Dear Jason Rogers,
As you know, the anniversary of the SNB event just occurred, and it reopened an old wound. I have been a small, retail FXCM UK client for years. Like many others, I had a negative account balance that day. However, unlike so many others, my negative balance was not forgiven, and the money is gone. Why? Because I made the mistake of believing FXCM and chosing to support FXCM.
You see, my small trading had been successful enough that I wanted to expand in my own small way. My experience to that point with FXCM had been good, and I believed all your postings, FAQs, etc. about no negative balances, system protections to prevent it, etc. So, when I wanted another account to keep my new, different trading separate from the first, instead of taking away some of my gains and going to another broker I supported FXCM and opened another account, even adding additional funds to it. Huge mistake. When the SNB's action revealed your internal failings, rather than support clients who had supported you, you took the easy way and grabbed money from my other account - because it was already in your hands and you easily could.
To me, it's a sizeable loss. To you, it's not even a rounding error.
Since those days I have occasionally looked on-line for updated information, but there are evidently not many of us who were in this situation. But I know from another context of one other whose 2nd account funds were restored. So I wonder: Why not mine? Recently I found this thread in FF and have seen some of your postings. I hope you will be able to tell me this is a simple oversight error, and that FXCM will definitely take care of this situation, treat me right, and support in turn the clients who supported you before.
Thanks.
As you know, the anniversary of the SNB event just occurred, and it reopened an old wound. I have been a small, retail FXCM UK client for years. Like many others, I had a negative account balance that day. However, unlike so many others, my negative balance was not forgiven, and the money is gone. Why? Because I made the mistake of believing FXCM and chosing to support FXCM.
You see, my small trading had been successful enough that I wanted to expand in my own small way. My experience to that point with FXCM had been good, and I believed all your postings, FAQs, etc. about no negative balances, system protections to prevent it, etc. So, when I wanted another account to keep my new, different trading separate from the first, instead of taking away some of my gains and going to another broker I supported FXCM and opened another account, even adding additional funds to it. Huge mistake. When the SNB's action revealed your internal failings, rather than support clients who had supported you, you took the easy way and grabbed money from my other account - because it was already in your hands and you easily could.
To me, it's a sizeable loss. To you, it's not even a rounding error.
Since those days I have occasionally looked on-line for updated information, but there are evidently not many of us who were in this situation. But I know from another context of one other whose 2nd account funds were restored. So I wonder: Why not mine? Recently I found this thread in FF and have seen some of your postings. I hope you will be able to tell me this is a simple oversight error, and that FXCM will definitely take care of this situation, treat me right, and support in turn the clients who supported you before.
Thanks.
