February 26, 2014: FXCM.uk fined by the FCA. Click here to read about it in the FPA's forums, along with FXCM's response.
October 3rd, 2011: FXCM fined by the CFTC. Click here to read about it in the FPA's forums, along with FXCM's response.
FXCM is a forex broker. FXCM offers the MetaTrader4, Active Trader, Mirror Trader, Ninja Trader, and Zulu Trade top forex trading platforms. Fxcm.com offers over 50 currency pairs for your personal investment and trading options.
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Fxcm.com profile provided by Maria Ramos , Sep 24, 2014
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide. At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM’s large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
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- Not guilty0
I opened a trading account with FXCM, made a deposit of $ 1800 and then made a profit of approximately $ 2,700. After that I ordered the withdrawal of the principal capital ($ 1800) and the withdrawal was successful.
Then I asked to withdraw the profits of ($ 2715) and the amount was deducted from my trading account with notification that the transfer needs 3 to 5 working days to reach my bank account, but on the fourth day on 03/07/2017 the amount was returned to the trading account.
After that I was notified through email that your trading account has been temporarily suspended, and to this day the account is suspended and I can not trade or withdraw money, and whenever i communicate with them, they tell me that your account is under review.
They have been reviewing my account for more than a month without any updates, and I need to withdraw my money but they are preventing me from doing so under the pretext of reviewing the account.
(account no: 96053170 / name: EISA ALMASRY / broker: FXCM.COM)
Attachment: Account statement from the beginning to the day
some of my operations were closed before to reach the stop loss , I saw how after the market choose the way were my take profit was.
Problem with fxcm brokerage company
I will present a summary of the existing problem between me and FXCM
My speech may explain this problem to anyone viewing the files attached to this letter that containing the evidences supporting my claim to all my material and moral rights from FXCM
I would like to ask you to allow me to extend the length of the videos, but I wanted to clarify the evidence supporting my case in detail to help you make a fair judgment in this case
I’m a customer at this company several years ago , I did not expect what you will see in those videos of the excesses and errors in the lists sent by the company to customers through its platform known Trading Station 2 , which is always advising customers to use and depend on it
My ID at FXCM is : 2088157449
My total deposits over the years I spent with the company were : $ 28,477.93
It is known in the forex market and the most important factors of entry and exit from it less losses are places, models and forms of candles and it’s time
FXCM manipulates customers through what comes :
1 - The company manipulates the redrawing of candles on the chart and changing places to deceive customers at the points of entry and closure
An example of this is :
The customer can imagine when he sees the shapes, models and places of the candles that are drawn that these candles indicate a sign of buying or selling while the correct drawing is the opposite of that vision that the company has drawn through the chart
After the customer enters the deal and reopens the platform later, with view of the chart, especially the small frames, the customer finds a complete change in the shapes and models of the candles
Clearly, this deliberate and repeated error of the company happen when we see the entry candle of the trading and determined by the platform is marked with an upward arrow in the case of the purchase and a downwards arrow in the case of the sale does not pass essentially at the price of entering the deal from which the trading has already started
While at the beginning of the deal there were candles already drawn in this place and time or this trade will not be occurred here as long as the price did not pass
Note : The Company offers, through its platform, a chat for buying and another for selling .
* This means :
If we have activated the purchase transaction, it must pass the candle entry at the purchase price on the purchase chart and it is not necessary to pass the same candle at the price of entry on the selling one
And the opposite is true. If we have activated a sale transaction, the entry candle must pass at the price of entry on the sales chart and it is not necessary to pass the same candle at the purchase price on the purchase chart
* As long as there is a buyout and a chart for sale so there is no average price
2 - The company is drawing candles that do not exist on the chart in real
* The company draws some candles on the chart that makes the customer imagine the wrong direction of the price
An example of this is :
If we opened the chart and formed a reflective candle based on this we entered a deal to buy or sell either according to the location of the candle and then we open the same chart after a period of time and considering the place of the candle that was already drawn in it will not find it in place
3 - The company manipulates the candlestick time on the chart
* The importance of time is the time of entry and time of exit transactions and the time of opening and closing sessions in global stock exchanges such as the
Asian session and the European session and the American session
An example of this is :
If we opened the 15 minute chart (each candle represents 15 minutes of time) we will find two adjacent candles and the time difference between them 60 minutes
It is clear to us from the above errors that the company is working on the system
Dealing Disk and not the No Dealing Disk and does not apply what was agreed in the contracts with the client and this is a defect in the terms of the contract
I continued with the company when I discovered this incident happened on 13/03/2017 and sent them pictures and video clips online and after 11 days of procrastination and irrational speech I made a complaint in the complaints department of the company under # 00419732 on 25/03/2017 Three days later, the specialists in the department responded to the final complaint on 28/03/2017 and their response was that there are no problems and everything is correct
On 28/04/2017 I filed a complaint with the regulatory body subject to which the company (FCA)
On 03/05/2017, the final reply was received from the regulatory authority controlled by the company (FCA), stating that they did not find in the videos sent to them what the company owes
All the videos and attached pictures are all deals since the beginning of the discovery of the problem by pure coincidence and even send them the final reply, which deny any errors and errors still exist and this indicates that these errors exist since the beginning of dealing with the company and therefore I demand the company all material rights And moral
I ask what I get from FXCM :
1 - All my deposits with the company since the beginning of opening my account
2 - Full benefits of the amount
3 - Compensation for the time lost without any benefit
4 - Substitute moral compensation because of the psychological and material stress suffered due to successive losses that the company deliberately caused it with me
Attached is this video links links that prove my words :
All thanks to you
NEVER TRADE WITH THEM ! They will ROB you too
i finaly know why my stoploss always get hit by night ,,, i checked other brokers charts and it's clear that the US financial authority Stoped FXCM from working in US for a goooood reason !!! because FXCM is a FRAUD and a Big Scam
I have been scammed under the name of FXCM through a guy who represented himself as their representative and forged a contract with a my fake signature that illegally authorised FXCM to over charge me commission. Although I provided them with proofs and the acknowledge that they almost 70k worth of commission has been transfered to this guy. They still refuse to pay me back the commission! Absolute Fraud !
No micro accounts. Approval is such a pain to gain for small traders
I have initially applied to open an account. Feel uncomfortable declaring my worth online as it was my first option to trade after some workshops. They will reject applications when declared low trading less than $100 usd. lol
I fell to the same trap as JVC described in detail below and many other reviewers as well. I had opened an UK FXCM account in 2012 and funded with 100£, but the account was not LIVE, because was not verified by me (I did not send the proof of the documents ID, etc..), so I wasn't able to use it. I left the money in the account. In 2017 I decided to check my account and place with a new fund, to my surprise my account has been wiped away and my money has been Stolen!!! They Steal as they Can!!!
Its 8 years since I first opened an account with FXCM. Excellent services in quires replies, withdrawals and homepage contents. Excellent 24/5 chat, you always get someone with knowledge helping you. I give them 5 stars and I am convinced with it.
Loser you are.
I believe that FOREX trading is a nightmare... I have been reading about almost all the #1 rated FOREX trading platforms and they all suck... When money is involved in any type of business, you are intitled to getting your money stolen if you dont have first hand on your accountband with FORESX trading you are at the mercy of individuals you dont know... and the only res^ponse you will get is that FOREX trading is high risk and you are the loser.
FXCM Stole my Money
I had an account with FXCM in the past, I wanted to withdraw all of my funds in the account at the time, but I was told by Jason Rogers that I had to leave $50 so as to keep my account open just in case I changed my mind and want to come back with FXCM in the future. So I left $50 in the account. Today I decided I will put some money into my FXCM forex account. I logged in to FXCM back office and successfully did. To my surprise the balance shows $0.00, my $50.00 gone. My account stayed open alright, but my money was stolen by FXCM. Jason Rogers please respond.