A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). FXCM is also a great option for beginners, due to its wide range of educational materials and fxcm canada review easy-to-use platforms, including its latest integration with TradingView. Friedberg Direct offers a number of different trading options, depending on what you’re interested in. Find out how you can start trading with Friedberg Direct, and open your account today with a simple online registration.
- Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
- In addition to a growing selection of over 300 CFDs that includes fractional shares and 41 forex pairs, FXCM offers exchange-traded securities across 43 exchanges in Europe, North America, and the Asia-Pacific region.
- We put great effort into ensuring that our clients are assisted promptly and effectively, and we are glad to hear that this was the case with your experience with Daniel as well.
- They offer a global platform that is suitable to trade internationally, including European clients as well as beginning traders looking for technical solutions.
- It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
They offer a decent range of trading instruments and their trading platform can be used by anyone. This account can be accessed using the MetaTrader 4 platform or the Trading Station platform. Traders can gain exposure to currency pairs, indices, commodities, cryptocurrencies, shares, and more. The average spread is 1.3 pips which is decent compared to other similar brokers. Overall, due to the strong background of the broker, years of successful operation, and reputation in the financial world our financial experts find FXCM broker a reliable and safe trading environment. Active or high-volume traders can enjoy their benefits with various available interfaces, good and competitive value spreads, or offerings with advanced technical features.
Is FXCM safe for traders from Canada?
The exact fee depends on the type of account held by the trader, the type of instrument being traded, the timing of the trade, amongst other factors. Their minimum spread is 1.3 pips for trading the benchmark EURUSD currency pair through the Retail account. They are safe for traders from Canada and their fees is quite reasonable.
Finder.com compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. You’ll also save up to 60% on your trading costs if you have an active trader account (with spreads as low as 0.1 pips). Commission-based pricing is also available for these accounts so that you won’t need to worry about calculating the spread.
Our team is always happy to help, so if you ever need anything else, do not hesitate to let us know. We’re thrilled to hear about your positive experience at FXCM. We appreciate your feedback and look forward to continuing to assist you.
FXCM Trading Platforms
As requested, we also tried to reach you via phone call but was not able to get a hold of you. Kindly reply Daniel’s email to discuss about your suitable time to talk and he will definitely ring you back to clarify any doubts from you. Our team is always striving to provide the best possible service, and we are happy to hear we’ve been successful in meeting your needs. If you ever need anything else, we are always happy to help.
Is FXCM safe?
As a client-oriented broker, we are always happy to read feedback like yours. If you ever want to share any preferences or suggestions, we’d love to hear you out. It’s great to know that our platform is the right fit for your investing needs.
An Active Trader account can only be opened if the trader has a notional trading volume of over CAD 10 million. This trading volume is calculated based on the funds deposited into the trading account and the notional value of the open trades on the platform. An Active Trader account comes with a dedicated account manager along with priority customer support. Traders also have access to exclusive market data which can be used to inform trades.
We do not present any investment advice or guarantees for the accuracy and reliability of the information. Free research, insights, and strategies outlook, along with greatly designed FXCM tools with FXCM Plus, Market Scanner, and Trading signals with technical levels all at your disposal. For the globally presented offices, each of them as a branch of Forex Capital Markets Limited follows the country’s financial authority and is licensed accordingly. Limited is regulated by the ASIC, FXCM Germany is partially regulated by BaFin, and FXCM Italy is subject to the control of CONSOB and FSCA (Check out the FSCA Regulated Infinox Capital Review) authorization in South Africa. Regular texts to check everything is ok, swift, professional support and service. I am more than happy with him always helpful knowledgeable and kind.
Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. They offer different account types for different types of traders, while not offering too many account types which can be confusing for the trader. FXCM offers customer support through live chat, phone call, and email. In Canada, FXCM has partnered with Friedberg Direct to offer its services to residents of Canada.
Data Not Linked to You
Friedberg Direct is as safe to use as any other online forex trading platform. The company is a licensed dealer and a member of the Investment Industry Regulatory Organization of Canada (IIROC). It’s also a member of the Canadian Investor Protection Fund (CIPF). This means your investments are regulated in Canada and protected up to a million dollars. FXCM primarily offers only two types of accounts; these are the Retail account and the Active Trader account. The Retail account is meant for beginners and individual traders while the Active Trader account is meant for high-volume traders and institutional traders.
Nevertheless, allow your payment provider to add on some working days to process the transaction as well. Further on, when you wish to withdraw funds, you may use the same payment methods. There are no fees for withdrawals by credit card or debit card, however, a $40 withdrawal fee will be charged for international Bank Wire requests. However, this is defined according to the FXCM’s entity, likewise, UK and EU clients would need GBP300 at the start. Our experts find FXM a highly reputable broker since it’s authorized and regulated by some of the most rigorous regulators FCA and ASIC.
The Trustpilot Experience
The company provides global traders with access to the world’s largest liquid market through innovative trading tools, and the support of excellent trading educators while all operating under strict financial standards. For traders who appreciate advanced trading tools and quality market research, FXCM is a winner – especially for algorithmic trading. Though its range of tradeable markets is growing, it remains fairly narrow, and the pricing at FXCM is just average.
The company manages over $2 billion in assets for both retail and institutional investors. It’s a member of the Investment Industry Regulatory Organization of Canada (IIROC) as well as the Canadian Investor Protection Fund (CIPF). Step 5) Set a password for your account, check the boxes to accept the terms and condition then click ‘Continue’. Next review the information you have provided and click ‘Submit’. Further, FXCM’s group entities are also regulated by the tier-1 financial authorities Financial Conduct Authority of the UK and the Australian Securities and Investment Commission of Australia. FXCM’s operations in Canada are overseen by the IIROC of Canada, which is the relevant regulatory authority in the company.
It works primarily with its proprietary “Trading Station” platform as well as the ever-popular MetaTrader 4 platform. Step 1) Go to the FXCM website at and click on ‘OPEN AN ACCOUNT’. On the page that loads, select the trading platform you would like to use.