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  • #9,921
  • Feb 7, 2017 9:18pm Feb 7, 2017 9:18pm
Hello Jason.

I don't know if you deserve all the nastiness that is being dished out at you or not. It is my hope that you were just following the company rule-book when answering peoples questions and not purposely misleading folks.

Unfortunately, the actions taken against FXCM will lead many losing traders to believe that it is the brokers fault that they lost on trades, and not the fact that they caused the loses themselves.

It is also shameful that the language used toward you demonstrates a lack of maturity and respect.

No matter what happens, I want you to know that when I needed help and answers, you were always kind and prompt in getting me on the right track.

Thank you for the good which you have done to make my experience with FXCM a good one.

1greyfox
  • #9,922
  • Feb 7, 2017 9:29pm Feb 7, 2017 9:29pm
Quoting 1greyfox
Hello Jason. I don't know if you deserve all the nastiness that is being dished out at you or not. It is my hope that you were just following the company rule-book when answering peoples questions and not purposely misleading folks. Unfortunately, the actions taken against FXCM will lead many losing traders to believe that it is the brokers fault that they lost on trades, and not the fact that they caused the loses themselves. It is also shameful that the language used toward you demonstrates a lack of maturity and respect. No matter what happens,...
They didn't disclose they had a financial interest with one of their liquidity providers B-book. Should they get a fine? yes.
Should they be Banned from operating in the USA? I think that's a bit over the top, but I guess it's a witch hunt.
Should Jason Rodgers be verbally abused? Of course not. He's just the public relations guy. I doubt he even knew about it.
  • #9,923
  • Feb 7, 2017 11:31pm Feb 7, 2017 11:31pm
Quoting pipmaster77
I trade exactly like Henry with my offshore, 500;1, ECN broker.
I'm no expert at this and I'm still paper trading, so help me understand this. Either you must be right the vast majority of the time or your account is getting wiped out on a regular basis. Do you just keep feeding the account another $500 when you lose?
  • #9,924
  • Feb 8, 2017 2:19am Feb 8, 2017 2:19am
Quoting keen246
{quote} Jason, please don't insult our intelligence with all that BS. It's proven beyond doubt that FXCM is a scam and you're part of it.
Post of the DAY :-)

So much BS
  • #9,925
  • Feb 8, 2017 2:38am Feb 8, 2017 2:38am
FXCM is proven as scam broker i want to know how other regulator look into this matter coz there execution model is golbal not for US so FCA,FSA and other regulator where they registred did they investigate this or not
if FCA will not investigate this and ban FXCM then it will put question mark on the credibility of FCA.
Lets wait and see what will happens to these balck sheeps of fx market
  • #9,926
  • Feb 8, 2017 5:01am Feb 8, 2017 5:01am
Jason is just another poor dumb puppet like us all, controlled by the real masters of the universe. Make 77mil, pay a 7mil fine. See kiddies, crime does pay, it fucking pays alright!!!
  • #9,927
  • Feb 8, 2017 5:07am Feb 8, 2017 5:07am
Quoting aqeel1090
FXCM is proven as scam broker i want to know how other regulator look into this matter coz there execution model is golbal not for US so FCA,FSA and other regulator where they registred did they investigate this or not if FCA will not investigate this and ban FXCM then it will put question mark on the credibility of FCA. Lets wait and see what will happens to these balck sheeps of fx market
I see it as a good test of other regulatory authorities. This has come out and yet no issues in any other countries.... Does this mean other regulatory authorities dont care? Have no power? I can say at a minimum in Australia it would account to false and misleading advertisement if nothing else.
  • #9,928
  • Edited 7:18am Feb 8, 2017 5:24am | Edited 7:18am
Quoting KoiFish
{quote} I doubt he even knew about it.
Maybe. He definitely does know about it now though, but evidently it's just business as usual. Looks like his job now is to do his best to sweep this latest deception under the carpet, much like the previous asymmetric slippage scam they had going on. Either the morals are non-existent or the pay must be good.
  • #9,929
  • Feb 8, 2017 6:35am Feb 8, 2017 6:35am
Show another broker who is not a scam and you make money with them?
  • #9,930
  • Feb 8, 2017 6:50am Feb 8, 2017 6:50am
Quoting styles20001
{quote} I'm no expert at this and I'm still paper trading, so help me understand this. Either you must be right the vast majority of the time or your account is getting wiped out on a regular basis. Do you just keep feeding the account another $500 when you lose?
Yes, the amount on deposit with the broker is just a small % of my actual trading capital. The majority is held in my bank and transferred if and when needed.
  • #9,931
  • Edited 8:55am Feb 8, 2017 7:28am | Edited 8:55am
Quoting 1greyfox
Hello Jason. I don't know if you deserve all the nastiness that is being dished out at you or not. It is my hope that you were just following the company rule-book when answering peoples questions and not purposely misleading folks. Unfortunately, the actions taken against FXCM will lead many losing traders to believe that it is the brokers fault that they lost on trades, and not the fact that they caused the loses themselves. It is also shameful that the language used toward you demonstrates a lack of maturity and respect. No matter what happens,...
Seriously, are you for real?

So let's get this straight, this guy knowingly works for a company that has been defrauding, scamming and trading against its own retail customers for years or should I rather say decades (someone has already posted the Wikipedia links elaborating their fraudulent activities in great detail) and you come here to defend their representative ("I hope he was just following rule-book") and even accuse some forum members of being immature for expressing their anger after being financially defrauded?

With all due respect, have you lost your mind? If I were to break into your house and steal all your stuff and assets but leave a nice and courteous message and perhaps my phone number so you can call me when you're feeling sad and depressed after being ripped off by FXCM, you would probably consider me a nice guy who doesn't deserve any kind of nastiness since I've been courteous to you with my friendly message, right?

This fat f*ck of a CEO, Drew Niv, and his cronies should be doing time in a federal penitentiary right now because that's exactly where they belong for systemically defrauding and trading against their own customers for more than a decade now! Like one previous member posted, if you smash a window you're thrown into jail but these scammers can do as they please.

And yes, the other people are right, if you knowingly work as a company representative for a company that has done so much harm to their own customers, you are indeed a 'cockroach and low life' (I'm just quoting other users here) because if this guy was a decent human being with at least one ounce of integrity and dignity in his bones, he would have stopped working for this shady company a long time ago!

But hey, continue defending them and why not emigrate to another country so that you can continue trading with them? But why even deposit and trade with them if you can send your hard earned money straight to their bank account and perhaps you even get a friendly message from Jason for doing so or maybe even a FXCM fan badge?

Sorry, but what's going on in this forum and industry is absolute insane and FXCM is the ultimate embodiment of what's wrong with this industry...
  • #9,932
  • Feb 8, 2017 8:46am Feb 8, 2017 8:46am
This post back in October 2012 was interesting, as was the reply:
(see page 156 of this thread)

Quoting fx_insider

So I just heard something interesting from a friend about FXCM's "no dealing desk".

Apparently, their largest liquidity provider by far is a small firm called Effex Capital, which is owned by FXCM itself and was set up solely to act as a counterparty to FXCM clients. They sit on top of FXCM's liquidity pool with last look so that for every FXCM trade, they can choose whether to take it or pass it on to normal liquidity providers.

Can anyone confirm this? It would be interesting to know how much information is shared..


Quoting Jason Rogers
{quote} Hi FX_insider, I want to clarify some misinformation that your friend shared with you. While FXCM does own a liquidity provider, the name of that company is Lucid Markets. Its an institutional level liquidity provider in the forex market and to date has provided no liquidity to FXCM's retail no dealing desk execution. Here's a link to the press release when we announced our acquisition of 51% of Lucid. Non-disclosure agreements mean that we don't...
  • #9,933
  • Feb 8, 2017 9:02am Feb 8, 2017 9:02am
Quoting midnight
{quote} Remember this you piece of shit??? Telling people there is no dealing desk??? You are a low life CUNT and should be in jail getting fucked in the ass.
To be fair, corruption happens at a really high level. I don't for one second expect someone who's job it is to manage social exposure on a forum to know their firm is knee deep in the shit prior to someone like the CFTC coming out with their findings.

However, when the proof is made public, to sit here on this forum and continue to push the company speaks volumes... Watching Roger's immediately transition here to a "We're great in the UK" tone is pathetic. Are we to assume the only people this company has fucked over are based in the US, that everyone else has been sparred the corruption and deception that "Drew" apparently has been involved in? That would be nothing less than a miracle and I sure as shit wouldn't risk my hard earned money in an attempt to find out.

Jason, I get this is your job and you have responsibilities at home, bills, obligations etc. But if you want to maintain even an ounce of credibility in this industry you'll step away from these guys right now... You're on the LARGEST fx forum there is, if you blow it here man, you're done. Maybe you don't care and deep down inside you're done with FX. If that's the case, I get it. But if you're looking to make a lateral move and you want the larger FX community to trust you personally, everything you do from this point on matters. A lot.
When you hit 50, coffee becomes part of a proper modeling pipeline.
  • #9,934
  • Feb 8, 2017 9:33am Feb 8, 2017 9:33am
Quoting curban
{quote} Seriously, are you for real? So let's get this straight, this guy knowingly works for a company that has been defrauding, scamming and trading against its own retail customers for years or should I rather say decades (someone has already posted the Wikipedia links elaborating their fraudulent activities in great detail) and you come here to defend their representative ("I hope he was just following rule-book") and even accuse some forum members of being immature for expressing their anger after being financially defrauded? With all due respect,...

I am sorry for upsetting you.

I willingly opened an account with FXCM and knew the risks, which is much different than someone breaking into my house without my consent.

I don't know if you work for a large company or not, but if you do and they have done wrong to their customers, and you are still employed by that company then aren't you guilty of the same thing you are saying of Jason?

I guess a company like Volkswagen could be classified as a 'shady' company because of the deceptive computer programming for emissions, yet they are still in business. Didn't they hide things in order to gain more sales and take advantage of the customer? I doubt it was common knowledge among all the employees of what they did, but all their employees could fall under your statement of not having integrity and dignity because they still work there.

I have wasted enough of my time with this reply.

Have a good day.
  • #9,935
  • Feb 8, 2017 9:34am Feb 8, 2017 9:34am
need i say more?
Attached Image (click to enlarge)
Click to Enlarge Name: fxcm.png Size: 54 KB
Drawdown is more important than Account Size !
  • #9,936
  • Feb 8, 2017 9:42am Feb 8, 2017 9:42am
I currently have an FXCM MT4 account and it is functioning as normal and taking trades .. what will become of this ? will it be business as usual or will my funds be lost ? should I try to withdraw ?
  • #9,937
  • Feb 8, 2017 9:49am Feb 8, 2017 9:49am
It will be fine once it is revealed how much they make from selling their clients to Gain Capital. Also I expect them to sell their UK

business to avoid regulators there plus their is too much competition in the UK. After they do that, Leucadia could step in with a $40 million dollar loan

if needed or extend the payback date or lower the interest rate.
  • #9,938
  • Feb 8, 2017 9:50am Feb 8, 2017 9:50am
Quoting blade813
I currently have an FXCM MT4 account and it is functioning as normal and taking trades .. what will become of this ? will it be business as usual or will my funds be lost ? should I try to withdraw ?
You may want to contact FXCM for advice. There US Clients have been transferred to Gain Capital. Normally from what I have heard during the transition period you either dont want to trade or may want to make a withdrawl.

Good luck !
Drawdown is more important than Account Size !
  • #9,939
  • Feb 8, 2017 9:55am Feb 8, 2017 9:55am
Quoting blade813
I currently have an FXCM MT4 account and it is functioning as normal and taking trades .. what will become of this ? will it be business as usual or will my funds be lost ? should I try to withdraw ?
Pretty sure US based accounts are heading to Gain (Forex.com). You'll probably go through a period where no new trades can be opened, and then existing trades will need to be closed. Once activity has been halted accounts will be transfered and you'll be able to resume trading. I don't think accounts or funds are in any danger here. We've come a long way since my money was absorbed in the Refco BK.
When you hit 50, coffee becomes part of a proper modeling pipeline.
  • #9,940
  • Feb 8, 2017 10:01am Feb 8, 2017 10:01am
Quoting 1greyfox
{quote} ... I willingly opened an account with FXCM and knew the risks, which is much different than someone breaking into my house without my consent...
We all know industry risk, including corruption is a potential (especially in this business) but that doesn't mean it's not stealing when it happens.
When you hit 50, coffee becomes part of a proper modeling pipeline.
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