http://www.ft.com/cms/s/0/66e972dc-9...44feab7de.html
Why would anyone trade forex?
By Jonathan Eley
The odds are stacked against the retail investor
he Financial Conduct Authority has today fined FXCM £4m for a practice it euphemistically
termed “asymmetric price slippage”, and which most of us would describe as ripping off
clients.
The UK part of the company, whose parent is listed in the US, accepted foreign-exchange trades
from retail clients and placed them with other FXCM Group units. “FXCM group kept profits from
favourable market movements between the time the orders were placed and executed, while any
losses were passed on to clients in full,” the FCA found.
In addition, the UK part of the company failed to tell the regulator that it was being investigated in the US for similar.
etc
*************
I have to agree. I am giving up on fx completely. You cant find a honest broker. The markets are manipulated and bankers are getting caught left and right in every single bank and institution.
Why would anyone trade forex?
By Jonathan Eley
The odds are stacked against the retail investor
he Financial Conduct Authority has today fined FXCM £4m for a practice it euphemistically
termed “asymmetric price slippage”, and which most of us would describe as ripping off
clients.
The UK part of the company, whose parent is listed in the US, accepted foreign-exchange trades
from retail clients and placed them with other FXCM Group units. “FXCM group kept profits from
favourable market movements between the time the orders were placed and executed, while any
losses were passed on to clients in full,” the FCA found.
In addition, the UK part of the company failed to tell the regulator that it was being investigated in the US for similar.
etc
*************
I have to agree. I am giving up on fx completely. You cant find a honest broker. The markets are manipulated and bankers are getting caught left and right in every single bank and institution.