FXCM Reviews

I started the FXCM one month $499 class. I ended up canceling after 8 days and getting my money back, which they didn't seem to have a problem with and did promptly. I didn't get the feel that what they where teaching was going to help make me money in the forex market. I felt what they where teaching was very basic, and could be obtained by doing a search on the internet. Though if you wanted to try it for yourself, they do honor their money back guarantee and as long as you don't pass the half way point in the class they will refund your money, if you ask them to.

Hello! I took FXCM's abbreviated course. I think it was about $300. It might have been the $169. I'm not sure it was while back. Anyway, the course was okay. They did focus quite a bit on the fundamentals. I'm a university student and I've taken econ classes so it was kinda easy to understand. But when they started talking about their technical analysis, it threw me for a loop. I'm a beginning trader and I suppose I could have asked the instructor questions, but I just felt like it was over my head. Then I went to one of there free seminars in Dallas. One of the people in audience (not one of the presenters) said you really need to take the full course before the abbreviated one or you just won't understand what's going on. That made me a little upset. I had to buy a plane ticket to get to the seminar. And now I have to pay almost $600 for a course I probably won't! have time to take within their timeframe (college student, remember?). That's another negative. You can't access their course anymore after a certain amount of time. So then stumbled across Peter Bain's system. I typed his name into Google and typed "scam" after it. Everything I read about him was positive. So I coughed up the money to buy the course. I love it! He breaks it down so that even a beginner doesn't have to ask questions. I have 6 months access to everything on his site including those wonderful AM reviews. And since his course is on DVD/CD, I can review it over and over again whenever I want! So in my opinion FXCM may or may not be a scam. But you will get more value for your money if you purchase Peter Bain's system. If I never make a dime, I won't be able to blame it on Peter because he gives you almost EVERYTHING you need to become a successful trader.

I took the full course last year up to the point where I could get my money back. Which I did. The lessons are incredibly short and offer nothing more than what you can get on internet for free. In fact the support is limited to a forum where you wait to hear back from the instructor usually in a day or so. The information is very basic, focusing on simple technical analysis techniques and has no real depth. How anyone can take this course and make money trading forex is hard to believe.

2006-05-20 update After several FX courses over the period of a year I decided to take the FXCM power course for $499. This was a 30 day course and required a lot of work and lot of assignments and a lot of feedback from the instructors. The course helped me straighten out a lot of misinformation I had gotten from other courses, i.e. cfgtrading. No one ever promised that I would make money, only that I would become a better trader and get a diploma if I passed. I did, and my diploma hangs in my office. I'm still trading real money and use many of the indicators learned in the course. Could I have dug out the information free elsewhere? Of course but then I wouldn't have a diploma.

I have done 2 online courses by FXCM. 1.FX Powercourse 2. EURO Strategy Workshop. Both of them are all theory. Material covered in their courses, you can learn free of cost by surfing different forex sites. After FXPower course I took EURO STRATEGY WORK SHOP, again all theoretical lesson with some technical indicators video clips and 3 euro strategies which is not really powerful. One of their 'slingshot' strategy when we applied in our assignment work, 10 losing trade in a row came out. I learnt a lot just by surfing free stuff and Peter Bain course plus his AM review and his video library has lots of good stuff from his members. I liked members are come up with solid stuff and peter is sharing with us.

This was a good course, especially at the point in my trading development when I took it. For $169.00 there is a ton of info and the ability to ask the instructors questions is invaluable. It is VERY rigorous for two weeks though, so you would really want to make sure that you had the time to devote to it. It is an excellent overview of trading strategies and the assignments that involve placing trades based on certain indicators are good for beginning traders.