Originally posted by sadscorpion

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.

 

FXCM DO NOT and CANNOT requote as they operate a NO DEALING DESK model. Yes, they have hign spreads diriong news, but that is mentioned on their website. You may not get filled at your entry due to the volatility and liquidity issues. That's why trading the news is for mugs. 

Originally posted by leebut

 

Originally posted by sadscorpion

 

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.

 

 

 

 

FXCM DO NOT and CANNOT requote as they operate a NO DEALING DESK model. Yes, they have hign spreads diriong news, but that is mentioned on their website. You may not get filled at your entry due to the volatility and liquidity issues. That's why trading the news is for mugs.

hmmm. Its true that non-dealing desk broker cannot requote. But there are many bad practices that they do so lets add this one too

Yes, and add that they do not feel obliged to treat their non-U.S. the same by not compensating them for the same mess they made of their accounts.

NFA levies $2 million fine against FXCM

 FXCM's inclusion in LeapRate's Approved List under review

 NEW YORK, NY, August 15, 2011 – LeapRate’s Forex Industry News – The U.S. National Futures Association (or "NFA") has issued a $2,000,000 monetary sanction against FXCM. The fine was in settlement of a complaint issued by the NFA's Business Conduct Committee relating to price slippage, failing to treat all customers equally when giving price adjustments, failing to adequately investigate suspicious activity in several customer accounts, and - together with its principal Dror Niv - failing to supervise.

 LeapRate has now decided to review FXCM's inclusion in our Approved List of Forex brokerage firms, due in part to:

n  this fine, one of the largest ever levied against a major Forex firm in this context, although as part of the settlement FXCM neither admitted to nor denied any of the allegations,

n  another $140,000 fine levied against FXCM by the CFTC earlier this month relating to repatriation of accounts held by US residents at FXCM UK, and

n  FXCM's continued low rankings among US firms in client profitability, as reported by Forex Magnates (by our calculations, just 24% of US clients at FXCM were profitable over the past year, versus a 28% industry average).

A final decision in this regard will be made in the coming weeks.

 For more details, including links to the original NFA complaint and decision documents, please see the Forex Industry News section of our website at http://www.leaprate.com.

Dear Nida,

Please make sure to not copy and paste and material from outside. Copy/past materials are not counted in FxStat forum bonuses.

Thank you

Support

Yes, that's very lazy and offers nothing new to what has already been mentioned.

It's also a good idea to read the previous posts before sticking stuff on the board.

All the best,

Lee 

I'm not trader in FXCM, so I don't really know about good or bad side about this broker.

But today , I receive information about NFA fines FXCM because slippage issue......I can't give source here, because its in other forum.

Try to search by google, with keyword "fxcm nfa fines $2 million slippage".

I dont' know its true or not,,,,but I guess FXCM team should post in here too.......

Widhie75, yes it IS true. Thank you for taking the time to notify us about this, but if you care to read the previous posts you will find many comments about it and my original post about this situation that contains links to the NFA's statements if you're interested.

aw... FXCM is offering 50 no deposit bonus for UK and Ireland residents. I hope they offer it to other countries..

Originally posted by megrawab

aw... FXCM is offering 50 no deposit bonus for UK and Ireland residents. I hope they offer it to other countries..

 

What's the URL for that offer? I don't see it on the FXCM UK website.

Thanks