Their relationships with tier 1 banks and non-bank liquidity providers, prime broker relationships, and technology vendors can provide customers with market access on an unrivalled scale. FXCM does provide as many tradable assets as some other major forex and CFD brokers. Still, this leading online broker ranks highly among its competitors due to its impressive number of platform choices, quality research, helpful educational resources and tight dealing spreads. Novice traders can take advantage of FXCM’s extensive educational and research resources, as well as its video library that covers a wealth of trading topics.
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It is available as a windows desktop downloadable application and also as mobile app for iOS and Android devices. I prefer the desktop platform as it has the most functionality and supports automated trading. I think MT4 is an excellent choice of platform for anyone who wants to develop their own trading strategies for both manual and automated trading. It is very easy to use with a fully customisable user interface that makes trading online a breeze.
Does FXCM offer educational tools for investors?
With FXCM, you can get trading signals delivered daily to your mobile. Geo-political events as well as many other macroeconomic factors influence price action and create volatility. You can sign up to receive SMS Trade Alerts (powered by the brilliant https://traderoom.info/fxcm-an-overview/ Autochartist) to help you spot potential trading opportunities. The FXCM economic calendar lists the global economic events that affect the prices of trading instruments. You can search for events and compare analysts’ consensus with previous records.
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Webinars are archived and cover topics related to trading platforms and advanced materials, such as Best Practices for Creating an Algo Trading System. In a section labeled ‘insights,’ FXCM provides a range of in-depth articles covering themes related to the global economy, trading strategies, technical indicators, and a glossary. FXCM offers demo accounts for the Trading Station and MetaTrader 4 platforms. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money.
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Why is it important to know where your broker subsidiary (entity) is regulated?
- It allows you to trade without any additional software, only an internet connection is required.
- In the case of the chat, one drawback is that you must fill out a form before reaching an agent.
- Your satisfaction is our priority, and we’re always here to support you.
Trading cryptocurrency CFDs with FXCM appeals to many traders as they can control their position sizes with small contract sizes. For example, a single contract of BTC/USD at FXCM is the same as one percent of the underlying price of Bitcoin. FXCM users can buy and sell 40 different currency pairs including majors, minors, and exotics. These include AUD/CAD, EUR/JPY, GBP/JPY, USD/JPY, EUR/USD, USD/TRY, just to name a few. Because CFD trades involve a contract to exchange the difference between the opening and closing price of the trade, investors can trade on both bullish and bearish markets.
Slippage, or the unexpected difference in an exchange rate specified in a stop order or market order, can be either negative or positive. When the trader loses money, slippage is negative, whereas when positive, the trader receives a fill at a better rate than the prevailing market. FXCM’s slippage was reported as +87% positive or zero in its July 2021 Slippage Statistics.
That way, users can specify what they are interested in, and receive news accordingly. FXCM’s daily newsletter, Before the Bell, provides helpful info and daily trading ideas based on the market analysis of FXCM’s experts. There’s a market scanner feature that uses technical indicators to show traders when it’s a good opportunity to buy/sell.
As with desktop and web, the interface is not the most intuitive but the MT4 app offers an above-average range of features. We judged the trading related fees (spreads, commissions and swaps) for the Standard Account at FXCM to be average and in some cases better than average for the industry. Some account-related fees such as the inactive fee are more costly than average. We tested the spreads at FXCM across different asset classes using the Trading Station platform at 8 a.m. GMT is the London open when there is high liquidity in the forex market and tighter spreads in currency pairs.
This type of trading allows you to copy the trades of experienced traders, making it a great choice for beginner traders wanting to learn the trading strategies of successful traders. The feature gives users the ability of traders to https://traderoom.info/ share ideas and strategies and help other traders. Zulu Trader has over 1 million users, making it one of the larger social trading communities available. Several trading articles are available to help new traders learn the ropes.