IFX Brokers Review is iFXBrokers Scam or Legit Read Before Investing.

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FXCM Review

While its range of tradeable markets is narrow and pricing is just average for everyday trading, FXCM caters to multiple trader types. High-volume traders, algorithmic traders, and, overall, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a good fit.

Top Takeaways for 2020

After spending five months testing 30 of the best forex brokers for our 4th Annual Review, here are our top findings on FXCM:

  • Founded in 1999, FXCM is a subsidiary of a public-traded company (NYSE: JEF). FXCM is regulated in three tier-1 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.
  • In our testing, FXCM earned Best in Class (top 7) awards across six categories, including Platforms & Tools, Mobile Trading, Education, Customer Service, Social Copy Trading, Education, and Ease of Use.
  • FXCM offers a very narrow selection of tradeable products. Alongside 39 currency pairs, FXCM offers only 32 CFDs, which includes no single-stock CFDs. We also found commissions for everyday forex and CFDs trading to be just average.

Overall Summary

Feature FXCM
Overall 4.5 Stars
Trust Score 92
Offering of Investments 3.5 Stars
Commissions & Fees 4 Stars
Platform & Tools 4.5 Stars
Research 4.5 Stars
Mobile Trading 4 Stars
Customer Service 4.5 Stars
Education 4 Stars

Is FXCM Safe?

FXCM is considered low-risk, with an overall Trust Score of 92 out of 99. FXCM’s parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust). FXCM is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC). Learn more about Trust Score.

Feature FXCM
Year Founded 1999
Publicly Traded (Listed) Yes
Bank No
Tier-1 Licenses 3
Tier-2 Licenses 2
Tier-3 Licenses 0
Trust Score 92

Offering of Investments

The following table summarizes the different investment products available to FXCM clients. While FXCM’s launch of several tradeable baskets (e.g., JPYBasket, EMBasket, USEquities, and CryptoMajors) was a welcomed addition in 2020, the removal of the mini account option and the reduction of total CFDs from 313 to just 32 restricts FXCM’s product range offering as a multi-asset broker. No single-stock CFDs are offered at FXCM.

Feature FXCM
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 39
CFDs – Total Offered 32
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

FXCM shines most in its Active Trader account offering, where low commission rates and average spreads provide competitive pricing for high volume traders.

Spread data: Using the time-weighted average tradable prices from April 1, 2020, to June 30, 2020, all-in spreads for Standard accounts at FXCM are 1.3 pips on pairs such as the EUR/USD and USD/JPY.

Pricing discounts: Active Trader accounts are available for clients that deposit at least $25,000, which comes with a lower commission rate of $25 per million and access to premium research. For example, Active Trader accounts incur as little as £4 per standard round-turn lot (£2 per side) on the EUR/USD pair. Therefore, the all-in cost after commissions is roughly 0.45 pips (based on average spreads of 0.2 pips using the above referenced period).

Other notes: Standard account holders are only charged the prevailing spreads, whereas Active Trader accounts are charged a commission per trade, in addition to reduced prevailing spreads. Also, dealing desk accounts (e.g., Standard Accounts) are not subject to the FX Commission pricing model at FXCM, and thus may include a markup in the case of an intermediary (introducing broker), as per FXCM UK’s November 2020 rate card.

Feature FXCM
Minimum Initial Deposit £300
Average Spread EUR/USD – Standard 1.3 (as of Q2 19)
All-in Cost EUR/USD – Active 0.7 (as of Q2 19)
Active Trader or VIP Discounts Yes

Platforms & Tools

FXCM sets a high bar. The broker offers a growing range of trading platforms and tools for algorithmic trading, including its Trading Station platform and third-party platforms such as MetaTrader4 (MT4), ZuluTrade, and NinjaTrader (desktop-only), which are accessible via desktop, the web, and mobile.

Trading Station desktop: FXCM’s flagship trading platform, Trading Station, caters well to forex traders of all skill levels. One highlight is the Marketscope 2.0 charting tool within the platform, which is a powerful charting package that runs in parallel to the main platform window.

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Trading Station web: The web version of Trading Station runs smoothly and comes with a respectable array of features, including news, videos, research, market data signals, and links to external resources. Charts pack nearly the same number of indicators as the desktop, with 50 available, and the platform’s 18 drawing tools were generally easy to use. Pros aside, our testing did surface a few minor usability issues while trying to resize windows or open a widget into full-screen mode; however, they were hardly a deal-breaker.

Ninja Trader: It’s worth noting that the NinjaTrader platform from FXCM features numerous trading tools, including automated trading capabilities. For example, trading strategies and indicators can be created from scratch using NinjaScripts. While NinjaTrader doesn’t come pre-loaded with trading strategies, users can either make their own or use third-party-developed NinjaScripts, similar to how the MT4 platform operates. The platform also has a market replay and analyzer tool alongside over 150 indicators.

Algorithmic Trading: The FXCM App store provides various add-ons, technical indicators, and automated trading robots. FXCM supports Trading Station, MetaTrader 4 (MT4), and NinjaTrader platforms, as well as access to third-party products and platforms such as ZuluTrade and the Seer Trading Platform for algorithmic trading. There is a dedicated technical support team to assist traders in developing their MT4 Expert Advisors (EAs). The team will even help code strategies for clients for a nominal fee.

Research

FXCM provides a wide variety of market research and related resources. Overall, it isn’t award-winning, but it will satisfy the majority of forex traders.

Research tools: FXCM’s research tools include premium content from Trading Central, news headlines from Investing.com, as well as a market screener tool and a pattern-recognition scanner developed in conjunction with Grid Sight Technologies LTD, which is made available as an indicator.

Educational content: It’s worth noting that FXCM has done an excellent job of incorporating instructional information into its research, including webinars and its educational program. For less experienced algorithmic traders, FXCM’s Quant News offers webinars, videos, and news articles.

Mobile Trading

Thanks to the combination of Trading Station and MetaTrader4 (MT4), FXCM delivers a reliable, feature-rich mobile offering for forex traders, including algorithmic trading. Advanced features, such as a comprehensive trade ticket, offer advanced order types, including one-cancels-other (OCO) orders.

Mobile charting: With nearly 60 indicators and multiple drawing tools, charting in the FXCM mobile app is a pleasure. Trend-lines can be drawn with precision thanks to a magnifying glass that auto zooms while dragging the trend-line into position.

Mobile watch list: While the Trading Station mobile app may appear to lack a watch list, it is worth noting that any instruments selected to be shown will, in fact, sync across devices.

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 330 customer service tests were conducted over six weeks.

Results

  • Average Connection Time: rd (22 brokers)

Final Thoughts

FXCM is an excellent choice for active forex traders thanks to competitive spreads, as well as traders seeking to use automated trading strategies. All of FXCM’s platforms offer traders the ability to run algorithmic trading and access advanced charting tools. Overall, in 2020 FXCM finished Best in Class across six categories, including Platform & Tools, Customer Service, Education, Mobile Trading, Ease of Use, and Social Copy Trading.

About FXCM

Since 1999, FXCM, also known as Forex Capital Markets, has been a pioneer in developing online forex offerings for retail traders. With its headquarters in London, FXCM has grown to have multiple international offices and is licensed in several major regulatory hubs globally.

After its exit from the US market in 2020, FXCM no longer accepts US clients. Today, FXCM operates as a subsidiary of Jefferies Financial Group Inc. (NYSE: JEF), formerly known as Leucadia. Read more on Wikipedia about FXCM.

FXCM Trading Features

Feature FXCM
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting – Indicators / Studies (Total) 51
Charting – Drawing Tools (Total) 31
Charting – Trade From Chart Yes
Watchlists – Total Fields 7
Order Type – Trailing Stop Yes

FXCM Research Features

Feature FXCM
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist Yes
Trading Central (Recognia) Yes
Delkos Research No
Social Sentiment – Currency Pairs Yes
Economic Calendar Yes

FXCM Mobile App Features

Feature FXCM
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting – Indicators / Studies 30
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable Yes
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave Yes
Forex Calendar Yes

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

MTrading Review

Overview

A Forex broker MTrading provides services to traders around the world. It has a good reputation and offers favorable terms of trade.

Details

Broker MTrading
Website URL www.mtrading.com
Founded 2020
Headquarters Belize, Belmopan, Mountainview Boulevard, Garden City Plaza, Office 5
Support Number +7-495-268-14-61
Support Types Chat, phone, email
Minimum 1st Deposit $100
Minimum Trade Amount $1
Bonus Bonus up to 50%
Leverage 1:1000
Spread from 0 points
Free Demo Account Open Demo
Regulated
Regulation IFSC (№ IFSC/60/270/TS/14)
Account Types Demo, M.Premium, M.PRO
Deposit Methods Bank cards, MasterCard, Visa, Skrill, Webmoney, QIWI Wallet, Neteller, etc.
Withdrawal Methods Bank cards, MasterCard, Visa, Skrill, Webmoney, QIWI Wallet, Neteller, etc.
Number of Assets 100+
Types of Assets Currencies, commodities, CFDs for metals, energy, indices, stocks, crypto-currencies (Bitcoin, Ethereum, Litecoin, Ripple, etc.)
Account Currency USD, EUR, RUB
US Traders Allowed
Overall Score 3/10

Full Review

Of course, you’d like to know whether MTrading is a scam or a trustworthy company you should stick with. We’ll answer this question below.

Working since 2020, MTrading has already managed to show its strengths. Its offices operate in the Asia-Pacific region, Africa and South America. The company provides instant support for traders around the world. For successful trading in the financial markets, the company offers high-quality services and up-to-date software solutions. The broker has introduced the Electronic Communications Networks system (ECN), which guarantees better execution of orders and reduces the likelihood of slippage in trade. The company works with segregated accounts, which ensure the safety of investments from force majeure.

Traders can access online trading in currencies, crypto assets, metals, indices, and shares as well as energy carriers (oil and gas). The company boasts favorable working conditions (accurate quotations, one of the best spreads on the market, competitive deposits, and various methods of withdrawal), information support, and professional services. All of this is designed to make trading comfortable for both professionals and newcomers. Traders can make use of one of the best MetaTrader 4 platforms, which is excellent and easy to use. It can really improve the overall efficiency of your trading. You can also work in mobile versions of these trading terminals.

Special attention is paid to the security of the platform, so it’s no wonder that many traders highly praise its reliability. MTrading ensures the automatic trading of advisers. With the help of the MACI program, you can generate revenue by using auto-copying of successful traders’ deals. It’s also possible to open accounts to invest in the MAMI.

The site of the broker is highly informative. It provides enough materials about the terms of trade, terminals and affiliate programs. The company also offers expanded opportunities for training, proving that it’s truly interested in the growth of financially literate consumers. The website presents a lot of books, video lessons, seminars, webinars and actual analytics from professionals.

Replenishment and withdrawal of funds

MTrading offers different options for replenishment and withdrawal of funds. To start real trading and replenish your trading account, you need to register with the broker (registration is very fast) and deposit the required amount by choosing a convenient method of transferring funds (the minimum deposit is $10). To deposit funds, you can use an expanded list of modern payment options – from conventional credit cards to electronic payment systems:

  • Bank transfers
  • Plastic cards (Visa and mastercard)
  • Skrill
  • Webmoney
  • QIWI Wallet
  • Neteller, etc.

Funds are available for trading right after payment (if you work with electronic payment systems). The withdrawal of funds is possible only for authorized and verified traders, and withdrawal is carried out within 24 hours (electronic payment systems).

Complaints about MTrading

Despite the fact that the broker is very young, the Internet contains a lot of reviews about its work. Some traders note the positive aspects of cooperation with the company: the provision of professional analytics, profitable trading conditions, a wide selection of assets, and low spreads on the market. Besides this, customers also note a simple, quick verification procedure, an ability to copy transactions, and good performance of the MT4 terminal.

There are also negative reviews, which mostly relate to the following problems: issues with the terminal (lag, freezes), problems with the support service (long processing of applications, managers often don’t respond to requests), and problematic withdrawal of funds, including bonuses (long withdrawal, refusal of withdrawal without an explanation of the reasons). As for positive things, it should be noted that the company’s managers work with feedback, trying to reduce the negative aspects and resolving the users’ problems.

If we find complaints about MTrading, we will post it on social media. Follow us to be well informed:

Is MTrading a scam?

Regardless of the fact that MTrading is one of the youngest brokers in the Forex market (here you can learn the whole truth about Forex), the company has already demonstrated its good reputation. It has achieved great success, providing a wide range of financial services and some of the most favorable terms for trading and having a large base of traders around the world, which is constantly increasing.

The Internet already offers different reviews about the company, both positive and negative. The company’s managers keep track of the comments and sort out the claims, which shows that the issue of customer satisfaction is of great importance to the company. All of this suggests that MTrading isn’r a scam. It’s a serious organization that has come to the Forex market to take a strong position. One of the factors of the broker’s positive image is the provision of a reliable Metatrader terminal for trading.

As an advantage, we note the availability of bonuses, professional support and an extensive base of training materials – in many respects the company demonstrates a thoughtful policy of working with the users. The availability of the MTrading certification is also a significant step toward earning the trust of the clients. Should we consider MTrading to be a scam? At this stage of the company’s development, we think it’s too early to draw such conclusions, but you can protect yourself by working properly with your personal manager.

Regulation of the broker

The activity of this broker is regulated by the IFC International Financial Services Commission IFSC of Belize (No. IFSC/60/270/TS/14), which guarantees the security of trade. Please note that membership with the broker is suspended due to the prolongation of the contract; information on this issue can be monitored on the IFSC website.

Bonuses from the broker

Each trader of the company can count on a 50% bonus.

The bonus is valid for the first deposit. It allows you to receive additional funds for trading on the broker’s site. Detailed conditions for the bonus should be specified by the personal manager.

Conclusion

Forex Trading Broker MTrading is a young company that has already earned high ratings as one of the leaders of Forex trading. It provides high-quality services and profitable terms of trade. The broker has a large base of traders and different reviews. We can say that the company is actively developing. The company’s experts keep monitoring reviews on the Internet, which proves that the company is eager to learn the opinion of its users. We hope that discussions on the thematic forums will contribute to further improvements in the services provided.

We should also note that MTrading has not completely shown itself yet, so it’s too early to evaluate it as a reliable or fraudulent company. However, the responses of traders who are waiting for this article can not only change the broker’s rating on our web portal but also warn market players of possible problems.

Reviews

Ive had a bad trading experience with a slum broker a couple of months ago. Its was impossible to get a withdrawal after several attempts. I hired a recovery solution firm to get my money back.

MTrading is an average broker, but I personally give it a much higher rate. It’s very comfortable to trade with, there are approximately 100 different assets, and you can always use analytical materials that are presented in the most convenient way. Spreads are narrow floating and are from 0 for some assets. And even crypt spread starts from 2%. The broker provides a leverage of up to 1:1000 and 1:5 for crypt. I used to think that it’s pointless to use CFD for crypt, but recently MTrading canceled crypt expiration and you can keep orders open for a long time. This helps sometimes at least not to lose on the fall. Of course, it’s necessary to monitor the margin and control the stop loss. Crypt short positions swap is 10% and long positions swap is 30%. I trade with currency pairs, crypt and shares there. But I think this broker has not enough shares. There’s only about fifty. Everything has always been fine with funds withdrawal.
It was a surprise for me to see someone saying that MTrading doesn’t pay. My acquaintances and I have no problems with funds withdrawal on MTrading. I don’t know, maybe he hasn’t passed the verification or he is from India?

Real Forex brokers reviews

To conduct successful trading, you need to find a reliable intermediary. Forex brokers reviews from other traders will help you successfully cope with this task. It is important to emphasize that real people publish them. Thanks to this, you get the accurate “first hand” information about the brokers you are interested in. Successful traders recommend first reading them and only then starting to work. Comfortable search engine allows to quickly find Forex brokers reviews at any convenient time.

What broker you want to write a review about?

Comment: All these binary options, trading and cryptocurrency companies are scams, I lost a huge amount of money. Things have turned out good for me, being that I was able to recover my money thanks to a recovery pro. You can reach me if you’re interested in finding out how I recovered everything I lost. Rachelmillr4 gmai,l dt com

Advantages: Fast withdrawal, copy-trading opportunity

Disadvantages: Haven’t noticed yet.

Comment: I can’t say there’s any fabulous conditions here, everything’s standard. But as I mentioned above, everything works fine, I can freely use the capital and leverage to multiply it myself or difersify the risks by investing a part of the capital in copy-trading.This is my freedom and my ability to achieve my goals.

Advantages: Great mobile app.

Disadvantages: Lost it on a big leverage.

Comment: I trade only from my phone, so I am primarily interested in the mobile application. In aafx it was made as qualitative as possible, everything flies, there are no limits on the number and volume of orders.

Advantages: Warnings on investment

Disadvantages: No disadvantage

Comment: Warning to everyone with the plan of investing in any online investments schemes .There are certain limitations to investing in these schemes and also difficulties getting it tripled after a long while since 60% of these online investments schemes are scammers . I got involved with a company called “CryptoNXT” trading cryptocurrency but before I engaged with them, I mentioned to my account manager(Ross Malone) assigned to me by CryptoNXT, at one point about my dilemma with Click’s Dealer. He said it was absolutely a scam and he even knew some of the names of people I had dealt with. He said their web site, “Clicksdealer”, was a fraud and that my only hope was to try through Chase to get my money back Not knowing My experience with CryptoNXT Account manager Ross Malone would be a terrible experience for me. I started with an Initial sum of $300, this got me some trades winnings and a huge profit but at the end of it all, I ended up at the losing ends. I ended up losing all my hard earned savings, 180,000 USD which was meant to sustain me when I’m retired. I don’t know if I have a leg to stand on here. I am sure that somewhere along the line I agreed to Terms and Conditions which usually state that investing is a risk and there are no guarantees as to the outcome of my investments with them. Maybe that lets them off the hook. I just know I was lied to about the performance of my account every time they called asking for more money. The whole thing took a wrong turn right in my presence. I had cold foots immediately they pulled a fast one on me that i lost my funds to bad trades. I made a promise to myself to try every avenue I can to get back this money, though I think the odds are pretty slim, I saw some Good reviews of RAPIDASSETRECOVERY dotcom; A Consultancy And Recovery Firm that has helped certain victims get a refund from these Unregulated brokers. I decided to use them and all I can say is contacting them was the best decision I made all my lifetime. These scams will keep going on and on for a very long time. We can only do some good to ourselves by getting some enlightening on how to point them out. Be safe out there everyone.

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