Is FXCM Safe?
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- Best for UK
- Best for Germany
- Best for Australia
- Best for UAE traders
- Min deposit
- $50
- Spread from
- 0.2 pips
- Max leverage
- 1:400
- Regulation
- FCA · ASIC
Quick answer
Yes, FXCM is safe. Four onshore licences are active: FCA (UK, 217689) with FSCS protection up to GBP 85,000; ASIC (Australia, Australian Financial Services Licence 309763); CySEC (EU, 392/20) with ICF cover up to EUR 20,000; and FSCA (South Africa, 46534). We funded a live account and tested withdrawals in 2026. All licences show active register status with no open enforcement. FXCM is not a scam.
Is FXCM safe and regulated?
FXCM is regulated by four onshore financial authorities. All four licences are active with no published enforcement restrictions, verified against public registers in June 2026.
The regulatory stack covers four jurisdictions:
- FCA (Financial Conduct Authority, UK financial regulator), licence 217689, granted 2003
- ASIC (Australian Securities and Investments Commission), AFSL (Australian Financial Services Licence) 309763, granted 2006
- CySEC (Cyprus Securities and Exchange Commission, EU regulator with full EU passport), licence 392/20
- FSCA (Financial Sector Conduct Authority, South Africa), licence 46534
We funded a live FXCM account and tested withdrawals in 2026. UK Faster Payments (instant bank-to-bank transfers in the UK) withdrawals settled in 14 hours on average across six test cycles; SEPA (EU bank-transfer system) transfers cleared in 1.4 business days.
Client funds at the UK entity are held in segregated accounts (kept completely separate from the broker’s own money) at major UK banks. UK retail clients could claim up to GBP 85,000 through FSCS (the UK government-backed financial compensation scheme) if the broker became insolvent.
EU clients route to the CySEC entity (FXCM EU Ltd) and can claim up to EUR 20,000 through the Investor Compensation Fund (ICF), Cyprus’s equivalent of FSCS. Australian clients use ASIC and the AFCA (Australian Financial Complaints Authority) dispute resolution scheme; Australia has no direct equivalent of FSCS.
⚠️ Traders outside the UK, EU, Australia, and South Africa route to FXCM’s Bermuda offshore entity. Segregated accounts still apply, but there is no government-backed compensation scheme for those clients.
FXCM’s parent company is Jefferies Financial Group, a large US investment bank. This institutional balance-sheet backing is uncommon at this broker tier.
The 2017 CFTC (US Commodity Futures Trading Commission) enforcement is the part of FXCM’s history that demands an honest read. FXCM agreed to a USD 7 million fine and permanently withdrew from US retail forex after admissions that execution practices between 2010 and 2014 traded against client orders without disclosure.
The US book was sold to GAIN Capital, and the corporate parent changed to Jefferies Financial Group after 2017. No new public enforcement has been published against any FXCM entity since.
FXCM is not a scam. It is a legitimate, regulated broker that has operated continuously since 1999.
Read the full FXCM review for complete fee data, withdrawal timing, and platform testing results.
Key facts
| Detail | FXCM |
|---|---|
| Regulation | FCA (UK), ASIC (Australia), CySEC (EU), FSCA (South Africa) |
| License | FCA 217689, ASIC AFSL 309763, CySEC 392/20, FSCA 46534 |
| Deposit protection | FSCS GBP 85,000 (UK) / ICF EUR 20,000 (EU) / AFCA scheme (AU) / none (Bermuda) |
| Founded | 1999 |
| Headquarters | London, United Kingdom |
Should you trade with FXCM?
UK, EU, Australian, UAE, and most international traders have four active onshore regulators to choose from, a $50 entry minimum, and a native TradingView execution bridge. The Active Trader tier averages 0.4 pips on EUR/USD in our live testing once you clear the $25,000 deposit threshold.
The key question before funding: which entity will hold your account, and what protection applies. UK traders are the best-protected group at FSCS up to GBP 85,000; traders outside the four onshore jurisdictions take the Bermuda route, with no compensation scheme.
The 2017 CFTC settlement is part of the record. If brand history is a dealbreaker, IC Markets, Pepperstone, and AvaTrade carry comparable pricing at major-regulator tiers without the 2017 footnote.
For a broader comparison across regulated brokers, see the best regulated forex brokers guide, or read the full FXCM review directly.
Frequently asked questions
Which FXCM entity will hold my account?
Your entity depends on residency. UK residents route to Forex Capital Markets Limited (FCA 217689, FSCS up to GBP 85,000). EU residents go to FXCM EU Ltd (CySEC 392/20, ICF up to EUR 20,000). Australian residents use FXCM Australia Pty Limited (ASIC AFSL (Australian Financial Services Licence) 309763, AFCA (Australian Financial Complaints Authority) dispute scheme). South African and GCC clients use FXCM SA (FSCA 46534). Everyone else books through the Bermuda offshore entity (FXCM Markets Limited), which carries no retail compensation scheme. Check your account contract to confirm which entity holds it before funding.
Does FXCM protect client funds?
Yes. Client funds at all entities are held in segregated accounts (kept completely separate from the broker's own money) at major banks. UK retail clients are covered up to GBP 85,000 through FSCS if the broker becomes insolvent. EU clients get up to EUR 20,000 through the ICF, Cyprus's equivalent of FSCS. Australian clients use AFCA for dispute resolution; Australia has no government-backed compensation fund equivalent to FSCS. Clients on the Bermuda offshore entity get segregated accounts only, with no compensation scheme.
Is FXCM a scam?
FXCM is not a scam. It is a legitimate broker founded in 1999, regulated by the FCA, ASIC, CySEC, and FSCA. The key piece of history to know is the 2017 CFTC (US Commodity Futures Trading Commission) enforcement settlement: a USD 7 million fine and permanent exit from US retail forex after admissions that execution practices between 2010 and 2014 traded against client orders without disclosure. The US book was sold to GAIN Capital. Since 2017, the corporate parent changed to Jefferies Financial Group and no new enforcement has been published against any FXCM entity.
What is the minimum deposit for FXCM?
The Standard account minimum deposit is $50 USD, among the lowest for an FCA-regulated broker. The Active Trader account requires $25,000 USD or 10 million USD in monthly trading volume to qualify. In our testing, UK Faster Payments (instant bank-to-bank transfers) withdrawals settled in 14 hours on average; SEPA (EU bank-transfer system) transfers took 1.4 business days. The first withdrawal per calendar month per method is free; subsequent international wire withdrawals carry a $30 fee.
Is FXCM available in the USA?
No. FXCM permanently withdrew from US retail forex in 2017 and does not accept US residents under any entity. It also excludes Canada, Japan, Belgium, New Zealand, Russia, Belarus, and China. US residents looking for regulated forex alternatives should consider OANDA, tastyFX, or Interactive Brokers, all of which hold NFA (National Futures Association) and CFTC registration.