I was fleeced by my broker and I have proof!

yea i did.. happened multiple times and I don't trade during high news events. I def got fleeced and lost thousands of $ because of FXCM.

Watching too many late night forex infomercials ?

Thank you for your post Sidhujag. Sounds like you had a similar experience to me but lost a lot more. Thanks for your input on my thread.

Sooooo many traders! Look at them all.... too many to count.

Hey there guys,
Any news on this broker 'plus500' ?
Would love to know if anyone has been screwed by this broker?
Read below its concerning...

A Bakker4 months ago
PLUS500 is a market maker (dealing desk), this means when you lose money they win. And when you win money they took the money trough interbanks from other traders. This all means that PLUS500 is against you and sits on the other side of each and every trade. Because they have so much money they can trade against you by buying or sell lots of amount so price will change against your trades. And they can see where you put your trades, stop losses. And they know how amateur trades place there trades. So the bottom line is if you want to be sure to lose your money you are at the right adres. Make sure you google terms like: Market maker, dealing desk vs no dealing desk, ECN broker, and make sure you visit seminars, and read independent books about trading, manipulation and markets before you put your hard earned money in this.

I believe forex.com does the same thing and it has been like that for many years. When I was with forex.com, I simply add 1.5 pip to the price so the difference between the chart and the live feed was cancelled off. It was a simple fix to the trick. There are many other dealers that do not charge the 1-1.5 pip so it is better to trade with those dealers.

How can FXCM offer 400:1 as they advertised in ... .com page whereas US regulation doesn't allow. Has US regulation changed from maximum of 50:1?

Thought I would let you guys know...

I just finished my first 2 weeks at OANDA and I have NO complaints! Remember at FXCM I had substantial problems in those first 2 weeks?!

My swap fees at OANDA over a two week period equal just -0.4% of my account. That's so much lower compared to what I recieved at FXCM in a 2 week timeframe.

As of now OANDA is completely on another level when it comes to fees, price and support. I hope my stay with them continues to be good. I have found that most brokers true colors shine in the first 2 weeks. If I've had no problems at OANDA so far, I think my chances are pretty good in the feature.

Do not forget....
Fxcm had no choice than to take the "loan" . If they did not do it FXCM would have gone the same way as ALPARI.

They took the loan firstly to safe themselves knowing full well that their client's funds ( losing trades) would be utilized to pay back the loan. And one of the reasons they were bailed out with the loan is FXCM's ability to tap money from retail clients. Retail funds were therefore used as surety against the loan. In other words their ability to generate "income" from their clients secured the loan. They did sell other assets but their client base was the main reason for being able to get a loan.

FXCM pretends as if they did it for the clients . They use it as a selling point for future business. Do not forget that Their CEO had personally way too much to lose to let the firm be declared insolvent.

The clients certainly benefited from the bailout loan BUT the business was saved firstly for "others" interest. "Leucadia's " predatory instinct is focussed on the lucritive deal they got from this . All made possible because of the retail forex client.

It was a much easier move to get the loan and let the retail clients repay it over a term than trying to get the money back from their clients after the Swiss debacle. It was an easy business decission which benefited the stakeholders more than any idividual retail trader.


Jason pls don't bother commenting on my post..... I know you are tired of defending your company....

Hey, so I'm pretty new to trading forex. I used to trade a long time ago, but I stopped and I'm trying to get back into it, but everything has changed since the U.S. change in regulations.

I want a Forex broker who is NDD (preferably ECN) and accepts U.S. residents. FXCM has advertisements everywhere, but I wanted to research and nothing is screaming "trust." I like that Jason from FXCM is on here responding, but obviously there's a lot of anti-FXCM people on here too.

I tried signing up for FXCM, but they refused my ACH bank deposit due to their own "bank problems," and instead of fixing it, they are trying to coerce me into using a credit card instead. It has made me even more uneasy. Also, they call my deposit an "investment" which implies I'm giving them my money, which shouldn't ever be leaving my personal ownership and control.

So, if not FXCM, then who can give me NDD for U.S. residents? Also, a minimum of around $1k-$2k would be great.

Alternatively, should I trust FXCM? Why or Why not?

You may want another opinion other then mine but.... I would stay away from FXCM. As of now, I've had accounts at Belforfx, FXDD, FXChoice, Tallinex, Forexbrokerinc, FXCM, forex.com and OANDA. The brokers I've liked the best so far have been... OANDA, Forexbrokerinc, FXchoice and Tallinex. The unfortunate thing is all the brokers I recommend but OANDA are not regulated. As you know this is a dangerous position to be in if something were to go wrong. Forexbrokerinc is my top recommended unregulated broker. They have send me over $25k in painless withdraws. Their swap fees are a bit high for a broker but they are honest and have treated me well. The reason I moved was my account was getting to large for me to really trust any unregulated broker. It was time to move.

I've only been with OANDA for 2 weeks but really liking them. I've studied there price, swaps execution and many others inside and out. Although they are not ECN they are NDD though. OANDA's spreads are low enough most of the time that I'm paying way less overall then the FXCM ECN account I had. I find OANDA to be very good so far but again... It's only been 2 weeks.

Thank you for the feedback Cubbygood. For Oanda, how do the spreads hold up during news events?

Quite good. I've checked their live during March 31 Yellen conference there was 4 pips max at Oanda, 3-4 on Hotforex and 4-5 on FXCM.

It's very evident my thread here was all very real considering FXCM discontinuing business with their US client base on 2/21/17.

They cared more about making money whether threw honest means or not rather then keeping clients happy.

Read my first post back from 2016 and you'll understand it's things like this that's forcing FXCM to leave their US client base behind.
http://www.forexfactory.com/showthread.php?t=586288

See the full full reason here...
http://www.financemagnates.com/forex...uit-us-market/

Breaking: CFTC Levies $7m Fine on FXCM, Forced to Quit US Market
FXCM is being forced to withdraw from CFTC regulation after its latest settlement, also facing a permanent NFA ban.
http://2.gravatar.com/avatar/895def9...?s=32&d=mm&r=g Jeff Patterson | Brokers (Retail FX) | Monday, 06/02/2017|23:18 GMT

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Photo: Finance Magnates
The US Commodity Futures Trading Commission (CFTC) has just issued an order against Forex Capital Markets, LLC (NASDAQ:FXCM), settling charges with the foreign exchange brokerage for $7 million in a civil monetary penalty for engaging in false and misleading solicitations. As such, FXCM and its CEO Drew Niv will be required to withdraw from CFTC regulation, per a regulatory filing.

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In particular, the CFTC order outlined charges against FXCM and its parent company, FXCM Holdings, LLC (FXCM Holdings), as well as the two paramount members of the group, Drew Niv, and William Ahdout. The order finds that between the period beginning September 4, 2009, through to at least 2014, FXCM engaged in false and misleading solicitations to its retail FX customers by concealing its relationship with its most important market maker.

An official announcement from the company detailing the sale of FXCM’s US accounts reads: “The named FXCM entities and principals neither admit nor deny the allegations associated with the settlements.”

FXCM CEO Drew Niv at Finance Magnates London Summit 2016



In addition, the CFTC asserted that FXCM had misrepresented that its ‘No Dealing Desk’ platform had no conflicts of interest with its customers. FXCM, FXCM Holdings, and CEO Drew Niv are collectively responsible for FXCM making false statements to the National Futures Association (NFA) about its relationship with the market maker.

Consequently, a collective $7 million civil monetary penalty was levied as well as a cease and desist order from further violations of the Commodity Exchange Act and CFTC regulations. Furthermore, FXCM, Mr. Niv, and Mr. Ahdout have agreed to withdraw from CFTC registration and never again to seek to register with the CFTC. Per the order and subsequent settlement, FXCM did not admit nor deny the charges.


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FXCM is currently the largest Retail Foreign Exchange Dealer (RFED) in the US, with an estimated market share of approximately 34.0% in December. It is unclear what the fallout will be for the US FX market following the CFTC order. The shakeup could prompt a Jefferies/Leucadia takeover, given the company’s existing financial obligations and past deal with Leucadia in the aftermath of the Swiss National Bank (SNB) crisis.

The news also comes during after hours trading in the US – prior to the enforcement action, FXCM’s share prices (NASDAQ:FXCM) had already been trading in range of its 52-week low of $6.65, having closed at $6.85 on Monday.

According to Gretchen L. Lowe, Principal Deputy Director and Chief Counsel of the CFTC’s Division of Enforcement, in a recent statement on the order: “Full and truthful disclosure to customers and honest discourse with self-regulatory organizations such as NFA are vital to the integrity and oversight of our markets. Today’s action’s demonstrates that the CFTC is committed to protecting customers from harm in the markets it regulates.”

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Drew Niv

Permanent NFA Ban Given

Following the CFTC order, the National Futures Association (NFA) also stipulated that the group’s founders William Ahdout and Dror (Drew) Niv, as well as FXCM, have been forced to withdraw from NFA membership, and are also facing a permanent ban. The effective date for these actions is February 21, 2017. The NFA has accepted the settlement offer of FXCM, and the aforementioned individuals neither admitted nor denied the allegations outlined in the order.

Hi, i too faced the same candle patterns issue with FXCM and on calling they said it might be technical glitch, being a novice i accepted the fact and moved ahead, but now it seems that its all a set up and we could actually do nothing about it.

Hows the ATC Brokers for trading,scalping etc ?

I liked ATC Brokers a lot until they stopped excepting US clients back about a year or so ago. Seemed like an honest broker.