Is this broker safe?

Hi everyone,
Is FXCM safe, I'm thinking to open an account, besides that their trading station platform was down at the begining of this week

regards

Don't even think about it. FXCM is one of the worst.
Go FXLQ.com.... One of the best

absolutely not. worst broker there is.

You guys really think so? Ive never had a problem with them. I dont trade news very often, but in the times that I have, there has been no problems.

yes they are one of the safest brokers, they get a bad wrap because so many newbies trade with them and dont realize FXCM is on par as one of the best. brokers in general are not your friend, they make money off you, that is what they are in business for. until you realize that you cant really play the game.

Hi all, I've been here a little while now but this is my first post.

I started a live account with FXCM 6 weeks ago (not knowing any better/worse). Here are few observations over that time.

At major news events they change the entry order prices plus/minus 300-500 pips at 10-30 minutes before an announcement, but only major news, e.g. they did it for the TIC Report but not for the PPI (even though the PPI turned out to be a much more volatile event, and much better for me). At the end of the PPI run I closed one position manually, at which time I did get the "Refer to dealer desk" message, the order turned yellow and there was a delay of about 5-8 seconds before the position was closed. I accept that during news orders can not be filled/exited instantly, the order I closed manually had a take profit order 10 pips higher than the buy price, it got jumped and instead of making 10 pips I ended up with 21, oh well.

Also, there pip spread has stayed at 3-5 pips (depending on what you trade) right up to the time of news.

So far I will keep my account with them, they have done nothing to burn my trust in them (yet) but I'll see what the future holds. As Merlin alluded to, know the rules of the game and the player you are playing it with, whether they are fair or not, know them both and trade accordingly.

My first 2c worth,

Phill B.

As Merlin said, you need to learn the nature of the game. That means to know how to identify when people are just “bitching” about brokers just to wash out their frustrations.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

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FXCM are one of the biggest brokers around and for sure safest (though they been already fined by NFA before). I traded with them and I was not very satisfied overall. But it’s not true that they are the worst brokers out there. I am now with ACM (Swiss ) but it was because I wanted to trade the news and they do guarantee the execution of my orders under volatile conditions. So far they seem quite ok, no complaints!<o></o>

Merlin, you have me confused. I understand the difference between dealing desk and ECN. However, the majority of the issues I have seen (or read about so far) are people complaining about dealing during the news, when the broker is going to lose money because it moves to fast to execute.

I got the impression that what you are talking about is something completely different. I have a sum of money I am about to invest (money which can be lost so I won't go hungry etc..) and have been on the fence about a broker or ECN. I am not asking for a suggested broker.. Just what exactly are you getting at and possibly some reference material to go look at.

Cheers

www.fxsol.com is a very good broker to trade with. No, I do not work for them but I am a BIG DOG trader and you will see my posts in the sidus method section of this forum. www.fxsol.com have treated me right and their new AccuCharts are excellent to trade with. Check them out if you or others ever get discouraged with your present brokers.

I scan 20 different currencies trading with easy with my charts and using the sidus method system and I make no less than 200 pips a day.

Tick

Tick,

What is your "version" of 200 pips per day?

Is it 200 pips total of all currency pairs traded like Cable +50 pips , Euro+35pips, YEN+30, Geppy +60 pips, AUD+25pips
regardless of # of lots played

OR

10 lots x 20 pips per day= 200 pips

My brother and myself were telling his son about trading FX. His son said it seemed like a gamble to him. We told him; "Everything is a gamble"! When he started an Auto-Body Shop he gambled $400 a month in rent that his business would work. When we drive on the Freeway, we gamble some nut not kill us. With this said; :"In life we do have to learn the game to make life as safe as possible"! Trading with any broker requires learning how they do business. I really do not want to endorse any Broker, but, I do use FXCM and Onada each for certain reasons. I understand Pip jumps before news and not really care, because I "KNOW" this how it is, grumping about it will not change it. So, I adjust my Trading according to what I know these Brokers will do. The best advise I can give a person is start with a minimum amount of cash with a Broker you want to try and play their game to see if it will work for you. Demo accounts are great for learning a Trading platform, BUT, they not worth "Diddly-Squat" for learning the real "McCoy". I say this often to my friends; "It just like Poker"! If, I sit in at a table with people I have never played with, I play with caution until I learn their game. If, their game not agree with me...........I leave the table!

where is your money now?, even when this post was made they were having problems
people do some due diligence and be careful

good example is NF, they are not regulated by anyone in anyway and not even reconized by the belize Gov, the country in which they reside

You can use this research to hopefully find your answer: http://www.forexpeacearmy.com/public...broker_reviews

Forum is a good source of information and to discuss about the things people are curious but another thing I found in forums are the Reviews.
I suggest you to read some reviews of the broker you want to know in some of good sites, like forexpeacearmy is a good review website, you can find what people like and dislike about the brokers.

is your fund segregated?