FXCM was founded in 1999 and it began as the pioneer for online forex offerings for retail traders. The company has its headquarters in London and later grew to have many international offices. However, the popularity slowly began to fade away as the broker could not keep up with the developments on the market.

FXCM is a subsidiary of Jefferies Financial Group Inc. which is formerly known as Leucadia. The broker has entities in many jurisdictions which is confusing for so many traders because of the hard regulation of the sector and because there is still not much clarity about the regulation of the crypto industry. FXCM has an active trader account offering where the low commission rates and average spreads make up for very expensive pricing for high volume traders.

All of the standard accounts at FXCM are at 1.3 pips on pairs such as the EUR/USD and the USD/JPY. The Active trader accounts are only available for clients that deposit at least $25,000 which is an enormous sum of money. They do have a lower commission rate but the Active Trader accounts are charged about 4 pounds per a standard round turn-out.

The standard account holders are charged only the prevailing spreads so the traders realized the spread on each trade whereas the Active Trader accounts are charged a commission per single trade. The FXCM discounted its mini account later in 2018 because the customers were not really happy with it. Some of the accounts include a markup as an intermediary such as an introducing broker.

The main trading platform doesn’t really do a good job to cater to the entire spectrum of forex traders. It offers a Marketscope 2.0 charting feature which is like a totally new platform so many traders didn’t respond well to this change. The web version is not so great as well since there were many bugs reported and the links were not leading anywhere. The NinjaTrader platform that the FXCM platform has to offer includes many trading tools which are confusing and there are also automated trading capabilities where you can also look for indicators using the NinjaScripts.



The broker didn’t receive too many positive comments and it seems as it is not so popular as they claim to be on their website. Also, the reviews were not very positive since there were many disappointed users out there.