Objective: Noninvasive fetal electrocardiography is emerging as a low-cost and high-accuracy technology for fetal cardiac monitoring. Signal processing techniques have been used over the past fifty years in this domain. The current major challenges of this domain, addressed in this study are (1) fetal electrocardiogram (fECG) extraction from few numbers of maternal abdominal channels in low signal-to-noise ratios; (2) online fECG extraction; (3) automatic and online signal quality assessment and channel selection; and (4) accurate and robust fetal R-peak detection and ECG parameter extraction. Approach: Based on the theory of cyclostationarity, auxiliary maternal ECG channel(s) are synthetically constructed and augmented with the input channels. The augmented data are used to develop a robust multichannel source separation algorithm for online/offline fECG extraction, from as few as a single channel, and an accurate fetal R-peak detector using a two-pass matched filter. Several robust signal quality indexes (SQI) and a voting strategy are also proposed for automatic fetal signal quality assessment. Main results: It is shown that the fECG and the fetal R-peaks can be accurately extracted from standard online available datasets, for which classical source separation methods (requiring many channels) had previously failed. The signal quality indexes fully automate the extraction and channel selection procedure. Finally, the proposed R-peak detector is highly robust to background noise and residual maternal R-peak components. Significance: The proposed methods for fECG extraction, R-peak detection and automatic channel selection are evaluated (visually and numerically), on two online available datasets and compared with recently developed algorithms. The proposed algorithm is statistically shown to outperform the benchmarks in terms of average and standard deviation.