Is FXCM a safe and trusted Forex broker? How do they protect my funds? Table of Contents
About the FXCM Group – Global Forex and CFD broker since 1999
FXCM Group is a leading provider of foreign exchange (FX) trading services, CFDs, spread betting and related services.
Founded in 1999, the company has as its mission to provide traders, from every corner of the planet, with access to the largest and most liquid market in the world by offering innovative trading tools, using excellent trading instructors, respecting strict standards, and looking for the best online trading experience available on the market.
Clients can take advantage of mobile trading, one-click order execution, and real-time chart trading.
Additionally, FXCM offers FX trading training courses and provides exclusive premium trading tools and resources.
FXCM Pro gives retail brokers, small hedge funds and emerging market banks access to wholesale execution and liquidity while providing mid-and high-frequency fund access to primary brokerage services through FXCM Prime.
FXCM is a Leucadia company.
FXCM’s culture is defined by the people and the three core values FXCM embodies.
- Customer first
- FXCM starts with a focus on clients where specialized expertise, attention to detail and extra action are seen as important aspects of all of FXCM’s interactions.
- Integrity
- FXCM does what’s right for FXCM’s customers, partners, employees and all other stakeholders.
- Agility
- FXCM’s people are agile and comfortable with changing industry trends, business conditions and customer demands. Past experiences and new skills acquired provide the confidence to improve the future.
- FXCM’s aim
- FXCM’s purpose is unchanged in over 20 years of history. Collaborate with FX and CFD traders with every call, click or tap.
- FXCM’s strategy
- FXCM’s strategy is to continue to improve FXCM’s brokerage by making it easier, faster and more satisfying for all parties interacting with FXCM.
1. What does it mean to be a Leucadia company?
Founded in January 2015, after a series of transactions, Leucadia became the majority owner of FXCM.
FXCM benefited from the size and breadth of the Leucadia family of companies, in particular the Leucadia wholly-owned subsidiary, Jefferies.
Strongly committed to FXCM’s success, Jimmy Hallac, CEO of Leucadia, is President of FXCM Group, while Rich Handler and Brian Friedman, respectively CEO and President of Leucadia, both sit on the FXCM Board of Directors.
FXCM’s customers, employees, and shareholders benefit greatly from affiliation with Leucadia.
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2. What is Leucadia? – Financial dimension and strength
Leucadia is the former name of Jefferies Financial Group Inc. (NYSE: JEF) and is part of its merchant banking business.
Jefferies operates the only independent full-service global investment banking firm based in the United States, along with an established merchant banking business with a proven track record.
Jefferies is active in the investment banking, sales of trading services and wealth management sectors through Jefferies Group LLC and various other businesses in its merchant banking portfolio.
3. The partnership between FXCM and Jefferies
By providing information, expertise and execution to investors, corporations and government entities, Jefferies provide FXCM with prime brokerage services.
The relationship between FXCM and Jefferies is another way in which Leucadia / Jefferies helps FXCM improve the service they provide to their clients.
4. Clients are at the center of their thoughts
At FXCM, they are constantly striving to improve the brokerage service they offer its traders – FXCM’s goal is to provide the best possible trading experience.
FXCM constantly strives to provide innovative technology solutions, high-quality quotes, and transparent execution so that FXCM’s traders can orient themselves and invest in the financial markets.
FXCM also offers dedicated customer service available 24/7, with offices in London, New York, Hong Kong, Sydney, and more.
Who are the Liquidity Providers of FXCM?
FXCM Group liquidity providers include global banks, financial institutions, and other market makers.
FXCM Group currently has a number of liquidity providers, including but not limited to: – Barclays Bank, PLC – Citadel Securities LLC – Citibank N.A. – Deutsche Bank AG – FASTMATCH INC – XTX Markets Limited – UBS AG – Morgan Stanley & Co., LLC – Commerzbank and HC Technologie, LLC.
FXCM also has a number of Liquidity providers who provide pricing through the FastMatch Electronic Communication Network.
FXCM Prime Brokers include Citibank N.A. and Jefferies Financial Services, Inc.
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How FXCM integrates price feeds from multiple LPs?
Each liquidity provider offers, through a direct feed, operational buy and sell prices to FXCM.
FXCM’s pricing engine selects the best buy and sell prices, which form the best available spread.
FXCM’s spreads are transparent and among the lowest in the industry.
FXCM is the counterparty to all trades opened by a client.
In no way can a liquidity provider act as artifice or counterparty in the context of a transaction with a client.
Liquidity providers are also ranked based on order rejection rate, spreads, and latency.
FXCM constantly evaluates and monitors the ranking of FXCM’s liquidity providers and takes all appropriate actions, if necessary, aiming to provide the best available price to its clients.
By evaluating the execution performance of FXCM’s liquidity providers together with FXCM’s internal risk management framework, FXCM may offset multiple transactions in bulk.
By keeping themselves and the liquidity providers to such high standards, FXCM strives to provide the best possible customer experience.
Will LPs see my information?
When a trader places an order, FXCM immediately hedges the position.
For example, a buy order in the previous example would go to liquidity provider # 1. 2. For the liquidity provider, all orders are displayed as market orders from FXCM and contain no trader information.
Since your stops, limits and entry orders are invisible to these price providers, FXCM creates an environment free of price manipulation.
When FXCM combines this with no-requote trading, you have the opportunity to trade with confidence in all market conditions, even during key news releases.
FXCM Group Awards
Since its inception, the FXCM Group has achieved industry-wide recognition.
This is accentuated by a long list of awards and accolades for providing brokerage and ancillary services.
The forex and CFD markets are international locations, which include participants from all corners of the globe.
To provide global clients with premium access to the forex / CFD market, the FXCM Group has built an extensive infrastructure of associates and affiliated third parties capable of enhancing the trading experience.
Since 1999, the FXCM Group has been at the forefront of the forex market.
From technology expertise to building savvy solutions, FXCM has garnered many awards and accolades while promoting the advancement of forex and CFDs.
Staying an industry leader in a competitive and rapidly changing environment such as forex can be a challenge.
As evidence of tireless dedication to the client, the FXCM Group is widely recognized as a leading brokerage firm for both retail and institutional clients.
The following list of awards and honors illustrates the FXCM Group’s excellence in providing brokerage and ancillary services:
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Who are the employees of FXCM?
A large number of FXCM employees have worked here for at least half of the company’s 20-year history and can vouch for four important ideals at work at FXCM.
- Diversified work environment
- Diversity is woven into the fabric of FXCM’s company as FXCM relies on very diverse teams of people to enrich FXCM with new perspectives, collaborative solutions, and unconventional ways of thinking. Although FXCM sits on six continents, they come together every day to work as one body.
- Tough people
- FXCM strongly believes that resilience is an important indicator of long-term success for FXCM’s people. Resilient people face events with confidence in spite of significant challenges or changes in the business.
- Transparency
- FXCM is committed to ensuring transparency both internally and externally. Transparency allows active two-way communication with colleagues to exchange ideas and thoughts, gaining mutual respect and trust.
- Meritocracy wins
- FXCM believes in a meritocracy in which the most capable people and ideas have the opportunity to succeed. To achieve this, FXCM promotes an open-door policy that ensures that both people and ideas have direct access to those who can defend their cause.
How FXCM protect clients’ funds
Fund security is FXCM’s priority.
Client funds are held in segregated accounts with major global banks.
Furthermore, FXCM is committed to providing the most complete transparency so that you can understand FXCM’s financial strength.
- Regulation and License
- FXCM EU LTD is a Cyprus Investment Firm (“CIF”) registered with the Cyprus Department of Registrar of Companies (HE 405643) and is authorized and supervised by the Cyprus Securities and Exchange Commission (“CySEC”) under license number 392/20.
- Segregation of Customers’ Funds
- As a CySEC regulated entity, FXCM EU adheres to the CySEC DI87-01 Directive for Safeguarding Client Securities and Funds. FXCM EU complies with regulatory obligations by segregating Clients’ Money, in accordance with CySEC rules, from their own funds, in order to avoid the risk of using such funds on their own account as well as enforcing all the requirements to act honestly, correctly, and professionally. in the best interests of clients when structuring their business so that obligations arising from client money rules are met.
- Investor Compensation Funds
- FXCM EU participates in the Investor Compensation Fund (“ICF”) for clients of Investment Firms authorized in the Republic of Cyprus. The purpose of the ICF is to ensure protected customer complaints against companies through the payment of compensation.
Please click "Introduction of FXCM", if you want to know the details and the company information of FXCM.
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Comment by Diletta
March 26, 2024
Awesome bonuses, good leverage. A few hiccups, but support rocks!