hey guys beware of FXCM. this is my real story with FXCM. I placed a sell order on FXCM on friday morning (dec 29 ) for eur/usd at 1.3210 with a stop loss at 1.3221. i tried to remove the order on friday, however, I was just one minute late (4:01 PM EST) and they closed the dealing desk and didn't allow me to remove the order. they didn't open the dealing desk until January 2, 2AM EST.
In the mean time i tried to talk to them so that i can remove the order, but no result. When finally they opened the dealing desk the price was already around 1.3240 and they executed my sell order at 1.3210 and stop loss at 1.3221 at 2:22 AM and they didn't allow me to remove my order at all from 2AM to 2:22 AM. when I talked to them over phone, they told that since you placed the order, even if the market gapped, our dealing desk is closed we will execute the order and stop out you! This is robbery in open day light! you will never see this type of thing with any reputed broker. beware of FXCM! Leave FXCM as early as you can.
In the mean time i tried to talk to them so that i can remove the order, but no result. When finally they opened the dealing desk the price was already around 1.3240 and they executed my sell order at 1.3210 and stop loss at 1.3221 at 2:22 AM and they didn't allow me to remove my order at all from 2AM to 2:22 AM. when I talked to them over phone, they told that since you placed the order, even if the market gapped, our dealing desk is closed we will execute the order and stop out you! This is robbery in open day light! you will never see this type of thing with any reputed broker. beware of FXCM! Leave FXCM as early as you can.