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FXCM Discussion

As much as people tend to criticise FXCM, be rest assured that the Company is a professional outfit. It's in their best interest to see people making money (from time-to-time) and providing them with good technical and fundamental information. They know that most people lose in the long run so it doesn't harm them to help people with good solid advice anyway.
Yes they're are not the best at news times but show me a Broker that is !

As for Metatrader and the use of Expert Advisors...they like the idea of people using them. You'll be lucky if you can find a robot that consistently wins anyway. Metatrader will make them more money for many different reasons.

As for successful scalping (if you can). I wouldn't worry about this as we're talking nickel and dime money here. If you want to scalp, scalp. These guys have $50,000,000 operating capital, do you think they care. It's the big money that they're worried about.

As for Customer Service, you can call free from almost anywhere in the world if you have a query. What other Broker offers this ?!

Yes they have been caught cheating (I don't like that word) in the past but with all these new regulations coming out shortly, they will be wanting to paint a very rosy picture from now on.

FXCM are the best. If you don't like them, try Dukascopy or FX Solutions.

David
N.Z
Could you please hurry up and stop procrastinating with your Mt4 launch dates. You're reputation is being damaged by all of the delays. Chop, chop.
Quoting vincent001
As much as people tend to criticise FXCM, be rest assured that the Company is a professional outfit. It's in their best interest to see people making money (from time-to-time) and providing them with good technical and fundamental information. They know that most people lose in the long run so it doesn't harm them to help people with good solid advice anyway.
Yes they're are not the best at news times but show me a Broker that is !

As for Metatrader and the use of Expert Advisors...they like the idea of people using them. You'll be lucky if you can find a robot that consistently wins anyway. Metatrader will make them more money for many different reasons.

As for successful scalping (if you can). I wouldn't worry about this as we're talking nickel and dime money here. If you want to scalp, scalp. These guys have $50,000,000 operating capital, do you think they care. It's the big money that they're worried about.

As for Customer Service, you can call free from almost anywhere in the world if you have a query. What other Broker offers this ?!

Yes they have been caught cheating (I don't like that word) in the past but with all these new regulations coming out shortly, they will be wanting to paint a very rosy picture from now on.

FXCM are the best. If you don't like them, try Dukascopy or FX Solutions.

David
N.Z
I cannot say that I disagree at all.

The delay on releasing MT4 should not hurt FXCM's reputation; it should boost it up for the sole reason that so many people are patiently waiting for FXCM to have it.

From my experiences with dozens of shops, FXCM is a cut above the rest in professionalism. The company has very attentive and knowledgeable staff; as well as black and white policies that prevent long, dragged out procedures that should take 24 hours. Very well capitalized and I think they allocate the right amount to operations so things run smoothly.

Everyone should keep in mind that implementing a new platform and making it widely available to the retail market is a recipe for at least some problems. Don't expect it to run like FXDD or IBFX from the start. JMHO
I have had more problems with FXCM then with any other broker I have used.

Their platform often freezes and the last time I called them to have my trade closed, they had me on hold for over 10 minutes while my account balance was getting sucked down.

They have good customer support but bad technical support. I dare you to call them right now and ask to be transferred to technical support or the trade desk. $10 says the person who answers says "yeah?" instead of "hello" and acts like you are bothering him.....
Quoting FrankTheTank
I have had more problems with FXCM then with any other broker I have used.

Their platform often freezes and the last time I called them to have my trade closed, they had me on hold for over 10 minutes while my account balance was getting sucked down.

They have good customer support but bad technical support. I dare you to call them right now and ask to be transferred to technical support or the trade desk. $10 says the person who answers says "yeah?" instead of "hello" and acts like you are bothering him.....
Get an IB to do that dirty work for you
You know I hear it all the time...Bad traders blaming their Brokers. Concentrate on improving your trading skills and this will offset any deficiency a Broker may have as you'll be winning more than losing. Trading isn't for amateurs, so instead of moaning, just open up another account elsewhere. Cheers.
Quoting vincent001
You know I hear it all the time...Bad traders blaming their Brokers. Concentrate on improving your trading skills and this will offset any deficiency a Broker may have as you'll be winning more than losing. Trading isn't for amateurs, so instead of moaning, just open up another account elsewhere. Cheers.
I agree, but I don't think FranktheTank is an amateur though.
So in the end which broker should I be with? Im looking for Mini 1:200 leverage financial stable regulated.
Quoting vicebet
So in the end which broker should I be with? Im looking for Mini 1:200 leverage financial stable regulated.

Vicebet,

You are not going to find a "REGULATED" Broker offering 200:1.
FYI....To be nothing but helpful, if you don't know your brokers, you should not be looking for high leverage either. Only you really care about your own money.....spend some time on the phone talking to actual brokerage houses.

Fxj
Proper Prior Planning Prevents Piss Poor Performance
Quoting FxJarhead
Vicebet,

You are not going to find a "REGULATED" Broker offering 200:1.
FYI....To be nothing but helpful, if you don't know your brokers, you should not be looking for high leverage either. Only you really care about your own money.....spend some time on the phone talking to actual brokerage houses.

Fxj
Huh? You're not going to find a regulated broker offering 200:1? I can think of several... am I misunderstanding you in some way?
  • Post #271
  • Quote
  • Edited Apr 4, 2008 2:31am Apr 3, 2008 3:30pm | Edited Apr 4, 2008 2:31am
I'm asking for recomendations... what i've got again are criticism this that bla bla.. can anyone just come out with a realiable broker? You guys just talk bad about others.. so which one are you guys actually using?

Is Fxcm really that bad? And why they are so large and so many customers if it is that way? How is that possible?

My main choice is Fxcm but after reading much now i'm looking into MB trading... anyone can help me with my selection?
Quoting forexfun
Huh? You're not going to find a regulated broker offering 200:1? I can think of several... am I misunderstanding you in some way?

Please list them, I'd be interested in learning something new! USA based please, no overseas regulated brokers.
Thanks!
Fxj
Proper Prior Planning Prevents Piss Poor Performance
Hit the nail straight on the head Moe.... !!!!!!!!

Quoting Moe
FXCM still can't keep there hands out the cookie jar, they are still messing with qoutes, with over 90k customer's why don't they offer a true ecn and just charge commision, but no they can't do that, that will take away ways to screw the traders, i think they are a joke, altho the biggest but the worst.
Quoting vicebet
I'm asking for recomendations... what i've got again are criticism this that bla bla.. can anyone just come out with a realiable broker? You guys just talk bad about others.. so which one are you guys actually using?

Is Fxcm really that bad? And why they are so large and so many customers if it is that way? How is that possible?

My main choice is Fxcm but after reading much now i'm looking into MB trading... anyone can help me with my selection?
Ok, you want recommendations....

RJO
Lind-Waldock
Interactive Brokers
Alaron
Anco
Daniels Trading

Several more in Chicago area, drawing a blank this morning.....CFTC and NFA a great place to start, check on history and capital. You'll most def. find more on the list.
Hope that helps

FXCM is just ok at best / I used them years ago....I left them....traders pay dearly on the spread.
No History with MB.

Fxj
Proper Prior Planning Prevents Piss Poor Performance
Quoting FxJarhead
Ok, you want recommendations....

RJO
Lind-Waldock
Interactive Brokers
Alaron
Anco
Daniels Trading


Fxj
Never heard of these ones you mentioned, will do some more research. Thanks.
I use mgforex.com and I love them.

Their server is NEVER down, and I never saw any weird tricky things coming from them.

They are also bond insured and registered with the NFA. They've been in business since 1992, which is a lot for a forex broker.

The ONLY thing I do not like is that they only "show" a little over $6 million, when current cftc min is $5 million.

Yet, when the min was $1 million a couple of months ago, they always only showed a couple of hundred thousand $$$ above that, and when the switch occurred, the immediately showed $6 million, so it seems that they do have $$$ somewhere.

In an interview, the CEO claimed that he does not see the need to show a little more than the required minimum, when the rest of the funds can be used for other purposes.

Basically, we'll never know how much they really have.

That's my only complain with them.

I am surprised nobody talks about them in here, probably because they do no advertise like other big brokers do.

And btw, I am a profitable trader who places an average of 1 trade per day in all market conditions and no problems with them at all.

I gotta be honest and say that once my current acct reaches $10,000.00, I will most likely try out Deutsche Bank, simply because I want more peace of mind (they are huge). But I will still keep my MGForex acct open to hedge my bets.

Check them out www.mgforex.com and you will see how they are. They also have an introduction video on their website that shows their offices.

Good luck !
"Lunch ? Lunch Is For Wimps !"
Gbp/ Chf Spread Is 21 Pips While Geppy Spread Is 12 Pips./....


Is It The Worst In This Industry?
I AM NOT AGAINST ANY RETARD. I AM JUST AGAINST ANY WRONG/LOSING TRADES.
I use FXCM and make a very good living, thank you. Sorry if you don't know how to trade in the fx market.
Fxcm is good. I would recommend them to anyone. I don't trade for a living but will get there one day through Fxcm.

Now Available With FXCM:

MetaTrader 4 by MetaQuotes

New York, May 6, 2008

FXCM (www.fxcm.com) announced that clients can now choose between trading on the FXCM trading platform or on MetaTrader4 platform by MetaQuotes.

After numerous requests from the forex community, FXCM has added Meta Trader4 to its list of trading platform options. Many forex traders love the MetaTrader 4 platform, but want the benefits of FXCM as their broker.

Trading with FXCM offers the security of trading with one of the largest and most financially secure Forex Dealer Members. Several brokerage firms which offer the popular MetaTrader 4 trading platform are unregulated in the US (under the CFTC and NFA) or at all.*

Clients switching to FXCM will enjoy:
-No Dealing Desk Execution
-Low Spreads
-Great Execution – Even During News Events
-24/7 Customer Support
-Proprietary Trading Signals and Ideas From DailyFX.com

“We respect that many forex traders are familiar with the MetaTrader 4 platform. Now our clients have a choice of two great trading platforms, the FXCM Trading Station 2.0 and MetaTrader 4,” said Marc Prosser, Chief Marketing Officer at FXCM. “The choice is free; there is no additional software charge for using any of the trading platforms.”


For more information regarding MetaTrader 4 with FXCM please visit http://www.fxcm.com/meta-trader.jsp

A separate application is needed for clients choosing to trade on MetaTrader 4 platform. http://www.fxcm.com/metatrader-apply.jsp

# # #

FXCM Facts

·Forex Capital Markets LLC is one of the Largest Forex Dealer Members
·More than 100,000 live accounts are traded on FXCM trading platforms
·As of January 2008, an average of $350 billion in notional volume is traded each month on FXCM trading platforms
·As of January 2008, there is in excess of $700 million in customer funds trading on platforms offered by FXCM
·FXCM provides customer support with native speakers in more than a dozen languages in 6 offices around the world
Registered with the CFTC as a Futures Commission Merchant, FXCM (Forex Capital Markets LLC) has received numerous awards from the investment community, including Best Currency Broker from Shares, Best Retail Foreign Exchange Platform from FX Week and Best Foreign Exchange Specialist from Technical Analysis of Stocks & Commodities. In addition to currency trading, FXCM offers educational courses on forex trading, and provides research through DailyFX.com.
*Leveraged foreign exchange trading carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.

More Information:
Jaclyn Sales
Public Relations Coordinator
FXCM
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005
Dir (646) 432-2463
Tel (212) 897-7660
[email protected]
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