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Forex.com, a division of Gain Capital, Discussion

  • #1
  • First Post: Feb 26, 2013 10:55am Feb 26, 2013 10:55am
Please post any questions or comments pertaining to FOREX.com, a division of Gain Capital, here. This is an open discussion for feedback, questions and general inquires. However, if you have a time sensitive inquiry or one containing personal or private/security sensitive information please contact our support team via chat or phone. http://www.forex.com/support.html
  • #2
  • Mar 1, 2013 10:15pm Mar 1, 2013 10:15pm
Is the Gain GTX ECN platform available to larger retail clients or just ECPs?
  • #3
  • Mar 9, 2013 3:03am Mar 9, 2013 3:03am
Quoting fx_insider
Is the Gain GTX ECN platform available to larger retail clients or just ECPs?
waiting
  • #4
  • Mar 11, 2013 4:36pm Mar 11, 2013 4:36pm
Quoting fx_insider
Is the Gain GTX ECN platform available to larger retail clients or just ECPs?
Thank you for your inquiry, fx_insider. Yes, part of the GTX account opening process is qualifying as an ECP (Eligible Contract Participant). Please let me know if you have any other questions about the GTX platform or the ECP qualification parameters.
  • #5
  • Mar 12, 2013 5:56am Mar 12, 2013 5:56am
Hi!
how often the news update on forex.com?
  • #6
  • Mar 12, 2013 11:01am Mar 12, 2013 11:01am
Quoting Southern
Hi!
how often the news update on forex.com?
Hello Southern,
The Today’s News section of the platform updates every couple of minutes as the stream is provided by Dow Jones Newswires. Keep in mind that you can expand each of the headlines by clicking on it to read the full article.
  • #7
  • Mar 16, 2013 5:10pm Mar 16, 2013 5:10pm
How come the NFA fined forex.com only $459000 for cheating its clients?
  • #8
  • Edited Mar 18, 2013 1:26pm Mar 17, 2013 4:03pm | Edited Mar 18, 2013 1:26pm
check this out:http://www.bigmiketrading.com/forex-...nfa-fraud.html

i was scammed an never answered by iamfx in 2013 a gallant capital firm.

EDIT: sorry iamfx is GALLANT CAPITAL. Not gain capital.
  • #9
  • Edited 1:24pm Mar 18, 2013 1:09pm | Edited 1:24pm
Wow, that complaint was a long time ago, although the charges are serious. Is there anything happening lately? FXCM NDD has large spreads, they can not compete with Oanda. Forex.com is a dealing desk, so you have to imagine they will be tempted to manipulate trades if you start winning or just close your account. Being in the USA sucks, because we are limited to the brokers we can use. Seems like the brokers got laws passed to keep out competition. My friend said he could not even open an account at Oanda, so maybe I was lucky to have opened it earlier. I was at MB Trading, but the slippage was intolerable and it is supposed to NDD I believe.
  • #10
  • Mar 19, 2013 9:03am Mar 19, 2013 9:03am
Anyone have experience with Forex.com? I am using Oanda and I am happy but I am looking for more options. I just left MB Trading FreeEXN because the slippage was rediculous, 1, 5, 15+ pips and I trade micro lots (I will continue to tell people this because my experience was so bad at MBT). Is Forex.com good? My priority is on execution not spread. MBT has a good spread, but it is meaningless considering the slippage. Why no reviews of Forex.com, the FXCM forum is packed.
  • #11
  • Mar 19, 2013 12:15pm Mar 19, 2013 12:15pm
Quoting midnight
How come the NFA fined forex.com only $459000 for cheating its clients?
Thank you for your inquiry midnight. This was our initial response to the NFA BCC Case back in 2010:

“On October 27, 2010, GAIN Capital entered into a settlement with the National Futures Association to resolve the pending proceeding against the firm, which included three claims relating to execution practices in its Metatrader platform and its former weekend liquidation policy. The company entered into a settlement without admitting or denying NFA’s allegations and agreed to pay a fine of $459,000. As part of the settlement, the company also agreed to provide appropriate refunds to those customers who were adversely affected by the practices described in the NFA complaint.”

Since 2010 we have been working on providing transparency of execution that we provide to our clients. This information is readily accessible on our site via the following links:

FOREX.com Trade Execution Statistics
http://www.forex.com/trade-execution-statistics.html

FOREX.com Execution Quality Indicator February 2013
Execution Speed
99.9% of trades executed in less than 1 second (Represents all market and instant execution orders)
http://www.forex.com/resources/image...n_1_second.jpg

.07 seconds is the average execution speed (Elapsed time between market order receipt and execution)
http://www.forex.com/resources/image...tion_speed.jpg

Execution Price
71% of limit orders price improved (Limit orders executed at a price better than the requested price)
http://www.forex.com/resources/image...imit_order.jpg

1.05 pips is the average price improvement per limit order [Pip difference between requested and executed price of price improved limit orders (currencies only)]
http://www.forex.com/resources/image...e_improved.jpg

100% of limit orders filled "at or better" (Limit orders executed at the requested rate or better)
http://www.forex.com/resources/image..._or_better.jpg

Execution Rate
99.9% of trades successfully executed (Includes all valid market, instant execution, limit and stop order requests)
http://www.forex.com/resources/image...y_executed.jpg

FOREX.com Execution Scorecard
http://www.forex.com/pricing-execution-scorecard.html

Of course if there are any issues or discrepancies with your execution or anything else please contact us immediately. We will ensure that your account is treated fairly.
  • #12
  • Mar 19, 2013 12:16pm Mar 19, 2013 12:16pm
Quoting pbx06
check this out:http://www.bigmiketrading.com/forex-...nfa-fraud.html

i was scammed an never answered by iamfx in 2013 a gallant capital firm.

EDIT: sorry iamfx is GALLANT CAPITAL. Not gain capital.
Greetings pbx06. Thank you for the edit and the clarification. If there is ever an issue where you think you may have been wronged by an introducing broker or affiliate of our company please contact our support team immediately.
  • #13
  • Mar 19, 2013 12:22pm Mar 19, 2013 12:22pm
Quoting tony95
Wow, that complaint was a long time ago, although the charges are serious. Is there anything happening lately? FXCM NDD has large spreads, they can not compete with Oanda. Forex.com is a dealing desk, so you have to imagine they will be tempted to manipulate trades if you start winning or just close your account. Being in the USA sucks, because we are limited to the brokers we can use. Seems like the brokers got laws passed to keep out competition. My friend said he could not even open an account at Oanda, so maybe I was lucky to have opened...
Thanks for posting tony95. Please reference my reply (Post# 11) to member midnight and check out our trade execution statistics and execution scorecard. For quick reference here are the two links:

http://www.forex.com/trade-execution-statistics.html
http://www.forex.com/pricing-execution-scorecard.html

However, to address your specific concerns we strive to execute your trades as quickly as possible to ensure you get the best possible price. We routinely handle over 120,000 trade requests a day and, due to our highly automated trade execution engine, are able to execute over 99% of trades in less than one second.
The benefit of trading with FOREX.com versus a so-called ‘no dealing desk’ broker is that we take full responsibility for providing you with consistent liquidity, low spreads, and quality execution on every trade. We don’t outsource that responsibility to third parties, which can result in longer execution times, erratic spreads, and slippage.
  • #14
  • Mar 19, 2013 12:28pm Mar 19, 2013 12:28pm
The trade statistics you provide are pretty useless given the disclaimer at the bottom of the page ....
"Excludes trades that received non-standard order processing and trades executed via the MetaTrader platform(s)."

So what should you expect if you use MetatTrader? I have not a clue.

Thanks,
Tony




Quoting Jack Morris
Thanks for posting tony95. Please reference my reply (Post# 11) to member midnight and check out our trade execution statistics and execution scorecard. For quick reference here are the two links:

http://www.forex.com/trade-execution-statistics.html
http://www.forex.com/pricing-execution-scorecard.html

However, to address your specific concerns we strive to execute your trades as quickly as possible to ensure you get the best possible price....
  • #15
  • Mar 19, 2013 11:28pm Mar 19, 2013 11:28pm
Thank you for your inquiry midnight. This was our initial response to the NFA BCC Case back in 2010:

“On October 27, 2010, GAIN Capital entered into a settlement with the National Futures Association to resolve the pending proceeding against the firm, which included three claims relating to execution practices in its Metatrader platform and its former weekend liquidation policy. The company entered into a settlement without admitting or denying NFA’s allegations and agreed to pay a fine of $459,000. As part of the settlement, the company also agreed to provide appropriate refunds to those customers who were adversely affected by the practices described in the NFA complaint.”

So paying a fine of $459,000 in not an admission of guilt? Is it a donation? You guys are gangsters/criminals. You cheated your clients and you will never get a cent off me.
  • #16
  • Mar 19, 2013 11:30pm Mar 19, 2013 11:30pm
Also if anyone is interested i can upload a video of how these brokers cheat us using metatrader 4. Two big companys who did get found guilty were FXCM and forex.com.
  • #17
  • Mar 20, 2013 11:03am Mar 20, 2013 11:03am
I can not believe noone has an experience with this broker. Still looking for a review, actually, I would like hear several. Thanks.
  • #18
  • Mar 20, 2013 12:58pm Mar 20, 2013 12:58pm
Quoting midnight
Also if anyone is interested i can upload a video of how these brokers cheat us using metatrader 4. Two big companys who did get found guilty were FXCM and forex.com.
That would be interesting. Thanx
  • #19
  • Mar 21, 2013 6:01pm Mar 21, 2013 6:01pm
Quoting ThunderLight
That would be interesting. Thanx
sorry for the late reply.... i couldnt find that video but im pretty sure its the same as this one

Inserted Video


A guy called ECNJESUS exposed these crooks by uploading several videos and making many posts around various forums. Most got deleted. Anyway all the credit to him.

And dont think this is only isolated to forex.com. Similar charges were laid on FXCM, one of the biggest brokers in the US. They are low life scum...
  • #20
  • Mar 21, 2013 6:10pm Mar 21, 2013 6:10pm
Quoting tony95
I can not believe noone has an experience with this broker. Still looking for a review, actually, I would like hear several. Thanks.
I cant believe after i pointed out that they have ripped off their customers you are still interested in them! Why not just hand you money over to them? Saves you doing the paperwork to become a client

My advice is any broker you are interested in, do a search including the words "mt4 dealer plugin" and the brokers name. Thats a good start. If they have been found guilty of using the dealer plug in than they are dishonest and you can cross them off your list.
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