Fxcm - A Review Concerning Fxcm
Fxcm is perhaps the most famous broker in the internet forex broker industry. Because of their fame, Fxcm is a staple name within the forex trading community.
But there were problems they had to face before achieving such success. Fxcm was mixed up with a company that went by the name of Refco in the past. With an estimated value of $75 billion, Refco was the number one commodities broker on the Chicago Mercantila Exchange around 2005.
Refco had with them around $4 billion of their customers deposits. They had purchased a large share in Fxcm at the time. But they collapsed under the weight of an accounting scandal on October 2005. What took place is the hiding of about $430 million in bad debt. And under the weight of this news, Refco collapsed.
The connection Fxcm had with Refco was harmful, but that did not stop them from becoming one of the top online forex brokers. There are many reasons for their success. Firstly, they have proven that they are a financially reliable forex broker with a dependable track record with their clients.
Secondly, they have been marketing their services extremely aggressively worldwide. They advertise especially much via google adsense along with setting up seminars in countless countries. For their micro accounts, they offer perhaps the lowest spreads on the internet. You will never find a 4 pip spread on the Gbp/Jpy given for micro account holders with any other broker.
Low spreads apply to their entire currency range as well. They are not however, fixed spreads. Spreads are subject to fluctuation as and when volatility increases. Expect spreads to increase dramatically during economic data releases.
A very low amount is needed to open an account with fxcm which helps make them very accessible to all traders. $25 is all it takes for a micro account. Anyone can afford that amount. Conversely, they offer very high leverage of 400:1. Their trading software is called the FX Trading Station II and is fairly easy to use. Also, the excellent trading software, metatrader is available for traders of specific types of accounts.
Metatrader 4 is maybe the leading trading platform that is preferred by most traders . Those that prefer metatrader 4 over other software will be pleased. Unfortunately, this option is not available to micro account clients. Free online trading courses and tutorials are also offered to those looking to get into forex trading. A free forex demo account is a standard offering.
They also have their own forex signals for customers which are free or charge. You cannot go wrong with Fxcm as they are one of the more reliable forex brokers with many advantages. - 23200
But there were problems they had to face before achieving such success. Fxcm was mixed up with a company that went by the name of Refco in the past. With an estimated value of $75 billion, Refco was the number one commodities broker on the Chicago Mercantila Exchange around 2005.
Refco had with them around $4 billion of their customers deposits. They had purchased a large share in Fxcm at the time. But they collapsed under the weight of an accounting scandal on October 2005. What took place is the hiding of about $430 million in bad debt. And under the weight of this news, Refco collapsed.
The connection Fxcm had with Refco was harmful, but that did not stop them from becoming one of the top online forex brokers. There are many reasons for their success. Firstly, they have proven that they are a financially reliable forex broker with a dependable track record with their clients.
Secondly, they have been marketing their services extremely aggressively worldwide. They advertise especially much via google adsense along with setting up seminars in countless countries. For their micro accounts, they offer perhaps the lowest spreads on the internet. You will never find a 4 pip spread on the Gbp/Jpy given for micro account holders with any other broker.
Low spreads apply to their entire currency range as well. They are not however, fixed spreads. Spreads are subject to fluctuation as and when volatility increases. Expect spreads to increase dramatically during economic data releases.
A very low amount is needed to open an account with fxcm which helps make them very accessible to all traders. $25 is all it takes for a micro account. Anyone can afford that amount. Conversely, they offer very high leverage of 400:1. Their trading software is called the FX Trading Station II and is fairly easy to use. Also, the excellent trading software, metatrader is available for traders of specific types of accounts.
Metatrader 4 is maybe the leading trading platform that is preferred by most traders . Those that prefer metatrader 4 over other software will be pleased. Unfortunately, this option is not available to micro account clients. Free online trading courses and tutorials are also offered to those looking to get into forex trading. A free forex demo account is a standard offering.
They also have their own forex signals for customers which are free or charge. You cannot go wrong with Fxcm as they are one of the more reliable forex brokers with many advantages. - 23200
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posted by X - Men @ 8:29 AM
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