Forex.com is a kind of broker having a range of choices for CFD and Forex traders across its controlled offerings worldwide. This broker has diverse trading tools, full-feature platforms, and comprehensive research intended to cater for the needs of different traders, despite the kind of experience they possess.
FXCM i.e. Forex Capital Markets refers to a retail adventitious exchange broker situated in London, United Kingdom. Most traders that seek a wide array of trade-automation facilities utilize the services of FXCM since the broker provides a substantial suite of platforms as well as Forex trading solutions. Despite the fact that FXCM has a narrow range of tradeable markets, the broker does not only cater well to the high-volume traders, but also those who focus on the most famous CFDs and FX pairs.
However, as a trader, whether you will consider collaborating with FXCM or Forex.com, be assured that online trading is not a guarantee that you will earn enormous returns. Though chances of getting higher profit outcomes are high with online trading, chances of getting huge losses are also extensive. Therefore, despite the kind of broker you choose to entrust with your trading needs, it is vital you do a proper research on the foreign exchange market so that you can come out with your own tricks which will help you significantly minimize losses and maximize profits when trading online.
Also, although the prime motive of any broker is to assist their clients to trade successfully, there are different kinds of brokers with varying terms of operation. It is therefore important you check the terms of service of the different brokers available so that you can figure out the one having top-notch solutions that suit your trading needs better. Here are some factors about Forex.com and FXCM that can help you figure out what broker to choose between the two:
Forex.com Vs FXCM
General Overview of Forex.com and FXCM
FXCM and Forex.com are brokers controlled in a prime hub, and they are publicly traded firms. However, Forex.com offers 45 more currency pairs than FXCM; with the latter providing 84 currency pairs while the latter 39 currency pairs. However, both of these brokers have trading systems that are easy to use and their customer care is great and reliable.
- Trading Platforms
Forex.com provides its clients with three trading platforms i.e. ForexTrader Pro, MetaTrader4 and Tradable platforms. The platforms of this broker combine flexibility, ease of use, and a range of expert charting as well as order management tools.
FXCM offers its clients with more trading platforms than Forex.com. The trading platforms of the broker are FXCM Trading Station, Active Trader (Currenex), Ninja Trader, Mirror Trader, and MetaTrader.
- Methods of Payment
FXCM offers its clients several payment alternatives which include Paper Cheque, Credit card, Bank Wire, and ACH payments. ACH payments refer to electronic payments which are made when customers give an originating institution authority to directly debit from their respective saving or checking account for purposes of bill payment.
Forex.com only offers two payment alternatives i.e. Bank Wire and Debit/Credit Cards. The broker only accepts USD, CAD, EUR, CHF, YEN, NZD, GBP and AUD deposits.
- Minimum Initial Deposit
FXCM offers two Standard Accounts. As a trader that chooses to collaborate with FXCM, the minimum amount of money you will have to deposit in the first FXCM Standard Account in order to begin trading is 50 USD. In this account you will have a minimum lot size of 1k and maximum leverage of 1:400. However, if you will choose the other FXCM Standard Account, the minimum amount to deposit will be 2,000 USD, and this account has a minimum lot size of 1k and maximum leverage of 1:200.
FXCM broker also has another account known as FXCM Active Trader Account. This account requires a minimum deposit of 25,000 USD and it possesses a minimum lot size of 1k and maximum leverage of 1:200.
Forex.com has two accounts i.e. standard and mini accounts. The standard account requires a trader to deposit 2,500 USD and it has a minimum lot size of 100k and maximum leverage of 20:1 Minors, 50:1 Majors US; Up to 200:1 AU and UK only.
- Spread and Commission
FXCM has a variable spread from 0 pip on the EUR/USD and charges a commission of 4 USD per any standard lot traded.
Forex.com has variable spread of 1:1 pips. The commission of this broker is in form of compensation attained via the ask/bid spread.
Bottom Line
Based on the aforementioned factors, you should now be aware that FXCM and Forex.com have different terms and conditions of service. It is vital you use these factors to figure out who to choose between the two brokers when the need arises. However, despite the broker you go with, make sure you trade wisely and utilize other online based trading options that will help you reduce the chances of encountering losses and increase the possibilities of earning enormous returns when trading.
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