FXCM is a scam. They are cheating a lot of traders. They need to be closed to protect order traders.

[ngocduy1010]

Before I used to confront such this case with another Broker and I did successfully got the claim. There was a problem with that broker system when price had high fluctuation.

 

[ngocduy1010]

FXCM supporters said to me waiting for their investigation. However, I have been waiting for many days. They maybe don't want to solve my problem.

 

[FxMaster]

@Jason Rogers, need your attention here.

 

[ngocduy1010]

@Jason Rogers, need your attention here.

They don't want to solve my case. It is very small money with me but I need their answer.

 

[FPA Forums Team]

The FPA invited the Company to update this discussion on Jul 9, 2020 at 3:16 PM

 

[Luighi]

My account number at FXCM is 78061197. Via this email, I request FXCM Dealing Desk team to return my money. FXCM is a scam when my orders were cut at wrong stop-loss price.

I have 4 sell orders US30 at about 26222 (attached image). I have one stop loss order at 26285.07, one stop loss order at 26285.74, and two stop loss orders at 26285.76.

At 12:31, the highest bid price at 26281.91 and the highest ask price at 26283.76 did not reach to any of my stop loss orders. However, FXCM cut WRONG all of my above four orders. After that, the price of US30 dropped immediately to 25,880. In principal, all sell orders can be cut only when the highest ask price is equal or higher than the stop-loss price. Because of FXCM WRONG, I lost of my money instead of I gained about 3,000 USD. I strongly request FXCM to pay back my money.

View attachment 54881

Hi ngocduy1010
Yesterday I have some similar trade on FXCM than You!
I will put my trade picture. This problem about spread. Use this spread indicator: mql5.com/en/code/12482?utm_campaign=codebase.list&utm_medium=special&utm_source=mt4terminal&fbclid=IwAR1-PwWhTISSQQK3l2GocmIABBZ3tbh6c7bBLT5MB6ED5XxVjL2Q_OfvvlQ
I hope tis indicator helping for You to understanding why stopping Your (and mine yesterday too) there.
Regards
Lajos

They don't want to solve my case. It is very small money with me but I need their answer.

Or use this link to FXCM if think so: https://www.fxcm.com/uk/forms/trade-inquiry/

 

[ngocduy1010]

Hi ngocduy1010
Yesterday I have some similar trade on FXCM than You!
I will put my trade picture. This problem about spread. Use this spread indicator: mql5.com/en/code/12482?utm_campaign=codebase.list&utm_medium=special&utm_source=mt4terminal&fbclid=IwAR1-PwWhTISSQQK3l2GocmIABBZ3tbh6c7bBLT5MB6ED5XxVjL2Q_OfvvlQ
I hope tis indicator helping for You to understanding why stopping Your (and mine yesterday too) there.
Regards
Lajos


Or use this link to FXCM if think so: https://www.fxcm.com/uk/forms/trade-inquiry/

Hi Luighi,
I tried to send a lot of that forms to FXCM, however, they answered nothing. You can find that in this case is not just about the spread. As I showed, It was a trick and a scam of dealing desk's FXCM. The traders win, they lost and they win, the traders lost. That is reason why the dealing desk's FXCM can cut the traders' order if they want by setting up very sudden high spread. It made they won in my case. So I want to warn other traders. FXCM is a scam broker.

 

[billybob1234]

My account equity balance was positive enough not to get margin out at that time. In case, my account balance was not enough, my orders would be closed one by one, not simultaneously and not the same price.
Below is FXCM feedback for my inquiry. The answer is just about bid - ask price, which I've known already. In principal, all sell orders can be cut only when the ask price is equal or higher than the stop-loss price. So, I don't know why they cut all of my sell orders at 26,283.76 (it is smaller than my stop orders).

View attachment 54992

I traded with FXCM for several years and lost several thousands. My understanding is that most FX brokers, including FXCM, can flatten your account simply because it is NOT against the law, even for regulated brokers, to set the trade price at whatever the broker's account equity/liquidity provider can supply. As well, with Oanda (for example) recently publishing a new Account Agreement stating as a FACT that their platform is a GAME, you have to understand that nothing you see on an FX broker's screen "has" to represent ANYTHING and that liquidity providers DECIDE the "price action."

I have traded with probably 6 - 10 brokers now and i do not recommend any of them; it is extremely difficult to profit consistently when all brokers use gaming algorithms and artificial intelligence (and have done so for probably more than 20 years) to inflict losses against dumb f*** "traders."

 

[oscarra]

I have traded with probably 6 - 10 brokers now and i do not recommend any of them; it is extremely difficult to profit consistently when all brokers use gaming algorithms and artificial intelligence (and have done so for probably more than 20 years) to inflict losses against dumb f*** "traders."

The good thing for FXCM, with all their massive history…no need to spend money on advertising

FXCM, under Niv’s and Ahdout’s direction and control, misrepresented to its retail forex customers that when they traded forex on FXCM’s No Dealing Desk platform, FXCM would have no conflict of interest, the Order finds. In addition, according to FXCM’s marketing campaign, retail customers’ profits or losses would have no impact on FXCM’s bottom line, because FXCM’s role in the customers’ trades was merely that of a credit intermediary, the Order finds. FXCM further represented that the risk would be borne by banks and other independent “market makers” that provided liquidity to the platform, according to the Order.

……..etc

CFTC Orders Forex Capital Markets, LLC (FXCM), Its Parent Company, FXCM Holdings, LLC and FXCM’s Founding Partners, Dror Niv and William Ahdout, to Pay a $7 Million Penalty for FXCM’s Defrauding of Retail Forex Customers | CFTC

www.cftc.gov

 

[sigitpambudi144]

I traded with FXCM for several years and lost several thousands. My understanding is that most FX brokers, including FXCM, can flatten your account simply because it is NOT against the law, even for regulated brokers, to set the trade price at whatever the broker's account equity/liquidity provider can supply. As well, with Oanda (for example) recently publishing a new Account Agreement stating as a FACT that their platform is a GAME, you have to understand that nothing you see on an FX broker's screen "has" to represent ANYTHING and that liquidity providers DECIDE the "price action."

I have traded with probably 6 - 10 brokers now and i do not recommend any of them; it is extremely difficult to profit consistently when all brokers use gaming algorithms and artificial intelligence (and have done so for probably more than 20 years) to inflict losses against dumb f*** "traders."

So according to you its impossible to make profit when brokers use GAME algorithm ?