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Overall Rating: (2.385)
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Total Reviews: 529
Last Updated: 2015-07-06

FXCM is a forex broker. FXCM offers the MetaTrader4, Active Trader, Mirror Trader, Ninja Trader, and Zulu Trade top forex trading platforms. offers over 50 currency pairs for your personal investment and trading options.

Special Notes:


IBs for FXCM include

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: fined by the FCA. Click here to read about it in the FPA's forums, along with FXCM's response.

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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 If you've traded forex with this broker, please leave a review here.

Andrew Schellhammer , Dallas, Tx, USA

Rating: No Rating
Date of Post:2015-06-28
Review: FXCM stop loss hunts even when the market literally never hit that spot that they closed the trade at... often. I have irrefutable proof and would love to show the world my screen shots.
Comment: Added by Jason Rogers on 2015-07-27 05:02
  Hi Andrew,

FXCM does not "stop loss hunt" nor do we have any reason to on our No Dealing Desk (NDD) forex execution model. That's because we don't profit from your losses or lose from your profits. Instead, we offset each of your orders one-for-one with the best available prices from competing liquidity providers. Whether you win or lose on a trade, we make the make the same commission.

FXCM makes money from your trading volume, not your losses. Therefore, we want you to be profitable, so you can continue trading with us.

You mentioned that you have screen shots showing your stop loss price was never hit. However, it's possible you did not take into account the bid-ask spread when looking at the charts.

Note that while most charts show you bid price or sell price in the market, it's the ask price or buy price that will trigger your stop loss order, if you are in a short (sell) position. That means you have to take into account the fact that the ask price is higher than the bid price you see on your chart due to the bid-ask spread.

FXCM's Trading Station platform will let you view a chart of the ask price, if you click on the "Ask" button in your chart tool bar. If you still have questions about your trade after that, then I encourage you to file an inquiry with the Trade Services Team:

If there was any error in our Trade Execution, FXCM will make the appropriate correction to your account.

Teddy Singer, Dallas, Texas, USA

Date of Post:2015-06-26
Review: FXCM gets a lot of bad PR from amateur traders.
If you are a real trader/investor/whatever, you know that ALL brokers have a "B Book" where they CAN take the other side of your trades. Why not? It's a Capitalist thing to do.

FXCM has never "played with" anything, and has very reasonable spreads.

They have BY FAR the most regulated jurisdictions in the world for FX brokers and deposits/withdrawls are both handled extremely quickly.

I wish their spreads were a bit tighter, but the comfort of working with a professional / Top 3 broker in the world is needed for me.

And we're quickly down to >5 brokers to choose from (legally) in the U.S. now...


Sami Alrumaih , Saudi Arabia , Saudi Arabia

Date of Post:2015-06-23
Review: I would give FXCM five stars before 22-06-2015 because of their professionalism, excellent customer support, and very fast withdrawal execution.

Nevertheless, if you ask me today I will give them just one star. All of the good things I have mentioned earlier are not exist anymore.

They locked my accounts without telling me or inform me in advance. I sent them many emails to my account manger and no response shown from FXCM, also I sent to the admin and no response either.

Until one day I remember one guy he used to be my accounts manger I sent him an email; he advised me to send an email to compliance department and then I did and they responded to me.

I asked him why you did lock my accounts!! He said we do investigation some time.

My question is when you have to do investigation why you didn't at least inform your clients that they accounts are going to be locked and even when you need your money you can't withdraw them, so you should prepare yourselves. In my situation they locked my accounts over two weeks.

One of the compliance department responded to me telling we have the right to lock your account 8 weeks.

Let's say I agreed with you , should not I have the right to know what is going on?

Should not have to know at least when this is going to be end ?

They left it vague.

When this issue over I will leave this broker. If they are dealing with me like this. How can be assured that they will not do it again.

Finally , I hope the one who respond here in this from (Jason) to respond to my complaint.

Brit Foshee, West Palm Beach, USA

Date of Post:2015-06-18
Review: Waited 8 days for someone to tell me that they had a 235 pip slippage a minute and a half after some news release. I had side by side orders that were set to execute at same price. One executed fine, the other "slipped".

Larry Verot, Youngsville, LA, USA

Date of Post:2015-06-16
Review: I switched from another broker after their spreads kept widening and have been on FXCM's spread and commission model. Very happy so far. Took some getting used to factor in the spread but it's saved me money overall. Much lower cost of trading and better platform. Deposit and withdrawals were fast for debit card deposit. Have not tried a bank wire yet.

Only thing missing for me is push notifications on the mobile app. There's an alert system on the downloaded platform but that means the platform always has to be running for me to get the notification.

Genesis, , Philippines

Date of Post:2015-06-10
Review: Yesterday ive got pending orders setup for GBPNZD Buy @ 2.1650 Today i woke up, just after the RBNZ interest rate cut and found that my pendings wasnt executed properly, it teleported around 2.1941!

Not much of a big issue, other orders are fine NZDUSD executed fine. But i think il be changing broker...Goodbye FXCM =/

Tambu Williams, London, United Kingdom

Date of Post:2015-05-26
Review: Hello Ben Rogers

It is with great interest that I read your response to a review where someone is complaining about re-quotes. This morning alone I had 3 re-quotes! This has never happened before, which is one of the reason I have my accounts with FXCM. However, performance has been slipping in the last couple of months. I find that some of my trades freeze and I can't do anything about them. The first time it happened I did not worry too much about it. But today I have had two frozen positions and requotes!!

So what is happening FXCM?

CNPFX, San Jose, Costa Rica

Date of Post:2015-05-05
Review: Recently I received quite a few emails from FXCM stating that they had a new account similar to a micro account. Since I had stopped using FXCM as I found their service to be terrible and many promises which they never made good on, I thought I would give them another chance. I used their online chat to recover my account details as I have long forgotten them. When I asked the rep about the new account type I was told that she had no idea as to what I was talking about. She went on to state that FXCM did not offer such an account. It goes to show you that FXCM is out to lunch. How can a company rep not know of such things and at the same time not even offer to double check. This just goes to show me as well as the rest of the world that FXCM is and will continue to be a joke.

There are better brokers out there who actually have their people up to par as to what is going on. How can you trust a lazy company with your money?
Comment: Added by Jason Rogers on 2015-05-12 12:36

First, I want to apologize for the confusion my colleague on chat had regarding your question about "a new account similar to a micro account". I think she may have been confused, because all FXCM accounts allow you to trade micro lots and risk as little as 10 cents per pip, even Active Trader accounts.

From what you have described, I believe you are referring to our new DD option which is now available to traders in certain countries. FXCM's new risk management policy requires the reduction of leverage on all accounts on our No Dealing Desk (NDD) forex execution to a maximum of 100:1. However, in response to demand for more leverage from some traders, we have decided to introduce a new DD option for accounts with a balance less than $10,000. That way traders can get access to higher leverage up to 400:1 to magnify gains and losses.

If you would like to learn more about this account type, I hope you will give my colleagues in our 24/7 live support team another opportunity to help you. FXCM strives to provide you with the best customer service, and we take pride in the many industry awards we have received for this:

It's a key reason why our client base has grown to 222,279 tradable retail accounts as of the latest publicly-available data:

Terry Card, Essex, United Kingdom

Date of Post:2015-04-08
Review: I have been with FXCM for over ten years and have often defended them when I have seen poor reviews, but in the last months they have behaved really poorly. I had to write to them FOUR times over a period of 4 weeks to get a response about a trade audit. Then this evening the trading station froze and my trade was taken out when their own charts show it was nowhere near my stop. This freezing of charts happens most nights at 10pm and I have to wonder is this their way of trying to recuperate the 250 million they lost recently. I really could not recommend them as they have been so poor recently.
Comment: Added by Jason Rogers on 2015-04-23 11:57
  Hi Terry,

First, I want to thank you for being a client of FXCM for over ten years. I trust over these many years, you have been pleased with our service. I am confident that if you give us an opportunity, we can also address your recent grievances.

For example, you mentioned that you experienced freezing on your charts most nights around 10pm. That would run contrary to your suggestion that this was something deliberate on our part to cause you to lose money. Otherwise, why would it occur at the same time everyday?

This is why I hope you give us the opportunity to investigate this issue further for you. For starters, it's worth noting that 10pm UK time corresponds with 5pm New York time when trade rollover occurs. It's possible this is somehow related, but we'd need more details to be sure. Please contact our 24/7 live support, so we can help you.

Also, consider that on our No Dealing Desk (NDD) forex execution we offset each of your orders one-for-one with the best prices from competing liquidity providers. That means, we do not profit from your losses, or lose from your profits. Instead, we simply make money from your trading volume. Therefore, we want you to be profitable, so you can continue trading with us.

Lastly, I would like to address your comment about recuperating 250 million. Since we are a publicly-traded company (NYSE ticker: FXCM) the details of our finances including the loan from Leucadia are well known. In fact, in our most recent quarterly earnings presentation, we clearly outlined how we plan to repay this debt:

Over the past few years, FXCM has spent over $250 million dollars making strategic acquisitions building up our non-core businesses, mainly the institutional side as we tried to diversify the firm. We are now looking to sell some of those non-core assets; But, we are not in a rush and are looking to get the highest valuations for these assets. We are considering closing or selling smaller regulated entities that require large sums of capital requirements, but that offer increasingly low return on capital. In fact, just recently we announced this news:

The latter move allows us to free up significant amounts of cash that is currently trapped. We believe that in the near term we can pay down a majority of the loan. That's our goal. We have now repaid $66 million under the credit agreement, and as of April 1, 2015, the outstanding Leucadia loan balance is $244 million.

FXCM is pleased with how our debt reduction plan is proceeding. We are ahead of plan and the results of the FXCM Japan sale exceeded our expectations. With all the increased attention to our other properties, we are expecting robust and competitive auctions for the other non-core assets we have targeted to sell. We anticipate making an additional repayment of approximately $12 million towards the credit facility in the coming weeks.

By contrast, most other forex brokers are privately-held companies, so it's hard to know how much debt they have on their books or the state of their finances. Despite the events of January 15th that resulted from the Swiss Franc movements, FXCM today remains in a strong competitive position:

* $303 million in consolidated operating cash
* $1.0 billion in customer equity
* 195,000 active retail FX accounts
* Global regulatory capital of $252 million versus $93 million minimum requirements (an excess of $159 million)

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