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  • #10,101
  • Feb 21, 2017 9:48pm Feb 21, 2017 9:48pm
Hey jason, is gain going to take control of trading station, or will my trading station no longer be usable after the cross over?
  • #10,102
  • Feb 22, 2017 12:27am Feb 22, 2017 12:27am
Quoting USATrader007
Just for you.. virtual Jason: https://www.youtube.com/watch?v=IwMY-zjYEek
Great find!!
  • #10,103
  • Feb 22, 2017 5:09am Feb 22, 2017 5:09am
Quoting swingtrade65
The ENTIRE USA CANT WAIT TO GET RID OF THESE F***CKIN PARASITES LIKE JASON RODGERS AND THE WHOLE LOT OF FXCM CROOKS......HEY JASON....ARE YOU GUYS STILL TAKING POSITIONS AGAINST TRYING TO MILK THE LAST FEW PENNIES FROM YOUR USA CUSTOMERS YOU FREAKING COCKROACH HUMAN PIECE OF SH&T
I'm wondering, does all the US Forex Traders making losses due to FXCM or due to Market Movement?
Just saying..
There is no Guarantee Winner for the Game
  • #10,104
  • Feb 22, 2017 5:17am Feb 22, 2017 5:17am
Quoting midnight
{quote} Great find!!

Running 3 Platforms in 1 Terminal?? The system definitely will be heavily exhausted and cause latency.
It seems like FXCM price was facing latency, but if he hit the price on FXCM, he may get a big Slippage... due to delay price.

To me it can't proof anything except for delay price feed, unless he executed 3 trades at the same time and gett filled differently.

I'm trying to be objective
There is no Guarantee Winner for the Game
  • #10,105
  • Feb 22, 2017 8:44am Feb 22, 2017 8:44am
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  • #10,106
  • Edited 9:13am Feb 22, 2017 8:44am | Edited 9:13am
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  • #10,107
  • Edited 9:33am Feb 22, 2017 9:22am | Edited 9:33am
[FXCM Inc. said Tuesday it is changing its name to Global Brokerage Inc. and will trade under the new ticker symbol 'GLBR" effective start of trade Feb. 27. The company also unveiled its choice for interim CEO. The news comes after the Commodity Futures Trading Commission issued an order settling National Futures Association charges against FXCM Chief Executive Dror Niv and Managing Director William Adhout for "engaging in fraudulent activities" with respect to FXCM's retail customers, by telling them they used a "No Dealing Desk" order execution model, meaning orders would be executed directly in the market without using a liquidity provider, or market maker. But in fact, FXCM used a "Dealing Desk" model, by routing orders through market maker Effex Capital LLC that was actually supported and controlled by FXCM, allegedly in exchange for kickbacks to FXCM on profitable trades. There were several other charges in the NFA's complaint, but the gist was that FXCM, Adhout and Niv would be permanently barred from NFA membership, and FXCM could no longer operate in the U.S. FXCM agreed to pay a $7 million fine. On Tuesday, FXCM named Brendan Callan as interim CEO. Callan has been CEO of the company's European operations since 2010.


quote=Jason Rogers;9583350]{quote} Thanks for the vote of confidence, Angus. My colleagues and I appreciate having you as our client. As I have mentioned to others here previously, the nature of FXCM's settlement with the US regulators prohibits me from commenting on the specifics. That said, I want you to know we continue to stand by the quality of our trade execution in general and our No Dealing Desk (NDD) forex pricing in particular. I believe the experience of many of our satisfied traders reflects this BS: http://bit.ly/2egIus1[/quote]
  • #10,108
  • Feb 22, 2017 9:28am Feb 22, 2017 9:28am
Jason, Can you read after me:
"engaging in fraudulent activities" with respect to FXCM's retail customers, by telling them they used a "No Dealing Desk" order execution model, meaning orders would be executed directly in the market without using a liquidity provider, or market maker. But in fact, FXCM used a "Dealing Desk" model, by routing orders through market maker Effex Capital LLC that was actually supported and controlled by FXCM, allegedly in exchange for kickbacks to FXCM on profitable trades. There were several other charges in the NFA's complaint, but the gist was that FXCM, Adhout and Niv would be permanently barred from NFA membership, and FXCM could no longer operate in the U.S. FXCM agreed to pay a $7 million fine



Quoting Jason Rogers
{quote} Hi USATrader007, The video you saw is from 2010. As I explained back then, there was a technical issue caused by Adobe's release of a new version of Flash that wasn't compatible with Trading Station. We resolved the issue with a platform update and any trades that were negatively impacted were reviewed for our clients as is done with any tech issue: http://www.forexfactory.com/showthre...34#post5627134
  • #10,109
  • Feb 22, 2017 1:05pm Feb 22, 2017 1:05pm
Fellow Traders,

I've been gone from this site for a long while. I've been with FXCM for about a year trading part-time. I say I'm a part time trader of currencies because I trade stocks full time Monday thru Friday. I'm just here to post that after receiving the same email that every other account hold received I decided to request a withdraw of all funds. This was via there website at 23:45 hours on 2/14/2017. The funds were removed from my trading account on 2/16/2017 and all funds were fully deposited today (2/22/2017). As I was concerned that maybe FXCM might have a run on there bank and not be in a position to return my money I gave them a call on 2/15/2017. I spoke with an individual named Greg (Sorry I didn't get his last name, I'm sure Jason Rogers knows who I'm talking about). My issue was that I can transfer funds for trading immediately but it takes like a week to get the funds back. Greg attempted to explain the process but I was not in agreement with his explanation. At which time I told him "We will have to agree to disagree, Sir". Anyway I'm letting the account transfer to forex.com, but will probable just stick with stocks as I have made very little profits as compared to trading stocks in the forex market.

Jason Rogers and or Greg, do not take this post as a win for your company. I have had several issues with FXCM concerning your MT4 software and its execution of trades over the last year to include getting into trades and to ultimately trying to exit trades. And the fact that the Bid/Ask lines do not line up with the candles was also quite frustration.

Anyway thats my 2 cents on the this issue. I'll check back in another 5 years to see how things turned out.

CM
  • #10,110
  • Feb 22, 2017 2:21pm Feb 22, 2017 2:21pm
Forex.com & Oanda are next on the list...


It is unlikely that any retail traders will be able to successfully sue FXCM, because actual damage to their trading accounts as a result of market making or trading against customers would be extremely hard to prove, but certainly the authorities could continue to probe and continue to find reasons to go after the company and its executives for violating laws.



Even if no customer actually attempts litigation procedure, the reputational damage is enough to create a divestment on a global scale, hence when all of these factors are borne in mind, it looks like curtains ahead for one of the worlds largest and long-established brokerages.
  • #10,111
  • Feb 22, 2017 2:36pm Feb 22, 2017 2:36pm
Quoting USATrader007
Forex.com & Oanda are next on the list... It is unlikely that any retail traders will be able to successfully sue FXCM, because actual damage to their trading accounts as a result of market making or trading against customers would be extremely hard to prove, but certainly the authorities could continue to probe and continue to find reasons to go after the company and its executives for violating laws. Even if no customer actually attempts litigation procedure, the reputational damage is enough to create a divestment on a global scale, hence when...
If you take those 2 out; then the U.S. is done. No more regulated brokers here. If I'm wrong, someone correct me.
  • #10,112
  • Feb 22, 2017 2:49pm Feb 22, 2017 2:49pm
For you virtual Jason... letter I received from NFA



For Immediate Release
February 6, 2017
For more information contact:
Kristen Scaletta, 312-781-7860, [i][email protected][/i]
Karen Wuertz, 312-781-1335, [i][email protected][/i]
NFA bars New York retail foreign exchange dealer Forex Capital Markets, LLC and its principals Dror Niv, William Ahdout and Ornit Niv from membership
February 6, ChicagoNational Futures Association (NFA) has barred New York retail foreign exchange dealer Forex Capital Markets, LLC (FXCM) from membership. NFA also barred FXCM principals Dror Niv, William Ahdout, and Ornit Niv from membership and from acting as a principal of an NFA Member.
The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint issued by the BCC and a settlement offer submitted by FXCM, Dror Niv, Ahdout and Ornit Niv. The BCC found that FXCM, Dror Niv and Ahdout engaged in numerous deceptive and abusive execution activities that were designed to benefit FXCM, to the detriment of its customers. The BCC also found that FXCM and Dror Niv provided misleading information to NFA. Finally, as a result of a number of significant supervisory failures, the BCC found that FXCM, Dror Niv, Ahdout and Ornit Niv failed to adequately supervise the firm and its employees.
FXCM has had a long history of disciplinary actions involving, among other things, deceptive and abusive execution practices to benefit FXCM to the detriment of its customers. NFA's BCC has authorized four prior Complaints against FXCM. In 2011, FXCM was charged with engaging in asymmetrical price slippage practices and ordered to pay a $2 million monetary sanction and not engage in the types of deceptive and abusive practices detailed in NFA's 2017 Complaint. More information regarding FXCM's disciplinary record is available by using NFA's BASIC system, which is accessible through NFA's website.
The 2017 Decision will become effective on February 21, 2017, and FXCM will withdraw from NFA membership within 15 days of February 21, unless this 15 day period is extended by the BCC.
NFA thanks the Commodity Futures Trading Commission (CFTC) for its assistance
  • #10,113
  • Feb 22, 2017 2:58pm Feb 22, 2017 2:58pm
We don't need those 2 & 1 crook is already out...we'll be just fine.
Quoting nondisclosure00
{quote} If you take those 2 out; then the U.S. is done. No more regulated brokers here. If I'm wrong, someone correct me.
  • #10,114
  • Feb 22, 2017 6:40pm Feb 22, 2017 6:40pm
Quoting USATrader007
Forex.com & Oanda are next on the list... It is unlikely that any retail traders will be able to successfully sue FXCM, because actual damage to their trading accounts as a result of market making or trading against customers would be extremely hard to prove, but certainly the authorities could continue to probe and continue to find reasons to go after the company and its executives for violating laws. Even if no customer actually attempts litigation procedure, the reputational damage is enough to create a divestment on a global scale, hence when...
While the fine is something, a more meaningful justice would be to send FXCM's managers to jail. Those criminals deserve to be sent to a high security prison and be raped once for every dollar they stole from retail traders. That would be justice.
  • #10,115
  • Feb 23, 2017 12:14am Feb 23, 2017 12:14am
Hi,
I checked my statement today and saw a spike on rollover on HSG33 instrument. See attached file for more details. it contains the rollover charges for Feb of one position, on the last row, the charge went up from normal -0.09 to -7.97

Anyone has the same issue?
Thanks
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  • #10,116
  • Feb 23, 2017 5:22am Feb 23, 2017 5:22am
Quoting SeanSalsa
{quote} Running 3 Platforms in 1 Terminal?? The system definitely will be heavily exhausted and cause latency. It seems like FXCM price was facing latency, but if he hit the price on FXCM, he may get a big Slippage... due to delay price. To me it can't proof anything except for delay price feed, unless he executed 3 trades at the same time and gett filled differently. I'm trying to be objective
Why are you being objective? They were flat out caught by regulators. It's not some random trader making a claim. Of course, the broker isn't the reason people lose.However, if they are scrapping a pip or two here and there, it will definitely have a huge impact on anyone's bottom line over time, whether they are profitable or not.
  • #10,117
  • Feb 23, 2017 6:03am Feb 23, 2017 6:03am
Aw, man the posts on this forum are truly incredible. I've been with FXCM for over 14 years. 14!! HAVE I LOST MONEY....YES!!! And every time. EVERYTIME, it was because I didn't adhere to one of MY rules. Did FXCM do something wrong? Maybe? YES, I said, Maybe. But I would think they screwed the banks more than they did their clients. SOMEBODY has to take the other side. If it's not FXCM, who? Should they have done what they did? If there is a regulation against it, than probably not and hopefully they learned from it and hopefully those abroad will keep a close eye on them but I can not for one minute blame FXCM for my losses. Only fools do that. ONLY folks who want to blame someone else for the sake of blaming, do that.

'As for the regulators, I'm not stupid enough to buy into their wanting to protect me. They all have agendas and my job is to keep my distance. If I could sue anyone right now it would be CFTC for mishandling this situation from day one. Has anyone thought of the money we 'victims' are about to lose just in the learning curve of a new system? The time it takes to study all the videos and heartache and upheaval of recreating strategies to go along with another system? Yesterday, I chatted with someone at Forex.com and he basically told me that if I didn't like their 'stuff' I should just withdraw my funds. Well, I can't because they are frozen right now for the transfer but if he thinks I'm frustrated, just wait bozo for the onslaught of frustrations from those of us who didn't want to move our accounts in the first place. This won't be pretty.

14 YEARS OF HABIT WON'T BE EASILY REBUILT.
  • #10,118
  • Feb 23, 2017 6:45am Feb 23, 2017 6:45am
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  • #10,119
  • Feb 23, 2017 8:41am Feb 23, 2017 8:41am
Quoting USATrader007
{image}
lol. The funny thing is the people on here actually defending FXCM. A bad trader is a bad trader, and yes a bad trader will lose regardless of the broker. The point here is, even if you are profitable, their chesting affecting your bottom line. i.e. you would have been more profitable with a non- cheating broker, or if you are a net loser, you wouldn't have lost as much with a different broker. If you trade 2 standard lots per day and they are "only" stealing 2 pips per day from you, it's only about $12,000 per year. Now multiply tht by the number of clients and realize the fines are a tiny fraction of what they were getting away with. So, yes, they are crooks and absolutely, despite what the fact that they think we are ignorant enough to believe otherwise, THE CFTC IS IN NO WAY SHAPE OR FORM HELPING THE TRADER. They are simply after their own agenda of abolishing retail and moving everyone back to futures. It would be so much better if they just came out and were honest as opposed to taking us for a bunch of idiots.
  • #10,120
  • Feb 23, 2017 9:31am Feb 23, 2017 9:31am
Quoting RebeccaH
Aw, man the posts on this forum are truly incredible. I've been with FXCM for over 14 years. 14!! HAVE I LOST MONEY....YES!!! And every time. EVERYTIME, it was because I didn't adhere to one of MY rules. Did FXCM do something wrong? Maybe? YES, I said, Maybe. But I would think they screwed the banks more than they did their clients. SOMEBODY has to take the other side. If it's not FXCM, who? Should they have done what they did? If there is a regulation against it, than probably not and hopefully they learned from it and hopefully those abroad will...
Stay with FXCM for another 14 years. They urgently need clients like you who don't realize are being scammed.
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