FXCM
* FXCM UK offers tax exempt spread betting accounts exclusively to UK residents. Residents of other countries are NOT eligible. Spread betting is
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FXCM
Overall
This is mostly for US traders as we seem to have sooo few options thanks to wonderful regulations by govt. FXCM seems to get beat up quite frequently. Maybe it's fair? I hear on blogs that they are "broke" & will file bankruptcy soon but aren't they the biggest in FX? That doesn't mean it can't happen I just don't know. I certainly can't comment on other ppls' experience but I've been with FXCM for 4yrs now and have over 1500 trades with them. Their platform stability has improved substantially the last few yrs so I have had very few glitches & can't remember any freezing in the past year or 2. I spend upwards of 4hrs a day on it. I really like their charting as it offers many different looks & tools & like being able to trade from the charts. If someone has a better platform for charting, let me know, plz. I can only remember one or 2 occurrences of "slippage" in the past 50+ trades (one was quite a few pips, the other was negligible). I don't like that recently they have started charging $10 per month unless I keep $1500 in my acct. I could eliminate this by going with the dealing desk but who wants to do that & if I can't make $ on $500 why would I add another $1K. BTW, I just withdrew $100 yesterday and it is showing up in my bank today which is a plus. So, although I continue to look at other options, FXCM isn't so bad.
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I wish FXCM can introduce cTrader...
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Overall FXCM is ok, but I hate it how they fail to quote their CFDs sometimes.
Just now they stopped quoting GER30 for 34 minutes or so in the middle of the day while other brokers continued quoting it.
FXCM resumed quoting but instead of filling in the missing bars they just showed a gap, as a result I took a loss of 62 pips instead of closing it much earlier.
They stopped quoting at 48 minutes, and I opened the trade at 08 minutes next hour, the actual price was 50+ pips lower by then, but they quoted me at a price that was at 48 minutes, how it that possible?
The worst part is that it happens on a regular basis, not often, but it surely happens, especially after platform updates.
They need to work on their CFDs. Just when I thought that FXCM could be the one.
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So you mean FXCM do not charge losing trades, is it? ))
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between NY and AU session spread can unexpectedly be expanded in 10 times without any news!!! and will kill your profitable trade, I working with 2 brokers and only with FXCM I got this issue, so , I would recommend you to think at least twice before you will start to work. Spread working against your trade with this broker. From attached screenshot you can see how stop loss has been triggered on and the orders was filled with not the best available price on the market but just with some price proved by FXCM "NDD" ? I showing screenshots from MT4 - FXCM and another global broker I working with, probably you can also check tick history taken from ECN brokers.
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I am trading with FXCM for 6 months. I don't have any issues with them or FXCM trading station, which I prefer to MT4 platform. Other than that I would like to say, that I hope they manage to normalize their future and stay one of the best forex brokers.
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best broker
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Absolutely disgusting broker. Their MT4 hangs all the time during relatively active market. During news it is just dead!!! Today at FOMC time my MT4 hanged for 7 minutes!!!!!!! 7 minutes!!!! I closed and reopened it few times- it was dead!! After 7 min eventually it started working. Good thing, they have online web trading station, so I logged in quickly and close my deals though not at optimal moment. And if you usually use MT4, this station is not convenient at all, it is just for critical moments, at least to close deals... Also their spreads are high and they are very volatile, jump like crazy. I still have not closed my account because I have some good history and want to show it to potential investors.... I believe with other broker my results would be much more impressive
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They should have let this broker go out of business. Thanks Leucadia for bailing out the worst broker in the US.
I would trade coconuts rather than trade with this broker.
Horrible spreads, undesirable trading conditions.
No Thanks!
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Hi Jason,
i have been through the live chat a few times - to try find answer to this - and got no-where -
i am in a group that has people from all over the world on quite a number of different brokers - all using MT4 -
what is very noticeable right now is the massive price difference that I am seeing on my FXCM account - yet no other broker is showing this at all !
massive 2-300 pip candles - yet all other brokers have 60-70 pips,
what is your take on this ? most traders in our group are very experienced and suggest you guys are now dealing in house and chasing stops - to recover .....
two examples this week alone on one pair !
28-01-2015 - EURAUD 1900 GMT - 199 pip candle - not present on any other broker !
27-01-2015 - EURAUD 1330 GMT - 136 pip candle - not present on any other broker !
i have stopped trading live on my FXCM account until someone answers my question! or we see you in the news that the regulators have jumped on you !
can you explain this ? you seem to be the online face for FXCM ..
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I contacted twice by telephone, never answered my call.
But they responded to my email.
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was difficult to adapt to their platform.
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@Fox123 is there any particular reason you say that?
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I have account at FXCM but I do not recommend, better find another broker.
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I see a lot of mixed reviews here for FXCM. I don't know about how they were like before today. However, I feel they are the best by far that I have used and the lowest spreads I've ever seen. They recently started a new fee schedule but it's negligible overall and still way cheap either way you slice it against other brokers. Also, the simplest and most straightforward forex-only platform in my opinion. Customer Service is Excellent!
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This broker has helped me to earn money with my strategy.
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The broker has good customer service (fast response), fairly good deposit methods, but is horrible for withdrawals. If you don't live on US or have big bucks (10,000 or more), it is very expensive to withdraw.
The only two methods are credit card (limited amount), and wire transfer (expensive!)
Also, I had a problem with them. I placed two orders on different pairs, at some point the trades were closed... not with stop, not with take profits... they couldn't tell me why they were closed (they were closed on profit), and when I talked to them about the problem, the decided unilaterally to "reopen the trades" just at the same price they were closed. I didn't asked that, I only asked why they were closed.
Finally I closed the trades again with a little less profit, and I tryied to withdraw my funds (only 116 usd)... with the surprise that I can only withdraw 50 usd using my CC (the same I used to fund my account), the rest I must use wire transfer (with 35USD fee or more)
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Is anyone trading the indices with FXCM? especially German DAX ? Need some feedback from live trading...
I'm trading only on the demo acc, and sometimes is there huge difference between live and demo trading.
So, if is somebody trading DAX30, pls let me know, or write here some info :) THANKS.
Overall
I have been trading actively with FXCM for the past 4 months although I have been on & of with this broker since 1999. Spreads are awesome on the AUD/NZD, AUD/USD & NZD/USD. Swaps are very fair. Slippage is minimal now that I use Beeksfx which has its VPS location at Equinix NY data center where FXCM hosts its MT4 servers.
The customer support is unprecedented as they will attend to any problem regardless how small it is & they will see that it is resolved
I am about to increase my level of investment with this broker as I know my funds are safe with the largest FX Broker on the planet.
I only hope that they will drop the spread on the Eur/USD.
Overall I rate this broker as 8 out of 10
Overall
I opened an active trader account by this broker. I agreed for an account with commissions (and lower spreads). Costs were to be 60 USD for 1 Million USD traded. But my account is in EUR. They then decided that costs would be 60 EUR for 1 Million EUR traded. I agreed. I then noticed that costs were actually 60 EUR for 1 Million USD traded (I only trade GBP/USD). I complained. They then explained to me that costs would be 60 EUR per Million, it would not matter if it would be 1 Million EUR, 1 Million YEN, 1 Million EUR, AUD... and so on. I refused. They then offered that costs become 50 EUR per Million of XXX. I accepted. But they went on withdrawing 60 EUR per Million !!! I complained and claimed for reimoursement. They refused and explained that changing my tarification would require time, without precision. I fill totally laught and scammed, so I closed the account.
FXCM ARE SCAMMERS
