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FXCM Discussion

  • #6,041
  • Jan 16, 2015 1:24pm Jan 16, 2015 1:24pm
Quoting hatzius
{quote} but it should be! % of their accounts are more than bankrupt. % are withdrawing funds or are posting on forums like this instead of trading and generating commissions. --- fxcm's business model isn't the same as yesterday. even if they are getting along with jefferies, they don't have the same cash-flow. so they should care about PR. they are f@cked anyway. please stop being in denial. withdraw everything before they'll file for chapter 11 (if you want to be on any short-list to recover some % of your funds). if i'm wrong, please forgive...
They are struggling to just stay in business. A rep can't comment here on anything that is taking place behind closed doors even if they are privy to that. The rep will be on a hiding to nothing doing more harm than good.

If anyone has funds with FXCM and needs a rep to comment here on whether they should withdraw or not, is a muppet and needs a slap, even if FXCM do get bailed.
  • #6,042
  • Jan 16, 2015 1:26pm Jan 16, 2015 1:26pm
Quoting OMGtrader
{quote} that is because it is not about to get shut down, at least yet.
Thanks for the reply OMG, I'm just scouring the net for info. I'm obviously very worried about my deposits. At what point would their platform stop taking trades? I don't understand if they are in breach of capital regs how they are continuing to operate?
  • #6,043
  • Jan 16, 2015 1:30pm Jan 16, 2015 1:30pm
Quoting neil324
{quote} They are struggling to just stay in business. A rep can't comment here on anything that is taking place behind closed doors even if they are privy to that. The rep will be on a hiding to nothing doing more harm than good. If anyone has funds with FXCM and needs a rep to comment here on whether they should withdraw or not, is a muppet and needs a slap, even if FXCM do get bailed.
great humor, neil!


but a bloody email, saying some personalized crap and sent collectively wouldn't have harmed anyone.
the only stuff i received from them yesterday was to let me know that i'm still able to fund my account by credit card until the 31st of jan.
then i forced them into confirming that i withdrew 95% of my account.
guess that works.
  • #6,044
  • Jan 16, 2015 1:31pm Jan 16, 2015 1:31pm
lol... "Margin Watcher" feature don't work so well...

FINALLY got a reply from Jason...

Inserted Video
  • #6,045
  • Jan 16, 2015 1:36pm Jan 16, 2015 1:36pm
Quoting TheGreatMilenko
{quote} According to their website all accounts are monitored by "margin watcher". This means that in theory you can never lose more than you deposit. You should never go into negative equity. If they've fucked up and allowed this to happen, for what ever reason I would like to think that clients owe fxcm nothing. Surely it's fxcm that owes their liquidity providers? Any way, I don't fully understand. Perhaps someone could put me right. :-)
Quoting str8
{quote} In theory you can never lose more than the deposit because FXCM has a no debit policy (one of the few brokers with this policy) not because of the margin watcher. I don't think FXCM can win if they sue the traders for the negative balances because they explicitly say they will credit the debit balances. It's mandatory for them to credit the debit balances since they had that policy so they don't have chances to win money if they sue the traders. If I'm wrong and they can recover the money I will close my FXCM account because their no debit...
I've never had a negative balance with FXCM and was always closed out automatically from a trade with that annoying margin call wav file. So, when EURCHF went down to these silly slippage levels far far away from what was specified as the 'stop', did it register this $200M loss only in FXCM's books but not by those that went into negative balance? I too don't fully understand why traders had negative balances.
  • #6,046
  • Jan 16, 2015 1:37pm Jan 16, 2015 1:37pm
Quoting hatzius
{quote} great humor, neil! but a bloody email, saying some personalized crap and sent collectively wouldn't have harmed anyone. the only stuff i received from them yesterday was to let me know that i'm still able to fund my account by credit card until the 31st of jan. then i forced them into confirming that i withdrew 95% of my account. guess that works.
hi hatzius, I put in withdrawl requests last night as well, Are you from the US? normal withdrawls usually took about 3-4 days before via ACH. I unfortunately have a good chunk of money tied up in my acct and am quite worried I'm going to see it any time soon.
  • #6,047
  • Jan 16, 2015 1:46pm Jan 16, 2015 1:46pm
Quoting wyley187
{quote} hi hatzius, I put in withdrawl requests last night as well, Are you from the US? normal withdrawls usually took about 3-4 days before via ACH. I unfortunately have a good chunk of money tied up in my acct and am quite worried I'm going to see it any time soon.
me too, sir!
at least we did the right thing!
somebody asked me what i was doing for a living. i said: "i worry!"
now i'm depressed!
i have a lot of money with them too!
almost 1 full year of income.
it hurts!
i did nothing wrong. i don't wanna blame anybody (except the swiss central bank). what i want is to survive.
anyway, in 3 days it'll be my birthday. full of sorrow and doubts! what is this - bad karma? wtf
  • #6,048
  • Jan 16, 2015 1:49pm Jan 16, 2015 1:49pm
Quoting TheGrind
lol... "Margin Watcher" feature don't work so well... FINALLY got a reply from Jason... https://www.youtube.com/watch?v=zDAmPIq29ro
  • #6,049
  • Jan 16, 2015 1:51pm Jan 16, 2015 1:51pm
i put 2 withdrawals, both are pending final approval. I honestly like FXCM, the platform and service, but I am not happy that they ended up with such a loss. I would had expected that they would had some loss, but not more than enough to kick them out of business..
Trade what you see, not what you think!
  • #6,050
  • Edited 2:16pm Jan 16, 2015 2:03pm | Edited 2:16pm
Quoting stoplossmatt
have placed SL order at 1,1950 3 months ago..it was enough time for FXCM to hedge against very obvious risk of eurchf floor being removed ..why nobody is saying why in the hell arent SL orders triggered..have invested 15 months learning forex and demo trading..starting live account 5 months ago and made 20% return very carefully..have opened small 15000 eur/chf position with SL at -1% of the account and now i am almost 25% in negative teritory...what do i need to do now, spend next 12 months of my free time on the market just to pull back everything...
This is so called 'Black Swan' event, http://en.wikipedia.org/wiki/Black_swan_theory
Last time it happen (with comparable magnitude) is long time ago, around '92. you know, the infamous story about certain individual (soros) breaking central bank.
this is very rare event.
Stop loss isnt triggered, because price slipped bellow our sl level. reason ; no liquidity. http://forexmagnates.com/industry-im...rency-markets/

i hope this can clear some of the confusion.
I see it all in between ...
  • #6,051
  • Jan 16, 2015 2:05pm Jan 16, 2015 2:05pm
Read my post
http://www.forexfactory.com/showthre...=70392&page=94
  • #6,052
  • Jan 16, 2015 2:11pm Jan 16, 2015 2:11pm
Leucadia(parent of Jefferies) gives FXCM $300 million in financing to continue normal operations.
  • #6,053
  • Jan 16, 2015 2:15pm Jan 16, 2015 2:15pm
http://www.zerohedge.com/news/2015-0...t-cnbc-reports
  • #6,054
  • Jan 16, 2015 2:15pm Jan 16, 2015 2:15pm
Quoting OMGtrader
i put 2 withdrawals, both are pending final approval. I honestly like FXCM, the platform and service, but I am not happy that they ended up with such a loss. I would had expected that they would had some loss, but not more than enough to kick them out of business..
Are you from the US? Where can you see the "pending final approval" message?
  • #6,055
  • Jan 16, 2015 2:19pm Jan 16, 2015 2:19pm
So what does this mean to those with negative balance at FXCM?
  • #6,056
  • Jan 16, 2015 2:29pm Jan 16, 2015 2:29pm
Leucadia to provide $300M in financing to FXCM
http://www.cnbc.com/id/102343957
Learn, a forex trader must, unlearn and relearn he will.
  • #6,057
  • Jan 16, 2015 2:35pm Jan 16, 2015 2:35pm
sound like a good buy at a single digit stock price...if it's open for trading again.
  • #6,058
  • Jan 16, 2015 2:35pm Jan 16, 2015 2:35pm
FXCM given cash $300M


Back to normal
kiss the trend
  • #6,059
  • Jan 16, 2015 2:38pm Jan 16, 2015 2:38pm
Quoting fx-trader777
FXCM given cash $300M Back to normal
Can anyone explain in layman's terms what this deal actually means? How will it change FXCM if at all?
  • #6,060
  • Jan 16, 2015 2:40pm Jan 16, 2015 2:40pm
Quoting hg2014
{quote} Can anyone explain in layman's terms what this deal actually means? How will it change FXCM if at all?
yeah, someone strong at fundamentals, some valuation guy! please enlighten us!
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