Trade 39 currency pairs and enjoy competitive spreads and commissions when you open an online forex trading account with FXCM.
If you want fast and easy access to global forex markets, FXCM offers a range of online trading platforms to suit your needs. With three trading platforms and three account types designed specifically for the needs of different investors, FXCM offers flexibility alongside a competitive spread. Traders can buy and sell 39 major and exotic currency pairs, with a leverage of up to 400:1 available. In addition, 24/7 customer support provides increased security.
Since 1999, FXCM has been looking after the needs of forex traders and striving to create the best online trading experience. FXCM Australia is headquartered in Sydney and is part of the FXCM Group, which offers forex trading, CFD trading and a host of other related services to more than 220,000 clients around the world.
Disclaimer: Trading in financial instruments carries various risks, and you can lose more than your capital. This article may contain general advice. You should always seek professional advice when deciding if a product is right for you.
What are the features of FXCM?
- MetaTrader supported. FXCM provides access to global forex markets through three trading platforms: MetaTrader 4 (the most popular trading platform in the world), Trading Station and NinjaTrader. A mobile app is also available to allow you to trade on the go.
- Dealing Desk or No Dealing Desk. FXCM pioneered the No Dealing Desk forex execution model (available on Standard and Active Trader accounts), which provides anonymous execution and increased transparency. However, traditional Dealing Desk execution is also available on Mini accounts.
- Compatible devices. With apps available for download from Google Play and the Apple App Store, FXCM allows you to trade on Android and iOS devices.
- Three accounts. FXCM offers three types of accounts: Mini, Standard and Active Trader accounts. These accounts have different minimum deposits, different spreads and access to different currency pairs. FXCM offers an online wizard to help you choose the account that meets your requirements.
- Spread fee. Spreads vary depending on whether you choose a Mini, Standard or Active Trader account. The AUD/USD spread with FXCM is 1.9 for a Mini account, 0.5 for a Standard account and 0.5 for an Active Trader account.
- Leverage. FXCM offers leverage of up to 400:1.
- Minimum deposit. You can open a Mini account with FXCM for just $50, and you can start trading right away.
- Regulated in Australia. FXCM Australia is regulated by the Australian Securities and Investments Commission.
- Payment methods available. FXCM accepts Visa, Mastercard and Discover credit cards as well as BPAY, electronic funds transfer and bank wire deposits.
What support is available with FXCM?
FXCM operates an impressive online help section through its website, where you can find the answers to a host of frequently asked questions and a range of other useful trading information. This is backed by a dedicated education section with webinars, video tutorials and a range of trading guides. You can also sign up for FXCM University, a free online course full of useful trading tips and knowledge.
If you need help, 24/7 customer support is available via phone, email and live chat.
What are the pros and cons of using FXCM?
Pros
- 24/7 customer service. FXCM offers award-winning customer service 24 hours a day, 7 days a week, ensuring that you can always access help when you need it.
- No Dealing Desk. FXCM offers No Dealing Desk forex execution, providing transparency and competitiveness for traders. However, traditional Dealing Desk execution is also available.
- Free practice account. You can open a free practice account with FXCM to learn more about how to trade. This includes access to a free forex trading guide.
- Education. From webinars to video tutorials, FXCM offers a suite of helpful online tools to help expand your trading knowledge.
Cons
- Account features differ. Make sure you’re aware that the features you can access vary depending on the type of account you open. For example, Mini account holders cannot access the full range of currency pairs and can only use Dealing Desk execution.
How do I apply for an FXCM account?
If you’d like to start trading forex with FXCM, click the “Apply Now” link on this page. You’ll be taken to the FXCM website to complete a quick online application form. You will need to provide the following information:
- Your country of residence
- The type of account you would like to open
- Your preferred trading platform
- Your base currency (AUD, USD or NZD)
- Your full name
- Your date of birth
- Your contact details
- Proof of ID
The application takes around 10 minutes to complete, but you can contact the FXCM customer service team if you need further assistance.
Do you have more questions about FXCM?
How many currency pairs can I trade with FXCM?
You can trade 39 currency pairs if you have a Standard or Active Trader account and 21 pairs if you open a Mini account.
What is the minimum deposit required to open an account?
This varies depending on the type of account you choose:
- Mini: $50
- Standard: $2,000
- Active Trader: $25,000
Does the maximum leverage differ depending on the type of account I open?
Yes, leverage differs as follows:
- Mini: 400:1
- Standard: 100:1
- Active Trader: 100:1
Can I trade via the web or from my mobile device with FXCM?
Yes, all FXCM accounts allow you to trade from your desktop, over the web and via your smartphone or tablet.
What is the FXCM trading contest?
Only available to Mini account holders, traders with the best percentage return can win prizes of up to $10,000.
