FXCM review
FXCM brings a long track record and an FSCA-authorised South African intermediary, with conservative leverage. African funding options are thin and there's no MT5.
#10 of 10
Score breakdown
Calculated automatically from the facts on this page. How we score.
Pros and cons
What we like
- Operating since 1999
- FCA, ASIC, CySEC and FSCA
- Low leverage protects beginners
- Strong research
Watch out for
- No local payment methods
- No MT5
- No ZAR account confirmed
Licences — verify them yourself
| Regulator | Entity | Licence | |
|---|---|---|---|
| FSCA South Africa | Stratos South Africa (Pty) Ltd | FSP 46534 | Verify on register ↗ |
| FCA United Kingdom | Stratos Markets Ltd | See register | Verify on register ↗ |
| ASIC Australia | FXCM Australia | See register | Verify on register ↗ |
Search the entity name or licence number on the regulator's own site. If they don't match exactly, don't deposit.
Accounts and costs
| Account | Min deposit | EUR/USD spread | Commission |
|---|---|---|---|
| Standard | $50 | Variable | None |
| Active Trader | Higher balance | Lower | Yes |
Standard and Active Trader accounts on Trading Station, MT4 and TradingView.
Deposits and withdrawals
- Payment methods
- Visa / Mastercard · Bank wire · Skrill · Neteller
- Withdrawals
- 1–3 business days
- Deposit currencies
- USD, EUR, GBP
- African-currency accounts
- None
Platforms and markets
- Platforms
- Trading Station, MT4, TradingView
- Execution
- No dealing desk
- Instruments
- FX, indices, commodities, stock baskets, crypto
- Currency pairs
- 40+ currency pairs
- Copy trading
- No
- Islamic accounts
- No
Support
24/5 · chat · complaints escalate to the FAIS Ombud
FAQ
Is FXCM regulated in South Africa?
Yes. Stratos South Africa (Pty) Ltd is authorised by the FSCA (FSP 46534). Check the number yourself on the FSCA register.
Is FXCM regulated in Kenya?
No. FXCM is not on the CMA's list of licensed online forex brokers.
Is FXCM regulated in Nigeria?
No broker is licensed for online forex by SEC Nigeria yet. The SEC published draft rules in September 2026; until they take effect, Nigerians trade with offshore entities.
What is the minimum deposit at FXCM?
$50. Payment methods can set their own minimums.
Can I deposit with M-Pesa?
Not that we could confirm. Supported methods: Visa / Mastercard, Bank wire, Skrill, Neteller.
Which platforms does FXCM offer?
Trading Station, MT4, TradingView.
How is the 5.4/10 score calculated?
From five weighted factors — regulation 30%, costs 20%, funding in Africa 20%, platforms 15%, support 15% — applied to the facts on this page. See "How we score" on our About page.
Sources: SA Shares ↗ · Last checked Oct 2026