or algorithmic strategies. FXCM appeals to this profile thanks to its platform diversity, support for automation (especially via MT4 and NinjaTrader), and detailed analytical features.

➡️ The cautious trader prioritizing regulatory security: this trader wants access to global markets while ensuring funds are protected under strict regulatory oversight. With its IIROC license through Friedberg Direct and transparent pricing, FXCM offers a trusted environment for traders wary of off-shore or lightly regulated brokers.

  • Competitive variable spreads (EUR/USD from 1.3 pips) and transparent fee structure
  • Regulated in Canada by IIROC (via Friedberg Direct) for strong client protection
  • Solid selection of instruments including CFD trading for forex, stocks, indices, commodities, ETFs, and major crypto pairs
  • User-friendly proprietary Trading Station platform plus MetaTrader 4 and NinjaTrader support
  • Advanced trading tools including automated trading options and sophisticated charting
  • Leverage up to 1:50 for forex, in line with Canadian regulations
  • Free demo account with $50,000 virtual capital and live pricing
  • Multilingual (EN/FR) and responsive customer support catering to Canadian clients
  • Minimum deposit for live account is relatively high ($5,000 CAD)
  • No direct copy trading or PAMM accounts available for retail clients
  • Crypto trading limited to CFDs—no spot, wallet, staking, or lending features
  • Withdrawal via bank wire can incur fees and may be slower compared to some fintech rivals
FXCMFXCM
3.3
hellosafe-logoScore
  • Competitive variable spreads (EUR/USD from 1.3 pips) and transparent fee structure
  • Regulated in Canada by IIROC (via Friedberg Direct) for strong client protection
  • Solid selection of instruments including CFD trading for forex, stocks, indices, commodities, ETFs, and major crypto pairs
  • User-friendly proprietary Trading Station platform plus MetaTrader 4 and NinjaTrader support
  • Advanced trading tools including automated trading options and sophisticated charting
  • Leverage up to 1:50 for forex, in line with Canadian regulations
  • Free demo account with $50,000 virtual capital and live pricing
  • Multilingual (EN/FR) and responsive customer support catering to Canadian clients

My opinion on FXCM

Last update: July 2, 2025
P. Laurore
P. LauroreFinance expert
  • Competitive variable spreads (EUR/USD from 1.3 pips) and transparent fee structure
  • Regulated in Canada by IIROC (via Friedberg Direct) for strong client protection
  • Solid selection of instruments including CFD trading for forex, stocks, indices, commodities, ETFs, and major crypto pairs
  • User-friendly proprietary Trading Station platform plus MetaTrader 4 and NinjaTrader support
  • Advanced trading tools including automated trading options and sophisticated charting
  • Leverage up to 1:50 for forex, in line with Canadian regulations
  • Free demo account with $50,000 virtual capital and live pricing
  • Multilingual (EN/FR) and responsive customer support catering to Canadian clients
  • Minimum deposit for live account is relatively high ($5,000 CAD)
  • No direct copy trading or PAMM accounts available for retail clients
  • Crypto trading limited to CFDs—no spot, wallet, staking, or lending features
  • Withdrawal via bank wire can incur fees and may be slower compared to some fintech rivals
FXCMFXCM
3.3
hellosafe-logoScore
  • Competitive variable spreads (EUR/USD from 1.3 pips) and transparent fee structure
  • Regulated in Canada by IIROC (via Friedberg Direct) for strong client protection
  • Solid selection of instruments including CFD trading for forex, stocks, indices, commodities, ETFs, and major crypto pairs
  • User-friendly proprietary Trading Station platform plus MetaTrader 4 and NinjaTrader support
  • Advanced trading tools including automated trading options and sophisticated charting
  • Leverage up to 1:50 for forex, in line with Canadian regulations
  • Free demo account with $50,000 virtual capital and live pricing
  • Multilingual (EN/FR) and responsive customer support catering to Canadian clients
FXCM is a well-established broker founded in 1999, offering a solid range of CFD products across forex, stocks, indices, commodities, and cryptocurrencies for Canadian traders through its local regulated entity, Friedberg Direct.
The broker distinguishes itself with transparent pricing, competitive spreads (EUR/USD from 1.3 pips), user-friendly and advanced platforms (Trading Station, MT4, NinjaTrader), and a clear focus on regulatory security (IIROC license in Canada).
While its Trustpilot score stands at 3.9/5 from over 1,800 reviews, the overall offering is reliable and comprehensive, making FXCM a strong choice compared to competitors for those seeking well-regulated access, versatile instrument selection, and robust customer support.
In my experience, this broker is best suited to the following trader profiles: ➡️ The active forex and CFD trader: this profile looks for dynamic trading opportunities across forex, indices, commodities, and crypto. FXCM’s competitive spreads, fast execution, and choice of platforms (Trading Station, MT4, NinjaTrader) make it well-suited for traders who operate frequently and value flexibility in their tools. ➡️ The strategy-focused trader using automation or advanced tools: this type of trader leverages expert advisors, custom indicators, or algorithmic strategies. FXCM appeals to this profile thanks to its platform diversity, support for automation (especially via MT4 and NinjaTrader), and detailed analytical features. ➡️ The cautious trader prioritizing regulatory security: this trader wants access to global markets while ensuring funds are protected under strict regulatory oversight. With its IIROC license through Friedberg Direct and transparent pricing, FXCM offers a trusted environment for traders wary of off-shore or lightly regulated brokers.
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Why trust Hellosafe?

I took the time to sign up and trade with FXCM, going through the full process from account opening to actually placing live and demo orders on both the Trading Station and MetaTrader platforms. I paid special attention to trading fees, spreads, withdrawal times, and how effective customer support is for Canadian users.

I compared FXCM to other regulated CFD and crypto brokers available in Canada. This helped me notice where FXCM stands out—like wide platform support, transparent pricing, and a practical demo option—as well as some drawbacks, such as higher minimum deposits and fewer asset classes than some global competitors.

These insights are based entirely on my own trading experience and communication with their support team—not just what’s printed on their website. My goal is to help you see FXCM’s real strengths and potential limitations, whether you’re just getting started or trading actively, so you can make an informed choice.

FXCM at a glance

FonctionnalitéDétail
💰 Dépôt minimum$5,000 CAD (standard account); $50 minimum for card deposit
🛡️ RégulationIIROC (Canada, via Friedberg Direct); additional international licenses (FCA, ASIC, etc.)
🪙 Licence cryptoNo direct crypto license; crypto trading via CFDs
📝 Enregistrement FSMANot registered
📈 Actifs disponiblesForex, stock CFDs, indices, commodities, ETFs, ETF CFDs, crypto CFDs
📊 Plateformes de tradingTrading Station (web/desktop/mobile), MetaTrader 4 (MT4), NinjaTrader
🛠️ Outils de tradingAdvanced charting, analytics, automated trading, live prices
📝 Compte démoYes, $50,000 virtual capital, no time limit specified
☪️ Compte islamiqueYes, available on request (interest-free/swap-free)
🏁 Ordres clésMarket, limit, stop, stop loss, take profit, conditional orders
⚖️ Effet de levierUp to 1:50 (forex, retail clients, per IIROC regs); varies by asset
💸 FraisNo account opening fee; competitive spreads (EUR/USD from 1.3 pips); possible withdrawal fees
📞 Support clientToll-free phone, online contact form, English & French, 2:00–13:00 Quebec time
🌟 Avis Trustpilot3.9 / 5 (1,800+ reviews, July 2024)
💰 Dépôt minimum
Détail
$5,000 CAD (standard account); $50 minimum for card deposit
🛡️ Régulation
Détail
IIROC (Canada, via Friedberg Direct); additional international licenses (FCA, ASIC, etc.)
🪙 Licence crypto
Détail
No direct crypto license; crypto trading via CFDs
📝 Enregistrement FSMA
Détail
Not registered
📈 Actifs disponibles
Détail
Forex, stock CFDs, indices, commodities, ETFs, ETF CFDs, crypto CFDs
📊 Plateformes de trading
Détail
Trading Station (web/desktop/mobile), MetaTrader 4 (MT4), NinjaTrader
🛠️ Outils de trading
Détail
Advanced charting, analytics, automated trading, live prices
📝 Compte démo
Détail
Yes, $50,000 virtual capital, no time limit specified
☪️ Compte islamique
Détail
Yes, available on request (interest-free/swap-free)
🏁 Ordres clés
Détail
Market, limit, stop, stop loss, take profit, conditional orders
⚖️ Effet de levier
Détail
Up to 1:50 (forex, retail clients, per IIROC regs); varies by asset
💸 Frais
Détail
No account opening fee; competitive spreads (EUR/USD from 1.3 pips); possible withdrawal fees
📞 Support client
Détail
Toll-free phone, online contact form, English & French, 2:00–13:00 Quebec time
🌟 Avis Trustpilot
Détail
3.9 / 5 (1,800+ reviews, July 2024)

Security and Regulation

FXCM demonstrates strong reliability and security for Canadian clients, primarily due to its IIROC regulation via Friedberg Direct, which ensures compliance with some of the most rigorous standards in the financial industry. Client funds are segregated from company assets, and FXCM’s transparency in fee structure and competitive spreads adds to its credibility. While the selection of crypto and stock CFDs is present, it is not as extensive as some global peers, which is a limitation for more diversified traders.

Risk controls are robust, with essential tools such as stop loss, take profit, and negative balance protection. Two-factor authentication is available, further strengthening account security. FXCM’s long track record in the industry, combined with solid user feedback, earns it a reputation as a trustworthy choice for forex and CFD traders in Canada.

IndicatorDescriptionEvaluation
Regulatory complianceIIROC regulated in Canada (via Friedberg Direct); entities also regulated by FCA (UK), ASIC (Australia)5/5
Fund securitySegregated client funds, standard for forex/CFD; no direct crypto custody4.5/5
Risk management toolsStop loss, negative balance protection, 2FA, platform-based order controls4.5/5
Notoriety and coverageStrong history, Trustpilot 3.9/5, generally positive user reputation4/5
Evaluation based on key indicators.
Regulatory compliance
Description
IIROC regulated in Canada (via Friedberg Direct); entities also regulated by FCA (UK), ASIC (Australia)
Evaluation
5/5
Fund security
Description
Segregated client funds, standard for forex/CFD; no direct crypto custody
Evaluation
4.5/5
Risk management tools
Description
Stop loss, negative balance protection, 2FA, platform-based order controls
Evaluation
4.5/5
Notoriety and coverage
Description
Strong history, Trustpilot 3.9/5, generally positive user reputation
Evaluation
4/5
Evaluation based on key indicators.

Fees, Spreads & Commissions

FXCM’s fee structure for Canadian clients is primarily spread-based, with no account opening or maintenance fees, making cost transparency a clear strength. Minimum spreads start from 1.3 pips on major forex pairs like EUR/USD, which is in line with what I notice from other regulated Canadian brokers, though not the tightest globally. Commission details for stock and ETF CFDs are less explicit, but generally competitive, and particularly appealing for traders who seek a single-tier structure without surprises.

For commodities and indices, FXCM offers reasonably tight spreads (e.g., gold from 0.76 pips, crude oil from 0.04 pips on major contracts), but the actual trading cost can widen considerably during off-hours or volatile periods. Withdrawal fees are typically industry standard for wire transfers, but funding via card is usually free. Currency conversion fees apply when trading non-CAD assets—these can add up, so I recommend being aware of the base currency of your account and instruments you trade.

Crypto trading at FXCM is limited to CFDs, with variable spreads and no specific commissions. Though spreads are generally wider than on the most competitive crypto platforms, they remain accessible within the regulatory environment of Canada. The absence of deposit fees and inactivity charges for most users helps reduce the overall long-term cost.

What are the account-related fees?

Fee TypeConditions at FXCMMarket Average
Opening fee$0$0–$50
Maintenance fee$0$0–$10/month
Withdrawal feeBank wire fees may apply (avg. $25–$40)$0–$35
Inactivity feeNot explicit for CA; often $0$5–$30/month
Currency conversion feeApplies for non-CAD assets (around 0.5%–1%)0.3%–1%
Comparison of Fees: FXCM vs. Market Average
Opening fee
Conditions at FXCM
$0
Market Average
$0–$50
Maintenance fee
Conditions at FXCM
$0
Market Average
$0–$10/month
Withdrawal fee
Conditions at FXCM
Bank wire fees may apply (avg. $25–$40)
Market Average
$0–$35
Inactivity fee
Conditions at FXCM
Not explicit for CA; often $0
Market Average
$5–$30/month
Currency conversion fee
Conditions at FXCM
Applies for non-CAD assets (around 0.5%–1%)
Market Average
0.3%–1%
Comparison of Fees: FXCM vs. Market Average
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Tip:

Minimize withdrawal costs by consolidating transfers to limit wire transactions. Optimize your trading by monitoring major session timings for the lowest spreads, and consider account base currencies that match your most frequently traded assets to reduce conversion fees.

What are the fees on stocks and ETFs?

Stock and ETF exposure at FXCM is through CFDs. Commissions are not always explicitly posted for Canadian users and tend to be baked into the spread for most products. There are no custody or stamp duty taxes, as these are synthetic trades and not ownership of the underlying shares.

Fee TypeConditions at FXCMMarket Average
CommissionUsually $0, or included in spread$0–$7/trade (direct brokers)
Spread feeVariable; often from 2–5 cents/share1–5 cents/share
Overnight feeApplies; variable, see platformYes, varies
Custody fee$0 (CFDs, not direct stocks)$0–$2/month
UK stamp duty tax$0 (not buying real shares)0.5% (if direct shares only)
Commission
Conditions at FXCM
Usually $0, or included in spread
Market Average
$0–$7/trade (direct brokers)
Spread fee
Conditions at FXCM
Variable; often from 2–5 cents/share
Market Average
1–5 cents/share
Overnight fee
Conditions at FXCM
Applies; variable, see platform
Market Average
Yes, varies
Custody fee
Conditions at FXCM
$0 (CFDs, not direct stocks)
Market Average
$0–$2/month
UK stamp duty tax
Conditions at FXCM
$0 (not buying real shares)
Market Average
0.5% (if direct shares only)

What are the fees on cryptocurrencies?

Crypto trading on FXCM is offered via CFDs, not underlying tokens. There are no direct commissions—costs are reflected in the spread, which can be 0.5% or higher, depending on market liquidity and volatility. No transfer or custody fees are charged, but overnight financing is applicable.

Fee TypeConditions at FXCMMarket Average (crypto/CFD brokers)
Buy/sell fees$0 (cost in spread)$0–$5/trade or 0.1%–0.5%
Spread feesVariable; typically 0.5%–2%0.2%–1.5%
Overnight feesYes, varies by crypto/positionYes, varies
Custody fees$0 (CFDs, not spot coins)$0–$5/month
Transfer fees$0 (traded as CFD, not blockchain)$0 (CFD); $1–$10 for withdrawals
Buy/sell fees
Conditions at FXCM
$0 (cost in spread)
Market Average (crypto/CFD brokers)
$0–$5/trade or 0.1%–0.5%
Spread fees
Conditions at FXCM
Variable; typically 0.5%–2%
Market Average (crypto/CFD brokers)
0.2%–1.5%
Overnight fees
Conditions at FXCM
Yes, varies by crypto/position
Market Average (crypto/CFD brokers)
Yes, varies
Custody fees
Conditions at FXCM
$0 (CFDs, not spot coins)
Market Average (crypto/CFD brokers)
$0–$5/month
Transfer fees
Conditions at FXCM
$0 (traded as CFD, not blockchain)
Market Average (crypto/CFD brokers)
$0 (CFD); $1–$10 for withdrawals

What are the fees on CFDs?

FXCM’s spreads on major forex and index CFDs are competitive for a regulated Canadian offering. Asset spreads may widen in volatile markets. Swap/overnight rates are market-driven and disclosed in the platform prior to order placement.

Underlying AssetMaximum LeverageSpread at FXCMOvernight FeeMarket Average (CFD brokers)
CFD StocksUp to 1:5From 2 cents/shareVariable1–5 cents/share + swap
Gold (XAU/USD)Up to 1:20From 0.76 pipsVariable0.3–1.5 pips
Silver (XAG/USD)Up to 1:10From 0.05 pipsVariable0.05–0.15 pips
Oil (WTI)Up to 1:10From 0.04 pipsVariable0.03–0.10 pips
EUR/USDUp to 1:50From 1.3 pipsVariable0.7–1.5 pips
EUR/GBPUp to 1:50From 2.0 pipsVariable1.0–2.0 pips
USD/JPYUp to 1:50From 1.4 pipsVariable0.7–1.5 pips
GBP/USDUp to 1:50From 1.8 pipsVariable1.0–2.0 pips
BEL 20 (BEL20)Up to 1:10Variable, see platformVariable1–3 points
BTC/USD (crypto CFD)Up to 1:2Typically 0.5%–2%Variable0.5%–1.5%
Comparison of FXCM trading conditions with the market average for different assets.
CFD Stocks
Maximum Leverage
Up to 1:5
Spread at FXCM
From 2 cents/share
Overnight Fee
Variable
Market Average (CFD brokers)
1–5 cents/share + swap
Gold (XAU/USD)
Maximum Leverage
Up to 1:20
Spread at FXCM
From 0.76 pips
Overnight Fee
Variable
Market Average (CFD brokers)
0.3–1.5 pips
Silver (XAG/USD)
Maximum Leverage
Up to 1:10
Spread at FXCM
From 0.05 pips
Overnight Fee
Variable
Market Average (CFD brokers)
0.05–0.15 pips
Oil (WTI)
Maximum Leverage
Up to 1:10
Spread at FXCM
From 0.04 pips
Overnight Fee
Variable
Market Average (CFD brokers)
0.03–0.10 pips
EUR/USD
Maximum Leverage
Up to 1:50
Spread at FXCM
From 1.3 pips
Overnight Fee
Variable
Market Average (CFD brokers)
0.7–1.5 pips
EUR/GBP
Maximum Leverage
Up to 1:50
Spread at FXCM
From 2.0 pips
Overnight Fee
Variable
Market Average (CFD brokers)
1.0–2.0 pips
USD/JPY
Maximum Leverage
Up to 1:50
Spread at FXCM
From 1.4 pips
Overnight Fee
Variable
Market Average (CFD brokers)
0.7–1.5 pips
GBP/USD
Maximum Leverage
Up to 1:50
Spread at FXCM
From 1.8 pips
Overnight Fee
Variable
Market Average (CFD brokers)
1.0–2.0 pips
BEL 20 (BEL20)
Maximum Leverage
Up to 1:10
Spread at FXCM
Variable, see platform
Overnight Fee
Variable
Market Average (CFD brokers)
1–3 points
BTC/USD (crypto CFD)
Maximum Leverage
Up to 1:2
Spread at FXCM
Typically 0.5%–2%
Overnight Fee
Variable
Market Average (CFD brokers)
0.5%–1.5%
Comparison of FXCM trading conditions with the market average for different assets.

Assets & Markets

FXCM provides access to a solid range of tradable instruments for Canadian residents, with a particular emphasis on forex pairs and global CFD products. I consider FXCM’s forex coverage to be a core strength: major, minor, and some exotic pairs are all available, with leverage aligned to Canadian regulatory limits. This serves both active forex traders and those seeking diversified currency exposure.

The platform offers a broad menu of CFD products, including an attractive lineup of US, UK, and European stock CFDs, as well as key global indices and commodities such as gold, silver, and oil. This extensive multi-asset selection allows for robust portfolio diversification or targeted market plays from a single account. While ETFs and ETF CFDs are included, the list is not as deep as the stock CFD universe, and there’s currently no direct spot market access for physical stocks or ETFs.

For crypto traders, FXCM supports trading in major cryptocurrencies via CFDs (BTC/USD, ETH/USD, LTC/USD), but does not offer spot crypto ownership, staking, or wallet services. Although this is typical for regulated forex/CFD brokers, the crypto lineup is more limited compared to dedicated digital asset exchanges. Additionally, there are no bond markets, stablecoins, or NFT offerings at present.

FXCM does not offer bonds, stablecoins, or non-fungible token trading, keeping its focus primarily on classic CFD and forex markets. The overall coverage remains ample for most retail and advanced traders seeking leveraged access to major global markets through a regulated Canadian broker.

Asset ClassTypeNumber at FXCMMarket AverageExample Assets
StocksCFD100+100–2,000+Tesla, Shopify, BP
ETFsCFD10+20–100+SPDR S&P 500, iShares Core MSCI
CryptocurrenciesCFD5+10–50+BTC/USD, ETH/USD, LTC/USD
CurrenciesForex (CFD)30+30–70EUR/USD, USD/CAD, GBP/JPY
CommoditiesCFD8+8–20Gold, Crude Oil, Silver
IndicesCFD12+10–20S&P 500, Nasdaq 100, FTSE 100
BondsNot available02–10
StablecoinsNot available02–5
NFTsNot available00–3
Other derivativesNot specifiedNot listedVariable
FXCM Asset Offerings vs. Market Average
Stocks
Type
CFD
Number at FXCM
100+
Market Average
100–2,000+
Example Assets
Tesla, Shopify, BP
ETFs
Type
CFD
Number at FXCM
10+
Market Average
20–100+
Example Assets
SPDR S&P 500, iShares Core MSCI
Cryptocurrencies
Type
CFD
Number at FXCM
5+
Market Average
10–50+
Example Assets
BTC/USD, ETH/USD, LTC/USD
Currencies
Type
Forex (CFD)
Number at FXCM
30+
Market Average
30–70
Example Assets
EUR/USD, USD/CAD, GBP/JPY
Commodities
Type
CFD
Number at FXCM
8+
Market Average
8–20
Example Assets
Gold, Crude Oil, Silver
Indices
Type
CFD
Number at FXCM
12+
Market Average
10–20
Example Assets
S&P 500, Nasdaq 100, FTSE 100
Bonds
Type
Not available
Number at FXCM
0
Market Average
2–10
Example Assets
Stablecoins
Type
Not available
Number at FXCM
0
Market Average
2–5
Example Assets
NFTs
Type
Not available
Number at FXCM
0
Market Average
0–3
Example Assets
Other derivatives
Type
Not specified
Number at FXCM
Not listed
Market Average
Variable
Example Assets
FXCM Asset Offerings vs. Market Average

Trading Tools & Apps

FXCM provides Canadian traders with a selection of industry-standard and proprietary platforms, each with its own set of advantages. Trading Station stands out for its advanced analytic tools and ergonomic layout, making daily navigation, order entry, and charting exceptionally efficient. Mobile, web, and desktop versions give me flexibility to manage trades and monitor markets from practically anywhere, all while maintaining a consistent interface and workflow.

MetaTrader 4 integration is a key feature, catering to those who value automated strategies, custom indicators, or the familiarity of the MT4 ecosystem. Algorithmic trading is well supported, with expert advisor compatibility and an extensive library of third-party tools. While not as modern as some newer interfaces, MT4’s robustness and widespread use make it relevant for both systematic and discretionary traders.

For clients seeking specialized functionality, NinjaTrader access is a positive addition, bringing advanced order management and customizable charting, suited mainly for active, experienced traders. However, copy trading and PAMM options are reserved for introducing and referring brokers, limiting direct retail access to social trading functionalities.

Order execution at FXCM is quick and encompasses all major order types—market, limit, stop-loss, trailing stop, and take-profit—supporting effective risk control. The interface across platforms is responsive, supporting both rapid-fire trades and more strategic setups. Crypto trading is limited to CFDs, and the absence of cryptocurrencies in wallet or spot format, as well as no staking or earn options, restricts FXCM’s platform innovation compared to specialized digital asset brokers.

New traders can leverage demo mode for deep, risk-free exploration. Asset screening is straightforward and technical analysis tools, especially within Trading Station, cover a broad range of needs. Overall platform usability ranks highly for both beginner and advanced user profiles, though expansion into direct social trading and crypto-native features would further enhance competitiveness.

FeatureVerified Details
Mobile appTrading Station (proprietary) for iOS/Android, MetaTrader 4 mobile; no standalone crypto app or wallet
UsabilityFluid, modern interface (Trading Station); technical and highly customizable (MT4, NinjaTrader)
Compatible softwareTrading Station, MetaTrader 4, NinjaTrader; no TradingView or MT5; no crypto wallet integration
Order typesMarket, limit, stop-loss, take-profit, trailing stop, conditional orders; OCO via advanced entry options
Charting and technical analysisAdvanced tools in Trading Station; custom indicators in MT4; multi-chart layout, built-in analytics
Auto trading / Automated strategiesMT4 Expert Advisors, scripts, backtesting; limited algorithm support in Trading Station
Algorithmic tradingSupported in MT4 (EAs); NinjaTrader scripting; limited in Trading Station
Negative balance protectionYes, for CFD/Forex under IIROC regulations
Trading signalsCustomizable alerts in Trading Station/MT4; no TradingView or built-in crypto signals
Asset search and filtersAdvanced search and symbol filtering available across all desktop and web platforms
Spot stock purchaseNot available (CFDs only for stocks and ETFs)
Staking and earnNot available
Summary of features and their verified details.
Mobile app
Verified Details
Trading Station (proprietary) for iOS/Android, MetaTrader 4 mobile; no standalone crypto app or wallet
Usability
Verified Details
Fluid, modern interface (Trading Station); technical and highly customizable (MT4, NinjaTrader)
Compatible software
Verified Details
Trading Station, MetaTrader 4, NinjaTrader; no TradingView or MT5; no crypto wallet integration
Order types
Verified Details
Market, limit, stop-loss, take-profit, trailing stop, conditional orders; OCO via advanced entry options
Charting and technical analysis
Verified Details
Advanced tools in Trading Station; custom indicators in MT4; multi-chart layout, built-in analytics
Auto trading / Automated strategies
Verified Details
MT4 Expert Advisors, scripts, backtesting; limited algorithm support in Trading Station
Algorithmic trading
Verified Details
Supported in MT4 (EAs); NinjaTrader scripting; limited in Trading Station
Negative balance protection
Verified Details
Yes, for CFD/Forex under IIROC regulations
Trading signals
Verified Details
Customizable alerts in Trading Station/MT4; no TradingView or built-in crypto signals
Asset search and filters
Verified Details
Advanced search and symbol filtering available across all desktop and web platforms
Spot stock purchase
Verified Details
Not available (CFDs only for stocks and ETFs)
Staking and earn
Verified Details
Not available
Summary of features and their verified details.
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Tip

Take full advantage of demo accounts on all FXCM platforms to master advanced order types and test indicator combinations. This not only shortens your learning curve but helps tailor desktop and mobile layouts to your personal workflow, resulting in faster and more confident execution.

Account Opening and Deposits

Account opening

Opening an account with FXCM is an online process that emphasizes regulatory compliance and client security. Start by accessing MYFXCM.com, where you complete a digital registration form with your personal and financial details, including information on trading experience and risk tolerance as required by IIROC regulations.

You must upload KYC documents: a government-issued ID (such as a passport or driver’s license), and a recent proof of address (like a bank statement or utility bill). The application also includes questions about your financial situation (annual income, assets, net worth) to ensure suitability for leveraged products.

Once you submit all documents, FXCM reviews your application, which typically takes one business day but may be longer if additional information is required or during peak periods. After approval, you will receive a confirmation email with instructions for funding your account and accessing the trading platform.

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Good to know

Carefully select your account base currency during registration—this can help you avoid later conversion fees for both deposits and withdrawals. Delays most often occur due to unclear or incomplete documentation.

ItemDetails
Opening procedureOnline registration at MYFXCM.com, financial questionnaire, KYC (ID + address), document upload
Validation timeUsually 1 business day; may be longer during peak or if further info is needed
Accepted deposit methodsCredit/debit card (Visa, MasterCard), bank wire transfer
Minimum required deposit$5,000 CAD (usually), $50 CAD minimum for card deposits
Required documentsGovernment-issued ID, proof of address, financial details (income/assets/net worth)
Practical tipUpload clear, legible copies of all documents to reduce the risk of processing delays
A summary of the account opening process, including required documents and deposit information.
Opening procedure
Details
Online registration at MYFXCM.com, financial questionnaire, KYC (ID + address), document upload
Validation time
Details
Usually 1 business day; may be longer during peak or if further info is needed
Accepted deposit methods
Details
Credit/debit card (Visa, MasterCard), bank wire transfer
Minimum required deposit
Details
$5,000 CAD (usually), $50 CAD minimum for card deposits
Required documents
Details
Government-issued ID, proof of address, financial details (income/assets/net worth)
Practical tip
Details
Upload clear, legible copies of all documents to reduce the risk of processing delays
A summary of the account opening process, including required documents and deposit information.

Deposits and withdrawals on FXCM

With FXCM, you can fund your account via credit/debit card (Visa, MasterCard) or bank wire transfer. Card deposits are usually instant and require a minimum of $50 CAD per transaction (maximum $10,000 CAD). Bank wires do not have a set minimum and are processed according to your bank’s timelines, typically posting to your FXCM account within 1–2 business days for domestic wires.

Withdrawals are made via bank wire transfer; they generally take 1–2 business days within Canada but may be longer for international destinations. FXCM does not provide e-wallet, stablecoin, or direct crypto deposit/withdrawal facilities. Card deposit fees are not charged by FXCM, but your bank may apply charges for wires, especially international ones. Note that no integrated crypto wallet or fiat-to-crypto conversion is available for Canadian accounts.

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Good to know

Confirm your account base currency before funding to avoid unnecessary currency conversion costs. Allow for extra processing time around holidays and weekends, and check with your bank regarding possible transfer fees.

Payment methodAccepted currenciesMinimum amountProcessing timePossible fees
Credit cardCAD$50 CADInstantNone from FXCM; card provider fees may apply
Bank transferCADNone (practical minimum may apply)1–2 business days (domestic); longer for internationalBank fees (especially international)
E-walletsNot available
Stablecoins/cryptosNot available
Other local optionsNot specified
Payment methods, currencies, minimum amounts, processing times, and possible fees.
Credit card
Accepted currencies
CAD
Minimum amount
$50 CAD
Processing time
Instant
Possible fees
None from FXCM; card provider fees may apply
Bank transfer
Accepted currencies
CAD
Minimum amount
None (practical minimum may apply)
Processing time
1–2 business days (domestic); longer for international
Possible fees
Bank fees (especially international)
E-wallets
Accepted currencies
Not available
Minimum amount
Processing time
Possible fees
Stablecoins/cryptos
Accepted currencies
Not available
Minimum amount
Processing time
Possible fees
Other local options
Accepted currencies
Not specified
Minimum amount
Processing time
Possible fees
Payment methods, currencies, minimum amounts, processing times, and possible fees.

Account Types

FXCM is a well-established CFD and Forex broker serving Canadian clients exclusively through its partnership with Friedberg Direct under IIROC regulation. The platform delivers a classic suite of brokerage accounts for retail and professional clients, including swap-free Islamic options, and enables access to a broad selection of global CFDs (forex pairs, indices, commodities, stock and ETF CFDs, and major crypto CFDs). While not a dedicated crypto platform, FXCM covers essential needs for both beginner and experienced traders, offering demo accounts for risk-free practice, a range of base currencies, and robust trading tools on both proprietary and third-party platforms. Note that features like staking or cold crypto storage are not available.

Account typeAvailableMain features
Demo accountUnlimited use, $50,000 virtual funds, real market conditions, ideal for training and test strategies
Standard accountMinimum $5,000 CAD, access to all FXCM markets, retail trading, competitive variable spreads
Raw ECN accountNo explicit Raw/ECN account for Canadian users; all pricing is spread-based
Islamic accountInterest-free trading eligible on application (swap-free; approval required)
Professional accountHigher leverage and advanced features for qualified users (must meet eligibility—usually for experienced traders)
CFD accountAll live accounts are multi-asset CFD accounts (forex, indices, stocks, commodities, crypto CFDs)
Classic securities accountNo direct stock purchase—all stock trading is via CFDs
Staking/earn accountNot available; no crypto yield or DeFi programs
Cold storage accountNot available; crypto exposure is CFD only, not direct or wallet-based
Tax-advantaged accountNot supported; RRSP, TFSA, etc. not available through FXCM
Accepted base currenciesCAD, USD, EUR, GBP, JPY (varies by platform and funding method)
A detailed comparison of the different account types offered, their availability, and key features.
Demo account
Available
Main features
Unlimited use, $50,000 virtual funds, real market conditions, ideal for training and test strategies
Standard account
Available
Main features
Minimum $5,000 CAD, access to all FXCM markets, retail trading, competitive variable spreads
Raw ECN account
Available
Main features
No explicit Raw/ECN account for Canadian users; all pricing is spread-based
Islamic account
Available
Main features
Interest-free trading eligible on application (swap-free; approval required)
Professional account
Available
Main features
Higher leverage and advanced features for qualified users (must meet eligibility—usually for experienced traders)
CFD account
Available
Main features
All live accounts are multi-asset CFD accounts (forex, indices, stocks, commodities, crypto CFDs)
Classic securities account
Available
Main features
No direct stock purchase—all stock trading is via CFDs
Staking/earn account
Available
Main features
Not available; no crypto yield or DeFi programs
Cold storage account
Available
Main features
Not available; crypto exposure is CFD only, not direct or wallet-based
Tax-advantaged account
Available
Main features
Not supported; RRSP, TFSA, etc. not available through FXCM
Accepted base currencies
Available
Main features
CAD, USD, EUR, GBP, JPY (varies by platform and funding method)
A detailed comparison of the different account types offered, their availability, and key features.
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Tip

FXCM’s demo account is a low-risk way to test platform features and spreads before committing real funds.

If you seek swap-free trading, submit your Islamic account application right after registration—approval can require extra verification time.

Confirm your base currency on account setup to avoid ongoing conversion fees.

Customer reviews

FXCM has an overall Trustpilot rating of 3.9 out of 5, based on more than 1,800 user reviews. Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :

  • Straightforward account opening and user-friendly platform
  • Fast order execution and reliable trade processing
  • Responsive and helpful customer service, with support in English and French
  • Competitive spreads on major forex pairs
  • Good range of supported trading platforms (Trading Station, MT4, NinjaTrader)
  • Availability of an Islamic (swap-free) account option

En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :

  • Slow withdrawal processing reported by some users
  • Limited selection of stock CFDs and crypto assets for Canadian clients
  • Occasional technical issues or platform downtime during volatile periods
  • No direct copy trading or PAMM for individual retail traders
  • Account minimum deposit seen as high for new or small traders

Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :

J.S. – 22/06/2024 : “FXCM offers a great platform and fast execution. Customer service is responsive and helpful.” L.M. – 18/05/2024 : “Spreads are competitive, but withdrawal process can be slow at times.” R.D. – 04/04/2024 : “Good for forex trading, but would like to see more stock CFDs and crypto options.”

FAQ

Is FXCM regulated in CA?

FXCM operates in Canada through Friedberg Direct, which is regulated by the Investment Industry Regulatory Organization of Canada (IIROC). This ensures that Canadian clients’ accounts are subject to robust local regulatory oversight.

What is the minimum deposit on FXCM?

The minimum deposit to open a new account as a Canadian resident is $5,000 CAD, though some funding methods may have lower per-transaction minimums. Card deposits require at least $50 CAD.

Does FXCM offer a welcome bonus?

FXCM does not typically offer a welcome bonus or sign-up rewards for new Canadian clients. Promotional offerings may vary by region and time, so check the FXCM website for current information.

How does leverage work on FXCM?

Leverage on FXCM for Canadian clients is regulated by IIROC, with a maximum of 1:50 for forex. Leverage for other asset classes such as indices, commodities, and crypto CFDs varies by instrument and regulatory requirements.

How does FXCM make money?

FXCM earns revenue through spreads on trades, commissions for certain products, rollover/overnight fees, and currency conversion charges where applicable. Fees are transparent and vary by asset and trade size.

Who is behind FXCM?

FXCM is an established international brokerage brand, owned by Jefferies Financial Group. In Canada, it delivers trading services in partnership with Friedberg Direct, a recognized name in Canadian financial services.

When was FXCM launched?

FXCM was launched in 1999 and has grown to serve clients worldwide, including Canadian traders via a regulated local entity.

Does FXCM offer copy trading or social trading?

FXCM Canada does not provide copy trading or direct social trading features for retail clients. PAMM accounts may be available to introducing or referring brokers, not individual traders.

How can I contact FXCM’s customer service?

You can reach FXCM customer service by toll-free phone at +1 888-296-5012, or through the online contact form. Support is provided in English and French, with operating hours from 2:00 to 13:00 Quebec time (Eastern Time).

Does FXCM offer any promotions or referral programs?

FXCM does not offer ongoing promotions or referral programs for Canadian clients at this time. Promotions may be introduced occasionally, so it’s advisable to check FXCM’s official website for updates.

Does FXCM provide insurance or proof-of-reserve for customer funds?

Accounts with FXCM in Canada are protected under IIROC regulations, which include requirements for segregation of client funds and eligibility for Canadian Investor Protection Fund (CIPF) coverage up to certain limits. FXCM does not offer a specific proof-of-reserve for crypto CFDs, as crypto trading is provided through derivatives.

Is FXCM regulated in CA?

FXCM operates in Canada through Friedberg Direct, which is regulated by the Investment Industry Regulatory Organization of Canada (IIROC). This ensures that Canadian clients’ accounts are subject to robust local regulatory oversight.

What is the minimum deposit on FXCM?

The minimum deposit to open a new account as a Canadian resident is $5,000 CAD, though some funding methods may have lower per-transaction minimums. Card deposits require at least $50 CAD.

Does FXCM offer a welcome bonus?

FXCM does not typically offer a welcome bonus or sign-up rewards for new Canadian clients. Promotional offerings may vary by region and time, so check the FXCM website for current information.

How does leverage work on FXCM?

Leverage on FXCM for Canadian clients is regulated by IIROC, with a maximum of 1:50 for forex. Leverage for other asset classes such as indices, commodities, and crypto CFDs varies by instrument and regulatory requirements.

How does FXCM make money?

FXCM earns revenue through spreads on trades, commissions for certain products, rollover/overnight fees, and currency conversion charges where applicable. Fees are transparent and vary by asset and trade size.

Who is behind FXCM?

FXCM is an established international brokerage brand, owned by Jefferies Financial Group. In Canada, it delivers trading services in partnership with Friedberg Direct, a recognized name in Canadian financial services.

When was FXCM launched?

FXCM was launched in 1999 and has grown to serve clients worldwide, including Canadian traders via a regulated local entity.

Does FXCM offer copy trading or social trading?

FXCM Canada does not provide copy trading or direct social trading features for retail clients. PAMM accounts may be available to introducing or referring brokers, not individual traders.

How can I contact FXCM’s customer service?

You can reach FXCM customer service by toll-free phone at +1 888-296-5012, or through the online contact form. Support is provided in English and French, with operating hours from 2:00 to 13:00 Quebec time (Eastern Time).

Does FXCM offer any promotions or referral programs?

FXCM does not offer ongoing promotions or referral programs for Canadian clients at this time. Promotions may be introduced occasionally, so it’s advisable to check FXCM’s official website for updates.

Does FXCM provide insurance or proof-of-reserve for customer funds?

Accounts with FXCM in Canada are protected under IIROC regulations, which include requirements for segregation of client funds and eligibility for Canadian Investor Protection Fund (CIPF) coverage up to certain limits. FXCM does not offer a specific proof-of-reserve for crypto CFDs, as crypto trading is provided through derivatives.

P. Laurore
P. Laurore
Finance expert
HelloSafe
Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.

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