FXCM Review 2025: How to Open a Demo/Live Account & Withdraw Money?

Note: FXCM does not offer services to residents of the United States, Canada, the United Kingdom, the European Union, Hong Kong, Australia, Israel or Japan and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

If you are not a resident of the above countries and have an interest in FXCM, you can first have a quick look at FXCM's key points via the table below and then continue reading the body part to learn more about its accounts and withdrawal. We hope this article is helpful to you.

	FXCM Review Summary of 12 Points
Founded	1999
Registered	UK
Regulation	ASIC (Australia), FCA (UK), CySEC (Cyprus), ISA (Israel)
Trading Instruments	Forex, shares, commodities, indices, cryptocurrencies
Demo Account	✅
Account Minimum	$50
Maximum Leverage	1:1000 (default)
EUR/USD Spread	Average 0.6 pips
Trading Platform	Trading Station, TradingView Pro, MT4, Capitalise AI
Copy/Social Trading	❌
Deposit Fee	❌
Bonus	Up to $500 welcome bonus

FXCM Account Types

Demo Account

Like most brokers, FXCM supports risk-free demo trading. You can open a free forex trading demo account to enjoy live buy & sell prices, $20,000 of virtual currency and the ability to trade online 24 hours a day, 5 days a week. The FXCM demo account has no time restrictions if traders use it at least once every 30 days.

Live Account

Apart from demo accounts, FXCM offers a single live account type, which is convenient for traders who don't want to do research and choose from many account types. The minimum deposit requirement is $50, lower than the average $100 in the forex market.

There is no minimum balance to keep an account open with FXCM. However, if your account maintains a 0 balance for more than 6 months, it will be closed.

How do I Open an FXCM Demo Account? (Step-by-step)

The best way to get acquainted with FXCM is to take its platforms for a test drive. FXCM demo account opening is easy and simple, just three steps and you can own it.

Step 1: Go to FXCM's website and click on 'OPEN FREE DEMO ACCOUNT' or 'TRY DEMO'.

Step 2: Provide a valid email address and mobile phone number, and select your country of residence.

Step 3: Click on 'TRADE NOW' to get started.

How do I Open an FXCM Live Account? (Step-by-step)

Opening an FXCM live account is not as easy as opening a demo account. You have to complete more steps and fill in more detailed personal info. Below is our step-by-step tutorial about how to sign up for a FXCM live account.

Step 1: Go to FXCM's website and click on 'OPEN AN ACCOUNT' or 'OPEN ACCOUNT'.

Step 2: Select your country of residence, provide a valid email address and set a password. Then, click on 'Sign up'.

Step 3: Choose your desired trading platform, FXCM Trading Station or MetaTrader 4. Then click on 'Continue'.

Step 4: Complete the personal info form, including your name, date of birth, and gender. Then, click on the 'Next' button.

Step 5: Check your country of citizenship and country of birth.

Step 6: Since the country of residence we choose is Malaysia, we have to provide offer the MyKad/Driving license number. Different countries or regions may need to provide different information to get verified. Just follow the instructions and complete the online application.

Step 7: After completing the application you will be provided with a username and password. Log in to the MyFXCM client portal, deposit funds, and start trading.

FXCM Deposit

Deposit on FXCM is very easy. Just log in to MyFXCM with your live account username and password, then click “Deposit Funds”.

The available funding options and deposit time frames are as follows:

① Credit or Debit Card

The maximum deposit on a credit or debit card is $20,000 per month.

• Funds are made available within 1 business day from the time the deposit is initiated, often less.

Please note: Credit or Debit transactions made via MyFXCM are usually credited instantly.

② Bank Wires

• Domestic wires arrive at FXCM in approximately 1-2 business days, often less.
• International wires arrive at FXCM in approximately 3-5 business days, often less.

Please note the time frames above are approximate. While not common, in some cases, delays in processing may occur in some instances as FXCM does not exhibit control over the entire funding process.

Credit or debit cards can be the fastest and easiest method to deposit funds online. If your deposit exceeds $30,000 or equivalent, the fastest and easiest method to deposit funds is by bank wire.

The minimum deposit for the use of the FXCM online credit card or debit card system is $50. The maximum credit or debit card deposit is $30,000 per transaction or $30,000 per calendar month.

There are no administrative fees from FXCM to deposit funds, but banks may charge some fees.

③ Skrill/Neteller

Funds will typically be credited into the corresponding trading account within 1 business day.

The key information mentioned above has been summarized in the table below:

You can check the status of your deposit online by running an 'Account Report' on MyFXCM. Once the deposit has been processed, the 'Account Activity' section will show the deposit into your account.

Also, once a deposit has been credited to your account, an email confirmation will be sent to the email address on file.

If you want to cancel your deposit, you can contact the FXCM account specialist at +1 646 253 1401 or on FXCM LivePerson Chat.

FXCM Withdrawal

It is easy to withdraw funds from your FXCM trading account. You can withdraw any amount. For your convenience, withdrawal requests are submitted online.

How to Withdraw Money from FXCM?

To withdraw funds, please log into MyFXCM and click on 'Withdraw Funds'. You can also submit a withdrawal request online by selecting your withdrawal method and clicking 'Submit'. FXCM will process your withdrawal request within 1-2 business days whenever possible.

The available withdrawal options and time frames to receive funds are as follows:

① Credit or Debit Card

Debit or Credit card withdrawal amounts are limited to the amount originally depositedusing that card(s).

• For example, if you have deposited a total of $500 using your credit or debit card, the most you can withdraw to your credit or debit card is $500.
• Once the principal amount (deposit amount) is returned to your card, the remaining funds may be returned to a bank account in your name.

There are no fees for withdrawals by credit or debit card.

• Credit/Debit Card withdrawals will typically arrive on your card within 5 business days.
• Time frames can vary depending on the credit card issuer and may take up to 1 billing cycle (approximately thirty days) to appear back on your credit or debit card statement.

② Bank Wires

A $40 withdrawal fee will be charged for all Bank Wire requests.

• Domestic wires arrive in approximately 1-2 business days, often less.
• International wires arrive in approximately 3-5 business days, often less.

If you funded your account with a credit card or debit card, it is required to withdraw the principal amount (deposit amount) back to your credit card. The credit card issuer may take from 5 business days to one billing cycle (approximately thirty days) to post back to the credit or debit card used for funding.

When requesting a withdrawal from a credit card, please consider whether the card is closed, expired, or a different credit card number has been issued. Then, choose an alternative method of withdrawal.

Returning funds to a closed account can cause a significant delay in receiving funds, and FXCM cannot guarantee a time frame in which funds will be received if the requested withdrawal amount is initiated to a closed account.

③ Skrill/Neteller

If you have funded via SKRILL/NETELLER, you may withdraw via SKRILL/NETELLER. Please log in to MyFXCM to then click on ‘Withdraw’ to view instructions on how to submit a SKRILL/NETELLER withdrawal request.

The key information mentioned above has been summarized in the table below:

You can check the status of your withdrawal online by running an “Account Report” on MyFXCM.com, the “Account Activity” section will show the amount withdrawn from your account.

Also, once a withdrawal has been deducted from your account, an email titled “Transaction Notification” will be sent to the email address on file. Once you receive this email, please allow up to 5 business days for the funds to show in your bank/card account.

Conversion Fees

FXCM has funding instructions for multiple currencies. If you wire funds in a currency other than the denomination of that bank account, the bank will automatically convert it to the denominated currency at an exchange rate specified by them, which may not necessarily be favourable.

If you would like to deposit/withdraw funds in a currency other than the base currency of your trading account, FXCM will convert the funds before completing the request.

Below is a list of the conversion costs, based on the amount of your deposit/withdrawal:

The cost of the conversion is based on the transaction amount (USD equivalent) added to the market rate for the currency being converted.

Is FXCM Legit?

Currently, FXCM holds four valid regulatory licenses from four countries, including the Australia Securities & Investment Commission (ASIC), the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Israel Securities Authority (ISA).

You can verify CMC Markets' regulatory status and explore more details on WikiFX.

Regulated Country	Regulated by	Regulated Entity	License Type	License No.
	ASIC	STRATOS TRADING PTY. LIMITED	Market Making (MM)	000309763
	FCA	Stratos Markets Limited	Market Making (MM)	217689
	CySEC	Stratos Europe Ltd	Market Making (MM)	392/20
	ISA	STRATOS LIGHT LTD	Retail Forex License	515234623

FXCM vs Other UK Brokers

Logo
Broker	FXCM	CMC Markets	IC Markets Global	City Index
Regulation	ASIC, FCA, CySEC, ISA	FMA, FCA, CIRO, MAS	ASIC, CySEC	FCA
Product Offering	Forex, shares, commodities, indices, cryptocurrencies	10,000+, forex, indices, commodities, shares, ETFs, treasuries, shares baskets	2,250+, CFDs on 61 currency pairs, 24 commodities, 2,100+ stocks, 25 indexes, 9 bonds, 21 cryptocurrencies, 4 futures	13,500+, indices, shares, forex, gold/silver, commodities, futures, bonds, options, interest rates, thematic indices
Demo Account	✅ ($20,000 of virtual money)	✅(MT4/5 account - initial period of 30 days, Next Generation account - no expiry date; $10,000 virtual funds)	✅	✅ (£10,000 in virtual funds for 12 weeks)
Account Minimum	$50	$0	$200	$0
Maximum Leverage	1:1000	1:200	1:1000	1:500
Trading Platform	Trading Station, TradingView Pro, MT4, Capitalise AI	MT4/5, CMC NextGen	MT4/5, cTrader, TradingView (Windows, Web, Android, Mac, iOS)	Mobile trading app, WebTrader, TradingView, MT4 (web, desktop, mobile)
Copy/Social Trading	❌	❌	✅	❌
Promotion	✅	❌	❌	❌
Best for	Beginners	Beginners	Experienced traders	Beginners

FAQs

Which countries accept FXCM?

FXCM does not offer services to residents of the United States, Canada, the United Kingdom, the European Union, Hong Kong, Australia, Israel or Japan.

Is FXCM a good forex broker?

Yes. FXCM is experienced and regulated by multiple regulatory authorities. It offers competitive trading conditions - the average EUR/USD spread is only 0.6 pips and no commissions. Available trading platforms are not limited to the most popular MT4, but also Trading Station, TradingView Pro, and Capitalise AI. Besides, FXCM offers rich educational resources and market analysis, which are very friendly for beginners.

Does FXCM offer demo accounts?

Yes. You can open a FXCM demo account with $20,000 virtual currency and trade online 24 hours a day, 5 days a week.

What is the minimum deposit in FXCM?

FXCM allows a minimum deposit of $50, while most brokers require $100.

Can you withdraw money from FXCM?

Yes. FXCM accepts withdrawals via some popular methods, including credit/debit cards, bank wires, and e-wallets like Visa and MasterCard.

To withdraw funds, please log into MyFXCM and click on 'Withdraw Funds'. You can also submit a withdrawal request online by selecting your withdrawal method and clicking 'Submit'.

How much does FXCM charge for withdrawal?

Credit/debit card withdrawal is free of charge, while a $40 withdrawal feewill be charged for all Bank Wire requests.