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FXCM Review 2020

FXCM is a popular UK broker that has been operating in forex markets since 1999. In our FXCM review 2020 we’ll take a close look at the crypto trading service that this brand provides. You’ll get to understand why FXCM is a great place for trading anything from Bitcoin to Ethereum and Ripple. We will also show you why the brand’s financial spread betting service is so popular. Plus we’ll reveal why customers in the UK, Canada, Australia and New Zealand will love this broker. So keep reading our FXCM review to discover what could be your new favourite crypto trading site.

Pros & Cons of FXCM
  • Easy way to trade major cryptocurrencies
  • Responsive customer support on live chat, email and phone
  • Zero commissions on crypto trades
  • User-friendly trading platforms and apps
  • Not available for residents of the USA

Security, Usability, Look & Feel

Our FXCM review 2020 found that this brand had put together a good-looking and user-friendly trading site. It features a calm and professional design that makes it easy to enjoy crypto trading. You can simply click on the markets tab in the navigation bar to find the brand’s featured cryptocurrencies. From here you can simply click through to buy and sell your cryptocurrencies.

Our FXCM review found that the broker has enjoyed a reputable service in the rest of the world. The broker is keen to show that it offers a professional service with plenty of disclosures about its financial activity.

We also found that the FXCM site loaded quickly on a variety of devices. The brand features a range of trading platforms such as MetaTrader 4, Trading Station and Ninja Trader. All of these platforms are simpler than many kinds of crypto mining software and can be used effectively to build your investment portfolio.

Plus our FXCM review 2020 found that the brand has featured some excellent trading apps. These include MetaTrader 4 apps, Trading Station Desktop apps and even some standalone apps that can all be customised to improve your trading experience on Android and iOS devices.

How To Trade

It should be easy to get started with your crypto trading at FXCM. Just click on the Open Account tab at the top right of the brand’s website. From here you will have to state your country of residence, email address and telephone number. You will also have to pick whether you want to use the Trading Station or MetaTrader 4 trading platforms, along with what account type you’d prefer.

From here you will need to submit some more personal information and contact information. You may also be required to provide information regarding your employment and financial history. But once your account has been verified, you will then be free to make your first deposits. If you deposit with a debit or credit card, you should find that the money will almost instantly be added to your trading account.

Then it’s just a case of using the tools on the FXCM trading platforms to hunt down the best value cryptocurrencies. Don’t forget to use the FXCM Cryptocurrency Basket feature for a great way to gain more solidity on these famously volatile investments.

Payments

Our FXCM review 2020 discovered that the brand gives you a decent variety of funding options so that you can safely and efficiently make deposits into your account. Once you have registered your account, you can simply click on the deposit link and add funds with one of the featured payment methods.

These include popular credit and debit card brands such as Visa, MasterCard and Discover. All of these payment options provide you with the quickest ways of making deposits. However, we should note that FXCM also allows you to deposit via EFT/bank wire. There is also the provision for payments with alternative deposit options such as Skrill, Neteller, Klarna and Rapid Transfer. Our FXCM review found that you won’t be charged any fees for making deposits with this broker.

FXCM allows you to make withdrawals to either a card or via bank transfer. While card withdrawals are free, you might find that you will be charged up to $40 for bank transfer withdrawals. This will depend on what country you are resident in, and what currency you are making your withdrawal request in.

Fees

There have been many positive FXCM reviews as a result of the brand’s famously low fees. Not only are the broker’s fees for trading cost-effective, but our FXCM review 2020 also found that the brand has impressively low CFD fees. The only real downside in terms of the brand’s fees was the fact that you’ll be charged $50 if you fail to use your account within one year.

All of the trading fees will be included within the spread, and this means that you can enjoy trading at FXCM without incurring large commission costs. The brand had fair fees for trading on forex, and we found that the CFD trading costs were among the lowest in the industry.

It’s also important to note that our FXCM review found that there was a pleasing lack of fees for activities outside of trading. This means that there are no fees for account maintenance or making deposits – if only some cloud mining sites could follow this pricing structure.

Customer Service

Customer support is an incredibly important part of any FXCM review. Thankfully the online broker gives you many easy ways that you can get in touch with its customer support team. Many people will simply use the live chat service that offers the most efficient way to get your queries resolved.

However, it’s important to note that we found other contact methods available. These included a dedicated email support address and the brand also featured an SMS customer service option. Our FXCM review 2020 was also impressed to discover that the brand features a range of freephone customer support numbers. These cover a range of countries including the UK, Canada, Australia and New Zealand. The brand’s customer support office is open 24 hours a day, five days a week.

The only major issue that we found was that there didn’t seem to be any kind of FAQ section on the FXCM site. But thankfully, the brand’s live chat was able to resolve all of our queries without any problems.

License & Security

Any decent FXCM review 2020 will let you know how the broker is licensed and regulated. Such information will tell you a lot about how safe you will be when you use the brand’s services. So we were pleased to discover that FXCM was regulated by all of the relevant authorities in its countries of operation.

UK customers will be glad to know that FXCM is fully regulated by the Financial Conduct Authority. Plus the online broker is regulated everywhere from Australia to South Africa. This means that the broker must meet strict financial standards and it will have to file regular reports to the financial authorities.

Your funds will be safe at FXCM as your account is segregated according to FCA client money rules and cannot be used to pay other creditors. Plus with a fully encrypted website, you’ll know that your personal data will stay in safe hands.

Reputation and Customer Feedback

FXCM hit the headlines a few years ago when its former parent company filed for bankruptcy and the brand exited the USA financial markets. However, all of this is in the past and the FXCM brand is now under the ownership of Leucadia National Corporation. Since these changes, FXCM has won a number of awards such as Best Trading Tools, Largest Forex Provider, Best Retail Broker Execution and Best Global Forex Trading Platform.

FXCM Crypto

FXCM Cryptocurrencies

Many online brokers now allow customers to trade cryptocurrencies. This is because cryptos often feature plenty of volatility which means that they can be a great way to add plenty of diversity to your investment portfolio.

Our FXCM review 2020 found that this broker was quick to realise the benefits of crypto trading. Alongside FXCM Bitcoin trades, the brand allows you to buy and trade an impressive range of other cryptocurrencies. These include the likes of Ethereum, LiteCoin, Bitcoin Cash, Ripple, CryptoMajor, EOS and XLM.

It was the tight Bitcoin spreads that really impressed us in our FXCM review, and it’s worth noting that there is up to 2:1 effective leverage possible on this site. This means that you don’t buy the actual cryptos, but trade on their value. Other impressive features included the automated trading service, and the fact that you don’t need to worry about using crypto wallets at FXCM.

Plus we should mention the brand’s Cryptocurrency Basket product that combines the leading cryptocurrencies into one instrument. This will instantly reflect all of the changes in the world’s top digital currencies, and it can be a great way to flatten out some of the volatility common amongst cryptocurrencies. All in all, our FXCM review found that this was a great place to come for crypto trading.

Jurisdictions & Limits

While FXCM is based in London, it’s important to note that this is a truly international online broker. This means that you could easily use this service in the UK, Canada, Australia or New Zealand. However, our FXCM review 2020 found that this brand hasn’t been operating in the USA for the past few years.

It’s important to note that different aspects of the FXCM broker service function differently in some countries compared to others. This is definitely true of the FXCM financial spread betting service. You’ll probably find that you can only use this product if you are based either in the UK or Ireland.

We should also mention the fact that the minimum deposits that you are allowed to make may vary according to the country that you are resident in. However, you should find that you can trade all of the major cryptos with ease at the FXCM site.

Other Trading

There’s plenty more at this online broker than just the FXCM crypto trading service. This is because our FXCM review 2020 found that the brand specialises in everything from spread betting shares and forex trading to commodities like oil and gold. It’s an excellent choice if you are looking to create a diverse trading portfolio.

It’s important to note that FXCM is a little different to many other online brokers. This is because it gives you the chance to trade currency pairs, and its financial spread betting service means that customers can take advantage of the market without having to buy any assets. Similarly, our FXCM review 2020 found that its CFD trading product offers you the chance to trade on price movements without buying the actual product.

The broker offers a quality forex trading service on all major currencies like EUR, USD, JPY, GBP and so on. You’ll find easy ways to trade shares in the world’s biggest companies such as Apple, Amazon, Google, Tesla, Netflix and AT&T. Popular commodities found in our FXCM review included the likes of oil, copper, gas and agricultural products. We should also note that FXCM’s spread betting service covers all major indices such as GER30, US30, SPX500, NAS100, ES35, FRA0, JPN225 and more.

Overall Conclusion

Our FXCM review 2020 has found that this brand offers you an easy way to enjoy trading all of the biggest cryptocurrencies. Whether you want to buy Bitcoin or sell Ethereum, you’ll find that FXCM offers you a safe, legal and fair way to do so. Plus we were glad to see that the site features low commission fees, safe deposit methods and is regulated by all of the relevant financial authorities.

The only real downside we could find was that some potential investors might be put off by the more unusual financial spread betting practices that the brand employs. Despite these reservations, we were truly impressed with what we discovered in our FXCM review and wouldn’t hesitate to recommend this site for anybody with an interest in crypto trading.

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