I have had an awful time getting in today and would like to get in and get my money out! When I send an email to ask abt it they told me was due to market uncertainty. Is this a live account? They throw you around like a bean bag when they are wrong. So you have to be very carefull in fx trading and use metatrader instead of their marketscope. I accounted for maybe a widening spread of from the normal 2.
Forex Capital Markets Limited ("FXCM LTD") is authorised and regulated in the UK by the Financial Conduct Authority. Registration number Registered in England and Wales with Companies House company number
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It is possible to open an ECN account for a far lesser amount and higher leverage from other brokers and it is a mystery as to why FXCM has stuck to their marketing strategy of reserving high-end ECN accounts only for large deposit account holders. The FXCM spreads are once again higher at 1 pip standard, and also include a commission per trade. The trading conditions are mostly similar to the Standard account but include other benefits such as lower commissions, lower spreads, free VPS access, dedicated account manager, and other similar features.
FXCM offers multiple trading platforms that are hugely popular among traders. The TradingStation platform is a great tool that offers advanced charting functionalities and a great interface that is highly suited to the complex world of FX trading. Mobile traders will also find the TradingStation mobile app to be far superior to the MT4 mobile app, as FXCM has spent an enormous amount of resources into developing their branded TradingStation software.
FXCM rarely offers any promotions; instead, they offer contests that offer prize money. Traders choose FXCM for their relatively safe and secure trading environment, and if their recent performance is any indication, it is safe to assume that the broker is indeed headed for market dominance.
Your email address will not be published. Experience with this broker Months. Was the information useful? I agree with all the complaints other have had about them. And now im trapped, i dont have any money left to move to another trader. Stay away from FXCM or you will lose your money. Firstly, Overall I have made a small profit.
Initially i doubled my money and then lost it all. It was my fault and nothing to do with getting scammed. I risked too much and "played" FXCM a little like roulette. When I did make a little money, and I am only talking about , I was able to withdraw it quickly and easily. I have been using the new mobile version which I have found very useful. It has many bugs and is only at the testing stage, but I have found it pretty reliable.
When I did have a problem with not being able to use access my orders through my phone, I was able to call FXCM and they helped me out, even though I have a micro account and am not entitled to telephone or online assistance. I would hope they were just acting as an agent between buyers and sellers and not a buyer or seller themselves. BUt I have no idea what they do. Basically, I do all my trading online and i can see if an order is fille d or not.
I don't think FXCM could scam me very easily. If they locked me out, it could just as easily help me as hurt me, so I don't think it would help them to lock me out. I think they are quite happy to let me and people like me trade freely-they make plenty from the commissions. And, thats what you get with FXCM. Is this being Dishonest?
Yes, I would have to say so. No, be aware that these situations. This can Happen so be prepared. How can I prepare for a Platform Lockup? It is a horrible feeling, and comments in this forum can barter the emotional feelings, But we cant do anything.
Brokers will always blame it on our computer or Internet connection. How can I prepare for delayed execution? Don't scalp at market opens, News, Or try to get in on Big movements.
I personally stopped using FXCM about 3 months ago. We have used FXCM for over two years. Were we ever a Victim? And, we documented it. We were locked out of our platform, Stoploss and TakeProfits were not honored, and delayed execution which froze 2 orders from being present within the trading platform.
This has happened several times in London Session. We no longer use FXCM. So I went ahead and opened an account with FXCM and quickly realized that they scam you and you can not do anything about it. I have had the exact same things happen to me as all the other posts mention, and have kept the tick chart open and watched the spread get widened to hit my stop and then on the other side watched it get widened so it would not hit my profit order, I quickly removed the profit order and the spread went back to normal, add the order back and the spread again widens by twice its normal.
And just for the record I have been trading FX for 5 years and never have I posted on blogs but I had to this time. I have not experienced ANY of the negative items listed on this page. I don't get the complaints made here This has never happened to me and I have made hundreds. Granted my account is lower than when I opened with 20K but that is my fault.
This is via a trading company that works for FXCM. June has been the only good month. This means that March, April, May and July have sucked. They've made more money for the broker than for me.
We had another short talk last week and this is the answer I received: If this were not the case, you'd still be seeing the balance remaining the same while the trade was open. Also in the brokers eyes, once they reopen the position at the price the new accounts enters at, then if it continues in our direction we will gain those losses back So, was this from poor trading or did new clients get added to the pot?
I was told that everyone with a managed account is traded from the same pot of money. If this reasoning makes sense to anyone, please clue me in. I'm looking for another place with managed accounts, but pickins are slim. Is anyone out there happy with their managed account? Please and thank you for your feedback. Means all this "sign up" was meant only to gather my personal information for some dark purposes.
Now need to worry what dark purposes they had on their sleep when collecting all my personal info: And after again and again "Auto acc. You can see my complain somewhere. By the way, I was waiting 2!!! With you I have less profit any more lost. Are you a trader? Do you have your personal experience with trading? Or you just repeating what you learned on the training??? OK, i spending my time with unproductive chating and I have meeting in a minute, so I have to go. Thank you for your time.
All you people who say FXCM is a scam, "oh, they took all my money", they stop hunt, trade against you, you are all a joke. This is the biggest market in the world, it is the most unregulated market in the world, it is also the most leveraged and volatile market in the world. This is the wild west of investing, and if you can't handle it, maybe you go hide under the covers of your bed where its nice and safe and warm.
It's not for the quick-buck artist, or those who want to "get rich quick". Nothing I've seen in my few years of trading had led me to believe either of these companys are scams in any way. In fact, FXCM gives out free advice and training if you have a live account with them.
Forex is very similar to stocks in that you don't go looking for trading oppurtunities, you wait for them to come to you. The BP oil spill. As all the sheep were busy dumping their stock, I was scooping it up at a bargain price. There is a reason that these companies trade against their customers, why shouldn't they, when the majority is always wrong?
FXCM will be the first to tell you, too. They update it twice a day, and even advise you which direction to trade. Is it their fault people go against their advice? I thought it was a free country. I'm with Oanda now, as their ability to trade any unit size gives unparalelled flexibilty. FXCM Service is very good. The call back in seconds, they answer to every Email within minutes! The software ist very good, spreads are low These reviews are scam, not FXCM!
One of them made quite a bit of money so FXCM disabled my account. They said I was manually trading and exploiting some MT4 bug. As I never manually traded, I was puzzled by their action. There have been a few admin problems but they were sorted out fairly quickly. I get really annoyed at the accusations of stop hunting simply because a stop is hit.
The only way to confirm this activity is by comparing price against other reliable brokers. In the years I have dealt with them I have seen no evidence of this sort of activity. Their pricing is always identical or within a pip of other brokers. As for margin calls, probably for nubies who unfortunatley know nothing about money management and allow greed to dictate their actions. Rather take heed of the risk warnings and be grateful you were closed out on margin or you might have lost more than you deposited.
Spend some money on educating yourself specially "Money Management" and a person with mediocre trading skills can make money in this industry. I do agree that they can buck up on their admin side, but their trade execution is good and I have never had a position added that I never placed or a trade closed for no rhyme or reason. I note with a bit of dismay that all the larger brokers, who also happen to be the most regulated and adhere to the rules are all branded scams, this all seems like a bit of a joke.
Any further regulation in this industry will kill it for all of us. I was interested in opening another account with a different broker simply to diversify and decided to do some homework as I did not know the broker when I came across this site. Maybe a simple questionair will cut out a lot of the bogus accusations from inexperienced traders. Years or months of trading experience? Was there a fundamental at the time. I am aware that there are some crooked brokers out there and maybe even some justified criticism on this review site, but to brand every second broker a scam because some ill advised, greedy, ignorant traders lose their money.
This is a bit of a joke and certainly not a fair reflection of all the brokers branded scam artists. Whilst I am all for freedom of expression maybe a few pertinent questions posed before a comment can be made will give a fairer more balanced view. I am an independent forex trader with 12 years full time trading experience not affiliated to or working for any Forex broker; and find that I really cannot use the reviews found here as a reliable barometer to review any particular broke.
I only started trading this month, but have been going on a demo account for the last year. First experience, there was news that moved the market in my favor, I had a limit of 40pips, but wanted to remove it, kept trying to send order, but, kept returning an error message. I didn't put in a limit order, and now I want to close my position, but cant log in. I've been trying to log in for the last 45minutes and still cant get in. The market has now retraced back 28pips, and I still cant get in.
Keep getting Time out error. Maybe the trading station is better, but I dont have it where I am now. It appears that the market is moving up again, so maybe I can get out soon.
Maybe I will call them and ask they close my position for me! I just got in to my account, and lo and behold, I am now sitting on a losing trade. I wanted to just close it and not trade from the mobile app again, but just as I was about to send a close order, I refreshed, and my trade moved in my favor, and I was positve again. The app then crashed, and I am unable to log in again. I dont care anymore, I will call and have the trade closed by their trading desk, but I am not going to trade through the app again, and may even start searching for a new broker.
I send an email complaints and I chat with the live support. I do not have any pets so I can not find a reason. While you are waiting, feel free to view our Trading Platform Help page to find fast answers to common questions. Please give me a moment to review your first question. I see customer name hiden: If I may ask, which platform are you using? I can give you my account number customer name hiden: I have sent two trade complains customer name hiden: In order to go into further detail I will need to verify some account information with you for security reasons.
Can I please have your physical address, date of birth, phone number please, and your email address. If I may ask, did you receive an email today regarding this issue? I do apologize for the inconvenience but I must log off chat so I will be passing you to my associate Chat InformationPlease wait while I transfer the chat to the best suited site operator.
Chat InformationYou are now chatting with 'Edward' Edward: Did my associate Imad answer your questions regarding this case? I did not get an answer yet customer name hiden: I think you are the one he was talking about Edward: Ok normally, micro questions would be answered through email Edward: But I can check on this for you Edward: My associate Michael Lucia sent you an email on them customer name hiden: I did not touch or click anything customer name hiden: I was waiting to close the position later on in the day customer name hiden: Well we checked the IP that the signal was coming from and it mathces the same on the closing end as well.
I turned off the hedging feature customer name hiden: I leave the trading application running when I go to work customer name hiden: I do not have any pets in the house that can move the mouse customer name hiden: Well, at this point it doesnt seem to be any sort of server error. The IP stamp indicates that it came from the same computer used to open the trade customer name hiden: Is this a type of a cut loss feature or safe guard customer name hiden: There was not a margin call on the trades customer name hiden: We cannot disable the margin call feature Edward: But these trades were not margin called Edward: They were simply closed customer name hiden: I understand customer name hiden: I was at work the whole day Edward: I would recommend an uninstall and reinstall Edward: I would like to try and put orders, then when I go to work i want to switch off the computer.
Yes it would customer name hiden: You can monitor your trades not in real time from myfxcm. This chat will be emailed to you customer name hiden: I will try what you have told me customer name hiden: If you dont mind me asking, what type of cell phone do you have? I don't use smart phone customer name hiden: If you do have further questions, be sure to notify the micro team Edward: Thank you for chatting!
All clients with live accounts can log in using the log details from their live account. I've recently opened up an account with FXCM after trading for couple of weeks in demo account.
I got the confidence to trade after studying many books about it then earning 25K in just couple of weeks on FXCM's demo account. But unfortunately, i've lost all my money on FXCM's live account. And now after going thru numerous posts on internet about scams from FXCM and other brokering firms, i kind of see no point in trading any more.
Just wanted to get your thoughts on it. Do you recommend any Fx firm in australia that is safe to deal with. Any tips will be helpful. My only problem is with the iPhone app. Whenever there is news or higt network traffic, it is impossible to connect with the mobile app. This does not happen in the trading station, and from now, I will use the mobile app only to check on my trades if I'm away from my workstation. These guys are not a SCAM, they are good brokers, and their software is amazing.
A lot of the people who complain here either dont know what they are doing, dont know how to trade, or have poor risk management, end up losing their money. My biggest problem, which I have since overcome was the psychology and money management. I'd find that I am in a losing trade, and the market would go against me.
I'd start to get anxious, and after losing more than I should since I didn't have a stop loss, I'd double down, either place an even bigger order to recover my losses, and lose even more.
My other problem was I was over leveraging, and would often get a margin call. First problem resolved by placing a stop loss on all trades, I can move it towards my open price but not away that is one of my rules and also for the psychology, I now if I lose 2 trades in a row, I stop trading for that day. These 2 rules have really helped.
They will Lock you from closing the trades. That means if you are using robot , it cannot close. They will not allow you to close. So you have to call their support to close. Sometimes I even feel like "the man behind the curtain" that controls Forex is watching my trades only and flips the switch as soon as I enter.
Yes, this man that controls all the currencies in the world has it out for me for some reason. He sends the market in one direction just to tempt me to enter the trade and as soon as I do, he reverses it. I know that sounds ridiculous but that's how I felt at the beginning.
I knew this wasn't really happening but that's what it feels like when your losing money. When you switch from demo account to a live account, you trade different. There's real money at stake and you just trade differently. It sucks that so many of these brokers only make trading platforms for Windows when I use Mac.
Even with Parallels, I seem to notice a big difference in functionality of the platform when running in Coherence Mode vs. Also, I just stopped running Parallels in Coherence Mode. I'm kind of starting to think that was the problem with my previous broker. Well, not the broker's problem. Now I feel like a tool. I really like what FXCM has to offer though.
To all new traders, beware of any Forex Insider news that you may get. It's kind of like the Enquirer of Forex. They hear rumors and print them. You just have to learn to take the info with a grain of salt. Some is true and some isn't. Even if FXCM does trade opposite of some of their customers, the only man that's been known to "move the market" is Soros.
That's a lot of people! You will most likely lose. I've read about people that consistently lost money for 5 years until they started making money. Do you have that level of commitment? Don't chase your losses. These are things to keep in mind. The most losers have the same problems: I have never done this before. I really don't understand how do you lose i haven't had any lose postions but had made little bit.
I dont know whether they scammed me but I do know that the system freezes just when you dont want it to and that the slippage is horrendous when you dont want it to be becuase I am using another live feed to check prices.
Also, I could swear I was being bet against especially on high leverage trades! Again I dont know if all this is down to my inexperience but I seem to have much better luck on their demo account. I called FXCM and the help closong the orders took exactly the time it needed to reduce all profit to zero. When I called them they said- we emailed you about this. It looked like simple SPAM e-mail. When they wanted to close my account they tried to communicate with me in Japanese.
They throw you around like a bean bag when they are wrong. Really horrible customer service. I had problems when I was using MT4 though them so I changed to their Trading Station platform which is heaps better anyway. I wouldnt completely trust any broker so have in the account what you need for margin and keep the rest in the bank. When I open a demo account with FXCM it is seems the trend is friendly with me and easy to get profit, I am convinced to open live account the trend is always against me, I had a hard time to make profits, I felt there is someone trading against me, whatever position I enter it eventually reverses by position and price gap is too wide, but in practice it looks good.
Also their broker agents are very persistent to make you open live account even when you are just practicing new, when you loss they advice to deposit again until you got broke, after that they are not so concern with you anymore. So what happens if you make a lot of money? I have lost my trust now. Has anybody else had this problem?
Great service, fast wire-transfers, 8 out of 10, taking 2 off cause the spreads get wider just as the markets close, and you cannot start trading the gaps Sunday evening.. Active Trader is great for scalping.. That would in reality read someone is venting his anger at being mugged in broad daylight and then being asked "What can you do about it".
Fancy name of "Audit committee " for a bunch of muggers from the Ghettos. Some genuine chartist are around as a front to give verisimilitude to the claims of an institution. Paying millions to attorneys? That is a laugh. These guys are small scale penny pickpockets who probably only fix the local police. They play games like Cat and mouse and muggers club and some time transfer you back to the main program. But even in the main program the argument that you are in some way dealing in foreign exchange as the rates fluctuate all over the world is fallacious.
The fact is that exchange rates vary over a small range in a day. This range is broken down into pips and your bets are leveraged on the pips. Within the range FXCM can move the rate in any direction at any given time of the day to their advantage.
When you try to balance this out by a bidirectional play, they just nuke you by changing your bets on your behalf. The ever chanted excuse is that the customer anyway comes to them driven by greed. Does that justify the criminality of the operation? Sure efficient Money management is the trick. The best way of efficient Money management is to keep clear of the bandits in fxcm. Sure you can appeal to the Ombudsman- only when I did - pat came the reply that they do not deal with fxcms - only with Insurance and banks.
Don't touch fxcm with a barge pole unless you are in the US and an attorney. Online computer fraud about describes fxcm. They brazenly take over you account on the computer - operate and manipulate on your behalf to run you into the ground.
Famous Ciches as a sop after robbery: Efficient money management, unanticipated volatility, nature of forex markets is sudden rainfall and so on. Nothing about how they can operate your account. Mixed results but starting to see some weird "coincidents". Like, every time I open a trade the price action stalls around my open. Ok, If I was opening huge postions.. Then, there is a tendency for trades to gravitate towards any stop I place but this seems to be limited to a "unnoticable" pip level.
Maybe lightning does strike twice but it seems weird. I get the general sense that these guys are building a platform for profit versus a platform for market making. Sad cause it doesn't take much thought to realize that you make money on both sides of the deal as a market maker. And, in fact, make more money if your clients also make money. I accounted for maybe a widening spread of from the normal 2. I also had a negative slippage. I called them many times asking why. Also, I just noticed, by not making me active trader, they can charge my smartphone trades.
If I qualify for active trader status, why I must fight for it is beyond me. This status must automatically appear in my account as soon as I qualify for it. Active Trader means lower commissions and free smartphone trades. When I used them, you would either win or lose, then they change to you had to beat them and their spread too. No more higher or lower, but higher or lower within limits. They like to take and not give back. Throwing your money away and how fast?
The worst being that the price charts are simply not accurate at all. And FXCM does indeed hit your stops and margin limit from as far away as 20 pips on a regular basis.
The price never reaches these points on any other data service I have several on at all times but fxcm shows up to 20 pip one second moves-thats 20pips down and then 20pips back in a few seconds.
I would have to conclude based on a year of trading that fxcm is a scam, sorry. Phantom trades , impossible execution during heavy trading hours , not allowing to close out my trade and lock in my profits. Frozen platform, getting stopped out matter which direction I went, in other words watching the chart mysteriously gravitate towards my stop every time, and then make an abrupt reversal. They're laughing their sick heads while robbing unsuspecting traders.
Stay clear of this Broker , it is positively a Scam and any good reviews about them are an inside job. Traders beware of this Broker! God only knows how many people they've scammed. This is coming not only from me , but from some expert talent in the business. They have a friendly staff that always patiently answers your questions. They offer good educational material.
There was no hassles adding or removing funds. I had no problems with the trading platform, no unexplained slippage while buying and selling. The problem starts where it really matters, the price action. Movements against you always travel much faster and further than any movements in your favor. Getting prices from multiple banks seems a good thing, but it is how the scam is accomplished.
You start the trade from a bank with a competitive price. Once in the trade the broker can legally switch your price to what any one of their associated banks is offering. With a wink and a nod you are switched to the pricing of a bank highly unfavorable to you.
Now that same bank will give a wink and a nod to the brokers trades with exceptionally favorable pricing on other pairs, making it much easier for them to profit. It is found at the end of their agreement. Test my words for yourself, but not on a practice account cause it didn't happen there. It looks like they didn't learn from getting sued. They probably have no proper support to answer the questions regarding their service. In Aug 13th, fxcm stop loss all my orders!
My friend and I traded with them. He makes lots of money on gold. What they did I just close the opening of trades. They said some mt4 traders have problems.. I think they are the best. The reasons are evident. A trader has to pay a price for Forex in the United States in the restrictions placed for the regulations but FXCM is absolutely safe and trustworthy.
Besides they are well known and stable. The have everithing a trader needs. This whole FX market is a magnificently tragic disaster if you are a US trader.
Dodd Frank killed our ability to use competitive leading foreign brokers, for added misery they then killed our ability to trade precious metals Well at least the miserable choice of brokers we were left with included 1 or 2 seemingly reputable ones. Now we read that the biggest US broker has been screwing its own folk with slippage for god knows how long I transferred funds from my U. Almost three weeks later and they are still not there.
Rang fxcm and the phone rang off the hook for minutes. Worried about my money. They say they have mistaken my account number. Think I will close the account.
When you have a good gain on MT4 they cancel it by a " auto account sync" and tell you " your trade did not work" you have to check your trades also on trade station. It is a good broker if you like If you want to lose your money go with them. You're gona have plenty of disconnections on the platform and sometime just before the week end without having the possibility to close your position with the hot line. Repeated disconnections and important slowing down on the platform or false error messages won't let you close your trade with profit but with huge loss!
Sometime your trades won't be taking into your account and after a disconnection you will find your account with a huge position. I just lost all my money with them and I really hope they're gona pay for all the tricky and dirty things they did, false trades and manipulation of price to put the position on margin call and close it. FXCM alleging fraud and racketeering by the nation's largest Forex dealer. The lawsuit, filed in the United States District Court for the Southern District of New York Manhattan Division , alleges that FXCM has bilked thousands of customers out of hundreds of millions of dollars using deceptive and unfair trade practices, including falsely portraying its Forex trading platform as a fair, transparent and true foreign currency exchange, when instead it is a 'rigged game' designed to systematically separate customers from their money.
The Plaintiff, William H. Sanders, of Muscogee, Oklahoma, brought the action on behalf of himself and all other similarly situated FXCM customers, accusing FXCM of fraud by misrepresenting itself as a trading platform that is free from dealer intervention or manipulation. Instead, Sanders alleges, FXCM uses a number of devices and tricks, including software applications, designed specifically to interfere with customers' trades.
The Complaint further alleges that FXCM engaged in a pattern of racketeering activity by collaborating with its software developers and programmers to develop a 'diabolical' software application that provides FXCM with a myriad of tools and system commands with which to interfere with customers' trades, including routing trades to 'slow' servers and sending false 'error' messages when customers attempt to close out profitable trades.
Finally, Sanders alleges in the Complaint that FXCM lured thousands of customers to its trading platform by promoting a 'demo account' which was touted as providing customers with a true market trading experience. Instead, he claims, once 'live' trading commences, FXCM deploys specially designed software to manipulate customers' trades. Lead Trial Counsel Tucker H. Sanders in this action, which we believe will be an important step in bolstering accountability in an industry that has been largely unregulated since inception.
We believe, as the Complaint alleges, that Forex Capital Markets, LLC has taken advantage of the trust placed in it by its customers, causing substantial financial harm to this group of people, and we are committed to working to recover those losses.
The company recently went public and trades on the New York Stock Exchange. Keep your break even stops at at least 3pips to avoid a disappointment. Relatively good liquidity for news trading. Good customer service and a nice mobile platform.
You can definitely find a better platform for scalping, but for something more long term the combination of the customer service,platform and more or less fair prices makes it a choice for me.
For the past three months I'm trading with them. I haven't withdrawn money yet ; I found them ok. Trading forex is a game I love this broker, it could be some better brokers, but i totaly love it i i will going to do bussnes in future, top execution, low spreads and moset important No dealing desk execution even for micro accounts.
Its defenly my broker, good job FXCM. I had a larger account and closed it about 6 months back due to deteriorating execution, it took me 4 months to get my money back I should of never tried fxcm micro.
I opened a account then when I needed to pull funds they emptied my account and now 16 days latter no check no funds. Cant get a reply through e-mail and they wont handle micro accounts over the phone.
Your review added!
FXCM is a leading online forex trading and CFD broker. Sign up for a risk-free demo account and trade forex 24/5. Forex Capital Markets was founded in in New York, and was one of the early developers of online forex trading. Initially, the firm was called Shalish Capital Markets, but . Forex Capital Markets, Ltd. (FXCM) is a global forex broker that caters to the retail and institutional markets. The Companies that make up the FXCM group of companies (collectively the "FXCM Group") are regulated in the United Kingdom, Australia, France, Germany, and Italy.