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
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.
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.
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 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.
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.
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.