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FXCM Discussion

  • #8,021
  • Sep 3, 2015 11:23am Sep 3, 2015 11:23am
Quoting Mr.cool
Hello, I am from Indonesia and i am using FXCM. its good tho, no problem at all. fast execution. been using it for maybe more than a year and just started a new account with larger capital
Yea right!
  • #8,022
  • Edited 1:53pm Sep 3, 2015 1:26pm | Edited 1:53pm
Quoting Markula
Hello I am considering revitalizing with FXCM after switching from the SNB debacle. My question is how long is FXCM going to exist in the US? Honestly? At least 2-3 years? Both Citifx and mb trading are now gone/bought out/merged whatever. If I go to back to FXCM, can I have any semblance of assurance that they are going to stick around? I really want to but am still afraid of another disaster because they have the best execution.
Hi Markula,

We pride ourselves in continuing to provide our clients with the same level of service and support to which they are accustomed. It's important to note that despite the events of January 15th, our capitalization remains at levels similar to before the SNB event: http://bit.ly/10Pq5FJ

You asked specifically about the US, so below are the latest capital figures for our US entity as compared to all other US-regulated forex brokers (RFEDs) as reported to the CFTC.

Attached Image


The column that says "Total Amount of Retail Forex Obligation" shows the amount of money retail traders have on deposit with FXCM US which is over 50% greater than what is on deposit with the number 2 forex broker in the US.

Our customer equity grew by $68 million or 10% last quarter. While $47 million of that increase was due to our acquisition of CitiFXPro, the remainder was organic. It's a strong vote of confidence that Citibank chose FXCM for its customers when they decided to exit the business in June.
  • #8,023
  • Sep 3, 2015 1:32pm Sep 3, 2015 1:32pm
Quoting Mr.cool
Hello, I am from Indonesia and i am using FXCM. its good tho, no problem at all. fast execution. been using it for maybe more than a year and just started a new account with larger capital
Welcome to the forum, Mr.cool

I'm glad to hear of your positive experience trading with FXCM!
  • #8,024
  • Sep 3, 2015 2:08pm Sep 3, 2015 2:08pm
Quoting Jason Rogers
{quote}It's a strong vote of confidence that Citibank chose FXCM for its customers when they decided to exit the business in June.

Interesting interpretation......
  • #8,025
  • Sep 3, 2015 2:15pm Sep 3, 2015 2:15pm
Quoting Markula
Hello I am considering revitalizing with FXCM after switching from the SNB debacle. My question is how long is FXCM going to exist in the US? Honestly? At least 2-3 years? Both Citifx and mb trading are now gone/bought out/merged whatever. If I go to back to FXCM, can I have any semblance of assurance that they are going to stick around? I really want to but am still afraid of another disaster because they have the best execution.
In my opinion you have to diversify.

Those stupid brokers don't want to do their homework so they get less money.

Instead of depositing all your money in just 1 broker spread among 5 or 6 brokers.

Tough times works as a cleansing agent. Only the best brokers will remain. The ones to listen to their customers.
So, you think you have rights? LOL
  • #8,026
  • Sep 3, 2015 5:32pm Sep 3, 2015 5:32pm
jason, does fxcm offer stock trading service?

and separately I have been watching all SNB debacle and aftermath, I have noticed the fxcm shares in 8 month slide since the SNB crash, and never recovered, now at pennyland, closed at 0.93 cents today, So my question is ,if company is financially sound (like you keep repeating and copy paste same thing over and over again) , then how come FXCM shares under $1 , Doesnt share price the ultimate indicator of a financially sound company! Something doesnt add up
Since Lucedia pretty much pulling the strings here and owns fxcm by the balls , so will LUK ever allow this company( stock) to recover?
  • #8,027
  • Sep 4, 2015 6:34am Sep 4, 2015 6:34am
Quoting Markula
mb trading are now gone/bought out/merged whatever
At least this part seems like it could be a positive development.
  • #8,028
  • Sep 4, 2015 8:16am Sep 4, 2015 8:16am
Quoting nbfx
{quote} Interesting interpretation......
touche
Best regards, Zef
  • #8,029
  • Sep 4, 2015 11:05am Sep 4, 2015 11:05am
Quoting kinse
jason, does fxcm offer stock trading service? and separately I have been watching all SNB debacle and aftermath, I have noticed the fxcm shares in 8 month slide since the SNB crash, and never recovered, now at pennyland, closed at 0.93 cents today, So my question is ,if company is financially sound (like you keep repeating and copy paste same thing over and over again) , then how come FXCM shares under $1 , Doesnt share price the ultimate indicator of a financially sound company! Something doesnt add up Since Lucedia pretty much pulling the strings...
Hi Kinse,

Welcome to the forum!

While FXCM offers a stock trading service at this time, it's worth noting that it is one of the non-core assets we are selling to repay the loan we received from Leucadia in January. As our CEO Drew Niv mentioned during our most recent earnings call, our plan is to pay back that loan by the end of the year, and we have outlined the non-core asset sales to accomplish this:

Attached Image (click to enlarge)
Click to Enlarge Name: DTfLu3b.jpg Size: 161 KB


Quoting kinse
and separately I have been watching all SNB debacle and aftermath, I have noticed the fxcm shares in 8 month slide since the SNB crash, and never recovered, now at pennyland, closed at 0.93 cents today, So my question is ,if company is financially sound (like you keep repeating and copy paste same thing over and over again) , then how come FXCM shares under $1 , Doesnt share price the ultimate indicator of a financially sound company!
The stock price is a reflection of shareholder value as a result of the Leucadia loan. While I can't personally comment on it beyond citing info that's already publicly available, below is an excerpt from a LeapRate article that @shrike pointed out recently:

"most of the overall writeoff/loss is non cash and non operational, and has nothing to do with FXCMs operations and corporate health, but rather with accounting charges FXCM needs to take due to US GAAP accounting rules thanks to the future benefit that FXCM gave up to Leucadia."

Quoting shrike
Here is a nice article about FXCM stock price: http://leaprate.com/2015/08/misunder...and-valuation/ Its not very attractive to hold fxcm stock due to the loan-agreement with Leucadia. The core retail business is doing alright tho.
The terms of the Leucadia loan impact FXCM shareholders, not FXCM account holders. I'm not authorized to comment on our stock, but you're welcome to contact our Investor Relations department with any related questions: http://bit.ly/1SEYg7W
  • #8,030
  • Sep 4, 2015 11:13am Sep 4, 2015 11:13am
Please note that I will be out of the office on Monday for the Labor Day holiday here in the US. Here's a link to our CFD holiday trading hours: http://www.forexfactory.com/showthre...79#post8469979

Forex trading hours remain unchanged, and our live customer support team remains available 24 hours a day, 7 days a week: http://bit.ly/1ilO0qa

I will respond to your forum posts when I return to the office on Tuesday. Have a great weekend!
  • #8,031
  • Sep 7, 2015 10:17am Sep 7, 2015 10:17am
Was trading under FXCM twice. The second time, which is 1-2 months ago. The server went down for a few times and literally lost my account after 2 failures. Was trading under this CMIS which claimed they're under FXCM. Not too sure if I should really go on with FXCM now...
  • #8,032
  • Sep 8, 2015 2:45pm Sep 8, 2015 2:45pm
Quoting LzJustin
Was trading under FXCM twice. The second time, which is 1-2 months ago. The server went down for a few times and literally lost my account after 2 failures. Was trading under this CMIS which claimed they're under FXCM. Not too sure if I should really go on with FXCM now...
Hi Justin,

I just did an internet search on the company you mentioned. While their website address bears some resemblance to ours, they are not affiliated with us. Did they tell you that your account would be set up with FXCM?
  • #8,033
  • Sep 8, 2015 5:22pm Sep 8, 2015 5:22pm
Quoting LzJustin
Was trading under FXCM twice. The second time, which is 1-2 months ago. The server went down for a few times and literally lost my account after 2 failures. Was trading under this CMIS which claimed they're under FXCM. Not too sure if I should really go on with FXCM now...
Nothing to do with FXCM my friend.
  • #8,034
  • Sep 8, 2015 5:36pm Sep 8, 2015 5:36pm
Jason.

I am looking to clear some trades via spot, currently trading with Tradestation(yes I am jumping ship). I use sierra charts for futures I remember some years ago Sierra has FXCM for forex on demo. Is that still available. Live trading?

Thanks.
  • #8,035
  • Sep 8, 2015 6:07pm Sep 8, 2015 6:07pm
News is just out , CFTC fined fxcm for fraud, almost $1 million fine

here is the leaprate link ;
http://leaprate.com/2015/09/cftc-ord...ds-violations/

Jason how can you explain that?
  • #8,036
  • Sep 9, 2015 10:17am Sep 9, 2015 10:17am
Quoting kinse
Jason how can you explain that?
Hi Kinse,

Without admitting or denying the allegations against it, FXCM has settled CFTC charges that it failed to supervise an account ultimately determined to have been involved in wrongdoing and for inadvertently omitting certain documents from its responses to a CFTC documents request. In addition to certain monetary penalties as more specifically set forth in the CFTC Order, FXCM has agreed to take steps to avoid similar occurrences in the future.
  • #8,037
  • Sep 9, 2015 5:01pm Sep 9, 2015 5:01pm
Quoting wp3vv
I use sierra charts for futures I remember some years ago Sierra has FXCM for forex on demo. Is that still available. Live trading?
Yes wp3vv, I've just sent you a PM with details
  • #8,038
  • Sep 10, 2015 2:27am Sep 10, 2015 2:27am
Attached Image (click to enlarge)
Click to Enlarge Name: FXCM - 1.PNG Size: 20 KB
http://www.financemagnates.com/forex...-underperform/
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #8,039
  • Sep 10, 2015 4:53am Sep 10, 2015 4:53am
https://www.macroaxis.com/invest/rat...-Of-Bankruptcy



Attached Image (click to enlarge)
Click to Enlarge Name: BN-HN152_0320fx_P_20150320080721.jpg Size: 103 KB
Best regards, Zef
  • #8,040
  • Sep 10, 2015 5:07am Sep 10, 2015 5:07am
Quoting wp3vv
Jason. I am looking to clear some trades via spot, currently trading with Tradestation(yes I am jumping ship). I use sierra charts for futures I remember some years ago Sierra has FXCM for forex on demo. Is that still available. Live trading? Thanks.
Yes, Sierra chart does have a free data from FXCM for demo.

If you want to trade live from your Sierra charts, you need to open an account with a minimum of $10,000. Check out the Sierra chart website for more details.
Without VSA, you're playing checkers while the Smart Money plays chess.
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