Do you want an honest and brief review of FXCM that can help you determine your thoughts about this broker? If so, then don’t worry because we are here to help you with a complete and honest FXCM review.
FX trading is one of the largest markets in the world through which traders are making hundreds and thousands of dollars. Although FX trading is a wide network but still, if we go to find some seriously amazing brokers, then we will get only a few. That is why people are always in a query while choosing the best broker for them.
So, we are here with FXCM review so that you can decide whether FXCM can be your future broker or not:
What Exactly FXCM is?
FXCM stands for Forex Capital Market, and this broker was established in 1999. It means that it is one of those FX brokers launched in the 90s, so you can say that it is one of the oldest. FXCM LTD belongs to FXCM groups that is a Leucadia Company.
This FX broker is under the control of Jefferies Financial (NYSE: JEF). And it is regulated in three tier-1 jurisdictions. We have done thorough research on this broker and got some amazing facts about that.
We have got that FXCM is one of the best FX brokers in South Africa (maybe lands in the top 10 list). FXCM is known as one of the best because:
- It offers one of the best mobile trading opportunities.
- It always works on tools and features that a common FX trader wants.
- You will always get ease of access.
Is it Safe to Trade with FXCM?
The first question that comes to a newcomer’s (new FX trader’s) mind is about the safety that any broker can provide. Because no one wants to lose his money and assets during the trading process, so, let’s see whether FXCM is safe for you or not?
The safety of any FX broker depends on various factors that we can’t discuss shortly. But perhaps the biggest factor of safety of any broker is regulation. Suppose a broker is regulated by one, two or more legit and reliable security authorities. In that case, we can confidently say that it is safe to trade with.
When we talk about FXCM’s regulation, we will get that FXCM is regulated in three tier-1 jurisdictions. But what does it mean?
It means that if a broker is regulated in three tier-1 jurisdictions, then it means that it is one of the least risky and highly safe brokers. So, FXCM is safe, but which security authorities regulate FXCM? Let’s see:
FXCM is regulated in two of FX’s biggest markets in the UK and Australia with the Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA). So, you can trade with it in every region of the world.
- Note: If a broker is regulated in three tier-2 jurisdictions, it means that it is moderately safe. And if a broker is regulated in three tier-3 jurisdictions, it means that it is highly risky.
Hopefully, this brief FXCM review was helpful for you.