FXCM Discussion | Page 350 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/JPY

Similar Threads

FXCM with Sierra Charts - Discussion and alternatives 8 replies

Elliott Waves discussion 4 replies

FXCM gets another CFTC fine, while Drew Niv leaves FXCM UK board 17 replies

Euro/Dollar discussion 9 replies

Forward Testing Discussion Thread 241 replies

Attachments: FXCM Discussion
Exit Attachments

FXCM Discussion

  • #6,981
  • Edited 6:02pm Feb 5, 2015 5:21pm | Edited 6:02pm
http://www.forexlive.com/blog/2015/0...-uk-customers/

Administors release advice to Alpari UK customers – Will be looking to recover negative client balances
January 20th, 2015 13:51:36 GMT by Ryan Littlestone View Comments
KPMG, the administrators for Alpari UK customers have released an FAQ on the current situation.
Here’s the key points

  1. Client money held in segregated accounts where there are sufficient funds to repay all eligible clients in full will be returned to clients. One of the immediate priorities of the special administrators will be to establish the claims against the segregated accounts.
  2. The costs and expenses of dealing with and distributing client assets (which include client monies) are paid out of client assets. Other costs and expenses are paid out of the firm’s assets
  3. Q. What does this mean for retail clients with open positions/cash balances? A. All clients with any open positions had their position closed out as at the close of the markets on Friday 16 January 2015. On administration, there is a pooling event under the FCA’s Client Asset rules, which means that all clients are entitled to share on a pro-rata basis in the client money pool.
  4. Q. Does Alpari (UK) Limited have a client money deficit? As far as the special administrators are aware, Alpari (UK) Limited does not have a client money deficit, however the special administrators need to reconcile the position before they can confirm this
  5. Q. What if I owe Alpari (UK) money? A. You will be asked to pay that money. We will write to you with details of where the money should be paid.

The full article is here KPMG Alpari UK Frequently asked questions

TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #6,982
  • Feb 5, 2015 6:37pm Feb 5, 2015 6:37pm
February 2015 Trading Station Desktop Update

The next update for Trading Station Desktop will go live after trading closes for the weekend this Friday at 5pm New York Time. After that, your platform will update automatically the next time you log into it.


Trading Station What’s New FAQ - February 2015 Update

The latest Trading Station Desktop update adds many new features to enhance your trading experience.


Summary:

  1. New! Market Behavior Indicators
  2. New! Set Entry Order expirations to any future time
  3. New! Show or Hide Candle Gaps
  4. New! Run Reports in Your Time Zone
  5. New! 176 Other Performance Enhancements



Details:

Inserted Video



Real Volume and Transactions
Experience five ground-breaking indicators based on FXCM’s trading book. Each indicator gives you a real look at market behavior and trading psychology by showing you what the crowd is doing.

  1. Real Volume and Transaction Indicators
    With these two indicators, get the inside view of FXCM clients’ actual order flow on 14 of our most popular currency pairs.
    Directional Real Volume Indicator
    Display long, short, net and total values of FXCM’s real volume individually as opposed to total value only.
    On Balance Real Volume Indicator
    A supplement to the On Balance Volume indicator, On Balance Real Volume utilizes real volume as opposed to tick volume.
    Market Movers Index Indicator
    Find the smart money—Market Movers Index shows the ratio of real volume divided into transactions per period, so you can see conviction behind breakouts.


Good-Till-Date Entry Orders
Now you can add a specific expiration to your entry order. Set your entry order to expire tomorrow, next week, next month or after large news events.

Show or Hide Candle Gaps
When an instrument closes at a different price than where it opened, a candle gap can occur. Now you can show or hide candle gaps, giving greater accuracy to your indicators and strategies.

Run Reports in Your Time Zone
The Combined Account Statement now automatically reflects the same time zone as your platform.

Performance Enhancements
We've made 176 performance enhancements to improve order execution and further stabilize the platform, along with many other polishes to functionality to optimize your trading experience.

  • #6,983
  • Feb 5, 2015 7:28pm Feb 5, 2015 7:28pm
Quoting newzTrader
One thing for sure. If FXCM gets out of this mess, it will be the biggest, reputable, credible and profitable Retail Forex House. But, the question remains is, would their Leadership do it and is FXCM Org capable of doing that?

Clearly you have to be an employee of fxcm. THESE GUYS ARE CROOKS! The only thing fxcm is capable of doing well is shafting their customers, it certainly is not risk management. Does anyone that posts on this thread actually do research on the broker they choose to do business with, apparently NOT, because if you did you would not trade with a firm like this.

I have never been a customer of fxcm but I was a pfg forex customer and got shafted royally by them for a lot, I just don't want to see anyone else have the same issue. If you are going to trade sport forex do it with a reputable broker ( this means a broker that has not been repeatedly fined, sued, etc,) or go trade currency futures with a firm that keeps your funds in fdic or spic insured accounts.
  • #6,984
  • Feb 5, 2015 7:34pm Feb 5, 2015 7:34pm
Quoting endroute
{quote} I was a pfg forex customer and got shafted royally by them for a lot, I just don't want to see anyone else have the same issue. If you are going to trade sport forex do it with a reputable broker ( this means a broker that has not been repeatedly fined, sued, etc,) or go trade currency futures with a firm that keeps your funds in fdic or spic insured accounts.
Same house of pain here :-(
  • #6,985
  • Feb 5, 2015 8:05pm Feb 5, 2015 8:05pm
Quoting endroute
{quote} I just don't want to see anyone else have the same issue. If you are going to trade sport forex do it with a reputable broker ( this means a broker that has not been repeatedly fined, sued, etc,) or go trade currency futures with a firm that keeps your funds in fdic or spic insured accounts.
The problem is in the US, the NFA doesn't give us the option to trade with a reputable broker. There are 5 left in the US and none are a good choice. Brokers regulated in other countries have apparently been strong armed by the NFA to not accept US clients. So, basically the NFA feels they regulate forex worldwide, not just the US. So you spend 5 years perfecting your craft, earn a good living to support your family and the NFA feels they don't want you to trade spot forex, because futures trading is down 60% since 2008. It is the most corrupt, manipulated government in the world. Really sad.
  • #6,986
  • Feb 5, 2015 8:08pm Feb 5, 2015 8:08pm
Quoting endroute
{quote} Clearly you have to be an employee of fxcm. THESE GUYS ARE CROOKS! The only thing fxcm is capable of doing well is shafting their customers, it certainly is not risk management. Does anyone that posts on this thread actually do research on the broker they choose to do business with, apparently NOT, because if you did you would not trade with a firm like this. I have never been a customer of fxcm but I was a pfg forex customer and got shafted royally by them for a lot, I just don't want to see anyone else have the same issue. If you...
Ghost Rider - WWTBMD?
  • #6,987
  • Feb 5, 2015 8:31pm Feb 5, 2015 8:31pm
Quoting Profit Daily
{quote} The problem is in the US, the NFA doesn't give us the option to trade with a reputable broker. There are 5 left in the US and none are a good choice. Brokers regulated in other countries have apparently been strong armed by the NFA to not accept US clients. So, basically the NFA feels they regulate forex worldwide, not just the US. So you spend 5 years perfecting your craft, earn a good living to support your family and the NFA feels they don't want you to trade spot forex, because futures trading is down 60% since 2008. It is the most corrupt,...
I have nothing bad to say about oanda, yes they have issues and their spreads really suck around news time but was able to work around it. When I first started trading spot forex I traded with Forex.com/gain capital and they are on par with fxcm, a bunch of crooks, and I really don't know much about the others. In terms of fx futures volume so far it has not been an issue during the main trading hours, but I am only trading 2 currencies atm among the handful of financials and ags I am trading. I really love the ulta t bond contracts and wheat
  • #6,988
  • Feb 5, 2015 8:59pm Feb 5, 2015 8:59pm
Quoting endroute
{quote} Clearly you have to be an employee of fxcm. THESE GUYS ARE CROOKS! The only thing fxcm is capable of doing well is shafting their customers, it certainly is not risk management. Does anyone that posts on this thread actually do research on the broker they choose to do business with, apparently NOT, because if you did you would not trade with a firm like this. I have never been a customer of fxcm but I was a pfg forex customer and got shafted royally by them for a lot, I just don't want to see anyone else have the same issue. If you are going...
a BIG NO to what you said. I am not employee of FXCM.

I guess, you did not fully get what I intended to convey.

Though it gives great opportunity for companies to prove their worthiness by rebuilding, sadly most companies choose the easy way.
newzTrader
  • #6,989
  • Feb 5, 2015 9:39pm Feb 5, 2015 9:39pm
Quoting albchr
Process my FUCKING withdraw request as per the agreement! NOW!!! My attorney is just itching for a shot at you fucks. Not sure how long I can hold him back anymore. Being he's offered his services for free? Not sure I should anymore either. Get it done!!!!
Classy. I picture something like this when you sic your bull dog of a lawyer on them. Please keep us posted (video would be great).

Inserted Video
  • #6,990
  • Feb 5, 2015 10:04pm Feb 5, 2015 10:04pm
Quoting zznbrm
{quote} Classy. I picture something like this when you sic your bull dog of a lawyer on them. Please keep us posted (video would be great). https://www.youtube.com/watch?v=6QCFhFh3hjE
Admittedly, not one of my finest moments ... (that's why I removed it) ... but ... ya know?

Great clip! .... eerily reminiscent of the tone on a recent phone conversation I had with him when I suggested we wait ... just one more week.
Ghost Rider - WWTBMD?
  • #6,991
  • Feb 5, 2015 10:16pm Feb 5, 2015 10:16pm
I have had quite a pleasant experience with FXCM until Jan 15 too, and my negative balance is not yet reset, or "forgiven". Not only that FXCM is not answering any of my queries, they are changing wordings about their no debt policy here and there.

let me ask, is the no debt policy still your policy? or has it ever been your policy? If it is not nor has never been your policy, simply tell us that it is not but please stop pretending that you are offering a nice safety net and mislead your ignorant clients (I have to admit that I was to stupid to have trusted them) to believe that they are protected and when shxt comes you refuse to honor the protection.

no way i will trust this company again.
  • #6,992
  • Feb 5, 2015 10:45pm Feb 5, 2015 10:45pm
Quoting zznbrm
{quote} Classy. I picture something like this when you sic your bull dog of a lawyer on them. Please keep us posted (video would be great). https://www.youtube.com/watch?v=6QCFhFh3hjE
Great clip.
  • #6,993
  • Feb 5, 2015 11:38pm Feb 5, 2015 11:38pm
Quoting kgl6kgl6
I have had quite a pleasant experience with FXCM until Jan 15 too, and my negative balance is not yet reset, or "forgiven". Not only that FXCM is not answering any of my queries, they are changing wordings about their no debt policy here and there. let me ask, is the no debt policy still your policy? or has it ever been your policy? If it is not nor has never been your policy, simply tell us that it is not but please stop pretending that you are offering a nice safety net and mislead your ignorant clients (I have to admit that I was to stupid to...

I only received one email from them, what other emails have you received? Could you post them
  • #6,994
  • Feb 6, 2015 1:05am Feb 6, 2015 1:05am
Quoting tasco
{quote} I only received one email from them, what other emails have you received? Could you post them
I have only received 1 couple weeks back too, but is expecting the demand letter any time soon as people are getting it in other countries over the past week or so.
  • #6,995
  • Feb 6, 2015 4:42am Feb 6, 2015 4:42am
I am a newbie here.

I just received an email from FXCM

FXCM has formally decided to give up the "no debt policy".

https://ci4.googleusercontent.com/pr.../fxcm-logo.gif繁體 | 简体
Dear Client,
Please note that FXCM Asia has updated the Client Agreement and all changes are effective from 9 March 2015.
The update refers to the amended section 13.2, amended section 32, amended risk warning notice and deletion of section 13.3 of the Client Agreement. These changes modify the client liability for any debit balances in client’s account(s). In specific, clients shall at all time be liable to FXCM for any debit balance in client’s account(s). To view changes and new contract terms, please click here. No action on your part is necessary in order to adopt these changes. Unless we hear from you before 6 March 2015, the updated Client Agreement will become effective from 9 March 2015. However, should you have any questions, please contact us.
FXCM Asia is dedicated to offering clients excellence in service through first-class execution, exceptional support and a commitment to the highest regulatory standards. If you have any questions or concerns, please contact FXCM Asia by phone at(852)2119-0116 or by e-mail at [email protected].
  • #6,996
  • Feb 6, 2015 5:49am Feb 6, 2015 5:49am
It should be clear to everyone by now that only the brokers make money in this game.
Even if they should lose money .... they will get it back by hook and by crook.
  • #6,997
  • Feb 6, 2015 6:11am Feb 6, 2015 6:11am
Quoting Mingary
It should be clear to everyone by now that only the brokers make money in this game. Even if they should lose money .... they will get it back by hook and by crook.
be frank, i don't mind that only brokers make money.

being a trader, I understand that I have to pay the commission and spread. Thus, if my skills are just average, I will surely lose in long run for paying the commission the spread.

But the point is that FXCM always announced "no debt policy" but now FXCM does not honor the promise. It is a matter of integrity.

After 15 Jan, i have read the trading agreement thoroughly. I am surprised to find such an exemption clause that I am not fully explained by the FXCM staff. I feel that I am cheated by FXCM.
  • #6,998
  • Feb 6, 2015 6:19am Feb 6, 2015 6:19am
Quoting vinshunlee
I am a newbie here. I just received an email from FXCM FXCM has formally decided to give up the "no debt policy". {image}繁體 | 简体 Dear Client, Please note that FXCM Asia has updated the Client Agreement and all changes are effective from 9 March 2015. The update refers...
This means that FXCM up until now has a no-debit-balance policy.Then why would they us they word "forgive"?Then why would they chase clients for neg balances and even THREATHEN us for a civil proceeding?Are you guys all still sticking with FXCM after they way they behaved when the s#it hits the fan?
  • #6,999
  • Feb 6, 2015 9:40am Feb 6, 2015 9:40am
as I said after SNB event whichever broker lost the most money is the One trading against their clients the most. So FXCM is the One. Now They starts doing crook, cheats, all creepy things to profit back from their clients. I see their action happening already. I am currently having an account with them via Freiberg canada with max leverage 1:30 which is sicken to my system. I am closing my account for another broker.
  • #7,000
  • Feb 6, 2015 9:43am Feb 6, 2015 9:43am
Quoting ForexDao
as I said after SNB event whichever broker lost the most money is the One trading against their clients the most. So FXCM is the One. Now They starts doing crook, cheats, all creepy things to profit back from their clients. I see their action happening already. I am currently having an account with them via Freiberg canada with max leverage 1:30 which is sicken to my system. I am closing my account for another broker.
It's the opposite. If they would have traded against their client FXCM would be most happy now...
8 traders viewing now