Best FXCM Alternatives

logomark Anthony Gallagher calendar Last Updated: November 2021 timer 4 min read
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FXCM is a pioneer in online trading, offering forex trading, CFDs, stocks, commodities, indices, and spread betting.

The company’s primary aim when it was founded in 1999 was to provide worldwide traders with access to the world’s greatest liquid market through innovative trading tools and the help of excellent trading educators, all while operating under tight financial rules.

You can learn more about the broker in our FXCM review.

As a trader, everyone has their own requirements, and they compare each broker before taking the plunge. Therefore, you many look for FXCM alternatives in your quest for forex broker.

Here you can look at why we have chosen such brokers as an alternative to FXCM:

FXCM Alternatives Alternative for: Minimum Deposit
IC Markets Low spreads, PAMM Account $0
Pepperstone Spread Betting, Scalping, PAMM Account $0
Plus500 Unlimited demo and Great number of assets $100
eToro Copy Trading and Real Stocks and ETFs Trading $200
XTB Wide range of assets, Low Spreads $1
CMC Markets Spread Betting, Unlimited demo, number of assets $0
Admiral Markets Real stocks and ETFs Trading $100 ($1 Invest Account)
Markets.com Spread Betting, Unlimited Demo $100
Oanda Spread Betting, USA availability $0
Forex.com Regulation in the USA and Canada, fixed spreads on commodities $50

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Table of contents

FXCM Low Spread Alternatives

In forex, each price moves matter, therefore, you want lowest spreads possible. The spreads becomes more important espeically if you are a scalper, where anayhting can happen in a blink of an eye.

Before digging deeper, checkout our list of top 10 low spread forex brokers.

Broker Minimum Deposit Avg. Spreads EUR/USD
IC Markets $0 0.13 pips
Pepperstone $0 0.09 pips
XTB $1 0.9 pips
Admiral Markets $100 ($1 Invest Account) 0.1 pips

FXCM Copy Trading Alternatives

With FXCM, you can copy the trades of other traders and apply into your trading. However, you may have a second thought and don’t want to copy tarde with them. So, you can take a lok at top 10 copy trading best platforms.

Broker Minimum Deposit Copy Trading Platforms
eToro $200 WebTrader
IC Markets $0 ZuluTrade
Pepperstone $0 DupliTrade, myfxbook

FXCM Spread Betting Alternatives

If you don’t want to own the underlying assets with FXCM, you can always look for the top 10 UK spread betting forex brokers.

Broker Minimum Deposit Minimum Bet
Pepperstone $0 £0.2 pips
CMC Markets $50 50p per point for indices, FX and commodities; £1 per point for most shares; 10p per point for US shares
Markets.com $100 N/A
Oanda $0 0.0001p

FXCM CFD Assets Alternatives

With FXCM CFD assets, you can tarde the underlying asset without owning it. However, maybe your trading appraoch requires you to own more CFD assets. So, below you can find FXCM CFD alternatives.

Broker Minimum Deposit Number of assets
Plus500 $100 2000+
Forex.com $50 300+, including 200+ shares

Choosing a FXCM Alternative: main perks and characteristics

FXCM is suitable for every type of trader.  Beginner traders can benefit from FXCM’s Standard account’s lower deposit requirement and access to ZuluTrader, which allows users to browse and mirror the positions of market professionals listed on the platform.

Experienced investors who have developed a strategy based on a wide range of plugins and tools will benefit the most from the FXCM platform. Because of the variety of platforms and tools available, expert traders are best served by FXCM’s focus on combining value-added services and resources.

If you are interested to know more about the forex brokers, you can take a look at our FXCM review.

What is FXCM missing?

With minimum deposit of $50 and low spreads, FXCM provides trader with a good start. However, as with other brokers, it has its flaws. You can check our review of top 10 best forex brokers.

Here’s what FXCM is missing:

FXCM Alternatives Comparison

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Feature Minimum Deposit Spread Betting Low Spreads from 0 pips Copy Trading Execution
FXCM $50 ($300 for UK and EU traders) Yes No Yes DMA
IC Markets $0 No Yes Yes ECN
Pepperstone $0 Yes Yes Yes ECN/STP
Plus500 $100 No No No Market Maker
eToro $200 No No Yes STP
XTB $1 No Yes No Market Maker
CMC Markets $0 No No Yes DMA
Admiral Markets $100 ($1 Invest Account) No Yes No ECN/STP
Markets.com $100 Yes No No Market Maker
Oanda $0 Yes Yes No Market Maker
Forex.com $50 No No No STP-DMA

FXCM Alternatives FAQ

What is FXCM’s best alternative?

FXMC’s best alternative is IC Markets. Taking into consideration specific trading features: for scalping the best alternative is IC Markets, for copy trading is eToro, for Spread Betting is Pepperstone and for CFD assets’ number and types is Plus500.

What is the difference between FXCM and Oanda?

The main difference is their execution model type, since FXCM is a STP broker, while Oanda is a Market Maker broker.

 


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About the Author

Anthony Gallagher

Broker Expert

Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world.

A trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.

He is a keen golfer with a very high handicap so when not helping you find the best broker for your needs, you may find him on the course or just as likely following any number of sports from the comfort of his sofa.


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