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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Overall
I you like 50/80 pips slippage on EURUSD with the excuse that "there was not enough liquidity" (seriously, they told me not enough liquidity on EURUSD...), this broker is for you. Happened to me a good number of times, not just once or twice.
The TradingStation is quite good, but very unstable. Often you'll get a bugged out candle with a 900 pip wick, so if you use kumo it messes it up.
Contrary to what was said earlier, I have bad experience with their customer service. Always making excuses regarding slippage, and even about stop loss that was hit while price action was 10 pips away from the stop (happened twice, and I checked price action on other brokers too to be sure).
Their real strength is DailyFX, but really you'd better run away from them.
Overall
My experiance exactly also on the FOMC today! Realy a problem and exasperating when you are in a trade!!
Overall
I have my account with FXCM for 4years and am unable to comment on their services. Never had problems with withdrawals, customer service was always excellent giving almost immediate responses, but ........... for about 6 to 10 months I started to notice that the trading platform station and marketskope charts did not work well. Corresponding claims but I always have an answer for everything. In conclusion I can tell you that on July 5 this year, due to the inefficiency of the trading platform, I lost twenty one thousand dollars. The FXCM trading station run not all market entry orders that had been placed to cover for an operation that had a floating loss, I clarified that all orders, 10 in total, were placed at the same price and only input executed 6. Finally everything ended with the dreaded margin call and closing of all open positions.
FXCM Ask them to review the situation but again and as always, blame the trader and another thing ........
Overall
I decided to open an account last month with FXCM when XM Real Server 1 went offline for an hour. Honestly, what really attract me was the education service in dailyfx. Being able to learn from those who really know their stuff like Jamie, Ilya, Chris and the rest was a priviledge to me and All Praises to GOD my performance is meeting target so far.
As far as the Platform is concerned, there was only once instance when I received invalid prices. I like their trade station too on top of the regular MT4 because there was this price overlay function.
Their pricing is not among the best but I understand that bit higher of a spread is very well compensated with the free dailyfx premium services. I am not aware of any other brokers that have a superb education support like fxcm. That what I like best about them.
Overall
I use FXCM. Love their Tradestation II platform. Customer service is great, always a quick response and resolution. Only problem I have noticed - occasional slippage during fast moving periods. This doesn't happen all the time, only during big news releases NFP etc. Some slippage is to be expected, but on the odd occasion it can be downright ridiculous. I don't trade the news so I generally don't notice any real slippage problems on a day to day basis (i.e I had a 18 pip slip on a stop order on AUD/JPY Monday)
Overall, I really like FXCM. They work for my trading style, but I probably wouldn't use them for scalping.
Overall
FXCM probably has the best website from all brokers for help/info/training/market analysis etc; - lets face it all brokers have their problems - these guys do have slippage & requotes mainly in fast moving markets the same as other brokers. General rule of thumb is pay higher spreads for instant execution (like Forex.com) - it is very difficult or impossible to get the best of both worlds this is how brokers get that little bit extra out of you.
Beware 10pm (GMT) on FXCM!! They do their swap from one trading day to the next and the spreads go through the roof!! I'm talking about 5 - 10 times normal spread for about 5 minutes. If you've got tight stops it'll take you out!!
Overall
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.
Overall
I traded with these guys for about 5 years. During the time i traded with them I only experienced a problem when I switched to an MT 4 account. The trade station II and the new and much improved market scope charts is the best way to trade with this broker. In my experience not a bad broker....I do currently trade with Oanda due to the smaller pip spread on the eurusd pair. The one thing I do miss about trading with fxcm is the ability to trade in or around news time without the spread widening much.
Overall
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!
Overall
As many others have said thair customer service is just excellent, fund transfer is usually fast. I also loved the platform, execution speed was alright. All in all they're a good broker, but you can find better if you look around little.
Overall
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.
Overall
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.
Overall
its just funny... with their competition/contest
now I may prove via myfxbook how good are they :)
you may say on every trade in the contest how "no slippage" - on every trade look at the comment field. that is the price requested!
and these are *only* on entries, in the expert's log are the slippages on close
just can't believe that
funniest broker on the world! (but stay on demo only pls...)
Overall
fxcm trading station II forget about mt4... the best way to trade with fxcm is through tsII... that's for real.
Overall
GOOD BROKER 😎
Overall
FXCM MT4 impelmentation is not good, with this BT bridge. a lot of out of Sync that can conduct to very very bad effect on large volatile period.
For the rest the broker is good, good support. fees to put and get money back is OK.
Overall
About these referal programms offered by allmost all brokers...is this a good thing because now you can earn money not only by trading Forex but allso by refering traders to these brokers?😎
Overall
FXCM Metatrader is a joke. Off quotes- old ticks- Unhonored TakeProfits and Stoploss. Servers failed
FXCM UK MICRO 2009 - Server issues a few times, but their spreads and platform were far better than most brokers. However, all good things have to come to an end. They changed their Raw ECN data feed in the beginning of 2010 to STD account Spreads. which are 2.4 pips on EURUSD. I stopped using their proprietary trading platform after the spread increase and tried out their MetaTrader version and I was honestly shocked at all the issues that I had. I wouldn't even give them 1 star out of 10.
And after hearing about the Active trader Price delay/slippage, and how FXCM responded to the ordeal put a sour taste in my mouth. Also Currensee.com started to promote FXCM all over their website, and now FXCM offers a referral system.. haha.. truly going down in the history books as a big rip off artist.
Overall
I use demo and very impressed. High quality and quick service.
Overall
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.
