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FxCBS

Discussion in 'Forex Brokers' started by AsstModerator, Jul 7, 2009.

  1. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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  2. awsl

    awsl Private, 1st Class

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    does anyone know the minimum to setup an account with FXCMS?
    tks
     
  3. Chip4Pips

    Chip4Pips Recruit

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    Current minimum is $1000. Bank wire is easiest method of funding. Credit cards go through Moneybookers.
     
  4. portugaleren

    portugaleren Private

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    FXCBS live account

    It could be nice if Rodders, UK could share with us how it is going with live account with FXCBS since he did his last review about them.
     
  5. Conrod

    Conrod Recruit

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    whenever you have more news or infos about this Co. I like to be notify.
    if it is possible. ?
    T. You
    conrod
     
  6. Chip4Pips

    Chip4Pips Recruit

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    Swaps

    I forgot to mention that swaps at FXCBS are HUGE compared to other brokers. It seems that they have adopted the MB Trading model and are charging high swaps on both sides of each currency pair. MAJOR, MAJOR drawback if you are going to potentially carry any positions through the rollover period.
     
  7. zulemara

    zulemara Recruit

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    Their contact information is inaccurate and their finance dept does not answer emails. Their execution times are bad and have caused my EAs to miss trades on several occasions.

    Their swaps are also very high. If you're planning on running FT through rollover, forget about it unless you are trading a large lot size and can make up the swap. I had nearly a 5 dollar swap on .1 lots on FT one day.

    edit: just tried to email their complaints department about my dispute regarding my deposit with them and the email bounced!

    Google tried to deliver your message, but it was rejected by the recipient domain. We recommend contacting the other email provider for further information about the cause of this error. The error that the other server returned was: 550 550 sorry, mail to that recipient is not accepted (#5.7.1) (state 14).
     
    #7 zulemara, Sep 14, 2009
    Last edited: Sep 14, 2009
  8. zulemara

    zulemara Recruit

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    This is an update on my review and situation.

    I posted on the 14th that I was waiting for my wire to post and getting the run around from support. I got FPA involved and started emailing every email they have, letting them know I am getting FPA involved and plastering everything all over the net. The next day, about 2pm they posted my wire to my account. So that was a relief.

    I had submitted a withdraw request for my extra balance on the 12th, then another one for the deposit I was waiting on when it credited on Tuesday, and then sent one request for the whole balance on Wednesday. I did this to test their response times with withdraws and to request account cancellation. Support again tells me they process everything within 24 hours. I told them I had a withdraw request from the previous weekend that hasn't been processed. Support gave me a different number to call and let them know. So I called the number, which was a US number so I didn't have to dial international.

    A guy answered and I explained about my withdraw request and that I want it as soon as possible. He was very nice and apologize for the delay. He asked me why I was wanting to close my account, so I gave him my situation in a nutshell. He asked if I had a minute to discuss it and I said no, my mind is made up on this. He said he was not trying to get me to keep my account, but wanted to clear the air. This is what he told me:

    He said the reason the wire took so long is because their bank they were using in Cypress was not putting the reference numbers on the wire. I don't know why, but they said they are closing that account and using a new bank in Dubai.

    I said all I wanted was an EMAIL from somebody or information from somebody about what was going on. This whole thing got blown up because nobody COMMUNICATED. He again apologized and told me they were moving support from Chicago to Dubai and that was the reason for the delay. He also told me that this coming Monday will be the relaunch of the website and company with the new bank, new phone info, and everything moved over to Dubai.

    It is clear he wanted to clear the air because, as any company knows, one bad customer experience will spread to thousands very easily especially when we're dealing with a product that is largely based on the internet.
     
  9. Stony

    Stony Sergeant

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    zulemara,

    sorry, I would not accept any of the excuses you mentioned. When a broker is unable to keep up reasonable communications and bank transactions during a move of his offices, and does not even inform his customers about possible delays, he has proven his unability to conduct his business in a professional manner. Stay away!

    Regards, Stony
     
    #9 Stony, Sep 19, 2009
    Last edited: Sep 19, 2009
  10. ThiagoForex

    ThiagoForex Recruit

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    ThiagoForex, FXCBS is a SCAM BROKER!!!

    Im request withdrawn from my Account 20000 Thiago, My withdrawn delayed more than 30 days now!!!,:eek:oh: ........ I request one solution URGENT !:unhappy:
     
: fxcbs

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