FXCM Review 2026
Regulated broker with real licence numbers.
FXCM is a regulated CFD broker founded in 1999. It holds a FCA licence under number 217689.
The basics
FXCM was founded in 1999 and is headquartered in London, UK. It is privately owned. The broker offers CFDs on 300 instruments across forex, indices, commodities, and crypto. All positions are contracts for difference — there is no real asset ownership.
MetaTrader is available on all account types. Copy trading is not offered.
| Founded | 1999 |
| Headquarters | London, UK |
| Instruments | 300+ |
| Platforms | Trading Station, MT4, NinjaTrader |
| MetaTrader | Yes — MT4 and MT5 |
| Copy trading | No |
| Real stocks | No — CFDs only |
Is FXCM safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent.
| Regulator | Licence | Entity |
|---|---|---|
| FCA | 217689 ✓ | FXCM Ltd |
| ASIC | 309763 ✓ | FXCM Australia Pty Ltd |
| FSCA | 46534 ✓ | FXCM South Africa Pty Ltd |
| ISA | 515072165 ✓ | FXCM Israel Ltd |
You can verify the FCA licence at register.fca.org.uk. The registration shows the entity name, authorisation status, and full permissions list. It takes under a minute.
FXCM spreads
These are the typical spreads on FXCM's standard account. Spreads vary by market conditions and account type. ECN or raw-spread accounts offer lower spreads in exchange for a per-trade commission.
| EUR/USD | 1.3 pips pips |
| GBP/USD | 1.6 pips pips |
| USD/JPY | 1.4 pips pips |
| Gold (XAU/USD) | 28c/oz |
| S&P 500 | 0.5pt |
FXCM's EUR/USD spread of 1.3 pips pips is wider than ECN-first brokers but typical for a commission-free account.
FXCM withdrawal fee and processing time
Fee: None. FXCM does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Processing time: 1 to 3 business days. E-wallet and card withdrawals are typically faster than bank wire transfers.
Withdrawal requests must pass identity verification before processing. If your account is not yet fully verified (proof of identity and address submitted), expect additional delays. Verified accounts follow the standard processing times above.
FXCM minimum deposit by entity
The minimum deposit depends on which FXCM entity serves your country. Offshore entities often allow lower minimums but with less regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| FXCM Ltd | FCA 217689 | $50 | 1:30 |
| FXCM Australia Pty Ltd | ASIC 309763 | $50 | 1:30 |
| FXCM South Africa Pty Ltd | FSCA 46534 | $50 | 1:400 |
| FXCM Israel Ltd | ISA 515072165 | $50 | 1:30 |
FXCM vs eToro
| FXCM | eToro | |
|---|---|---|
| Primary regulator | FCA 217689 | FCA 583263 |
| Min deposit | $50 | $50 |
| EUR/USD spread | 1.3 pips pips | 1.0 pips |
| MetaTrader | Yes | No |
| Instruments | 300+ | 3,000+ |
| Copy trading | No | Yes |
| Withdrawal fee | None | $5 per withdrawal |
Both brokers are regulated and legitimate. FXCM suits traders who value MetaTrader and algorithmic trading. eToro is better for traders who prioritise tighter spreads.
Regulation — the numbers that matter
| FCA | 217689 — FXCM Ltd |
| ASIC | 309763 — FXCM Australia Pty Ltd |
| FSCA | 46534 — FXCM South Africa Pty Ltd |
| ISA | 515072165 — FXCM Israel Ltd |
Leverage for retail clients in the EU and UK is capped at 1:30 on major forex pairs under ESMA rules.
Pros and Cons
What works
- FCA regulated — FXCM Ltd
- Low minimum deposit ($50)
- MetaTrader 4 and 5 available
- Regulated in 4 jurisdictions
What does not work
- No copy trading
- No real stock ownership — CFDs only
- Inactivity fee: $50/month after 12 months
- High leverage only via offshore entity
The verdict
FXCM is a legitimate, regulated broker. The FCA licence number 217689 is verifiable on the public register. It is best suited for traders who want MetaTrader on a regulated platform. Rating: 4.0 out of 5.
Alternatives to FXCM
If FXCM does not fit your needs, these regulated alternatives are worth comparing:
Frequently asked questions
Is FXCM safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent. FXCM holds FCA licence 217689, which is publicly verifiable on the official register.
What is the FXCM minimum deposit?
The minimum deposit is $50. This applies to the main regulated entity. Some offshore entities may differ. See the entity table above for full breakdown.
What is the FXCM EUR/USD spread?
The EUR/USD spread on FXCM standard accounts is typically 1.3 pips pips. Spreads vary with market conditions. ECN or raw accounts offer lower spreads with a per-trade commission instead.
How long does FXCM take to process withdrawals?
1 to 3 business days. E-wallet and card withdrawals are typically faster than bank wire transfers.
Does FXCM charge withdrawal fees?
None. FXCM does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Does FXCM have MetaTrader?
Yes. FXCM supports both MT4 and MT5 on all account types. This allows automated trading, custom indicators, and expert advisors.