FXCM Discussion

G/J.

FXCM gives a message to use phone for those with issues with orders -- but I don't think it's possible for daytrading.

True, I might give them a call if I can find my phone. I need to setup an entry order for the london session. This is annoying though not being able to scalp it.

Yeah. Can't scalp.

Hopefully, this thing gets remedied soon before London opens.

It's letting me make orders now =( Wish it would have 10 minutes ago.

Yeah. Me too.

Dear FXCM Micro Client,

FXCM would like to apologize for any issues Micro clients may have experienced on the trading platform during the past 24 hours.

At 14:48:55 EST on December 11th, our rate feed, which is derived directly from bank prices, experienced a bad tick on all currency pairs. This caused the trading platform to issue erroneous margin calls and incorrectly trigger stop/limit/entry orders. This only affected FXCM Micro customers.

To resolve the issue FXCM returned client accounts back to their positions as of 14:48:54 EST. So that we could properly and quickly rectify the issue, we asked all clients to temporarily refrain from placing trades until the rollback was finished. This process was completed at approximately 23:00 EST.

At this time, the platform is functioning normally and clients can resume trading.

If you feel you have a position that was not properly rectified, please log a trade inquiry here: http://www.forexmicrolot.com/support-question.jsp. The FXCM Micro team will review your account for any adjustments that should be made.

Once again, we hope you will accept our apology for the inconvenience and thank you for your patience.

Best regards,

FXCM Micro
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005
www.fxcmmicro.com

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 Micro 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 Micro 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 e-mail is not a solicitation to buy or sell currency. All information contained in this e-mail is strictly confidential and is only intended for use by the recipient. This communication was sent from a non-monitored alias e-mail account. All replies should be sent to [email protected]. Replies sent to [email protected] will be received by the FXCM Micro corporate e-mail system and are subject to storage and review by someone other than the recipient.

Okay, so at 14:48 EST the EuroYen was at 122.20 and by 23:00 EST it traded to 121.40, not to mention that
in the next 25 minutes it rolled off 400 pips down to the 117's before bouncing right back before day's end.
I guess if you were short you were happy (maybe) and if you were long you got clusterfu*kked both ways.
Still the platform glitch has got to be annoying as anything could be for someone trading over there.

Does anybody remember Michael Douglas in "Falling Down", a movie about 20 years back ?
He was having, "...a really bad day.." and finally had enough and went over the edge.

Obviously, his character in the movie never traded forex with these market makers,
or he would have still been shooting people 20 years later.

At the beginning of every week it seems its getting harder and harder to log on to there server. About 2 week ago I couldn't log on and they said they were controlling risk because of several institutions that had crashed and caused volatility in the market. Then 2 days later I received an email stating they had a server down , which one is it. This week i'm still trying to log on to my account. I called the trading desk and they said to send an email and just hung up on me without even letting me ask other questions I had. This is the first time I have a live account and my demo is with alpari. I had decided to go with fxcm cause I felt my funds would be more secure, but after seeing the problems and lack of customer service I will be changing my live account elsewhere. Just thought I let that out to anyone thinking of opening a live account with fxcm.

Thats strange, I havnt had an problem login in.

I am currently trading a full size account (with a very small balance) and the stress has taken all of the fun out of trading ...

Anyway, now I am looking for a micro or mini account and FXCM seems like a great place.

My my concern however for the micro account is the lack of customer service. I am still a new trader but have already experienced the times when the connection fails, or the platform fails and your not able to manage your trade.

Am I correct in that FXCM Micro only has email support? and I can not call in to check on / get out of a position?

Secondly, I haven't been able to set up multiple profit targets per order in the demo account ... is this possible? (for example I am long 3 micro lots (3000) and I want to set an order to sell 1 lot at a certain PT, then 1 lot at another PT, and let the final lot run ...)


Thanks

the same with kokolaym, I don't have any problem with FXCM in the past few days, I trade in micro account. Wasn't it ur internet connection?

So far I haven't had log-in problems, but I do have other problems with FXCM:

I've got a live account that is traded with MT4. Today at appr. 06:30 server time, I tried to close a USDCAD position. The feedback from the server was 'Order accepted', however, this 'accepted' order didn't get executed at all.
As the price action was moving away from my intended stop (of course in the wrong direction) I decided to cancel that order and try again - this was more than a few minutes after my order was 'accepted'. From now on, I only get 'trade context busy' feedbacks from the server, this situation is currently going on for more than an hour, I simply can't get that wretched position closed...

Yes, it was a mental stop that needed to be executed and yes, there's another one in place, but too far away for comfort....

I've only been trading through FXCM for two weeks now, and this first hickup is a rather fundamental one.

Anyone else around here with similar experiences? If so, could you resolve these?

cheers
Okha

it amazes me how people still open live accounts with FXCM even though they have the worst reputation out of all FX brokers. I feel no pity for those that get ripped off by FXCM. Who ever is going to invest in any investment firm should always look into it. And if anyone looked into FXCM's closet, they would have found more than skeletons.

hi i have got a small acc with them (mini) and i am very pleased with the service acc execution and spreads

I have a EA that trades on FXCM thru Collective2 and notice major slippage!! Makes me wonder where the hell these guys are getting their prices from. Sometimes it seems they're just making them up.

I've heard they have a lot of troubles with connection. I am trying to become a price action trader so I better keep away from them.

I have traded many full lots with FXCM almost everyday for the last 18 months.

Without getting into the issue of crazy recent spreads, since that is beyond their control for the most part, I can say that the execution and technology at FXCM have gone completely insane for me.

And the service, probably reflecting all their issues, is plain awful. Beyond Awful.

So awful that I do not want to express all the issues here in a public forum as I am taking action against them through other channels.

The latest issue (not slippage, okay) cost me enough that I actually tried to resolve it with them. Usually I let little issues go since fighting them takes too much time and sometimes they go in your favor so it all works out in the end.

But recently the troubles have been so bad that I feel safe telling you here in this public forum that I tried for 8 days to get anyone to even address the issue and still had no luck until I had my lawyer send them a letter.

They did not fix their issue but someone at least took my call without hanging up on me.

I assure you that I was professional, and that I am a long time customer, and that I remained courteous at all times.

I cannot recommend what anyone else does with their money, but I will be going elsewhere.

Any referrals from traders who trade full lots on the majors and GJ?

I have two suggestions.

1)Dont open an account with just one broker.
2)Find some decent ones. I use OandA and MGforex.

Times are hard, and you always need to be safe. I have looked into a lot of brokers, but I found these two to be the best in the market.

wow.... thanks for the information guys, I surprised honestly, I just trade in FXCM about 2 week and still have no problem, but with all the comments above me, I think I should find another broker