FXCM – Forex Capital Markets Review

FXCM – Forex Capital Markets Review

Since its establishment in 1999, Forex Capital Markets, commonly known as FXCM, has experienced exponential growth and is now considered one of the most reputable and credible forex brokers in the world. FXCM Australia Pty. Limited has its headquarters located in Sydney, Australia however it now has offices operating in Hong Kong, France, Italy, Germany, Greece as well as several offices across the United States. The FX trading software the company offers to its clients is regarded as one of the best in the industry. In addition, FXCM aims to further distinguish itself by offering their users a discounted brokerage division, FXCM Micro, as well as its regular services provided under FXCMs Standard. As FXCM is one of the largest and most well-regarded brokers in the world, we’ve taken a closer look at the company in order to establish what exactly the company is offering to their clients and who it might be best suited towards.  


FXCM has won numerous prestigious awards in previous years, including:

  • 2015 FX Street– Best Sell-Side Analysis Contributor
  • 2014 Investment Trends Australia CFD Report- Best Educational Material
  • 2014 Investment Trends Australia CFD Report- Best Platform Features
  • 2014 Investment Trends Australia CFD Report- Best Research Tools
  • 2013 Investment Trends Australia CFD Report- Best Research Tools
  • 2013 Investment Trends Australia FX Report- Highest Overall Client Satisfaction
  • 2013 Investment Trends Australia FX Report- Best Value for Money
  • 2013 Investment Trends Australia FX Report- Best Educational Materials


Trading with FXCM

FXCM offers its clients their state of the art proprietary trading platform, the FX Trading Station, which is where the majority of foreign exchange trading takes place within the company. The FX Trading Station is highly regarded as one of the best trading software’s in the industry, with the company striving to provide their clients with the most cutting edge technology and added convenience of trading directly on the charts. Featured extras that the platform provides include streaming quotes, easy customisation, extensive reporting, one-click trading and many other features, all of which can be easily used by traders of all skill levels. FXCM also offers a Demo account for new users to familiarise themselves with the FX Trading Station as well as $50,000 of free money for clients to practise their trades with.


FXCM Trading Platforms

In addition to the FX Trading Station, FXCM also offer a variety of other trading platforms for their clients to choose from. These include MetaTrader4, NinjaTrader, Mirror Trader and ZuluTrade.


1) MetaTrader4

FXCM has introduced upgraded benefits to the company’s MetaTrader4 platform, in order to for it to integrate seamlessly into their ‘no dealing desk’ (NDD) forex execution. These upgrades have now resulted in no automated account syncs and no third party bridges. The new FXCM MetaTrader4 features have been combined with the continued benefits of no dealing desk resulting in the following benefits:

  • Clients are able to set stop loss and take profit orders while opening a new trade
  • 0.01 Micro Lots- Allows clients to trade more precise lot sizes to assist in tighter risk management
  • Clients are able to use partially closed positions to assist them in controlling when and how much of a position they wish to close
  • Clients are able to remain anonymous in forex trading as price providers can not see your SL, TP or pending orders
  • No trading conflict of interest between the broker and the client
  • No trading restrictions with no dealing desk execution- clients are able to place pending orders even inside the spread
  • Scalping permitted with the companies NDD offering


2) Mirror Trader

FXCMs trading platform Mirror Trader aims to capitalise on automated trading, which is an increasing trend amongst forex traders. Mirror Trader allows traders to follow and copy any one of the hundreds of strategies produced by FXCM over an extensive range of currency pairs and market conditions. Mirror Trader works in three steps:

  1. Determine your trading objective
  2. Locate a suitable trading strategy
  3. Turn on automated trading

This trading platform allows users to remain in complete control of their account by being able to switch to automated trading whenever they please and there are no performance or maintenance fees associated with copying trades on Mirror Trade.


3) Ninja Trader

Ninja Trader is comprised of two characteristics that assist users in making their trading as simple and efficient as possible, those being:

  1. The Strategy Wizard – The Strategy Wizard assists traders who wish to build their own automated strategies by having the user simply define the conditions they want met, followed by the action they wish to occur when those specified conditions are triggered within the platform.
  2. The Market Analyser – The Market Analyser is a real-time quote sheet that provides users with an overall view of the current market conditions and any trading opportunities available at the time. The platform is then highly customisable to suit any traders preferences.


4) ZuluTrade

ZuluTrade allows users to subscribe to signals from other traders who have already done the hard work for you. When a signal provider places a trade within their account, all traders that have selected that particular provider will then have that trade triggered to them to execute. The ZuluTrade engine then automatically places these trades with FXCM, requiring no human intervention. The platform offers hundreds of signal providers for clients to choose from. Signal providers receive a compensation for each lot that is traded from their signals and therefore are incentivised to have consistently good performance.


FXCM Summary

FXCM has continually proven itself to be one of the most highly regarded forex brokers in the world. The company offers their clients a variety of trading platforms to suit their preferences as well as their own award winning, proprietary platform, the FX Trading Station. The company prides themselves on their No Dealing Desk forex execution which fills orders at the best available price, streamed directly from their liquidity providers. FXCM is regulated with ASIC in Australia. FXCM is a highly regarded Australian broker which continually strives to ensure that they are providing the most updated trading platforms to facilitate for all traders.