Since the inception of the modern forex market in the late 1990s, FXCM has been a pioneer and leader within the industry. Award-winning customer service coupled with technological innovation have allowed FXCM to provide forex market access and trade-related services to thousands of customers from around the globe.
FXCM caters to a wide range of retail and institutional currency traders from a vast array of geographic locales. If one has access to internet connectivity and a personal computer, then chances are one also has the capability to trade foreign currencies via FXCM.
However, there are regions of the world that have not been receptive to global currency exchange through the forex marketplace. Many specific nations and municipalities impose restrictions and outright bans upon their residents participating in forex trading. While a vast number of the 194 official countries of the world permit forex trading, there are a considerable number who do not.
FXCM: Service To Financial Centers And Developing Nations
FXCM provides individuals located in the leading economies of the world access to forex. Brokerage and support services are made available to customers either directly or through a partner or affiliate. Regional offices maintain company standards regarding customer service, infrastructure maintenance and dispute resolution.
Forex trading is facilitated by FXCM and its partners via the following international centers of trade:
- London, United Kingdom: Forex Capital Markets LTD.
- Sydney, Australia: FXCM Limited Australia PTY.
- Paris, France: FXCM France LTD.
The citizens of many leading developing nations and established economic regions are provided the opportunity to trade forex by affiliates of FXCM. Listed below are a few of the countries whose citizens are able to engage forex through FXCM while adhering to local regulations:
- China: FXCM Bullion Limited
- Hong Kong: FXCM Bullion Limited
- India: FXCM Markets
- Canada: Friedberg Direct
- South Africa: FXCM South Africa (PTY) LTD.
- Israel: FXCM Israel Limited
Individuals and corporations interested in actively trading currencies on the forex market may apply for a trading account via FXCM online trader portal. Qualifications for approval vary and are dependent upon numerous factors associated with forex trading being suitable for each individual.
Trading foreign exchange and/or contracts for differences 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: Unavailable Regions And Countries
For the citizens of specific countries and municipalities, currency trading is not permitted. There are various reasons for forex trading being unavailable, each depending upon the official governing body's unique stance on the subject.
In an effort to respect and abide by local laws and regulations, FXCM does not provide forex brokerage services to citizens of the following nations:
- Africa: Burundi, Central African Republic, Ivory Coast, Liberia, Libya, Sudan, Zaire, Zimbabwe
- Asia: North Korea, Singapore, South Korea
- Eastern Europe: Belarus, Russian Federation, Ukraine
- Island Nations: Cuba, Vanuatu
- Middle East: Iran, Syria, Turkey, Afghanistan
It's important for any individual interested in trading currencies online to be aware of local restrictions, regulations and laws that may limit their participation. Also, as regulations change, forex trading may become permitted in areas where it's currently prohibited. In many cases, the regulatory situation remains fluid and the possibility of forex trade in the future does exist.
FXCM: Regulatory Adherence
Many of the international offices operated by FXCM are licensed according to their specific jurisdiction:
- FXCM UK: Registered with the Financial Conduct Authority (FCA) of the U.K.
- FXCM Germany: Authorised by the FCA and locally through the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).
- FXCM Australia: Regulated by the Australian Securities and Investments Commission and registered with the FCA.
- FXCM France: Authorised by the FCA and locally through the Autorité de Contrôle Prudentiel (ACP).
- FXCM Italy: Authorised by the FCA and locally by the Commissione Nazionale per le Società e la Borsa (CONSOB).
Being licensed and in good standing according to regulatory requirements ensures adherence to proper capital allocations, transparency and conflict resolution. Ultimately, through extensive licensing and oversight, FXCM's clients are afforded security and peace of mind while pursuing their forex trading goals.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites 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.
Senior Market Specialist
Russell Shor (MSTA, CFTe, MFTA) is a Senior Market Specialist at FXCM. He joined the firm in October 2017 and has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the International Federation…