FXCM Discussion

Please feel free to use this thread to post any questions about FXCM.

Jason Rogers

Please note the holiday hours for certain CFD products next week. All times are in New York EST.

Have a great weekend!

do you have ecn?
is it regulated?

Hi trade4cash,

Not to come across as poaching your posts, but what is your own definition of ECN, i’m curious.

I’ll leave it there.

True ECN brokers, on the other hand, allow the orders of their clients to interact with the orders of other participants in the ECN.

Participants could be banks, retail traders, hedge funds, and even other brokers. In essence, participants trade against each other by offering their best bid and ask prices.

ECNs also allow their clients to see the “Depth of Market.” Depth of Market displays where the buy and sell orders of other market participants are. Because of the nature ECN, it is very difficult to slap on a fixed mark-up so ECN brokers usually get compensated through a small COMMISSION.

Hi trade4cash,

FXCM offers No Dealing Desk forex execution in standard accounts. You may hear it referred to as NDD.

How does our NDD model work?

Multiple liquidity providers compete to provide the best prices on FXCM’s NDD execution model. Each liquidity provider streams through a direct feed of executable buy and sell prices to FXCM. FXCM’s No Dealing Desk Price Engine selects the best buy price and the best sell price, which result in the best available spread. There is no markup added to FXCM’s Standard No Dealing Desk account type, making our spreads transparent and some of the lowest in the industry.

When you place an order, each order is offset one for one with a liquidity provider. This eliminates the conflict of interest between us and the trader. To the liquidity provider, all orders appear as Market Orders from FXCM and contain no information about the trader. Since your stops, limits, and your entry orders are invisible to these price providers, we create an environment free of price manipulation. When we combine this with no re-quote trading you have the opportunity to confidently trade all market conditions, even during key news events.

FXCM is compensated by a commission paid when opening and closing the trade.

For traders wanting to start with a smaller account balance, we offer traditional dealing desk model where FXCM acts as the counterparty and determines the prices and spreads. It’s worth noting that FXCM uses the same base price for DD execution on Mini accounts (before adding a fixed markup) as the base price we use for our NDD execution (before adding the commission). That’s a key reason you can have confidence trading with FXCM regardless of the account type you choose.

FXCM is regulated in the United Kingdom by the FCA and in Australia by ASIC.


*Risk Warning: Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.


I wasn’t asking for an online definition - but your own and why you [I]really[/I] need it…

Please note the holiday hours for certain CFD products next week due to the Memorial Day and Dragon Boat Festival holidays. All times are in New York EST.

Weekly forex trading hours remain the same.

Hi. I’m new to forex. But, wasn’t FXCM banned by the NFA in America for basically manipulation. Having any of their representative allowed on this forum is sketchy.

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If you are new to Forex then I suggest you do your homework before drawing hasty conclusions. That issue has been covered thoroughly before. FXCM still exists outside the US and is still a sizeable concern.

Jason has been a reliable and extremely helpful rep here for along time. So what is wrong with him informing changed holiday trading times for their clients here?

Whether one should trade with FXCM or any other broker is a decision any trader makes based on their own research.

How is this “hasty conclusions”. I could link you hundreds of articles about it.

I’m on this part of the forum to look for a good forex broker. So, I’m doing my own my research. Just saying. From a newbie perspective who only have stock trading background, would I trust my money with someone who have been banned from a whole country? That’s crazy. :58:

I’m not afraid to call out brokers who have a history of scams. In the end, it’s up to the individual to make their own judgement. It’s your own money, do what you want.

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This particular thread is for answering peoples’ questions about FXCM. Is it not about finding you a good broker. Show some respect for that and do your searching in the proper place.

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Hi…I am a newbie,am in South Africa. I have been demo trading for 3 months now and am seeing progress. My question is what is the minimum amount required in opening an account with FXCM? I don’t have much capital,I just want to attach my emotions with real money to prepare myself psychologically…

I am sure Jason will give you more detail, but in the meantime you can check their UK web page:

There it states a mini account starts with £50 (Note: that’s a dealing desk execution account).

If you don’t mind me asking, if you have a demo account already, why not open an account with that same company? Are their minimum balances too high?

Hi SeeSawSin,

Welcome to the forum and to forex trading.

I want you to know we continue to stand by the quality of our trade execution in general and our No Dealing Desk (NDD) forex pricing in particular. The results of our recent execution study explain why.

FXCM recently completed a study that examined the quality of execution for FXCM LTD client orders on No Dealing Desk (NDD) forex execution versus the three largest FX trading venues globally, venues widely considered to represent the benchmark for reliable FX pricing. The results of this study show FXCM LTD retail client order prices to be better than the Futures Market and Interbank Market prices for FX (1).

FXCM LTD was equal to or better than the quoted futures price 81.34% of the time compared to the spot equivalent quoted futures prices on the CME leading to potential savings of $42,529,156 for FXCM LTD clients.

FXCM LTD was equal to or better than the quoted interbank market price 94.83% of the time compared to the spot equivalent quoted interbank market price leading to potential savings of $114,588,455 for FXCM LTD clients.

You can find further details in the full presentation of the study and the in-depth FAQ.

We’re proud to service over 129,000 active accounts as of our latest metrics release from April 2017, and our clients will continue to receive the same level quality of execution, products, and customer support they have come to expect over the years.


I The study does not in away way attempt to represent that FXCM maintains a particular capacity or performance level. The figures in this study are provided for information purposes only, and are not intended for trading purposes or advice. FXCM is not liable for any information errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. Past results are not indicative of future performance.

Material Assumptions
FXCM’s Retail Clients are defined as individual, joint, and corporate accounts trading on our retail price stream.

The comparison to each of the Futures and Interbank data is made at the time that the FXCM client order is executed. Normal market slippage and slippage due to rejections by liquidity providers are already included by the time the FXCM client order is executed. However, there is an assumption that there is no slippage on the Futures or Interbank market data.

In order to maintain consistency, Futures Market data and Interbank data used the same acceptable ranges in market trades. The summary of findings is based on the assumption that the maximum acceptable difference between the FXCM price and the Interbank/Futures market price is 5 pips in either direction.

Fees that a participant would pay on the Futures or Interbank market, such as CME Exchange Fees, FCM Fees, Clearing Fees, and other commissions, were excluded from the study. Similarly, FXCM Commissions are excluded from the study.[/I]

On a positive note, good to see we’re still the first broker traders think about :wink:

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Hi Piporex,

Welcome to the forum Piporex! :slight_smile: And great to hear you are seeing progress.

Manxx is correct, you can start with as little as £50 (or $50) in the mini account. In case you’re not aware, we also have a local affiliate office in Johannesburg with on-site seminars (in Johannesburg and Pretoria) you’re welcome to attend if you’re nearby. The South Africa website is https://www.fxcm.za.com

Please note that you should not speculate with capital that you cannot afford to lose.


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Hello Jason,

Does the same apply (opening a mini account for $50) in Europe? Specifically Belgium and Poland.

Thanks in advance

Hello Jason,

Does the same apply (opening a mini account for $50) in Europe? Specifically Belgium and Poland.

Thanks in advance

Hi oceanmen,

Yes, the same applies in Europe, including Belgium and Poland. The minimum deposit for opening the mini account is 50 units of the currency your account is denominated in. Accounts can be denominated in USD, EUR, GBP, or CHF, and you can select the account’s currency denomination when completing the account application.


Hello Everyone,

FXCM’s quarterly spreads data was released yesterday, and for Q1 2017 EUR/USD and USD/JPY had an average spread of 0.2 and 0.4 pips respectively during peak trading hours on standard accounts with No Dealing Desk execution. 70% of EUR/USD and 61% of USD/JPY volume occurred during peak hours which are from 6 am to 6 pm GMT.

You can find the full report listing spread data for all forex pairs and CFDs by clicking on the following link
FXCM_spreads-report_ltd_2017Q1.pdf (135.6 KB)

The report compiles trading data from FXCMs Standard accounts for Q1 2017.


Disclaimer: The information provided is historical in nature and does not imply that FXCM maintains a particular capacity or performance level. Past results are not indicative of future performance. The price at which an order is executed does not negate the high level of risk involved with forex trading. Trading could result in losses regardless of the pricing quality of opening or closing transactions. Spreads Data comes from all available liquidity providers liquidity providers subject to change.​

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