Why was FXCM banned?
FXCM, also known as Forex Capital Markets, is a retail broker for trading on the foreign exchange market. The company was banned from United States markets for defrauding its customers. Its former parent company, Global Brokerage, Inc. filed for bankruptcy on December 11, 2017.
Can I trust FXCM?
FXCM is considered low-risk, with an overall Trust Score of 93 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), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust).
Is FXCM a good trading platform?
This company may be regulated, but they are not honest and you will be wasting your time trading with them because they don’t let you withdraw funds. I have been trading on FXTM for about 3 years now and have made about 300% profit. And finally when I want to make a withdrawal, they obstruct and decline.
Is FXCM legal in Malaysia?
Is FXCM Safe? FXCM is a safe broker for Malaysians to trade with, however, they should be aware of trading with high levels of leverage and low minimum deposits, because this could see their accounts going into a negative balance. FXCM has been a global FX and CFD broker since 1999.
How long does it take to withdraw money from FXCM?
Usually, withdrawals are processed in 1 – 2 business days after we receive the request. Once funds leave your FXCM account, an email is sent titled “Transaction Notification” to the email address on file.
Who regulates FXTM?
the Financial Services Commission of Mauritius
FXTM is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295. You can find out more in our Licensed Broker page.
How safe is FXTM?
FXTM is considered safe because it is regulated by the top-tier FCA. Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider.
How do I withdraw money from FXCM?
To withdraw money from FXCM, you need to go through the following steps:
- Log in to your account.
- Select ‘Withdrawal’ or ‘Withdraw funds’ from the appropriate menu.
- Select the withdrawal method and/or the account to withdraw to (if more than one option is available)
What is minimum deposit for FXCM?
The minimum deposit at FXCM is $50.
| FXCM | Forex.com | |
|---|---|---|
| Minimum deposit | $50 | $100 |