FXCM
* FXCM UK offers tax exempt spread betting accounts exclusively to UK residents. Residents of other countries are NOT eligible. Spread betting is not intended for distribution to, or use by any person in any country and jurisdiction where such distribution or use would be contrary to local law or regulation. The UK tax treatment of your financial betting activities depends on your individual circumstances and may be subject to change. Spread Betting accounts offer spread plus mark-up pricing only. Spreads are variable and are subject to delay.
** Cryptocurrency products are only available to Professional and Eligible Counterparty Clients.
Active Trader accounts offers spreads plus mark-up pricing or spreads plus commission pricing depending on your equity level and trading volume.
When executing customers’ trades, FXCM can be compensated in several ways, which include, but are not limited to: spreads, charging fixed lot-based commissions at the open and close of a trade, adding a markup to the spreads it receives from its liquidity providers for certain account types, and adding a markup to rollover, etc.
The UK tax treatment of your financial betting activities depends on your individual circumstances and may be subject to change in the future, or may differ in other jurisdictions.
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
The Trading Signals do not constitute and should not be regarded as an investment advice. You act on the signals entirely at your own risk.
Spreads are variable and are subject to delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays for actions relying on this information.
FXCM
Overall
I used this broker somewhere around last year, through a Malaysian IB, he tought me how to trade forex in, but it was CRAP. That was a different story. So here is about FXCM. The Customer service is very friendly and deposit/withdrawal is quite fast. But my problem is the slippage, which for example GBPJPY usually charge me around 5-6 pips, but sometimes it slips me up to 16 pips. How much left do i have to make a profit? My friend even suggest me not to use this broker and im glad Im out, especially under that IB who suggest to trade over leverage.
Overall
I have also used FXCM and have ditched them.........
I have to agree with Jerome, their customer service is first class. Had a guy phone me from their local branch and he managed to help me with any and all technical issues that I had. Deposit and withdrawal was accomplished without a hitch at an acceptable pace.
Unfortunately, technically they don't seem to have aced the transition to the Boston Tech liquidity bridge. Their trade execution was slow and this is no good for scalping. There are many requotes but this is also due to a technical deficiency where virtually any error was reflected as an "off quotes" error.
I also have an issue with the way they are not honest about their spreads. They claim a typical spread of 2.4 pips on the EURGBP but when I charted their spreads over a 72 hours period, the average was clearly 3.3 pips. In fact there is such a clear line delineating the 3.3 pips area that you can see the price is manipulated(See attachment)
<a href='http://www.myfxbook.com/files/compuforexpamm/FXCM_EURGBP_Spreads.jpg'><img src='http://www.myfxbook.com/files/compuforexpamm/FXCM_EURGBP_Spreads.jpg'/></a>
Overall
Execllent customer service. Too many requotes - but that is mostly likely due to ECN model. Taking MT4 platform offline on Sundays is a little bit of a headache. But I think this is the best broker in the market.
