FXCM Pro Pricing, Reviews & Features

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CIBC offers one of the lowest fees for assignments and exercises of option positions, with the fee for auto assignments being just $6.95 plus $1.25 per contract. Manual exercise requests will be charged at $6.95 per request. You can earn interest on your cash balance, however, this is paid at Prime – 5.50% for CAD accounts. This means that the prime rate will need to be at least 5.50% before you’ll earn any interest on your cash balance with Questrade. Wood fired pizza oven Constructed out of stainless steel Equipped with wheels to make it easy to move around Spacious 25.2″ x 29.5″ cooking area R…

  • This equals to a 6.9% annual margin rate charged for buy positions, which may be higher than margin rates offered by traditional brokerages.
  • Oanda charges lower financing costs when compared to margin interest rates at some Canadian brokerages.
  • Review the following FXCM Pro alternatives to see if there are any FXCM Pro competitors that you should also consider in your software research.
  • In addition to stocks and options, you can trade futures, futures options, forex, bonds, and funds.

A broker-neutral service, executing strategies while minimizing market impact, reducing transactions costs, and monitoring risk. In the bonus area, the broker FXCM isn’t necessarily convincing because, unlike many other brokers, there’s no regular bonus on the first deposit. The actual fact that the broker doesn’t actively advertise a bonus doesn’t necessarily mean that no customer has the chance to receive a bonus on the primary deposit. As a result, there are two kinds of trade in particular. On the one hand, traders can also opt for CFD trading. It’s interesting that there’s also a decent selection for traders with regard to order execution.

There’s no minimum account balance requirement, however, an annual administration fee of $100 is charged if your account balance is less than $20,000. You can also avoid this annual fee by having an InvestCube account or if you are a young trader . BMO InvestorLine Self-Directed allows you to invest in stocks, bonds, options, ETFs, GICs, and mutual funds. Only Canadian and U.S. stock exchanges are supported, with a commission of $9.95 per stock and ETF trade. When converting foreign currency, BMO InvestorLine charges a spread that can be as high as 1.75%.

FXCM provides in FOREX trading all what is important to me

The Scotiabank StartRight program, which is a special program for newcomers to Canada, offers 10 commission-free trades when they open a new Scotia iTRADE account with at least $1,000. Young traders, which are those under the age of 26, can qualify for a waiver of the account administration fee. For all other accounts, a quarterly fee of $25 is charged. Many banks offer lower commissions for active traders and young traders. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts.

Friedberg customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at RBC’s foreign currency conversion spread starts from 200 basis points (1.60%) and can go down to 0.10% for transactions over $2 million. A spread of 1.60% makes RBC’s currency conversion fee similar to Wealthsimple, but higher than Interactive Brokers’ spread of just 0.2 basis points.

today I had excellent technical support…

People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Even after uploading the necessary KYC documents, I was still unable to access my account. Additionally, FXCM never offered any proof to support their actions. Great technical analysis research tools, rivaling even bigger brokers out there. Really appreciate how they lay out the straightforward fee structure, and not leave the trader guessing what they need to pay. Intend on using FXCM however as inactivity will lead to a fee down the road.

https://forex-reviews.org/ is primarily regulated by the British FCA, but IIROC also carries out regular controls. The relationship between Friedberg Direct and FXCM was formed with the purpose to allow Canadian residents access to FXCM’s suite of products. Trade popular currency pairs and CFDs with Enhanced Execution and no restrictions on stop and limit orders.

Ayúdanos a proteger Glassdoor

71% of retail investor accounts lose money when trading CFDs with this provider. Thanks a great deal for your positive review, Maroulla C. Antoniadou! It’s great to know that our platform is the right fit for your investing needs.

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If you ever need anything else, you know where to find us. I lost connection to my trading station, and connected with a gentleman in support called Joseph. He managed to understand and fix my problem within a few seconds, no mess no fuss.

Obsidian SmartDocs is the industry leading solution providing electronic subscriptions and KYC docs for investment firms. SDK.finance is a white label core banking software vendor for digital banks and neobanks. Explore alternatives to FXCM Pro that are most similar in terms of key features and benefits. Review the following FXCM Pro alternatives to see if there are any FXCM Pro competitors that you should also consider in your software research. The company has other branches in Canada and all over the world.

GER30 supported by real rate breakdown – FXCM

GER30 supported by real rate breakdown.

Posted: Fri, 24 Feb 2023 08:00:00 GMT [source]

Options trading for young investors still come with a commission of $6.95 plus $1.25 per contract. The best trading platforms have low or no fees, no minimum account balance requirement, and offer a wide variety of markets. FXCM Group is a global leading provider of online Forex, CFD and other trading related services.

With this in mind, FXCM’s mission is to provide increasing levels of quality pricing, transparency and execution services to its traders. While BMO has no minimum balance requirement, they do charge a $25 quarterly fee for non-registered accounts if your balance is less than $15,000. You can also avoid paying this $25 quarterly account fee by making at least two trades in six months. The account fee for registered accounts is $100 per year if the account balance is less than $25,000. RBC Direct Investing is an online investing service offered by Royal Bank of Canada .

National Bank Direct Brokerage’s interest rates for margin accounts depends on your debit balance. Having a debit balance of $100,000 or more gives you access to much lower interest rates. Scotia iTRADE offers a list of over 100 ETFs that can be bought and sold commission-free if you hold them for at least one business day.

In case of technical issues a representative pays immediately attention to your request. Overall I find FXCM very good and absolutely recommendable. I would have appreciated if FXCM would send daily and monthly reports about the performed trades, but that is a nice to have and not a must. There is namely the non-dealing desk order execution and, alternatively, the customer can also choose the dealing desk model, which usually includes comparatively low spreads. In terms of volume, the trader has over 40 currency pairs available and there’s a sufficient selection of CFDs that the customer can choose. Oanda charges a currency conversion fee of 0.5% if you make a trade for an instrument that is different from your account currency.

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However, you can open fxcm canada review accounts such as TFSAs, RRSPs, LIRAs, and RESPs with Wealthsimple. One drawback of Questrade is their very high margin interest rates. This is the rate that you pay to borrow money in order to buy stocks and other products using margin. Questrade is a popular Canadian discount brokerage that positions itself as an alternative to the major bank brokerages. One feature that Questrade offers is the ability to purchase ETFs with no commission. This is a great way for investors looking to buy commission-free ETFs regularly, such as investing a portion of their paycheck, or those who want to automatically invest frequently.