FXCM Review 2023 Verified Customer Reviews

The spreads are either fixed or variable and begin at 1.5 pips for major currency pairs. The minimum transaction size is one micro lot, i.e. 1,000 currency units. I’m sorry to hear you had a poor experience with our client support team. We take client feedback very seriously and appreciate you taking the time to leave a review.

Any technical issues that impacted trades will be reviewed as well. Thank you for taking the time to leave a review and help us correct this mistake. You need to be 18 years of age to open an account with Oanda. FOREX.com, part of GAIN Capital, is a forex broker regulated by the IIROC in Canada.

Best Alternate in Canada for FXCM

Negative balances for cash and registered accounts come with heavy interest penalties. If you have a cash balance of more than $2 million, you’ll also earn interest https://forex-review.net/fxcm-review/ at a credit rate of 0.10%. While QTrade commissions are higher than Interactive Brokers and Questrade, they are discounted compared to the big banks.

• While we are independent, we may receive compensation from our partners for featured placement of their products or services.
• Withdrawals can also be made back to your PayPal account, debit card, or bank account via wire transfer.
• Although, there are additional locations, for instance in Berlin.
• When opening a Standard account with FXCM, a minimum deposit of £5,000 would be required.

You can trade some investment types commission-free, such as mutual funds and IPOs. Automatic dividend reinvestments through TD’s DRIP are also commission-free. Automatic option assignments and exercises are charged $15, while manual option exercises come with a commission of $43. FXCM Group is a global leading provider of online Forex, CFD and other trading related services. With this in mind, FXCM’s mission is to provide increasing levels of quality pricing, transparency and execution services to its traders.

CIBC Investor’s Edge Margin Rates

However, the Canadian IIROC is additionally, to a particular extent, supervised with the control and monitoring of the broker. It’s positive for investors that the broker FXCM may be a member of the so-called Financial Services Compensation Scheme, British deposit insurance. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Wood-fired oven with refractory floor, light and easy to handle. It quickly reaches operating temperature and its door includes a window to allow you to inspect cooking as it goes along.

• As for regulation, it’s done by the United Kingdom Financial Regulator.
• Once you have a balance in USD, you can use it to purchase USD-denominated stocks commission-free.
• Capterra is free for users because vendors pay us when they receive web traffic and sales opportunities.
• If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period.

Friedberg Direct has partnered with global brand FXCM to give Canadian investors the chance to trade in foreign currencies and contracts for difference (including indices and commodities). It works primarily with its proprietary “Trading Station” platform as well as the ever-popular MetaTrader 4 platform. Additionally , there’s the somewhat limited trade offer in terms of the available markets. We have participated in the live trading webinars several times and found them very interesting. We appreciate feedback and someone will reach out to you directly for how you may be able to lower your total transaction cost.

Is Forex Trading in Canada Legal?

While we do take client security extremely seriously we are sorry to hear you had a poor experience. We are always trying to improve our client experience and appreciate your feedback for how we can do better. Their service are very professional, and helped me a lot with platform and trading related questions. Trading station app is a great tool, a lot of indicators already built in and chart is useful for technical analysis.

Further analysis of the maintenance status of fxcmpy based on released PyPI versions cadence, the repository activity, and other data points determined that its maintenance is Inactive. A security vulnerability was detected in an indirect dependency that is added to your project when the latest version of fxcmpy is installed. Friedberg Direct offers a number of different trading options, depending on what you’re interested in.

Broker Profile

# To get started with the the API and the package, a demo account with

FXCM is sufficient. You can connect your project’s repository to Snyk to stay up to date on security alerts and receive automatic fix pull requests. By using this site, you are agreeing to security monitoring and auditing. If you are unsure you should get independent advice before you apply for any product or commit to any plan. Friedberg Direct has rigorous privacy and data control policies in place to protect your personal and financial information. This means that you don’t need to worry about your personal information or investment history falling into the wrong hands.

IB is a great option for pro traders due to the wide variety of markets available. In addition to stocks and options, you can trade futures, futures options, forex, bonds, and funds. On top of all this, IB has some of the lowest margin rates in the industry. This means that you can borrow money to invest and trade at low interest rates. There’s also no minimum account balance or inactivity fees for individuals.

By now the rest is pending until today (5 business days later) and NONE OF THE REPS gave me a satisfactory answer on the why this hasn’t being credited yet AND in bits and pieces. Promises made by rep CEDE and other team members were as empty as much of their services. An e-mail I sent to the admin at fxcm.co.uk account is still unanswered. Too many lose ends if you ask me and if you’re in for serious money management. I CAN NOT ADVICE YOU FXCM if you like to sleep well at night. Operating through the IIROC-regulated Friedberg Direct, FXCM offers forex, indices, and commodity trading on margin.

It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Below is a brief run-through of the details regarding the mentioned account types.

We will reach out directly to address the problems you experienced. CIBC offers one of the lowest fees for assignments and exercises of option positions, with the fee for auto assignments being just $6.95 plus $1.25 per contract. Manual exercise requests will be charged at $6.95 per request. For example, Interactive Broker’s snapshot data costs $0.01 per data request for NYSE and NASDAQ and $0.03 per data request for all other markets, with $1.00 of data quotes being free every month. Some in the trading community may express that FXCM is a good broker, while others may express otherwise.

Oanda charges lower financing costs when compared to margin interest rates at some Canadian brokerages. For example, as of July 13, 2022, the annual long rate for the S&P 500 was 4.03%. While that’s higher than brokers like Interactive Brokers, it does give you access to leverage not offered by other brokers. The V.I.P. account (or Active Trader account) is available to FXCM’s clients, who have deposited a minimum of £25,000 ($32,921.62 approx.). The V.I.P. account features tighter spreads and commissions as well as some of the best ECN conditions and account manager access. When opening a Standard account with FXCM, a minimum deposit of £5,000 would be required.