Forex Capital Markets, better known as FXCM, is a retail on-line foreign exchange broker based in New York. It provides its services through its own on-line trading platforms and through third party platforms such as MetaTrader 4. FXCM allows retail and institutional clients to speculate on global foreign exchange markets in what is known as ‘margin forex trading’. It is one of the largest of the on-line margin based foreign exchange brokers. Outside the US, in addition to forex, it also provides trading in Contract for difference (CFDs) on major indices and commodities such as Gold and Crude Oil.