FXCM Reviews:
| Rating: SCAM Submitted by: nick (05.01.2007 23:10) |
| Don’t use the FXCM as a forex trading platform!!! You will lose all of your money. |
Rating: Submitted by: Mark Antony (08.01.2007 14:10) |
| They really act in their own interests but not in the interests of their clients. I suggest newbies to forget about FXCM and go find a better broker. |
| Rating: SCAM Submitted by: Steve Green (10.01.2007 11:11) |
| Stay away from them when trading real (not demo) accounts. When trading goes, you will be locked out of trades. |
| Rating: SCAM Submitted by: profy (11.01.2007 03:02) |
| If you are newbie stay away from FXCM!!! |
| Rating: Submitted by: new (15.01.2007 23:12) |
| They have very bad email service. |
| Rating: SCAM Submitted by: maxtrader (22.01.2007 18:13) |
| This broker does not allow me to close the trade at market price if price is moving against them. I get 'Data not found', 'Waiting for dealer', 'Your order didn't execute 'cause price moved' kind of messages, though the FXCM platform keeps on showing the same price. |
| Rating: SCAM Submitted by: anyone (25.01.2007 20:10) |
| It is scandalous when the platform freeze for 1hour in the news. |
| Rating: SCAM Submitted by: (03.02.2007 04:53) |
| Should be subject to a class action suit. Thieves and bandits! |
| Rating: SCAM Submitted by: ahmed (07.02.2007 14:42) |
| they s*cked my money very well |
| Rating: SCAM Submitted by: albert (27.02.2007 21:06) |
| trading currency is hard enough and when you have fxcm as your broker you can kiss your money goodby. over the last 1 1/2 years they have proggresivly gone down , like a cheap two cent you know what. there is not enough memory in this web site to list all of their short comings , but i'll list a few. slipage, manipulation, locking your trade, not letting you trade when it is at the highest probability that you are right, live desk? more like dead desk,arregant,uncaring etc. etc. etc. etc. |
| Rating: SCAM Submitted by: Dude (20.03.2007 19:47) |
What would u excpect from a broker who will never answer your emails.??
Besides , FXCm is all about marketing and that's it. Also high pip spread to rip you off.
try ifx markets or crown |
| Rating: Not Rated Submitted by: The man who sued FXCM (12.04.2007 02:42) |
FXCM has been sued based on the complaints here described and many others.
Those interested in joining please contact me:
yorktown@lycos.es |
| Rating: Not Rated Submitted by: AndyS (26.04.2007 03:11) |
Please read this copy of the chat I just had with FXCM:
What else can you add...
FXCM!29: Welcome to FXCM's Live Chat Feature. So that we may better serve you, feel free to provide me with your name and email address. How may I help you?
User: Hi, How are you?
User: WHY My CHF Order was not executed?
User: ticket #: 17629241
FXCM!29: What are the specifics of the order?
User: The Entry (Sell) level was reached but it was not executed
FXCM!29: what was the sell level?
FXCM!29: what is your account number?
FXCM!29: what was the currency pair?
User: 1.2043
User: USD/CHF
FXCM!29: Is this a live account?
FXCM!29: what is the live account number?
User: Demo
FXCM!29: was this an order to buy or sell?
User: Sell
FXCM!29: when did you place the order?
User: 20 minutes ago
User: RIGHT NOW it hit this level again
User: and the order is still there...
FXCM!29: Have you refreshed the trading station?
User: Yes I did Many times
User: Now it is even higher 1.2044
User: and the order is still there
User: not executed
FXCM!29: If what you are saying is true your order should have been executed.
FXCM!29: If this were a live account we would turn this over to our audit committee to review and make an adjustment if necessary.
User: Why I can not see it on Open Positions panel?
User: Actually it happens VERY often
FXCM!29: You will only see your open trades when the order has been executed.
User: That is what I am telling you IT WAS NOT EXECUTED
User: What should I do?
User: I can not continue trading like that...
FXCM!29: What kind of internet connection are you using?
User: ADSL
User: 1500/256
FXCM!29: Is it wireless?
User: no. cable
FXCM!29: Okay.
FXCM!29: You may need to unistall and reinstall the trading station.
User: Why?
FXCM!29: If your orders are not executing properly there could be an issue with the way the software was downloaded.
User: The actuall execution runs on the Server... right?
User: what TS has to do with this?
FXCM!29: Yes, but if your orders are not showing up correctly it could be an issue with the trading station.
FXCM!29: You are the only one to report such issues.
User: http://www.forexrealm.com/brokers-reviews/#FXCM
User: Not really
User: Your comments ?
FXCM!29: Those forums are breeding grounds for market makers that can't compare to our size.
User: Well... WHY I have the same problems?
FXCM!29: We have serviced over 90,000 accounts. Obviously, not all 90,000 will be successful.
User: WHY I have
FXCM!29: I don't see anyone with the same issue as you.
User: But I had it on my REAL Account many times
User: and review commitee several times admitted that you system was wrong
User: Real TS installed on different computer
User: WHY?
FXCM!29: Obviously technical issues do arise in a technical market.
FXCM!29: We are one of the only firms that has an audit committee to look into trade inquiries.
User: ok. NOw the CHF is at 1..2050 level and the order is still there... CAN YOU SEE IT?
FXCM!29: i cannot see your account, no
User: why?
FXCM!29: because i can't log into your demo account.
FXCM!29: I do not have the login information.
User: last time the support told me that they can see EVERY button press I do
User: I gave you me email
FXCM!29: you didnt give me your email
FXCM!29: sorry
FXCM!29: it was lost.
User: account # is FXRxxxxxxxx
FXCM!29: i see it now
FXCM!29: but in order to login to your demo i need the login and the password
User: Pwd XXX
FXCM!29: Logging in now
User: PLEASE read my Email above
User: so?
FXCM!29: Please be patient
FXCM!29: i have to look at the account.
User: I mean can you see the CHF order?
FXCM!29: Yes
FXCM!29: It appears that it should have been executed at 18:12
FXCM!29: three minutes after you placed the order
User: Can you see it on the Open Positions list?
FXCM!29: No.
FXCM!29: It is still in the orders window
User: ???
FXCM!29: like i said, it should hav been executed.
FXCM!29: We execute live accounts before demos
User: Now can you see the problem?
FXCM!29: and it looked like this order slipped through the cracks
FXCM!29: I have always seen the problem
FXCM!29: I understand what you are saying
User: Ah... OK.
FXCM!29: I'm saying it should have been executed, we apologize that it wasnt, and if this were a live account you could log an audit and we would fix the situation.
User: and now tell me how should I trade to avoid these problems?
User: or wait till you fix it?
FXCM!29: Execution will never be perfect. |
Rating: Submitted by: Janine (12.06.2007 22:25) |
Overall good experience. Some slippage and ok spreads. Excellent
customer service. |
Rating: Submitted by: Mike (27.07.2007 07:46) |
| I am surprised to see these reviews about FXCM and think it might be a little biased. I have had a solid trading experience with them including their great customer service etc. I recommend that everyone at least call them to find this info out themselves. I even went to their office, very legitimate operations in a NYC highrise...not exactly what one would expect from a bucketshop. |
| Rating: Not Rated Submitted by: 911'isj' (02.08.2007 08:52) |
| I compared these guys with EFX and they have a stall on the pip movement , which occours just before you are about to make money, whic makes it really difficult for scalping, I am only a beginner but I have made money consistantley on EFX, there apppears to be no problem with the pip movement no stalling, FXCM on the other hand have larger spreads and the pip movement stalls just as you are about to make money, if I make ten pips on EFX then I am breaking even on FXCM, sounds outrageous, but with FXCM's large spread taken into consideration, you will soon see this is exactly whats happening, and the staff appear to have no idea, they say there is no dealing desk if this is the case then it must be built into the system, therefore maybe only the people at the top are aware of this, I told the chat dude to not take my word for it make the comparison for himself and that he was probadly a nice person, and if he had money in FXCM to check it out, he cut off the chat, which is like hanging on me, sorry dude if ya read this I didn't mean to insult you ! BUt I lost 35 000 us dollars |
| Rating: SCAM Submitted by: Larry (24.08.2007 16:10) |
FXCM sued for fraud in California federal court.
Case SA CV07-00349-CJC |
Rating: Submitted by: Joel (01.09.2007 03:07) |
| I've been with FXCM for just over a month now. I trade actively throughout the day. So far, all of my trades have been executed as expected. I like FXCM's trading platform. Customer service has been very responsive in addressing my administrative questions. The other comments on here are very different from my experience, maybe they were from before they implemented the "no dealing desk" ? |
| Rating: SCAM Submitted by: jonn (07.11.2007 05:21) |
| They take very much Interest and You willloss your money. |
| Rating: SCAM Submitted by: awilson1 (07.12.2007 12:08) |
| The BIGGEST SCAM IN THE WORLD !!! I recieved a margin call based on an entry price that never existed. Even though all supporting evidence proofs my case, FXCM still refuses to refund my money. STAY AWAY !!!! |
| Rating: SCAM Submitted by: Juergen (26.12.2007 04:32) |
Ever seen this movie???
http://www.imdb.com/title/tt0181984/usercomments?start=10
Same thing applies. Same thing also applies to the piece of crap called MLM (Multi-Level-Marketing) |
| Rating: Not Rated Submitted by: JC Mtl. (16.01.2008 18:28) |
This broker really s*cks, in volatile markets is impossible to close
a position I got a fill 14 and 18 pips away from my original closing price
four minutes later, you call this slippage? That is ripping off pure and simple.
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| Rating: SCAM Submitted by: jason (01.02.2008 10:19) |
| Wake up traders, this platform is a complete scam, you'll lose all your money,if you're currently trading with FXCM I strongly suggest to withdraw your money. Numerous time my stopped loss order was hit 10,15 pips away from the printed,charted quotes and all I ever get in response is "we're a no dealing desk service,during high peak trading there will be slippage" Close YOUR accounts with FXCM and give it to charities, you'll be much better served. |
| Rating: Submitted by: Joseph (02.02.2008 11:58) |
| It is good broker with good customer service Mt4 will launch soon |
| Rating: SCAM Submitted by: Paul Patrick (19.02.2008 05:17) |
| please what is that SCAM.I seriously want to know. |
| Rating: Submitted by: Abiodun Badmos (21.02.2008 08:41) |
I believe anyone regarding fxcm as scam is a newbie.
FXCM is a very good broker.
The fact is simple, if you believe that fxcm is ripping you off ur money, why dont you try comparing their chart with another other reputable brokers (interbank, fxsol, etc), if its different, then you can make your conclusion.
Besides have never heard anyone saying something about withdrawal problem. They always pay, no matter the amount and this I believe is a characteristic of a good broker.
FXCM is simply one of the best.
How many brokers will you see their contact address?
Lets be fair in our judgement and pls dont misguide people.
Scam is not good. |
| Rating: SCAM Submitted by: Jack (26.02.2008 10:09) |
Compare the hourly charts to the daily charts in the marketscope 2.0 provided by FXCM. In many cases you will find discrepancies. These discrepancies invalidate all indicators and all support and resistance.
This intentional bogus information is designed to misinform you into making poor trade decisions and eliminates any possibilty of trading most systems. If you aren't trading for the long term, I highy suggest that you do not use this platform. Read this risk warning very carefully!!!! Especially the second paragraph!!!
RISK WARNING: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.
FXCM and its affiliates assume no responsibility for errors, inaccuracies or omissions in these materials. They do not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM and its affiliates shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This email is not a solicitation to buy or sell currency. All information contained in this email is strictly confidential and is only intended for use by the recipient. FXCM is compensated for its services through the spread between the bid/ask prices. This communication was sent from a non-monitored alias email account. All replies should be sent to info@fxcm.com. Replies sent to info@fxcm.com will be received by the FXCM corporate email system and are subject to storage and review by someone other than the recipient.
For recipients of this communication who are resident in the UK or have an account with FXCM LTD (“ UK recipients”), this communication should be treated as having been issued by FXCM LTD.
|
| Rating: SCAM Submitted by: Joe (26.02.2008 10:19) |
| Slippage on Entry orders will occur about 75% of the time when trading on a real account. Most of the time it is between .5 - 1.5 pips. It does not matter what time of the day your entry order is executed or whether or not news is involved. The slippage is simply an additional cost to trade with FXCM. |
| Rating: SCAM Submitted by: Graz (27.02.2008 05:31) |
| Once again they closed trades that were negative with a incorrect margin call. They also don't pay interest on your balance (when questioned I was told be their helpdesk "we are not bank you know, if you want interest go there") My advice is 'Stay well clear'. |
| Rating: SCAM Submitted by: fxcmIsNoGood (27.02.2008 18:19) |
| Visit the National Futures Association http://www.nfa.futures.org Type in "fxcm" in the search entire NFA web site. See how many disputes and complaints come up. No need to say anymore. Stay well clear of FXCM dont fall into there marketing trap. |
| Rating: SCAM Submitted by: zulassi (03.03.2008 22:53) |
yeah, I have trade with them for few months. it happened in 2006 when I monitoring my trade. the usd spike up and eat my stop and I was left with $50.00 I won't recommed them to anyone.
I think most forex brokers re scam. Can one tell me which is good or fair in their trainig.
tq |
| Rating: Not Rated Submitted by: Chris (28.03.2008 13:29) |
| I traded FXCM for 2 weeks . I started winning as much as 21 out of 25 trades the first wekk. Going from $100 to $622. Then the following week. All my skills seem to disappear. I found that if I put in a stop...It was met with a spike that took me out. If I started to exit a bad trade and hit cancel instead, the market seemed to change direction. I averaged 60 pip a day and then they started playing me.One guy even called and asked for my strategy, like he had been monitoring my trade? |
| Rating: Not Rated Submitted by: jtrader Detroit (19.04.2008 20:13) |
Some of these comments are so lame they border on humorous. If you find that you cannot deal with the market on news days, why do you trade on news days? Just Google "forex news days, April" (or whatever appropriate month). Those are superb days for new, thinly-funded traders to go picnic or play with their kids.
Stick with good pairs. USD/GBP and/or USD/EURO. You can make as much money as you like with just those currencies. Trade into the 4 hour trend during the OVERLAP between the London and New York markets, which will be roughly 0700 to 1200 hours Eastern. If you are trading into the trend during this overlap window, you are in the game with the biggest banks and corporations on the planet. Just do what they're doing. Do not turn something simple into an unmanageable, complicated process. When you have these huge institutions shoveling 40 and 50 million dollars (or much more) at a time into the market, just follow along. Hitch a ride on the trend.
Stay the hell away from news trading. Then you won't be posting hateful sob stories about your broker in a forum like this. YOU DON'T NEED TO TRADE CURRENCY ON NEWS TO MAKE SERIOUS MONEY.
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| Rating: Not Rated Submitted by: jtrader Detroit (21.04.2008 19:05) |
Back again with another morsel of hopefully helpful insight. There will be some who'll vehemently disagree, but IMO, an IB can be most helpful to newbies. Plain English, an "introducing broker". Do your due diligence and find one you like by Googling. IMO, the real bucket shops tend not to be listed by prominent IBs.
Apparently, the TV infomercials love to preach that forex is a 'round the clock rockin' money machine. Poppycock. First, don't trade on news days unless you have a really high tolerance for loss, no matter which broker you use. Next, come to the sandbox to play on Tuesdays, Wednesdays and Thursdays. Exceptions, NEWSDAYS. Use your preferred software that alerts you to TRENDS. Trade ONLY into a trend. It's the least risky, most profitable strategy you can employ. Set your trailing stop and ride that trend 'till it ain't no more!
Wanna get rich in forex? Go lightly on your leverage, heavy on your account compounding ...and get good at spotting trends.
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| Rating: SCAM Submitted by: Jim Johnson (21.04.2008 21:34) |
| 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!!! |
| Rating: SCAM Submitted by: Leo (13.05.2008 02:36) |
If you loose with them they are sweet to you , as soon as you start gaining it back they will freeze your account, platform doesn't work on news, and slippage is out of control
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| Rating: SCAM Submitted by: malaysian forex newbie (17.05.2008 15:28) |
| FXCM is S*ck and SCAM..i trade 2 mini lots and set stop loss 25 pips..but suddenly stop loss change to 45 pips..Why? |
| Rating: SCAM Submitted by: John Jay (02.06.2008 17:22) |
| DO NOT OPEN NEW ACCOUNT. CLOSE YOUR EXISTING ACCOUNT. DOCUMENT ALL ILLEGAL ACTIONS. REPORT TO THE PROPER GOVERNMENT AUTHORITIES. TAKE LEGAL ACTION. |
| Rating: Submitted by: Amir Saleem (09.06.2008 17:15) |
I think People are slandering all the firms of Forex in this website there is no firm left so we can trust and make our trades so all are scams no more trading 1.8 trillion business per day is now going to stop only banks and interbanks will be doing trading Guys I thought that these people are rainbow chasers and posting their unsuccessful ideas here no one is here having any payment issue all are having some technical faults by their ends and by trading stations.
Do not Trust on these people they are Newbies. |
| Rating: Not Rated Submitted by: jtrader Detroit (12.06.2008 07:44) |
Why do 95% of retail currency traders lose all their money? Is it all because FXCM is a big ripoff? Is it because FXCM is one of the classic \"bucket shops\"? Is it possible there\'s any more of an issue than this?
If I sit in front of my computer and \"day trade\" currency with a slot machine mentality, I\'m gonna lose money. And if I must do this on so called \"news days\", using 100 to 1 leverage, I\'m gonna lose lots of money much faster. My choice of a broker is not the core issue.
Forget your news trading. Do what the banks do. Model the world\'s biggest corporations. Trade at low leverage and enter a TREND. Ride that trend like a surfer rides a wave with a 20 pip stop loss until your preferred software tells you the trend is finished. That could be 24 hours, or as long as 2 to 3 DAYS.
At least until you\'ve proven to yourself that you consistently make small amounts of money trading at very low leverage, DO NOT TRADE at high leverage. Start with very LOW leverage and come up slowly. Really slowly. If you are trading at low leverage with proper account management AND you enter a trend, there\'s no reason to sit in front of your computer. Let the trading platform do it\'s work and go about your daily routine . Go grocery shopping. Or go play.
And to head-off my many critics at the pass, NO, I do NOT work for FXCM. But I know that forex will take all your money and smile about it ...if you come to the table with that \"slot machine mentality\".
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| Rating: SCAM Submitted by: Joseph (12.06.2008 14:54) |
| When you trade their demo account, you will always be in profit. The moment you open a live account with them, you will never see your money back. Guys, all forex brokers are theives. Do you think they will let you earn money. Never. You will always end up in losses. No broker will ever let you EARN THEIR MONEY. Get out of Forex Market as a whole. Forex is only for banks and governments to play around. Don\'t get caught in this mudslide. |
| Rating: Submitted by: fx_mentor at yahoo com (16.07.2008 22:08) |
Ok all of you wankers out there here is the real deal on FXCM and ANY retail fx broker!!!!
Quit YOUR Wanking!!!!!
FXCM is an upstanding and genuine broker. I tread with them every single day from market open till market close. I make money with them every day!!! Thats right Wankers!!! I make tones of money EVERY SINGLE DAY!!! I use FXCM - and for those who think I may be talking them up go take a big fat lunch - I\'m a currency trader!!!! All of YOU Wankers ARE NOT!!! that is plainly evident when reading your lame reviews about them. I\'m sure you WANKERS have posted lame reviews about other brokers as well...
To continue with my rant about you WANKERS think of this for a moment... IT\'S NOT EASY AS A VIDEO GAME KIDS!!! Clearly you wanks have no clue about trading forex at all. Do you think you can watch a tick chart and make 2 bucks or 10 bucks and call it a day??? You are all wanking about losing your money because you ALL have no idea how to trade.... Do you think you can set a 10 or 20 pip stop loss and blame the broker because you got taken out and lost money? GROW UP AND WAKE UP WANKERS!!! Before you trade forex learn something about trading first!!! Some comment on day trading and losing your money - BLAH BLAH BLAH it\'s all Wanking do you expect to profit in 10 minutes??? Wanker!!! I\'m sorry to rant like this but YOU all need to know the real deal on FXCM from a REAL trader who make REAL money - They are a good broker!!!! Period!!! nothing else to say about that.
Here is the deal with FXCM and ANY broker! - Slippage is always going to happen in high volatility with ANY broker!! Got that? Is it sinking in yet? Wanker! Complaining about Demo accounts is purely a newbie thing to do. Demo accoutns on ALL platforms take less priority than REAL accounts.. Got it? Sunk in? GOOD
Now listen up WANKERS!!!
If you think your a trader and lose money thats your fault! Got it? Sinking in yet? Don\'t blame the broker for YOUR STUPIDITY!!!! This B.S. about them trading against you and their indicators showing incorrect information... Well you really do need a big lunch because if your trading based on charts and indicators - you have no idea how to trade AT ALL!!! Got it? Sinking in yet? !!! Wanker!!! Trading currency is risky and you need to evaluate your level of risk tolerance - If you get into a trade because you see somehting going up on a chart and think you wanna catch the wave... GET A BIGGER LUNCH WANKER!!! The reason I\'m ranting like this is because YOU ALL insult my intelligence by these false claims of \"they will take your money\" - or \"they work against their clients interests\" I have no doubts in my mind that you are probably the type to save your money and place it in an ING bank account to earn your measly 3.5% interest. Keep doing it because it\'s the only way you will keep your money. What the hell do you think your bank wants? YOUR SERVICE FEES WANKER!!!! Go play online poker if you want to gamble WANKERS!!!
Back to the real deal with this broker:
Here are the bad things:-
1: Slippage during volatile times (every broker has it) don\'t complain and whine about losing money because you already know there is slippage so why trade during these times? Just to catch 20 or 30 pips of profit? WANKER!! Do your research before you trade and you won\'t care about slippage because your not SCALPING!! WANKER!!!
2: Fluctuating PIP spreads - this is a bit of a complaint for me since they can go as high as 40 pips on exotic pairs like EUR/TRY or GBP/NZD but Spreads should never determine your assesment of a trade becasue if your only looking to gain 20 or 30 pips you probably shouldn\'t be trading at all - WANKER!!!
3: A limit of only 12 pairs available at any one time in the Trading Station - This is a complaint I have but it\'s not really a big one since I make tones on any pair I trade so no biggie, but it would be nice to have access to all pairs offered.
Now the good points:
1: Pairs - FXCM offers a few pairs you will NOT see anywhere else. This is an advantage.
2: excellent charts for the standard trading station - They are free - If you want better charts go to the SCAMS that charge money for them WANKER!!!
3: Low Spreads on Majors - Some of the lowest I\'ve ever seen like GBP/USD 1.2 pip spread! or EUR/USD 1.0 pip spread Very nice!
4: Fast service for REAL TRADERS!!! Got it? Sinking in yet? I have no complaints about their service at all!!! Besides a few technical issues I had with them, which were purely technical computer type issues. They are prompt to answer my emails and have been extra courteous in terms of offering training for free. You don\'t ger that stuff from other brokers unless you PAY for it. Got it? Sinking in yet?
5: Most importantly - Have never had any problem getting profits cashed in and wired to my sweet ol bank account. They are an NFA member which puts me at ease knowing they are regulated. I have read other WANKERS report that they get treated poorly as if FXCM wants to keep your money. Go HOME WANKERS. I get money wired to me every single month - it\'s a lot of money too... never had any problem collecting from them and when I withdraw they send it within 24 hours like clock work and it\'s in my account about 12 hours after that!
So you see if you were a real trader you would not think like these WANKERS here complaining about losing their money because you would know HOW to trade. I rarely use charts and if you rely on them to trade you should really stick to your day job because thats your only ticket to retirement - to say this is a game that only big banks play is clearly a wanker that has no clue. I built a fortune from a mere $1000 USD investment - Thats right a fortune of over $500,000 from only $1000
If you really want to know how to trade and do the same thing - Pay me to teach you and you too can do it. I will teach you the right way to trade!!!!
Quit your whining and take control of yourself and your thoughts make better trades!
All of these reviews are complete BUNK!!!!
fx_mentor @at@ yahoo dot com
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| Rating: Not Rated Submitted by: Mrs. Cruff (22.07.2008 19:04) |
The offensive hyperbole written above by fx_mentor at yahoo com, is a scam in itself. Look at the end where he\'s written;
\" I built a fortune from a mere $1000 USD investment - Thats right a fortune of over $500,000 from only $1000
If you really want to know how to trade and do the same thing - Pay me to teach you and you too can do it. I will teach you the right way to trade!!!! \"
So you want us to pay you to teach us all to play FX because you recon you made $500\' 000 from only $1000. Where\'s the evidence WANKER? How do we know your not just some scammer prick. If your making so much money on the forex how come you want to waste time teaching WANKERS? Who would trust someone who uses 4 exclamaition marks after a word, one is too many. Go f*ck yourself WANKER.
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| Rating: SCAM Submitted by: awilson (25.07.2008 12:50) |
| They have all the bells and whistles, but don\'t be fooled they are the BIGGEST BANDITS in the forex world !!! |
| Rating: Submitted by: ali (11.08.2008 10:34) |
Its easy to blame others when one loose money, my experience so far is very good with FXCM.
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| Rating: SCAM Submitted by: thieves (11.08.2008 17:54) |
| We are a huge Bank, they trade againt their clients, very dishonest, we lost 1.9Million Dollars in just 4 months, please do not trade with them, we are in court for this matter. |
| Rating: Submitted by: Daltonus (16.08.2008 00:01) |
For me, FXCM is very reliable. I never trade for 20-30 pips, so I don\'t bother to look if I was jacked for 2-3pips. I am after 100-1000 on daily, weekly or monthly trends. If you are trying to scalp 20-30 pips profit on $500 for the day - get a job, it would be easier. This is stressful and not worth the effort.
I have never been delayed on EUR/US trades. GBP/US has been slower, especially on a big event. But that\'s life. I usually have my position set long before any news anyway.
Software crashes frequently (2-3 per day), especially when I have too many charts going, but it relaunches itself within 10 seconds. Big deal, if you are trading every 10 seconds - good luck with that. Microsoft crashes 5X per day for me, so its an improvement.
Just about every on-line stock broker has the same complaints. Stop loss problems, slow execution, spread problems, front running. Why would they want your measly $500 by nefarious means when you will lose it to me anyway.
Start reading the global news, watch the trends and stop trying to bag 20 pips by luck. Its a job. I spend 16 hrs per day and then some. But I make great money at it.
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| Rating: SCAM Submitted by: Bluemeanie (20.08.2008 15:02) |
Seriously, having had a demo account for two weeks, I would never give these jokers my money. Before some idiot from FXCM says I don\'t know how to trade, the account is very profitable despite the problems I\'ve encountered with their software.
Stop hunters, you bet they do. You\'ll be amazed how far off the actual price they will go to stop you out. Taking that into consideration,they won\'t fill your limit orders.
Also, try closing out a profitable trade on a profitable account. It\'s almost impossible as all manner of pop ups you\'ve never seen before stop you closing your position. What a joke.
These people are such scammers they\'ve been ripping off my paper account lol. Don\'t give them your money!
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| Rating: Not Rated Submitted by: azhan (27.08.2008 04:06) |
For me, I never have problem with FXCM. They are very constant, good account managing. I\'ve open mini account and got well supported 24Hrs either from Hongkong office, Dubai Office or from their head quarters.
Withdrawal also get well as promised. My withdraw USD1000; USD500 and others was smooth.
This forex investment was very challenged and dangerous placed.
up to yours to make decision. |
| Rating: SCAM Submitted by: ANDRES LEIVA (02.09.2008 01:58) |
Total Scam:
1- High level of slippage.
2- Big rollover or overnight fees.
3- Poor execution if the costumer order is not favorable to the company interest. Some times fill out is more than 2 minutes or till you’re loosing money (even in low demand times).
4- Bad costumer service including no product knowledge. Notice what you could expect, when the head of compliance, Walter Zuck have no knowledge of meaning of what usable margin and usable margin percentage are.
5- Other big issues not to discuss here, but if you want to know more, I\'m giving you permission to ask for MY CONTACT information to this website owner\'s. If you want to destroy those bad guys with your own claims, let’s do it together.
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| Rating: SCAM Submitted by: Eric (08.09.2008 18:52) |
| I opened a micro account a \"MICRO\" and when the market took off in my favor on Nfp this pass friday they wouldnot let me close my positions until it retraced and then they had the nerv to give me a margin call..lol wow!!!! |
| Rating: Submitted by: Jeff Nellans (13.09.2008 19:20) |
| I happen to think that FXCM is a good broker. It makes me wonder when many of the people on this review board are very emotionally charged and use caps and slander FXCM with the word scam. These scam posts are littered with misspellings, and it makes me think that there is a reason that all of these uneducated people are losing money in the Foreign Exchange market. It is not a market for the inexperienced; take caution with leverage when you deal with any broker in this market. I think that is the root of the problem here. |
| Rating: SCAM Submitted by: worlhin (16.09.2008 18:19) |
I just open an FXCM micro account few days ago because of their advertisement the lower spread. I fund the account with $50 as i thought to give it a try first.
When i open the trading station, I found most of the time the spread are way higher than other broker charge. E/U spread is 3.5 sometime even 4. G/J spread is ard 13-14 pips while on their website it wrote 4 pips. When I send an email to ask abt it they told me was due to market uncertainty. Now 3 days after that the lowest GJ spread i ever see was 7.3 and that also for the split second before going back above 10.
The reason I still maintain the account is to withdraw the money, I need to pay $40 administrative fee. WTF... by the time minus $40 and few dollar for wire, I might only get cents in my account without any trading... |
| Rating: SCAM Submitted by: Aron (19.09.2008 14:34) |
| It\'s a scam. Although I\'m still using it. I trade GBP/JPY in a sell position. At 10.27am I close my position with the price around 165.6++. Somehow it was closed at 165.81+. I try to check the tick chart on 10.27pm, unfortunately the highest it goes is 165.725. How the hell it closed at 165.81+? There\'s been a few times things like this happen. But I guess I got to comfortable using FXCM platform. :) |
| Rating: SCAM Submitted by: jj (23.09.2008 03:12) |
| It is a very suspicious looking platform, I have not done live trading but something does not look right. |
| Rating: Not Rated Submitted by: Julian Ratzinger (29.09.2008 14:43) |
| I will not judge their ability as a broker for I am not with them, but dear oh dear, FXCM hits turbulance...again!Reading my 9/22/08 copy of FX WEEK it would seem that Lehman Brothers held a 10% stake of FXCM and that since their demise last week, these shares are now up for auction. Isn\'t that what happened in 2005 when REFCO, 35% share holders at the time, went bankrupt! Wow, WOULD YOU REALLY FEEL CONFIDENT KNOWING THEIR HISTORY? WOULD YOU WANT TO PUT YOUR MONEY WITH THIS BROKER?? REMEMBER, 3 STRIKES YOU\'RE OUT....ALONG WITH YOUR MONEY! |
| Rating: Submitted by: trader guy (07.10.2008 08:48) |
| FXCM is a good broker. The platform is solid. I believe most of the problems here are with the traders, not the company. Let me put it this way, if you are trading micros or minis and getting in and out of the market several times a day, you are going to lose your money, period. |
| Rating: Submitted by: big pippin (31.10.2008 15:42) |
| I\'ve only been using they\'re demo platform but I was making about 21 pips per day on other trading platforms but with them the same technique is actually losing money. It\'s like they\'re running my stops intentionally. I\'ve also seen fills at prices that don\'t exist. Not going to trade live with these guys. It\'s a shame because I love the trading platform. |
| Rating: Submitted by: SuccessfulTrader (01.11.2008 04:37) |
| ok now i know why 90% traders burn their account. ok here\'s an explanation on brokers. They make money when YOU LOSE YOUR TRADE. Every fx broker is like that. That\'s how they make profit. But here\'s another sad story. it is LEGAL for them to make you lose a trade. How to they do that?..Well their primary mission is stop-loss hunting. That\'s where they burn individuals account. So how do we overcome typical scenarios? Well, for me, I NEVER USE STOP LOSS especially when the currencies are trending. FXCM has a high reputation of being one of the best brokers at the same time the best cheaters but c \'mon how on earth are they suppose to make profits? Second way on how they burn your account is manipulating their spreads. So you have to be very carefull in fx trading and use metatrader instead of their marketscope. For me FXCM is NOT a SCAM but they just have a smart way of making profits for their company. So i assume everyone who says FXCM SCAMMERS are newbies and do not a thing about how the fx markets works with brokers. |
| Rating: Submitted by: annon (03.11.2008 08:40) |
You dumb f*cking morons. One minor thing that goes against your dumbass beginner ass and you come online and post that this broker is a scam? Plain morons.
This website seems like a scam - half of the brokers listed as scams are completely legit. It\'s these morons who have no clue as to what FOREX is, thinking it\'s a get rich quick type of deal, sign up to a broker, lose money then have a bitch on it saying its a scam. CLUE UP.
TELL ME WHICH BROKER IS PERFECT, WITHOUT ONE COMPLAINT? oh yeah, NONE. THINGS DO GO WRONG IN LIFE IDIOTS. And in the case of FXCM, if somethings wrong with in regard to your charting/trading platform, you take it up with the broker and they do whatever possible to try and resolve it.
DON\'T HAVE A BITCH on forums saying a COMPLETELY LEGIT broker is a scam, just because your f*cking incoherent ass can\'t grasp what FOREX really is and how to trade. |
| Rating: SCAM Submitted by: JAY (08.11.2008 10:17) |
I ASK ALL SMART TRADERS TRADING THROUGH FXCM. CAN ANY ONE OF THE TRADERS CLAIM HE HAS MADE FORTUNE TRADING THROUGH FXCM? IF ANY ONE OUT THERE I WOULD LIKE TO SEE A PROOF. I BELIEVE TRADING IS A PROFESSION BUT AS LONG AS YOUR BROKER IS WORKING AS A BROKER NOT AS YOUR COMPETITOR. I BELIEVE FXCM MAKES SURE NOBODY WALKS AWAY WITH PROFIT. YOU EITHER CAN BREAK EVEN OR END THE AVERAGE TRADE IN LOSS. THEY CAN MANAGE TO GIVE YOU MARGIN CALL EVEN ON HEDGED TRADE! THEY WIDEN THE SPREAD AS MUCH AS 60 T0 70 PIPS.
AS I SAID IF SOMEONE OUT THERE CAN PROVE ME WRONG WITH EVIDENCES AND NOT SWEAR WORDS I WILL BE OBLIGED. |
| Rating: Submitted by: RA (09.11.2008 23:34) |
| It is amazing to read some of these reviews, it is obvious that all those negative comments came from those who have lost all their money,which is true for forex trading, that is 90% of traders lose their money. I have been with them for three years, amazing customer service, great platform, and very quick withdrawals, I mean I had one withdrawal done by wire and I recevied it the same day...trading forex is not a game so if you worry about one pip or ten pips slippage then you are day trading and all I can say is good luck with that...of course they are not perfect, they do have problems like every other broker, but in general they are great.... |
| Rating: SCAM Submitted by: JP (21.11.2008 17:40) |
| What else is a person suppose to think? I have had an awful time getting in today and would like to get in and get my money out! So many different unrelated error messages, they do not make any sense. The support for a Micro acct. is awful. I would like to get to the bottom of this in maybe one or two at the most contacts with Tech Supp. but they fish you along with things already tried (tried them ALL.) In my case it is obviously something wrong with their server/station but they make you believe it is your connection, etc... Now, I understand sometimes they are dealing with brainless people that have no idea what they are doing on their computer let alone trading. And, yes we are dealing with small potatoes in Micro accts. (I am, They really are not!). Most intelligent people would start out using a Micro acct. and then maybe work up to a standard. But hey, cut to the chase and fix it! When I get my $ out I will go elsewhere. Meeting with friends/bus. owners in a few days and they are quite curious to learn of forex trading. I have learned a lot from FXCM that I will pass on. But, more importantly I will share the trouble I have had, and to NOT use their brokerage, unless something is done here quickly. To those that might respond that I should do my due diligence, been there and done that. Thanks for allowing me to vent! |
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