In the battle between FXCM and Forex.com, both of these forex brokers have their pros and cons. FXCM is known for allowing people to speculate on the foreign exchange market, while Forex.com offers a wider range of trading options including Forex, CFDs, and even cryptocurrency.
However, it is important to note that FXCM has been banned from United States markets for defrauding its customers. In terms of fees, FXCM does not charge any, while Forex. com has a monthly inactivity fee. Ultimately, the choice between these two brokers depends on your specific trading needs and preferences.
Introduction To Fxcm And Forex Com
With its headquarters in Austin, Texas, FXCM and Forex. com are two popular platforms for trading in the foreign exchange market. While both offer a range of features and platforms, FXCM stands out with multiple third-party offerings, while Forex. com excels in terms of platforms and tools.
When it comes to trading forex, it’s important to choose a reliable and reputable broker. Two well-known brokers in the market are Fxcm and Forex Com. In this article, we will compare these two brokers to help you make an informed decision. Let’s start with an overview of Fxcm and Forex Com.
Overview Of Fxcm And Forex Com
Fxcm is a London-based broker that allows people to speculate on the foreign exchange market. They offer trading in contract for difference (CFDs) on major indices and commodities such as gold and crude oil. Despite its global presence, FXCM is not allowed in the United States.
Forex Com, on the other hand, is a broker that offers a wide range of trading products, including forex, commodities, and indices. They are known for their competitive spreads and fees. Forex Com accepts customers from most countries but there are a few exceptions, including residents from the USA, Japan, Brazil, Turkey, Hong Kong, Iran, Cuba, Russia, New Zealand, Syria, and South Korea.
Key Features And Offerings Of Fxcm
FXCM offers a variety of key features and offerings, including:
- Access to the global forex market for trading major and exotic currency pairs.
- Trade CFDs on major indices and commodities such as gold and crude oil.
- Competitive spreads and fees.
- Advanced trading platforms such as the proprietary Trading Station platform.
- Mobile trading apps for on-the-go trading.
- Educational resources and analysis tools for traders.
Key Features And Offerings Of Forex Com
Forex Com offers a range of key features and offerings, including:
- Access to a wide range of trading products, including forex, commodities, and indices.
- Competitive spreads and fees.
- Advanced trading platforms such as MetaTrader 4 and FOREX.com’s proprietary platform.
- Mobile trading apps for trading on smartphones and tablets.
- Robust research and analysis tools.
- Comprehensive educational resources for traders of all levels.
Differences In Trading Platforms And Tools
When it comes to trading platforms and tools, there are some differences between Fxcm and Forex Com. FXCM provides the proprietary Trading Station platform, which offers advanced charting tools and a user-friendly interface. On the other hand, Forex Com offers the popular MetaTrader 4 platform, known for its extensive range of tools and customizable features. Both brokers also offer mobile trading apps, allowing traders to access the markets on the go.
In conclusion, both Fxcm and Forex Com are reputable brokers with their own unique features and offerings. It’s important to consider your trading needs and preferences when choosing between the two. Whether you prioritize access to specific markets, competitive fees, or advanced trading platforms, these brokers have something to offer.
Account Types And Pricing
FXCM and Forex. com offer different account types and pricing options for forex trading. While both platforms have their own strengths, it is important to compare the features and fees of each to determine which is the better fit for your trading needs.
Types Of Accounts Offered By Fxcm
At Fxcm, traders have the option to choose from several different types of trading accounts to suit their individual needs and trading styles. The available account types include: 1. Standard Account: The Standard Account is a popular choice among both beginner and experienced traders. This account offers competitive spreads, no commission charges, and a minimum initial deposit requirement of $50. 2. Active Trader Account: The Active Trader Account is designed for high volume traders who require tighter spreads and faster execution. This account offers lower commission fees and a dedicated account manager for personalized support. The minimum initial deposit for the Active Trader Account is $25,000. 3. Professional Account: The Professional Account is available for eligible professional traders who meet the necessary criteria. This account offers even lower costs, including reduced spreads and commission charges, along with additional benefits and features.Types Of Accounts Offered By Forex Com
Forex Com also provides a variety of trading accounts to cater to the diverse needs of traders. The account types offered by Forex Com include: 1. Standard Account: The Standard Account is Forex Com’s most popular account option. It offers competitive spreads, no commission charges, and a minimum initial deposit requirement of $100. This account provides access to a wide range of tradable instruments. 2. Commission Account: The Commission Account is designed for traders who prefer lower spreads and are willing to pay a fixed commission per trade. This account type is suitable for active and high-volume traders looking for tighter pricing and lower overall trading costs. 3. DMA Account: The DMA (Direct Market Access) Account is suitable for traders who want direct access to liquidity providers. This account type offers raw spreads, which are determined by the market, and charges a small commission per trade.Account Requirements And Minimum Deposits
Fxcm and Forex Com have different minimum deposit requirements for their various account types. Here are the minimum deposit requirements for each broker: – Fxcm: The Standard Account at Fxcm requires a minimum initial deposit of $50. The Active Trader Account has a higher minimum deposit requirement of $25,000. Traders interested in opening a Professional Account should check if they meet the necessary criteria before applying. – Forex Com: The Standard Account at Forex Com has a minimum initial deposit requirement of $100. Traders opting for the Commission Account or the DMA Account should be aware of the specific minimum deposit requirements associated with each account type.Fee Structures And Commissions Comparison
When it comes to fee structures and commissions, both Fxcm and Forex Com offer competitive pricing. Here is a comparison of the fee structures and commissions for each broker: – Fxcm: The Standard Account at Fxcm offers spreads starting from 1.3 pips, with no commission charges. The Active Trader Account has reduced spreads and charges lower commissions per trade. The Professional Account offers even lower costs, including reduced spreads and commission charges. – Forex Com: The Standard Account at Forex Com provides competitive spreads starting from 1.2 pips, with no commission charges. Traders opting for the Commission Account will pay a fixed commission per trade, in addition to tighter spreads. The DMA Account offers raw spreads, which are determined by the market, and charges a small commission per trade. It’s essential for traders to consider their trading style, account requirements, and fee structures when choosing between Fxcm and Forex Com.Trading Assets And Markets
When it comes to choosing a forex broker, one of the key factors to consider is the range of trading assets and markets available. In this section, we will compare the available markets for trading on FXCM and Forex.com, as well as the differences in tradable assets and instruments.
Available Markets For Trading On Fxcm
FXCM allows traders to speculate on the foreign exchange market and provides trading in contract for difference (CFDs) on major indices and commodities such as gold and crude oil. They offer a wide range of currency pairs to trade, including major, minor, and exotic pairs.
Additionally, FXCM also provides access to cryptocurrencies, enabling traders to participate in the growing digital asset market. This includes popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Overall, FXCM offers a comprehensive range of markets for traders to choose from, catering to both forex and CFD trading.
Available Markets For Trading On Forex.com
Forex.com, on the other hand, also offers a wide range of markets for traders. They provide access to the foreign exchange market, allowing traders to trade major, minor, and exotic currency pairs.
In addition to forex, Forex.com offers trading in CFDs on stock indices, commodities, and metals. This includes popular indices such as the S&P 500 and Nasdaq, as well as commodities like gold, silver, oil, and natural gas.
Forex.com also offers trading in cryptocurrencies, allowing traders to invest in digital assets like Bitcoin, Ethereum, and Ripple.
Comparison Of Tradable Assets And Instruments
When comparing the tradable assets and instruments offered by FXCM and Forex.com, both brokers provide a diverse selection. However, there are some differences in terms of market coverage and depth.
FXCM focuses primarily on forex trading and offers a wide range of currency pairs, including major, minor, and exotic pairs. They also provide access to CFD trading on major indices and commodities, as well as cryptocurrencies.
Forex.com, on the other hand, offers a similar range of currency pairs for forex trading. Additionally, they provide trading in CFDs on stock indices, commodities, metals, and cryptocurrencies.
Overall, both FXCM and Forex.com offer a comprehensive range of tradable assets and instruments. The choice ultimately depends on the individual trader’s preferences and trading strategies.
Platform And Tools
When it comes to choosing a forex broker, one of the most important factors to consider is the platform and tools they provide. The trading platform plays a crucial role in providing a seamless and efficient trading experience, while the tools and functionalities offered contribute to the overall success of traders. In this section, we will provide an overview of the trading platforms provided by both FXCM and Forex.com, compare their features and functionalities, and analyze their charting tools and technical indicators.
Overview Of Trading Platforms Provided By Fxcm
FXCM offers multiple trading platforms to cater to traders’ diverse needs and preferences. The primary platform provided by FXCM is the award-winning Trading Station. This platform is available both as a desktop application and a web-based platform, ensuring flexibility and accessibility for traders. The Trading Station is known for its user-friendly interface, advanced charting capabilities, and a wide range of order types, including market, limit, and stop orders. Additionally, FXCM also offers the MetaTrader 4 platform, a popular choice among forex traders worldwide.
Overview Of Trading Platforms Provided By Forex.com
Similar to FXCM, Forex.com also offers a range of trading platforms to accommodate the trading requirements of different traders. The main platform provided by Forex.com is the proprietary Advanced Trading platform. This platform is designed to provide a robust and feature-rich trading experience, with advanced charting tools and customizable layouts. In addition to the Advanced Trading platform, Forex.com also supports the MetaTrader 4 platform, allowing traders to leverage its extensive range of built-in indicators and expert advisors.
Comparison Of Platform Features And Functionalities
When comparing the platform features and functionalities of FXCM and Forex.com, it is evident that both brokers strive to provide traders with comprehensive trading solutions. The Trading Station offered by FXCM stands out for its intuitive interface, customizable layout, and seamless integration of charting tools. On the other hand, Forex.com’s Advanced Trading platform excels with its advanced order types, multiple execution modes, and real-time market analysis. Traders should consider their individual trading preferences and requirements when deciding between these platforms.
Analysis Of Charting Tools And Technical Indicators
Accurate and reliable charting tools and technical indicators are indispensable for traders seeking to make informed trading decisions. Both FXCM and Forex.com acknowledge the importance of comprehensive charting capabilities in their platforms. The Trading Station provided by FXCM offers an extensive selection of technical indicators, drawing tools, and chart types, empowering traders to perform in-depth analysis of market trends and patterns. Similarly, Forex.com’s Advanced Trading platform provides a wide array of customizable charting tools, including overlays, indicators, and drawing tools, enabling traders to conduct detailed technical analysis.
In conclusion, both FXCM and Forex.com offer robust trading platforms with advanced features and functionalities. Traders can choose between FXCM’s Trading Station or MetaTrader 4, as well as Forex.com’s Advanced Trading platform or MetaTrader 4, to suit their trading preferences. The comparison of platform features and functionalities reveals that each broker brings unique strengths to the table, and the analysis of charting tools and technical indicators showcases their commitment to empowering traders with powerful analytical capabilities.
Customer Support And Education Resources
Customer Support and Education Resources for FXCM and Forex. com are designed to provide users with comprehensive assistance and learning materials. From live chat support to educational videos and articles, these platforms ensure that traders have the necessary resources to navigate the forex market effectively.
Customer Support Services Offered By Fxcm
When it comes to customer support, Fxcm excels in providing comprehensive assistance to its clients. The team at Fxcm is available 24/7 to address any questions or concerns that traders may have. They offer multi-channel support via live chat, phone, and email, ensuring that customers can reach out in their preferred mode of communication. This prompt and reliable support ensures that traders receive timely assistance whenever they need it.
Customer Support Services Offered By Forex Com
Forex Com also understands the importance of excellent customer support and provides a similar level of assistance to its clients. Their dedicated customer support team is available 24/7 to help traders with any queries they may have. Like Fxcm, Forex Com offers support through live chat, phone, and email, ensuring that traders can easily get in touch with them. The responsive and knowledgeable support team at Forex Com ensures that traders receive the assistance they need in a timely manner.
Comparison Of Educational Resources And Materials
When it comes to education resources, both Fxcm and Forex Com offer a wide range of materials to help traders enhance their knowledge and skills. Fxcm provides an extensive collection of educational resources, including articles, tutorials, and videos, covering various topics such as technical analysis, fundamental analysis, and risk management. Forex Com also offers a comprehensive range of educational resources, including webinars, video tutorials, and e-books, designed to educate and empower traders.
Overall, both brokers put a strong emphasis on providing educational materials that cater to traders of all experience levels. Whether you are a beginner or an experienced trader, you will find valuable educational resources to enhance your trading knowledge and skills.
Availability Of Webinars And Trading Tutorials
In addition to written educational materials, both Fxcm and Forex Com offer webinars and trading tutorials to further support their clients’ learning journey. These live and recorded webinars provide traders with valuable insights into various trading strategies, market analysis, and risk management techniques.
Fxcm regularly conducts webinars hosted by industry experts, covering a wide range of topics to help traders stay informed and make informed trading decisions. Forex Com also offers a range of webinars that cover various aspects of trading, providing traders with the opportunity to learn from experienced professionals.
Both brokers understand the importance of continuous learning in the dynamic world of forex trading and ensure that traders have access to a wealth of educational resources, including webinars and tutorials.
Frequently Asked Questions For Fxcm Vs Forex Com
Which Is Better Fxcm Or Forex Com?
Both FXCM and forex. com are popular forex brokers, but there are a few differences. FXCM was banned in the US for defrauding customers, so it’s not available for US residents. Forex. com has more platform options, while FXCM offers multiple third-party offerings.
Overall, it’s important to consider your specific trading needs when deciding between the two.
Why Was Fxcm Banned?
FXCM was banned from United States markets for defrauding its customers. It is a London-based company that allows people to speculate on the foreign exchange market and provides trading in contract for difference (CFDs) on major indices and commodities.
Is Fxcm Allowed In Usa?
No, FXCM is not allowed in the USA. It accepts customers from most countries, but there are exceptions, including residents from the USA.
Is Fxcm A Good Forex Broker?
FXCM is a forex broker that was banned in the United States for defrauding its customers. It is not allowed in the US, but accepts customers from most other countries.
Conclusion
Considering the various aspects discussed, it is clear that both FXCM and Forex. com have their own strengths and weaknesses. Both offer a range of features and platforms, competitive spreads and fees, and are regulated by reputable authorities. However, depending on individual preferences and trading needs, one may be more suitable than the other.
It is important to carefully evaluate factors such as available markets, account types, and additional fees before making a final decision. Ultimately, the best choice will depend on the specific requirements of each trader.