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
Maybe you need to dump £1000s in an account to get away with a £1 per pip trade?
The problem is with FXCM is that it closes your trades too soon. All the money I have lost is from FXCM closing my trades early. Trading is about going being in a trade and being well under, this site does not allow you to ride out a trade at all. It gives off a quick alarm, no chance to even top your account either and closes your trade. Only twice out of the many trades FXCM has closed would I have been in trouble without closing it myself, all the other trades recovered. IMO the only losing trade in trading is a closed one, the way FXCM goes about closing a trade within a matter of 5 minutes reminds me of Binary Options. I have had longer Binary Options open than I have had trades opened with FXCM.
FXCM is a good FX Broekr
FXCM is another good company. they have been leasers in the FX industry an their track record speaks for itself.
Best broker for me.
I have been trading with FXCM just 4 months back and suffered extreme losses on my 1st, 2nd and 3rd month. I started to become profitable just before the brexit. I have already recovered my loses and even started to see my profit. I could say that FXCM for me at the moment is a good broker in terms of CS and platforms. There are slippage most of the times but I do understand it. So far I have not tried to withdraw any amount from my account. But I want to keep my trust with FXCM. Hopefully this trust will not be wasted. Let us not blame others for our mistakes.
FXCM IB Partner staff bad support. I think many Broker they want IB partner for join and work with them right? but i get many questions from FXCM staff IB. and i replied every thing true and frankly. We are analysis signalling service provider and we have many trader more than 1000 traders in my website. we really want to support and good service for our trader customer to deal become IB partner which customer they want to join. but right now, we change plan and ban FXCM due our internal Criteria same like them. This is FXCM replied " Unfortunately we are unable to proceed your application further due to our internal criteria. Kindest Regards Bxxxxx Cxx Institutional Client Group " I just share and feeling bad with bad staff mind of this broker. thank you.
I had been a customer of FXCM for 6 years or so. On August 1st I received an email from their compliance department telling me my account had been terminated. There was no reason given. This was the worst case of customer service I had ever encountered in any form of business. No forewarning, just cut, bang, see you in the next life. I requested the Australian manager's phone number to get an understanding of why, without notice, my account was terminated. It was not forthcoming. I still do not know why after a number of requests to FXCM compliance to explain their decision. Very angry and with a great sense of insult I did some research and found that I was not alone in my feelings. Refer: https://www.compareforexbrokers.com.au/australian-forex-brokers/ Scroll down to 'Customer Service and Reputation' and you will see FXCM sit very much at the bottom of the list. So Jason don't try and fluff up FXCM for being a great organisation.
Update, Received an Email from FXCM July 18th stating my ACH deposit has been returned. Please allow 4-6 weeks for funds to post.FXCM is a joke,I am also filing a NFA complaint 2016-07-15 No Rating Had a mini account with FXCM for about a year, deposited $20,000 on July 10. Received a Termination email the following day and on July 12th they cashed my ach deposit and told me I can arrange for a withdrawl when it clears into my account on the 18th. Stay Away
FXCM service is become worst and worst. now they separate our asia clients and western, even force us to use fxcm market, which is a broker that is under fxcm but not regulated. how can a broker refer to client to use a broker that cannot secure our money ? They even gave a super lousy offer of the spread and commission.
Jason, you suggest (but you should KNOW) : "it seems you were connecting to an MT4 server displaying our Standard account spreads on charts..." Not true, Jason ! I was connected to an MT4 which showed "no commission" spreads which were already artificially inflated compared to ECN spreads. So there is no "misunderstanding" on my part. Also I was on the phone with your support team before closing my account and if what you are suggesting were true, your support team could correct my "misunderstanding". Nothing of that sort was mentioned. I will definitely NOT re-open any account with FXCM. Bye bye 2016-07-08 2 StarsThis is about the mini account only ! I wanted to test the conditions on their mini account because those are participating in their monthly trading contest. My experience : I opened the account last week and funded it with the minimum amount. I closed the account after about of 30 minutes of trading. The good : 5 stars for the German support team. Jascha Harders was helpful and responded very quickly. 5 stars for the speed of deposit and withdrawal. The bad : ZERO stars for the trading environment at FXCM. I only do manual trading. For that test I entered only market orders on EUR and GBP. From the start I got bad fillings of 2 pips. The price I got was ALWAYS 2 pip worse than the actual spread shown in the MT4. No matter buy or sell or closing the position. This was NOT due to slippage or fast moving market. The trades I did happened all during a quiet time when the prices stood still for a moment. Only then you can see if the broker is cheating on you. And the cheating happened on EVERY trade. Also stops were triggered before the shown market price reached my stop level. Conclusion > their MT4 runs with a hidden additional 2 pip spread. This experience I had once with OctaFX and now the same experience with FXCM. For this reason > only 2 stars I don't understand why a broker does this cheating when they set a huge spread for that kind of "no commissions" account. That artificially high spread should be enough for them. I imediately closed my account. Bye bye FXCM Added by Jason Rogers on 2016-07-11 Hi Blue Marlin, Unfortunately, you closed your FXCM account due to a misunderstanding. If you use Trading Station, then the spreads you see on your charts depend on your account type: Mini or Standard. However, if you use MT4, then the spreads you see on your charts depend on the MT4 server to which you are connected. While the charts on some of our MT4 servers reflect the raw FX spreads available to Standard accounts, the FX charts on our other MT4 servers reflect the all-inclusive spreads (with no separate commissions) available to Mini accounts. From what you have described, it seems you were connecting to an MT4 server displaying our Standard account spreads on charts. However, by your own admission, you were trading on a Mini account. Note that while the prices your trades were executed at might have been slightly different from the raw FX spreads you saw on the MT4 chart, this would have been offset by the fact that you were not being charged commissions on these trades the way Standard accounts are. It's not too late for you to reactivate your Mini account, so you can see for yourself that what I say is true. I'm happy to help you get started again and can make sure you are connecting to one of our MT4 servers reflecting the all-inclusive spreads (with no separate commissions) available to your Mini account: http://bit.ly/1YFzng9 - Jason Rogers FXCM Ambassador
I'm gonna be straight to the point, DO NOT TRADE WITH THIS BROKER!!! On monday I closed my account, was told my funds request will be processed within two business days, they kept quiet until I sent an email on friday and it was only then they told me my request has been "finally approved"! I did not even receive my full amount! I emailed them asking them to explain and tell me about their hidden fees policy cause clearly there's one here, but of course, no response! I noticed they're very slow on withdrawals but very quick to act when one cancels a withdrawal request! STAY AWAY FROM THESE GUYS!
They are terrible in every way. During Brexit, they've arbitrarily changed their margins from 10% requirement to 50% requirement, increased the maintenance margin and increased the spreads. You must call their desk whenever your maintenance margin goes back into positive. I would strongly advise you to consider something else. Despite having large sum of money in my account, it is mostly useless as I can't trade with 50% margin. This limit has been placed now for 3 days+ . I question their liquidity if they have to place such high margin limit for a long period of time.