image FXCM VISIT FXCM image NordFX VISIT NORDFX image Forex.com VISIT FOREX.COM
About

FXCM is regulated by the Financial Conduct Authority and NFA. FXCM have provided Forex trading services since 1999.

NordFX is regulated by Financial Services Commission of the Republic of Mauritius and has provided forex trading services since 2008.

Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999.

Why choose them?
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 10 years in business
  • Yes
  • Yes
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
Headquarters NY, USA Ebene, Mauritius London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting Yes No No
Social Trading Yes No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 39 80
Commodities Offered 0 12
Stocks Offered 0 220
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks No No Yes
Penny stocks No No No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes No Yes
Dow Jones No No Yes
Dax Yes No Yes
Nikkei Yes No Yes
ETFs No No Yes
IPO No No Yes
See all instruments

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

Losses can exceed deposits

See all instruments

70% of retail investor accounts lose money when trading CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No Yes No
MT4 Mac No No No
WebTrader Yes No Yes
Mirror Trader No No No
ZuluTrade Yes No No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms No No FOREXTrader PRO

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No Yes
Available Languages

English, Italian, Spanish, German, Russian, French, Portuguese, Hebrew, Arabic, Chinese, Japanese, and Urdu

Hindi, Chinese, Arabic, Portuguese, English, Spanish, and Russian

English, Chinese, and Arabic

See platform & features

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

Losses can exceed deposits

See platform & features

70% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by FXCM and NordFX

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No Yes No
Standard account Yes Yes Yes
ECN Account No Yes Yes
Islamic account Yes Yes Yes
Zero spread account No Yes No
VIP account No Yes No
Fixed spreads No Yes Yes
Variable spreads Yes No Yes
See account options

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See account options

Losses can exceed deposits

See account options

70% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access No Yes Yes
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot Varies
Max trade Varies None 5 million
Min deposit $1 $1 $50

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes No Yes
Signal trading Yes No No

FUNDING METHODS

Credit card Yes No Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller No Yes No
Skrill No No No
Payment processing time 1 business day Varies Varies
Withdrawal processing time 1-2 business days Varies 1-2 business days
See all funding options

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

Losses can exceed deposits

See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries No No BE
Contact email Send Email Send Email Send Email
phone number +44 02073984050 No Yes
Live Chat Yes No Yes
Website https://www.fxcm.com/ http://nordfx.com/ http://www.forex.com
Forex Spreads
EUR/USD 0.30 1.00
GBP/USD 0.70 1.00
USD/JPY 0.70 0.90
AUD/USD 0.8 1.2
Cryptocurrency Spreads N/A N/A
View all FX spreads

79.79% of retail investor accounts lose money when trading CFDs with this provider.

View all FX spreads

Losses can exceed deposits

View all FX spreads

70% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 250.0
Nasdaq 100 1 130.0
Euro Stoxx 50 1 4.0
ASX 200
S&P 500 0.5 50.0
FTSE 100 1 150.0
Google N/A N/A
Facebook N/A N/A
View all spreads

79.79% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

Losses can exceed deposits

View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No No No
Commission 0.08% per share charge per side Yes No
Deposit Fee No No No
Withdrawal Fee Varies No No
View All Fees

79.79% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

Losses can exceed deposits

View All Fees

70% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from https://www.fxcm.com/. Last updated on 01/07/2019.

All information collected from http://nordfx.com/. Last updated on 01/07/2019.

All information collected from http://www.forex.com. Last updated on 01/07/2019.

Company

Since 1999, FXCM (AKA FXCM) have become one of the most popular forex brokers, with over 220,000 active accounts. In 2014 alone, their retail trading volume exceeded $4 trillion. If you are looking for a reputable broker with low spreads, FXCM are a great option.

NordFX is an online forex trading service provider who are regulated by the Financial Services Commission. To open an account with NordFX, minimum deposits start from $1.

With NordFX you can trade currencies, stocks, commodities and indices. If you like to trade on the go, NordFX have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

NordFX offer Integral, MetaTrader 5, MetaTrader 4, iPhone/iPad, Android, BlackberryTrader, Mobile, Mobile SE, MultiTerminal, Trading Signals, and ZuluTrade platforms to make your trades and support 11 different languages.

The spreads offered by NordFX for the most popular instruments are:
1.6 EUR/USD, n/a FTSE 100, 5 GOLD,
2.2 GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.

FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday.

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FXCM or NordFX?

Well established or ECN execution?

If you’re a trader looking for a broker that has been established for a long time, FXCM is likely a good choice. However, if you want a broker with ECN execution, NordFX may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider FXCM to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

FXCM is regulated by Financial Conduct Authority, while NordFX is regulated by Unregulated.

As the Financial Conduct Authority are one of the most stringent regulators in the world, FXCM will have very strict guidelines to follow to ensure they protect their retail trader clients.

Forex.com are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

FXCM has been around for 20 years, while NordFX have been around for 11 years. Our third alternative broker, Forex.com, have been around for 20 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both FXCM and NordFX use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

FXCM is a publicly listed company, while on the other hand NordFX is still a privately owned company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

FXCM are based in NY, USA, while NordFX are based in Ebene, Mauritius.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both FXCM and NordFX offer forex trading. FXCM have a slightly larger variety of currency pairs with 39 pairs, compared to offered by NordFX. Also, if you’re looking to trade cryptocurrencies,

If you’re looking to trade commodities like gold, silver or oil, FXCM may be a better fit as NordFX does not offer commodity trading.

FXCM also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both FXCM and NordFX offer this. NordFX also offer the new & improved MT5 platform. Our alternative broker, Forex.com, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. NordFX, for example, offer a mini account, standard account and VIP account.

For Muslim traders, FXCM offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

FXCM does allow scalping and hedging. While NordFX also allows scalping and hedging. You can trade with EAs (expert advisors) on both FXCM and NordFX.

In terms of risk management tools, neither FXCM or NordFX offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

FXCM also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

FXCM accept Payoneer while NordFX accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, FXCM charges 0.30 points, while NordFX charges points. Therefore, NordFX is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: FXCM or NordFX?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, FXCM is more reliable based on our criteria above. FXCM has a wider range of instruments to trade. FXCM offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.