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FX Global Markets Review
FX Global Markets is a currency trading platform. They provide traders with access to key markets such as currencies, indexes, commodities, and stocks. They are one of the brokers that offer cryptocurrency CFDs to traders interested in cryptocurrencies such as Bitcoin.
- Established in 2011
- Segregates client funds
- Min. deposit from $200
- Regulated by Financial Conduct Authority, CySEC
- Inactivity Fee
- Doesn’t allow scalping (See alternatives)
- Not ASIC Regulated (See alternatives)
- Limited range of instruments
A minimum deposit of $200 is required to create a live account with FX Global Markets. They also provide a demo account that you may want to use to test and become acquainted with their platform.
Regulated by the Financial Conduct Authority in the United Kingdom (FRN: 593528) and CySEC (Licence: 161/11), they places all customer money in separate bank accounts with tier-1 institutions. FX Global Markets was founded in 2011.
Before we get into the specifics of FX Global Markets’ spreads, fees, platforms, and trading tools, you might want to open their website in a new tab by clicking the button below in order to see the latest information directly from them.
Full disclosure: If you join up with a broker through one of our links, we may get a commission.
What are the spreads and costs at FX Global Markets?
FX Global Markets, like most brokers, charges a fee based on the spread, which is the differential here between buy and sell price of an asset.
The commissions and spreads shown here are present on the FX Global Markets website’s minimum spreads.
|Forex||FX Global Markets||City Index||XTB|
|EUR/USD(Average: 0.7 pips)||4 pips||0.7 pips||0.1 pips|
|GBP/USD(Average: 1.1 pips)||4 pips||1.7 pips||0.1 pips|
|USD/JPY(Average: 1.1 pips)||4 pips||0.6 pips||0.1 pips|
|AUD/USD(Average: 0.8 pips)||4 pips||0.6 pips||0.2 pips|
|USD/CHF(Average: 2.3 pips)||4 pips||2.3 pips||0.2 pips|
|USD/CAD(Average: 2.9 pips)||4 pips||0.5 pips||0.3 pips|
|NZD/USD(Average: 3.6 pips)||4 pips||2.8 pips||0.3 pips|
|EUR/GBP(Average: 2.4 pips)||4 pips||0.5 pips||0.1 pips|
Spreads are changeable and are provided solely for informational reasons.
As you’ll see, the minimum spread for trading EUR/USD at FX Global Markets is 4 pips, which is very high in comparison to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with FX Global Markets to similar providers.
How much does it cost to trade one lot of EUR/USD with FX Global Markets?
If you bought one standard lot of EUR/USD (100,000 units) with FX Global Markets at 1.1719 and then sold it the next day at the identical price, you would most likely pay $17.58. Here is a general breakdown of the fees and how they compare to IG and XTB.
|FX Global Markets||IG||XTB|
|Spread from:||$ 40.00||$ 6.00||$ 2.00|
|Total cost of a 100k trade:||$ 40.00||$ 6.00||$ 2.00|
|$34 less||$38 less|
|VISIT FX GLOBAL MARKETS||VISIT IG||VISIT XTB|
All fees and pricing are provided for informational purposes only and are subject to change.
How is the trading experience at FX Global Markets?
1) Platforms and apps
FX Global Markets provides the well-known MT4 forex trading software. See our MT4 broker analysis for a list of the best MT4 brokers. They also provide their own PROfit platform.
They now provide mobile apps for Android and iOS, making it easy to monitor and execute transactions while on the go.
2) Executing Trades
FX Global Markets allows to perform a 0.01 Lot deal. This may differ based on the type of account you establish. The maximum trading requirements are different depending on the trader and the instrument.
Because they provide ECN and STP execution, you may anticipate exceptionally narrow spreads and more transparency over the price you pay to execute your transactions.
As a market maker, they may have lower entrance criteria than an ECN broker, which benefits from a higher number of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
Margin requirements vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
They also provide a variety of risk management tools, such as stop losses (including trailing stops), limit orders, negative balance protection, and much more. You may view all of their account features here.
Finally, we’ve included a list of some of the most common funding options available to FX Global Markets traders below.
- Low min deposit
- Offers STP
- Offers Negative Balance Protection
- Standard account
- ECN account
- Demo account
- Micro account
- Credit cards
- Bank Transfer
3) Client support
English, Spanish, Arabic, Italian, French, and Polish are just a few of the languages supported by FX Global Markets.
4) What you’ll need to open an account with FX Global Markets
Because FX Global Markets is regulated by the Financial Conduct Authority, CySEC, every new customer must pass a few simple compliance tests to verify that you know the implications of trading and that you are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:
- A utility bill or bank statement from the past three months showing your address
- A scanned colour copy of your passport, driving license or national ID
You’ll also have to respond a few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse their site immediately, it is essential to note that you will not be able to place any transactions until you pass compliance, which may take several days depending on your position.
79% of retail investor accounts lose money when trading CFDs with this provider.