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FXCM Problem?

  • #1
  • First Post: Apr 3, 2009 3:03pm Apr 3, 2009 3:03pm
My broker (FXCM) blocked trade station before the big jump on Friday 3.04.2009 at19h GTM.
I had an open order with the SL on + 1 pip, when the trading platform was unblocked my order has been closed with -17.2 (minus) pips.
What to do in this case,
should I change a broker?
Any suggestion is welcomed.
  • #2
  • Apr 3, 2009 3:13pm Apr 3, 2009 3:13pm
Quoting pipy
My broker (FXCM) blocked trade station before the big jump on Friday 3.04.2009 at19h GTM.
I had an open order with the SL on + 1 pip, when the trading platform was unblocked my order has been closed with -17.2 (minus) pips.
What to do in this case,
should I change a broker?
Any suggestion is welcomed.
Dont trade around news!
  • #3
  • Apr 3, 2009 3:15pm Apr 3, 2009 3:15pm
FXCM logged me out ( by accident ofcourse ) 1 Min before the NFP, thinking about it I think i got logged out sometime around that time to.

They'll just blame server load, maybe there right, not a big deal to me.

No guarantee the other platforms aren't going to do the same, end of the day it's only 18.5pips down can't take it to seriously, losing is part of the game sadly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #4
  • Edited 3:19pm Apr 4, 2009 4:20am | Edited 3:19pm
Thank you for your responses.
I usually do not trade around news. In this case the last news was at 17.00 GTM, and this happened around 19.00h GTM.
In any case, FXCM was expecting a big jump. I was angry because they didn’t execute the placed SL and I paid them to do it.
  • #5
  • Apr 4, 2009 1:29pm Apr 4, 2009 1:29pm
Quoting pipy
My broker (FXCM) blocked trade station before the big jump on Friday 3.04.2009 at19h GTM.
I had an open order with the SL on + 1 pip, when the trading platform was unblocked my order has been closed with -17.2 (minus) pips.
What to do in this case,
should I change a broker?
Any suggestion is welcomed.
This company has played this exact game even before they were called FXCM(Refco) . You could count the positive reviews on one hand missing 2 fingers. This was one of my 1st Brokers(2004-6) and only started to profit when I ditched them for a "real" Broker. They have been my worst Forex Broker experience bar none. That was on a "mini" account though and I dont know if they treat bigger players any better. I think 5 years is enough time to work out server problems or whatever their "real" problem is? Let us know what u decide as it may help others in your situation? I want to add that at that exact day and time I was also trading with my 2 current Brokers and I made money and DID NOT lose my connection or have my Platform "freeze". If you trade long term (Dailys or better) they might be acceptable depending on the spread they serve u-but I wouldnt recommend you stick around to test my theory.
FF = Forex Faggots
  • #6
  • Apr 5, 2009 5:26am Apr 5, 2009 5:26am
Dude if you trade long enough with FXCM or any broker you will know...even Onada does that...they will block you out the exact time, when a pair goes off.....

You have to set your trading in 1 click auto mode with fixed stop loss..so even if ur order goes and u get logged out..u will only loose the stop loss amount.

It is same with all brokers....

You an still make money....it may happen once or twice..but if u trade intraday with many trade...you can make money and also you can go with ECN


Dude its a casino out there...we are talking about FXCM..think about barnie madoff, AIG, and american government..they are all there to eat you away....its a bad bad bad world out there....

but still money could be made..good luck..do some more research
  • #7
  • Apr 5, 2009 11:52am Apr 5, 2009 11:52am
Give fxcm a call and have them audit that trade, im sure they will honor your stop. I've been using them for years and still agree that you cannot find a safer place to put your money. FXCM advertises all over the place so its only natural that newbies start off with them. But once they start losing money? Its gotta be the brokers fault ! right? haha ! so they move on to another one and expect a miracle. I am making money with them so i have no complaints but of course if i didnt know what i was doing and losing money then i would find everyone else to blame other than myself also !
  • #8
  • Apr 5, 2009 7:04pm Apr 5, 2009 7:04pm
Quoting mofuniverse
Give fxcm a call and have them audit that trade, im sure they will honor your stop. I've been using them for years and still agree that you cannot find a safer place to put your money. FXCM advertises all over the place so its only natural that newbies start off with them. But once they start losing money? Its gotta be the brokers fault ! right? haha ! so they move on to another one and expect a miracle. I am making money with them so i have no complaints ...
Its traders like u Mofo that FXCM depends on for their living. Keep feeding them your money. You may even get a Christmas card .LOL
FF = Forex Faggots
  • #9
  • Apr 5, 2009 7:21pm Apr 5, 2009 7:21pm
Quoting 8fingers
Its traders like u Mofo that FXCM depends on for their living. Keep feeding them your money. You may even get a Christmas card .LOL
I've used FXCM for three years. Had trades open on Friday, no problem whatsoever with the trade station. Slippage around NFP time is quite normal.
  • #10
  • Apr 5, 2009 7:45pm Apr 5, 2009 7:45pm
You've got two choices:

  1. Don't trade around news times (or)
  2. Get a new broker


Because retail fx is not regulated, you are allowing brokers to take advantage you during news announcments. It's already been established that brokers do have a "magic button" that can turn off their service to all users during huge announcements ... and trust me, a broker already knows if it will lose money during news announcements ... hence why all the "black-outs" during major releases.

So remember, either don't trade 30min before and 1 hour after news releases or find an Honest broker (as hard as it is to believe, there are some out there. You just have to research 'em) Oh, and because Currency Futures are regulated, you may want to take a look at that side of the table. You can bet, Future brokers don't attempt "black-out" moments to their users ... because they are heavily regulated.

  • #11
  • Apr 5, 2009 9:04pm Apr 5, 2009 9:04pm
Quoting TheGreatMilenko
I've used FXCM for three years. Had trades open on Friday, no problem whatsoever with the trade station. Slippage around NFP time is quite normal.
For every positive review on this Broker,there are 10 or more negative reviews at least. That alone is major RED FLAG. I do like their Platform but whats the point of good looking software if they drain your trading account thru disconnects,logouts,spikes, or what ever else they can conjure up? Internet is pretty reliable considering what it has to do to get info to your computer. So many variables as that info loops thru dozens of routers and such. Yet , so far, only FXCM and IBFX have proved soooo unreliable of a Broker(pricefeed) from my own personal experiance. The other half dozen Brokers I've had did not have these feed issues.(They arnt perfect either). I can only conclude THEY ARE MANIPULATING THE PRICE THEY SERVE THEIR PLATFORMS! Just the thought that this MAY be true was enough for me to go elsewhere. I have never regretted that decision and have profited from it. And Milenko(the great) Slippage is normal-not platform freezing-logouts-disconnects all the time every time. Dont settle for the worst broker because someone else is satisfied with their second rate service. Save your time and money.
FF = Forex Faggots
  • #12
  • Apr 6, 2009 12:20am Apr 6, 2009 12:20am
feeding them money? i wired out a few thousand on thursday. as long as im making money from idiots like you, i guess it doesnt matter what broker you are with LOL keep feeding me your money


Quoting 8fingers
Its traders like u Mofo that FXCM depends on for their living. Keep feeding them your money. You may even get a Christmas card .LOL
  • #13
  • Apr 6, 2009 12:25am Apr 6, 2009 12:25am
i guess that comes from the notion that approx 95% of traders fail and only about 5% succeed? so of course if majority of newbs like yourself start with fxcm it will leave them with such a bad experience. once you ( well maybe you will never) get to being in the 5% you will know where to put your money and you will think differently...until then? you keep follwing what the majority says


Quoting 8fingers
For every positive review on this Broker,there are 10 or more negative reviews at least. That alone is major RED FLAG. I do like their Platform but whats the point of good looking software if they drain your trading account thru disconnects,logouts,spikes, or what ever else they can conjure up? Internet is pretty reliable considering what it has to do to get info to your computer. So many variables as that info loops thru dozens of routers and such. Yet , so far, only FXCM and IBFX have proved soooo unreliable of a Broker(pricefeed) from my own...
  • #14
  • Apr 7, 2009 3:02am Apr 7, 2009 3:02am
I guess I struck a nerve? Yea-I am a loser(I lost so much money -been losing money for 5 years strait ) LOL LOL LOL!!!!! When u see the light(if u make it out of momma's basement) your wallet will be lighter I'm sure!
FF = Forex Faggots
  • #15
  • Apr 7, 2009 9:21am Apr 7, 2009 9:21am
Hi,

just want to jump in on this thread, broker bashing is par for the course (even me, I used to love Alpari but had terrible time with them recently) but I am looking to move my account to a spread betting firm and FXCM 'seems' to fit the bill, more so because they can bridge my metatrader platform to theirs.

So my question is, to any seasoned traders out there, are they really that bad or just the much of a muchness. Every broker gets a bad review somewhere.

I've been trading for a while, know what i am doing and need a reliable broker, I don't trade news and want low spreads. MT4 is a bonus, which FXCM seem to offer. 5 to 8 pips is ok for GBP/JPY spread betting.

cheers
PG
  • #16
  • Apr 7, 2009 11:30am Apr 7, 2009 11:30am
i doubt there are any "seasoned pros" profitable traders posting in forums, unless they are bored like i am right now i would say that 99.9 % of the people in forums and chat rooms are losing money. if one is making money what is the point in wasting your time in forums and chats? makes not sense. we have better things to do with out profits (unlike that 8 finger guy that cant spell straight) ...... hmmm, maybe its cause he has 8 fingers? LOL !! sorry dude ! anyway, i would say FXCM is a good place to move to. People might argue that coming to forums is a good place to see other peoples opinions, WHO CARES ! what does that matter? you have your plan on a trade, so trade it ! makes no difference what others think in trading but what YOU think.


Quoting pgtips
Hi,

just want to jump in on this thread, broker bashing is par for the course (even me, I used to love Alpari but had terrible time with them recently) but I am looking to move my account to a spread betting firm and FXCM 'seems' to fit the bill, more so because they can bridge my metatrader platform to theirs.

So my question is, to any seasoned traders out there, are they really that bad or just the much of a muchness. Every broker gets a bad review somewhere.

I've been trading for a while, know what i am doing and need a reliable broker,...
  • #17
  • Apr 8, 2009 3:44am Apr 8, 2009 3:44am
cheers mof,

I used the forum route because, well how else do you find a) a broker and b) broker track record, if any.

Anyway 8 fingers.. lol, I only have 8 fingers...

and 2 thumbs, so what gives, any more than that, well maybe you're lucky but you'll be wearing mittens for the rest of your life :-)

PG
  • #18
  • Apr 8, 2009 11:33am Apr 8, 2009 11:33am
haha , sorry some of those comments were not meant for you.

Quoting pgtips
cheers mof,

I used the forum route because, well how else do you find a) a broker and b) broker track record, if any.

Anyway 8 fingers.. lol, I only have 8 fingers...

and 2 thumbs, so what gives, any more than that, well maybe you're lucky but you'll be wearing mittens for the rest of your life :-)

PG
  • #19
  • Apr 9, 2009 1:09am Apr 9, 2009 1:09am
Quoting mofuniverse
i doubt there are any "seasoned pros" profitable traders posting in forums, unless they are bored like i am right now i would say that 99.9 % of the people in forums and chat rooms are losing money. if one is making money what is the point in wasting your time in forums and chats? makes not sense. we have better things to do with out profits ...
This actually makes good sense. And I do have only eight fingers(two fell off when I was trying to exit a trade using FXCM-LOL!!!) U know what I mean Mofo! I actually agree with everything u say (except that FXCM is a good Broker) You can also "take it" as good as u "give it". Hope we can be friends?
FF = Forex Faggots
  • #20
  • Apr 9, 2009 8:08am Apr 9, 2009 8:08am
Quoting 8fingers
I actually agree with everything u say (except that FXCM is a good Broker)...
Out of curiosity, what do you say that? Did you have a bad experience with them? I've heard from others who really like FXCM, but I'd really like to hear your opinion, as I'm very close to opening a live account there.

Thanks,
Ed in Columbus, OH
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