FXCM or Trading212 – which is better for UK traders 2024? Compare FXCM and Trading212 in this detailed breakdown of their platforms, features and fees.
FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM remains a popular choice for traders. The broker is also regulated by top-tier authorities including the FCA and ASIC.
Trading 212 is a European and UK-regulated CFD broker that also offers stock investing and ISAs. It’s best known for its commission-free trading model and beginner-friendly app, which has helped it attract 2.5 million users and £3.5 billion in client assets.
Pros
Alongside the 4 charting platforms, FXCM also offers a market-leading range of specialist software for experienced investors, including QuantConnect, AgenaTrader and Sierra Chart
The proprietary Trading Station terminal is a good choice for traders looking for an all-in-one solution for their short-term and automated trading strategies
Traders can utilize several top-tier trading tools including a market scanner, forex signals and third-party research site, eFXPlus
FXCM’s global reputation is impressive, with licenses from the FCA, ASIC, CySEC and FSCA and a 20-year business history
A range of funding methods are available including bank cards, Apply Pay and PayPal, with instant processing times
The broker offers spread discounts and other excellent perks for experienced traders in the Active Trader account
FXCM has expanded its range of trading opportunities with 24-hour stock CFDs through MetaTrader 4
One of the standout features of Trading 212 is its commission-free trading, meaning you can buy and sell stocks, ETFs, and other financial instruments without incurring traditional brokerage fees
Trading 212 has an intuitive and user-friendly platform that is especially accessible for beginners, with a straightforward layout and a reasonable range of tools for analysis
The platform offers a good suite of instruments, including stocks, indices, ETFs, currencies, commodities, and CFDs. This variety can help you to create a diversified investment portfolio
A sleek mobile app lets you trade on the go. It’s well-designed and offers features similar to the web platform, making it convenient if you prefer mobile trading
Up to 5.1% interest on uninvested cash is available, appealing to hands-off investors
Cons
Although FXCM continues to gear their services towards experienced traders, it’s a shame that there are no managed accounts on offer
There is no choice of retail accounts for traders, nor any Cent/Micro account options
The live chat support can be slow and unreliable compared to the top competitors
Experienced traders who rely on sophisticated technical analysis tools will find Trading 212’s charting features to be somewhat basic, especially compared to alternatives like IG
While Trading 212 offers leveraged trading through CFDs, there are restrictions on leverage for certain instruments. If you want high leverage for your strategies, you will find these limitations constraining
There’s no copy trading, a significant drawback given Trading 212's client base is largely beginners and brokers like eToro offer this feature
There is no support for algorithmic or automated trading, nor third-party apps like MetaTrader 4, which will deter advanced traders. IC Markets ticks these boxes
Trading212 have positioned themselves at the front of the mobile trading movement. Their platform is based on a ‘mobile-first’ model, so they prioritize this type of trader. The app offers 1800+ instruments, zero commissions and a free practise account. Download the app risk free and try it out.
iOS App Rating
Android App Rating
Margin Trading
Yes
Yes
MetaTrader 4
Yes
No
MetaTrader 5
No
No
cTrader
No
No
AlgoTrader
No
No
OmniTrader
No
No
TradingView
Yes
No
Autochartist
No
No
eSignal
Yes
No
Trading Central
No
No
STP Account
No
Yes
ECN Account
No
No
DMA Account
No
No
MAM Account
Yes
No
PAMM Account
No
No
LAMM Account
No
No
Demat Account
No
No
AI / Machine Learning
No
No
Robo Advisor
No
No
Negative Balance Protection
Yes
Yes
Market Maker
Yes
Yes
P2P Trading
No
No
Spot Trading
No
No
Auto Trading
AutoInvest Portfolio
Copy Trading
Yes
No
Copy Trading Platform
FXCM offers social and copy trading on forex, CFDs and cryptos through the hugely popular ZuluTrade platform. The sign-up process is quick and you can track your performance in real-time.
Social Trading
Yes
Yes
VPS Hosting
No
No
Tournaments
No
No
Demo Competitions
Yes
No
Ethical Investing
No
Yes
Custodial Account
No
No
Guaranteed Stop Loss
No
No
Islamic Account
No
No
Account Currencies
USD
EUR
GBP
CAD
AUD
ZAR
CHF
USD
EUR
GBP
CAD
SEK
NOK
DKK
CHF
PLN
CZK
HUF
Commodities
Gold
Oil
Silver
Cannabis
Gold
Silver
Gasoline
Oil
Copper
Palladium
Coffee
Cotton
Platinum
Corn
Sugar
Cocoa
Livestock
Wheat
Soybeans
Natural Gas
Lead
CFD
You can trade a range of CFD instruments across forex, shares, indices and commodities. There’s an excellent selection of platforms for traders, including TradingView and MT4, plus additional tools for experienced algo traders including API solutions.
Engage in leveraged CFD trading across a wide array of instruments, encompassing forex, stocks, commodities, and indices. Yet while the selection of asset classes is satisfactory, the charting software and floating spreads for short-term traders fall behind that of competitors.
Leverage
1:30
1:30
FTSE Spread
1.18 pts var*
2.5
GBPUSD Spread<
0.5 pips*
0.00028
Oil Spread
0.05 (var)*
0.4
Stocks Spread
0.2% Var*
0.2% Var
Forex
FXCM offers an average range of 40+ currency pairs, although there are no commissions and spreads are competitive from 0.78 pips for EUR/USD. The broker also offers 3 forex baskets covering USD, Yen and emerging markets benchmarks.
Trade over 180 major, minor, and exotic forex pairs on the Trading 212 platform, featuring floating spreads and leverage up to 1:30. It’s important to note, though, that the forex broker has a history of adjusting margin requirements without providing adequate notice. As a result, CMC Markets is a better pick for forex traders with more currency pairs and a cleaner record.