FXCM.COM Will Steal Yuor Money Do NOT FALL INTO THEIR PREY.

[Jason Rogers]

Many trading years experiance myself and I too once traded with FXCM.It's not that I didn't still take out a profit,but it's the way they were able to steal back some of the earnings. And YES they DO target individual accounts.They used to do a weekly reveiw to determine who was making "to much"--"to fast".But I didn't know that at the time. But if you start a 5 K acct and double it in a week-then you just better expect many sudden and extreme platform failures that are unexplainable. Like locking your platform down for 6MINUTES while your settin on 3k profit after being slipped 40 pips on the entry.I mean you can't do nothin! But mysteriously--the very second your order moves to just 1 pip negative (market order suddenly lights up) and NOW you can close the trade.But during the 6 minutes("instant execution platform) you were in profit, that market order just sets in a pending orders box all grey colored and un-clickable. When I contacted them;one of the many excuses they gave me was that I must not know how to "click" my mouse properly!!! I mean OMG!!! Really?!?!?!? So I withdrew the the whole acct including the 3k profit I still had left from the weeks trading.
They don't need to do reveiws any more cause they have that plugin running that helps protect against profitable traders.
TRADER BEWARE OF FXCM!!! If you make a lot of profit fast they WILL attempt to steal it back. I've just been there done that is all I'm sayin.
Thanks guys.

Hi Dispicable

FXCM uses NDD forex execution, therefore your trading profit is not FXCM’s loss, and your trading loss is not FXCM’s profit. Every forex order is executed back to back with one of multiple liquidity providers, and FXCM is compensated by a pip mark-up added to the spread. The pip mark-up essentially acts as a commission. The more volume going through our system, the more pip mark up commissions being paid. The trading frequency or profitability of a trader has no impact on how orders are executed. In fact from our point of view, profitable traders are more likely to trade more frequently and in higher volumes. That’s why we have the active trader setup available to lower the overall transaction cost for high volume traders.

This video will give you more detailed step by step explanation of how NDD forex execution works

In regards, to “platform failures”, ernest tested our platform in 2010 (after this thread was created in 2009) and you can find his experience here https://www.forexpeacearmy.com/forex-forum/forex-brokers/1125-fxcm-com-4.html#post29307. I know that no system is perfect and technical issues can occur. We keep detailed records on order execution to investigate any problems a trader is encountering. If there’s a technical issue on our side, we will do our best to make sure any losses as a result of the technical issue are taken care of. If you would like to test our execution in a live account, we’re giving away free $50 accounts as a part of the CNBC Million Dollar Portfolio Challenge contest http://www.forexmicrolot.com/lp-free-micro-account-cnbc-ja.jsp.

 

[athenafx]

Hi Pharaoh,

There are many ways to provide addtional guarantees.

The main problem is that only large accounts can benefitiate from this right now.

For example, instead of making a 10 usdm deposit on a broker's account, you can use an intermediary bank.

The intermediary bank receives the money then the broker opens an account for the same amount.

At the end of each day, the intermediary bank proceeds to the clearing of operations. I mean that your losses are tranferred to the broker's account open in the same bank and your profits are transferred from the broker's account to your account.

Your funds are always safe even if the broker goes to BK.

 

[cqinvest]

I am having issues with FXCM for well over a month now. An erroneous margin call was triggered (wiped out my entire account, with almost 200k) because of their spread widen 30 pips for no reason and I have put in numerous complains about this, with little to no help at all from their staff... some of the emails were actually rude emails that they send me. Anyway, a month later (Nov 2), I get an email from their compliance department with a release agreement form telling me to sign it so they can refund me the full amount that my account incurred. I signed and returned the form, I wait 2 business days for them to process before following up. I go to chat, followed up, send a few emails and wait patiently again.

On Nov 7, they send me a letter stating that my account has been terminated BEFORE processing the
refund that I was promised. I have sent them numerous emails (about 6-8), with no respond whatsoever. This is what the email says:

Dear Jasper Que,

This letter is to inform you that as of November 7, 2012 Forex Capital Markets (“FXCM”), will be terminating the Client Trading Agreement signed between FXCM and Jasper Que as well as any other agreement and any other title signed between said parties (collectively, the “Agreement”).

Pursuant to the Agreement, this termination shall be effective immediately.

If you have any queries or comments, please feel free to contact me.

Sincerely,

Zalman L. CAMS
Senior Compliance Associate
FXCM Compliance Department




I have tried to contact several of their departments, tried to reach out to various key people, and still nothing. They continuously keep ignoring my emails. Is this what you can expect from "the biggest fx
broker in the world" to just dodge and ignore emails when it is convenient for them? And not keep their word when they already send you in writing that they will refund your account 194k, make you sign a form then just forget about you?

 

[BigT1]

Warning Warning!
.
Hello cqinvest,
You are a brand new member registered only yesterday, and have revived a dead thread from August 2011 to post your undocumented complaint.
Please open a new thread and document your particular issue at hand.
If your complaint has any true merit it will stand on its own, without your needing to stand before an irrelevant backdrop.
.
Please discuss the events that led to your blowout.
Please provide us with your trading record, deleting your personal information.
Discuss exactly how and when the firm violated you.
.
If your positioned your account in such a way as it could have been blown out on a simple spread widening, not only were you likely overtrading; but, the details of that situation will have to be analysed in detail before we can determine who, if anyone, is at fault.
FXCM is fully regulated under the FSA UK, and the UK FOS is in place to handle your unfair trade practices complaint, whenever one is valid.
Show exactly how you were violated and we will support your effort to recovery, once it is clear that it is justified.
.
Just coming here to bad-mouth an otherwise respectable firm that has erred in the past, paid its fines, made restitution, and provides me and others with reliable and deep liquidity, is simply not appropriate.
You have received a formal determination from the FXCM Compliance Officer.
That locks their position with FOS, and is arbitrable, if valid.
We await your documentations in you own thread.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
.

 

[Jason Rogers]

I am having issues with FXCM for well over a month now. An erroneous margin call was triggered (wiped out my entire account, with almost 200k) because of their spread widen 30 pips for no reason and I have put in numerous complains about this, with little to no help at all from their staff... some of the emails were actually rude emails that they send me. Anyway, a month later (Nov 2), I get an email from their compliance department with a release agreement form telling me to sign it so they can refund me the full amount that my account incurred. I signed and returned the form, I wait 2 business days for them to process before following up. I go to chat, followed up, send a few emails and wait patiently again.

On Nov 7, they send me a letter stating that my account has been terminated BEFORE processing the
refund that I was promised. I have sent them numerous emails (about 6-8), with no respond whatsoever. This is what the email says:

Dear Jasper Que,

This letter is to inform you that as of November 7, 2012 Forex Capital Markets (“FXCM”), will be terminating the Client Trading Agreement signed between FXCM and Jasper Que as well as any other agreement and any other title signed between said parties (collectively, the “Agreement”).

Pursuant to the Agreement, this termination shall be effective immediately.

If you have any queries or comments, please feel free to contact me.

Sincerely,

Zalman L. CAMS
Senior Compliance Associate
FXCM Compliance Department




I have tried to contact several of their departments, tried to reach out to various key people, and still nothing. They continuously keep ignoring my emails. Is this what you can expect from "the biggest fx
broker in the world" to just dodge and ignore emails when it is convenient for them? And not keep their word when they already send you in writing that they will refund your account 194k, make you sign a form then just forget about you?

Hi Cqinvest,

I'm sorry to hear that we weren't able to come together on a resolution regarding your audit, and I can understand that you are not satisfied with the outcome of your audit. FXCM makes every good faith effort to resolve any trade inquiries amicably and fairly. If there is an error on our part, we will make the appropriate adjustments to the affected client's account.

However, I think most people here would agree that fabricating release forms and emails from our Compliance department does not exemplify good faith to come to a resolution. Our privacy policy does not allow me to discuss private client information publicly, so I will be unable to respond. Our team has already sent you the details regarding how to further contact our Compliance department and contest the Audit Committee's decision, if you choose to do so. As much as I would like to help, the decision process is out of my hands at this point.

Jason

 

[ada1976]

Been to many this one tops all.First take all the money, play with him,give him hope than give him the boot.
cqinvest,don't let this one off the hook at all times .i'll be looking foward to your own thread.

 

[BigT1]

Been to many this one tops all.First take all the money, play with him,give him hope than give him the boot.
cqinvest,don't let this one off the hook at all times .i'll be looking foward to your own thread.

Is it really fair to come to conclusions with no facts?
Let's wait to see if cqinvest can document a claim.
.
CQINVEST:
Open a new thread and provide us your evidence openly.
Once you do, it will release FXCM from privacy claims, then all can analyze your situation openly.
Remove your personal info first.
If you won't, we cannot accept your defamations.
.
FXCM Rep Jason Rogers:
Are you making the statement that the complainant has posted fraudulent misrepresentations of your communications with him?
If so, state that unequivocally and site the falsehoods.
If not, please redact your post, then answer the original complaint.
.
We await two replies.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
.

 

[ray_duenas1]

Fxcm.com Have Stolen My Money And Drainned My Account Of 18k. The Way They Do It By Freeze Your Order Sell Or Buy And Don't Let You Get Out Of Your Position When Market Is Against You. If You Try To Set The Sell Stop Or Buy Stop They Will Try To Spike The Price To Get Your Order Fill And You Are In The Losing Position. If You Set The Sell Stop Or Buy Stop And If The Market Move Strong In Your Direction And Pass Your Set Price They Will Not Fill It Right Away But Will Fill It When The Market Is Stable At The Lower Price Than Your Set Price So The Market Is Rebounding And You Are In The Losing Position Again. That Is The Static They Will Use From Time To Time To Drian Your Account, They Willl Let You Win At First And Then They Start To Apply That Static And Your Account Willbe Vanished. If You Call Them They Will Blame Your Connection That And That. I Have The 2 Computer One Run Demo And One Run Live Account, One Use Demo With The Other Broker Is No Problem. That Is How They Try To Steal Your Money.
****this Is My First Post, I Post This To Warn Other Not To Be Their Prey And Losing Their Hard Earned Money. Stay Away From Them Especially Their Mt4 Platform. They Are Scam And Malicious!!!

I too had the exact problems with FXCM around the same time I was trading. Live account of 2500.00, lost it in 2 months time. Never again with them.

 

[BigT1]

I too had the exact problems with FXCM around the same time I was trading. Live account of 2500.00, lost it in 2 months time. Never again with them.

Hello Ray,
.
Please open your own thread instead of complicating this one.
Try to post your MT4 Detailed Statement, to document your claims so we all can analyze. Strip your name & acct# first.
I you have trouble uploading certain file types, place them in a zip file first then up load the zip.
There are serious differences between Live and Demo account trading that are legitimate, and will never produce identical results.
We look forward to helping you work through your issue.
.
I noticed on your profile page that you are having difficulty posting information.
Open your thread and we will guide you through posting if necessary.
First place your info into a Word or PDF document, then go to "Go Advanced" button on lower right corner of the "Quick Reply" window.
Scroll down to "Manage Attachments", click "Add Attachments", browse to the file you wish to post on your disk, upload, done.
.
AI

 

[BigT1]

Of interest is FXCM's efforts to press for reforms with the CFTC, new post in the Articles Thread posted recently:
https://www.forexpeacearmy.com/fore...5-pfg-best-making-trader-money-disappear.html
.
AI