FXCM is a really honest brokerage, in the very past I had a demo account with them and they helped me all the way. TradeStation is a great platform, more serious, but perhaps not better than MetaTrader 4.

Anyone here using FXCM? I want to ask about their platform problems if these are solved or not yet.

@ illiterate

I've been using FXCM since 2009 from the UK. I've only enxperienced a couple of problems that were rectified within 24 hours on a micro account.

What I like the most are the FREE interactive live trading room webinars with instructors and comprehensive education course, SSI and Trading Signals if you want to use them. As far as I'm concerned, I'll be staying with them.

Why is support bad? You can phone and use the text chat 24 hours a day!

I use the Trading Station II platform, which is much easier to use than MT4. Trading from the chart is better than that awkward set up MT4 has. They also have Strategy Trader that I think is auto trading based on strategies but not an EA.

That's my 2 pence worth.

All the best,Lee.

 Bastards!

They got stung last week for $2,000,000 by the NFA for bad trade execution practices and ordered to pay back their clients. BUT THIS IS ONLY FOR U.S. CLIENTS. Fingers up to the rest of the world!

I've really changed my mind about them.

Originally posted by leebut

" /> Bastards!

They got stung last week for $2,000,000 by the NFA for bad trade execution practices and ordered to pay back their clients. BUT THIS IS ONLY FOR U.S. CLIENTS. Fingers up to the rest of the world!

I've really changed my mind about them.

 

" />

 

But it's still not clear....

Did they only target their malicious exeuction practices to US clients? Else... if they didn't, other regulatory agencies should step in, like the FSA for example.

Originally posted by CheckDavid

 

Originally posted by leebut

 

" /> Bastards!

They got stung last week for $2,000,000 by the NFA for bad trade execution practices and ordered to pay back their clients. BUT THIS IS ONLY FOR U.S. CLIENTS. Fingers up to the rest of the world!

I've really changed my mind about them.

 

" />

 

 

 

 

But it's still not clear....

Did they only target their malicious exeuction practices to US clients? Else... if they didn't, other regulatory agencies should step in, like the FSA for example.

 

From their FAQs about this issue: "Why am I not getting an adjustment (non FXCM US clients)? For example, I have or had an account with Forex Capital Markets, Limited or FXCM Australia, Limited—if the execution system is the same for all FXCM entities why am I not receiving a credit?

I think the FSA and all other regulatory bodies should also investigate.

But it's still not clear....

Did they only target their malicious exeuction practices to US clients? Else... if they didn't, other regulatory agencies should step in, like the FSA for example.

From their FAQs about this issue: "Why am I not getting an adjustment (non FXCM US clients)? For example, I have or had an account with Forex Capital Markets, Limited or FXCM Australia, Limited—if the execution system is the same for all FXCM entities why am I not receiving a credit?

The change to our execution process made last year adds positive slippage on all orders to all clients regardless of their jurisdiction. However, the settlement only impacted FXCM US accounts. No other accounts are eligible for a credit."

Note "The SETTLMENT only impacted [...]".

The full FAQs are here: http://www.fxcm.com/clients.jsp?cmp=SFS-70160000000E0yRAAS&mboxSession=1313295555715-699518

I think the FSA and all other regulatory bodies should also investigate.

Totally new issue for me that FXCM is targetting U.S clients. But why?

Originally posted by Sasha

 

But it's still not clear....

 

Did they only target their malicious exeuction practices to US clients? Else... if they didn't, other regulatory agencies should step in, like the FSA for example.

 

 

From their FAQs about this issue: "Why am I not getting an adjustment (non FXCM US clients)? For example, I have or had an account with Forex Capital Markets, Limited or FXCM Australia, Limited—if the execution system is the same for all FXCM entities why am I not receiving a credit?

 

The change to our execution process made last year adds positive slippage on all orders to all clients regardless of their jurisdiction. However, the settlement only impacted FXCM US accounts. No other accounts are eligible for a credit."

Note "The SETTLMENT only impacted [...]".

The full FAQs are here: http://www.fxcm.com/clients.jsp?cmp=SFS-70160000000E0yRAAS&mboxSession=1313295555715-699518

I think the FSA and all other regulatory bodies should also investigate.

 

Totally new issue for me that FXCM is targetting U.S clients. But why?

 

Only U.S. clients are getting their money because the complaint was made to the NFA, which is a regulator in the U.S. and can only act for U.S. clients. 

The details of the complaint and response are here: http://www.nfa.futures.org/news/newsRel.asp?ArticleID=3851

It says that FXCM will have to pay more than $2m. $2m for the complaint and the additional money for other customers who faced same kind of problems in a specific period.

Other regulatory bodies should investigate it. So that thei citizens can get refund. This $2m issue will effect badly FXCM and I think its right. FXCM should be punished more than this.

FXCM is good broker but i cant trust them bcs my so many clints face problems with them from there support to withdraw money and requote many times during any big news and there sl hit many times rather other brokers price not touch that area. many times they just raised spread so much that your sl will hit automaticly if it is 25 pips away from the normal price.