FXEM

x1250

1-2 years

What are the fees associated with FXEM?

WikiFX Reply

FXEM has different fee structures depending on the account type. For example, the Emperor account offers spreads starting from 0 pips but charges a commission of $3 per trade. On the other hand, accounts like the King and Caesar offer no commissions but have higher spreads. Personally, I prefer clarity on the full cost of trading, and I find the varying spreads and commissions across accounts to be somewhat complicated. It’s essential for me to understand what I’m paying for before committing my funds.

Broker Issues

FXEM

Fees and Spreads

08-23

United States

Ahmed Harb

1-2 years

What types of accounts can I open with FXEM?

WikiFX Reply

FXEM offers a range of account types, including King, Caesar, Emperor, and Pharaoh, each with varying minimum deposit requirements and spreads. I like the flexibility these account options provide, especially with the Pharaoh account, which has no minimum deposit. However, the spreads on certain accounts, like Pharaoh, are wider, which could affect the overall cost of trading. If I had to choose, I’d likely go with the Caesar account due to its lower spreads and no commission fees.

Broker Issues

FXEM

Account

Platform

Leverage

Instruments

07-25

United States

Rpy Sundram

1-2 years

Is FXEM a regulated broker?

WikiFX Reply

FXEM is an unregulated broker, and this is something I take very seriously. In my experience, when a broker isn't regulated, it’s a significant risk factor, especially when it comes to the safety of my funds. Regulation is important because it provides a level of assurance that the broker is following rules and standards that protect clients. In this case, the absence of regulation by recognized authorities means there’s no oversight to ensure the broker operates fairly and transparently. So, for me, it's a big red flag.

Broker Issues

FXEM

Regulation

07-19

United States

Ashraf20

1-2 years

Is FXEM legit for trading?

WikiFX Reply

FXEM’s lack of regulation makes it hard for me to label it as "legit" in the way I would trust a regulated broker. While the broker offers a variety of assets and trading tools, the lack of oversight leaves me concerned. A legit broker, in my view, should have regulatory backing, which acts as a safety net for traders. Without it, I feel uncertain about how the broker handles my funds or resolves potential disputes. I would advise caution if you’re considering FXEM for serious trading.

Broker Issues

FXEM

Regulation

07-05

United States