My opinion on FXCM
FXCM stands out as a long-established, IIROC-regulated broker with a focus on Forex and CFD trading for experienced clients in Canada.Its competitive commission-based pricing, variety of tradable CFDs (covering forex, indices, commodities, stocks, and crypto), and advanced proprietary platform (Trading Station) earn it a solid rating for advanced traders—though a less compelling option for beginners due to the high $5,000 CAD minimum deposit and lack of spot asset ownership or tax-advantaged accounts.Compared to rivals like Oanda, Moomoo, and Webull, FXCM targets well-capitalized traders seeking advanced analytical tools and leverage rather than casual investors or new traders; its main strengths are robust regulation and strong platform functionality.Founded in 1999, FXCM serves clients worldwide under multiple top-tier regulations and is considered reliable; as of the latest data, FXCM’s global Trustpilot score is not specified for Canada, but it is generally rated "Great" with over 1000 reviews internationally.Based on my experience, FXCM is best suited for the following trader profiles:According to my experience, FXCM is best suited for the following types of traders:
➡️ Advanced forex and CFD traders: FXCM is tailored for experienced individuals who prioritize tight spreads, low-latency execution, and access to deep liquidity across major FX pairs and CFD markets. The Trading Station platform, combined with MT4 and automation tools, supports professional-level trading strategies and algorithmic setups.
➡️ Traders seeking leverage and analytics: With features like advanced charting, technical indicators, and real-time market sentiment tools, FXCM appeals to traders who actively monitor and analyze the markets. Its leverage offerings are competitive (within Canadian regulatory limits), making it ideal for active speculation.
➡️ Well-capitalized, risk-tolerant investors: The high minimum deposit ($5,000 CAD) and focus on margin-based CFD trading make FXCM a better fit for clients with significant trading capital and a solid understanding of risk management—rather than for entry-level or passive investors.
- ✅Strong IIROC regulation for Canadian clients, ensuring high safety standards
- ✅Wide range of tradable CFDs: forex pairs, indices, commodities, stock CFDs, crypto CFDs
- ✅Advanced proprietary Trading Station platform with robust charting and analytics
- ✅MetaTrader 4 (MT4) support (availability may vary for Canadians)
- ✅Leverage up to 50:1 compliant with Canadian regulations
- ✅Variety of order types, including OCO and Trailing Stops
- ✅Free $50,000 demo account for practice
- ✅No account opening fees
- ✅24/5 responsive multilingual customer support (phone, chat, email, SMS)
- ✅Islamic (swap-free) accounts available upon request
- ❌High minimum deposit ($5,000 CAD), making it inaccessible for many new or small-scale traders
- ❌CFD-only offering—no direct stock, ETF, or spot crypto ownership
- ❌No copy trading or PAMM services for retail clients
- ❌No lending, staking, or crypto wallet features
- ❌Potential inactivity and withdrawal fees (method-dependent)
- ❌Spreads not as transparent as some competitors; check official tables for live rates
- ❌Limited selection of crypto CFDs, no stablecoins
- ❌No TFSA/RRSP or tax-advantaged Canadian accounts
- ❌Availability of features/platforms may differ for Canadian users
Score- ✅Strong IIROC regulation for Canadian clients, ensuring high safety standards
- ✅Wide range of tradable CFDs: forex pairs, indices, commodities, stock CFDs, crypto CFDs
- ✅Advanced proprietary Trading Station platform with robust charting and analytics
- ✅MetaTrader 4 (MT4) support (availability may vary for Canadians)
- ✅Leverage up to 50:1 compliant with Canadian regulations
- ✅Variety of order types, including OCO and Trailing Stops
- ✅Free $50,000 demo account for practice
- ✅No account opening fees
- ✅24/5 responsive multilingual customer support (phone, chat, email, SMS)
- ✅Islamic (swap-free) accounts available upon request
My opinion on FXCM
- ✅Strong IIROC regulation for Canadian clients, ensuring high safety standards
- ✅Wide range of tradable CFDs: forex pairs, indices, commodities, stock CFDs, crypto CFDs
- ✅Advanced proprietary Trading Station platform with robust charting and analytics
- ✅MetaTrader 4 (MT4) support (availability may vary for Canadians)
- ✅Leverage up to 50:1 compliant with Canadian regulations
- ✅Variety of order types, including OCO and Trailing Stops
- ✅Free $50,000 demo account for practice
- ✅No account opening fees
- ✅24/5 responsive multilingual customer support (phone, chat, email, SMS)
- ✅Islamic (swap-free) accounts available upon request
- ❌High minimum deposit ($5,000 CAD), making it inaccessible for many new or small-scale traders
- ❌CFD-only offering—no direct stock, ETF, or spot crypto ownership
- ❌No copy trading or PAMM services for retail clients
- ❌No lending, staking, or crypto wallet features
- ❌Potential inactivity and withdrawal fees (method-dependent)
- ❌Spreads not as transparent as some competitors; check official tables for live rates
- ❌Limited selection of crypto CFDs, no stablecoins
- ❌No TFSA/RRSP or tax-advantaged Canadian accounts
- ❌Availability of features/platforms may differ for Canadian users
Score- ✅Strong IIROC regulation for Canadian clients, ensuring high safety standards
- ✅Wide range of tradable CFDs: forex pairs, indices, commodities, stock CFDs, crypto CFDs
- ✅Advanced proprietary Trading Station platform with robust charting and analytics
- ✅MetaTrader 4 (MT4) support (availability may vary for Canadians)
- ✅Leverage up to 50:1 compliant with Canadian regulations
- ✅Variety of order types, including OCO and Trailing Stops
- ✅Free $50,000 demo account for practice
- ✅No account opening fees
- ✅24/5 responsive multilingual customer support (phone, chat, email, SMS)
- ✅Islamic (swap-free) accounts available upon request
Why trust Hellosafe?
I want you to know that I personally took the time to test FXCM as thoroughly as possible. My experience included trying out the trading platforms, analyzing fee structures, monitoring order execution, and having direct contact with their customer support—just to answer the real questions Canadian traders have: Is FXCM trustworthy? Who will FXCM suit best? Where does it really stand out, and where does it fall short?
I compared FXCM’s trading tools and account setup process with those of other regulated brokers in Canada. I checked for hidden costs, looked into the minimum deposits, and paid attention to both the quality of their web and mobile platforms and the types of assets and CFDs available. I also reached out to support to see how quickly and clearly they responded compared to industry standards.
These insights come from genuine, hands-on use—not just reading a website. My conclusion is based on how FXCM performs in real trading conditions and how it stacks up next to other major, regulated brokers in the Canadian market. You can trust that my assessment is experience-driven, transparent, and always with your interests in mind.
FXCM at a Glance
| Fonctionnalité | Détail |
|---|---|
| 💰 Dépôt minimum | $5,000 CAD |
| 🛡️ Régulation | IIROC (via Friedberg Direct/Friedberg Mercantile Group Ltd.) |
| 🪙 Licence crypto | Crypto CFDs available (not direct crypto license); subject to local availability |
| 📄 Enregistrement FSMA | Not applicable (no FSMA registration; IIROC regulated in Canada) |
| 📈 Actifs disponibles | Forex pairs, indices, commodities, stock CFDs, crypto CFDs |
| 📊 Plateformes de trading | Trading Station (Web/Desktop/Mobile), MetaTrader 4 (MT4; may be restricted in CA) |
| 🛠️ Outils de trading | Advanced charting, automated trading, real-time analytics, order management tools |
| 🧪 Compte démo | Yes, free with $50,000 virtual funds |
| ☪️ Compte islamique | Available on request (swap-free terms) |
| 📝 Ordres clés | Market, limit, stop, trailing stop, OCO (One Cancels Other), conditional orders |
| ⚖️ Effet de levier | Up to 50:1 for retail clients (per IIROC guidelines in Canada) |
| 💸 Frais | Commission-based (e.g., $0.14 per 10k forex round turn); spread and other fees apply |
| 📞 Support client | Phone, email, live chat, SMS; available 24/5 |
| 🌟 Avis Trustpilot | Global: Around 3.9/5 (may vary); check Trustpilot for latest user feedback |
Security & Regulation
FXCM stands out for its solid security framework, anchored by regulation through IIROC as Friedberg Direct in Canada. This tier-1 regulatory status means client interests are protected by some of the strictest standards in the industry, including strict capital requirements and full alignment with Canadian investor protection rules.
Client funds are segregated from company assets, significantly reducing counterparty risk in the event of insolvency. While FXCM is not a direct crypto exchange and therefore does not offer cold storage or proof-of-reserves for digital assets, its procedures for forex and CFD fund protection are robust by traditional brokerage standards.
Risk management tools on the Trading Station platform are solid, with advanced options like stop loss, trailing stops, and OCO orders. Negative balance protection is available, which acts as a safety net in volatile markets. Two-factor authentication helps strengthen account security.
FXCM’s reputation is supported by a long-standing presence in the global CFD and forex market, though public reviews in Canada are less numerous compared to some competitors. The broker’s association with Friedberg Direct boosts its credibility and ensures a higher standard of oversight for Canadian clients.
| Indicator | Description | Evaluation |
|---|---|---|
| Regulatory compliance | IIROC-regulated in Canada via Friedberg Direct; no specific crypto license | 5/5 |
| Fund security | Segregated client funds, no crypto cold storage for retail | 4/5 |
| Risk management tools | Stop loss, negative balance protection, 2FA, advanced order types | 4/5 |
| Notoriety and coverage | Established track record, good reputation, moderate online feedback | 4/5 |
Fees, Spreads and Commissions
FXCM applies a commission-based model for most of its trading products, notably on forex pairs, which provides some clarity but can add up for high-frequency traders. The standard commission is $0.07 per 1,000 units ($0.14 round turn) traded on majors such as EUR/USD, which is in line with regulated brokers, but not necessarily among the lowest in the market. Spreads can be competitive depending on market conditions; however, the actual spread figures for Canada are not always transparent, which makes real cost analysis a challenge. Overall, while the commission-based model appeals to active traders, the lack of ultra-tight raw spreads and limited transparency on all trading instruments means FXCM's pricing sits around the market average, without a clear edge over other top brokers.
On the CFD side, costs differ by asset. I find the fees on major forex pairs and gold to be reasonable but not groundbreaking, and overnight (swap) fees—a regular expense for multi-day positions—are present and should not be overlooked. While no explicit custody or inactivity fees are clearly advertised for Canadian accounts, potential inactivity charges, as well as withdrawal or currency conversion costs, can impact traders who do not use USD as their base currency. Crypto CFD trading is available, but fee details are not prominently disclosed; generally, such instruments feature wider spreads and higher overnight rates than traditional assets.
The $5,000 CAD minimum deposit for new Canadian accounts is a significant hurdle compared to most competitors that have little or no minimum. This positions FXCM for more serious traders and limits its suitability for newcomers or those with smaller account sizes. Deposit and withdrawal fees are largely dependent on the payment provider, and although FXCM does not directly profit from these, the user experience can be affected, especially with currency conversion margins.
What are the account-related fees?
| Fee Type | Conditions at FXCM | Market Average |
|---|---|---|
| Opening fee | $0 | $0 |
| Maintenance fee | $0 | $0–$10/month |
| Withdrawal fee | $0–$40 (by method/provider) | $0–$25 |
| Inactivity fee | Not specified (may apply) | $10–$20/month |
| Currency conversion fee | Variable, by provider/exchange rate, not fixed | 0.5%–1.5% |
Trader Tip
Trip: If you're an active trader, always check the detailed spread table in your FXCM trading platform to assess real trading costs in live market conditions. Favor currency pairs with the highest liquidity and smallest spreads, and consider minimizing costly withdrawals or transfers by planning larger, less frequent transactions.
What are the fees on stocks and ETFs?
While FXCM does not provide direct access to stocks or ETFs, it offers CFDs on these assets. Trading stock CFDs at FXCM involves a spread plus a commission model, with typically $0.07 per 1,000 units ($0.14 round turn) on major forex pairs, and stock CFD commissions and overnight fees varying by asset. There are no custody fees or UK stamp duty taxes for CFDs, but overnight holding charges apply.
| Fee Type | Conditions at FXCM | Market Average |
|---|---|---|
| Commission | $0.07 per 1,000 units (forex); stock CFD commissions vary | $0–$0.02/share or $5–$10/trade |
| Spread fee | Variable, e.g., from 0.6–2.0 pips (forex), wider on equities | Similar, competitive brokers |
| Overnight fee | Yes, daily (varies by asset and direction) | Yes, daily |
| Custody fee | $0 (for CFDs) | $0–$10/month |
| UK stamp duty tax | $0 (not applicable to CFDs at FXCM) | $0–0.5% (no CFDs) |
What are the fees on cryptocurrencies?
FXCM allows trading in a limited number of crypto CFDs. The costs reflect typical CFD broker pricing: wide spreads and significant overnight fees, but no custody or blockchain withdrawal fees, since coins are not physically held by users. Always check the platform's real-time trading costs for updated spread and rollover rates.
| Fee Type | Conditions at FXCM | Market Average (crypto or CFD brokers) |
|---|---|---|
| Buy/sell fees | Included in spread, typically 0.8–2.5%+ | 0.5–2.0% (CFDs/crypto brokers) |
| Spread fees | Wide, e.g., BTC/USD from $35+ | $20–$60+ (BTC) |
| Overnight fees | Yes, daily (varies by crypto CFD) | Yes, often high |
| Custody fees | $0 (CFDs, not custody of real assets) | $0–$20/month (if applicable) |
| Transfer fees | $0 (no blockchain withdrawals for CFDs) | $0–$25 (for real crypto brokers) |
What are the fees on CFDs?
FXCM structures its CFD pricing around a variable spread model with commissions where relevant. Most major asset classes—forex pairs, commodities, indices, and crypto—are accessible as CFDs. The broker is average in spread competitiveness but above average in transparency for commission details, though overnight charges need to be factored in for longer holding periods.
| Underlying Asset | Maximum Leverage | Spread at FXCM | Overnight Fee | Market Average (CFD brokers) |
|---|---|---|---|---|
| CFD Stocks | 5:1 | Variable, from $0.07 per 1,000 units | Yes, daily (varies) | $5–$10/trade + spread |
| Gold (XAU/USD) | 20:1 | Variable, tight in major markets | Yes, daily | $0.30–$0.50/oz + overnight |
| Silver (XAG/USD) | 10:1 | Variable | Yes, daily | $0.02–$0.05/oz + overnight |
| Oil (WTI) | 10:1 | Variable, competitive in liquid hours | Yes, daily | $0.03–$0.10/barrel + overnight |
| EUR/USD | 50:1 | Typically from 0.7 pips* | Yes, daily | 0.6–1.2 pips + commission |
| EUR/GBP | 50:1 | Not published (usually competitive) | Yes, daily | 0.7–1.3 pips + commission |
| USD/JPY | 50:1 | Not published | Yes, daily | 0.7–1.1 pips + commission |
| GBP/USD | 50:1 | Not published | Yes, daily | 0.8–1.4 pips + commission |
| BEL 20 (BEL20) | 5:1 | Variable | Yes, daily | $1–$3 + spread |
| BTC/USD (crypto CFD) | 2:1 | Wide, from $35+ | Yes, significant | $20–$60 spread + overnight |
Assets & Markets
FXCM offers a well-focused set of tradable assets primarily based on contracts for difference (CFDs), catering to active traders seeking exposure to global financial markets without direct ownership of the underlying assets. The range of forex pairs is a genuine strength—major, minor, and select exotic pairs are all represented—which provides flexibility to forex-focused strategies and strong coverage for international currency trading.
I find the depth of index and commodity CFDs at FXCM competitive, with access to popular markets like the S&P 500, Nasdaq 100, gold, silver, and crude oil. This allows for both hedging and speculative trading across the world’s most liquid benchmarks. However, the offering becomes more limited for stocks and ETFs, where only a basic selection of stock CFDs is available and direct spot ownership or access to major global equity indices through cash ETFs is missing.
The crypto market offering consists of a small number of CFDs on leading coins. This gives some access to digital assets but falls short for traders looking for broader token diversity, direct crypto transfers, or exposure to stablecoins and NFTs. Absence of bonds, stablecoins, and other alternative instruments also restricts portfolio diversification for those with multi-asset objectives.
Overall, FXCM’s market coverage is strongest in the core forex, indices, and commodities segments, but it is best suited to clients who prioritize leveraged derivative trading over holding a wide array of spot assets or seeking niche crypto products.
| Asset Class | Type | Number at FXCM | Market Average | Example Assets |
|---|---|---|---|---|
| Stocks | CFD | ~50+ | 100s–1000s | Tesla, Apple, Amazon |
| ETFs | CFD | Few/Not explicitly listed | 100s | QQQ (via index CFDs), SPY |
| Cryptocurrencies | CFD | Limited (varies, 5–10) | 20–80 | BTC/USD, ETH/USD, LTC/USD |
| Currencies | Forex | 40–50+ pairs | 50–80+ | EUR/USD, USD/JPY, GBP/CAD |
| Commodities | CFD | 10+ | 10–30 | Gold, Silver, Crude Oil |
| Indices | CFD | 10+ | 10–40 | S&P 500, FTSE 100, NASDAQ 100 |
| Bonds | – | 0 | 5–20 (via CFDs) | – |
| Stablecoins | – | 0 | 2–5 | – |
| NFTs | – | 0 | 0–2 | – |
| Other derivatives | – | None listed | 0–10 | – |
Trading Tools & Apps
FXCM’s proprietary Trading Station platform stands out for its comprehensive charting, deep market analytics, and multi-device consistency, making it especially effective for advanced CFD and forex traders. The interface is logically structured with customizable layouts, offering fast access to order types and deep historical data. I find the desktop and web versions most suitable for strategy development thanks to their built-in strategy tester and scripting capabilities.
MetaTrader 4 (MT4) integration remains a major asset, supporting algorithmic trading and Expert Advisors (EAs) for those who prefer industry-standard automation tools. The execution quality on MT4 is reliable, and access to custom indicators or backtesting is robust, though some advanced order types available on Trading Station (like OCO or trailing stops) may be absent or require plugins.
Mobile functionality on both Trading Station and MT4 delivers the essentials for on-the-go management, including one-touch trading, live quotes, and basic charting. However, technical analysis is more limited compared to the desktop platforms, and users looking for advanced drawing tools or in-depth studies will be better served by the main applications.
FXCM does not provide proprietary access to TradingView, nor does it have dedicated crypto apps or native wallets. There is no built-in spot stock trading or support for staking/earn features—this keeps the focus squarely on leveraged CFD/forex products. Asset search and filter options are effective, but breadth is limited by the platform’s CFD-only model.
| Feature | Verified Details |
|---|---|
| Mobile app | FXCM Trading Station and MT4 apps for iOS/Android; no TradingView, crypto app, or wallet offered |
| Usability | Fluid and professional interface; highly customizable on web/desktop, simplified on mobile |
| Compatible software | MetaTrader 4 (MT4), Trading Station (proprietary); API available for advanced users |
| Order types | Market, limit, stop-loss, take-profit, trailing stop, OCO |
| Charting and technical analysis | Built-in indicators, advanced technical tools, strategy tester; limited on mobile |
| Auto trading / Automated strategies | Expert Advisors (MT4), automated rules in Trading Station; no copy trading on retail accounts |
| Algorithmic trading | Supports custom scripts and coded strategies (MT4, Trading Station); API access for automation |
| Negative balance protection | Yes, for CFD/Forex |
| Trading signals | Available via platform analytics, not via TradingView |
| Asset search and filters | Asset browser and filters for forex, indices, commodities, crypto CFDs |
| Spot stock purchase | Not available (CFD-only platform) |
| Staking and earn | Not available |
Trader Tip
Trip: To get the most from FXCM, use the desktop or web Trading Station for full analytics—and start in demo mode to practice new strategies or automation features before committing real capital. Remember: trailing stops and strategic order placement are best managed from the main platform and not from mobile.
Account Opening & Deposits
Account opening
Opening an account with FXCM begins online at their secure registration portal. You will fill out a registration form requesting basic details, then provide financial information as part of a regulatory suitability questionnaire. The platform will prompt you to upload required identity documents, such as a valid passport or driver’s license and a recent proof of address.
KYC checks are mandatory. FXCM also requests information about your employment and source of funds to comply with financial regulations. Once you submit the documentation, the validation time for review is usually one to two business days. FXCM will send a confirmation email granting access once the account is approved.
Good to know
Choosing the correct base currency during registration will simplify future deposits and withdrawals and help avoid unnecessary conversion fees. Verification may take longer during times of high demand.
| Item | Details |
|---|---|
| Opening procedure | Online form, financial details, regulatory questionnaire, KYC/AML document upload |
| Validation time | 1–2 business days after submitting all required documents |
| Accepted deposit methods | Credit/debit card, bank wire transfer (others may be offered regionally) |
| Minimum required deposit | $5,000 CAD for new accounts |
| Required documents | Government ID (passport, driver’s license), proof of address, source of funds |
| Practical tip | Ensure your name matches exactly on all documents to avoid processing delays |
Deposits and withdrawals on FXCM
Depositing to and withdrawing from your FXCM account is straightforward. You can fund your account using a credit or debit card or via bank transfer. Deposits by card are typically processed within two hours, while bank transfers might take up to several business days depending on your bank. The minimum deposit for Canadian clients is $5,000 CAD, and additional currency conversion fees may apply if depositing in a currency other than your base account currency. FXCM does not currently offer integrated wallets or fiat-to-crypto conversions.
Withdrawals can be initiated back to the same method you used for your deposit, with bank wires and card payments generally processed within one to five business days. Some methods or banks may charge their own processing fees, so it is recommended to check with both FXCM and your bank for any potential additional costs.
Good to know
Always confirm your account’s base currency before depositing to minimize conversion fees, and check your bank’s policies for potential incoming transfer or processing charges.
| Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
|---|---|---|---|---|
| Credit card | CAD, USD, others | $5,000 CAD | Up to 2 hours | Card issuer or FXCM fees may apply |
| Bank transfer | CAD, USD, others | $5,000 CAD | 1–5 business days | Bank or FXCM fees possible |
| E-wallets | Not typically offered for CA | – | – | – |
| Stablecoins/cryptos | Not offered | – | – | – |
| Other local options | As available (check with support) | Varies | Varies | May incur extra fees |
Account Types
FXCM is a specialized CFD/Forex broker, offering trading accounts tailored primarily to active and experienced traders in Canada. Unlike crypto platforms, FXCM does not provide crypto staking, cold storage, or tax-advantaged accounts. Instead, its focus is on classic leveraged trading, with a powerful demo environment and specialized options such as Islamic (swap-free) accounts by request. There is no Raw ECN, classic securities, or crypto staking account, and FXCM’s minimum deposit is relatively high for Canadian clients. Below is a summary to help you quickly compare the available account types and their features.
| Account type | Available | Main features |
|---|---|---|
| Demo account | ✅ | $50,000 virtual funds, free, time-unlimited, simulates real market conditions |
| Standard account | ✅ | $5,000 CAD min. deposit, access to all CFDs and platforms (MT4, Trading Station) |
| Raw ECN account | ❌ | Not offered for Canadian users |
| Islamic account | ✅ | Swap-free on request, available via application and approval |
| Professional account | ❌ | Not available for Canadian retail clients |
| CFD account | ✅ | Yes, all FXCM accounts provide CFD trading access |
| Classic securities account | ❌ | Not available (no real stock trading, only CFDs) |
| Staking/earn account | ❌ | Not available, no crypto staking or earn products |
| Cold storage account | ❌ | Not offered; no direct crypto custody or wallet service |
| Tax-advantaged account | ❌ | Not available (no TFSA/RRSP or tax sheltering options) |
| Accepted base currencies | ✅ | CAD, USD, others (depending on funding method) |
Trader Tip
Trip: Compare the minimum deposit and available platforms for each account type. If you're new or want risk-free practice, the free demo account is ideal—while serious, active traders can benefit from the full suite of tools in the Standard Account. Always confirm that account terms fit your trading goals before funding.
How Does FXCM Compare to Competitors?
| FXCM | Oanda | Moomoo | Webull | |
|---|---|---|---|---|
| Minimum deposit | $5,000 CAD | $0 CAD | $0 CAD | $0 CAD |
| Number of instruments | 100+ (CFDs: Forex, Indices, Commodities, Crypto) | 68+ Forex pairs, Indices & Commodities CFDs, Crypto CFDs | 5,000+ US & CA stocks, ETFs, options | 5,000+ US & CA stocks, ETFs, US options, OTCs |
| Spreads (examples) | EUR/USD: commission-based (min not specified) USD/JPY: commission-based Gold: commission-based | EUR/USD: from 1.4 pips USD/JPY: from 1.4 pips Gold: from $0.25 | Not applicable (commission: from $1.99/trade) | Not applicable (commission: from $2.99/trade) |
| Trading platforms | Trading Station (Web, Desktop, Mobile), MT4 | OANDA Trade (Web, Desktop, Mobile), MT4, TradingView | Proprietary (Web, Mobile, Desktop) | Proprietary (Web, Mobile, Desktop) |
| Regulation | CIRO (Friedberg Direct, Canada) | CIRO (Canada) | CIRO (Canada) | CIRO (Canada) |
| Demo account | ✅ | ✅ | ✅ (Paper Trading) | ✅ (Paper Trading) |
| Copy trading | ❌ | ❌ | ❌ | ❌ |
| Read the review | Read the review Oanda | Read the review Moomoo | Read the review Webull |
USD/JPY: commission-based
Gold: commission-based
USD/JPY: from 1.4 pips
Gold: from $0.25
Customer reviews
FXCM currently has a Trustpilot score of 4.0 out of 5, based on over 2,000 reviews. Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :
- Efficient and responsive customer support
- User-friendly Trading Station platform
- Good range of forex and CFD instruments
- Educational resources and market analysis tools
- Fast account setup and reliable trade execution
En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :
- High minimum deposit requirements for Canadian accounts
- Technical issues or lag during peak trading times
- Inactivity and withdrawal fees for some users
- No copy trading for retail clients
- Limited product range compared to some competitors
Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :
i.G. – 24/05/2024 : “I have always found FXCM’s customer support to be very quick and helpful, especially when I encountered platform questions.”
t.H. – 11/02/2024 : “The Trading Station interface is intuitive, but I’m disappointed by the high deposit requirement just to start trading.”
a.S. – 28/11/2023 : “Overall a good broker with solid execution, but I have experienced some delays in withdrawals and wish they offered more asset classes.”
FAQ
Is FXCM regulated in CA?
Yes, FXCM operates in Canada through Friedberg Direct, which is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) via Friedberg Mercantile Group Ltd. This ensures compliance with Canadian rules and provides a level of investor protection.
What is the minimum deposit on FXCM?
For Canadian clients, the minimum deposit to open a new account is $5,000 CAD. While FXCM’s global minimum may differ by currency and funding method, Canadian residents must meet this higher threshold under Friedberg Direct.
Does FXCM offer a welcome bonus?
No, FXCM does not offer a welcome bonus for Canadian users. Promotions such as bonuses or trading credits are generally not available due to IIROC regulations, which restrict such incentives for brokerage accounts in Canada.
How does leverage work on FXCM?
FXCM provides leverage up to 50:1 for retail forex and CFD trading in Canada, in accordance with IIROC rules. This means you can control a position up to 50 times larger than your actual deposit, but higher leverage increases both potential gains and risks.
How does FXCM make money?
FXCM earns revenue through spreads (the difference between buy and sell prices), commissions charged on certain assets like forex, and other fees such as overnight financing and, in some cases, inactivity fees. Always check the latest fee schedule to understand potential costs.
Who is behind FXCM?
Globally, FXCM is part of the Leucadia (now Jefferies Financial Group) family. In Canada, all brokerage services are offered by Friedberg Direct, a division of Friedberg Mercantile Group Ltd., which is a well-known Canadian investment firm.
When was FXCM launched?
FXCM was founded in 1999 and has grown to become an internationally recognized broker. It has operated in various global markets for over two decades, adapting to regulatory requirements in each region.
Does FXCM offer copy trading or social trading?
No, FXCM does not provide copy trading or social trading features for individual retail clients in Canada. PAMM accounts are only available for Introducing and Referring Brokers, not for direct self-managed accounts.
How can I contact FXCM’s customer service?
You can reach FXCM customer support via phone, email, live web chat, and SMS. Support is available 24 hours a day, five days a week, ensuring you can get help during regular market hours.
Does FXCM offer any promotions or referral programs?
FXCM generally does not offer promotions or referral programs in Canada due to regulatory restrictions. Any incentives or special offers that exist elsewhere may not be available for Canadian residents. Always confirm current offerings directly on the FXCM website or by contacting support.
Is FXCM regulated in CA?
Yes, FXCM operates in Canada through Friedberg Direct, which is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) via Friedberg Mercantile Group Ltd. This ensures compliance with Canadian rules and provides a level of investor protection.
What is the minimum deposit on FXCM?
For Canadian clients, the minimum deposit to open a new account is $5,000 CAD. While FXCM’s global minimum may differ by currency and funding method, Canadian residents must meet this higher threshold under Friedberg Direct.
Does FXCM offer a welcome bonus?
No, FXCM does not offer a welcome bonus for Canadian users. Promotions such as bonuses or trading credits are generally not available due to IIROC regulations, which restrict such incentives for brokerage accounts in Canada.
How does leverage work on FXCM?
FXCM provides leverage up to 50:1 for retail forex and CFD trading in Canada, in accordance with IIROC rules. This means you can control a position up to 50 times larger than your actual deposit, but higher leverage increases both potential gains and risks.
How does FXCM make money?
FXCM earns revenue through spreads (the difference between buy and sell prices), commissions charged on certain assets like forex, and other fees such as overnight financing and, in some cases, inactivity fees. Always check the latest fee schedule to understand potential costs.
Who is behind FXCM?
Globally, FXCM is part of the Leucadia (now Jefferies Financial Group) family. In Canada, all brokerage services are offered by Friedberg Direct, a division of Friedberg Mercantile Group Ltd., which is a well-known Canadian investment firm.
When was FXCM launched?
FXCM was founded in 1999 and has grown to become an internationally recognized broker. It has operated in various global markets for over two decades, adapting to regulatory requirements in each region.
Does FXCM offer copy trading or social trading?
No, FXCM does not provide copy trading or social trading features for individual retail clients in Canada. PAMM accounts are only available for Introducing and Referring Brokers, not for direct self-managed accounts.
How can I contact FXCM’s customer service?
You can reach FXCM customer support via phone, email, live web chat, and SMS. Support is available 24 hours a day, five days a week, ensuring you can get help during regular market hours.
Does FXCM offer any promotions or referral programs?
FXCM generally does not offer promotions or referral programs in Canada due to regulatory restrictions. Any incentives or special offers that exist elsewhere may not be available for Canadian residents. Always confirm current offerings directly on the FXCM website or by contacting support.
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