bgcfx.com Review

Only a fair rating actually. I made money with them, and had excellent execution. Got an account through ATC Brokers (prior reviewer is wrong-you CAN open an account if you're US based, but have to go through an IB like ATC).

Then one day, with no notice whatsoever, they disabled all the accounts introduced by ATC. I was actually right in the middle of a trade and couldn't close. I called them, and they did it over the phone, but WTF!!

Apparently there was some issue with their compliance dept saying the ATC paperwork wasn't right or something. Ok, no problem, but give me some freaking notice ok? Like a week, a day, even an hour. But no; there was zero notice. All of a sudden I just can't trade anymore. And this happend the day before NFP-idiots.

ATC worked very hard to solve the problem, but I decided to close my account anyway. Well, BGC sure took their sweet time sending me the money, but I finally got it. A big hint to any brokers reading this: withdrawing money should be the EASIEST thing a client ever does. NOTHING will erode a clients' confidence in a broker faster than them having trouble withdrawing their money.

Anyway, good execution there while it worked, but the above incidents were simply unacceptable to me.

these guys dont take US business anymore so I moved my account to PFG Forex. I hadnt even heard of them before but after some research I found thay they haven been around for over 20 years and they are a major player in the institutional forex world. i was able to open an acct for 30k and i am only being charged 30 per mil. i havenet been happier. i trade the news and get amazing fills. if you would like to know my contacts details please let me know. i have been able to reach him 24 hours a day and on weekends.

Review Moderation Team Note: 5 Star rating removed. This review came from inside PFG Best's offices.

The Currenex platform they use is easy and reliable. I always get great fills and the spreads are the best I've been able to find.
On the down side the margin is only 50:1, and their Currenex platform only tracks your trades until around 2:00 PM PST then drops them from the system. You must then look at the BGC back office software to see your positions. The problem with this is that the back office software isn't always accurate (some trades don't get updated for hours while others update immediately).
A second problem, for a swing or position trader like myself, is when you reverse a position that you made a previous day, exiting the position counts against your margin effectively only leaving you with a 25:1 usable margin.

These guys are OK except they run their own trading desk which shows when it gets busy or volitile....SlIPPED TRADES.....I stopped trading with them for this reason - Filled at the same time with another London broker at the right price and got slipped twice in a row with them...... NOW THAT SEEMS UNTRUSTWORTHY !

Most professional outfit in London. BGC employ traders with market experience and not order takers who don't know a bid from an offer. They have several software solutions to support clients' trading, notably the Currenex platform which carries massive liquidity. I have been trading London for over 10 years and been around most of the brokers in that time. It's imprortant to remember that FX trading isn't a faceless business and will be a more profitable experience when you work with a broker that works with you.