Posts Tagged ‘FXCM Reviews’

FXCM Reviews

Saturday, December 19th, 2009

FXCM Reviews

Read Most Recent users Reviews on FXCM – All over the web grabbing.
FXCM.com – 24 hour online forex trading with No Dealing Desk, spreads as low as 1 pip, trading from charts, and live support.


1.1
Soruce: forextopten.com

26 Customer Reviews of “FXCM”
Review by Supra, December 17, 2009

* Overall Rating 11111
* Features 11111
* Support 11111
* Value 11111

1

FXCM totally lacks integrity. I fully agree with Ahmad’s assesment of FXCM’s crooked ways.

If there was minus stars I would award them a MILLION MINUS STARS.

I also have accounts with SAXO and FXDD and they are honourable brokers.
Review by Alex, January 16, 2009

* Overall Rating 44444
* Features Not Rated
* Support Not Rated
* Value Not Rated

1

trade real account with them. I won’t say they are the best, but I am still yet to find a better one. Doing my due diligence on others market makers/dealers, I still can’t a better one other than FXCM.

If you are a reasonable good Forex trader, and intend to trade with them for life, then I think sticking with them and improve on your trading skill and strategies provide a better option than looking around for a better one.

FXCM does change it rules and adapts better than its competitors for its own advantage, but that is normal for its long term survival. If it can not survive over a longer time frame, don’t you think your own survival is even at a greater stake. You certainty don’t want FXCM to be the first to die (or disappear) before all others or you, for you don’t trade for only today but should be trading for life. If you have a vision in trading forex, FXCM will be one of the best amongst the strongest.

Ready yourself and I am certain FXCM won’t disappoint you much. Know your own limitations first, then FXCM’s ones and trade around them. Certainly FXCM is one of my favorites I trade with.
Review by Bruce, November 3, 2008

* Overall Rating 55555
* Features Not Rated
* Support Not Rated
* Value Not Rated

1.3

I’ll be the first to admit that FXCM isn’t perfect. However, I believe they are one of the best brokers of the market. The new platform is outstanding, and since they’re regulated, I believe I’m safe with them.
Review by Rosdy, September 15, 2008

* Overall Rating 44444
* Features Not Rated
* Support Not Rated
* Value Not Rated

1

I’ve been using FXCM for 3 months, even still in a demo account. I feel that the platform is just perfect for my trade later on in live account.
Support staff are fantastic. Great platform for forex traders.
Review by Zee Zee, July 30, 2008

* Overall Rating 44444
* Features Not Rated
* Support Not Rated
* Value Not Rated

1

I’ve been with FXCM for about a month now (3 months including demo time). I can’t say they are too bad. You can’t judge a broker depending on YOUR trading performance. For those who think they are manipulating you, you should check other charting programs. It happened to me, I’ve been spiked out, THESE ARE CALLED WHIPSAWS, IF U KNOW ANYTHING ABOUT FX YOU WOULD KNOW THAT. It happens a lot, if your stop is too tight u will be caught by them. I have made money and lost money with FXCM, losing is something YOU HAVE TO BE PREPARED FOR!!!! IT’S INEVITABLE! All I can say is FXCM seems to be one of the most legit ones. They tell u THEY DON’T TRADE AGAINST THEIR CLIENTS, they have no reason to lie. There is BIG MONEY IN SPREADS, ESPECIALLY IF YOUR TRADING 100K ACCOUNTS like me. Their customer support is outstanding. The courses are great, feedback is standard all the time. I suggest you study more. The only thing I can complain about is their charting, it can see improvement. But that’s not too much of an issue. PS: slippage is normal.
Review by Tinman, July 12, 2008

* Overall Rating 55555
* Features Not Rated
* Support Not Rated
* Value Not Rated

1.3

So far so good. The best program and people to deal with. Whiners are usually not winners. Suck it up and learn your FX!
Review by Ahmad, July 6, 2008

* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.3

Sorry to say they are very bad broker with respect to all who told they are good I think they are from FXCM or don’t trade in FXCM.
In news, of course, they are robbers, they are delaying your order until get the worst price for you then they will fill it after 30 seconds which is long time; second thing, they are liars and I think somebody should take a snapshot when enter a position with stop and limit prices because they are changing the price of closing in stop price specially, and guess what I saw this happened when you are not connected to the internet and you closed their program they are monitoring this and playing their game, and even with no news they are playing games and change your stop price and even limits. They are not filling it sometimes and they will wait until the price is gone but for stop sure they will fill it and close it within a second but limit you have to pray to close your position and if you are not online and monitoring the trade they will play games and when you call them they will tell you there is no liquidity so your order was not filled. They are liars because 1 time it went above the price 8 PIPS and for 8 seconds ( which is long in FOREX world ) and still not closed I called them they told same reason no liquidity they are big cheaters 8 seconds no liquidity and in the moving hours it is impossible. I will not give them even 1 star, even their platform is freezing all the time and not properly updating specially in your traded pair. You will find all pairs are updating OK but your traded pair is either freezing or not proper prices sometimes and for few minutes sell prices is more than buy ( can you believe it ) and this only happens with your trading pair which is proving they are playing in the prices. SORRY FOR LONG BUT THIS IS REAL COMMENT NOT FAKE.
Review by FX_Trader_, May 31, 2008

* Overall Rating 33333
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.8

I have been trading with FXCM For quite some time now (4 months). I am a real account user (not demo) I make money with them and have no problems trading with them.

Stops hunting is something that happens in the market and is not limited to FXCM. Many reviews posted here are bunk. Stop hunting happens to traders who use STOPS incorrectly! Don’t blame that on the broker, YOU placed the stop order… The broker is executing your order…. GOT IT?

Now as far as a broker they are the same as any other with a few caveats to be aware of.

1: Pip spread fluctuations – Their spreads always get larger in news times.
2: some of the BIGGEST spreads in the business – sure you can trade EUR/USD for a spread of 2pips but try trading GBP/CAD which can be as high as 22, or try GBP/NZD for as high as 24!!!! That’s a problem for many… Just not a problem for me as I am a trader who does is homework!
3: When I began trading with them the execution was pretty fair – now they do not guarantee a no slippage execution- this has lowered my opinion somewhat, just not enough to stop me from trading with them. I make money from them so what is everyone else griping about? trading is not about the news alone and if that’s the way you trade and if you are losing at it… maybe you should change your trading strategy
4: This is the biggest one for me….. Only 12 pairs are able to be traded at any one time – The platform is good but I need more than only 12 pairs… even this does not stop me from trading with them… I trade with them every single day the markets are open!

The good points about this broker are:

1: They are technically very good and solid as far as reliability and stable trading environment, but if left open for to long it will get glichy and stop responding to your clicks. This is not a biggie and will happen to almost any platform – restart the program.
2: FXCM does offer some trading pairs that I do not see on other platforms / brokers. GBP/NZD for example. some of these rare pairs carry the big spreads.
3: The interface is very nice easy to read and use, it comes with a large host of excellent plotting and charting tools. there are only a few missing such as fibo fans and circles but this should never be a set back for any trader who is worth a dollar.
4: The reporting function is excellent as it lists every single trade you have ever done! Just select a time frame or choose to report on your account since the day it was opened. Very awesome and very convenient. This makes tracking your trades very accommodating.
5: They are NFA regulated. This is not just a moniker like the Better Business Bureau it is a good thing. You at least have the opportunity to complain to the NFA should you experience fraudulent behaviors and treatment.

All in all I like FXCM but I would not rate them as the best or anything like that. They are a broker who does their job, they are based in New York, they have an address and phone numbers and people manning the towers, I have had all of my questions and even some complaints taken care of by genuine people who are actually interested in you making money. If i felt they ripped me off I can at least show up at their office and knock on their door. This is important to me as a trader. Who the heck wants to fly to Cyprus or Israel or the British Virgin Islands to file a complaint?

To comment on a few other that say “they play the market against you” I say this:
You are an amateur and probably shouldn’t be trading forex at all, EVERYONE trades against you that is what the market is. If you were a real trader why would it matter if they did trade against you? They certainly don’t have enough money to move the forex market so quit being a wanker and go out and learn how to trade properly!

One final thing their charts and indicators do not show the wrong stuff!!!! You’re probably not a very good trader!!! I trade with FXCM and I use a plethora of other charting software and what you see on FXCM charts is what you see on other charts. This is forex not some online poker site buddy!
Review by Warren, May 1, 2008

* Overall Rating 22222
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.5

Good technology and security. Trading on the news with them is a nightmare.
Review by Van, April 9, 2008

* Overall Rating 44444
* Features Not Rated
* Support Not Rated
* Value Not Rated

1

I’m using the FXCM demo account and I’m delighted with the platform, info and customer support they offer. I even took one of their courses but unfortunately these courses aren’t much helpful.
Review by George, February 28, 2008

* Overall Rating 22222
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.5

The fractional spreads are a good improvement. Unfortunately, the slippage during volatility continues to be a tradition on FXCM.
Review by Tom, February 11, 2008

* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.3

FXCM customer support goes from extremely good to extremely bad. When they’re trying to sell you something (usually a course) or trying to convince you to open a real account, they are all nice and helpfully. When you’re a customer and suffer a slippage that affects you, they kick you out of the chatroom. That’s not honesty.
Review by Lawrence, January 27, 2008

* Overall Rating 33333
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.8

FXCM is probably one of the most secure forex brokers. Execution fills are bad (during volatility), the trading platform is good and the customer support is average.
Review by Richard, January 9, 2008

* Overall Rating 55555
* Features Not Rated
* Support Not Rated
* Value Not Rated

1.3

One of the safest brokers to use. With so many scams on Forex I can’t even understand why people open accounts in offshore brokers. FXCM is regulated. I also love the platform and support staff.
Review by Mallory, December 12, 2007

* Overall Rating 44444
* Features Not Rated
* Support Not Rated
* Value Not Rated

1

IMO FXCM is a safe broker. The support team is good and the spreads and executions are decent.
Review by Zack, November 30, 2007

* Overall Rating 55555
* Features Not Rated
* Support Not Rated
* Value Not Rated

1.3

It seems everywhere I go I see bad reviews about FXCM. It seems people lose money because they don’t know how to trade and decide to blame their broker. FXCM execution during news is not good. No question about it. However, there’s no broker on the market that can guarantee fills during high volatility periods. At least, FXCM is a safe and regulated broker. Most of their competitors can’t say the same. Besides this, they offer plenty of information, charts and a good trading platform for free. And the customer support is one of the best in the market.
Review by Peter, November 12, 2007

* Overall Rating 44444
* Features Not Rated
* Support Not Rated
* Value Not Rated

1

FXCM is much better than they used to be. They no longer trade against their customers and they probably are one of the safest brokers to open a real account.
Review by Thomas, October 28, 2007

* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.3

I had bad experiences with FXCM, and reading other people’s comments I realized I wasn’t the only FXCM victim. They manipulate prices, they execute limit orders as they were market orders (with huge slippage) and they won’t be there to solve your problems. If I could I would give them zero stars.
Review by Chuck, October 25, 2007

* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.3

When I used the demo account I was delighted with FXCM. When I opened a real account I found out the real FXCM. Execution is terrible and when you have any serious problem and visit the support department chat, they kick you out of the chat room.
Review by Barry, October 18, 2007

* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.3

Trade with them at your own risk! FXCM trades against you and they will only stop when you lose all the money on your account!
Review by William, October 5, 2007

* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.3

Their “trading signals” appear to be always wrong. The trading platform is great but that doesn’t help much when they don’t execute orders during high volatility periods.
Review by Paul Yard, September 17, 2007

* Overall Rating 33333
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.8

They have a good platform, good tools and good customer support. The bad thing about FXCM is the execution, which makes your job much harder.
Review by Tim Brown, September 11, 2007

* Overall Rating 22222
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.5

If you’re just starting on forex, you can use FXCM, if you don’t trade during news. The problem is this: without news, there’s not much volatility, and when the news come out, FXCM can’t fill them, so they get useless. I don’t give 1 star because FXCM can be useful for beginners. But for everyone else, FXCM is not a good choice.
Review by Jason T., September 4, 2007

* Overall Rating 55555
* Features Not Rated
* Support Not Rated
* Value Not Rated

1.3

I’m new to forex, and just opened an account with FXCM. So far I’m happy with them, specially with their support staff.
Review by Herbert J., August 30, 2007

* Overall Rating 33333
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.8

They are a good broker for beginners. Good tools, spreads and even education. The only bad thing about FXCM is that once in awhile, it seems the price moves in their platform, just to hit your stop loss, and then, reverses and moves on the direction of the trade. If it’s not manipulation, at least it seems.
Review by Frederick M., August 28, 2007

* Overall Rating 11111
* Features Not Rated
* Support Not Rated
* Value Not Rated

0.3

Trade on the news with FXCM, and they will eat you alive! Contact the support team when you feel they have robbed you, and they will kick you out of the chat room. Don’t even think in using these guys!

———————————————————————————
1.2 Objective Reviews of users -
Sources: www.goforex.net

Unstable platform (3rd party Boston Tech.) Looses connection at all times, news and low volatility. Support does not return email’s.
- Reviewed by bcfx, December 11, 2009. Rating = 2/10
I am very pleased with them, trading for several years now. I will stay with them. I rated 9 because there is always room for improvement: news feeds, contingent orders.
- Reviewed by radu62s, October 30, 2009. Rating = 9/10
I had a 30K account with them and was happy for several months until they moved all their Metatrader 4 to the UK and forced me to go to the BostonTech Bridged MT4. From there it went downhill and BostonTech is buggy as heck, and I would have to call them every other day to complain about trades that either didn’t close in time (1 trade was 9 minutes late after hitting T/P) or they would give me a situation that was beyond their control. I had a trade that I had T/P at 30 pips, and it never closed on the EUR/USD, and two minutes later it was up about 70pips, and I tried manually closing it, and simply wouldn’t close. The trade then automatically closed me with only 18pips!! I was outraged, and called them and they compensated me about 45 pips in return. Their services are good, but I suggest you to avoid their MT4 with Bostontech if you are doing high volumn until they fix all their problems.
- Reviewed by JT, July 16, 2009. Rating = 7/10
Losing money start moving me to NDD. Suspect lot of SL Hunting activities. Spreads for USD/GBP, USD/NZD are very high.
- Reviewed by M, June 21, 2009. Rating = 4/10

Rate & Review This Broker
2009/10 FXCM No Dealing Desk Ratings
More Broker Reviews

2008/09 FXCM Reviews
FXCM No Dealing Desk (NDD) Forex Reviews

Spreads are/get ridiculously wide. The last time I created an entry order for euro/US, it entered me with a -5 pip slide. Add this to a 6 pip spread. It was just crazy. While group trading today shorting the US/CAN I got stopped out@1.29405 (FXCM chart showed a high of 1.29398) yet the 3 different chart feeds i was using, gave a high of 1.2932. This was a consistant price range for the rest of the group.(give or take a pip) The rest of the group went on to a profitable trade. I got to watch from the side line.
- Reviewed by Waltec, March 3, 2009. Rating = 6/10
Wide spreads, always pricing away 2-3 pips more expensive than other brokers. Lets not forget this is the daughter of the late Refco ! The company that got more than 300 regulatory actions from NFA & CFTC.
- Reviewed by ForeXPP, December 3, 2008. Rating = 1/10
No Dealing Desk?? sometimes possibly. Have had an account for a few years with FXCM. last six months have traded Asian session a couple times and after entering the market watched the spread to go up to 10 or more on the GBP/USD. Recently, had a spread of 8 but was in 10 pips of profit (standard account) set a stop at break even and stepped away for about 2 min. came back and was closed out @ -15 pips. MY charts showed no more then 1 pip movement (dialed it down to a 1 min chart). Their excuse was that the stop order was hit and the order slipped 15 pips due to low liquidity at that time of day. (11:00PM ET) Again… No Dealing Desk? mmmmmm.
- Reviewed by Mikey, November 13, 2008. Rating = 3/10
GBP/USD Spread reached to 22 pips or more, who can trade FOREX with this type of deal!!?? Guys who are happy with FXCM they are the FXCM staff which they put their reviews here only, no trader is happy from FXCM even the profitable trader, and fooling people when asking them real questions about their weaknesses and give you million reasons for 1 question, just try and ask them any question in different times and see the answers, funny.
- Reviewed by Ali, October 27, 2008. Rating = 1/10
I’ve trading for about 3yrs with them started with 100k account made avg of $500-1200 a day then the calls started comming in to come in and trade at their NYC location and they would match my account told them I’m flattered but no thanks then ask me to test beta charts for them I did then made biggest mistake ever started losing serious $$$ then quit chart testing made some $$$ 23 straight profitable trade, again then here come the frezze ups and falling short of my limits being hit to close lots. Lot of reversal having to stay with trade longer which changed my strategy started to hedge and stops and revesal went wild no execution, order can’t be filled spikes chart not showing the same so I started taping my stops and limits caught them a few times did the print out thing and they gave the me so call courtesy thing never traded with another firm but friends have, customer service is ok but some unsatified feelings and lost $$$ and not peanuts lost $17k in 24hr while hedgeing unbalanced match I know I didn’t trade 100K vs 50K mysterious still today …. I say just be fully aware!!!!!!!!!!
- Reviewed by Malik, October 16, 2008. Rating = 6/10
FXCM has been fantastic so far. I have used FX Solutions, MB trading, and forex.com. They are before the best. Their platform is way more intuitive then the rest of these. Their customer service is topnotch. One of their agents even called me and asked me if their was anyway they could help me with my trading. I told them my biggest issue was managing risk and then sent me some free information with tips on such. I feel that with their separate news website, customer service, and classes they are doing everything they can to make successful traders. Who doesn’t want a broker like that?
- Reviewed by classyguy83, October 7, 2008. Rating = 10/10
Some orders are filled good. However THEY HAVE A DEALING DESK now. Also, even we they didn’t the banks they clear through do. Best marketing lie ever. NFA is starting to hammer down on this.
- Reviewed by Leroy, September 6, 2008. Rating = 3/10
I watch my stops being executed 2-3 pips away, even when the quotes/chart never get closer than 2-3 pips from the stop. The price I get is the price for the ordered stop, the difference is in fxcms pocket I guess, is that Fraud?? I’m moving on.
- Reviewed by will change, August 27, 2008. Rating = 3/10
I like FXCM a lot. They allow hedging and they have a FXCM micro website that allows small account sizes. Very happy and highly recommended.
- Reviewed by pixiehobbit, August 14, 2008. Rating = 10/10
I really think they are the best out there. Minor issues during news but the market swings a lot then. They are the first brokers I made money with.
- Reviewed by bonzo, July 22, 2008. Rating = 9/10
People complain on reviews about losing their trades. Let’s be smart guys and gals, the majority of people lose money in the fx market. You can’t just open an account and expect to make money. Spend time trading a practice account and actually learn about techs and fundamentals. Learn to use them together and make money instead of blaming your loss on FXCM. FXCM does a great job and has good customer service!
- Reviewed by Jamison, July 19, 2008. Rating = 9/10
All live account quotes suspended during news sessions, but live quotes hided! Creating DUAL quotes! FXCM will selectively execute those quotes against your interest! FXCM violates the true nature of Forex Markets!
- Reviewed by FXCM Scam, July 7, 2008. Rating = 1/10
Awesome!
- Reviewed by 12, June 30, 2008. Rating = 10/10

Rate & Review This Broker
2008/09 FXCM No Dealing Desk Ratings
More Broker Reviews

2007/08 FXCM Reviews
FXCM No Dealing Desk (NDD) Forex Reviews

I wish to make known the dishonest practices of “FXCM”, the currency trading brokerage. I had a small “mini account” of about $500. On April 16,2008, @ about 8:50 AM EST, I shorted 1 lot GBP/USD. This trade was placed shortly after a news release, which after the usual initial volatility would have been a great short to ride down. After some upside retracement, followed by positive downside movement, which took more than 10 minutes, I placed a “stop/limit” order @ 1.97858, just above the last lower high on the minute chart. The GBP/USD was moving to the downside when I went back to bed (I live on the West coast). When I came back about 25 minutes later, my position was closed out. However, looking at the same minute chart, the GBP/USD AT NO TIME CAME CLOSE TO MY STOP/LIMIT ORDER. I called “FXCM” and the broker LIED and claimed I was stopped out 4 minutes after I entered the trade. I have asked “FXCM” for records for that day and they do not comply. Later that day, when I had cooled down, another person @ “FXCM” whose name is “Mike”, listened to me and said he would get back to me with more information. He never did. To which, I must conclude that “FXCM” is a crooked boiler room bunch of slimeballs, who have no compunction about ripping off the “little guy” trying to reach a part of the American dream. GODDAMN FXCM!!!
- Reviewed by mr jimmy, April 22, 2008. Rating = 1/10
No problems so far.
- Reviewed by Chris, April 11, 2008. Rating = 10/10
Fast execution and good customer service, reasonable spread. The only advice, don’t trade news it will eat up your money.
- Reviewed by matfx, March 29, 2008. Rating = 8/10
Meant to be the market leaders but upon opening an account could not get any service from them. Price slippage and spreads that change on a regular basis. I dont trust these guys.
- Reviewed by FX Guru, February 25, 2008. Rating = 1/10
I have opened a mini account with these guys. Trading FX for a while now and no matter what broker I try I always start with a low deposit mini to see how good they are…Ya their customer service is good but I hate not being able to trade on the weekends!!!! Weekends add up to a huge pile of cash for me so that is a big MINUS! 24/7 does not apply here yet on their informations it’s 24/7 all over the pages!!!

Spreads are lousy and I can’t stand the fluctuating spreads either. It seems that when I enter a trade with a spread of say 4 that spread still fluctuates when I go to sell it?? hmmm…. I wonder some of the spreads are 20pips high!!!! That is crazy!!!

All in all not too bad but the no activity on weekends is just the killer… I HATE THAT!!! I hate even more the fact that they don’t tell you this anywhere during signing up!!!

Cheers
- Reviewed by chicomangh, January 28, 2008. Rating = 4/10
You know, when someone tries something and loses money at it, it’s easy to post a complaint and call the company a scammer… but let’s be real here… If these guys were scammers, they would be posted all over the media and also be shut down within seconds… The truth is, if you don’t do your due diligence, and you invest your money “THINKING YOU KNOW IT ALL”, and you lose… you’re going to leave a bad mark for this company… but you’re the one that lost your money and you know it. I am not associated with this company other than I opened an account, lost some money, then studied the numbers and made my money back. We all know there is money to be made here, but if you buy or sell at the wrong time THINKING ITS THE RIGHT TIME… why are you calling this company a scam? HECK, they are on TV. They have agencies monitoring their every move and they are well known throughout the states. So quit being so sore hearted because you lost a buck or two… or even a thousand or more. It’s your fault and you know it. This company has made millionaires and billionaires out of people that just started with a couple hundred dollars… so stop with your hate lashes because you made a wrong decision. This company will make you money just as fast as it will lose you money. It’s all up to you. They are only a middle man that takes a small percent out of each transaction for letting you use their platform software.

If I made alot of money from this company I could praise it over and over again all over these boards… and on the other hand, if I lost alot of money using this companies platform I could talk the company down over and over again all over these boards… so if your planning to invest in this company, I’d say, learn how to trade first, then when your comfortable, invest and make money. DONT spill your money into trading thinking its easy!!! Heck, people have been studying this market for years and years and maybe even before you were born… Don’t think you can walk into this knowing everything right away. You will lose your a**. Get real. Get out of fantasy land, and learn this art before you blow all the money you worked all your life for. I lost $25,000 in one evening when I first started because I thought I knew it all right away… Then after that wake-up call, I studied and learned how to make money right. Don’t make the same mistake I did. Study it first. Take as many courses as you can and practice as long as you can until you know it like you know your brother, sister, mother, or father. ONLY INVEST when you truly know what you are doing. Otherwise you are going to lose everything in ignorance and you will be a victim of making the rich richer because they know what they are doing. People will easily post complaints but not many people will face their faults.
- Reviewed by just a guy, January 6, 2008. Rating = 10/10
You read a lot of rubbish about fxcm, but I have never had a problem. Great cust service, decent spreads and good execution. I have set slippage to 1 pip, and 90% time get filled at order price. I’m in UK, and they seem to be very regulated, also now with new regulations. I would vouch for them, but not to trade the news.
- Reviewed by shingles, November 5, 2007. Rating = 8/10
No problems encountered. Good customer service and execution.
- Reviewed by terminex, October 24, 2007. Rating = 10/10
These people are really trying to get there **** together assuring people there not on the nfa’s black list. The crack house of forex if you ask me! Although its possible to hedge here at the price of a buy or sell. Don’t forget the positive and negative roll though when you go into an investment here you could lose out on this part. Poor leverage both on investments and charting. But, great ideas none the less!
- Reviewed by rainbowconceptions, October 13, 2007. Rating = 6/10
Worst euro/dollar pip spread out there!
- Reviewed by carrija, August 18, 2007. Rating = 1/10
They are bad but better than before with the No dealing desk. Spread is big. But I made big money with them. So I like FXCM. Compared with Interactivebrokers(IB), FXCM is worse. But I always lost money with IB, bcs they have too many things to trade. At FXCM, currency is only thing you can trade.
- Reviewed by od, August 7, 2007. Rating = 10/10
Great experience with these guys. I would definitely recommend them to anyone who trades. Many of my friends also trade forex through them and they too are all happy.
- Reviewed by NJ, July 28, 2007. Rating = 10/10
I opened an account here in the UK about a year ago and am very happy at this time. They just told me that my account is now segregated which is nice. I also really like the new improvements they have made over the last year even though they definitely had some rough patches earlier in the year. I definitely considered going with another broker but none of them offer the same amount of security in terms of regulation. Some of my mates also trade with them and they seem to have had a similar experience.
- Reviewed by Trevor, June 21, 2007. Rating = 8/10
The spreads on this are ok, some slippage does occur but it is normal for some of the market conditions I have traded in. I love their Gold Client customer service and that is one big reason why I won’t consider someone else.
- Reviewed by Jessica, June 13, 2007. Rating = 7/10
Excellent broker. Have been with them for many years and am very happy with the results. I moved to no dealing desk last year and although I had some small problems at the beginning, their execution has been good since then. Good spreads and I have heard they are making more improvements on their system very soon.
- Reviewed by Max, May 22, 2007. Rating = 10/10
Well I have had accounts with Man Financial in Canada and FXCM for a number of years; both utilizing same platforms and entry/execution. NDD is no dealing desk platform – fairly new; no intervention of trading basically. I trade news 90% of the time with trigger software. I have been able to get in certain news spikes with NDD though I do have to increase the ‘at market’ deviation in order to broaden my chance of entry at these volatile times. Say eur/usd is 1.3500 just before US ISM, I allow at market to be 14 which means if the result comes out with big spike I can get in 1.3514 or 1.3486. It does get you in at times, though also not at others. No one click execution which is set back. Easy to use platform and not overly complicated. No broker is perfect; worth a try with these guys. Good, polite customer service.
- Reviewed by Andy, May 21, 2007. Rating = 5/10
Market Orders sucks when the market is volatile or during important news time. Lot of slips on the entry order during the news. I used to like them when the order goes through their dealing desk.
- Reviewed by Pratap, May 20, 2007. Rating = 3/10
Had a great experience in the year I have been with them…couple of issues while trading news but I read on their forum they have something in the pipeline to fix even the small issues still left…Based on their service, free resources, etc I still think these guys deserve a 10!
- Reviewed by Charles, May 19, 2007. Rating = 10/10
I tried these guys about the same time I started trading with other brokers…at first I liked their service a lot but I was not happy with their execution. They put me on the no dealing desk station and it didn’t really work but they told me it would get better. Since the past 2 months it has been really good. Liquidity seems to be greater, slips smaller and I like that the spreads are tighter on a lot of pairs than they used to be. If they keep going like this, I may begin to trade with them exclusively.
- Reviewed by TSC, May 11, 2007. Rating = 8/10
I will not use it any more!!!
- Reviewed by Hisham, May 6, 2007. Rating = 1/10
Used for robotic trading. Wide stops and limits. Good fills and reasonable spreads using the Non Dealing desk.
- Reviewed by hafnium, May 3, 2007. Rating = 10/10

Note: As of July 5, 2007, 99% of all FXCM clients are trading on the no dealing desk trading platform.

Rate & Review This Broker
2007/08 FXCM No Dealing Desk Ratings
More Broker Reviews

Never had any problems with execution. Trading platform very easy to use. But the spreads are too high and they trade against you.
- Reviewed by VT, May 26, 2007. Rating = 8/10
Nice people. Execution slow. Stops are guidelines…Here is a conversation with the help desk…

FXCM)9: Welcome to FXCM’s Live Chat ?
greg .: I am watching the dealing rates change. It is 15:51 cental standard time. The close price is above my stop price on a sell position, but my order did not stop out. What is happening?
FXCM)9: We’re updating the prices currently for when the market opens.
greg .: Also, on my intellechart, the time is updating, but the actual prices are not reflected on the chart.
greg .: It looks to me that the market is open, but FXCM is not. Are you going to honor my stop price?
FXCM)9: Your stop is subject to the next best available price.
greg .: THen you do not honor stop prices!
FXCM)9: I didn’t say that.
FXCM)9: that’s worse-case scenario
FXCM)9: we want to honor that stop if we can, but if the market doesn’t trade there,
FXCM)9: we have no choice
greg .: I was just stopped out 7 pips higher than my stop price.
greg .: It appears that the market opens at 3 PM central time and you open at 4 PM central time. Is this accurate?
FXCM)9: FXCM officially opens at 4PM Central.
FXCM)9: before that, yes, you will see the prices update to any change over the weekend
greg .: Do you know what time the market opens world wide? Or who is placing orders before FXCM officially opens?
FXCM)9: when you see that it is large banks trading amongst themselves internationally or it is like when stocks gap up or down
FXCM)9: there is news in the market that has caused a bias one way or another
FXCM)9: it’s not FXCM, we wish we had that kind of pull but we do not
FXCM)9: we move where they move
greg .: Are the large banks trading on the weekend when the market is closed?
FXCM)9: I don’t know. They don’t disclose that.
greg .: Would you suggest trying to close out postions before the weekend for a short term trader?
FXCM)9: Yes, or don’t use stops over the weekend to be perfectly frank with you.
greg .: Thanks for your time.
- Reviewed by Greg, May 7, 2007. Rating = 6/10
Trading terms are the worst. Their trading advice is even worse.
- Reviewed by GeorgEverett, May 3, 2007. Rating = 1/10

Rate & Review This Broker
2007/08 FXCM Ratings
More Broker Reviews

2006/07 FXCM Reviews

Basic experience…not good not bad.
- Reviewed by JimFX, April 17, 2007. Rating = 5/10
Hi, I had been trading with FXCM for a while back and always noticed my stops being hit, and waiting for dealing desk messages also.

Long story short I went back with them when I found out there is no dealing desk execution.

After placing a couple of succesful trades, on one of trade my limit got moved UP 100 pips and was hence stopped out 3hours later. I was told that that is how I entered it, but since I ALWAYS use 10 pip limit that is highly unlikely. There is also no way to manually view this with their system, unlike Oanda, and you have to request a special report from their help desk which is the only proof they will accept of the trade.

I plan trade until they pull this again, hopefully more than once, so I can take some screenshots of the before, and print them out. Hopefully I can prove in a court of law with a digital image expert’s witness testimony that the screenshot, after being analyzed by special software, is a non manipulated digital image. I feel this is the ONLY way that you can prove your limit, since FXCM leaves no other way for the user to keep track of it. A printout probably wouldn’t hold up in court as much since it could be more easily faked, but I will still have one to match every entry order.

Stops and limits for orders aren’t even in the reports.

Stay away from these guys, I am only trading with them until I amass enough evidence to take them to court, on entry order manipulation.
- Reviewed by groovur, April 4, 2007. Rating = 1/10
Takes Long Time and Very Difficult to withdraw money. Thumbs Down!
- Reviewed by disappointed, March 31, 2007. Rating = 1/10
FXCM doesn’t want professional traders. Their trading station is so lousy and they keep it like this to keep professionals off their way. They are looking only for beginners and the easy to fool.
- Reviewed by Omar, March 30, 2007. Rating = 1/10
Great for beginners, as they truly hold your hand and patiently answer every question, however serious and professional traders will find their plaforms and spreads highly limiting.
- Reviewed by Andrei, March 23, 2007. Rating = 2/10
Their no dealer trade station just SUCKS. You can not sell or buy while the market is moving. It keeps giving errors that the market has already moved. Sh*t!!! They call it inter-bank rates. They used to be good. Not any more.
- Reviewed by T Henkley, March 16, 2007. Rating = 1/10
Horrible trading platform especially during the news. Prices regularly off from other services.
- Reviewed by tathlynq, March 12, 2007. Rating = 2/10
Average broker. It’s tough avoiding slippage with any trading system.
- Reviewed by Mike, February 23, 2007. Rating = 7/10
WATCH OUT. This company is pretty bad. They make money from their clients loss. Trust me on this. The currency industry is not regulated. If you like to try, buy 100K pairs and see what happens to you stop loss.
- Reviewed by John K, February 14, 2007. Rating = 1/10
I really can’t say anything bad about them. I am trading the no dealing desk platform and even if something goes wrong with it, they can always take care of it and help me out. Awesome service. True 24/7 support with real people.
- Reviewed by Leena, January 29, 2007. Rating = 10/10
A below average broker. Poor trade execution.
- Reviewed by Clemt, January 21, 2007. Rating = 3/10
FXCM rips off their clients money. They always go opposite to the news and execute their limits. Their no dealer trading station just sucks. The only way is to lose your money with them. It is a big scam.
- Reviewed by Debbie, December 21, 2006. Rating = 1/10
I’ve traded for over 2 years w FXCM and I’ve to agree that since past 6 months, they have stopped offering the same level of service (i.e. instantaneous execution, no slippage in all markets).

No dealing desk option is no better…it freezes as well. The limit orders show executed, but won’t allow closure till the market settles down (which makes scalping impossible).

I was thinking of opening the PropFX acct, but have now decided to try other brokers…two in my mind..SaxoBank and Oanda..will keep you folks posted…
- Reviewed by Maratha, December 19, 2006. Rating = 2/10
The FXCM dealer is a bunch of people who are mobs with high tech. I have lost $15K with them. Every time I have limit, it get executed and then the market reverse the other way. I have been with them for over two years now. I have tried others and they are much better. I can make money now.
- Reviewed by Rami, December 18, 2006. Rating = 1/10
Almost a year w/them. Using a MINI acct. Small equity so perhaps that’s why I don’t seem to experience the bad stuff larger acct holders have been reporting. That being said, so far execution is solid for Entry Orders (which are orders you program ahead of time to be executed when the price hits your entry point). Manual entry, that is, Market Orders, that can get a little dicey when the market becomes more volatile. W/ a volatile market I find it next to impossible to enter an order manually b/c of the lag involved due to internet and heavy server traffic once a currency starts to rocket. All stops, limits, always executed. Haven’t got any nasty spikes yet to take out my stops. Definitely no slippage and that in itself is great. Spreads could be better. No hedging, unless you have 2 accts (on 1 acct you go long, and on the other short). Excellent news feed.

HOWEVER: recently I started noticing some weird platform behavior: it would freeze at crucial moments and I wouldn’t be able to exit a trade (for ex. just when the price falls short of a limit and starts reversing, at which point you want to close the trade ASAP to lock in your profit, especially if your stop loss is too wide). But if the UI freezes (and it did it for at least 2 mins), then guess what? I lost money on a trade that was very profitable.

It is true though that cust. serv. is excellent.

Now I am waiting to see what will happen once I move to a REGULAR acct and start making 5-digit profits on a regular basis. Will they manipulate the spread? the stops? play against my position? etc… if it happens I’ll come back and let you guys know. Godspeed all! and may the grand Nagus be w/ you!
- Reviewed by a_smith, December 1, 2006. Rating = 7/10
I’m a regular tech trader. I don’t scalp, I don’t trade news. FXCM put me on some kind of platform that eats away about 5 pips from my entry orders, in the beginning it wasn’t like that…After 2 months of trading with them they’ve put me on this “no dealing desk” platform, and EVERY single entry/stop order slips 5 to 10 pips…never happened with a limit order :) ridiculous
- Reviewed by peter_m, December 1, 2006. Rating = 1/10
I have accounts with a lot of different brokers in this market, and i have to admit that as far as service goes, I think these guys are the best. I have traded long enough in other markets to know that slippage is part of trading, and it does not happen as often here as it does with other brokers. The platform is relatively easy to use, although I would like some additional features with regards to charts, but overall, right now I think they are probably the best in the group.
- Reviewed by Cuso, November 29, 2006. Rating = 9/10
Slippage all the time.
- Reviewed by Chris, November 24, 2006. Rating = 3/10
I’ve tried multiple brokers, but FXCM was by far the most professional. Their 24 hour support staff is very knowledgeable and you get the feeling that their people actually know what they are talking about. Everything is very easy to use and I really haven’t had any problems. The 1 time I had an issue with execution, their audit team looked into it right away and made a good faith adjustment. I highly recommend this broker.
- Reviewed by jasonkd, November 22, 2006. Rating = 10/10
I have had accounts with a few FX dealers. FXCM has provided good service and support for my carry trading account (Great rollover rates). Only recently I moved my more active account, which I had at Oanda, back to FXCM. I have always used this account primarily for scalping and news trading, which became impossible first at FXCM then at Oanda. I decided to try FXCM’s no dealing desk platform out and have been pleasently surprised so far. It has good spreads during news, no dealer confirmation, no order restrictions and anonymous stops.
- Reviewed by Rufus, November 21, 2006. Rating = 8/10
It is bad.
- Reviewed by Tom, November 16, 2006. Rating = 1/10
I have been trading with FXCM since March and have never had any problems. Most of these people are not real traders and don’t understand how a market works so they just come and complain everytime there stop gets taken out and then the market reverses. Learn the market before you complain. FXCM’s customer service is awesome too. Take it from an experienced trader who knows the difference between and market maker and a broker, FXCM’s service is second to none. And if you are a prof. trader like me they have a special platform that is geared towards your needs. Just ask them about their pro trader platform.
- Reviewed by FXTrader, November 11, 2006. Rating = 10/10
I have been with them for just over a year losing more than I make, I finally change the way I trade and started making profits then FXCM decided to change my account without informing me and when I called them to change it back they said they can’t. Everything is wrong with them slippage, freezing, time wasting when you call the helpdesk and every other manipulative method to run you down. 0/10
- Reviewed by kay, November 9, 2006. Rating = 1/10
Trading with them has been great. Great customer service and spreads have held.
- Reviewed by ADAR, November 6, 2006. Rating = 10/10
One of the best companies out there. Tight spreads, excellent platform, great staff. The platform as well as the news features and charts are very user friendly. Everything is very easy to understand like reports and the platform.
- Reviewed by euroswiss2003, October 27, 2006. Rating = 10/10
They tell you one thing and do the complete opposite. As soon as the market gets busy their system is useless, they go after your stops all the time which should be against the law. You all know that read this board that we have been taken in the forex market. It would be nice if we got kissed before we got f-ed. I closed my acc!
- Reviewed by snook, October 19, 2006. Rating = 1/10
Meant to be a worldclass company, absolutely nonsense, I asked to transfer funds back to the UK 2 MONTHS AGO!! Still no funds their excuse was that they will now have to recall my funds back to their account in the USA which will take another month and then try and send them again. Whatever you do, do not have FXCM as your broker as their staff are just idiots!!
- Reviewed by buddyboy, October 19, 2006. Rating = 1/10
Appear to: 1. spike stops and limits; 2. trade against the client, even based on liquidating the client’s account of funds and then the client’s currency pair suddenly ‘reverses direction (i.e. a margin call to close out clients and then the market ‘magically’ reverses; closes or locks accounts without notice or without any adequate explanation, with the most likely explanation that a client was beginning to move from unprofitability to profitability’.
- Reviewed by ewriter, October 12, 2006. Rating = 1/10
Poor overall platform and obnoxious people to deal with.
- Reviewed by dly, October 4, 2006. Rating = 1/10
Was recommended to this broker by a well known 4X speaker on TV who gave a conference in my city. The spreads are horrible, the execution and slippage will cause you to lose money, AND the suggested trades provided I wouldn’t trade for my dog. Just spoke with another trader two weeks ago who had a similiar experience. Have to be honest on this one….RUN!
- Reviewed by Stiletto3, October 3, 2006. Rating = 1/10
I was making 100% on my capital in less than a year of trading. I mainly used scalping techniques, until they manipulated my trades way off the rates I see on their screen. When I called them up they put it back on. After a while, all my stop losses got hit with spikes. I realised they were aiming for my stops, and closed my accounts.
- Reviewed by Ned, September 26, 2006. Rating = 1/10
After 3 month of trading I began to have a message “Waiting for dealer answer” then a reqoute and usually this requote is not existing in the market yet. I closed my account with them after they recommend Propfx platform with min. $10000 deposit.
- Reviewed by Mr. Trader, August 23, 2006. Rating = 1/10
I know newcomers may not get my point but please please do not waste your money here. Even if others are bad, then better than the WORST! I can’t explain the details…& I dont recommend another one. Just dont do it with them!
- Reviewed by F.F., August 23, 2006. Rating = 1/10
I’ve been trading with FXCM for 7 months. Horrible manipulation, “waiting for answer from dealing desk” Closing my account!
- Reviewed by Gfuller, August 21, 2006. Rating = 3/10
Bunch of W****** ! Take it from someone who had over $50 K with them – so u know im serious. Lost 10 K in 2 weeks and then made over 25K in following 5 weeks– they put me on manual and didnt have balls to give a decent reason why and kept on shoving propfx on my face– and i told the to stick that platform up their a***. email me for more detail- vkmms@hotmail.com
- Reviewed by pipoverdose, August 21, 2006. Rating = 1/10
Everything was fine when I was losing money…and after I learned how to trade and I started to make alot of money FXCM put me on manual execution and you know the end of my story right…they forced me to close my account!!!!

Bunch of Robbers!!!
- Reviewed by eambrausa, July 29, 2006. Rating = 1/10
They make u think u in control when u losing money………..once u start making money they do everything to make u hate yourself…….as far as changing ur excecution process to something horrible.
- Reviewed by tee, July 26, 2006. Rating = 1/10
I share the sentiments of many here. After a few weeks of making money, the dealer desk stepped in and took control of how I should trade. I am now ascertaining which brokers do not do this and there are several. I strongly advise against opening an account with these guys.
- Reviewed by Andy, July 20, 2006. Rating = 1/10
The lowlifes of forex trading. Nothing is beneath them to get money off you, they exist to fleece your account. Slippage, stop hunting, changing limits and stops, freezing platform in fast markets, placing you on manual execution when you start making profit, locking you out, not allowing trades to close with profit, price delays and skewing, incessant requoting… you name it. I’m surprised that such blatant swindlers and con artists can operate legally.
- Reviewed by iznogud, July 8, 2006. Rating = 1/10
Execution has been good so far and spreads are tight.
- Reviewed by cambist, July 8, 2006. Rating = 8/10
What most people say here is true, slippage is horrible.
- Reviewed by Krystek, July 1, 2006. Rating = 3/10
Won’t let you in or won’t let you out in fast moving markets. Accounts on dealer hold because they can’t off set the trades fast enough. In really moving markets platform freezes up.
- Reviewed by 2wheel, June 17, 2006. Rating = 2/10
Only thing good about FXCM is their trading platform…they are the worst at abuse, bouncing back a trade, locking up quotes in fast moving market etc
- Reviewed by Rainman, June 15, 2006. Rating = 1/10
Please, horrible execution after 2 months with them.
- Reviewed by FXMaster, June 15, 2006. Rating = 1/10
Bad slippage, slow trading, stopped out when not possible. And Refco deal.
- Reviewed by sam, June 14, 2006. Rating = 2/10
Pros: On a big plus note – their trading platform does offer a news squak box – and the news coming out is excellent and helpful in understaning what is causing market movement. Although their spreads are not the lowest, FXCM does provide phone service.

Cons: Beware that their related charting service from FXTrek and thier charts on DailyFX DO NOT provide accurate real time data during heavy trading periods (e.g. after a major economic release) and this, quite frankly, is unacceptable at times – especially if you trade off charts. Also, during heavy trading periods, or with a slow internet connection, trades often do not go through when the price moves.
- Reviewed by camarora, June 14, 2006. Rating = 5/10
FXCM is very customer service friendly. They have free webinars to help your trading. They are an excellent broker.
- Reviewed by PJM, June 14, 2006. Rating = 10/10
Scammers to the max. Changing margins, slippage, frozen trading platforms, do not answer questions, send you in a phone circle to the other rude teenagers. Money dissappears unrelated to transactions. There is more, they do not care.
- Reviewed by gideon, May 22, 2006. Rating = 1/10
Not recommended. Slippage, dealing desk and constant platform freezes.
- Reviewed by King of the Hill, May 1, 2006. Rating = 1/10

Rate & Review This Broker
2006/07 FXCM Ratings
More Broker Reviews

2005/06 FXCM Reviews

FXCM does offer a broader package in terms of customer service. The greatest difficulty with FXCM is that even with a high speed internet connection, market orders are often rejected when the market is moving. If Oanda can do it, so should FXCM!
Rating = 6/10 – April 11, 2006
Technically and customer service, perfect. But horrible spreads.
Rating = 7/10 – February 14, 2006
Very good fast support.
Rating = 10/10 – February 11, 2006
I should have closed my FXCM account months ago. 200:1 leverage is too high for the mini account and leads to trouble if you’re a novice FX trader.
Rating = 1/10 – December 11, 2005
Tired of FXCM dealers picking off my stops. I’m moving my account. Had the same problem with Refco. Pretty low class to trade against your own customers!
Rating = 1/10 – December 4, 2005
Pros: credit card deposit, easy-to-use software, NZD-JPY available
cons: swap only for above 50:1 leverage, easy dealer check, slow price update
Rating = 1/10 – December 4, 2005
FXCM executes well, but has a dealing desk. On a few occasions I have seen FXCM produce price spikes to blow out stop orders in FXCM’s favor. These price spikes do not appear with other data feeds. They advertise no slippage. However, the price they choose to feed you is sometimes not in tune with the market and is biased in FXCM’s favor.
Rating = 1/10 – November 10, 2005
My only gripe with FXCM and REFCO are their spreads. Other than this, they are fine, although I have noticed some tricky price spikes on FXCM and have heard of bad practices from others who have accounts there. With the recent problems at REFCO, I would be wary of FXCM.
Rating = 3/10 – November 8, 2005
FXCM had daily breakdowns and dealer manipulation.
Rating = 2/10 – October 25, 2005
The price quotes do not seem to match the market, that I am seeing with my charting software. Many times they will be off as many as 4-5 pips.
Rating = 5/10 – Oct 8, 2005
Frequent large slippage (2 – 5 pips) or order rejection (about 50% of the time with my trading style. They have an “At Market” field which is supposed to guarantee that if my market order can’t be filled at the quoted price, then the order is not executed. It didn’t work at all for me. I often got slippage anyway. This amounts to false advertising.
Rating = 2/10 – Oct 1, 2005
Both these brokers (FXCM & RefcoFX) lure you in with excellent execution on their demo account and switch you to manual execution once you go live and start to turn a profit.
Rating = 1/10 – August 21, 2005
The software very good and the execution fast.
Rating = 10/10 – July 18, 2005
I found FXCM a complete rip off, and cannot in any way recommend it.
Rating = 1/10 – June 29, 2005
They charge negative interest on all open positions regardless of currency or direction of trade, on accounts that are leveraged greater than 50:1. It’s just another commission in disguise.
Rating = 1/10 – May 5, 2005
The platform is good, the execution time is very good and orders are respected as well as stops and limits. The only thing I don’t like very much is the news plugin, because even though it’s good I dont feel news arrive very fast.
Rating = 9/10 – May 4, 2005

Rate & Review This Broker
2005/06 FXCM Ratings
More Broker Reviews

2004/05 FXCM Reviews

The only thing I don’t like about FXCM are the large spreads on GBPUSD and USDCHF.
Rating = 5/10 – Jan 2, 2005
I have traded with many brokers (FX in particular) and FXCM has bar-none provided the best customer service and execution I have ever seen. This market has gaps, and at least I know FXCM will deal with market gaps as fairly as possible, while other brokers simply turn off their platforms or refuse to make you a price. In addition to being backed by Refco, I also know that they are the largest FX firm out there and my funds are safe when I trade with them.
Rating = 10/10 – Nov 30, 2004
Horrible customer service; hidden fees and lot of delays & excuses when trying to withdraw funds. Stay away.
- Oct 19, 2004
Very good PR, but huge spread, and you are forced to trade only 10000 or more. It will wipe out your account. You can’t do money management, can’t scalp, can’t trade GBP/CHF 15 pips spread!!!

—————————————————————————————————————————-

2. Objective Reviewers
Sources: www.forexpeacearmy.com

Felix Homogratus, USA
Rating:    No Rating
Date of Post:    2006-02-11
Review:    I personally used FXCM as my forex broker for a while live when I was just starting trading. I didn’t have any problems with them at that time, but I wasn’t trading that much, and didn’t really know what I was doing.

If you have any experience trading forex with FXCM, please share it with us and post a review.
West Coast Pips, Vancouver, BC
Rating:
Date of Post:    2009-12-17
Review:    Hi there. I am a professional news trader and been trading for about 5 years. I have been using SNW to get into trades and am currently with FXCM UK. When you news trade with FXCM you have to be aware of using ‘at best’ or ‘market range.’ I never use ‘at best’ as you can be slipped many pips. I recently tried trading just 2 minis with NFP and got slipped a huge 70-80 pips.

FXCM UK had 400:1 leverage up until Nov 22, 2009. Now they have 200:1 and when you trade pairs like gbp/usd you need higher margin amounts. I did make a lot of money with FXCM trading the news though now things are very different. I use fairly big market ranges (slippage control) to get into news releases and have beeen rejected the last several weeks.

On top of that I had a debatable margin call recently where I lost several thousands of dollars. I contested this many times though have got nowhere.

I have a gold account, over $25K in my account so get 2 free withdrawals a month. You also get better service if you are a gold member.

I have decided to pull the plug on FXCM as things are just not working out. If you are a tech trader you should be OK. If you are a scalper and news trader AVOID FXCM at all costs.
ermer magbanua, philippines
Rating:
Date of Post:    2009-12-16
Review:    I traded in fxcm before and i have no problem with them. their online support is good. im planning to open again with a new account.
Zoli, Hungary
Rating:
Date of Post:    2009-12-12
Review:    I have been using FXCM for 6 months now, began my demo account with them then opened a live. Overall I don’t have any significant problem with them, just an annoying one.
2 out of 5 times they just don’t respond to withdrawal requests. I’m paying a nice 40usd for it, (Outside US,UK, USD account) and for example last time it took one week to notice my request, and 3 more days for the money to arrive. I have written several e-mails to them, requesting information on my withdrawal, and I got one lousy automatic e-mail. I mean they could write me an email that we are sorry, we fired the support guy who was playing WoW in worktime. Nah.
Alex, Utah
Rating:
Date of Post:    2009-12-11
Review:    I will start off by saying that when I opened my live account with FXCM things were phenomenal. I was up in 3 weeks 17k. I pulled money out, low and behold. Stop losses were hit CONSISTENTLY!!! Lots of reeeeally odd market movements that never happened before and kept happening. I kept comparing it to the demo server. Night and Day. Two completely different sets of information. Could it all be a coincidence? Sure…. But I doubt it. I would never recommend it to anybody. I hope no one else makes the same mistake I did by not listening to others reviews. Stay away from these types of brokers.
Jim, Los Angeles
Rating:
Date of Post:    2009-12-01
Review:    Don’t do it: FXCM charges for each withdrawal including checks, it is extremely difficult to make any money in forex let alone having FXCM gouge you with fees. The FXCM trading platform is also inadequate.
Micro, Mini, Standard & ECN/STP forex broker – Currency forex trading online
3rd Party Advertisement
Your banner here
Sam, SF
Rating:
Date of Post:    2009-11-24
Review:    Not for MT4 that is certain

These guys really know their stuff, they are professional courteous and go out of their way to help which is why I give them three stars since that side of things is fantastic.

Now, on to the trading platform, if you are using MT4 this broker is not for you! They have their own FXCM platform for performing manual trading but the MT4 is through a third party called Boston Technologies and it is horrible.

During the demo everything looks fine and my trades were substantially profitable. However, once you go live the actual hops involved go back and forth between Boston Technology and FXCM servers which introduces major slippage, delays, odd errors ( what is an off quote?) and just overall horrible performance.

Several pending order trades along with sls and tps were executed in areas now where near the price level they should have or so it appeared on MT4. The whole experience is just totally chaotic once you go from demo to live.

Their FXCM platform might be great but I mix ea and manual trades and most eas will be killed by slippage and overall bizarreness on their MT4 platform.
Jim, Los Angeles
Rating:
Date of Post:    2009-11-21
Review:    I have 125 live trades with FXCM and IBFX. FXCM quickly executes the orders for a few pips commission and the industry quickly executes you. Forex is a corrupt manipulated unregulated industry of people controlling and living off your money, including all the “trader” liars selling robots and other crap. If you think you’re going to make money or a career with Forex, stop dreaming, you are not facing reality, as Susie Orman says, stop lying to yourself and others. Bring out your best stuff, ANY stuff, you go long, they take it short, you go short, they reverse and go long, Frustrated, you place a spread with two brokers and make money on one side, they will torture you for hours with serious danger on the opposite side, even days, I have a rotten day job where they try to turn everybody into submissive fearful wussies, but Forex is the wussie master. They can and will torture you endlessly with the spread and entry-price. When you pin traders down including vendors: SHOW ME YOUR ACCOUNT STATEMENT of winners AND losers, they start spinning or bring out some statistically flimsy performance. At a minimum, anything less than 30 weeks performance is flimsy. I’ll come clean on MINE, I have 125 live trades, I try to collect pips, but I am down pips, and 99% of you are also. The other 1% are working for one of the well funded forex industry companies trading against you.
Lee, United States
Rating:
Date of Post:    2009-11-20
Review:    i just closed my fxcm account because they are a bunch of crooks. If you have multiple positions open the platform will give u hell to close out your profitable positions. They tell u plainly however yhat your interest in trading is at odds with theirs, which means to me, ” you are trying to make money, we are trying to take your money.” Not a penny more of mine!
lost 3 grand sterling so far, england
Rating:
Date of Post:    2009-11-11
Review:    been with fxcm fmicro or a year now have seen profits of up to £600 made in minutes and lost it just as quick. I have noticed these gourge sized spreads happen just long enough to hit quite a lot of stop orders thankfully not on my trades. I think there is an element of ‘cheating’ involved but I wonder if it would be any different with any others my example is entry orders not being activated and coming home from work to see I have missed out on a few hundred quid because of it. The customer service I find is as polite as you are with them so stay calm.
—————————————————————————————————————
3.
Source:
www.currencysecrets.com/

FXCM Review

FXCM Home Page
What’s The Attraction?

I lost my forex trading virginity with FXCM. When I had learnt the basics of the forex trading world and felt ready to open a live account I thought that by trading with the largest forex broker in the world I would no doubt be trading with the best.

Unfortunately FXCM began to wear quite thin quite quickly – the large spreads (at that point in time) were one of the largest in the business and their platform was nothing spectacular. I immediately began to wonder why they were the largest in the business as there certainly wasn’t anything that kept me attracted to it.

So, after being a client of FXCM for a couple of years I failed to see the reason for the large attraction. Maybe it was their large advertising budget… maybe it was their ability to large land clients… or maybe it’s their ability to offer such a great commission to referrers who land clients for them (FXCM pay the highest commission to referrers who open a live account and have their clients trade with them). Whatever it is though I think you too will be pleasantly surprised at why this featureless forex broker is the largest in the business.

But then again maybe that is the attraction: FXCM is just simple. I know from my personal experiences in life that the simple things are often the best! Maybe FXCM have been able to successfully apply this adage to their business!

Therefore, if you’re looking for a good reliable platform then look no further than what FXCM has to offer.
Live & Demo Differences

One of the best aspects to FXCM is that there are no differences between their demo and live accounts. What you see in the demo account is what you will get in the live account. In fact all you need once you have a live account is to simply flick the switch on your login entry screen from “demo” to “live”. That’s probably the only difference!
What We Liked About FXCM:

Once upon a time the best feature at FXCM was its ability to honor stops. Unfortunately those days of guaranteeing stops are no longer around especially around volatile announcements such as the Non Farm Payrolls.

But what we do like about FXCM is its ability to offer 18 different currency pairs with the 4 majors having 5 pip spreads bar the EURUSD which has 4 pip spreads (FXCM has changed and they now offer 3 pip spreads on the EURUSD & USDJPY) which remain fixed regardless of the underlying market conditions.

FXCM also offer mini accounts ($10k contract sizes) with leverage of 200:1 alongside their standard accounts ($100k contract sizes) with leverage of 100:1.
What We Didn’t Like About FXCM:

Some of the restrictions recently imposed by FXCM weigh on the negative side for FXCM. As FXCM seem hell bent on maintaining a no slippage policy they have resorted to these restrictive measures to help the “client”. These measures deny any stop or limit orders being placed 5-15 minutes prior to a major announcement, and deny any stop entry orders being filled if the
currency never trades at your stop entry price! This makes designing a forex system very difficult if your forex system utilizes stop entry orders, because now you have to wonder if FXCM wouls have been able to enter you into your hypothetical backtesting trades… and if they wouldn’t have then you’ll have to reanalyze your backtesting data!

Another problem we found was that you can only open an account in USD. This is fine for the majority of forex traders that live inside the US, but can be a little annoying for our international partners who have a currency that is appreciating against the USD and thereby has to lose capital while the US dollar continues to depreciate. Of course this can work the other way too. I think it would be great if FXCM could offer the ability to have multiple currency denominated accounts so that the customer can have their capital appreciate over the long-term by transferring funds into the currency that will appreciate the best in the long-term. The client receives the income from their trading activities, plus the appreciation of their capital. Other forex firms have this capability with Oanda being the smoothest.

We also particularly didn’t like FXCM’s news and charting platforms – two klunky programs that need a LOT of polishing.

Lastly, we found that mini positions do not accumulate interest during rollover. This is only a minor issue, but other forex brokers pay interest regardless of what the position is, one notable forex broker that pays rollover interest on mini positions is CMS.

In summary then…

FXCM PROS:

* One of the largest forex brokerage firms in the world (has partnered with the Refco Group)
* Excellent platform, easy to use
* 100:1 leverage
* Good 24/7 Support
* 3 pip spreads on some majors

FXCM CONS:

* FXCM’s entry order restrictions
* Charting and news packages could be better
* No rollover interest received on mini positions
* Platform fairly basic and featureless

Our Rating:

Unfortunately there really isn’t a whole lot to FXCM, which makes rating it a difficulty. I give them credit for their platform’s ease of use, but then I take away that credit because of their klunky news and charting plug-ins. With all that is left it seems that FXCM offers nothing different to what others offer and in most cases LESS or WORSE than what others offer, therefore, we decided to give FXCM a score of…

1/10

If you have a similar or differing view, click on the comments link below and add your opinion about this broker.

Tags: Capital Forex Market, FXCM, FXCM Station Trading, FXCM Trading, FXCM Trading Station, FXCM com, Forex Broker, Forex Capital Markets, Forex Capital Markets LLC, Forex Capital Markets Ltd

This entry was posted on Friday, May 13th, 2005 at 10:16 pm and is filed under Capital Forex Market, FXCM, FXCM Station Trading, FXCM Trading, FXCM Trading Station, FXCM com, Forex Broker, Forex Capital Markets, Forex Capital Markets LLC, Forex Capital Markets Ltd. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
27 Responses to “FXCM Review”

1. Vladimir Says:
January 15th, 2006 at 12:23 am

FXCM allows slippage of 80 pips. I have had a mini account with them but after they executed my market order with 80 pips slippage I decided to find another broker. It was on the first Friday of November 2004 during NFP announcement. When I asked them why did they they allow such huge slippage I received a long letter in reply (from certain Sameer Bhopale) that contained an extract from their web site: “*…All stop-loss, limit and entry orders are guaranteed against slippage EXCEPT IN EXTRAORDINARY VOLATILE MARKET CONDITIONS…”
Such extraordinary volatile market conditions happen every time NFP figures are announced: FXCM simply does not give you a chance to trade within at least 40-45 minutes after NFP announcement. In other words, they are real jerks.
2. Daniel Says:
April 30th, 2006 at 8:55 am

I don’t know when this was written, but it must be old. They have many options for opening accounts in different currencies and recently updated the news plug-in to the tradestation. Also, the spreads they offer are at least as good as anywhere else, and the fact that I can reach them 24 hrs/day is quite comforting.
3. anotherbucketshop Says:
May 22nd, 2006 at 11:32 pm

look at refco today that surely is going to be the tomorrow for FXCM, sonner than later now after the plan for a centrelized FX market in 2007.if i were you I certainly will start to worry about the safety of my funds in those bucket shops now.
4. Sandro Says:
July 7th, 2006 at 7:40 am

I’m neiter not a friend of FXCM. To be honest: they suck!

1) In a uptrend you always get quotes 1-4 pips above the interbank prices.
vice versa below in a downtrend

2) Yes NFP, rates and similar announcements!! Worked fine the first two times. My average is around 70% on NFP (got a small Mini account for such events). As soon as the note that you’re making money, a nice pop up appears: ” waiting for dealers respond”. One minute later quotes are up 60 pips and the trade has been rejected (not requoted!).

3) EUR/GBP I wake up in the morning and I look at my tradestation chart. great! Position 1 should have been closed, target reached. I open the trading Station and what do I see, the position is still there. FXCM low was 3 pips above my target while the tradestation chart was 4 pips below my target (short trade). lost some hundred euros because of this and since then I have not used FXCM for my normal trades.

SUMMARY: FXCM is the biggest Bucket Shop I’ve ever seen. I’m trying Oanda now and my big company account is at mbtrading.com where I got interbank quotes (paying commision). Such brokers are not recommened to trade anouncements.

I hope many peoples are reading this and that they wont do the same mistatke I did = opening an account at FXCM!!!
5. Currency Secrets » Blog Archive » IFX Commerce Review Says:
July 15th, 2006 at 1:29 am

[...] I personally found that IFX Commerce was less volatile than say other brokerage firms such as FXCM. What I mean by that is that other firms such as FXCM might fluctuate a few pips up and a few pips down and then return to where it first started – all within the matter of a minute or so. I found that with IFX Commerce such fluctuations either did not happen, or did not move as much. Obviously when there were extreme movements of volatility I did find that IFX Commerce’s price moved in sync with other forex firms. [...]
6. pipoverdose Says:
October 5th, 2006 at 6:00 pm

what can i say but this bucketsop needs a slap on the face!!
i have gone throught numerous website reviews on broker ratings/reviews and found FXCM to be the most attacked and disliked. I have used them personally and i think the worst of them, They are a bunch of thieves looking to rob forextraders at large especially newbies. Stay the F away.
7. Paul Says:
October 6th, 2006 at 9:16 pm

Had an account with FXCM for a year. Started with their Demo and profited; it seemed easy to simply follow chart patterns and make gains. But I was conservative and waited six months before committing to a live account and even then never held more than ten lots at one time on the Mini account. Over the next six months I lost $16,000, in spite of applying every possible caution (stops, limits, monitoring news and heavy technical analysis) and in spite of spending 8-10 hours a day trading both on a long and short term (minutes and hours) basis. I started to reach what I believe is the top of the obscenely steep ‘learning curve’ one faces with Tradestation, in the last few weeks. I traded $150 into about $450 in one week and before that, $650 into about $1600 in one week. However, I encountered several major problems with Tradestation which I believe have caused much of my losses and are a result of deliberate fraud by FXCM or those who have a business relationship with it. This month, after I began to recover money through strategy changes, my account was suddenly closed without notice. FXCM had sent me an email stating that (somehow) I had ‘abused’ FXCM staff. I responded that this was wildly incorrect and untrue but have not had a reply. I complained bitterly to FXCM both online thru their chat service and a couple of times when they phoned me, that I was certain my account and its trades were being both monitored and intercepted. A very clear example of this happened last week (my last trade); I sold GBP/JPY at 221.75 and held the trade for 24 hours. The pair struggled to rise as the market had been in a long downtrend and only recently reversed direction (hence the hold for 24 hours). Strangely, as soon as the pair came within the spread charged by FXCM for the BID to clear out my account thru a margin call (i.e., 222.71 plus the 9 pip spread, or 222.80), I was cleared out (monies stolen) and THEN GBP/JPY PLUMMETTED FORTY PIPS within the next five, ten and 30 minutes (i.e. the direction suddenly and completely reversed). I cannot understand how such a reversal can take place thru ‘normal market activity.’ Thru my talks with FXCM staffers, I was told FXCM never risk anything (ie such as their own money) and that such things as unexplained data losses in their Tradestation chart feeds, ‘brownouts’ (Tradestation just quits working after being online for an hour or so, even though I have good broadband and all other connections are up), and the ‘unusual trading patterns’ (where you are margined out sometimes by a few pips and then the price reverses. This makes sense if the market is trending in the direction opposite your bet; it doesn’t make sense for a pair to reverse after a counter-trend, only when your personal account limit has been reached). I was also told that ‘repairs are being made’ to ensure that data holes don’t occur in the charting data feed (but it was continuing to occur as late as last week) were nothing unusual. Additionally, and most worryingly, I was told that FXCM couldn’t guarantee that my trades would not be packaged with trades in the same pair but the opposite side of the market (i.e. If I was short, that my trade would be ‘packaged’ with a trade in the same pair in the opposite side of the market), and worse, that ‘in 80% of cases, all mini account trades are traded in house and never sent to the interbank market.’ This means in essence, that when you trade with FXCM and have a Mini account (and most likely, smaller non-Mini accounts up to a certain level) that your trades will NEVER be sent to the real market and that you are in effect always and only trading with other FXCM Mini Account holders, whilst FXCM artificially manipulates your trades to ensure that you THINK that your account activity is following the real market. Let’s face it, FXCM is shit and the reason is right there on their website! They baldly state that they take on ‘4000 new clients’ every month. I was with them for a year and they constantly hyped the ‘fact’ that they ’serviced’ (whatever that means) 78,000 accounts; but if they were adding 4000 new clients a month, why aren’t they up to 100,000 clients now (and more!!)?? Because SO MANY clients LOSE EVERYTHING and LEAVE FXCM but do we hear a peep about these poor sods? No! Stay away from FXCM or take them to court; to me these are the only options.
8. pipsqueak Says:
October 30th, 2006 at 6:29 pm

Hello this is weird I am a newbie what are you guys saying about FXCM, Im a newbie recommend a solid trader.
9. Administrator Says:
November 3rd, 2006 at 9:12 am

Hi pipsqueak,

If you’re looking for a solid broker I personally recommend Oanda.

Other’s have recommended Interactive Broker’s.

You’ll just need to find what suits your requirements as we’re all different.

All the best,

Ryan
10. Steve Pipchaser Says:
December 23rd, 2006 at 6:09 am

I appreciate that you gave FXCM’s trading platform some low numbers, but I have to disagree with the con of its simplicity. For a newbie to Forex Trading this is actually a pro.
I started with FXCM’s trading station and its simplicity was great. I moved on to GFT and the complexity of choice on GFT’s charts, indicators and setting up forward selling/buying positions and orders had my head spinning. However, I now wouldn’t trade GFT ’s platform for anything and after having tried some of the other platforms I have found that they are just too simplied for me to go back too.
I still utilise FXCM but mainly for position trading to earn interest.
So, if you are a newbie to Forex, to learn the basics of charting and getting in and out of trades with ease I recommend FXCM. Once you have the basics and want a package with a bit more meat, then I happily recommend GFT.
Note: And if you are a newbie to Forex – ignore all the “trade the news (Fundamental Announcements) to make a quick buck” – whatever the platform/Broker you use. You will just get burned……..
11. rchris Says:
April 3rd, 2007 at 1:54 am

I totally agreed with some of the commentaries given here… FXCM is sux… and to be honest I did not realise it until this week. I’ve used them for almost 1 year and I believed my early trades went wrong due to my lack of knowledge. However, I learnt all technical analysis and I am very confident I understand fully all these indicators. I applied these strategies with stocks and 80% of time I made profits.

With FXCM, I lost 4k this month even though I applied all technical analysis and follow through everything carefully. I traded on mini account and I got to the stage where I totally believe they know where my orders are and wiped out everything before it went down or up again. How the hell can this happen!! that’s because they do not want to lose money and they know I can make 100 pips profit with 20 pips stop but instead they created these short spikes to wiped out my positions. I was totally frustrated and I cant think anything else other than this is manipulation. I tried all different strategies and they got wiped out quickly when you know you are going to have an extreme downtrend or uptrend….

A few noticeable anomalies in the system confirmed my suspicious….at one one time…. GBP/USD went down to 1.9450 where I checked in other forex websites, the rates only went down to 1.9470. It closed all my orders and went up again.

I also put 100k orders a few times and all a sudden I saw big spikes to wipe out my orders quickly. Based on hourly charts, I do not think this can happen that quickly or possible to happen. Well, it doesnt happen one time but happened almost 10 times in a row.. No matter what positions I took… they will get it…..

ANY SUGGESTION ON A RELIABLE and NOT FRAUD TyPE BROKERS?
12. Susan Says:
October 25th, 2007 at 7:57 pm

I quite appreciate all the comments i read about FXCM.I have been with them for quite a long time now and i do not seem to understand majority of the complains people make about them.Though i sometimes loose money due to internet connection failure but i always make profits and the only thing i wouldn’t do is trading News cos it can be disastrous atimes.
I Implore those people that complain to try some other brokers to ascertain which one is most reliable to trade with.But of all the brokers i choose FXCM if there would be another chance in heaven to choose a broker.
Keep the FXCM flag waving high in the sky if actually you want to trade in a profits market called spot.
13. Susan Says:
October 25th, 2007 at 8:01 pm

Greed allows people to loose money on FXCM
14. Jack Says:
November 30th, 2007 at 2:53 am

FXCM takes the other side of your trade, and they told me that their policy is to be within five percent of the actual market price when they take your trade. That’s how they took $5,000 from me in “slippage” on one trade, so I waited until the account was up $18,000 and then closed my position and the account. GAIN Capital is the same.

I’m looking for someone (I hear cbfx is honest but they don’t respond to my emails) who can trade my TradeStation strategy automatically. It trades on two-minute bars 24 hours per day, and back-testing (not including interest) shows it could double my account each month.
15. Administrator Says:
November 30th, 2007 at 8:36 am

Hi Jack,

You may want to check out Dukascopy’s Agent API here.

Ryan
16. Dave Says:
December 17th, 2007 at 4:42 am

So what’s the best site to use if FXCM is such a rip off?
17. john Says:
March 12th, 2008 at 7:18 am

They are all as bad as each other. If they were not then nobody would lose. Proven by the fact everyone makes a fortune on demo accounts but then once they do the real thing they have a terrible stroke of bad luck trading the same strategy that worked before.They dont want you to be able to hold positions over night because then the odds are in your favour so they give interest. Its a system made up of thieves. You really need to get in quick and take a quick grab of profits before you get wiped out. This method works but again then they win more than you win from the spread even tho you are up for the day. I just cant get my head around the fact they have so many disclaimers that say they basically can do what ever they like with your money and for some reason this is classed as legal?? Good luck with your trades guys. There are some major crooks out there living the high life while you stay at break even for a lot of effort. Dont get greedy and take small pips consistantly if you want to stay in the game.
18. Day Trading Futures Says:
June 29th, 2008 at 6:31 pm

So what’s the best site to use if FXCM is such a rip off?
19. Rich Bitch Says:
July 16th, 2008 at 2:10 am

Well none of this is encouraging. I am still in demo mode with FXCM and have plans to start trading in live mode in about 3 weeks but everywhere I turn there’s another conversation about FXCM being a scam and a rip off.

Just a note: it says in the post that there’s no difference between the demo platform and the live platform but when I contacted FXCM and asked if the demo platform and the live platform are the same I was told that they are not exactly the same. I was told that when in demo mode you don’t experience slippage or the effects of volatility. Was that there way of telling me that in live mode I won’t be making any money?
20. KYle Says:
September 27th, 2008 at 12:24 am

I have been using FXCM as a demo for 3 months, I will throw 25 bucks into Fxcmmicro soon. I am not certains that all of the alleged things stated are true, not to saying anyone is lying. How can they move the market when there are so many other traders, brokers, and orders in at the same time. Would they not want you to be profitable so you keep paying the spread?

This is a bit discouraging, I’m sure it is not as bad as all the above states.

Cheers,
Kyle
21. Kevan Says:
October 17th, 2008 at 2:37 pm

I have been trading a Demo account with what i think is a solid strategy, i have deposited funds into an account to be transferred to (i was going to fxcm) and then i read the full discloser statement, when Appling for an account which includes (separately ) a wavier to take them to court or any legal hearing, furthermore it pretty much states many times, that FXCM can do anything they want to your account, including closing it at a loss to you at their discretion, or demanding you increase margin with only 24hour notice, you also basically agree in the disclosure that you have no rights to recourse.

certainly made me think twice.

i think after reading the above I’d rather just pay commission fees and know that at least then there is not such a glaring conflict of interest.

I start to get the feeling that the “Demo” account is much more successful than the “Real one”.

And I really don’t want to deposit fund just to see them go to scammers if above is primarily true, I can go to the sideshow at a gala and get scammed I don’t need to get scammed this way.
22. John Broen Says:
January 2nd, 2009 at 11:32 am

Be careful with FXCM. Morons in charge of the company. For example, Jan 1. 2009 Asian markets start trading at 5pm EST, Fxcm didn’t bother to open their trading activities until 2am the next day.
Totally irresponsible!
23. Riley Says:
April 25th, 2009 at 2:43 pm

FXCM is a great broker. They have some of the best spreads around. As for the demo account not being exactly like a live account this should be obvious because the demo doesn’t rely on liquidity! You can get an active trader account with FXCM which shows you the liquidity. If you have any question about how the market moves follow the moves on charts from multiple sources. The data from multiple brokers does the same thing so they are not creating sharp turn-arounds just to still your money. These accusations are ridiculous. You really think these companies are working together to steal a couple thousand dollars from you? That’s chump change. The review was written a long time ago before Trading Station 2 which has lots of indicators and oscillators. You don’t need all that much to make profitable trades anyway. Just use your brain. I usually don’t experience any slippage and when I do it is only a small amount. I have been trading with them for several months and I have only had one complaint. There was one day where the trading system went down for an hour or two but it didn’t affect my trades so it was just a little aggravating. I started out trading using GFT but FXCM Trading Station 2 is years ahead of that piece of crap platform they use. I also demoed with OandA and a few others and haven’t found anything I like better than this. The only feature I wish they had was making a parallel line like you can do on FXStreet’s charts.
24. Paul Says:
May 21st, 2009 at 9:39 am

Riley, wake up or go back to your corner office at FXCM. They suck with both execution and technology. One would think that after being around for several years they would learn to improve their operations a bit – unfortunately those guys did not learn anything! I will never trade with them again
25. MoneyFinisher Says:
June 23rd, 2009 at 9:35 am

What else is there aside from FXCM?

I’m currently using IG Markets and CMC Markets. I’m looking for the best one to trade.
26. OC Chong Says:
July 16th, 2009 at 11:35 am

Thanks for all the responds. I had a look at their tool and it just looks to good to be true. I am new to Forex but have done some stocks trading with ThinkOrSwim. So far so good. Anybody traded Forex with ThinkorSwim?
27. charles Says:
August 13th, 2009 at 6:31 am

AVOID AS HELL….

FXCM is the worst broker ever! they are cheaters and scammers….they say they don’t have a dealing desk, but I bet my c…k they read everthing and steal all they can! They stole me really a lot playing bad tricks..like not respecting stop loss in order to make me go in margin call and close me all the positions, making suddenly disappear open positions, requoting me everytime there’s a good opportunity of earning and so on…

My piece of advice is run away from these scammers….they are miserable money sucker…