Global Disclaimers

  • Account Types:
    • The Mini account is ideal for new traders with all trading costs within the spread through FXCM's Dealing Desk execution model. Traders have access to 21 currency pairs and 18 CFDs. Experienced traders can trade Mini Accounts with up to 200:1 leverage. Traders that are new to FX and CFD trading will be defaulted to 50:1 leverage. In the event that equity surpasses 20,000 CCY, the Mini account may be switched to a Standard account.
    • The Standard account offers low commission pricing through FXCM's No Dealing Desk execution model. Traders have access to 39 currency pairs and 18 CFDs. Experienced traders can trade Standard Accounts with up to 100:1 leverage. Traders that are new to FX and CFD trading will be defaulted to 50:1 leverage. In the event that equity falls below 10,000 CCY, the Standard account may be switched to a Mini account.
    • Spread Bet accounts are available exclusively to UK and Ireland residents. Spread Betting is an option on both Mini and Standard account types. However please note that Spread Bet accounts will always be set to all-inclusive spreads pricing regardless of account type.
    See Execution Risks
    See Trading Costs Overview

    from: /account-types.jsp

  • These commissions highlight our major pairs: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, EUR/JPY and GBP/JPY.

    from: /active-trader-discount-table.jsp

  • 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

  • Commissions: Commission-based pricing is available on Standard and Active Trader account types. Commissions are charged at the open and close of trades in the denomination of the account.

    from: /commissions.jsp

  • Compensation: When executing customers' trades, FXCM can be compensated in several ways, which include, but are not limited to: charging fixed lot-based commissions at the open and close of a trade, adding a markup to the spreads it receives from its liquidity providers for certain account types, 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

  • FXCM LTD will only conduct business with a client for whom it considers such business to be appropriate and in assessing appropriateness, will rely on the information provided by the client in his/her/their application form. For this reason, it is essential that you immediately advise us in writing if there is subsequently an adverse change in the information you have provided.

    from: /conducting-business.jsp

  • Custodial Accounts: Custodial Accounts do not have any separate regulatory protections and any funds held, despite being maintained in separate deposit accounts, may be treated as an unsecured creditor's claim in case of bankruptcy.

    from: /custodial-accounts.jsp

  • Execution Disclaimer: FXCM aggregates bid and ask prices from a pool of liquidity providers and is the final counterparty when trading forex on FXCM's dealing desk and No Dealing Desk (NDD) execution models. With NDD, FXCM's platforms display the best-available direct bid and ask prices from the liquidity providers. In addition to the spread, the trading cost with NDD is a fixed lot-based commission at the open and close of the trade. While generally NDD accounts offer spreads with no markups, in some circumstances, FXCM may add a markup to NDD spreads. This may occur due to, but not limited to, account type, such as accounts opened through a referring agent. With dealing desk execution, FXCM can act as the dealer on any or all currency pairs. Backup liquidity providers fill in when FXCM does not act as the dealer. FXCM’s dealing desk has fewer liquidity providers than NDD. There are many other factors to consider when choosing an execution model (such as conflict of interest, trading style or strategy). See 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 British Pounds (GBP), that is an account balance of 25,000 GBP 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

  • The study does not in away way attempt to represent that FXCM maintains a particular capacity or performance level. The figures in this study are provided for information purposes only, and are not intended for trading purposes or advice. FXCM is not liable for any information errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. Past results are not indicative of future performance.

    Material Assumptions
    FXCM’s Retail Clients are defined as individual, joint, and corporate accounts trading on our retail price stream.

    The comparison to each of the Futures and Interbank data is made at the time that the FXCM client order is executed. Normal market slippage and slippage due to rejections by liquidity providers are already included by the time the FXCM client order is executed. However, there is an assumption that there is no slippage on the Futures or Interbank market data.

    In order to maintain consistency, Futures Market data and Interbank data used the same acceptable ranges in market trades. The summary of findings is based on the assumption that the maximum acceptable difference between the FXCM price and the Interbank/Futures market price is 5 pips in either direction.

    Fees that a participant would pay on the Futures or Interbank market, such as CME Exchange Fees, FCM Fees, Clearing Fees, and other commissions, were excluded from the study. Similarly, FXCM Commissions are excluded from the study.

    from: /execution-study.jsp

  • FXCM Apps: The apps displayed do not take into consideration your individual circumstances and trading objectives, and, therefore, should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results.

    from: /fxcm-apps.jsp

  • High Risk Investment Notice: Trading forex/CFD's on margin carries a high level of risk and may not be suitable for all investors as you could sustain losses in excess of deposits. Leverage can work against you. Due to the certain restrictions imposed by the local law and regulation, German resident retail client(s) could sustain a total loss of deposited funds but are not subject to subsequent payment obligations beyond the deposited funds. Be aware and fully understand all risks associated with the market and trading. Prior to trading any products offered by Forex Capital Markets Limited, inclusive of all EU branches, FXCM Australia Pty. Limited, any affiliates of aforementioned firms, or other firms within the FXCM group of companies [collectively the “FXCM Group”], carefully consider your financial situation and experience level. If you decide to trade products offered by FXCM Australia Pty. Limited (“FXCM AU”) (AFSL 309763), you must read and understand the Financial Services Guide, Product Disclosure Statement and Terms of Business. The FXCM Group may provide general commentary which is not intended as investment advice and must not be construed as such. Seek advice from a separate financial advisor. The FXCM Group 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. Read and understand the Terms and Conditions on the FXCM Group’s websites prior to taking further action.

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

  • Hypothetical Trading: 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-trading.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

  • 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: Experienced traders can trade Mini Accounts with up to 200:1 leverage. Experienced traders can trade Standard Accounts with up to 100:1 leverage. Traders that are new to FX and CFD trading will be defaulted to 50:1 leverage. Note that Mini accounts with equity that surpasses 20,000 CCY may be switched to a Standard account settings. Standard accounts with equity below 10,000 CCY may be switched to a Mini account. Learn More about Account Types.

    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

  • 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

  • Mini Accounts: Mini accounts offer 18 CFD instruments and up to 21 currency pairs. Mini accounts default to Dealing Desk execution where price arbitrage strategies are prohibited. FXCM determines, at its sole discretion, what encompasses a price arbitrage strategy. Mini accounts utilising prohibited strategies may be switched to No Dealing Desk execution. Mini accounts offer spreads plus mark-up pricing. Spreads are variable and are subject to delay. Experienced traders can trade Mini Accounts with up to 200:1 leverage. Traders that are new to FX and CFD trading will be defaulted to 50:1 leverage. Mini accounts with equity greater than 20,000 CCY may be switched to a Standard account with 100:1 leverage, No Dealing Desk execution, and commission based pricing.

    from: /mini-accounts.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: Forex Capital Markets Limited ("FXCM LTD") is an independent legal entity and is not affiliated with MetaQuotes Software Corp. ("MT4"). MT4 is not owned, controlled, or operated by FXCM LTD. Therefore, FXCM LTD 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 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

  • 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

  • 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: 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

  • This product summary should be read in conjunction with our Terms of Business. While every effort has been made to ensure the accuracy of this guide, this information is subject to change, often without notice, and therefore is for guidance only. If you ever have any questions please contact FXCM directly.

    from: /product-summary-notice.jsp

  • References: 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

  • SMS Messages: Upon opting in for SMS messages, you will receive two messages including a reminder message the day before your seminar. If you would like to opt out, simply text "stop" to 66665 after the day of your seminar.

    from: /sms-messages.jsp

  • Spread Betting: FXCM UK offers tax exempt spread betting accounts exclusively to UK and Ireland residents. Residents of other countries are NOT eligible. Spread betting is not intended for distribution to, or use by any person in any country and jurisdiction where such distribution or use would be contrary to local law or regulation.
     
    Spread Betting is an option on both Mini and Standard account types. Spread Betting accounts offer spread plus mark-up pricing only, regardless of account type. Spreads are variable and are subject to delay.

    from: /spread-bet-exclusive.jsp

  • Live Spreads Widget: Dynamic live spreads are the best available prices from FXCM’s No Dealing Desk execution. When static spreads are displayed, the figures are time-weighted averages derived from tradable prices at FXCM from 1 January 2017 to 31 March 2017. Spreads shown are available on Standard and Active Trader commission-based accounts. 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 and Active Trader Accounts: Standard and Active Trader accounts offer 18 CFD instruments and 39 currency pairs. Non-spread bet accounts default to a Low Spreads + Commission pricing structure. Spreads are variable and are subject to delay. Experienced traders can trade Standard and Active Trader accounts with up to 100:1 leverage. Traders that are new to FX and CFD trading will be defaulted to 50:1 leverage. Standard and Active Trader accounts with equity below 10,000 CCY may be switched to a Mini Account.

    from: /standard-active-accounts.jsp

  • Additional documentation such as a government issued photo ID and proof of residence may be required to complete your account application. Learn More

    from: /supporting-documentation.jsp

  • Tax Treatment: The UK tax treatment of your financial betting activities depends on your individual circumstances and may be subject to change in the future, or may differ in other jurisdictions.

    from: /tax-treatment.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