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Fxcm.com Review MT4 - MetaTrader Platform

Overall Rating: (2.391)
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Total Reviews: 557
Last Updated: 2016-06-27
Description:

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.

Special Notes:

 

IBs for FXCM include TheCurrencyCafe.com

October 3rd, 2011:  FXCM fined by the CFTC. Click here to read about it in the FPA's forums, along with FXCM's response.

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.

Click here to join live discussion of Fxcm.com on our forum
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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2006-02-11
Review: We haven't tried a forex trading account with FXCM.com. If you've traded forex with this broker, please leave a review here.

Lebohang Molise, Bloemfontein, South Africa

Rating: No Rating
Date of Post:2016-06-24
Review: 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!

Tim H., Ottawa, Canada

Rating:
Date of Post:2016-06-24
Review: 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.

numan hussain, gujranwala, Pakistan

Rating:
Date of Post:2016-06-21
Review: there live chat is very bad they dont want to help you they even did not reply i want to open ECN account with them i tried many time to chat with them i want yo ask same question before open live account but no one answer my question there service is very bad please dont open account with them
 
Comment: Added by Jason Rogers on 2016-06-23 08:59
  Hi Numan,

There seems to be some confusion. Our records show my colleague Daniel emailed you a copy of the account opening instructions you requested earlier this week. If you did not receive his email, please check your junk mail folder and make sure our @fxcm.com domain is added to your list of safe senders.

Daniel will try to give you another follow up call. Please come back on live chat if you need to update the email address or phone number we have on file for you.


- Jason Rogers
FXCM Ambassador

nader hoville, USA and, France

Rating:
Date of Post:2016-06-18
Review: also in HAWAII. I AM VERY UPSET. I THOUGHT THEY WERE THE GREATEST BROKER
EVER.....until I got a TERMINATION LETTER! I have been with them as a loser for over 7 years. Recently I was winning finally hoping to get it all back. They refuse to tell me why. It could only be two reasons : either they dont like people like me scalping at all times of days or they dont like me profiting from it. I read some others here who also got terminated. They claim that they would not terminate because we made profit....cause "non dealing desk" well what if thjey earn more with client that loose? ...It make no sense at all .
PLEASE CONTACT ME I AM GOING TO ORGANIZE A CLASS ACTION SUIT AGAINTS THEM...if they terminated for not good reason please contact me ASAP nhoville@aol.com
HOWEVER I want to say the good things...EVERYTHING ELSE IS GREAT WITH THEM....they pay fast., client service is the best and platform I adore.
 
Rebuttal: Added by Jason Rogers on 2016-06-23 03:50
  Hi Nader,

Please note FXCM doesn't close accounts for being profitable. I don't know the specifics regarding your account, but if your strategy is effective, you can move funds to another FX broker and continue trading in the market profitably. However, if closing your account with FXCM means you will realize losses, this means your open trades are floating losses. Equity is the cash value of an account, so if you are floating losses, then your equity is lower than your balance, and this means the account is at a loss and not a profit.


- Jason Rogers
FXCM Ambassador

victor, west sussex, United Kingdom

Rating:
Date of Post:2016-05-26
Review: Since I joined FXCM I had no problems excellent service. Any time I request withdrawal it was in my bank account within 3 days. Well done guys.
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Empirical Perspective, US, USA

Rating:
Date of Post:2016-05-26
Review: The only thing misleading about FOREX trading is the success rate. Its very low. People write about it being a scam or how FXCMs customers are being ripped off, but their not aware of how the game works. I chart with an independent brokerage and their pricing is within 3 ticks of FXCMs.

Shiv M, Perth, Australia

Rating:
Date of Post:2016-05-10
Review: +Jason.

Sorry..Got it cleared. It was a confusion about my residence. Thanks to Murielle and Mark of FXCM's support that helped. Still angry with Compliance/Ops for the misunderstanding. Murielle esp. deserves a reward. She was very patient, and owned the problem as if it were hers. It is because of people like Murielle and Mark that FXCM continues to thrive!

2016-05-03 1Star
Have no complaints about FXCM Australia. They are pretty good. It is FXCM USA, esp. operations people who are people without sense. CIting stupid excuses from compliance,they can "lock" your account when you are winning. I hope FXCM has some sensible people in their compliance team.

Added by Jason Rogers on 2016-05-06
Hi Shiv,

First, I'm glad you're pleased with your trading account with FXCM Australia. It's worth noting the only difference between an FXCM Australia account, an FXCM UK account and an FXCM US account is the local regulator.

While FXCM Australia is regulated by the Australian Securities and Investments Commission (ASIC), your trade execution and our staff providing your with supportare the same as for FXCM US and FXCM UK accounts.

There seems to be a misunderstanding about why your trading account was locked. I don't know your details beyond what you have posted here, but in my experience, accounts are typically locked from trading due to missing information.

I encourage you to reach out to our Operations team by emailing admin@fxcm.com for clarification on why your account was locked so you can resume trading.


Kind regards,
Jason Rogers
FXCM Ambassador to Online Communities
 
Comment: Added by Jason Rogers on 2016-05-13 09:15
  Thanks for the update, Shiv!

I'm glad Murielle and Mark were able to help you. I will share your feedback with them and the rest of our customer support team.

Obediah, KINGSTON, Jamaica

Rating:
Date of Post:2016-04-27
Review: I agree with Ryan in Maryland. It's a grown ups game FXCM conduct themselves well. Over the past decade I have nothing bad to say about them and much that is good. Like any organisation they will have had their share of staff problems. So you lose a few pips Boo Hoo. Although it's never said the real problem is that traders are trying to do something which in the longer term is very difficult blaming others for their failure. Don't tell anyone but one time a few years ago (not FXCM) I accidentally left a stop order in place after the trade was finished. Taking me into a short trade in access 3 K in profit. Did I ring the broker and tell them it was an accident take your money back what do you think? It takes years to learn and even then (certainly in my case) it's still a challenge. retiring@live.co.uk

Carlos, Madrid, Spain

Rating:
Date of Post:2016-04-25
Review: In a trading event, FXCM gave away 250 $ founded accounts. I've made a sustancial gain out of one this accounts, when I wanted to withdraw the money, they told me that account was a demo one. This is a scam, do not trade with them.
 
Rebuttal: Added by Jason Rogers on 2016-05-02 11:35
  Hi Carlos,

Unfortunately, you have us confused with a different broker. FXCM has never given away free $250 accounts like you describe.

FXCM has a trading contest for Mini accounts. Our clients fund these accounts themselves with their own money. You can open a Mini account with as little as $50. The contest restarts each month with a $10,000 prize pool: https://www.fxcm.com/uk/advantages/mini-account/trading-contest/?CMP=SFS-70160000000MusRAAS
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