Global Disclaimers

  • Update: For FIX API, FXCM implemented a new MsgType<35> X when sending a symbol subscription MsgType<35> V. For details, click here.

    from: /api-trading-update.jsp

  • Average Spreads: Time-weighted average spreads are derived from tradable prices at FXCM from April 1,2017 to June 30,2017. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays or for actions relying on this information.

    from: /average-spreads.jsp

  • Best Pricing: FXCM aims to provide clients with the best pricing available and to get all orders filled at the requested rate. However, there are times when, due to an increase in volatility or volume, orders may be subject to slippage.

    from: /best-prices.jsp

  • Target spreads in UK100, GER30, FRA40 and AUS200 may widen when the respective exchange is closed.

    from: /cfd-pricing-disclaimer.jsp

  • Compensation: When executing customers' trades, FXCM can be compensated in several ways, which include, but are not limited to adding a markup to the spreads it receives from its liquidity providers and adding a markup to rollover. Under the Dealing Desk execution model, FXCM may act as a dealer and may receive additional compensation from trading.

    from: /compensation.jsp

  • Execution Disclaimer: When trading Forex on both FXCM's Dealing Desk and No Dealing Desk (NDD) execution models, FXCM is the final counterparty to these transactions. In both execution models FXCM aggregates the bid and ask prices from a pool of liquidity providers. The quotes that are displayed on FXCM's platforms are the best available bid and ask quotes received from liquidity providers plus a fixed mark-up for each currency pair. On the Dealing Desk execution model FXCM can act as the dealer on some or all currency pairs. There are also back up liquidity providers that fill in whenever FXCM does not act as the dealer. Please note that FXCM's Dealing Desk employs fewer liquidity providers than the No Dealing Desk execution option.

    For more information, see our Execution Risks.

    Note: Contractual relationships with liquidity providers are consolidated through the FXCM Group, which, in turn, provides technology and pricing to the group affiliate entities.

    from: /dd-execution-risks.jsp

  • Demo Account: Although demo accounts attempt to replicate real markets, they operate in a simulated market environment. As such, there are key differences that distinguish them from real accounts; including but not limited to, the lack of dependence on real-time market liquidity, a delay in pricing, and the availability of some products which may not be tradable on live accounts. The operational capabilities when executing orders in a demo environment may result in atypically, expedited transactions; lack of rejected orders; and/or the absence of slippage. There may be instances where margin requirements differ from those of live accounts as updates to demo accounts may not always coincide with those of real accounts.

    from: /demo-account.jsp

  • Educational Videos: All videos are provided for educational purposes only and clients should not rely on the content or policies as they may differ with regards to the entity that you are trading with. Further, any opinions, analyses, prices, or other information contained on this website is provided for educational purposes, and does not constitute investment advice. FXCM will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

    from: /educational-videos.jsp

  • EFX Access: You can receive the eFXplus service with an initial balance of 25,000 base currency on your live FXCM Account. (For example, if your account denomination is US Dollars (USD), that is an account balance of 25,000 USD and 10 standard lots is 1,000,000 notional volume). Trade at least 10 standard lots per month to get a monthly subscription to eFXplus for free. If you do not meet this requirement at the end of the month, your subscription will be cancelled.

    from: /efx-access.jsp

  • High Risk Investment Warning: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss in excess of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. Before deciding to trade the products offered by FXCM you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. FXCM provides general advice that does not take into account your objectives, financial situation or needs. The content of this Website must not be construed as personal advice. FXCM recommends you seek advice from a separate financial advisor.

    Please click here to read full risk warning.

    from: /high-risk-investment-warning.jsp

  • Hypothetical Performance: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

    One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.

    You should not regard any transaction proposal or suggested automated or manual trading strategies as investment recommendations or advice. You must rely on your own judgement for any investment decision you make in relation to your account.

    from: /hypothetical-performance.jsp

  • Imitation Apps: Be aware of imitation apps. Never give your account credentials to a third party. If you have any doubts whatsoever, please contact your FXCM sales rep before downloading, using or giving any information to any app provider. Rogue Apps can seek to steal account information.

    from: /imitation-apps.jsp

  • Information Disclaimer: You should not regard any transaction proposal or suggested automated or manual trading strategies as investment recommendations or advice. You must rely on your own judgment for any investment decision you make in relation to your Account.

    from: /information-disclaimer.jsp

  • Intermediary Markup: In some instances, accounts for clients of certain intermediaries are subject to a markup.

    from: /intermediary-markup.jsp

  • Leverage: Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange with any level of leverage may not be suitable for all investors.

    from: /leverage-double-edge.jsp

  • Leverage Tiers: Standard Accounts default to dealing desk execution on 400:1 leverage. Premium accounts default to No Dealing Desk execution on 100:1 leverage. Accounts with equity that surpasses 10,000 may be switched to 200:1 leverage. Accounts with equity that surpasses 20,000 may be switched to 100:1 leverage. FXCM may take steps to mitigate its risk arising from market making more effectively by, at our sole discretion and at any time and without previous consent, transferring your underlying account to our NDD execution offering.

    from: /leverage-tier.jsp

  • Liquidity Providers: Liquidity providers include global banks, financial institutions, prime brokers and other market makers.

    from: /liquidity-providers.jsp

  • Market Commentary: Any opinions, news, research, analyses, prices, or other information is provided as general market commentary, and does not constitute investment advice. FXCM will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

    from: /market-commentary.jsp

  • FXCM Markets Interest: FXCM may change interest rate at any time at our discretion. Interest payments are not available for accounts on spreads + commissions model.

    from: /market-interest.jsp

  • Market Opinions: Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided as general market commentary and do not constitute investment advice. FXCM will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

    from: /market-opinions.jsp

  • Market Share: Market share is based on the number of primary relationships with current retail traders.

    from: /market-share.jsp

  • FXCM Markets is not subject to the regulatory oversight that governs other FXCM entities, which includes but is not limited to Financial Conduct Authority, and Australia Securities and Investment Commission. FXCM Markets is not intended to be used by residents of: the United States, Canada, European Union, Japan, Hong Kong, or Australia. FXCM Markets is committed to maintaining the highest standards of ethical behaviour and professionalism as well as a high level of trust and confidence, all of which are pillars of FXCM's corporate culture. FXCM has earned a reputation for fairness, honesty, and integrity, and considers this to be our most valuable corporate asset. We recognize that our reputation hinges on the adherence of our employees to the highest standards of ethical behaviour and professionalism in the performance of their duties, without which our history of accomplishments would not have been possible. For more information please contact us.

    from: /markets-not-regulated.jsp

  • Mobile Trademarks: iPhone, iTunes and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android and Google Play are trademarks of Google Inc.

    from: /mobile-trademarks.jsp

  • MT4: Accounts on the MetaTrader 4 platform have maximum account equity restrictions. Contact FXCM for details.

    from: /mt4.jsp

  • MT4 FXCM Independency: FXCM Markets is an independent legal entity and is not affiliated with MetaQuotes Software Corp. ("MT4"). MT4 is not owned, controlled, or operated by FXCM Markets. Therefore, FXCM Markets does not make any warranties regarding any MT4 product or service and has not reviewed or verified any performance results that may be presented and/or described on this website in relation to MT4.

    from: /mt4-fxcm-independency.jsp

  • MT4 Mark-up: A 0.1 pip mark-up is added to spread for the use of MT4. The 0.1 pip is in addition to the regular mark-up FXCM adds to the spreads it receives from liquidity providers.

    from: /mt4-mark-up.jsp

  • MT4 Order Sizes: FXCM MetaTrader 4 allows for order sizes up to 50 million per trade. Traders have the ability to trade incremental sizes (multiple orders of 50 million for the same pair).

    The MT4 platform does not allow FXCM to include commissions in pre-trade margin calculations on client's pending orders. This means that if you place a trade with a small amount of available usable margin under the MT4 account, there is a risk that the execution of the orders could trigger immediate margin call right after the execution as the commission charges can result in insufficient margin to maintain your open positions. You should therefore ensure that you have reserved sufficient buffer usable margin before opening new trades.

    from: /mt4-order-sizes.jsp

  • MT4 Quote Throttling: The potential exists for variations in pricing displayed between servers. These differences do not have an impact on prices available for execution but can impact the prices used to trigger resting orders. ‎Please note that MT4 has an inherent limitation on maximum numbers of quotes processing within a short period of time (i.e. per second). During volatile market situation, there is a risk of potential latency of price quote which may result in delays in order execution.

    from: /mt4-quote-throttling.jsp

  • While our competitors are beginning to follow our example of offering No Dealing Desk Forex execution, we have successfully implemented it. Excellent bid and ask prices are not meaningful unless you have a reliable trading platform to execute trades. Our trading platform is tested in all market conditions.

    from: /no-dealing-desk.jsp

  • No Re-Quote Policy: FXCM maintains a no re-quote policy. Circumstances exist based on order size, trading pattern, and market conditions where individuals may not receive execution at the requested rate. Orders are executed at the next available rate within the trader's parameters, subject to market conditions. The difference between the requested rate and final execution price may be more or less advantageous based on the market activity and available liquidity.

    from: /no-requote.policy.jsp

  • Order Limits: FXCM Trading Station and FXCM MetaTrader 4 allow for order sizes up to 50 million per trade. Traders have the ability to trade incremental sizes (multiple orders of 50 million for the same pair). With FXCM's dealing desk execution, the maximum order size is 2 million per trade with the ability to trade incremental sizes as well.

    from: /order-limits.jsp

  • FXCM & Online Trading Academy: FXCM is an independent legal entity and is not affiliated with Online Trading Academy. FXCM does not endorse any product or service of Online Trading Academy. Nothing associated with this promotion shall be considered a solicitation to buy or an offer to sell any product or service to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the laws or regulations of such jurisdiction.

    from: /ota-fxcm-independency.jsp

  • Past Performance: Past Performance is not an indicator of future results.

    from: /past-performance.jsp

  • Pip Cost: The pip cost may vary depending on the account denomination and the notional value of a currency pair which fluctuates on a daily basis. The EUR/USD pip cost of 0.0668439 (rounded to 7p) was derived Dec 2, 2015. Current pip costs can be found on your trading platform.

    from: /pip-cost.jsp

  • Price Disclaimer: Orders will always execute based on the pricing structure of the client's account no matter what is displayed on the platform. The price quoted under this specialty platform is for reference only.

    from: /price-disclaimer.jsp

  • Price Improvements: All price improvements are contingent upon available liquidity at execution. Price improvements are available on all order types.

    from: /price-improvements.jsp

  • References Disclaimer: This information is for references purposes only, and reliance on the information contained herein is not an alternative to legal advice from an attorney or other professional legal services provider. Specific questions should be referred to outside counsel. FXCM assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. FXCM will not accept liability for any loss, damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of, or reliance on the information contained herein.

    from: /reference-purposes.jsp

  • Risk Warning: Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved.

    from: /risk-warning-short.jsp

  • Service Provider: FXCM is an independent legal entity and is not affiliated with this Service Provider. FXCM does not endorse any product or service of the Service Provider. Nothing associated with this promotion shall be considered a solicitation to buy or an offer to sell any product or service to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the laws or regulations of such jurisdiction.

    from: /service-provider.jsp

  • Important Disclaimer on Share CFDs: Please note that if share CFD position is open when your account goes into deficit, all rights to any negative balance protection will be waived. Refer to the Terms of Business for details.

    from: /shares-cfd.jsp

  • Shares Margin: Remember, trading on margin can significantly increase profits as well as losses.

    from: /shares-margin.jsp

  • Simulated Performance Results: These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.

    from: /simulated-performance.jsp

  • Live Spreads Widget: Dynamic live spreads are the best available prices from FXCM’s price providers. When static spreads are displayed, the figures are time-weighted averages derived from tradable prices at FXCM from April 1,2017 to June 30,2017. Spreads are variable and are subject to delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays, or for actions relying on this information.

    from: /spreads-widget.jsp

  • Standard Spreads: Spread figures for FXCM Market's standard offering are are time-weighted averages derived from tradable prices on the 13th of October. Please note, FXCM spreads are variable. Advertised spreads may not be applicable to client accounts under intermediaries, such as referring brokers. Figures exclude rollover charges and may differ for Active Trader Accounts. FXCM strives to provide traders with tight, competitive spreads; however, there may be instances when market conditions cause spreads to widen beyond the spreads displayed above.

    from: /standard-spreads.jsp

  • Third-Party Information: For the purposes of this specialty platform, your personal information will be handled in line with FXCM's Privacy Policy.

    from: /third-party-info.jsp

  • Third Party Links: Links to third-party sites are provided for your convenience and for informational purposes only. FXCM bears no liability for the accuracy, content, or any other matter related to the external site or for that of subsequent links, and accepts no liability whatsoever for any loss or damage arising from the use of this or any other content. Such sites are not within our control and may not follow the same privacy, security, or accessibility standards as ours. Please read the linked websites' terms and conditions.

    from: /third-party-links.jsp

  • Third Party Payments: FXCM does not accept Third Party payments. Deposits received from an account in a different name and/or held by someone other than the trading account holder constitutes a third party deposit. This also applies to corporate funds received for an individual account and similar scenarios.

    from: /third-party-payments.jsp

  • Each first-prize winner wins the unique opportunity to trade professionally for TopTrader in a fund equivalent to $37,500, earning a cut along the way.

    from: /top-tradr-funds.jsp

  • Clients who trade notional volume with an average of 500K per month for the previous 3 months will have the cost of VPS service reimbursed. At the beginning of the month (between 1st and 15th), a fee of 30 base currency (3k JPY, 240 HKD) will be debited from any of your FXCM account(s) to cover the VPS cost.

    from: /vps-free-hosting.jsp

  • VPS Risk Disclosure: VPS services are provided by third parties. These third parties are not owned, controlled or operated by FXCM. As such, FXCM does not make any warranties regarding the services provided by the third parties. Clients are not required to sign up with the third parties FXCM offers discounts for. Instead clients are encouraged to find a VPS provider that best meets their needs. Additionally, there are significant risks and limitations involved with using VPS services. Prospective users are further encouraged to carefully examine and assess the risks and the limitations prior to use. These terms are subject to change at the sole discretion of FXCM.

    from: /vps-risk-disclosure.jsp