FXCM Trading Accounts


FXCM provides several account types designed for experienced traders as well as for those who are new to the FOREX market. The standard 5K account is ideal for experienced traders wishing to leverage the full advantages of FX trading. Traders can also open an Active Trader account with $25,000 to receive elite services. Also, opening a mini account requires an initial deposit of $50 and offers leverages of up to 1:200* for all traders who are outside of the United States, and 50:1 leverage for US-based traders.

FXCM also offers two training accounts, which are available for 30 days. The standard demo has $50,000 demo money and the mini demo has $2,000. Platforms for all account types are identical, however a separate username and password needs to be used for each type of account.
The advantage of Trading Forex online is having the possibility to deal with no Dealing Desk. With this option, traders basically trade on rates provided directly by the banks, which enables FXCM to offer low variable spreads. Typical Standard Account spreads for FXCM traders are 0.5 pips for EUR/USD and 1.3 pips for GBP/USD, with similarly competitive spreads for other major currency pairs.

Trading Platforms and Features

In addition to its proprietary platform, FXCM uses the popular MT4 trading platform. The environment is user friendly and intuitive to use, and can be customized according to the users preferences. The products offered are day trading, stop loss & take profit, as well as trailing stop / limit orders and entry orders. A hedging feature is available in No Dealing Desk accounts for clients of FXCM UK. In late 2016 FXCM also added a DOM indicator, allowing “no dealing desk” clients to see up to five levels of liquidity and depth for 17 of the most traded currency pairs. The “At Best” feature, short for At Best Price, enables being filled at the best rate streamed to FXCM at that moment from all global banks and financial institutions they work with. This feature, as opposed to the standard “At Market Range”, prevents situations in which the price you intended to make the order at has expired.

In addition to its proprietary platform, FXCM uses the popular MT4 trading platform. The environment is user friendly and intuitive to use, and can be customized according to the users preferences. The products offered are day trading, stop loss & take profit, as well as trailing stop / limit orders and entry orders. A hedging feature is available in No Dealing Desk accounts for clients of FXCM UK. In late 2016 FXCM also added a DOM indicator, allowing “no dealing desk” clients to see up to five levels of liquidity and depth for 17 of the most traded currency pairs. The “At Best” feature, short for At Best Price, enables being filled at the best rate streamed to FXCM at that moment from all global banks and financial institutions they work with. This feature, as opposed to the standard “At Market Range”, prevents situations in which the price you intended to make the order at has expired.

In addition to its proprietary platform, FXCM uses the popular MT4 trading platform. The environment is user friendly and intuitive to use, and can be customized according to the users preferences. The products offered are day trading, stop loss & take profit, as well as trailing stop / limit orders and entry orders. A hedging feature is available in No Dealing Desk accounts for clients of FXCM UK. In late 2016 FXCM also added a DOM indicator, allowing “no dealing desk” clients to see up to five levels of liquidity and depth for 17 of the most traded currency pairs. The “At Best” feature, short for At Best Price, enables being filled at the best rate streamed to FXCM at that moment from all global banks and financial institutions they work with. This feature, as opposed to the standard “At Market Range”, prevents situations in which the price you intended to make the order at has expired.

In addition to its proprietary platform, FXCM uses the popular MT4 trading platform. The environment is user friendly and intuitive to use, and can be customized according to the users preferences. The products offered are day trading, stop loss & take profit, as well as trailing stop / limit orders and entry orders. A hedging feature is available in No Dealing Desk accounts for clients of FXCM UK. In late 2016 FXCM also added a DOM indicator, allowing “no dealing desk” clients to see up to five levels of liquidity and depth for 17 of the most traded currency pairs. The “At Best” feature, short for At Best Price, enables being filled at the best rate streamed to FXCM at that moment from all global banks and financial institutions they work with. This feature, as opposed to the standard “At Market Range”, prevents situations in which the price you intended to make the order at has expired.

Education

24option provide a range of educational material. They host live trading webinars, offer free “learn how to trade” eBooks, as well as a free detailed daily market report. There are a range of recorded webinars designed specifically to help trading beginners, which can be viewed at leisure. There are additional levels of webinars aimed at providing detailed trading strategies and ideas suitable for intermediate and advanced level traders.

Deposits & Withdrawals

Depositing funds into a 24option account is an easy and secure process. Deposits may be made using a range of methods, including credit cards, bank wire transfer, and Skrill. Withdrawals can be made to credit cards, or by wire transfer.

Customer Support

Customer support is based in Cyprus. Clients can contact a 24option representative by telephone during business hours, and can use email anytime of the day. There is also a direct chat service available through their website.

Conclusion

24option have transitioned away from binary options into an offering for traders looking for the ability to trade a very wide selection of assets, including stocks, cryptocurrencies, metals, stock indices, and commodities.