FXCM US vs. FXCM UK
With all of the CFTC discussion taking place in the forex community, questions keep coming up about how FXCM UK compares to FXCM US. To give a little background, FXCM LLC is the US entity with the website www.fxcm.com (demo link); whereas FXCM Ltd is the UK entity with the website www.fxcm.co.uk (demo link).
Here's some basic information on FXCM UK vs. FXCM US:
The CFTC proposal will only affect accounts held with FXCM LLC (US). Since FXCM UK falls under FSA regulations, accounts will be unaffected by the proposal on leverage reduction.
Another added benefit for FXCM UK accounts is that the accounts are segregated in accordance with FSA client money rules. Account segregation is not something currently available through US regulations.
Here's some basic information on FXCM UK vs. FXCM US:
The CFTC proposal will only affect accounts held with FXCM LLC (US). Since FXCM UK falls under FSA regulations, accounts will be unaffected by the proposal on leverage reduction.
Another added benefit for FXCM UK accounts is that the accounts are segregated in accordance with FSA client money rules. Account segregation is not something currently available through US regulations.
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Now i have a question, i currently have a micro acc. at FXCM, is this always UK then? And i heard something about, if it exceeds the 5K acc-size, it turns in to a standard acc? (also UK?)Posted 01-27-2010 at 02:14 PM by CVD
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Hey CVD,Quote:Originally Posted by CVD
Now i have a question, i currently have a micro acc. at FXCM, is this always UK then? And i heard something about, if it exceeds the 5K acc-size, it turns in to a standard acc? (also UK?)
The micro account could be with either FXCM UK or FXCM US. To check, run a combined account statement through the FX Trading Station or www.myfxcm.com and at the bottom of the report it should say Forex Capital Markets Ltd with the UK address if your account is with FXCM UK, or Forex Capital Markets LLC with the US address as the bottom if the account is with FXCM US.
Whenever you setup a micro account initially, the application asks if you're a US resident or non-US resident. If you select US resident, the account is automatically setup with FXCM US. If you select non-US resident, the micro account is setup with FXCM UK.
We're in the process of setting up an application for US residents to open the micro account with FXCM UK, but it is not ready yet. Until then, you can have your micro account transferred from FXCM US to FXCM UK by completing the transfer request found here
i see, thxPosted 01-27-2010 at 03:13 PM by CVD
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