Forex Capital Markets (NYSE: FXCM)
Forex Capital Markets (FXCM) is one of the oldest and most recognized names in the online currency trading space. As an American company, FXCM is listed in the New York Stock Exchange and is regulated by the United States Securities and Exchange Commission (SEC). Although FXCM got its start as a developer of technologies to facilitate online trading, the company is known for its retail brokerage services.
Aside from its U.S. operations, the company also keeps a presence in a number of European and Asian jurisdictions. Over the last few years, FXCM has faced tight regulatory scrutiny as a result of its acquisition of Refco, a forex broker that went through complex bankruptcy proceedings. These days, FXCM is a highly competitive broker in terms of spreads. The bulk of its business consists of no-dealing trading desk transactions, which typically priced at three pips and lower. Going through the dealing desk will save some traders one pip on most currency pairs, and active traders can take advantage of even lower spreads.
FXCM offers its very own Trading Station platform in desktop, mobile and Web versions. In addition to the proprietary Trading Station, FXCM customers can choose from other platforms such as MetaTrader 4 and ZuluTrade. Promotions and bonuses at FXCM are periodic and are typically in the $50 range for new accounts.