to answer your 1st question, it's hard to say. it's pretty much a trial & error process. start with small amounts, i.e. 10K USD, and brokers such as MBTrading, Dukascopy, PFGBest, FinFx, Pepperstone, seem to behave properly. However, as soon as your account size increases to more than 100K, you may start seeing slow fills, slippage and so on... which might have more to do with the amount of lots you trade per trade and thus lack of liquidity to fill your order, not necessarily due to nefarious broker behavior. size does matter and beyond a certain size, a prime broker is the way to go, not a retail broker.where did u go to get a fairer shake?...looking for new broker since leaving fxcm..
Also..for clients of fxcm..did they automatically apply credit..or did you have to contact someone..
I just ckd my acct..and its still at same level..
Thanx for info..they said I am not due refund..I have no idea whether they are telling the truth or not..not gonna linger on it..lesson learned..and closed account...life goes on...FXCM sent a notice by email (to email on file with account when it was active to "all US clients affected" and has sense credited 4 accounts (they were previously closed accounts) that I had with them. 4 fairly small accounts and the credits were to the tune of $8K.
I hope now that all FXCM clients close their account with your company.Hi thesaint226,
The settlement between FXCM and the CFTC was anticipated and previously disclosed on August 11, 2011, during FXCM’s Second Quarter Earnings Conference Call. At that time, the company established a reserve of $16 million in anticipation of the fines associated with the CFTC ($6 million) and the NFA ($2 million) settlements as well as restitution ($8,261,937) credited to affected clients. To date, the NFA fine has been paid and restitution to affected clients has been credited. The NFA and CFTC fines as well as restitution are all covered under that reserve, resulting in no negative impact to the net income of FXCM Inc.
Our full statement can be found here FXCM US Reaches Settlement with the CFTC for $6 Million
EVERYBODY !!! WHY DOES THE CFTC AND THE NFA TAKE THE MONEY AND WE (THE PEOPLE WHO HAVE BEEN SCREWED BY FXCM SEVERAL TIMES) GET NOTHING !!!
WE NEED TO BE RE-IMBURSED - NOT THE CFTC...and NFA...
CAN ANYBODY EXPLAIN THAT TO ME ???
Hi Pharaoh,This is the second time that US clients will be compensated...
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