Class Action Lawsuit Against FXCM | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

FXCM gets another CFTC fine, while Drew Niv leaves FXCM UK board 17 replies

FXDD Class action lawsuit 5 replies

Class Action Lawsuit Against FXDD 6 replies

Attachments: Class Action Lawsuit Against FXCM
Exit Attachments

Class Action Lawsuit Against FXCM

  • #21
  • Feb 10, 2011 12:39pm Feb 10, 2011 12:39pm
Quoting ForexMagnates
You'll see them in full on Forex Magnates next week.

Porkpie: the dude didn't lose $150 but $150,000...
seems to me some loser wants to blame the broker ...
  • #22
  • Feb 10, 2011 12:46pm Feb 10, 2011 12:46pm
Quoting Platypus
of course because otherwise you risk having your hand cut off or even worse... you lose your head, in the literal way...right? thats how it may work in your country, but here in America we still have some laws.


Team America, showing these third world f*cks how its done. Alright..
  • #23
  • Feb 10, 2011 12:51pm Feb 10, 2011 12:51pm
I cannot comment on this, but a statement from FXCM can be found on our investor relations webpage.

-Jason
  • #24
  • Feb 10, 2011 1:11pm Feb 10, 2011 1:11pm
Quoting tar
This is his point exactly , there is "law" in america or should be, which mean if u dont have a strong case and u dont have a proof it will turn against u , y u took it personal ? he gave u an example from a case in the US ...

Do you work for a broker tar?

He misunderstood my post, not the other way around. Read his first post. On my answer to it I stated "educate yourself, search for a lawyer".

I'm not taking anything personally, actually, i don't really care if some people that can't even understand a post get screwed by brokers, be it on trading or on court.

I'm talking to people interested in beat the system, if you are not one of them move forward.
  • #25
  • Feb 10, 2011 1:21pm Feb 10, 2011 1:21pm
Quoting Platypus
Do you work for a broker tar?

He misunderstood my post, not the other way around. Read his first post. On my answer to it I stated "educate yourself, search for a lawyer".

I'm not taking anything personally, actually, i don't really care if some people that can't even understand a post get screwed by brokers, be it on trading or on court.

I'm talking to people interested in beat the system, if you are not one of them move forward.
y u assume i work for a broker ? i dont care for Fxcm or any other "otc" broker . good luck on "beat the system"
  • #26
  • Feb 10, 2011 1:43pm Feb 10, 2011 1:43pm
Quoting shrike
I dont know how americans behave. Over here you have to carefully weigh litigation-risk vs. the amount in question, or you will pay. Maybe proud americans dont need to do that.
Some, but not all, go about things a little differently on this side of the pond

Man Sues Bank of America for $1.7 Billion Trillion
  • #27
  • Feb 10, 2011 2:23pm Feb 10, 2011 2:23pm
Haha, it appears FXCM and their "diabolical software application" gets off easy, compared to that..

From the Forexmagnate article, it sounds like BS. Diabolical software, racketeering IT devs, apparently he doesnt like their demo either. Hopefully the filings contain more substantial accusations.

I still like it, if this case really goes anywhere, its likely there will be some juicy FXCM internals out in the open.
  • #28
  • Feb 10, 2011 3:19pm Feb 10, 2011 3:19pm
Any complaints about momentous over excessive widening spreads knocking out stops on profitable trades?
  • #29
  • Feb 10, 2011 4:49pm Feb 10, 2011 4:49pm
Quoting Porkpie
You did not see the news about the FXCM Lawsuit on their right panel of the home page, because they removed it almost as fast as it arrived.
Quoting Porkpie
This is disgraceful behaviour of FF imo.
Sorry to butt in here everyone, but I have to defend FF from the false conspiracy Porkpie has promoted.

The news story was never deleted as Porkpie claimed. It is right here and was never deleted or removed from the homepage. It was bumped off the homepage because newer stories came in which is normal operation.

Second, we moved this thread to the Broker Discussion forum because it's about a broker. This is our standard policy which can clearly be seen if you compare the Trading Discussion threads to the Broker Discussion threads.
How can I help you? Send me a Private Message!
  • #30
  • Feb 10, 2011 5:11pm Feb 10, 2011 5:11pm
FXCM, those son of bitches, finally got their pay off
  • #31
  • Feb 10, 2011 5:38pm Feb 10, 2011 5:38pm
down with fxcm

i also have a thread on this
http://www.forexfactory.com/showthread.php?t=274334

After about five months, Dickten had deposited total of $5,400 in the personal
account. The majority of trades -- 12 out of21 -- had generated losses. The account balance
stood at $4,000. Thus, Dickten had, at this point, lost $1,400. During this time, Dickten noticed
large discrepancies between inter-market prices and prices quoted by FXCM, slippage in fills,
price spikes that regularly triggered stop loss orders, and unusually wide double and triple-digit
bid-ask spreads. Dickten began asking FXCM employees questions about these matters, but
consistently received evasive, incomplete and unsatisfactory replies. Despite his umesolved
concerns, Dickten decided to continue trading, because he was assumed that eventually he would
better understand fore x trading, and because he was assured by FXCM's representations that it
was "regulated."
9. After about five and a half months, for the first time, Dickten' s personal account was
hit with margin calls and forced liquidations that resulted in his largest trading loss so far: $640.
After a series of communications, Dickten similarly failed to receive straightforward answers to
his questions about the margin calls. Dickten's recollection about these communications was....."

short fxcm ,lo;
  • #32
  • Feb 10, 2011 5:40pm Feb 10, 2011 5:40pm
u know whats interesting
i watched wall street warriors
and fxcm was in the show,with dailyfx,
its interesting that they share the same ny office
thats tells u something
  • #33
  • Feb 10, 2011 6:01pm Feb 10, 2011 6:01pm

Seems to me the best way to deal with brokers is to learn how they work and trade within those boundaries. If brokers are messing with scalping strategies, its time to find another strategy. I think that arbitrarily widening spreads is a pretty good sign of that. Brokers do want your business; but they have to protect themselves at the same time. Things don't work to the way we think they should and especially not to our advantage. Think of casinos and blackjack. Once the casinos caught onto the advantage that card counters had, they changed the rules (multi-deck boots) and then they started banning suspected card counters from their premises. I don't think that means there are no blackjack winners - they just have to use something other than card counting.







  • #34
  • Feb 10, 2011 7:58pm Feb 10, 2011 7:58pm
Quoting eurotrash
Only if you don't already know that DailyFX is owned by FXCM...
whats even interesting is that the people that i saw in the documentary from dailyfx,the main analysts ,i saw them again on the gft commercial
so how does all this forexbroker world work then?
so the fxcm owned daily fx guys are promoting a competitor
hmmmm,
something stinx
http://2.bp.blogspot.com/_NV6nNWY338...oley+moley.jpg
  • #35
  • Feb 10, 2011 8:07pm Feb 10, 2011 8:07pm
Quoting Platypus
Yep ...thats good advice....just give up of your rights because somebody sad so. Thats brokers talk.

Thats not how Americans behave. I was not born here but my kids are and I teach them to respect others rights but to respect their own rights too.

Don't let anybody intimidate you, if no one fight for their own rights the overall self right issue gets weaker and weaker.

If you think a broker screwed you, educate yourself, take advice from a lawyer and go after your rights.

Fight!! Don't just stay in a fetal position being kicked by the fat...
Hi eryone.. I'm a FXCM customer &using FXCM Trading Station to trade for abt a year now.. there r some issues with the trading station but they upgraded it & now it perform better.. but if this accusation'strue maybe i shld change my broker..anyone can suggest a good broker to me? I heard FX Solutions is a good broker.. by the way i'm living in Malaysia
  • #36
  • Feb 10, 2011 8:31pm Feb 10, 2011 8:31pm
Quoting mazlan660
Hi eryone.. I'm a FXCM customer &using FXCM Trading Station to trade for abt a year now.. there r some issues with the trading station but they upgraded it & now it perform better.. but if this accusation'strue maybe i shld change my broker..anyone can suggest a good broker to me? I heard FX Solutions is a good broker.. by the way i'm living in Malaysia
You better find another broker and don't wait until something really big or worst happened only take action. I don't know much about FX Sol, playing their demo way back in 2008 which i noticed their spread pretty high.

Good luck.

P.S : i'm from Malaysia too.
  • #37
  • Feb 10, 2011 8:36pm Feb 10, 2011 8:36pm
oanda,mb ,theres many,go markets,vantage fx
they are my safe list of low spead safe brokers
  • #38
  • Feb 10, 2011 10:14pm Feb 10, 2011 10:14pm
SWEET. Its about time
Attached Image (click to enlarge)
Click to Enlarge Name: fxcm_faul_play.png Size: 127 KB
  • #39
  • Feb 10, 2011 10:33pm Feb 10, 2011 10:33pm
Any b0rker that uses the MT4 Dealer Plugin or similar should be brought up on charges and the CEO, managers and supervisors should be banned from the industry after they spend some time in the clinker!
  • #40
  • Feb 10, 2011 10:34pm Feb 10, 2011 10:34pm
u can just change the server and execute ur trade on the other server
that happens to other brokers as well

what does the off quotes actually mean?
0 traders viewing now