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The US disables the FXCM broker.

mlawson71
Mar 17 2017 at 11:53
1487 posts
The UK branch wasn’t affected from a regulatory point of view, as far as I know, but the scandal in the States definitely had an economic effect. FXCM Group, which now contains all FXCM subsidiaries, except the US, has reported a decline in its February retail and institutional customer trading metrics. (https://www.forexbrokerz.com/news/FXCM-Group-reports-declining-February-metrics )
 
According to the document, the customer trading volume in February amounted to $201 billion. This is 21% lower than January 2017 and 33% lower than February 2016. The more detailed information shows that in January 2017 the trading volume was $253 billion, while in February 2016 it was $299 billion, again excluding the US subsidiary.

fightforex (fightforex)
Mar 19 2017 at 08:07
11 posts
This is all a big surprise. I was trading with FXCM for very long and never doubted they were a scam. Scary ... now that Forex.com bought the account from them, not sure what is hiding behind the scenes there. Gain Capital i think is the parent company. Any news about them?

Trade with courage but without emotions
jasonrogers (jasonrogers)
Mar 22 2017 at 07:45
272 posts
grtrader posted:
Interesting. I wonder if fxcm uk is affected. They seem to be still running as normal.


Hi grtrader,

While FXCM has withdrawn from business in the US, there are no changes to traders doing business with FXCM companies outside the US. With the exit, FXCM will be in a better position to service our international customers and focus on our profitable subsidiaries.

Jason

jasonrogers (jasonrogers)
Mar 22 2017 at 07:45
272 posts
mlawson71 posted:
According to the document, the customer trading volume in February amounted to $201 billion. This is 21% lower than January 2017 and 33% lower than February 2016. The more detailed information shows that in January 2017 the trading volume was $253 billion, while in February 2016 it was $299 billion, again excluding the US subsidiary.


Hi mlawson,

You will notice that most trading volume at most brokers was down in February and FXCM was no exception. Trading volume tends to follow market volatility, and the forex market in February was generally low volatility.

Jason

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