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Attachments: FXCM Continues Normal Operations, Raises $300M in Capital
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FXCM Continues Normal Operations, Raises $300M in Capital

  • #21
  • Jan 17, 2015 4:04am Jan 17, 2015 4:04am
Quoting Profit Daily
I posted this over a month ago {quote} I have 3 unregulated off shore brokers. Had a great trading week and other than not being able to trade CHF pairs for maybe 5 hours, neither I nor my brokers were impacted at all. To anyone still believing you should be with a US based regulated broker......get your head out of the sand.
Agreed.

My offshore broker barely noticed a blip. The extent of their "precautionary" actions? They temporarily raised the margin % a little on CFH pairs until the dust settled and they stayed in constant communications with their clients throughout it all. Unlike fxbs ... they run a proper business. Their trade execution is flawless as well .... also unlike fxbs.

So I agree Profit. If I'm not "protected" << LOL ... ... here in the states, why be shackled with the crap trading laws here?

For the record, I don't blame fxcm for the SNB event of course. But the way they handled it and the effect it had on them and their clients if not "bailed out"? One should seriously consider such things when seeking a br0ker ... me thinks.

Betting this post won't last long ...
Ghost Rider - WWTBMD?
  • #22
  • Jan 17, 2015 10:13am Jan 17, 2015 10:13am
This is why I have now diversified my risk between three offshore brokers. I feel I am just as safe, if not safer and have 500:1, no FIFO and hedging (which I do not do), but leverage and no FIFO are important to me. I love being able to open a position at like 7;1 leverage with 2-3 % risk and as trade goes in my favor, scale in to a point where I am at 200:1 with overall stop at b/e. I risked $20 on a euraud trade earlier in the week, profit was $844, never more than $20 at risk. You simply cannot do that here in the US. The regulations only prevent us from making money, they do not help.
  • #23
  • Jan 17, 2015 2:28pm Jan 17, 2015 2:28pm
Quoting albchr
{quote} Agreed. My offshore broker barely noticed a blip. The extent of their "precautionary" actions? They temporarily raised the margin % a little on CFH pairs until the dust settled and they stayed in constant communications with their clients throughout it all. Unlike fxbs ... they run a proper business. Their trade execution is flawless as well .... also unlike fxbs. So I agree Profit. If I'm not "protected" << LOL ... ... here in the states, why be shackled with the crap trading laws here? For the record, I don't blame fxcm...
Hey Chris or others from the US, can you point me in a direction for offshore brokers that you consider "Reputable". I'm currently with fxcm, and even though I was on the right side of the whole CHF tsunami; the way fxcm clients got swept under to the tune of $225 million, and the way fxcm delt with the situation is unnerving to say the least...I'm definitely scouting for another broker. Thanks in advance.
  • #24
  • Jan 18, 2015 5:25am Jan 18, 2015 5:25am
Quoting Dream Dog
{quote} Hey Chris or others from the US, can you point me in a direction for offshore brokers that you consider "Reputable". I'm currently with fxcm, and even though I was on the right side of the whole CHF tsunami; the way fxcm clients got swept under to the tune of $225 million, and the way fxcm delt with the situation is unnerving to say the least...I'm definitely scouting for another broker. Thanks in advance.
Hi Dream Dog, I'll put a few together for ya.
Ghost Rider - WWTBMD?
  • #25
  • Jan 18, 2015 8:17am Jan 18, 2015 8:17am
is fxcm going after those with negative balance?
  • #26
  • Last Post: Jan 18, 2015 8:45am Jan 18, 2015 8:45am
Quoting albchr
{quote} Hi Dream Dog, I'll put a few together for ya.
Could you post? I think a lot of US traders are wondering this now. Im with FXCM and I love their platform(best imo) but I love my money more.
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