Economy
FXCM Review 2023 | Main Features And Comparison To Other Major Brokers
FXCM Markets is a Bermuda-based company that offers a plethora of financial services worldwide. Registered under the British Financial Conduct Authority (FCA), it holds a license number 217689. FXCM is recognized for its global financial services and FCA regulation.
Traders Union conducted a comprehensive FXCM broker review where it proved its credibility and service excellence. Its recognition includes awards like “Best Trading Tools” and “Best Customer Support 2018” by FXEmpire.
FXCM: Advantages and disadvantages
Traders Union presents an insightful analysis of the pros and cons of engaging with FXCM:
Advantages:
- Access to a vast array of sought-after trading tools.
- Overseen by a dependable and esteemed regulator.
- Requires a minimum deposit as low as $50.
Disadvantages:
- Lack of trust management leads to the absence of PAMM accounts.
- No provision of incentives or bonuses to clients.
Expert review of FXCM
TU experts provide an analysis of FXCM broker’s features:
- Possesses vast expertise in the Forex market, ensuring reliability and optimal trading conditions.
- Offers two account types and a demo account option for beginners.
- Presents a wide array of trading instruments and platform choices (MetaTrader 4, MetaTrader Web, ZuluTrade, Trading Station Web).
- The absence of traditional bonus programs is a noticeable drawback.
- The broker’s website stands out with its functionality and user-friendly design.
Analysis of the main features of this broker
Per TU analysts, the evaluation of FXCM was based on several factors as detailed below:
- Overall score: 2.93
- Execution of orders: 2.72/10
- Investment instruments: 3.14/10
- Withdrawal speed: 2.78/10
- Customer Support work: 3.08/10
- Variety of instruments: 2.56/10
- Trading platform: 3.3/10
Trading conditions for FXCM users
TU sheds light on the trading conditions provided by FXCM broker:
- Acceptable trading conditions for all clients.
- Minimum deposit for a Mini account stands at $50.
- Spread size varies with specific trading tools; for example, as per FXCM’s Q1 2021 Spread Report, the minimum for EUR/USD is 0.2 pips.
- The minimum trade volume across all account types is 0.01 of a lot.
- For deposits up to $20,000, leverage is up to 1:400 for currency pairs and up to 1:200 for CFDs.
- For deposits exceeding $20,000, leverage is up to 1:100 for currency pairs and remains at up to 1:200 for CFDs.
Comparison of FXCM with other brokers
Traders Union presents a brief comparison of FXCM with other major brokers:
- RoboForex: Unlike FXCM’s $50 minimum deposit, RoboForex allows entry at as low as $10. However, FXCM offers a wider array of trading tools compared to RoboForex.
- Pocket Option: While Pocket Option excels in offering binary options, FXCM provides a more diversified offering with forex and CFDs. FXCM also boasts stronger regulatory oversight.
- Tickmill: Tickmill offers competitive spreads and is well-regulated like FXCM. However, FXCM provides more trading platform options, enhancing user experience.
- Exness: Exness stands out with its instant withdrawal service, whereas FXCM doesn’t. But FXCM counters with its wide array of trading tools and reliable regulatory oversight.
- AMarkets: AMarkets offer higher leverage than FXCM, appealing to risk-prone traders. But, FXCM has a more established market presence, providing a diverse range of trading tools.
In addition to all this, you can ask, is Forex.com a good broker? While the above comparison focused on FXCM and other brokers, it’s worth mentioning that Forex.com is also a reputable broker in the industry. Known for its strong regulatory framework, competitive trading conditions, and extensive range of trading instruments, Forex.com is a popular choice among traders. However, it’s essential for traders to conduct thorough research, consider their specific trading needs, and review customer feedback before making a decision.
Conclusion
Traders Union’s FXCM broker review highlights the company’s credibility, extensive range of trading tools, and reliable regulatory oversight. While lacking certain features like trust management and traditional bonus programs, FXCM offers acceptable trading conditions and a user-friendly platform. Traders seeking a reputable broker should consider visiting Traders Union’s website for more information and to make an informed decision based on their specific trading needs.
By Aduragbemi Omiyale
Transcorp Power Plc suffered declines in its revenue and profit in the first half of this year; details of the company’s financial statements for the period ended June 30, 2026, have revealed.
The losses were attributed to recurring transmission line vandalism, which materially constrained the organisation’s ability to evacuate available generation capacity.
Business Post reports that earnings contracted in the first six months of this year to N181.97 billion from the N205.81 billion recorded in the same period of last year, while profit before tax moderated to N54.99 billion from N58.73 billion.
However, on a year-to-date basis, total assets went up to N619.02 billion from N563.48 billion in December 2025, as shareholders’ funds grew to N189.34 billion from N183.40 billion in FY 2025, while retained earnings soared to N140.90 billion from N123.41 billion in FY 2025.
It was observed that the increase in receivables and borrowings largely drove the expansion in the balance sheet during the period.
Also, the firm’s gross margin expanded to 38.4 per cent from 34.7 per cent in H1 2025, operating margin increased to 30.6 per cent from 28.5 per cent, and PBT margin rose to 30.2 per cent from 28.5 per cent, reflecting cost optimisation efforts and disciplined financial management, positioning the company to continue delivering sustainable value for shareholders.
“Our H1 2026 performance is a reflection of the resilience of our business operations despite significant sector-wide existential challenges.
“Regrettably, recurring transmission line vandalisation materially constrained our ability to evacuate available generation capacity.
“Nonetheless, we continued to deliver strong profitability, maintain operational efficiency, and strengthen our balance sheet,” the chief executive of Transcorp Power, Mr Peter Ikenga, stated.
“We remain committed to working with relevant stakeholders to put an end to transmission line vandalisation and to further improving operational performance, power generation supply reliability, and creating sustainable value for our shareholders. We remain highly confident that we will recover lost ground in H1 2026 and finish FY 2026 stronger than FY 2025,” he added.
By Dipo Olowookere
A total of 2.819 billion stocks worth N182.499 billion exchanged hands in 226,729 deals on the floor of the Nigerian Exchange (NGX) Limited last week, in contrast to the 3.648 billion stocks valued at N220.568 billion transacted in 251,861 deals a week earlier.
From this, financial shares accounted for 2.006 billion units sold for N99.697 billion in 96,171 deals, contributing 71.17 per cent and 54.63 per cent to the total trading volume and value, respectively.
Consumer goods equities traded 178.863 million units worth N7.872 billion in 26,637 deals, and energy stocks recorded a turnover of 151.237 million units valued at N38.309 billion in 16,879 deals.
First Holdco, FCMB, and Access Holdings accounted for 939.402 million units worth N57.673 billion in 19,051 deals, contributing 33.33 per cent and 31.60 per cent to the total trading volume and value, respectively.
Business Post reports that the performance indicators were mixed in the five-day trading week, as the All-Share Index (ASI) depreciated by 0.14 per cent to 243,462.13 points, while the market capitalisation appreciated by 0.39 per cent to N157.057 trillion.
All other indices finished higher except the main board, consumer goods, energy, Lotus II, industrial goods, growth, and sovereign bond indices, which fell by 1.54 per cent, 0.15 per cent, 0.11 per cent, 0.40 per cent, 6.26 per cent, 0.09 per cent, and 0.33 per cent, respectively, while the commodity index closed flat.
Forty-four shares gained weight in the week versus 60 shares of the preceding week, 35 equities depreciated versus 28 equities in the previous week, and 67 stocks closed flat versus 58 stocks of the earlier week.
The best-performing stock was First Holdco, which gained 38.66 per cent to trade at N95.95. Thomas Wyatt expanded by 27.16 per cent to N3.09, Fidelity Bank grew by 15.00 per cent to N21.85, Learn Africa grew by 14.44 per cent to N10.30, and UBA chalked up 10.98 per cent to close at N45.50.
The worst-performing stock was BUA Cement after giving up 18.99 per cent to quote at N275.60, Red Star Express shed 18.53 per cent to end at N20.00, International Energy Insurance declined by 15.27 per cent to N4.66, C&I Leasing dropped 13.28 per cent to N5.55, and PZ Cussons crashed by 10.06 per cent to N80.95.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc kept the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.04 per cent on Friday, July 16.
The securities depository company added N2.50 to its share price to settle at N95.14 per unit from the preceding session’s N92.64 per unit.
However, FrieslandCampina Wamco Nigeria Plc slid during the session by N5.85 to N141.81 per share from N147.66 per share.
But when the bourse closed for the day, the market capitalisation increased by N1.08 billion to N2.593 trillion from N2.592 trillion, while the NASD Security Index (NSI) appreciated by 1.80 points to 4,320.67 points from 4,318.87 points.
During the session, the value of securities slid by 38.9 per cent to N63.5 million from N104.1 million, the volume of securities went down by 34.5 per cent to 1.2 million units from 4.8 million units, and the number of deals declined by 15.4 per cent to 33 deals from 39 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 75.4 million units traded for N5.3 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
