After gradingthe best forex brokerson nearly 100 different variables, FXCM is better than Global Prime. While its range of tradeable markets is very narrow, FXCM caters well to high-volume traders, algorithmic traders, and traders that appreciate robust trading tools alongside quality market research.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our team spent several months and hundreds of hours assessing 28 different forex broker accounts for trading FX. In total, over 2,200 data points were collected. For this review, we will compare FXCM vs Global Prime.
To start this comparison, first, we will take a look at the fees charged for trading forex. Its important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. FXCM is a better option with a 3.50 star rating over Global Primes 3.00 star rating.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, its very important to select a broker you can trust with your money. Both FXCM and Global Prime are regulated in a major hub. FXCM is a publicly traded company, Global Prime isnt. How many currency pairs are available to trade? Global Prime boasts an offering of 40 different currency pairs compared to FXCMs 39 available pairs.
To round out our comparison, lets look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Both FXCM and Global Prime offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Both FXCM and Global Prime provide clients with access to 31 total charting tools. FXCM and Global Prime offer the same number of indicators (eg, volume), 51.
Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The m staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
Advertiser Disclosure: ForexBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.Here is a list of our partners.
Disclaimer: It is our organizations primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBrokers.com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBrokers.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information.