FXCM Review Scores
FXCM
www.fxcm.com
Overall Score: 3.4 / 5
Total Votes: 308
Platform
 
 
Pricing
 
 
Customer Service
 
 
Features
 
 
1 - Worst   5 - Best
FXCM Discussion
Previous 1 2 3 4 5 .. 12 Next
ggjr61

Member Since Sep 27, 2009  2 posts Jerome (ggjr61) Sep 27 2009 at 15:01
Execllent customer service. Too many requotes - but that is mostly likely due to ECN model. Taking MT4 platform offline on Sundays is a little bit of a headache. But I think this is the best broker in the market.

compuforexpamm

Member Since Aug 20, 2009  229 posts kennyhubbard (compuforexpamm) Sep 27 2009 at 15:59 (edited Sep 27 2009 at 16:01 )
I have also used FXCM and have ditched them.........

I have to agree with Jerome, their customer service is first class. Had a guy phone me from their local branch and he managed to help me with any and all technical issues that I had. Deposit and withdrawal was accomplished without a hitch at an acceptable pace.

Unfortunately, technically they don't seem to have aced the transition to the Boston Tech liquidity bridge. Their trade execution was slow and this is no good for scalping. There are many requotes but this is also due to a technical deficiency where virtually any error was reflected as an 'off quotes' error.

I also have an issue with the way they are not honest about their spreads. They claim a typical spread of 2.4 pips on the EURGBP but when I charted their spreads over a 72 hours period, the average was clearly 3.3 pips. In fact there is such a clear line delineating the 3.3 pips area that you can see the price is manipulated(See attachment)

<a href=''><img src=''/></a>
Attachments:

Wealth Creation Through Technology
one_fx

Member Since Sep 11, 2009  4 posts One Capital Fellowship (one_fx) Nov 14 2009 at 07:52
I used this broker somewhere around last year, through a Malaysian IB, he tought me how to trade forex in, but it was CRAP. That was a different story. So here is about FXCM. The Customer service is very friendly and deposit/withdrawal is quite fast. But my problem is the slippage, which for example GBPJPY usually charge me around 5-6 pips, but sometimes it slips me up to 16 pips. How much left do i have to make a profit? My friend even suggest me not to use this broker and im glad Im out, especially under that IB who suggest to trade over leverage.

tbuitendyk

Member Since Dec 31, 2009  141 posts T. Buitendyk (tbuitendyk) Mar 16 2010 at 06:33 (edited Mar 16 2010 at 06:52 )
...trying to remember the exact wording of that non-disclosure agreement, but the details escape me...

That being said... I think that I'm within my rights to say that I hate it when people lie to me -- 'all 12 of our liquidity providers were offline for 5 minutes after the NFP, blah, blah, blah...' 'You have a really good point sir!, I'll take it up with my manager, blah, blah, blah...'

Gear on the left...
pipdetector

Member Since Oct 28, 2009  78 posts pipdetector Mar 16 2010 at 12:19 (edited Mar 16 2010 at 12:19 )
I do not know about the way FXCM with Trading Station works, but FXCM + MT4 provides me with constant stream of surprises... Starting from spikes that obliterate my account for a day or two and ending on small positions disappearing without hitting SL/TP. Customer service is good, but I would prefer if I did not need to have to use it so often.

gerald325i

Member Since Aug 06, 2010  159 posts Gerald (gerald325i) Aug 27 2010 at 08:38
The dealing desk brokers are rude, I had an MT4 that closed trades and the server didn't and this guy gets mad at me and transfers my call talking to me like I'm his 5 year old kid...But that was just one guy, the rest of costumer service has been good so far. Spreads are terrible with GBPCHF shooting to 11 on Asian trade. If you're using Megadroid or any other EA trading the Asian market, take your business somewhere else...I'm about to do just that. If anyone can suggest a Broker, please PM me.

Take your profits while you can or the market will take them from you
pipdetector

Member Since Oct 28, 2009  78 posts pipdetector Aug 27 2010 at 09:04 (edited Aug 27 2010 at 09:05 )
What you just described is quite common with FXCM. I just cannot see why FXCM is charging 2.5-7 pips for EURUSD, but ATC that uses them as liquidity provider charges 0.7 pip + 0.8 pip commission... And they do not have this 'notorious' BT bridge that keeps stalling...

tumbleweed

Member Since Aug 31, 2010  21 posts tumbleweed Sep 15 2010 at 21:50
I don't know what happened to FXCM. They were a good FCM back in 2004, but after being away for a while, I opened up a new Boston Technology account with them. The account opening was somewhere from strange to smooth. One person would tell me I did not have an account with them and another would find the old account. Transferring from the old account to the new account took a few days. Now, trying to sign up for their free VPS has become an ordeal. After two weeks, I am about to ask them to send my money back.

Beginer22

Member Since Oct 11, 2010  1 posts Beginer22 Oct 11 2010 at 02:08
I use demo and very impressed. High quality and quick service.

pipdetector

Member Since Oct 28, 2009  78 posts pipdetector Oct 11 2010 at 06:34
If you are using FXCM via BT check autosync daily in your History tab.

Previous 1 2 3 4 5 .. 12 Next
Compare forex broker spreads in real time: Forex Broker Spreads
Consumer Spending Volume (1h 33min)
HIBOR rises; PBOC to inject liquidity vi...(10 min ago)
EURUSD 1.06137 GBPUSD 1.24141
USDJPY 113.082 USDCAD 1.30892
FxPro

Tools

Community

Reviews

Brokers

Platform

Support


Twitter |  Facebook |  Site Map  |  Terms  |   Privacy Policy
©2014 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.