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Active Traders On Margin- FCM Comparisons
BROKER COMPARISON
The table below will help you decide which Forex Counter Party might be more suitable to your particular needs - Forex Capital Markets (FXCM), Global Forex Trading (GFT), Interbank FX (IBFX).
FXCM |
GFT |
IBFX |
|
Leverage |
No $ Limit Maximum leverage on majors 50:1. Please check your brokers' website for details. No hedging for U.S. clients. |
No $ Limit Maximum leverage on majors 50:1. Please check your brokers' website for details. No hedging. |
No $ Limit Maximum leverage on majors 50:1. Please check your brokers' website for details. No hedging. |
| Minimum starting balance | Micro, mini and standard accounts available. |
Micro, mini and standard accounts available. |
Micro, mini and standard accounts available. |
| Minimum lot size | 1k | 10 | 100 |
| Cell phone alerts | No, need a 3rd party alert service | Yes | Yes, from your own computer, so it must be on 24/7 |
| Trading platform | Trading Station II MT4 available. |
DealBook 360 & DealBookWEB | MetaTrader 4.0 Note: If you are using the optional Expert Advisor, your platform must be running while the market is open. If you experience a power failure, your buy/sell limits will not be executed. |
| Ease of viewing interest paid | Easy. Displayed in the Intr column | Demo: Statements > Transaction Report Live: Daily e-mail show interest received |
Easy. Displayed in the "Swap" column |
| # of demo accounts allowed | Unlimited - 30 day limit | 1 demo - 30 day limit | Unlimited - active accounts never expire |
| Website address | |||
| Access to web-based platform | Not available | Yes Demo Accounts Live Accounts |
Not available |
*Without proper risk management, this high degree of leverage can lead to large losses as well as gains. Trading Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in Forex you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Currency trading is not conducted on a regulated exchange, and as a result there are associated risks with forex trading. You should be aware of all the risk associated with Forex trading, and seek advice from an independent financial advisor if you have any doubts.
The Futures Commission Merchant (FCM) and Referring Broker (IB) are compensated for their services through the spread between the bid/ask prices.
