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FXCM Discussion

  • #8,041
  • Sep 10, 2015 10:20am Sep 10, 2015 10:20am
Quoting ZeF
https://www.macroaxis.com/invest/rat...-Of-Bankruptcy {image}
I dont have an account with FXCM anymore but the link is kind of pointless!

On the same page E-Trade, Goldman Sachs and Morgen Stanley are all listed as more llikely to become bankrupt in the next 2 years.
  • #8,042
  • Sep 10, 2015 11:02am Sep 10, 2015 11:02am
Quoting Phylo
{image}http://www.financemagnates.com/forex...-underperform/
Hi Phylo,

We understand how important financial transparency is to our traders and intend to remain listed on the NYSE. That's why we announced in July that our Board of Directors approved a 1-for-10 reverse stock split to be voted on by shareholders later this month. Here's a link to the full press release: http://bit.ly/1QqVROD

While I'm not authorized to comment on our stock personally, you're welcome to contact our Investor Relations department with any related questions: http://bit.ly/1SEYg7W
  • #8,043
  • Sep 10, 2015 11:20am Sep 10, 2015 11:20am
Quoting Jason Rogers
{quote} Hi Phylo, We understand how important financial transparency is to our traders and intend to remain listed on the NYSE. That's why we announced in July that our Board of Directors approved a 1-for-10 reverse stock split to be voted on by shareholders later this month. Here's a link to the full press release: http://bit.ly/1QqVROD While I'm not authorized to comment on our stock personally, you're welcome to contact our Investor Relations department with any related questions: http://bit.ly/1SEYg7W
if i had a million dollars i will buy 1 million shares, i believe price will go up from here
  • #8,044
  • Sep 11, 2015 6:12pm Sep 11, 2015 6:12pm
Quoting ZeF
https://www.macroaxis.com/invest/rat...-Of-Bankruptcy {image}
how do we figure out the probability of a customer losing their cash at FXCM if they go bankrupt?
  • #8,045
  • Sep 11, 2015 8:35pm Sep 11, 2015 8:35pm
As a retail account holder you would be LAST in line to recover ANY money owed. The news concerning FXCM is not good. I got burned (bad) in 2008 as several brokers I traded with went under. I recovered just 550 bucks after 6 years. I dont really care what anyone does but I wouldnt trust a dying company (industry really) with any large deposit.
FF = Forex Faggots
  • #8,046
  • Sep 13, 2015 6:49am Sep 13, 2015 6:49am
Hey jason, I just noticed that fxcm started a new mini account, in which it is DD order execution, does the standard account type cost money to upkeep, and what are the commissions different than what it was before the mini account was introduced? Also how do you switch from mini to standard?
  • #8,047
  • Sep 13, 2015 9:04pm Sep 13, 2015 9:04pm
Jason, as I mentioned on another thread, I have a problem with opening TS2. Typically I don't turn off my computer, but just leave it is a sleep mode. When I try to login to my FXCM account using the TS2, it takes a long time for the software to process that request and then it shuts down itself. A window pops up that the TS2 encountered a problem. (Please see the attached images). Since I don't use any software to send emails on that computer, I cannot send a report through that window that pops up. I have this problem since the last major TS2 update, which was quite a while ago. For some time I was able to log in after 2-3 attempts. Recently the problem got more severe. It happens every time whenever I try to log in and I have to try even more than 10 times before I can finally log in. I have restarted my computer several times since having that problem, but it doesn't seem to help. Please advise what else I can do in order to solve that problem.
Attached Image (click to enlarge)
Click to Enlarge Name: TS2 problem2.PNG Size: 27 KB
Attached Image
  • #8,048
  • Sep 14, 2015 3:04pm Sep 14, 2015 3:04pm
Quoting cyguy
Hey jason, I just noticed that fxcm started a new mini account, in which it is DD order execution
Hi Cyguy,

FXCM lets you choose between three different account types: Mini, Standard and Active Trader http://bit.ly/1gxrZfy

Quoting cyguy
does the standard account type cost money to upkeep
The minimum to open a Standard account is $2000. There is no cost to maintain this account type unless your account falls below $1500 in which case there's a $10 fee per month.

The minimum to open a Mini account is $50 and there is no cost to maintain this account type regardless of your account size.

Quoting cyguy
are the commissions different than what it was before the mini account was introduced?
Commissions for a Standard account remain as before: http://bit.ly/1shNooZ

Quoting cyguy
Also how do you switch from mini to standard?
You may switch from a Mini to Standard account when your account balance goes over $2000. Note that Mini accounts with a balance over $20,000 are automatically switched to Standard.
  • #8,049
  • Sep 14, 2015 3:54pm Sep 14, 2015 3:54pm
Quoting Aneczka
Jason, as I mentioned on another thread, I have a problem with opening TS2. Typically I don't turn off my computer, but just leave it is a sleep mode. When I try to login to my FXCM account using the TS2, it takes a long time for the software to process that request and then it shuts down itself. A window pops up that the TS2 encountered a problem. (Please see the attached images). Since I don't use any software to send emails on that computer, I cannot send a report through that window that pops up. I have this problem since the last major TS2...
Hi Aneczka,

Thanks for providing these screenshots. I've forwarded them to our tech support team. It will help them investigate this issue further if they can troubleshoot this issue for you over the phone. Please send me a private message with your contact details so I can arrange a follow up for you.

Thanks,
Jason
  • #8,050
  • Edited 5:02pm Sep 14, 2015 4:52pm | Edited 5:02pm
FXCM is doing pretty good it seems like.

According to their own SEC filling, they lost only USD 879,222,000 in the first 6 months of 2015. That's 130M shy of USD 1BN. I think they will hit the 1.5BN milestone by 2016.

The only income they had, which is listed at the bottom of the page, is the $300M loan by Leucadia. That's it.

They could not make ANY money during these 6 months. They also lost about $800,000 trading currencies.

They made $22 Million from something, it's not explained - non audited.

That is your FXCM Global Corporation ladies and gentlemen.

Tell me again the story about better than ever ?


http://www.sec.gov/cgi-bin/viewer?ac...9&xbrl_type=v#

Attached Image (click to enlarge)
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Best regards, Zef
  • #8,051
  • Sep 15, 2015 1:44am Sep 15, 2015 1:44am
Quoting ZeF
FXCM is doing pretty good it seems like. According to their own SEC filling, they lost only USD 879,222,000 in the first 6 months of 2015. That's 130M shy of USD 1BN. I think they will hit the 1.5BN milestone by 2016. The only income they had, which is listed at the bottom of the page, is the $300M loan by Leucadia. That's it. They could not make ANY money during these 6 months. They also lost about $800,000 trading currencies. They made $22 Million from something, it's not explained - non audited. That is your FXCM Global Corporation ladies and...
If you look on this link here http://www.sec.gov/cgi-bin/viewer?ac...9&xbrl_type=v#, click on financial statements, and click on the first link.

It shows a break down of assets and liabilities which explains better what is going on.

Their total liabilities minus total assets ends up in the ball park of the money they borrowed.

Those big losses they posted are due to stock holders deficit.

I'm not an expert but I think they are using the collapse of their stock price as a gimmick for tax purposes.

Personally I took 90% of my money out of my account with them after the BNS problem.

My experience with them was quite good and when the dust settles and their stock price recover a bit I would have no problems filling up the account again.
So, you think you have rights? LOL
  • #8,052
  • Sep 15, 2015 4:16pm Sep 15, 2015 4:16pm
Hello
I'm a new trader and would like to connect my fxcm trading station to trade explorer here.It seems that its limited to our platform.
  • #8,053
  • Sep 15, 2015 4:47pm Sep 15, 2015 4:47pm
Quoting viktusik
Hello I'm a new trader and would like to connect my fxcm trading station to trade explorer here.It seems that its limited to our platform.
Hi Viktusik,

Welcome to the forum!

The current version of Trade Explorer is not compatible with FXCM accounts, but Forex Factory tells us that their next version will be. I encourage you to contact Forex Factory directly to let them know of your interest in this update to Trade Explorer: http://www.forexfactory.com/contact.php
  • #8,054
  • Sep 15, 2015 6:18pm Sep 15, 2015 6:18pm
Quoting Jason Rogers
{quote} Hi Viktusik, Welcome to the forum! The current version of Trade Explorer is not compatible with FXCM accounts, but Forex Factory tells us that their next version will be. I encourage you to contact Forex Factory directly to let them know of your interest in this update to Trade Explorer: http://www.forexfactory.com/contact.php

Thank you)
  • #8,055
  • Sep 16, 2015 2:28am Sep 16, 2015 2:28am
Alpari surrendered to the cops without a fight but FXCM aint going down that easy, they are still kicking and trying to fight their way out of an impossible situation.

FXCM, COME OUT WITH YOUR HANDS UP! YOU'RE SURROUNDED!!!
  • #8,056
  • Sep 16, 2015 8:10am Sep 16, 2015 8:10am
Quoting ZeF
FXCM is doing pretty good it seems like. According to their own SEC filling, they lost only USD 879,222,000 in the first 6 months of 2015. That's 130M shy of USD 1BN. I think they will hit the 1.5BN milestone by 2016. The only income they had, which is listed at the bottom of the page, is the $300M loan by Leucadia. That's it. They could not make ANY money during these 6 months. They also lost about $800,000 trading currencies. They made $22 Million from something, it's not explained - non audited. That is your FXCM Global Corporation ladies and...
That's pretty bad. Seems like the whole spot retail market is shaking . I heard Alphari had some issues too.
  • #8,057
  • Sep 16, 2015 1:55pm Sep 16, 2015 1:55pm
Quoting Makavell
Alpari surrendered to the cops without a fight but FXCM aint going down that easy, they are still kicking and trying to fight their way out of an impossible situation. FXCM, COME OUT WITH YOUR HANDS UP! YOU'RE SURROUNDED!!!
I don't understand. Why keep smacking on FXCM? Do we need to have a fun time that bad? At least they are trying to survive.
  • #8,058
  • Sep 16, 2015 2:07pm Sep 16, 2015 2:07pm
And the biggest problem in forex is that there is no central exchange. You all seem to think the biggest problem is needing a broker.
If an LP shuts off, the banks continue to quote new prices while positions remain open. That leg of it should be banned worldwide if even without an exchange.
FXCM's business model was excellent or else they would not be able to survive.
  • #8,059
  • Sep 16, 2015 5:47pm Sep 16, 2015 5:47pm
  •  penang
  • | Joined Aug 2009 | Status: Read my lips...Money Management | 15 Posts
Hi Jason,

Were the margin requirements for the US30 and SPX500 CFD's increased earlier this week (Tuesday) for Canadian account holders?

The margin requirements were $USD75 and $USD90 for the US30 and SPX500 respectively but seems to be $USD150 and $USD180 for 10 contracts now; are these margin requirements correct and have increased by 100% since Monday of this week.

Your prompt reply would be appreciated.

thanks
  • #8,060
  • Sep 16, 2015 6:01pm Sep 16, 2015 6:01pm
Quoting Makavell
Alpari surrendered to the cops without a fight but FXCM aint going down that easy, they are still kicking and trying to fight their way out of an impossible situation.
Quoting wp3vv
{quote} That's pretty bad. Seems like the whole spot retail market is shaking . I heard Alphari had some issues too.
Quoting PipShot
At least they are trying to survive.

As Mark Twain might have said, "The reports of my death have been greatly exaggerated."

Our plan is to repay the loan we received from Leucadia with proceeds from the sale of non-core assets. This Monday, we announced the completion of our sale of FXCM Hong Kong to Rakuten Securities for a total consideration of approximately $38 million: http://ir.fxcm.com/releasedetail.cfm?ReleaseID=931388

And today, we announced these key retail customer trading metrics for August 2015:

  1. Trading volume of $329 billion in August 2015, 4% higher than July 2015 and 10% higher than August 2014.
  2. Average trading volume per day of $15.7 billion in August 2015, 14% higher than July 2015 and 10% higher than August 2014.
  3. An average of 594,294 trades per day in August 2015, 11% higher than July 2015 and 51% higher than August 2014.

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