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FXCM.com Review Visit site

Updated: Aug 17, 2018
2.461 · 539 REVIEWS
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February 6, 2017:  FXCM fined $7 million by the CFTC for defrauding retail forex customers.  FXCM to deregister from the CFTC. CLICK HERE to read and discuss the CFTC announcement.
August 18th, 2016.  The CFTC has filed charges against FXCM related to undercapitalization during the SNB-CHF crisis of January 2015.  One of the charges is that FXCM guanteed client accounts against negative balances.  Evidently, this form of client protection is against CFTC rules. CLICK HERE to verify.

February 26, 2014:  FXCM.uk fined by the FCA. Click here to read about it in the FPA's forums, along with FXCM's response.

October 3rd, 2011:  FXCM fined by the CFTC. Click here to read about it in the FPA's forums, along with FXCM's response.

FXCM is a forex broker. FXCM offers the MetaTrader4, Active Trader, Mirror Trader, Ninja Trader, and Zulu Trade top forex trading platforms. FXCM.com offers over 50 currency pairs for your personal investment and trading options.

FXCM.com

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FXCM.com profile provided by Maria Ramos , Sep 24, 2014


FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide. At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM’s large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.    


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2.461 · 539 REVIEWS
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DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

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Dubai, United Arab Emirates,
Aug 15, 2018,
Registered user

Spreads

Good spreads withdrawl little delayed though, But got an apology call for the same so Its ok :)
INDONESIA, Indonesia,
Jun 21, 2018,
Registered user

SCAM , FXCM NOT PAY MY MONEY $5457 USD , WITHDRAWAL NOT PROCESSED

hello all, if anyone can help me, fxcm not pay my money $ 5457 usd, i deposit $ 2800 usd , then i have profit $ 2657 usd and my balance become $ 5457 usd, then i do withdrawal request, but after i do withdrawal my account instantly become locked up, and I've sent an email to: admin@fxcm.com, jrogers@fxcm.com to inquire about my withdrawal, but they all nobody ever replied, which means fxcm does not want to pay me $ 5457 usd, so I ask anybody who can help me please help withdrawal me so that can in pay by fxcm

ACCOUNT METATRADER : 96085956
EMAIL : djokosatrio@hotmail.com

this screenshot metatrader me :
[URL=http://s1356.photobucket.com/user/DJOKOSATRIO/media/screenshot%20metatrader%20djoko%20satrio_zpsyc7bw5cs.jpg.html][IMG]http://i1356.photobucket.com/albums/q738/DJOKOSATRIO/screenshot%20metatrader%20djoko%20satrio_zpsyc7bw5cs.jpg[/IMG][/URL]

http://i1356.photobucket.com/albums/q738/DJOKOSATRIO/screenshot%20metatrader%20djoko%20satrio_zpsyc7bw5cs.jpg
Reply by Jason Rogers submitted Jul 9, 2018:
Hello djokosatrio,

Thanks for your post. It is my understanding that our compliance department is handling any communications with you and I am therefore unable to help. As much as I would like to help and am able to in most situations, our compliance department will need to help with any inquiries about your account.

FXCM Markets is committed to maintaining the highest standards of ethical behaviour and professionalism as well as a high level of trust and confidence, all of which are pillars of FXCM's corporate culture. FXCM has earned a reputation for fairness, honesty, and integrity, and considers this to be our most valuable corporate asset. FXCM had over 109,000 active accounts as of our latest metrics release for June 2018 and it is our goal to process any deposit or withdrawals as quickly as possible. If there has been a delay on our side I do apologize, and we will do our best to resolve the situation as quickly as possible. There may be rare instances a delay has occurred due to the need for us to follow strict legal rules and regulations in regards to how we handles client’s funds and again I apologize if this is causing a delay. If you have any questions about this please feel free to reach out directly to our compliance team whose email address will be included in our recent email communication.

Jason
London, United Kingdom,
Jun 3, 2018,
Registered user

SCAM

I didn't think I will be have any problems with big broker firm like FXCM but it is happened... I did withdraw into my old account by mistake. Keep in mind that this account is closed and switched half a year ago. Some how thay approved the transaction and start to blaming the bank how explained to me that this is simple possible. Can you imagine your employer to sand you tour salary on your old long time ago closed account and instead of tells you "it was declines give me a valid account" , he tells you "there is no problems, the money are there, you keep looking." Well that is my expiriance with this guys.
It is not correct and thay didn't give me even some kind of a code to help me track this mystirias transaction.
Reply by Jason Rogers submitted Jun 11, 2018:
Hi v1ctor90,

I apologize if there was an error in sending the bank wire, and our operations team is available to help whether it be supplying the wire confirmation details or helping with your bank to ensure your funds are returned. FXCM has over 110,000 active accounts as of May 2018, and ensuring all requests are processed properly is very important to us. Please send me an email directly at jrogers@fxcm.com so I can have our operations team help to get it resolved as quickly as possible.

Jason
Bahrain, Bahrain,
Mar 6, 2018,
Guest

New traders are to blame for thier losses, and FXCM is to blame for promoting accounts of $100.00

Hi
My name is Mohammed.

I've traded with FXCM in the past, I've won and lost many times in my trades. I'm an experienced trader now, trading since 2005.

If I wanted to give a review of FXCM, then yes, during my time with them I've experienced entering trades before the prices even reached my designated order price, while the market was not volatile, but not all my orders to be honest, and yes, some of my trades have been cancelled before prices even reached my Stop Loss order, which rarely happened. I believe that it was a technical issue, especially that I found that in the hourly chart it has reached my Stop Loss order, which didn't print out in the daily chart.

I'm not a day trader, my trades are based on the daily chart, and formulated my trades in the 4 hour chart as a minimum, I never did trades below the 4 hour chart. Any experienced trader knows that day trading (below the 4 hour chart) ended up losing trades 85% of the time, so, personally I don't recommend day trading especially in Forex due to the high volatility of prices.

I read many reviews in this website, and to be honest, I think that 90% of them are from new and inexperienced traders, who are actually day traders. No decent trader ever opens an account and funds it with $100.00 and expects to win largely by entering high amounts of contracts, you have to expect a margin call, especially with a tight account of a $100.00 fund. I blame FXCM for promoting the possibility of opening accounts of a $100.00 or less. I never funded my account below $1000.00, and with it I only traded 1 currency pair, just to be safe. In all my trades I never risked more than $100.00 per trade. Traders have to be disciplined, and eliminate greed and fear when trading.

So, to conclude, FXCM has technical issues with their platform, but wether it was on purpose or not, that's another issue. My take is, that most new traders, have no experience in the trading business, and all fell to the classic trading mistake (blame everyone else for my losses, except my own wrong doing).

Thank you. (March 6th, 2018)
Reply by Jason Rogers submitted Mar 15, 2018:
Hello Mohammed,

We offer micro lots which is why users are able to fund with $100. Many traders fund with a small amount to test and then increase their account size depending on how comfortable they are trading. Each trader is different.

The most common reason a trader would see their stop loss execute without seeing the price reached on the chart is because they aren’t factoring the spread. There are two types of prices to pay attention to in trading. One is the bid price, which is the price you would sell at. The other prices are called the ask prices, which are the prices you buy at. You can view these by going to Trading Station and pulling up a chart. In the toolbar, there will be bid and ask buttons to flip between either chart. You can see what I mean here if you’d like: https://www.youtube.com/watch?v=bPqhq89JQfU

If there is ever a question about the execution of a trade, you can file a trade audit. At FXCM we take trade audits extremely seriously. We have a team dedicated to dealing with these specific situations.

Jason
Cape Town, South Africa,
Feb 13, 2018,
Guest

I traded for a week with 50 dollars, I got scared and I requested my money a profit back. I never found any problems. I re activated my account and I'm trading .I'm not finding anything wrong.
Reply by Jason Rogers submitted Feb 22, 2018:
Hello Bulumko,

Good to hear everything is going well with your trading!

Jason
Sydney, Australia,
Feb 11, 2018,
Registered user

FXCM Closing Account with No reason

They scammed me. They took a decision to suspend my account and gave me 30 days notice to close it with no valid reason. The answer I got was we have made a decision to suspend trading with you. I have had an account with them for 9 years and will lose of $80k due to this action from them. Totally unprofessional. Others please be careful. (this is FXCM Sydney which is registered under ASIC)
Reply by Jason Rogers submitted Feb 28, 2018:
Thank you for choosing FXCM, and I am sorry we are no longer able to service your account. As a regulated broker, we may be unable to provide services for some individuals. Our compliance department can be reached at compliance@fxcm.com with questions

Jason
Torino, Italy,
Jan 29, 2018,
Registered user

SCAM

they scammed me. I have 11k not possibile to withdrawal because my account is locked and nobody know why. Nobody reply me since 3 weeks
Reply by Jason Rogers submitted Feb 6, 2018:
You can withdraw from a locked account by emailing admin@fxcm.com. I would be happy to investigate the issue if you can please email me at jrogers@fxcm.com.

Jason
Ghana,
Jan 8, 2018,
Registered user

STAY AWAY IF YOU WANT TO TRADE FOREX AND NOT TO APPLY FOR A JOB WITH FXCM

SNEAKY ACTIVITIES BY FXCM.
I opened a live account with FXCM in September 2017, I deposited 120 USD from my debit card linked to my bank account. In November 2017, I made additional deposit of 60 USD with that same debit card. Then finally in December 2017 I deposited 50 USD in my account with that same debit card. Then all of the sudden I received an email from their operations department that since this is my initial deposit (which it wasn't), I should submit copy of my credit/debit card or debit card statement. So I submitted a copy of my debit card. After about a week, I received another email from their operations department in UK to submit my bank/debit card statement and employment details. Which I did without question. Then after almost a week, I received another email from their Chinese operations to explain the origin and details of some amounts in my bank statement . STAY AWAY FROM FXCM. I have replied for them to return the deposit to its source and Wil close my account when that is done then move to a different broker . Additionally, they once suspended my live account just because I opened another account and refused to submit additional documents to validate that account. STAY AWAY, FXCM is not for us.  I will update as and when they reply.
Reply by Jason Rogers submitted Feb 6, 2018:
FXCM has very strict regulatory requirements in regards to deposits and withdrawals and must in all situations verify that deposits are in the name of the account holder. I apologize if this caused you any inconvenience.

Jason
USA,
Jan 1, 2018,
Registered user

FXCM WILL STEAL YOUR MONEY AND CALL IT TECH ISSUES.

I have been calling out FXCM's thievery for years!!! NEVER trade with them or believed the bs they post on here! They straight up lie and steal your money. Any time I was profitable with them all of a sudden TECH ISSUES!!! HAHAHAHAHA what a joke. Luckily i only deposited small amounts because I never trusted them! You're thieves FXCM and ya got what ya deserved!! HAHAHAHAHAHAHAAH LUV IT!!!!!!!
Reply by Jason Rogers submitted Feb 6, 2018:
Hello hillo,

I don’t recall any recent tech issues, but our support team is available 24 hours a day to help if you encounter any technical issues. We also maintain the site www.fxstatus.com with updates on any system issues.

Jason
SYDNEY, Australia,
Dec 19, 2017,
Registered user

FXCM VERY BAD

VERY BAD FXCM BEEN 4 MONTHS USING YOU, NOW MY ACC BEEN SUSPENDED FOR 4 WEEKS ALREADY WITHOUT CLEAR REASONS. AND I HAVENT GOT ANY EMAIL OR ANYTHING ABOUT MY ACC UNTIL NOW.YOU SAID BEFORE ON EMAIL JUST 2- BUSINESS DAYS. AND IF I DONT WANNA WAIT FOR REVIEW I CAN CLOSE MY ACCOUNT, I SENT EMAIL TO YOU SO MANY TIMES ABOUT TO CLOSE MY CCOUNT AND NO REPLAY AT ALL. ILL GO TO FAIR TRADING IN FEW DAYS, 
Reply by Jason Rogers submitted Feb 6, 2018:
I apologize if there were any delays in communication from our operations team. Please email me directly at jrogers@fxcm.com so I can investigate any problems that may have occurred and address it with our management.

Jason