FXCM in UK

Commercial Content Broker Support
#1

Hi Jason

I am new to forex and looking to open an account, and thought about FXCM. I would want to start with micro lots and I wonder if you could advise me with what type of account I should go for etc… which is better for me? I am not looking to start with too much money at the beginning.

Sorry I asked a silly question here, but wasn’t too easy to search in the forum, so if there are some good pointers already, I would appreciate it

AJ

#2

Hi AJ,

First, it’s worth noting that all FXCM accounts types (Mini, Standard and Active Trader) allow you to trade micro lots, so you can risk as little as 10 cents per pip.

If you want to start with less than $2000, then the Mini account is the account type for you. You can open a Mini account with as little as $50.

Also, the subject of your post says “FXCM in UK”. Do you live in the UK? Or are you asking about our UK-regulated entity?

#3

Yes I live in the UK so thats why I was asking. I assumed I had to go with the UK-regulated entity, is that not the case? What difference does it make?

#4

FXCM Inc. has companies registered with many of the most respected regulatory bodies in the world. FXCM is regulated in the UK by the Financial Conduct Authority (“FCA”), registration number 217689. Additionally, FXCM is regulated in the United States, Germany, Italy, France, Hong Kong, Australia, and Japan.

Ours clients living in countries where we are regulated must trade through their local FXCM entity. Since I live in the US, I trade through FXCM US. Since you live in the UK, you would trade through FXCM UK. This provides you with many advantages compared to brokers not regulated in the UK in regards to safety of funds.

Another advantage available to you as a UK resident is the choice of having a spread betting account. Trading a spread betting account is the same as forex trading, but because of the UK spread betting tax code, UK and Ireland traders enjoy tax-free trading.*

[I]* The UK tax treatment of your financial betting activities depends on your individual circumstances and may be subject to change in the future, or may differ in other jurisdictions.[/I]

#5

Thanks Jason…

I also wanted to note that I have tried opening practice accounts since yesterday and done this twice now, but the page keep hanging on me, and doesn’t seem to be working

#6

I am with them to and I am happy with them. :slight_smile: Good choice. Just a pity that Jason is not a pretty looking lady, but you can’t have it all. :S

#7

Please tell me what steps you are taking to open your practice account. Are you trying to access our site from your workplace? Perhaps the company firewall is blocking it.

I am happy to set up a practice account for you, if you send me a private message with your name, email and specify which account type (Mini, Standard, Active Trader) and platform (Trading Station, MT4, Mirror Trader, NinjaTrader, ZuluTrade) you would like.

#8

Jason
Sorry for late response, was away. looks like I can’t pm you currently. do you could think you could PM me and I will reply?
many thanks…i didn’t even realise there were so many platform options.

#9

Hi Dojiforce,

Apparently, I can’t send you a PM either. I think it might be because you’re still new to the forum and haven’t made many posts yet.

You can send me an email at jrogers AT fxcm DOT com.

#10

thanks Jason - i have emailed you

#11

Thanks AJ, I’ve replied back with the info you requested. :57: