- #1
- First Post: Mar 14, 2016 6:56pm Mar 14, 2016 6:56pm
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #4
- Mar 16, 2016 3:49pm Mar 16, 2016 3:49pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #5
- Mar 16, 2016 4:20pm Mar 16, 2016 4:20pm
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
{quote} To clarify, the public company (FXCM Inc.) will change its name and ticker symbol (NYSE: FXCM) as we announced this in the press release which included full details of our restructure with Leucadia, however FXCM the broker will not change its name at all. We will still remain FXCM within all of our entities.
- #7
- Mar 16, 2016 4:28pm Mar 16, 2016 4:28pm
- Joined Mar 2011 | Status: I should be on your ignore list | 5,597 Posts
- #8
- Mar 17, 2016 2:49pm Mar 17, 2016 2:49pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
{quote} Please give an update on whether FXCM client funds are PERFECTLY safe or not as of today. Be honest.
FXCM is one of the only retail forex brokers in the world to be regulated on three continents. That means our financials are subject to a greater level of scrutiny than smaller, less regulated brokers. The provisions that regulators have in place to protect client money vary from region to region.
In the UK, FXCM client funds are segregated in accordance with FCA rules and they are insured for up to 50,000 per client by the Financial Services Protection Scheme. In Canada, client funds are segregated in accordance with IIROC rules and they are insured for up to $1 milllion per client by the Canadian Investor Protection Fund. In Australia, client funds are segregated in accordance with ASIC rules, but there is no insurance for accounts comparable to what is found in the UK or Canada.
Its worth noting that there is no legislation in the US to protect forex accounts either through client funds segregation or insurance. That makes it all the more important for US traders to evaluate the financials of any broker before trading with them. In light of this, it shows a great vote of confidence by retail traders that they have more money on deposit with FXCM than any other US-regulated forex broker.
Furthermore, since we are a publicly-traded company, traders have access to information about our loan from Leucadia. By contrast, most other forex brokers are privately-held companies, so it's hard to know how much debt they have on their books or the state of their finances.
We believe in making our financials transparent so that clients and potential traders know about the performance and health of FXCM as a company. We also believe all traders should be asking his or her broker some pivotal questions regarding the company's financial stability. FXCM's financials are audited by Ernst & Young, which is one of the top four ranked accounting firms in the world.
As of November 5, 2015:
- Adjusted Q3/15 revenues of $59.6 million
- Adjusted EBITDA from continuing and discontinued operations of $5.2 million
- $254.3 million in operating cash
- $713.2 million in customer equity
- 178,273 active retail FX accounts
- Regulatory capital surplus of $85.1 million
For a full in-depth look at FXCM's financials, recent press releases, monthly customer trading metrics and SEC filings, please visit our Investor Relations page: http://bit.ly/ZOCB0Y
- #11
- Last Post: Edited 11:03pm Mar 17, 2016 10:49pm | Edited 11:03pm
- Joined Mar 2011 | Status: I should be on your ignore list | 5,597 Posts