FXCM UK ....TERMINATING MY ACCOUNT

[nhoville]

THESES BASTARD TERMINATED MY ACCOUNT THIS WEEK no explaination but I was winning for the last 4 months. I suspect they own the liquid provider and that is why they get rid of some profitable traders.

 

[JCDenton]

Well, any private company can indeed choose who to do business with... On the other hand, why not choose an ECN broker to avoid such hassle?

 

[andresburgoss]

FXCM UK is terminating their relationship with no explaination given even with being asked by Emails 3 times.

I have lost tons of $ with them over the last 7 years...I was finally making some back......and now they termonate me. THE SAME WAY your FPA FXCM talk they talk...."CANNOT SAY WHY " lol........

OBVIOUSLY BECAUSE WINNING...

I am very upset! I adore FXCM their client service and excellent platform.
After being a faithful client for over 7 years....and losing tons of money with them.: I finaly figured out how to win all the times for the last 5 months.....My hope was so high to get all my money back and more!

Then two days ago I get terminated ....giving me 5 days to close all me trades. Fortunnatly thanks to Muriel ( I think I fell in love with her ...too) she manage to ask them to review my new request at least give me time to close my GBP"jJpy in profit please. !

So I sent one more letter warning them that I intent on opening a class action suit against them and gathering ex clients and letting them know it would cost them a lot less to keep me than to "divorce" me.

If anyone had the same experience as me please contact me asap at nhoville@aol.com. We have to report this ....I don't mind being told we don't like clients who trade 24 hours a day ....or make too many small profits....

I cannot tolerate discrimination.

Nader

Hi nhoville!

I feel exactly the same as you!

I have been losing a lot of money with FXCM for more than a year and when I started making results they terminate the relationship and restricted me without explanation.

Is your restriction still active? or did you find a solution for the problem?
I will apreciate if you tell me how you handled it.

 

[Kerobokan]

If your relationship was with FXCM UK then get in touch with the FCA (Financial Conduct Authority) and they will deal with your problem plus raise a dispute with FXCM.Remember that the contact that you have with FXCM is to keep your positions open in the market,if they do not do that then they are clearly in breach of contract,plus committing gross misconduct and fraud!

 

[Kerobokan]

Hi Nhoville,

Please note FXCM doesn't close accounts for being profitable. I don't know the specifics regarding your account, but if your strategy is effective, you can move funds to another FX broker and continue trading in the market profitably. However, if closing your account with FXCM means you will realize losses, this means your open trades are floating losses. Equity is the cash value of an account, so if you are floating losses, then your equity is lower than your balance, and this means the account is at a loss and not a profit.

It is of no relevance whether there is a floating profit or a floating loss,as one thing that is an indisputable 100% fact is that any market will,at some point,reverse and give back any losses.The broker/client relationship and contract is to keep any and all positions open while that happens and as such breaking that contract is gross misconduct and fraud on the part of the broker.
It is cut and dried,no exceptions.

 

[oscarra]

as one thing that is an indisputable 100% fact is that any market will,at some point,reverse and give back any losses.

Your thinking may certainly be applicable for a standard stock trading account, with zero leverage !
Nothing wrong by trading stock’s, best training and no one can rob you