5 to 6 years ago i started FX trading with REFCO before they went bust. at the time, FXCM was REFCO's daughter company (if i remember correctly). it was a market maker, i.e. deal desk, i.e. bucket shop. i didn't know any of this at the time as i was green behind the ears. after REFCO i switched to FXCM until i realized what was going on. same problems as mentioned here: horrendous slippage, feed manipulation, spikes taking out stops and so on. at the time they didn't offer MT4, so all trades were entered with their TradeStation, which goes to show that MT4 is not the only piece of software that can be tweaked to scam retail traders.

but that's beside the point. the point is: from being a bucket shop FXCM suddenly sees the light and becomes an ECN with 'true' STP. and yet, we keep hearing all the same issues occurring again, and this more than 5 years later. now what does that tell you?

what i can't understand is why do people keep giving their business to them. it's unreal.

it just came to my attention that the NFA ruled against FXCM and fined them to the tune of USD 2,000,000. you can read all about it here:

http://www.forexpeacearmy.com/forex-forum/forex-articles/16467-fxcm-slipage-accountability-good-news-us.html

(forexpeacearmy.com, notwithstanding the cheesy name, is an excellent site for retail traders who want to learn how to trade, find out more about which brokers are scams and which are not, and so on)

and from the NFA site:

the case summary: http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0308179&case=11BCC00016&contrib=NFA

Great platform, i love it.
Still,
I do not think any of us would be happy to mess around with the FOS and NFA, hope they stopped cheating.

I have only been with them for 3 months and have only got good things to say....I usually trade during london session and more at the longer time frames so slippage etc is not a real issue to me. I prefer thier platform to the other 3 I have tried (including MT4) and have found thier knowledge and training very helpful!

I too am using FXCM, I find them knowledgable, friendly and extreemly helpful, What you really need. As for slipage and pricing ,I don't really know! Partly because I am new, and partly because I am too involved with my Entries and Exits to be bother, afteral it's a cost that we have to pay, if not to them to someone else, at least they take the money of you with charm and smile. Generally and so far I am happy.