FXCM is a forex broker. FXCM is a global online provider of foreign exchange forex trading and related services to retail and institutional customers world-wide. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. Other brokers closed open positions with a small slippage in the same time frame. Later the low risk position closed with a maximum financial damage for the account by FXCM. What happend in detail?
I guess we'll never find out what happend really in the background technology infrastructure of FXCM at this time. What the regulations say? This will take more time, but in the past there were some bad news about FXCM slippage in general e.
Since over four weeks there is no helpful statement by FXCM. The communication break down. For me there are red flags that FXCM may not be looking out for the client's best interest.
If a trader does not get email responses or FXCM fails to answer or FXCM provides vague answers to a trader's questions you should ask yourself for fairness and goodwill about all the circumstances of the case. What you could learn? We don't know how the execution algorithm is against the liquidity providers and priorization compared to FXCM Pro or others circumstances.
FXCM will change the leverage to 1: The maximum loss protection by FXCM is It could be make sense to trade different small accounts instead of one big account with FXCM. Otherwise you have to pay the bill and take the risk at the next flash crash or news event or unpredictable event or movement against you in your trading. You trade a 1. You trade a Hopefully FXCM shows fairness and goodwill in my case. Let's see if we get a fair professional response.
Pursuant to the Agreement, this termination shall be effective immediately. If you have any queries or comments, please feel free to contact the Compliance Department. Just be prepared to lose a lot of money with FXCM, especially if you're beginning small. So I decided to leave them open, with a hope that the market might reverse for them. However, all of a sudden, they gave a popup of margin call and closed all of my loss making positions 7 of them immediately, without even giving me a chance to close a few myself, to make the margin alright.
And when I wanted to withdraw all my money, there's no option of Skrill! Fees are really high and i get a sneaking suspicion that my placed trades are watched idk if they're traded against, i have no proof.
I did some random placement of stop entries some with k, some with 1MM and watched as as i place the trade, the movement of the market would gravitate toward that stop entry. Once entry is hit, the market would retrace almost immediately. I'm sure it's not the broker's fault, maybe i'm just a crummy trader as i am a newb in forex i've been thoroughly humbled in my brief forex trading career and i have no problem saying its my fault that i lost money.
Again, this is just my opinion, i don't have any proof of this and it could just be I'm a newb. I've been trading with FXCM on and off for about 5 years. I've never had any issues with them. The withdrawal process was always a concern for me with a forex broker, but with FXCM the withdrawals are very quick. The iPhone trading platform is also a very efficient way of trading and has never let me down when I'm on the road.
I still have an account with FXCM after many years. Our money is surely safe in my opinion. You can also withdraw and deposit money on time with them. There is always a scandal in Forex but FXCM has been around for years and will continue to stay strong.
The problem is with FXCM is that it closes your trades too soon. Trading is about going being in a trade and being well under, this site does not allow you to ride out a trade at all. It gives off a quick alarm, no chance to even top your account either and closes your trade.
Only twice out of the many trades FXCM has closed would I have been in trouble without closing it myself, all the other trades recovered.
IMO the only losing trade in trading is a closed one, the way FXCM goes about closing a trade within a matter of 5 minutes reminds me of Binary Options.
FXCM is another good company. Review and Ratings Forex Brokers Fxcm. One of the charges is that FXCM guanteed client accounts against negative balances. Evidently, this form of client protection is against CFTC rules. Live discussion Join live discussion of Fxcm. Video Your company video here?
Let other traders know if this service is worth checking or should be avoided. Joey Joe Joe Jr. Page 3 ofMore...