Updated September 29, 2026 · BrokerCue Editorial Team
FXCM vs Smartbroker
What sets them apart
| Compare |  FXCM |  Smartbroker |
|---|---|---|
| Minimum deposit | $50 | €0 |
| Markets | Forex, CFDs, Crypto | Stocks, ETFs, Crypto, Bonds, Funds, Metals |
| Regulators | FCA | Federal Financial Supervisory Authority (BaFin) |
| Investor protection | FSCS up to GBP 85,000 | EU ICS up to EUR 20,000 |
| Account fee | Not confirmed | €0 |
| Retail accounts that lose money | 63% | Not confirmed |
| Platforms | Not confirmed | Web, App |
| Interest on cash | Not confirmed | 2.25% |
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Key differences
- Smartbroker scores higher overall: 9.4 vs 8.7.
- Regulators: only FXCM offers FCA.
- Regulators: only Smartbroker offers Federal Financial Supervisory Authority (BaFin).
- Markets: only FXCM offers Forex, CFDs.
- Markets: only Smartbroker offers Stocks, ETFs, Bonds.
Our verdict on each
FXCM
FXCM suits UK traders who want a single regulated account for forex, CFDs and crypto, opening from a minimum deposit of $50 with client money covered by FSCS up to GBP 85,000. The licence is a known name, which matters more than a bargain headline, since 63% of retail accounts lose money.
Smartbroker
Smartbroker runs a European brokerage with a €0 account fee and a €0 minimum deposit, which puts it at 1 on the site for deposit levels. It suits investors who want stocks, ETFs, funds and crypto in one account and would rather not pay a monthly charge.
Score breakdown
| Area | FXCM | Smartbroker |
|---|---|---|
| Cost | 8.7Entry starts at $50 against a €4.64 site median, with dealing limited to forex, cfds and crypto. | 9.5Higher |
| Offer | 8.8 | 9.2HigherLow-fees model across stocks, etfs and crypto, supervised by BaFin and Federal Financial Supervisory Authority (BaFin) and reachable on email, phone and help centre. |
| Trust | 8.6 | 9.5Higher |
Licences and countries
| Country | FXCM | Smartbroker |
|---|---|---|
| Germany | Not confirmed | Federal Financial Supervisory Authority (BaFin) MiCA CASP 391200N0BYCZF2F43264 |
| United Kingdom | FCA 217689 | Not confirmed |
What each covers
| Markets | FXCM | Smartbroker |
|---|---|---|
| Stocks | No | Yes |
| ETFs | No | Yes |
| Forex | Yes | No |
| CFDs | Yes | No |
| Crypto | Yes | Yes |
| Bonds | No | Yes |
| Funds | No | Yes |
| Metals | No | Yes |
Where these facts come from
FXCM
- brokerchooser.com: 4 facts, checked September 26, 2026
- forexsuggest.com: 1 fact, checked September 26, 2026
- fxcmaffiliates.com: 1 fact, checked September 26, 2026
Smartbroker
- smartbrokerplus.de: 10 facts, checked September 26, 2026
- esma.europa.eu: 2 facts, checked September 26, 2026
Every fact side by side
| Fact | FXCM | Smartbroker |
|---|---|---|
| Features | Not confirmed | Crypto, Mobile app |
| Pricing model | Not confirmed | Low fees |
| Legal entity | Stratos Markets Limited | Smartbroker AG |
| Headquarters | Not confirmed | Germany |
| Support channels | Not confirmed | Email, Phone, Help centre |
Where each stands against the rest
| Fact | FXCM | Smartbroker | Median |
|---|---|---|---|
| Account fee | Not confirmed | €0at the median | €0 |
| Retail accounts that lose money | 63%lowest quarter | Not confirmed | 72.05% |
| Interest on cash | Not confirmed | 2.25%below the median | 3% |
Median across 52 listed brokers.
Pros and cons
FXCM
Pros
- FCA regulation with FSCS up to GBP 85,000 protection standing behind client money.
- forex, cfds and crypto markets sit in the same account, so CFD and crypto trades stay under the same licence.
- A named UK operator, Stratos Markets Limited, sits behind the brand and the FCA licence 217689.
Cons
- The $50 minimum deposit is higher than CFI at $0 and Vantage at $5.
- The market list stops at forex, cfds and crypto, so no shares, ETFs or futures dealing sits alongside currency and crypto.
Smartbroker
Pros
- Account fee of €0, matching the $0 account fee at eToro and sitting at 1 among 138 brands on account fee.
- Nothing to pay to open, with a minimum deposit of €0 against a site median of €4.64.
- One account covers stocks, etfs and crypto.
Cons
- Protection is limited to what the scheme pays, listed as EU ICS up to EUR 20,000, so larger balances rely on your own holdings.
- Support runs on email, phone and help centre only, with no live chat listed.
- Markets stop at stocks, etfs and crypto, with no forex, options or futures listed.
Who each suits
FXCM
Who it suits
- UK retail traders who want forex, CFDs and crypto under a single FCA licence rather than several brokers.
- Traders who check the operator before depositing: Stratos Markets Limited and licence 217689.
- Anyone prepared for leverage, with 63% of retail accounts losing money.
Who should look elsewhere
- eToro, if you also want shares, ETFs and futures, since it lists stocks, etfs and forex.
- CFI, if you want to start without committing cash, since its minimum deposit is $0.
- Vantage, if a smaller starting deposit matters, since Vantage asks $5.
Smartbroker
Who it suits
- European investors who want a German-regulated account holding stocks, etfs and crypto under one roof.
- Anyone with spare cash to park while they decide, with 2.25% on the daily deposit account.
- People who trade away from a desk, since access runs through Web and App.
Who should look elsewhere
- Vantage, if you would rather start against a published floor of $5 than an open entry of €0.
- eToro, if your trading runs past the stocks, etfs and crypto list here and you want to weigh its range against Smartbroker's.
- Anyone holding a large cash balance, since protection is listed as EU ICS up to EUR 20,000.
Country by country
| Country | FXCM | Smartbroker |
|---|---|---|
| Germany | No | Yes |
Questions about each
FXCM
What do I need to deposit to open an FXCM account?+
The published minimum deposit is $50, higher than the €4.64 median across brokers on the site. For comparison, CFI lists a minimum deposit of $0 and Vantage $5. Beyond that floor the account size is yours to set, and it shapes position sizing rather than the trading fee.
Who regulates FXCM in the UK?+
FXCM is regulated in the UK by the FCA, the sole regulator listed for the brand, and the FCA licence number is 217689. UK clients therefore sit inside the UK regulatory perimeter, with rules on how the firm holds money and treats clients. Anyone outside the UK would need to check their own regulator before opening.
Smartbroker
What does Smartbroker charge to hold an account?+
The account fee is €0, so there is no monthly charge for keeping the account open. Entry is also open, with a minimum deposit of €0. Trading costs still apply on individual orders, and the pricing page is where per-trade charges are set out.
Is my money protected at Smartbroker?+
Smartbroker is regulated by BaFin and Federal Financial Supervisory Authority (BaFin), and the listed investor protection is EU ICS up to EUR 20,000. The German regulator supervises the firm, while the compensation scheme pays out on eligible balances up to the stated limit.