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FOREX.com vs FXCM 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between FOREX.com and FXCM? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FOREX.com ranks more highly than FXCM.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingFOREX.comFXCMXTB
Overall Rating8.7 / 108.3 / 108.7 / 10
Account TypeFOREX.comFXCMXTB
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountYesNoYes
Copy TradingFOREX.comFXCMXTB
Social Trading / Copy TradingNoYesYes
DupliTradeNoNoNo
ZuluTradeNoYesNo
CryptocurrencyFOREX.comFXCMXTB
Cryptocurrency (Physical)NoNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)FOREX.comFXCMXTB
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)FOREX.comFXCMXTB
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentsFOREX.comFXCMXTB
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoYesNo
Social Trading / Copy TradingNoYesYes
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesNoYes
ETFYesNoNo
U.S. Stocks (CFD)YesYesYes
Trading PlatformsFOREX.comFXCMXTB
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)YesYesYes
MetaTrader 5 (MT5)YesNoNo
Regulatory LicensesFOREX.comFXCMXTB
Tier-1 Licenses431
ASIC Authorised (Australia)NoYesNo
IIROC Authorised (Canada)YesYesNo
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)YesNoNo
Tier-2 Licenses233
Tier-3 Licenses101
Research, EducationFOREX.comFXCMXTB
Trading Central (Recognia)YesYesNo
Forex News (Top-Tier Sources)YesYesYes
Daily Market CommentaryYesYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)YesYesNo
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)NoYesYes
Trading CostsFOREX.comFXCMXTB
Minimum Initial Deposit$100Starts from $50$0
Average Spread EUR/USD - Standard1.0 (July 2022)1.38 (Q2 2022)1.07 (Q3 2022)
All-in Cost EUR/USD - Active1.0 (July 2022)1.38 (Q2 2022)1.04 (Q3 2022)
Active Trader or VIP DiscountsYesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolsFOREX.comFXCMXTB
Watchlists - Total Fields20128
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)2035739
Mobile Charting - Indicators / Studies885939
Trust FactorsFOREX.comFXCMXTB
Year Founded199919992002
Publicly Traded (Listed)YesYesYes
BankNoNoNo
Authorised in European UnionYesYesYes
Trust Score999695
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FOREX.com vs FXCM Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FOREX.com vs FXCM.

Can I trust FOREX.com?

FOREX.com has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust FXCM?

FXCM has a trust score of 96, giving it a "Highly Trusted" trust label.

Is FOREX.com a good broker?

Is FXCM a good broker?

FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research โ€“ though pricing at FXM is just average.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FOREX.com is IIROC Authorised (Canada), FSA Authorised (Japan), FCA Authorised (U.K.) and CFTC Registered (USA), while FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) and FCA Authorised (U.K.)., neither have SFC Authorised (Hong Kong), CBI Authorised (Ireland), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FOREX.com is CySEC Authorised (Cyprus) and DFSA / Central Bank Authorised (UAE), while FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa)., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia) and SEC Authorised (Thailand). When comparing tier-3 licenses FOREX.com is CIMA Authorised (Cayman Islands), while FXCM is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms FOREX.com supports a Proprietary Platform and Desktop Platform (Windows), whereas FXCM supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade., neither have cTrader and DupliTrade

Does FOREX.com offer MetaTrader? Does FXCM offer MetaTrader?

For MetaTrader FOREX.com provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while FXCM provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do FOREX.com and FXCM differ in terms of minimum deposit? What about average spreads and funding options?

FOREX.com requires a minimum deposit of $100, while FXCM requires a minimum deposit of Starts from $50. From our testing we found FOREX.com offers spreads of 1.0 (July 2022), while FXCM offers spreads of 1.38 (Q2 2022). FOREX.com supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, FOREX.com or FXCM?

FOREX.com offers a more diverse selection of investment options than FXCM allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, FOREX.com has 5500, compared to 441 from FXCM.

Can I trade cryptocurrency with FOREX.com or FXCM?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither FOREX.com nor FXCM allow you to trade physical cryptocurrencies.

Who offers more research tools, FOREX.com or FXCM?

In terms of research and research tools FOREX.com gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison FXCM has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

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