FXCM Information
FXCM Group, a broker, which offers a variety of trading instruments and accounts. However, its biggest drawback is that it is not regulated.
Pros and Cons
Is FXCM Group Legit？
Checks showed that FXCM Group was not effectively regulated and had been disclosed by the French Financial Market Authority.
The broker may have been involved in illegal operations. Please pay attention to safety, stay away from the broker.
- 2021-04-08 FR AMF has added FXCM Group to its blacklist of unauthorized companies and websites
On April 8, 2021, the French Authority for Financial Markets (FR AMF) issued a warning, placing FXCM Group on a blacklist of unauthorized companies and websites: Forex. You may visit: https://www.wikifx.com/en/regulator/disclosures/202308070824428952.html？path=2&code=2028840996
- 2022-02-02 ID BAPPEBTI shut down FXCM Group in the name of shutting down illegal commodity futures trading websites
On February 2, 2022, the Indonesian Commodity futures trading regulator (ID BAPPEBTI ) seized a total of 1,222 illegal commodity futures trading websites and gambling websites under the guise of trading, resulting in the punishment of FXCM Group. You may visit: https://www.wikifx.com/en/regulator/disclosures/202304230958042112.html？path=2&code=2028840996
What Can I Trade on FXCM Group？
According to brokers, FXCM Group supports trading instruments such as Forex, Indices, Actions, Commodities, Cryptocurrencies and ETF.
Account Types
FXCM Group provides 5 types of Account, namely Diamond Account, Platinum Account, Gold Account, Silver Account and Basic Account.
The account leverage provided by FXCM Group is wide, ranging from 1:200 to 1:10. The minimum deposit range is also large, the minimum need of €5,000, the threshold is high. Therefore, it is more suitable for investors who are experienced in trading and want to make long-term investments.
Customer Service
FXCM Group provides traders with customer service at office@fxcm-group.io.
The Bottom Line
Although it provides investors with a relatively large number of trading instruments and account types, unregulated is the most fatal drawback. It is an unsafe broker. Therefore, this broker is not suitable for any type of traders, please the majority of traders to protect the safety of funds.
FAQs
Is FXCM Group safe？
FXCM Group cannot be considered safe. Because it is not regulated by any institution, it operates outside of laws and regulations.
Is FXCM Group good for beginners？
FXCM Group is not a recommended choice for beginners. The minimum deposit threshold of each account provided by the brokerage is relatively high, which is not suitable for inexperienced beginners to start.
Is FXCM Group good for day trading？
This broker is not suitable for day trading. It is unregulated and lacks market credibility, which increases trading risk and is not suitable for day trading that requires high security and stability.
