robinsont6956
Recruit
- Messages
- 3
I hope this is the correct procedure to file a complaint.
I'm currently with Forex.com UK and doing very well and experiencing no issues. But I wanted to compare spreads between Forex.com and FXCM UK by capturing the spread in a text file and comparing the two brokers minute by minute.
In doing this, I transfered $2k from Forex.com to FXCM. No issues in setup up the account with FXCM and found that when I went live, my EA wouldn't work with 5 digits FXCM uses to trade at the .01 level.
I contact the EA vendor which confirmed that the EA doesn't work with 5 digits and that he is working the issue but will not be fixed in a timeframe that would allow me to leave $2k in an account doing nothing.
I then decided to close my account with FXCM and send the money back to Forex.com. I found that FXCM would only send the money back to my bank account on file instead of the origination; but then I heard from FXCM and they indicated they could just bounce back the money to the originator (Forex.com). I of course said yes, please do! This turned out to be a huge mistake.
It's been 2 weeks now with multiple e-mails and several phone calls to each broker. FXCM sent me a copy of the wire transaction which I forwarded to Forex.com. Forex.com indicated that they could not find the money and that as far as they were concerned this document appeared to mainly have origination information but nothing with regard to where the money was supposed to go. During one of my follow-up calls with FXCM, they indicated that they always have issues trying to get money to Forex.com.
This doesn't appear to be a scam per-se' but more a series of issues culminating in lost funds and a tremendous waste of my time going back and forth between the two brokers. At this point, I'm not sure what I should do or request from either broker as a next step to help recover the money.
Is it possible to ask FXCM to reverse the wire and then go ahead and re-wire the money to my back account? Or is there something else I should ask one or both brokers to do?
Any help in the form of advice would be most appreciated.
Best regards,
Terry L. Robinson
I'm currently with Forex.com UK and doing very well and experiencing no issues. But I wanted to compare spreads between Forex.com and FXCM UK by capturing the spread in a text file and comparing the two brokers minute by minute.
In doing this, I transfered $2k from Forex.com to FXCM. No issues in setup up the account with FXCM and found that when I went live, my EA wouldn't work with 5 digits FXCM uses to trade at the .01 level.
I contact the EA vendor which confirmed that the EA doesn't work with 5 digits and that he is working the issue but will not be fixed in a timeframe that would allow me to leave $2k in an account doing nothing.
I then decided to close my account with FXCM and send the money back to Forex.com. I found that FXCM would only send the money back to my bank account on file instead of the origination; but then I heard from FXCM and they indicated they could just bounce back the money to the originator (Forex.com). I of course said yes, please do! This turned out to be a huge mistake.
It's been 2 weeks now with multiple e-mails and several phone calls to each broker. FXCM sent me a copy of the wire transaction which I forwarded to Forex.com. Forex.com indicated that they could not find the money and that as far as they were concerned this document appeared to mainly have origination information but nothing with regard to where the money was supposed to go. During one of my follow-up calls with FXCM, they indicated that they always have issues trying to get money to Forex.com.
This doesn't appear to be a scam per-se' but more a series of issues culminating in lost funds and a tremendous waste of my time going back and forth between the two brokers. At this point, I'm not sure what I should do or request from either broker as a next step to help recover the money.
Is it possible to ask FXCM to reverse the wire and then go ahead and re-wire the money to my back account? Or is there something else I should ask one or both brokers to do?
Any help in the form of advice would be most appreciated.
Best regards,
Terry L. Robinson