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FXCM Discussion

Although they have good execution and spread with me but I think they really have problem in their system.
First they match me with someone they're supporting about lost password, and they change my password many times. Yes, many times. I can sure my email doesnt stolen or someone login to it other than me.
Second, they credit my deposit and some hour later, they reversal it without any notice.
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Rich is just a definition !
I caught FXCM micro with their hand in the cookie jar...I was trading large size and I partially hedged my position with a stop and limit set for the two position at the same price, so if it hit that price, it would close both positions, right? Well it hit that price, and hit the stop on one position but not the limit on the other, even though they were the same! Definitely a stop running outfit.
Just to keep up with what's going on with the retail end,
I took a peek at what coud be very well be, as far as fx bucket shops go,
the most outright obvious attempt ever made to pick your pocket.

Even if you've never traded forex before, simply read the conditions under which
you agree to be robbed and unless you were dropped on your head as an infant,
a thinking person should quickly recognize this is not a serious way to trade the forex market.

Now, it goes without saying that FXCM already holds the worlds record for
greatest number of people raped in a single day, male and female.
So it actually comes as no surprise that these folks have now come up with a way
to take your last $25, if they can.

On the surface, the conditions sound very accomodating: tight spreads, high leverage,
low minimums, free stop hunting at no extra charge. However, the controls in place
to keep an account from actually growing into something substantial (e.g. >5K USD)
should remind someone trading with this setup that it's interesting practice,
but, not really the fx market at all, just a well structured illusion.

As long as someone is okay with that, instead of a demo, I guess it's okay to dream.
It is real money though, so, if you take $25 and turn it into the $5000 limit,
and then replicate this event one or more times, you may not be a half bad trader.
If so, please get the hell away from FXCM and use a real broker. You'll be glad you did.

note:
Anyone who is using FXCM and feels defensive about the above post, please understand
I am not attacking you at all whatsoever, so please don't be mad or angry.
The attack is intended only against FXCM and it's company, staff, washroom attendants,
people who look like FXCM, have the letters F, X, C, or M in their name, or have anything to do
with the day-to-day operations at the company. It's just for them, not you guys.
Quoting toshi
Just to keep up with what's going on with the retail end,
I took a peek at what coud be very well be, as far as fx bucket shops go,
the most outright obvious attempt ever made to pick your pocket.

Even if you've never traded forex before, simply read the conditions under which
you agree to be robbed and unless you were dropped on your head as an infant,
a thinking person should quickly recognize this is not a serious way to trade the forex market.

Now, it goes without saying that FXCM already holds the worlds record for
greatest number of people raped in a single day, male and female.
So it actually comes as no surprise that these folks have now come up with a way
to take your last $25, if they can.

On the surface, the conditions sound very accomodating: tight spreads, high leverage,
low minimums, free stop hunting at no extra charge. However, the controls in place
to keep an account from actually growing into something substantial (e.g. >5K USD)
should remind someone trading with this setup that it's interesting practice,
but, not really the fx market at all, just a well structured illusion.

As long as someone is okay with that, instead of a demo, I guess it's okay to dream.
It is real money though, so, if you take $25 and turn it into the $5000 limit,
and then replicate this event one or more times, you may not be a half bad trader.
If so, please get the hell away from FXCM and use a real broker. You'll be glad you did.

note:
Anyone who is using FXCM and feels defensive about the above post, please understand
I am not attacking you at all whatsoever, so please don't be mad or angry.
The attack is intended only against FXCM and it's company, staff, washroom attendants,
people who look like FXCM, have the letters F, X, C, or M in their name, or have anything to do
with the day-to-day operations at the company. It's just for them, not you guys.
If you are using SL orders....FXCM will take out if it comes within few pips....
other than this...if you are good trader and know where not to keep stop...then no problem for such trader.
for me FXCM is not problem...all boker are shit, we have to choose broker who produce less shit. FXCM micro offer very good spread..this is good point.
if you use tight stop...then gone.
anyone has withdraw $$ from micro acc before??
How the charge like?? from what I know is,,u needa pay $25....


sonic
i believe that $25 is the charge to cover wire fees. bank charge wire sender between $10-$45 on each wire foreign transfer...
The Micro is not a NDD model it is in fact a normal market making station if they will be fair pricing i cant tell i send them a email telling them after they moved me to micro that i do not want to stay with micro and i want to go back to the mini after 1 day they opened up again the mini for me
  •  dyos
  • | Joined Jul 2007 | Status: Automating forex strategies daily | 48 Posts
I just wanted to post an update to this forum. Is MT4 available with FXCM now? I think I checked with them a month ago and they were still beta testing. Thanks guys.

-Jeremy
Looks like they're still testing...Demo is still not available.

Some live accounts are being set up, though.
Hi.. I'm using Mikro FXCM Trading Station... Anybody here also using the same account like me? Lately I'm having problem with this station... Always hang and difficult to get connection... can't enter or close position instantly.. Does anyone that using the same account having the same problem...

If the situation goes on like this I'm planning to change other broker... Any suggestion that you guys found the best? Thanks....
hi rose im from malaysia. where u from? and im using fxcm micro and im having the same problems as yours. ive complaint lots of times to the support and they keep blaming my internet service provider. so if u are not from malaysia then its not my internet's problem. ive been using the platform for 2 years and never experienced like this until they introduce the micro acct then i noticed it happened regularly. today even worst i cannot log in to my acct n i got couple of positions open
Quoting Roselyn
Hi.. I'm using Mikro FXCM Trading Station... Anybody here also using the same account like me? Lately I'm having problem with this station... Always hang and difficult to get connection... can't enter or close position instantly.. Does anyone that using the same account having the same problem...

If the situation goes on like this I'm planning to change other broker... Any suggestion that you guys found the best? Thanks....
There is some problem in internet connection.
I have two internet connection. On one internet connection FXCM Micro platform works without any problem. and when i switch to other internet connection problem starts. so as per my experiance. this problem is related to internet connection. i am from India
I dont know about their micro platform, but I have FXCM mini Trading Station 2 platform. It hangs, crashes during trades, and even crashes when you log off and try to shut it down. Pathetic.
I have a micro account, and it does seem to be very sensitive to the internet conection. I've noticed that the platform will start to lag and freeze with a poor one. Infact I only have a 256k dsl hookup, and if I open mulitple brower windows or start a huge download that hogs the bandwidth that will screw with fxcm's platform in a big way. So I keep my bandwidth clean when I trade.

So I guess if you don't see your hookup improving any time soon I guess you really may want check into another broker
I have an account with dbfx wich is use same platform of fxcm, and I have same problem with logging in and freeze for last two days
I've been hearing many comments about FXCM's Negative and unfair interest rate rolls. It seems today they made all euro/usd rates negative in both long and short directions. Traders with positive roll rates equaling hundreds or even thousands in interest were seized and taken back by FXCM. What kind of Bull Shit is That !! Blaming it on the banks they use? Liars !! People beware
This is the third day they have had negative rolls on EUR and AUD buy positions (not to mention other currencies). I am really peeved. All my hard earned money is being stolen.

I'll be closing my account with them because of this and I definitely won't be recommending them to anyone.

We live and learn .....
Nothing worth having is easy.
well negative roll in both long and short is nothing new....

pretty standard practice for brokers to mark them up.
Quote
Global interbank lending markets stressed

Unfortunately, it is not an error with your account. This is a global issue.

Overnight lending has become as tight as it has been in decades. This tightness has caused the lending rates to sky-rocket. On the flip side, people are rushing to short-term paper, and as people rush to short-term paper, the yields have been driven down substantially.

Rollover rates will be significantly different from normal due the extreme conditions of the credit markets. Central bank intervention is playing havoc with short-term interest rates. There may be instances where roll rates are negative on both the buy and sell side. FXCM roll rates are reflective of the roll rates that are being given to us by our banks.

We hope the markets normalize as well - we like to see our traders and the market behaving in less distress.

To view our system updates or real time status, visit forums.forexmicrolot.com/show...hp?p=42#post42

Please let us know if we may assist you further.

-Brad

Reuters had a story on this as well that I just posted here at the FF

Global interbank lending markets stressed
I'm still getting proper interest payments with my brokr.
Same Whore .... Different Dress
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