Hello! I`m using FXCM already 3 years and they looks as good broker.They paid small profits, don`t know about big money trading, but for me this < 10000 USD they always pay without any problems.
I see...just landed from Russia? Is this you Drew Niv???
Quoting Laurentius
Disliked
Hello! I`m using FXCM already 3 years and they looks as good broker. They paid small profits, don`t know about big money trading, but for me this < 10000 USD they always pay without any problems.
Quoting Laurentius
Disliked
Hello! I`m using FXCM already 3 years and they looks as good broker.
They paid small profits, don`t know about big money trading, but for me this < 10000 USD they always pay without any problems.What planet do you live on? Just curious...{quote}
- #10,086
- Feb 20, 2017 4:38pm Feb 20, 2017 4:38pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
You mension European and Asian specifically, does that mean US traders are OK?
That's a question for our virtual Jason..Is everything OK for US traders? {quote}
To clarify what you have heard about our US business, part of our settlement with the NFA and CFTC was to close our US subsidiary, but there will be no changes for clients outside of the US: http://ir.fxcm.com/releasedetail.cfm?ReleaseID=1011502
So our US clients can continue trading uninterrupted, FXCM and GAIN have entered into a definitive agreement for GAIN to acquire the client base of FXCM's US operations. The transfer is scheduled to occur on February 24, 2017, after 5 PM New York Time.
We will for the interim period continue to service our US customers and to provide top quality trade execution pending the customer-account sale and business withdrawal. FXCM will also be working diligently to be sure that an account transition to GAIN's retail brand, FOREX.com, will be orderly, expeditious and seamless.
On behalf of all my colleagues at FXCM, I want to express our most sincere thanks to all our US customers who have been with us over the years and wish you all the best following this transition.
- #10,087
- Feb 20, 2017 4:54pm Feb 20, 2017 4:54pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #10,089
- Feb 20, 2017 5:11pm Feb 20, 2017 5:11pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
Jason Rogers Remember when i said you were dirty ? Trading against your clients? You told me no. Lying scum.
Anyone who has been trading with FXCM has seen their dirty tricks to scam traders. Why do you think FXCM was kicked out of USA?
{quote} Yes they using some plagins, this true. But for my trading style this no so big problem. If you use skalping i think FXCM this no so good broker for this.
I was temped to leave FXCM(Australia), however I have decided to stay, even if they were taking the other side of my positions through one of their LPs, its not an issue financially wise, I am a PCG trader so the spreads, commission and fills have been fine for me.
While I can't comment on the CFTC complaint specifically due to the nature of our settlement with them, I will say FXCM stands by our No Dealing Desk (NDD) model. Furthermore, FXCM has never used a virtual dealer plugin, and we welcome scalpers, because we make money from client trading volume.
Consider what happened on January 15, 2015 with the SNB flash crash:
The majority of retail forex traders were long EUR/CHF when the Swiss National Bank made their surprise announcement to abandon the 1.2000 exchange rate floor they had established for the pair. Had FXCM been on the other side of client trades, we would have made money when EUR/CHF dropped and retail traders took massive losses on their long positions.
The moved wiped out those clients' account equity as well as generated negative equity balances owed to FXCM of over $225 million. The caveat of our NDD model is that traders are offset one for one with a liquidity provider. When a client entered a EUR/CHF trade with FXCM, FXCM Inc. had an identical trade with our liquidity providers. During the historic move, liquidity became extremely scarce and shallow, which affected execution prices. This liquidity issue resulted in some clients having a negative balance.
While clients using NDD forex execution did not cover their margin call with us we still had to cover the same margin call with our liquidity providers. As a result, FXCM ended with a regulatory capital shortfall. Accordingly, FXCM needed to get a loan to cover this balance, which we did. For anyone that still thinks FXCM is running an FX dealing desk on our NDD model, the SNB event demonstrated that is not the case.
How does our NDD model work?
FXCM uses 16 liquidity providers to create a best bid best offer price stream for clients. LPs selected to price retail clients are forced to adhere to an extremely high standard of execution beyond just price including consistently low rejection rates, low latency, minimum quote sizes and high fill ratios even during market events.
We discuss in our UK execution study the criteria we use to rank our liquidity providers which you can see listed in question 13 of the FAQ. FXCM's liquidity providers are ranked based on compliance to these standards which we identify as providing the best customer experience possible. Being a top ranked liquidity provider is important. Liquidity providers with the best pricing according to these rules may gain an advantage over other liquidity providers which could result in a large increase in orders captured. Poorly performing liquidity providers are ranked lower for order flow and ultimately could be removed from our platform until they return to compliance.
Also, the results of this study show FXCM UK retail client order prices to be better for FX than futures prices (74.97% of the time) and interbank prices(91.56% of the time).*
_________________________________
* The study does not in away way attempt to represent that FXCM maintains a particular capacity or performance level. The figures in this study are provided for information purposes only, and are not intended for trading purposes or advice. FXCM is not liable for any information errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. Past results are not indicative of future performance.
Material Assumptions
FXCM's Retail Clients are defined as individual, joint, and corporate accounts trading on our retail price stream.
The comparison to each of the Futures and Interbank data is made at the time that the FXCM client order is executed. Normal market slippage and slippage due to rejections by liquidity providers are already included by the time the FXCM client order is executed. However, there is an assumption that there is no slippage on the Futures or Interbank market data.
In order to maintain consistency, Futures Market data and Interbank data used the same acceptable ranges in market trades. The summary of findings is based on the assumption that the maximum acceptable difference between the FXCM price and the Interbank/Futures market price is 5 pips in either direction.
Fees that a participant would pay on the Futures or Interbank market, such as CME Exchange Fees, NFA Fees, FCM Fees, Clearing Fees, and other commissions, were excluded from the study. Similarly, FXCM Commissions are excluded from the study.
- #10,094
- Edited 7:47pm Feb 20, 2017 7:31pm | Edited 7:47pm
- | Joined Nov 2016 | Status: Trader | 77 Posts
Exactly Again...
TO ALL EUROPEAN AND ASIAN COUNTRIES>>>> GET OUT NOW!!! CLOSE ALL ACCOUNTS WITH FXCM!
FOREX.com = PURE SCAM = WORST Market Maker...YOU WILL REGRET IT!
Again...TO ALL EUROPEAN AND ASIAN COUNTRIES>>>> GET OUT NOW!!! CLOSE ALL ACCOUNTS WITH FXCM!
FOREX.com = PURE SCAM = WORST Market Maker...YOU WILL REGRET IT!
{quote} LOL...They are transferring accounts from one scam broker to an veen worse scam broker. Good luck to those continuing to trade with US brokers.
- #10,095
- Feb 20, 2017 8:41pm Feb 20, 2017 8:41pm
- Joined May 2016 | Status: Trader | 6,296 Posts
Exactly
- #10,098
- Feb 21, 2017 4:24pm Feb 21, 2017 4:24pm
- Joined Oct 2007 | Status: Thanking GOD for today | 1,108 Posts
Plan, Prepare, Execute, Repeat
- #10,099
- Feb 21, 2017 4:46pm Feb 21, 2017 4:46pm
- Joined Sep 2007 | Status: simmer down now | 1,251 Posts
- #10,100
- Feb 21, 2017 5:25pm Feb 21, 2017 5:25pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
I was also tempted to leave FXCM(UK), but seeing as I've never had any issues with them and their API, help desk, withdrawal/deposit process and spreads are excellent, I decided I really have no need to change.
As I have mentioned to others here previously, the nature of FXCM's settlement with the US regulators prohibits me from commenting on the specifics. That said, I want you to know we continue to stand by the quality of our trade execution in general and our No Dealing Desk (NDD) forex pricing in particular. I believe the experience of many of our satisfied traders reflects this: http://bit.ly/2egIus1