Best Forex Brokers in Vietnam
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FXCM Review
Overall, FXCM is considered low risk, with an overall Trust Score of 95 out of 100. FXCM is licensed by two Tier-1 Regulators (high trust), two Tier-2 Regulators (average trust), and zero Tier-3 Regulators (low trust). FXCM offers one CFD retail trading account and Spread Betting, Active Trader, and Professional Trader Options on this account.
- Lesche Duvenage
Jump to:
Overview
Regulation and Safety of Funds
Awards and Recognition
Account Types and Features
Account Registration
Broker Comparison
Trading Platforms
Range of Markets
Fees
Deposit and Withdrawels
Education and Research
Bonuses and Promotions
Affiliate Programs
Customer Support
Social Responsibility
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.6/5
Min Deposit
USD 50 / 1228000 VND
Regulators
FCA
Trading Desk
MT4
Crypto
Yes
Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overview
The broker is a market leader in online forex trading, contract for difference (CFDs), and spread betting. The broker was founded in 1999 to facilitate access to financial markets through cutting-edge technology and favorable trading conditions.
Furthermore, they are a global forex broker with offices in London, Johannesburg, Hong Kong, Athens, Paris, Sydney, Berlin, and Milan.
In addition, the company has affiliate offices in Toronto and Tel Aviv, Israel. The broker employs the No Dealing Desk (NDD) method, which allows for 31 millisecond execution times.
Over the past few years, the broker has received several industry awards for excellence in various categories, including platform, customer support, and analysis.
Vietnamese traders can fund their trading accounts by logging into MyFXCM with their live account and transferring funds via online bank transfer.
The broker provides over a dozen stock indices, allowing traders to trade their thoughts on the US, European, Asian, and Australian markets. The broker is also a market leader in CFD trading and related services.
Distribution of Traders
Top 3 FXCM User Reviews
- Ava Ly (September 2023) “FXCM has been integral to my trading career. Their feature-rich platform and the TradingView integration are a bonus.”
- Liam Bui (August 2023) “FXCM has provided me with mostly positive experiences. Their platform is robust and packed with trading tools. I encountered an issue with a deposit, but their team quickly resolved it.”
- Harper Nguyen (August 2023) “I’ve been trading with FXCM for over two years, and I must say that their trading platform is excellent. The integration with TradingView is a game-changer for me, in addition to its user-friendliness. They offer abundant resources, including news updates, trading tips, and probable signals. Highly recommended for both novice and experienced traders alike.”
Advantages that FXCM has over competitors
- Few other online brokers can compete with high-quality customer service. Innovative they provide its clients cutting-edge trading tools, proprietary data, and high-quality educational resources.
- Through Pro, retail brokers, emerging market banks, and small hedge funds can access wholesale execution and liquidity.
- The broker has been named Best in Class (top 7) in Platforms and Tools, Professional Trading, Algorithmic Trading, and Social Copy Trading. The broker distinguishes itself from competitors by offering clients more value-added services and trading platform options.
- Prime provides access to the brokers quality brokerage services for medium- and high-frequency funds.
- The broker is regulated in two tier-1 jurisdictions, making it a safe (low-risk) broker for Forex and CFD trading.
- The brokers employs the No Dealing Desk (NDD) methodology, allowing execution times of 31 milliseconds.
- The broker is a zero-commission broker with competitive dealing spreads on CFDs and currency pairs.
- They provide over a dozen stock indices, allowing traders to trade their thoughts on the US, European, Asian, and Australian markets.
- FXCM offers a respectable range of market research from in-house and third-party sources. Overall, the brokers research is slightly above the industry average and should satisfy the majority of forex traders.
Who will Benefit from Trading?
- Due to FXCM’s focus on forex trading, those interested in trading currency pairs will find a diverse range of options, competitive spreads, and in-depth market analysis. In addition to Forex, the broker trades commodities, indices, and cryptocurrencies. Traders can diversify their portfolios and hedge against market volatility as a result of this.
- The broker provides a user-friendly platform that makes navigating and understanding the markets easier for those new to trading. Their educational resources, which include webinars, tutorials, and articles, can assist beginners in learning the fundamentals of trading.
- Experienced traders can benefit from FXCM’s advanced trading tools, technical analysis features, and integration with platforms like TradingView. The broker also provides various financial instruments, allowing for diverse trading strategies.
- The broker offers a variety of risk management tools, such as stop-loss and take-profit orders, to help traders manage their risks effectively.
- For those who prefer to trade on the go, the broker has a mobile trading app that includes all the necessary features for monitoring and executing trades from anywhere.
- Given the user profile, it is worth noting that they have a presence in several Asian countries, making it a viable option for traders in that region seeking a broker with local market insights and support.
- With a dedicated customer service team and many online resources, traders needing guidance, technical support, or market insights will find the brokers responsive and helpful.
- They support algorithmic trading, which allows traders to automate their strategies and execute trades based on predefined criteria. This is advantageous for those who use systematic trading methods.
- The broker’s robust platform and liquidity can cater to institutional investors’ needs, providing them with a dependable environment for high-volume trading.
What is the minimum deposit to open an account with FXCM?
It costs $50 to register a live trading account.
What is the spread size for FXCM?
The spreads start from 0.2 pips on EUR/USD.
FXCM At a Glance
| 🏛 Headquartered | United Kingdom |
| 🌎 Global Offices | Hong Kong, Cyprus, Australia, Israel, South Africa, Canada (Affiliate office), Europe |
| 🏛 Local Market Regulators in Vietnam | The State Bank of Vietnam (SBV) |
| 💳 Foreign Direct Investment in Vietnam | 22.40 billion USD (Dec 2022) |
| 💰 Foreign Exchange Reserves in Vietnam | 85,801 million USD (Feb 2023) |
| ✔️ Local office in Hanoi? | No |
| 👨⚖️ Governor of SEC in Vietnam | SBV Governor, Nguyen Thi Hong |
| ✔️ Accepts Vietnamese Traders? | Yes |
| 📊 Year Founded | 1999 |
| 📞 Vietnam Office Contact Number | None |
| 📱 Social Media Platforms | Facebook YouTube RSS |
| ⚖️ Regulation | FCA, ASIC, CySEC, FSCA |
| 1️⃣ Tier-1 Licenses | Financial Conduct Authority (FCA) Australian Securities and Investments Commission (ASIC) |
| 2️⃣ Tier-2 Licenses | Cyprus Securities and Exchange Commission (CySEC) Financial Sector Conduct Authority (FSCA) |
| 3️⃣ Tier-3 Licenses | None |
| 🪪 License Number | United Kingdom – 217689 Australia – AFSL 309763 Cyprus – 392/20 South Africa – FSP 46534 |
| ⚖️SBV Regulation | No |
| ✔️ Regional Restrictions | United States, Ukraine, Turkey, Russia, and Iran, along with some other countries |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 1 |
| ✔️ PAMM Accounts | United States, Ukraine, Turkey, Russia, and Iran, along with some other countries |
| 💻 Liquidity Providers | Barclays Bank, Citibank NA, Deutsche Bank, FASTMATCH MKP, ХТХ Markets Ltd., UBS, Morgan Stanley |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market |
| 📊 Starting spread | 0.2 pips on EUR/USD, Variable |
| 📉 Minimum Commission per Trade | None; only the spread is charged |
| 💰 Decimal Pricing | 5th Decimal after the comma |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 50 million per trade on Forex |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a VND Account? | No |
| 📉 Dedicated Vietnamese Account Manager? | No |
| 📈 Maximum Leverage | 1:30 under FCA 1:400 under other market regulators |
| 📊 Leverage Restrictions for Vietnam? | No |
| 💳 Minimum Deposit (VDN) | USD 50 / 1228000 VND |
| ✔️ Vietnam Dong Deposits Allowed? | Yes |
| 📊 Active Vietnam Trader Stats | 90 million+ |
| 👥 Active Vietnam-based FXCM customers | Unknown |
| 🔁 Vietnam Daily Forex Turnover | 9.9 billion USD (2019) |
| 💰 Deposit and Withdrawal Options | Credit Card Debit Card CreditPay Bank Wire Transfer Skrill Neteller Klarna Rapid Transfer Local Bank Transfer Philippines Local Bank Transfer Vietnam Local Bank Transfer LATAM Local Bank Transfer Malaysia Local Bank Transfer Indonesia |
| 💻 Minimum Withdrawal Time | Instant |
| ⏰ Maximum Estimated Withdrawal Time | Up to 2 working days |
| 💳 Instant Deposits and Instant Withdrawals? | Yes |
| 🏛 Segregated Accounts with Vietnamese Banks? | No |
| 📱 Trading Platforms | Trading Station MetaTrader 4 NinjaTrader ZuluTrade Capitalise AI TradingView Pro QuantConnect MotiveWave AgenaTrader Sierra Chart SeerTrading NeuroShell Trader |
| 💻 Tradable Assets | Forex Shares Indices Commodities Cryptocurrencies Forex Baskets Stock Baskets |
| ✔️ Offers USD/VND currency pair? | No |
| 📊 USD/VND Average Spread | None |
| ✅ Offers Vietnamese Stocks and CFDs | No |
| 💻 Languages supported on the Website | English, French, Chinese, German, Italian, Malay, Spanish, Thai, Bahasa, Vietnamese, Arabic, Polish, Russian, and more. |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes, through ZuluTrade |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Vietnam-based customer support? | No |
| 💸 Bonuses and Promotions for Vietnamese? | Yes |
| 📚 Education for Vietnamese beginner traders | Yes |
| 📱 Proprietary trading software | Yes, Trading Station |
| 🤝 Most Successful Trader in Vietnam | Most Successful unknown, but the top include Dao Thi Kim Ngan, Tran Minh Tuan, Pham Quoc Dat, etc. |
| ✔️ Is the broker a safe broker for Vietnam Traders? | Yes |
| 🎖 Rating for Exness Vietnam | 9/10 |
| 🥇 Trust score for Exness Vietnamese | 95% |
| 👉 Open Account | 👉 Open Account |
Regulation and Safety of Funds
The broker is not currently regulated by the State Bank of Vietnam (SBV). However, there global regulations are listed in the table below:
| Registered Entity | Country of Registration | Regulatory Entity | Tier | License Number/Ref |
| FXCM Australia Pty Limited | Australia | ACN 121 934 432 | 1 | 309763 |
| Forex Capital Markets Limited | United Kingdom | 04072877 | 1 | 217689 |
| FXCM EU Ltd | Cyprus | HE 405643 | 2 | 392/20 |
| FXCM South Africa (Pty) Ltd | South Africa | 2015/279499/07 | 2 | FSP 46534 |
Security while Trading
- Client assets are stored in separate bank accounts with reputable financial institutions, such as Citibank in Australia, for increased financial stability.
- European clients are protected by the FSCS, which compensates up to £85,000 if they become insolvent.
- SSL encryption is essential for preventing cyberattacks and identity theft, such as the unauthorized capture of credit card information and personal identification.
- The broker employs Secure Socket Layer (SSL) technology to encrypt data exchanged between a user’s computer and the broker servers, thereby ensuring protection against unauthorized intrusions.
- Periodically, the broker conducts security audits to identify and address potential vulnerabilities, thereby ensuring the platform’s resilience against evolving cyber threats.
Does FXCM offer negative balance protection?
Yes, the broker provides negative balance protection.
Is client money segregated from FXCM’s funds?
Yes, client funds are kept separate from there own.
Awards and Recognition
Received the following recent awards and recognition:
- Best in Class in 2023 for Algo Trading, MetaTrader, Professional Trading, Social Copy Trading, Platforms and Tools.
- Most Transparent Broker Globally in 2022, awarded during the Global Forex Awards.
- Broker of the Year in 2022, awarded during the Ultimate Fintech Awards.
- Best Forex Trading Platform in 2021, awarded during the Shares Awards.
- Best Trading Platform in 2021, awarded during the Ultimate Fintech Awards.
- Best Forex Mobile Trading Platform Globally in 2021, awarded during the Global Forex Awards.
What are some notable awards and recognitions that FXCM has received in the forex industry, and how do these accolades reflect the broker’s performance and services?
The broker has been recognized with several awards in the forex industry, which may highlight its excellence in areas such as trading technology, customer service, and overall broker performance.
How do FXCM’s awards and recognition contribute to its reputation and credibility in the forex market, and what advantages do traders gain from choosing an award-winning broker?
The brokers awards and recognition contribute significantly to its reputation and credibility as a leading forex broker, emphasizing its dedication to offering top-tier services and maintaining high industry standards. Choosing an award-winning broker such as they can provide traders with access to advanced trading technology, comprehensive educational resources, and reliable customer support.
FXCM Account Types and Features
CFD Trading
CFD trading allows Vietnamese traders to profit from currency, stock index, and commodity price fluctuations such as gold and oil without owning the underlying assets. There are numerous localized benefits available to Vietnamese traders who trade CFDs:
- Complete Stamp Duty exemption, resulting in a low-cost trading environment.
- Leveraged trading on various financial instruments is available, with leverages of up to 1:400 for traders registered with regulatory bodies other than the FCA.
- Competitive trading fees and meticulously crafted spreads.
Vietnamese traders’ potential leverages typically range from 1:100 to 1:400, depending on the legal framework for their trading account.
Active Trader
The Active Trader accounts have been meticulously designed to meet the specific needs of Vietnam’s frequent traders, providing a personalized trading experience.
Traders in Vietnam can advance their trading careers by becoming Active Traders. This exclusive status entitles them to various benefits, including tailored support, premium features, and innovative solutions tailored to their specific trading preferences.
Individuals in the United Kingdom and Ireland can also investigate various pricing options, including a Tax-Free account with competitive spreads and zero commissions.
The Active Trader account is only for traders completely dedicated to their craft. It demonstrates the brokers unwavering commitment to providing the highest level of service.
This exclusive offering provides its users with a slew of benefits, with a particular emphasis on meeting the needs of Vietnamese traders.
- Trading insights of institutional quality that improve decision-making processes.
- A specialized customer service system sensitive to active traders’ unique needs.
- Real-time access to Market Depth provides a comprehensive market landscape view.
- Tailored and personalized solutions that address the specific needs of active traders.
- Unrestricted API Trading access allows traders to take advantage of cutting-edge technology.
Demo Account
The broker provides a demo account for traders to practice forex trading without risk. The demo account gives traders £50,000 in virtual money and access to trading platforms, allowing them to test trading strategies and get a feel for the markets without risking any real money.
Many brokers provide a demo account, allowing investors to test a trading platform before putting their money at risk.
Opening a demo account is a simple process that can be done online. Traders can open a demo account by providing personal information and accepting the terms and conditions.
After creating an account, traders can access the platform and practice their trading strategies. The demo account includes the following features:
- £50,000 in virtual currency for trading practice
- Trading platforms such as Trading Station, MetaTrader 4, and NinjaTrader are available.
- Pricing information in real-time
- Technical indicators and advanced charting tools
- Stop-loss and limit orders are risk management tools.
- Webinars and video tutorials are examples of educational resources.
- The demo account has no time limit.
Islamic Account
Islamic account is an excellent choice for Muslim traders looking to trade Forex per Sharia law. The account is swap-free, meaning traders do not pay or receive interest on overnight positions, and they charge a flat fee for overnight positions.
Professional Account
Traders from Vietnam who wish to open a professional account with FXCM must meet the following eligibility requirements:
- Significant Trading Activity: Applicants must have held substantial positions in leveraged derivatives over the previous four quarters.
- Traders with a financial portfolio worth more than 500,000 EUR are also eligible for professional accounts.
- Experience Requirement: An essential prerequisite is at least one year of experience in a financial role that demands a strong grasp of derivatives trading.
- To qualify for a professional account, Vietnamese traders must demonstrate the essential skills, knowledge, and experience for making well-informed investment decisions.
Traders must be aware, however, that once they achieve professional status, they are no longer entitled to the same level of trader protections as regular traders. Notable differences include:
- The broker is required by the Financial Conduct Authority (FCA) to adjust leverage levels on certain retail products per regulatory requirements.
- Negative Balance Protection: Traders whose losses exceed their initial deposits must make additional payments to maintain a positive account balance.
- Differences in Risk Warnings Due to the complexity of complex financial transactions, the risk warnings applicable to regular traders do not apply to Professional Vietnamese traders.
- Caution with Greater Leverage: Investors must exercise extreme caution as greater leverage can magnify losses substantially.
Spread Betting Account
The broker does not provide spread betting to Vietnamese clients, only to those in the United Kingdom.
Base Account Currencies
The base account currencies available depends on the region and regulatory entity.
Basic Order Types
- Market Order – A market order can be either a buy or a sell order that executes at the current market price. This is the current price displayed on your platform’s chart. If you place a market order, you will be immediately entered at the best available price.
- Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at market to enter the trade immediately.
- Stop Order – A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
- This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.
- Limit Order – Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order.
- Limit orders can be either buy or sell limits, depending on the market’s direction before your anticipated reversal.
- A sell limit is used to sell above the market, while a buy limit is used to purchase below the market.
What are the features of an Active Trader account?
An Active Trader account is tailored to high-volume traders, with reduced spreads and dedicated support.
Does FXCM offer Islamic accounts?
Yes, the broker provides Sharia-compliant Islamic accounts.
How to open a FXCM Account – A Step-by-Step Guide
To open an account, Vietnamese can follow these steps:
STEP 1. Opening an Account
Vietnam traders interested in opening an account may visit the company’s official website. From here, they can choose the Demo account.
STEP 2. Fill in Information
Begin the process by selecting your country of residence and desired trading platform. You will then be redirected to a secure server where you can complete the application online. Provide your personal information and accept the terms and conditions to apply.
Step 3. Receive a Username and Password
You will receive a username and password upon completing the application. Login to the MyFXCM client portal, deposit, and begin trading.
What types of accounts does FXCM offer?
The broker offers a retail account that can be used for CFD trading and an Active Trader Account.
How long does it take to open an account with FXCM?
Opening an account with them online takes about 5-10 minutes.
How to Close an FXCM Account
To close a live trading account, Vietnamese traders can follow these steps:
- Access the FXCM trading platform or the client portal using your login credentials.
- Once logged in, go to the ‘Account Settings’ or ‘Profile’ section, usually in the top right corner or on the main dashboard.
- Look for the ‘Close Account’ or ‘Deactivate Account’ option. If you cannot find such an option, you may be able to submit a request for account closure through the ‘Support’ or ‘Help’ section.
- Some platforms may require you to complete a brief form or questionnaire about the reasons for your departure. Fill out any required fields.
- A confirmation prompt or email may be sent to you. Make certain that you confirm your decision to close the account.
- If you have problems or can’t find the option to close your account on the platform, contact the customer service. They can walk you through the steps or start the process on your behalf.
- After submitting your request, the broker will send you a confirmation message or email indicating that your account has been successfully closed.
- Before finalizing your account, ensure you have backed up any important data, trade history, or documents.
- If your account has any pending trades or balances, make sure they are settled before closing the account.
- Even after your account has been closed, keep an eye on your email for any final communications or updates.
Is there a fee for closing an account with FXCM?
No, there is no charge to close an account.
Can I close my account with FXCM over the phone or via email?
No, you cannot close your account over the phone or by email. All remaining funds in the account must be withdrawn via the MyFXCM client portal.
FXCM vs AvaTrade vs FOREX.com – Broker Comparison
| 🥇 FXCM | 🥈 AvaTrade | 🥉FOREX.com | |
| ⚖️ Regulation | FCA, ASIC, CySEC, FSCA | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA | NFA, CFTC, FCA, ASIC, FSA, IIROC, CIMA, SFC, MAS |
| 📱 Trading Platform | Trading Station MetaTrader 4 NinjaTrader ZuluTrade Capitalise AI TradingView Pro QuantConnect MotiveWave AgenaTrader Sierra Chart SeerTrading NeuroShell Trader | AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade | MetaTrader 4 MetaTrader 5 FOREX.com Platform |
| 💰 Withdrawal Fee | Yes, bank wire | No | No |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | USD 50 / 1228000 VND | USD 100 / 2444503 VND | USD 100 / 2444503 VND |
| 📊 Leverage | 1:30 (FCA) 1:400 (Other Reg) | 1:400 | 1:400 |
| 📊 Spread | From 0.2 pips EUR/USD | Fixed, from 0.9 pips | From 0.2 EUR/USD |
| 💰 Commissions | Only the spread is charged | None | $10 per round turn |
| ✴️ Margin Call/Stop-Out | 100%/50% | 25%/10% | From 100%/50% |
| 💻 Order Execution | Market | Instant | Market |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | No | Yes | No |
| 📈 Account Types | ECN ECN Plus ECN Zero Islamic | Standard Account Standard Cent Account Raw Spread Account Zero Account Pro Account | Standard Account Pro Account Elite Account |
| ⚖️ SBV Regulation | No | No | No |
| 💳 VND Deposits | No | No | No |
| 📊 Vietnamese Dong Account | Yes | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 1 | 1 | 3 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots (100k on DMA Account) |
| 📈 Maximum Trade Size | 50 million per trade on Forex | Unlimited | Depends on available funds |
| 💰 Minimum Withdrawal Time | Instant | 24 to 48 Hours | Instant |
| 📊 Maximum Estimated Withdrawal Time | Up to 2 working days | Up to 10 days | Between 1 to 2 working days |
| 💸 Instant Deposits and Instant Withdrawals? | Yes | No | Yes |
FXCM Trading Platforms
Offers Vietnamese traders a choice between these trading platforms:
Trading Station:
Proprietary platform, Trading Station, caters to novice and experienced traders with an intuitive interface, advanced charting tools, and various technical indicators.
MetaTrader 4:
MetaTrader 4 is a globally recognized trading platform with a user-friendly interface, automated trading capabilities via Expert Advisors, and a large marketplace for trading tools and indicators.
ZuluTrade:
A social trading platform, ZuluTrade allows traders to follow and replicate professional traders’ strategies while providing a unique blend of automated and manual trading options.
Capitalise AI:
Capitalise AI, which integrates artificial intelligence, allows traders to automate their strategies using natural language, simplifying the trading process without coding.
TradingView Pro:
TradingView Pro is a web-based platform that provides advanced charting tools, social networking features, and a collaborative environment for traders to share insights and strategies.
What is MetaTrader 4?
MetaTrader 4 is widely recognized as a trading platform with sophisticated charting capabilities, efficient order management functions, and handy automation tools.
Is Trading Station available for Mac users?
Yes, Mac users can use Trading Station.
Trading App
Investment Programs
The broker does not offer a separate investment program.
Which Markets Can You Trade?
Vietnamese traders can expect the following range of markets:
- Forex
- Shares
- Indices
- Commodities
- Cryptocurrencies
Broker Comparison for a Range of Markets
| 🥇 FXCM | 🥈 AvaTrade | 🥉 FOREX.com | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | Yes | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | No | Yes |
| ➡️️ Options | No | Yes | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | Yes | No |
Financial Instruments and Leverage offered
| 🔨 Instrument | 💰 Number of Assets Offered | 📈 Max Leverage Offered |
| ➡️ Forex | 45 | 1:400 |
| ➡️ Shares | 200+ | 1:20 |
| ➡️ Indices | 7 | 1:200 |
| ➡️ Commodities | 6 | 1:4 |
| ➡️ Cryptocurrency | 5 | 1:200 |
What are shares?
Shares are ownership units in a company that can be purchased and sold on the stock market.
Can I trade all markets with all types of FXCM accounts?
No, not all markets are available for trading with all account types.
Trading and Non-Trading Fees
Spreads
The broker offers varying spreads based on the account type, the specific financial instrument used, and the current market conditions on the trading day.
Commissions
The broker provides commission-free trading, with only the spread charged.
Overnight Fees
The broker charges overnight fees based on the financial instrument traded, the trader’s position (buy or sell), trading volume, and other variables. Vietnamese traders can consider short-term strategies such as scalping to avoid overnight fees.
Furthermore, Muslim traders can avoid swap fees by converting their live trading account to an Islamic Account. However, they are subject to commissions to compensate for the lack of overnight fees.
Deposit and Withdrawal Fees
Deposits are not charged. Withdrawals, however, may be subject to fees, particularly when using foreign bank wire transfers. Bank wire withdrawals incur the following fees:
- USD – 40 USD for accounts outside the United States and the United Kingdom.
- EUR Non-SEPA Payments – 30 EUR for accounts outside the United Kingdom, France, Germany, or Italy.
- GBP Non-BACS Payments – 30 GBP for accounts outside of the United Kingdom.
Inactivity Fees
Vietnamese traders should know that annual inactivity fees of $50 are levied when an account is dormant for 12 consecutive months. This fee will be applied until the account balance is exhausted.
Currency Conversion Fees
Specific mark-ups on the conversion rate are applied if a conversion is required for a deposit, withdrawal, or funds transfer. The most recent purchase price determines the following conversion rate.
The pip mark-up is calculated in USD terms. If the original currency of the trader in the conversion is not USD, the mark-up will be automatically adjusted based on the current exchange rate.
Does FXCM charge inactivity fees?
Yes, the broker charges $50 per year inactivity fees for accounts that have been inactive for 12 months or more.
Does FXCM offer any fee discounts or rebates?
Yes, the broker offers fee reductions and rebates to high-volume and active traders.
FXCM Deposits and Withdrawals
Offers Vietnamese traders the following deposit and withdrawal methods:
- Credit Card
- Debit Card
- CreditPay
- Bank Wire Transfer
- Skrill
- Neteller
- Klarna.
- Rapid Transfer
- Local Bank Transfer Philippines
- Local Bank Transfer Vietnam
- Local Bank Transfer LATAM
- Local Bank Transfer Vietnam
- Local Bank Transfer Indonesia
Broker Comparison: Deposit and Withdrawals
| 🥇 FXCM | 🥈 AvaTrade | 🥉 FOREX.com | |
| ⏰ Minimum Withdrawal Time | Instant | 24 to 48 Hours | Instant |
| 💳 Maximum Estimated Withdrawal Time | Up to 2 working days | Up to 10 days | Between 1 to 2 working days |
| 💰 Instant Deposits and Instant Withdrawals? | Yes | No | Yes |
Deposit Currencies, Deposit and Withdrawal Processing Times
| 💳 Payment Method | 💳 Max Deposit | 💳 Min Withdrawal |
| 💰 Credit/Debit Card | 30,000 CCY within one month | None |
| 💰 CreditPay | 30,000 CCY within one month | None |
| 💰 Bank Wire Transfer | 30,000 CCY within one month | None |
| 💰 Neteller | 20,000 units | None |
| 💰 Skrill | Instant | Instant |
| 💰 Klarna. | 5,000 EUR | None |
| 💰 Rapid Transfer | 5,000 EUR, GBP | None |
| 💰 Local Bank Transfer Philippines | 250,000 PHP | Withdrawal not supported |
| 💰 Local Bank Transfer Vietnam | 1,000,000,000 VND | Withdrawal not supported |
Are there any fees for depositing funds with FXCM?
No, the broker does not charge deposit fees, but your bank or payment provider may.
Is there a minimum withdrawal amount with FXCM?
Yes, the broker has a $50 minimum withdrawal amount.
How to Deposit Funds
To deposit funds to an account, Vietnamese traders can follow these steps:
STEP 1. Log in to MyFXCM
Log in with your live account credentials to MyFXCM.
Step 2. Select “Deposit Funds.”
Choose a deposit method, such as bank wire, debit/credit card, or e-wallet.
Step 3. Deposit Process
To complete the deposit process, follow the instructions.
What is the fastest way to deposit funds with FXCM?
A credit or debit card is the quickest way to deposit funds.
Is depositing funds in a different currency than my FXCM account currency possible?
Yes, you can deposit funds in a currency other than your account currency, but FXCM may charge a conversion fee.
Fund Withdrawal Process
To withdraw funds from an account, Vietnamese traders can follow these steps:
Step 1. Sign in to MyFXCM
Sign in to MyFXCM using the credentials for your live account.
Step 2. Select “Withdraw Funds”
Choose your preferred withdrawal method, such as wire transfer, debit/credit card, or electronic wallet.
Traders must note that their withdrawal will be processed within one or two business days and funds will be sent back to the payment method used during account funding.
Is it safe to withdraw funds from FXCM?
Yes, withdrawing funds is risk-free. FXCM employs cutting-edge security measures to safeguard your personal and financial information.
Can I withdraw funds to a third-party payment provider?
No, you cannot withdraw funds from a third-party payment provider. Withdrawals must be made using the same payment method as deposits.
Education and Research
Offers the following Educational Materials to Vietnamese traders:
- Trading Guides
- Trading Tools
- Top Reads
- Free Online Live Classroom
Research and Trading Tool Comparison
| 🥇 FXCM | 🥈 AvaTrade | 🥉 FOREX.com | |
| ➡️ Economic Calendar | Yes | Yes | Yes |
| ➡️ VPS | Yes | No | Yes |
| ➡️ AutoChartist | No | No | Yes |
| ➡️ Trading View | Yes | No | No |
| ➡️ Trading Central | No | Yes | Yes |
| ➡️ Market Analysis | Yes | Yes | Yes |
| ➡️ News Feed | Yes | Yes | Yes |
| ➡️ Blog | Yes | Yes | Yes |
Also offers Vietnamese traders the following additional Research and Trading Tools:
- Market Data Signals
- Market Scanner
- Trading Signals
- eFXplus Access
- Trading Apps
- Economic Calendar
- Trade Volatility
- Live Forex Charts
- API Trading
- Algorithmic Trading Resources
- Market Data
- TradingView Pro
- Margin Updates
- CFD Expirations
- Trading Hours
Does FXCM offer market analysis and research?
Yes, they provide market analysis, research, daily market updates, and trading signals.
What types of trading tools does FXCM offer?
The broker provides various trading tools, such as advanced charting, order management, and automation.
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Bonuses and Promotions
Offers Vietnamese traders the following bonuses and promotions:
- Friends and Family Referral Program
- FXCM Rebate Program
- Active Trader Rebate Program
Friends and Family Referral Program
The FXCM Rebate Program is intended for active traders in the market. Traders can earn different tier rebates based on their trading volume.
The broker will review the trading account and the associated USD notional trading volumes at the end of the last business day of each calendar month. Any rebates will be paid within 15 business days of the end of the following calendar month.
FXCM Rebate Program
The Active Trader Rebate Program is intended for high-volume traders. Traders who meet the monthly minimum combined notional volume of USD 10 million may be eligible for competitive cash rebates.
Active Trader Rebate Program
The Friends and Family Referral Program allows clients to refer their friends and family in exchange for cash rewards.
What is the Rebate Program offered by FXCM?
FXCM’s Rebate Program offers cash rebates based on the volume of trades executed by active traders.
Are there any restrictions or limitations to bonus offers and promotions with FXCM?
Yes, bonus offers and promotions, may be subject to restrictions or limitations, such as eligibility requirements and expiration dates.
How to open an Affiliate Account
To register an Affiliate Account, Vietnamese traders can follow these steps:
Step 1. Click on Refer now
Go to Affiliates’ website.
Step 2. Submit
Complete the registration form by clicking “Join Now.” When your application is approved, you will be directed to the Affiliates platform to create an account.
Sign in to your account and begin promoting FXCM to your target audience.
Affiliate Program Features
How much commission can I earn as an affiliate?
As an FXCM affiliate, you can earn up to $750 per qualified client.
Is there a minimum pay-out amount for affiliates?
Yes, the minimum pay-out amount for affiliates is $100.
Customer Support
The brokers customer service is excellent, with live chat, email, and phone support available 24 hours a day, seven days a week. For traders who need assistance immediately, the support team must be knowledgeable and quick to resolve issues.
The platform also features a thorough FAQ section that answers frequently asked questions, saving traders the time and effort of contacting customer service for minor issues.
In addition, our interactions with their customer service have been uniformly positive, bolstering the platform’s reputation for providing superior customer service.
| Customer Support | FXCM Customer Support |
| ☎️ Telephone/WhatApp | PHONE: +44 20 7398 4050 TOLL FREE: 0808 234 8789 |
| 🗺️ Website URL | https://aaafx.com/global/ |
| [email protected] | |
| 📙 FAQ’s | https://www.fxcm.com/markets/help/ |
| 🎓 Customer Service | 4/5 |
| 📍 Follow Us | Facebook |
What are the customer support hours?
The customer service hours vary by region, but assistance is available 24 hours a day, five days a week.
How can I contact FXCM customer support?
You can reach customer service by phone, email, or live chat.
Corporate Social Responsibility
Does not publish any current CSR initiatives or projects.
Verdict on FXCM
In our experience, the broker is a well-established forex broker in business for over 20 years. In addition, there strategy is to continue advancing its brokerage, making it easier, quicker, and more efficient for traders to access financial markets by using innovative technologies and excellent trading conditions.
Furthermore, the customer service is excellent, with support available 24 hours a day, seven days a week via live chat, email, and phone. The support team is knowledgeable and quick to resolve issues, which is critical for traders who need assistance immediately.
Social trading powered by ZuluTrade, is an excellent option for novice and experienced traders. However, traders should carefully consider their financial situation and comprehend the inherent risks of leveraged trading.
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Conclusion
For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.
Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.
Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Traders can contact FXCM 24 hours a day during the week | Customer support is not available 24/7 |
| FXCM’s customer support is prompt and helpful | |
| Traders can contact FXCM across communication channels |
Frequently Asked Questions
What is the minimum deposit for an account?
The minimum deposit starts from $50.
How do I deposit funds into my account?
You can deposit funds by logging into MyFXCM with your username and password for your live account and then clicking “Deposit Funds.”
Does FXCM have Nasdaq 100?
The broker offers Nasdaq under the symbol “NAS100” as a CFD on Indices with bid/ask spreads starting at 1 pip.
What are the fees for depositing funds into an account?
The broker does not impose any fees on deposits.
Is FXCM Safe or a Scam?
With a trust score of 95%, they are a safe broker for Vietnamese traders.
Is FXCM regulated?
Yes, the broker is regulated. The FSCA, CySEC, ASIC, and FCA all regulate.
How do I withdraw funds from my account?
To withdraw funds, sign in to MyFXCM and click “Withdraw Funds.”
Can I send funds through an exchange house to my account?
No, the broker does not accept transfers from exchange houses.
How long does it take to withdraw from FXCM?
Withdrawals can be instant or take up to two business days.
Does FXCM have VIX 75?
No, the broker does not offer the Volatility 75 Index.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all Vietnamese investors.
Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.
