Broker of the month: City Index, read our expert and client reviews here
FXCM is an independent New York spread betting and CFD broker regulated by both the Commodity Futures Trading Commission in the United States and the Financial Services Authority in the UK. This came about as they acquired the ODL Group Limited, which operated in the UK in 2009. They have offices in other countries too and are regulated and licenced in each. They have more than 200,000 live trading accounts and with this acquisition they also allowed British customers to use a no dealing desk for Forex markets.
FXCM Spreads , (which stands for Forex Capital Markets), is based in America and a spread betting brokers comparison shows they are one of the largest financial spreadbetting brokers.
FXCM they use their own MT4, (MetaTrader4), platform. This needs to be downloaded but is intuitive and user friendly and can be customised to fit requirements. You can choose from ‘Low Spreads (Dealing Desk Execution) or Standard Spreads (No Dealing Desk Execution). There is also a downloadable Trading Station Desktop platform which is similar to the online version – FXCM’s Trading Station Web platform.
FXCM Trading Station is a mobile app for Apple, Android, Blackberry and Windows devices and works with pinch and zoom too. Like IG, they are one of only very few to cater to all types of device.
They offer their clients white label solutions of custom branding of front end client terminal and multiple front and back office solutions, Trading Station, MT4, and custom GUIs.
When founded in 1999 they were a Forex company, (one of the earliest to do online forex trading), and who now deal in commodities, equities, options, stock indices, CFDs and spread betting trading.
Like a few similar financial spread betting brokers such as IG and InterTrader, FXCM operate a no re-quoting policy, so you should always be able to get what you wanted for the price you hoped. On the other hand, unlike many traders they also have a no dealing desk policy, so you are not dealing with what may feel like a conflict of interest.
There is also the chance to open and use a practice account, something usually more common in forex trading than spread betting, so you can try out the spreads and test their platform for thirty days.
FXCM’s spreads are said to be ‘tight’ – it can be one point. One point, however, is quite normal when you compare spread betting brokers these days, and does not make them as competitive as Capital Spreads or IG.
A neat little application is Marketscope. This is a charting app which will send an alert when the conditions specified are met, and it also lets customers place their trade direct from there.
Where other financial spread betting companies offer spread betting on both local and foreign shares, FXCM only operate spread betting in Britain and use sterling as the only currency, but you still have a wide range of choice to trade, from forex to oil, gold and stock indices.
Featured Spread Betting Brokers
|Best for traders with large accounts. A solid all rounder with institutional pedigree.||Best for traders with large accounts. A solid all rounder with institutional pedigree.||Best for experienced traders with large range of markets and tight spreads and cryptocurrencies|
| Visit City Index
Read Expert & Client City Index Reviews
| Visit ETX Capital
Read Expert & 30+ In Depth Client ETX Capital Reviews
| Visit IG
Read Expert & 3+ Client IG Reviews
Submit your review