FXCM Review

It's coming up to 1 year since I joined FXCM. Couldn't be happier with FXCM. Signing up was straight forward, (I called first to talk to someone at a local FXCM office and ask about it).

Once you're signed up you get free access to Daily FX Plus. Don't know how many hours I've spent at the live webinars (many of them every week) and great tools like Speculative Sentiment Index and the auto-trader. You can get a free trial for Daily FX plus before you sign up, which I did.

The platform itself is very nice and smooth. Love the charts and the tools. The spreads don't seem big to me. Overall very happy with FXCM and plan to stay with them for the rest of my trading career.

TERRIBLE SERVICE AND I BELEIVE STRONGLY THEM HUNT STOP LOSSES ... I ALREADY AM PREPARING A STRONG CASE AGAINST THEM AT FCA ...THEY PROVIDED ME WITH A REIMBURSMENT OFFER ON A LOSING TRADE THAT HAD QUESTION MARKS ON CLOSING REASONS AND METHODS ...BUT WHEN I FILED A COMPLAIN ,... THEY DREW BACK THEIR OFFER ... TOTALLY UNTRUSTABLE IN MY OPINION

FXCM is a stop loss hunter company ... in one day the on 7th november specifically ,,,, they closed 3 trades for me ( which i pressed close all on the mt4 to close ) with a close price of 14 pips difference between close prices making them all losers ...
in the same day they closed 2 tardes for me at stop losses ... one had the stop loss originally never achieved on the chart ... and the secong on the days low for eurusd by the pip.... i must be a saint to get 2 trades closed on days low by the pip .. putting in mind that eur usd moved up and down in a 500 pip range almost that day ... THEY ARE STOP LOSS HUNTERS ... SURE OF IT ... ALL TRADES WHO WHERE FOLLOWING THE SAME EA I FOLLWED BUT WITH DIFFERENT BROKERS CLOSED ON WINS .. BUT I LOST AS FXCM IS A SCAM IN MY OPINION AND ALSO ALL EAs WHIM I KNOW OPINION TOO

2013-11-12 1Star dear all,,
i have been a victim of fxcm (IN MY OPINION SO FAR ) ... i swear .. stay away .. they activated my stop loss on 3 trades on the same day al though the stop loss was never reached during all the time the trades was open according to their charts on mt4 .... when contacting them .. they said it has been reached on the ask price only... very funny on 3 different curriency pairs . i get stop loss on ask price in same day.. i must be a saint then.. i guess i am going to fca and court ,,, just waiting for their useless reply on my final complain and lets see what happens .. but PLEASE AN HONEST ADVICE AVOID AVOID AVOID AS I BELIEVE THEY ARE NOT FAIR ...
THIS ALSO SHOULD BE ADDED UP TO THE LONGGGGGGGGGGG WAITING TIME FOR ONLINE SUPPORT WHO WILL NOT GIVE U ANY PROPER ANSWERS ... TELEPHONE LINES BUSY 24/7 ....
NEVER CONSIDERING URGENCY OF COMPLAINS....
A REPLY TO MY LAST COMPLAIN WAS A TUTORIAL ON BID/ASK PRICES :-)
VERY FUNNNNNNYYYYYYYYYYYY

there are a lot worse out there.

I wouldn't want to use them again because I had a margin call with 30% to go, tried to top up enough to cover me to a reasonable point but their servers wouldn't accept the payment and then my whole account crashed.
I believe I could have called them, but for personal reasons I didn't.

I don't need extra stress of having to jump through hoops to fund my account under extreme circumstances.
Spreads were quite wide which also made it hard for me to trade, but for some it will work. I believe they can 'make their money' (as another reviewer stated) on the pips they don't quote you that others will. Good for when you are only trading a few contracts.

Positives are the educational material, they really are useful when you're a beginner.
Choice of instruments is ok on the spreadbet account.

I have used many brokers and FXCM Rock (I use NDD platform) Why...here is why:

1. Great website, can do most things there.
2. Great customer service when I have called in.
3. Nice GUI/App, it's even better when using Trade Interceptor as front end.
4. Withdrawal process pretty painless and effective (does take a few days though).
5. Most important which I rarely found with other brokers, when I execute I more often get price improvement, I guess this is due to their NDD platform, it's only a pip or so but every little helps.

A bit limited on commodities and NDD spreads are a little wider but hey they have to make money somewhere..I think the extra spread is well worth it and often is compensated on price improvement. Often my mates have been stopped out on other platforms by a pip over stop and I haven't because I was fed the best price from multiple feeds which was just under.

Sent three withdrawal requests and nothing happen. Possibly going on the fourth withdrawal if nothing happens. Wow, I'm speechless...............

I opened up an MT4 account because they are a well-known broker

Their MT4 platform is untradeable on the lower time frames -
wide spread and repeatedly frozen platform if their is a hint of volatility.

This experience is on their 'new, improved platform'.

I've moved to MT5/ECN with another broker. Problem solved.

More than 2 years me and my friends are with FXCM and enjoying the platform and services and we are using our owned strategy,
but from middle of 2012 we felt our SL always touch and trade will continue our directions ( im not a beginner and i know things how it works :) )
so we start to change our strategy and we are not using SL anymore ( means how much we love FXCM and platform )

but few month ago we found this info from NFA which was very shocked
http://www.nfa.futures.org/basicnet/CaseInfo.aspx?entityid=0308179&type=reg

maybe we found our answer for SL problem !

i dont know whats happening with FXCM but we moved our accounts to swiss broker ( BANK ) for more safety
and we keep small amount in FXCM till be clear whats happening !!!

i hope FXCM keep doing what it was named for and was trusted between the traders .

i give 5 star for FXCM platform

cheers

LEO

Another good company, lots of training, excellent software and good at crediting your account.

look, tbh, other having to wait an upwards of a week for a withdrawal, fxcm isn't that bad. I trade frequently and haven't found a problem with them or their system. however their customer service is a bit lacking... the product, as in their trading platform, is excellent. With all these bad reviews though sometimes I wonder if im either lucky or if fxcm just hasn't hit me yet. oh and btw I trade with a 25k account and make roughly 4k a week. small chips now....but one day ...lol

We have had a horrid experience getting our funds out of this company - we were lead to believe it would be 2 days when we signed up - the withdrawal was requested Monday morning - on Wednesday spent ages on the web chat - then told it was 2-3 days now today (Thursday) have been told 3-5 days - maybe Monday) - I asked for evidence the funds have been sent - they are running a report which will take 2 days. It's a UK company and a UK bank account - also they charge $25 for the privilege.

For reference the first time I tried talking to them they kept asking why I was leaving - and lied about their fees and margins being better than futures contracts - they pushed us to do an example - and this is how it stacks up....

1 futures yen contract $100,000 Futures cost ; $2.12 per side Futures overnight margin $375

Equivalent FXCM trade cost 1 pip @ $10 margin @ $2000

Boy what a racket these guys are making an absolute killing - sorry it took so long to find out about futures I could have been profitable by now.

How can anyone say anything wrong about the only company that doesn't bet against you. They don't use the Casino model like Markets.com or half of these other brokers with "regulated" images. The minute FXCM became listed in the NYSE it showed a lot about their role in this industry. I have been trading with FXCM from my time in New York to my life here in Tel Aviv

I have been with FXCM for about 4 years now,and I am very unhappy that they are ending their service in Canada. They want me to transfer my account to some company I have never heard of (friedburg something). They only offer 1:50 margin when I used to have 1:400. They also dont have hedging. Who knows what else they dont have because I stopped reading their site when I saw that. Anyways I have been loyal to FXCM for several years and they have returned the favour by being disloyal to me. Last year or so they forced me totransfer my account to their UK office just to maintain my leverage and hedging. Enough is enough. After alot of research, I am going to join EXNESS. Bye bye fxcm I will never join you again even if you come back to Canada. And for all you out there, your country may be next!

I don't often send reviews, but in this case I feel compelled as there seem to be lots of people complaining about FXCM, which I find overly harsh. I have had good service from them with MT4 running fine, deposit and withdrawals are efficient. Their spreads may be high, buy this is offset against the fact that they do not charge withdrawal or deposit fees or commissions. I recommend them.

I've been having a live account with FXCM for the last 3 years.

You can search on the Internet and find that out that they're one of the biggest bucket shops. They try to win and make you lose. I can't say that their service is that good either. Their live chat personnel is slow in their response.

There's better brokers out there for you to open an account.

FXCM or whatever broker is a FreeMason scam based on the 7sins.
99% is Owned bij 1%,they hope to lure in as many desperate people as they can in these artificial hard times.

First I'm trading FXCM from a micro account, wich except from the high spread, compared with all the firms out there is not very problematic. The true, and say true problem is their MT4 implementation, ridicolous at best: first they claim with pompous words and very in depth descriptions the absence of requotes, slippages, freezings..then when you begin trading, even in demo (thats self explicative) you will experience instead Invalid Price, or "error 129" for the EAs users (which I am) on 60% of trades in the high o mid volatility spikes. I would stay here describing every single glitch I had with their MT4 for a day. But in the end they are a extremely serious broker, but stay away if you are a EA programmer or user.

FXCM is the only broker I have ever used and has exceeded my expectations. Everything is great, from the Trading Station, support, execution, etc. Been jotting down all my trades and even the slippage and I must say it is minimal. I also always use the market range option for minimum slippage. Because of all the misinformed reviews one keeps reading it took me half a year to chosse a broker. Heavy regulation was also a must for me. Every time I lose money is by personal mistakes, especially when I do not stick to my plan. But never, I stress, never because of FXCM. Thumbs up for you guys for doing a good job.

I find that the 5 minute option does not update - you can be watching a chart while you are losing your money because it is static. I only have a demo account and am reluctant to transfer funds to what seems like an unreliable system. I just placed a trade it started with a minus £750 then without any tick movement knocked me out at a £1400 loss. I did make £10,400 in one week two weeks ago, but have lost the majority of it since & these reliability issues send my already high loss stress levels to heart attack point.

guys i DON'T recommend any one to trade with FXCM.COM they are tricky boys the put a specific spread on the screen and once you execute your trade they charge you something different.
i executed my trade on the basis of that they are going to charge me 5.1 pips with GBP/JPY but after i have entered they trade i discovered they charged me 12.8 pips which mean more than the double of the spread.

another problem

i made a NZD/USD pending execution @0.8420 and the price hit 0.8404 but my pending execution didn't got execute and i missed more than 50 pips just in less than 1 minute.

and now im trying to sort these problems out with them.
i will keep you update guys regarding what will happen and how they gonna solve these problems.

i send my all documents deposit time he say ok with draw time fuc**** fxcm.

Best fuc**** sit is FXCM Don't join my dear frineds.Whay you vast yur Time

Hi, although I sent/uploaded my required documents one year ago. I received a mail last week saying that my positions will be closed I do not send them asap. I replied to that mail and suddenly my positions were closed which ended with loss. The funny thing is I have been funding and withdrawing my accound more than 1 year. I am sending emails since that time may 10 times forwarding my email from one year ago. But did not receive an answer. I called but the line was busy. My account is no locked and I cannot do trading or get my money back. Is this acceptable? They keep my money, closed my positions in a loss and I cannot even trade. I will get out of FXCM asap and already opened an account from another platform. Although I like the platform be carefull!!!

I don't know why so many people are rating FXCM poorly, after trading for nearly two years on its Trading Station platform, I'm still highly satisfied.
1) Deposit is almost immediate (in most cases), you will see your account balance increase in just matter of seconds.
2) Withdrawal is fast (last time I tried, it took three working days to reach my account).
3) As long as you have a fast internet connection, trades are executed almost instantly, quotes are up-to-date, minimal slippage. (Don't blame FXCM for delayed quotes or trades if you have a slow internet connection).
4) Support is awesome! I have a micro account, hence no phone support, only thru email. They still prove their service by replying me within the same or next working day.
5) Dailyfx provides good support to those who knows how to use it, especially the free forex education that comes with it. I learnt so much in technical analysis from the website.
Of course, to be fair, I won't say their signals or recommendations are wholly accurate. If they are 100% accurate, why don't they just call their website HolyGrailFX.com? Whether the signals are profitable comes down to how long have you been following the analyst, sometimes its just a matter of temporary drawdown. In fact, my win/loss ratio is lower than 50%, and I'm still banking handsome profits. Finally, no one asks you to follow dailyfx's signals, if you aren't satisfy with dailyfx, just stop using it as your trading reference.
At the end, when judging how well is FXCM, dailyfx is just their secondary service, and you can choose not to use it. Just rate their core service, i.e. being a forex broker. For their reliability and user-friendliness of trading station, I'm rating a solid five star.

FXCM have been my main broker for two years and I'm very happy with their service. The spreads are reasonable for an NDD broker - they widen as you'd expect during low liquidity but tighten again during London & US sessions - and their customer support is excellent.

The only downside is the length of time it can take to withdraw funds - 5 to 7 working days. There's no good reason for such as delay, particularly when you're transferring money to the funding account.

All in all though, my experience with FXCM is excellent and I'll be using them for a long time yet.

fxcm is a scam they own or related to daily fx the guys on daily fx are clueless with 90 percent fall picks....thier spreads are terrible...they robbed me of a lottta money be very carefull when dealing with FXCM i think they are under investigation by NFA

FXCM owns Dailyfx and set it up to feed false info so that suckers like me can believe and then lose all my money. Their spread is also very lousy and increase like crazy. If you got money to lose, then sign up with them. When you lose, means they gain... Go think about it.

Im in this game almost 10 years. Im only use fxcm untul now. For those a play forex and lost money...... Dont blame the brokers. Forex are very very high risk . For me, fxcm..... No 1 realiable broker in this planet. Your money are safe, withdraw and deposit money on time by this broker. Excellent. This broker ..... 5star services rating. For those in forex...... You must... Learn....learn.....and learn..... A lot. Thank you.

Although I lost 70% of my money, but it is good company, have very cooperative staff in Lebanon for middle east, fast debit and withdrowal, only the point that the stock trading not allowed.

FXCM platform is a scam. After a mandatory update, I tried to make a transaction, and then you click buy, you ran a sale. Thus several times. When I contacted the chat support (as there was no support available in Spanish), they informed me that it was a PLATFORM ERROR IN SPANISH, and I recommended him to use the English version, and incredibly, the English version worked fine.
However, despite my complaints, nobody contacted me to return my money.
It is the only platform I know who has an ambassador. Trash.

I used FXCM for a bit. They trade against you. If you go to DAILY FX those guys are in league with FXCM (probably owned by FXCM) and give you bad info than trade against you. Its a scam. Its set up so you lose.

I've been trading FX for just over a year, and have tried several major US brokers--OEC, MBTrading, Forex.com, and FXCM. I have never had a problem with fills, excessive slippage, deposits or withdrawals. Spreads may not the best but are consistently very good, and I have found that paying a few tenths of a pip more for a reliable broker saves a lot more money (not to mention aggravation) in the long run.

I have been using their new MT4 platform for the last few months live and demo. I get a bunch of "off quotes" and "invalid price" messages when trying to get in and out of trades. I don't use the max deviation price option. I have removed and re-installed platforms with no change. No other broker MT4 gives me the problem.

I have emailed them several times seeking info and get unrelated vague responses from them.

A couple months ago they showed the E/U pair 10-12 pips higher in price than every other source. Daily fx, bloomberg, yahoo, other brokers. All others were about the same. An hour or so later their price spiked down to equal the others. Got another lame excuse from them.

Attention fellow traders you should be aware that FXCM has now partnered with BARXdirect the dealing desk of Barclays Bank. I chose BARXdirect after much research & have been a happy client of theirs for many years. I do remember the early years of FOREX & also recall my dealings with FXCM - back then they were a bucket shop - plain & simple! I will reserve my judgment at this time as this partnership consummates in October & I will make my assessment accordingly. I do believe my assessment, in my opinion, will be transparent & accurate as I have had the experience of Barclays Direct & now will soon experience this partnership. My first aggravation at this time is the increase in spreads across the board! Initially to enjoy the low spreads offered by Barclays one had to deposit a minimum of 20,000,00 pounds sterling. So time will tell.

Nice enough trading platform.
Main gripe is on the indices, when there is volatility, such as ECB Draghi speaking...they increase the spread. Seems a tad unfair to say the least.

I had a past experience with FXCM of a 'Margin Call' which was really only triggered as they changed margin levels per currency pair without notice and then when applied retrospectively to my open trades took me into margin default. Only applying them to new trades post margin change would have saved the account. When asked, I was told it was my job to check FXCM's website and they are under no obligation to inform of margin change.

So this was generally acknowledged as a crafty retrospective scam tactic of FXCM to trigger margin calls and harvest your funds.

'You be warned you will hopefully avoid'

2012-08-20 2Star Hi FPA Readers

I wonder if anyone out there has also suffered my fate with this FXCM scam? Basically I had been trading for a few years with FXCM – intermittently and I do not profess to be a good trader, but my own trading was always at acceptable risk levels. I was in some trades recently when market went against me and I went into some losing positions, but well within my account size and then out f the blue I suddenly get the emails below from FXCM. So they waited while I was in drawdown to close my account and close my positions while negative to take my funds. Funds were not lost in trading but through what is said to be a legitimate FXCM business action.

No explanation was offered when I kindly asked to wait until I got my trades into a positive position before my account was closed, albeit obviously FXCM would not have made any money in this instance. Had they have let me, I would have been less inclined to see this as a scam.

Is this common in this lightly broker regulated market?

To me, I feel it is a deliberate and very underhand scam and perhaps this is a subject for the Traders Court, but I simply put it here to see if it is a normal or regular action of this or any other large broker or see if anyone can explain a rationale for their actions?
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Fri 10/08/2012 08:50
Dear xxxxxxxxx (name removed)

Thank you for contacting FXCM Securities. At this time your positions have been closed on account xxxxxxxx, per the resent email you were sent. In order for the funds to be returned, please provide bank details. The details should include, the banks name, sort code ,and the account number. You can email service@fxcm.com with the details. Once the details are received please allow one to two business days for your withdrawal to be processed.

If you have any questions, please do not hesitate to contact us. FXCM Securities Limited is committed to offering clients excellent execution, easy accessibility, and exceptional service. We provide full client service, with live support 24 hours a day, seven days a week.

Kindest regards,

Xxxxxx(name removed)
Operations Associate
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Fri 10/08/2012 08:50
Dear xxxxxxx (name removed)

Thank you for your continued interest in Forex Capital Markets (“FXCM”). As outlined in the Client Agreement (“Agreement”), FXCM reserves the right to terminate the Agreement for any reason it deems necessary.

FXCM frequently reviews its client account database and after a thorough review of your account, we regret to inform you that we will be unable to maintain an account with you at this time. Termination decisions are not intended to be personal in any way.

We ask that you provide us with instructions as to the withdrawal of the remaining balance in your accounts. Please submit a withdrawal request through www.myfxcm.com at your earliest convenience and we will process it for you according to the timeline set forth on the withdrawal request.

Kindest Regards,

xxxxxxxxx (name removed)

This broker is good for nothing. After few days of earning money in FXCM, they gave me without notice dealer(Virtual Dealer). Every time I wanted to enter the market I had slippage or they just didnt let me do it. They do change rules without any information for example they have lowered maximum transaction on DAX from 1000 to 100, saying that they want to improve liquidity. Noce platform but all in all they are not honest. Check how many times SEC examined their actions.

Just one thing to mention, FXCM, they EVEN don't provide trace history of trading to customer side. In other words, if you want to check something, the only source log is at the broker's will. No transparency at all, at least from my point of view.

I am Abulfotouh, Saudi Arabia. I am so sorry because for my bad evaluation rating of XFOREX I wrote FXCM (by mistake) instead of XFOREX which is a bad company and I had a bad history during trading thruogh XFOREX platform with errors during withdrawal of money. The main aim of XFOREX is only to make their victim to deposit his money which will be lost for ever,this is about XFOREX. But about FXCM, I did not really deal with it at all but I know that it is a big company. So, please kindly, I want to delete my false rating comment about FXCM on 7/7/2012 which written by me wrongly. Thank you and sorry for FXCM which is one of the very good top brokers.

2012-07-25 01Star It is better to be away from this broker. This is my advice. because there is a difficulty in withdrawal techniq in their system.
there main issue is how to make you do deposits

Comment: Added by Jason Rogers on 2012-07-26 11:38
Hi Abulfotouh,

I'm sorry to hear that you've had difficulty making a transfer. Since you live in Saudi Arabia, it's important to keep in mind that the regulations in your country are a bit different than in other countries when it comes to sending money. My colleagues in the FXCM Arabic department would be happy to advise you on the most efficient methods to transfer funds and will resolve any problems you have faced. You can email them at arabic@fxcm.com

Jason

I cant belive how many redicilous questions are being asked in this forum.... Traders, begginers please before depositing money just learn how to do the basic, the mechanical actions... PPl are depositing cash and they dont know what a bid and an ask prices are.. Yes FXCM is not the most reliable broker but think before you deposit and dont blame it all on them... There is so much hate in these forums because FXCM are the most popular brand in the world and when ppl lose money they blame it on the broker!!!
If you expect to make 1000$ with 50$ deposit you better snap out that dream people!!

I just sold 10K when I clicked sell the 5 minute chart was 0.78122, I noticed I was already down 3.88 when I looked at what FXCM had my sale it was 0.78098 so you automatically are at a loss.
Is there a broker out there that will sell or buy at the price you click on/

I have 4 large accounts with FXCM and everything seems to be OK so far.I do have a large concern though.
As we all know by now PFG Best was supposed to have about $240 mil in customer segregated funds,but in actuality NFA found only $ 5 mil.
I can not seem to be able to get a confirmation from FXCM that the amount that they are supposed to have in customer segregated funds is actually there and not missing.This is a big concern

*scratches head*
everyone complaining is talking about getting margin called, so these guys are not trading with stops. If there were comments that said "25% of my trades are getting closed out 5pips further than I placed my stop", i would be concerned. But all I am hearing is "Im not using stops and getting margin called". What a shocker!
Slippage is a part of trading, if this is causing you to loose money then learn how to trade properly. I use 20-40 pip stops and if i get stopped out with slippage i deserve it. Slippage has never been a problem for me. Ive been with FXCM for 2 years.
Customer service AAAAAAA+++++++++
Money transactions AAAAAAA+++++++++
I must be one of the preffered clients, Ha!

Received payment.

2012-06-22 No Rating HELLO READERS

I had made a withdrawal request with FXCM on 15-06-2012 and they said to me that It will reflect in my account on 22-06-2012.
Here is there email

Dear Hanif Akbar Marwat,

Thank you for your continued interest in FXCM and your recent inquiry regarding your withdrawal.

Please note that withdrawals via credit/ debit card often take between 3-5 business days for the funds to reflect in your account balance. Since your withdrawal was processed on 6/15, kindly allow until 6/22 for the funds to reflect back in your account.

If you have any questions or concerns, please do not hesitate to contact our offices via Live Chat, or by phone at (212) 897-7660/ +44 20 7398 4050.

FXCM offers excellent execution and easy accessibility to our clients. We provide live support 24 hours a day, seven days a week.

Kindest regards,

Mazy Goldman
International Fax Number: +1 212 897 7669
Email address: admin@fxcm.com

FXCM Inc. is headquartered at 55 Water Street, 50th Floor, New York, NY 10041 USA.

Today 22-06-2012 has passed and no money in my account, so I am writing this for you.

I will update you tomorrow if anything happens.

Been trading with FXCM's UK branch for about a year now and trade both FX and index + commodity cfd's. For FX they claim to be NDD and for CFD's they are counterparty which means you trade against them.

As time wnet by I started to notice that they slip me negatively on a near constant basis, both when I open a ticket at market and when I close at market. I think somewhere around 90% of the time I get slipped it is negative for me, so nothing to do anymore with chance. Complaints have led to nothing but overly friendly e-mails pointing to disclaimers and other general information. Basically saying up yours my friend. Have made a formal complaint now with the NFA and the (UK) FOS. Apparently they gain mkore from the fraud then they have to pay in fines which you see a lot these days.

I can recommend anyone trading there to keep a close watch on every ticket to see if the prices and profits are correct and how many times you get slipped pos and neg. It will not be a nice picture I can guarantee you that. Also, if you experience the deliberate slippage, please complain towards authorities. It's good to move your account away from them if you are being fleeced but let your voice be heard. If enough of us file complaints there might actually be some compensation and fines in the future.
Doing nothing will only hurt you and other traders who come behind you.

Sincerely,
Pete

Although known as the ECN platform, but the transaction has smooth point, an average of 10points. In addition to transfer into gold, need to pay attention to, much collect some money, or in gold will be ignored. I've wired $50, actually remitted successfully, but did not reach the capital account (2011March happened, then forget it, using credit card into gold ).

Hi Denden,

I am not familiar with the orders on your account, but the most common reason a position would automatically be closed for a loss is due to a margin call. You are trading a leveraged position in your account on margin, and a margin call protects your account from going into a debit balance. If you run a report on your trading account, it will display the order type that closed the trade. If you have any questions about this, or would like me to review and confirm what happened on your account, please feel free to contact me at jrogers@fxcm.com and I would be happy to help.

Jason

Something is really wrong with FXCM system... it closes again my position at a loss, it happened 2 times already after my first post here. I did not set stop loss for it. It automatically sells my position at a loss. Its crazy, if someone wants to earn profit never use FXCM as a broker.

2012-06-06 1Star This forex broker is crazy, I order EUD/USD after my order is matched they sold it at lower price immediately. And the time stamp of my buying and selling is the same.
Very bad experience with this broker. If it is possible to ill provide the snapshot

I have been spread betting with FXCM for the past 2 years with no problems at all. What I like most is that I can set a trade to buy/sell even 1 pip away from the current price plus the spread of course. Other sp brokers I know would not allow you less than 15-20 pips away from the current price. Furthermore I can trade micro, mini and standard lots on the same account where the minimum stake with my previous 2 brokers was a pound. The only drawback I can think of is that the spreads are slightly wider than on their forex platform but, then again, profits are tax free in the UK, if you make profits that is..lol… :))

I found the customer service very helpful and no problems with withdrawals. Out of all the sp brokers I have tried FXCM is my number one so far.

This is from a class action lawsuit at fxcm

Defendant’s dishonest trading practices include, but are not limited to, the following:

a. Slow Server Command: When a customer is engaged in profitable trading activity, Defendant routes the customer’s account to a “slow server,” causing trade execution to be slowed down, and allowing Defendant the time to hijack any potential profit in the trade by buying and selling in-between the customer’s order and the real market, with Defendant’s taking any profit and leaving the customer victimized with no money for his or her effort;

b. False “Error” Messages: Defendant uses its administrative back-end software to prevent the customer from closing out a profitable trade and instead causes the trading system to generate any one of a series of “error” messages to the customer, blocking the customer’s efforts to finalize what would have been a profitable order;

c. Flash Trades: Defendant, in a practice known as “stop hunting,” manipulates the market price of the traded currency, including printing bogus “flash trades” which move the “market” to trigger the customer’s stop order for a given trade, essentially closing the customer out of that trade;

d. Arbitrary Margin Rules: Defendant arbitrarily changes the margin rules on Fridays for an ensuing week without any notice to the customer, which results in the customer’s being deprived of any trading advantages or leverage opportunities they may have, and again causing the customer’s account to be closed out in favor of Defendant;

e. Abuse of “Slippage”: Defendant, in a practice known as “slipping a trade,” takes advantage of “slippage” in a given trade. “Slippage” is the change in price between the time when a price is quoted and a market order is placed. It is customarily caused by market movement while the trade is being executed. The incidence of “slippage” should roughly be equal in favor of the customer and the broker. Defying all laws of probability, in almost every case, Defendant’s customers suffer losses as a result of “slippage” at grossly greater percentages than Defendant does, which can only be explained by Defendant’s manipulation of pricing; and

“Slow Fill” and “No Fill” Commands: Defendant often fails to execute valid and profitable trade orders entered by the customer and instead causes the trading system to generate a “slow fill” or “no fill” message to the customer as the customer attempts to close out a profitable trade, preventing the customer from making a profit while generating illicit profits for Defendant.

Note i never actually traded with them i had a $50 account but closed after rash of lawsuits. a few years back but im amazed how many people still open accounts with them simply google FXCM fraud and read away on thousands of websites.

2011-10-13 I highly recommend this broker

Sure they are being sued by at least 200 clients

And sure the CTFC has found them guilty on 10 different occassion for scamming customers

http://online.wsj.com/article/BT-CO-20111003-712195.html

But if FPA wont mention any of there lawsuits and charges by the CTFC i see no reson no to do business with them

FXCM just settles a $15 million dollar fraud lawsuit so u know they have money

http://online.wsj.com/article/BT-CO-20111003-712195.html

Review Moderation Team Note: Obviously, Karon again failed to notice that the FPA sent a mailing to all members pointing to this article in the forums...

Forex Capital Markets LLC Ordered to Pay More Than $14.2 Million to Settle CFTC Charges

We also added a link to that article to Karon's review left on 2011-10-03. We don't understand why Karon thinks the FPA is trying to conceal information that the FPA brought to the attention of all its members.

2011-10-03 These Criminals were just fined 14 million from the nfa and ctfc for fraud and manipulation of forex prices in their favor and yet somehow FPA has not labeled them a fraud company yet

http://online.wsj.com/article/BT-CO-20111003-714007.html

Review Moderation Team Note: You can see a forums discussion about that subject by clicking here.

Dear Tim from Kuala Lumpur, Malaysia:

I’m sorry to hear that your matter was not solved to your satisfaction. I want to help if I can. If you could, please email me at jrogers@fxcm.com with details about the problem. I would appreciate any feedback you have, so that we can correct any problems you encountered.

Jason Rogers

I really like their tools and their iPhone app. It allows me to get the trades in quickly and view them logically. (I'm a newer trader). However, sometimes I do find their support team to be a little slow in response. So I'm giving them 3 stars.