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Fxcm.com Review Visit site

Updated: May 19, 2017
2.382 · 528 REVIEWS
Is this your company?
February 6, 2017:  FXCM fined $7 million by the CFTC for defrauding retail forex customers.  FXCM to deregister from the CFTC. CLICK HERE to read and discuss the CFTC announcement.
August 18th, 2016.  The CFTC has filed charges against FXCM related to undercapitalization during the SNB-CHF crisis of January 2015.  One of the charges is that FXCM guanteed client accounts against negative balances.  Evidently, this form of client protection is against CFTC rules. CLICK HERE to verify.

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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2.382 · 528 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

bruxelles, Belgium
May 14, 2017
Guest

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

Reply by Jason Rogers submitted May 18, 2017:
Hello Samir,

We take trade disputes very seriously. If you believe there has been an error with the execution of a trade I would encourage you to submit a trade inquiry https://www.fxcm.com/uk/forms/trade-inquiry/ . We have a team dedicated to reviewing the elements specific to your query. If an error is found on our side, our team will take every effort to find a fair and equitable solution. Your satisfaction is very important to us.
Netherlands
May 10, 2017
Guest

FXCM Fraud!!

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 !

Manila, Philippines
May 10, 2017
Guest

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

Reply by Jason Rogers submitted May 18, 2017:
Hello Graceyo,

I am sorry to hear that we were unable to accept your account application. FXCM is required to conduct due diligence on each client when opening an account in accordance with regulations. If all details cannot be confirmed then we will be unable to open the account. FXCM does not accept or reject accounts based on client trading volume. The minimum trade size available with FXCM is a micro lot size of 1k and the minimum deposit required to open a live mini account is £50 or $50 depending on your account currency denomination. We have to take the necessary steps to protect clients and ensure our account opening procedure is in accordance with regulatory requirements.
United Kingdom
May 8, 2017
Registed user

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!!!

Reply by Jason Rogers submitted May 11, 2017:
Hi interzeptor,

If there has been no activity in the account for more than 1 year an inactivity fee may be charged as outlined in the trading agreement. Clients are emailed in advance of the inactivity fee being charged for you to either withdraw the funds or continue trading. If you have any additional questions, our customer support team is available 24 hours a day to help.
Manama, Bahrain
Apr 20, 2017
Registed user

Excelent

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.

Reply by Jason Rogers submitted Apr 28, 2017:
Thank you for trading with FXCM Husain. We appreciate your business!
Montteal, Canada
Apr 1, 2017
Guest

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.

California, USA
Mar 13, 2017
Guest

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.

Reply by Jason Rogers submitted Mar 30, 2017:
Hi JVC,

In order for an account to remain active, there must be funds in the account. However, you should bear in mind if there has been no activity in the account for more than 1 year an inactivity fee may be charged as outlined in the trading agreement. Clients are emailed in advance of the inactivity fee being charged for you to either withdraw the funds or continue trading. If you have any additional questions, our customer support team is available 24 hours a day to help.

Jason
Dallas,Tx, USA
Feb 13, 2017
Registed user

POS company that stabs you in the back.

Worst experience ever. As I started getting better at trading they would close the other pair so if I closed GBPUSD the USDJPY position would close. The second time it happened I pulled my acct and went to another broker...no probs.

Reply by Jason Rogers submitted Feb 15, 2017:
Hi Texguy,

We're sorry to see you go, but are glad all is going smoothly with your trading now. That said, the problem you described with the wrong currency pairs being closed on your platform sounds like a tech issue and is nothing deliberate on our part. I understand you no longer trade with us, but if it's not too much trouble, we would still like to investigate what happened for you. You can email as at techsupport AT fxcm DOT com, and one of our tech specialists will follow up.
Indianapolis, USA
Feb 11, 2017
Guest

Nothing but good execution, fast withdrawals, and 24 hour metatrader support.
SHAME IMHO that the CFTC is shutting them down to US traders. Nothing but good service in the two years with them. Oh well.

Reply by Jason Rogers submitted Feb 13, 2017:
Thanks for your feedback, Rex! On behalf of all my colleagues, I want to express our most sincere thanks to you and all our US customers who have been with us over the years and wish you all the best following this transition.

While I can't comment on the NFA/CFTC complaint specifically due to the nature of our settlement, I can say that we have settled with the NFA and CFTC without admitting or denying any of their allegations or claims. Part of our settlement with the NFA and CFTC was to close our US subsidiary, but there will be no changes for clients outside of the US.

For our US clients wanting to continue trading uninterrupted, FXCM and GAIN have entered into a definitive agreement for GAIN to acquire the client base of FXCM's US operations. The transaction is subject to regulatory approval. FXCM and GAIN are working to determine the timing for the account transfer and expect to provide further information in that regard in the coming days.

We will for the interim period continue to service our US customers and to provide top quality trade execution pending the customer-account sale and business withdrawal. FXCM will also be working diligently to be sure that an account transition to GAIN's retail brand, FOREX.com, will be orderly, expeditious and seamless.

Four our clients outside the US, please note FXCM would not have suffered more than $200 million dollars in losses during the SNB flash crash had it been taking the other side of client trades – unlike so many of the DD firms in the industry. We have made our execution study public in the UK which can be viewed here and is a transparent comparison of FXCM's actual execution vs top tier futures brokers and the interbank market: http://bit.ly/2di2WEC

Since FXCM US has not been a contributor to overall profits for the firm over the past few years, FXCM will target significant cost cutting by closing the US entity. Specifically, withdrawing from this business will free approximately $52 million in capital. We will use the proceeds from any sale of the US accounts, as well as the large amount of regulatory capital currently tied up, to reduce the balance of our loan from Leucadia. With the reduction of this loan balance, along with sales of non-core assets that were previously announced, FXCM could be in a position to fully pay off the Leucadia loan before the end of this year.

With this exit, FXCM will be in a better position to service our international customers and focus on our profitable subsidiaries: http://ir.fxcm.com/releasedetail.cfm?ReleaseID=1011502

Our full financials can be found here http://ir.fxcm.com/ and we will announce our Q4 and full year 2016 financials in the next few weeks.
WA State, USA
Jan 27, 2017
Guest

Keep searching - I am!

I am extremely disappointed with FXCM. Although there are many useful tools to use for setups, their overall performance is bulky, awkward and cumbersome. Additionally the platform is very slow and platform documentation is poor and incomplete. If this is all that US has to offer its forex traders...there is plenty of room for improvement here.

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