Forex Articles

Review Of The FXCM Forex Trading App

Forex Capital Markets also understood as FXCM, was established in London in 1999. It is a major international online forex and contracts for difference (CFD) broker that offers spread betting and other services. The broker gives its customers unique trading tools, private data, and top-notch educational resources.

The FXCM also gives retail brokers, emerging market banks, and small hedge funds access to wholesale execution and liquidity through FXCM Pro. In contrast, more considerable funds can use FXCM Prime to get high-quality brokerage services from FXCM.

You can choose from several great trading platforms. You can copy trading through FXCM’s social trading platform and automated trading through FXCM Apps and MetaTrader4 as well (MT4). To trade assets other than forex, FXCM also allows you to trade CFDs on shares, metals, and oil. You can also trade on commodities, indices, and cryptocurrencies.

The best for

⦁ Traders who like to use advanced trading platforms and tools.
⦁ Traders who do a lot of business.
⦁ Traders who need better customer service.

Pros

⦁ Multiple trading platforms, such as MT4.
⦁ The best pricing and execution services
⦁ a lot of educational resources

Cons

⦁ Doesn’t take clients from the US.

There are FXCM assets that can be sold

There are over 250 different types of assets that you can trade with FXCM. These assets include forex currency pairs, CFDs on extensive company stocks, the major world stock indices, and the most popular cryptocurrencies. You can open a live account with as little as $50. Leverage ratios and margin requirements depend on the type of asset you want to trade. FXCM has a list of support that you can change. These assets are:

Major and minor currencies can be traded on FXCM. There is a maximum leverage ratio of 30:1 for significant coins and 20:1 for nonmajor currencies, which means you can change these currencies with a lot of money. FXCM has a forex training course and a primer on the currency market to help you learn if you’re new to forex trading.

It is possible to trade shares at FXCM through contracts for difference (CFDs) on the top international stocks from the US (stocks), UK (stocks), Australia, Europe (stocks), and Hong Kong (stocks). If you want to start trading, you only need to put up 5% of your money as a deposit to get started. Shares of Tesla Motors Inc. (NASDAQ: TSLA), GameStop (NYSE: GME), Apple Inc. (NASDAQ: AAPL), and Alphabet Class C are all on the market (NASDAQ: GOOG).

The Dow Jones 30, S&P 500, Nasdaq 100, French CAC 40, German DAX 30, and Japanese Nikkei 225 are some indices you can trade CFDs on. Also, you can change the VIX volatility index, which shows how volatile things are. Silver, gold, copper, US WTI Light Sweet Crude futures, and Natural Gas futures are some of the commodities that you can buy and sell with a CFD. It depends on the type of commodity and the contract you are trading.

Cryptocurrency CFDs on Bitcoin, Ethereum, Litecoin, Bitcoin Cash, CryptoMajor, EOS, and Stellar Lumens can be traded through FXCM. They can be traded against the US dollar. It’s also possible to buy and sell small amounts of cryptocurrency, with a minimum of 1% of bitcoin and 10% of bitcoin cash or ethereum for trades.

If you want to buy Litecoin, EOS, or Stellar Lumens, you need to buy a lot of contracts at the same time. It would cost $180 to buy one warranty of Litecoin if it was trading at $180. FXCM allows clients to trade baskets on certain assets, like stocks and bonds. This is how the Dow Jones FXCM Dollar Index works: It’s made up of $10,000 in four different currencies. The Australian dollar, Japanese yen, EU euro, and British pound sterling are included.

The “Yen index” or JPYBasket is made up of 200,000 Australian, Canadian, and US dollars, as well as the EU euro and the British pound. It’s made up of 200,000 of each. In the Emerging Markets Index basket, you’ll find the equivalent of $2,500 worth of currencies from China, Turkey, Mexico, and South Africa.

FXCM Pricing

FXCM is a broker that doesn’t charge any fees. It has very low spreads on CFDs and forex currency pairs. It’s worth it to trade more than $10 million a month to get a rebate for the trades you make that are deposited into your account the next month.

According to a five-tier system, the rebates are paid out. This is the first level. It pays $5 per million for trades of up to $10 to $25 million in a month, and the 5th level pays $25 per million for at least $300 million transactions.

Dealing spreads on some instruments can vary greatly, depending on the contract, time of day, and other factors. FXCM’s website has shallow practical dealing spaces. You can think of it as 2/10 to 4/10 of one pip for EUR/USD. ADVFN named FXCM the best zero-commission broker in March 2021 because the spreads were so low that it didn’t cost anyone to trade.

Slippage, or the difference in an exchange rate that isn’t what was set in a stop order or market order, can be both good and bad. Slippage is terrible when the trader loses money. When it’s good, the trader gets a better deal than the market is offering. When FXCM looked at its slippage for July 2021, it said its slippage was +87 percent positive or zero.

This app is for people who use FXCM on their phones

The broker’s trading platform, called “Trading Station,” is available for iPhone and Android phones. The app has a simple, easy-to-use interface for entering orders and getting confirmations and powerful trading tools and charts with research. Even though FXCM does not support the popular MetaTrader4 trading platform, you can still get the MT4 mobile app for iPhone and Android.

Users of FXCM get a lot of things

With an FXCM account, you can trade a lot more easily. Open a free demo account if you want to start practicing without putting money into your account first. This lets you check out the broker’s research and educational resources and then practice trading for real.

FXCM Trading Station, MetaTrader 4, NinjaTrader, ZuluTrade, Capitalise AI, and TradingView are some of the trading platforms that you can use to trade. A social trading platform lets you copy the actions of other traders in real-time. You can also use it to follow other traders’ moves.

New traders can use FXCM’s many educational and research resources, as well as its video library, to learn about a wide range of trading topics. Advanced traders can use FXCM’s API trading, using four free APIs to connect to the FXCM server. REST API, FIX, Java, and a ForexConnect API. You can find out more about the broker’s automated trading tools by clicking here.

So can institutions, retail brokers, banks, and hedge funds. FXCM Pro is also suitable for these types of businesses. This high-end broking service gives institutional clients access to the forex and CFD markets at great prices and low fees.

Previous post
Review Of The Forex Trading Platform And Broker ThinkMarkets
Next post
The Forex Market’s Impact On The 5G Push

Leave a Reply