Forex Capital Markets is one of the largest and most reputed Forex dealers based in New York with international offices all over the globe namely United Kingdom, Japan, Hong Kong, France, Italy, and Australia. Also known as FXCM, the company offers a no-dealing desk model and allows traders to order trade deals directly with banks and other Forex Market players. This Forex dealer also provides multiple trading platforms, Forex training, Forex signal services, and other trade analysis tools. The company is duly regulated, financially solvent, and one of the most trusted Forex dealers among traders and professionals. Here are other important things Singaporean traders should know about the Forex Capital Markets:
The account types FXCM offers
FXCM offers three different account types depending on their traders and investors. These account types are the Standard Account Type, Active Traders Account Type, and Micro Accounts. The Standard Account Type are offered to traders and investors with a minimum capital of $2,000 and can be opened in USD, EUR, GBP, CAD, NZD, AUD, and JYP funds. The Active Traders Account Type is for those holding a monthly volume of no less than $10 million with a minimum capital of $50,000. But they can only open their accounts in USD funds. The Micro Accounts are for beginner traders who can open a minimum capital of $50 on USD funds.
FXCM’s multiple trading platforms
The company prides itself in offering multiple trading platforms such as the widely popular MT4 Trading Platform that is user-friendly and highly customizable. Other trading platforms are TS Mobile, TS Web, Active Traders, and Mirror Traders. TS Mobile is FXCM’s trading mobile app while the TS Web is a trading platform that can be used from a desktop. Active Traders is an exclusive trading platforms for those with an Active Traders Account Type while Mirror Traders is a trading platform that mirrors trades of other professional traders.
FXCM fees and commission structure
The company only charges fees in the form of spread from their investors and traders with Standard and Micro Account Types. They charge commissions from investors and traders with the Active Traders Account Type.
The company’s helpdesk support
FXM’s helpdesk support is available round the clock and has different support platforms in the form of MyFXM (an online trading account), Dealing Desk (an added support team in cases of technical downtimes), and free trading Analysis tools.