FXCMForex Capital Markets LLC

Jim, FPA, 11/22/2009 ,

I have 125 live trades with FXCM and IBFX. FXCM quickly executes the orders for a few pips commission and the industry quickly executes you. Forex is a corrupt manipulated unregulated industry of people controlling and living off your money, including all the "trader" liars selling robots and other crap.

Lee, forexpeacearmy.com, 11/22/2009 ,

I just closed my fxcm account because they are a bunch of crooks. If you have multiple positions open the platform will give u hell to close out your profitable positions. They tell u plainly however yhat your interest in trading is at odds with theirs, which means to me, " you are trying to make money, we are trying to take your money." Not a penny more of mine!

JT, goforex.net, 11/22/2009 ,

I had a 30K account with them and was happy for several months until they moved all their Metatrader 4 to the UK and forced me to go to the BostonTech Bridged MT4. From there it went downhill and BostonTech is buggy as heck, and I would have to call them every other day to complain about trades that either didn\'t close in time (1 trade was 9 minutes late after hitting T/P) or they would give me a situation that was beyond their control. I had a trade that I had T/P at 30 pips, and it never closed on the EUR/USD, and two minutes later it was up about 70pips, and I tried manually closing it, and simply wouldn\'t close. The trade then automatically closed me with only 18pips!! I was outraged, and called them and they compensated me about 45 pips in return. Their services are good, but I suggest you to avoid their MT4 with Bostontech if you are doing high volumn until they fix all their problems.

8fingers, forexfactory.com, 11/01/2009 ,

So far, 3 uneventful (no problems with platform or feed) trading weeks gone by. I have not experienced any platform "freezing" at anytime,so far. I actually saw GBP/USD at a negative spread twice. I did notice some Posters have opinions about how I should trade or record experiences. Maybe they should contact JasonRogers and request their own test? This isnt a science experiment using Imperical data. This is ex-client testing their CURRENT Micro account trading environment to compare with past environment. My past experience was not good. No serious complaints with current Micro environment so far

Doug West, FPA, 09/27/2009 ,

ECN broker through BT bridge. Often serious slippage, delayed trades, system outages.

Worst performing broker for EA's that I've experienced.

Closing account and moving elsewhere

forextradingpal.com, 09/27/2009 ,

So what's up then with the criticism on FXCM's execution in some other reviews?

Actually, the only time that execution can be slow at FXCM is during news events (i.e. just before or just after an important financial announcement). One should, however, not blame the broker for the reduced execution speeds during such events because it is a natural thing that will occur at any broker. The reason for this is that the market becomes extremely volatile around major announcements and a huge number of orders is placed in a very short period of time since a lot of traders out there like to trade on news. This results in possible slippage since your orders cannot always be filled as you planned under conditions of extreme volatility. As said, this can hardly be called a FXCM problem and it is more a general market issue. We would like to stress the fact there are much more strategies available then news trading so a good option could be to avoid news trading altogether (also because it is very risky).

FXCM Scalped, FPA, 09/10/2009 ,

I deposited $5K with the intent to use them. They seemed very customer service oriented. However they made many mistakes in opening my account. So I decided not to use them and requested my money returned.
They responded after one week that the money could take up to 30 days. It was considered a bounceback due to the inactivity in my account.
Please provide suggestions to force them to return faster.

John, Forexrealm.com, 09/06/2009 ,

Here's a professional reasoning. Try taking it down, see if you can.

1. If FXCM is a scam, why don't you file a complaint with NFA?
2. If FXCM scam so many times, what on earth is the NFA doing listing them?
3. If FXCM scam, why so many people use them?

Ric, forexrealm.com, 08/25/2009 ,

FXCM a scam broker? that's just plain stupid, and people who have lost money through no ones fault but their own are the most bitter folk you are ever likely to meet.

If you want to know about this company go and talk to them, I've found them to be very professional, open and informative. I have been invited to their offices in Paris (I live in France), offered free seminars with guest speakers, if your a newbie their online starter course is incredible value with tutor back-up 24hrs a day.

Joe Benson, FPA, 08/25/2009 ,

I opened an fxcm micro account and I made good money for nine consecutive days. I then decided to trade on busy Friday after release of jobs data. Big Mistake! My trades were locked consistently at large losses. They finally closed me out with a huge loss of $1400 when a margin call was issued although there was still money in the account. The pound traded down to 166.50
for about 4 seconds and recovered to 166.90 in less than 1 minute
after they had cleaned out my account. This is their favorite method of stealing money from your account. Beware! Do not trade large positions or on very busy days when they have an excuse to lock your trades and issue margin calls. They will ROB you and take your money!

Neil, forexrealm.com, 08/25/2009 ,

Here's reality. FXCM's trading platform's are not the best. They mess up. However using the stop loss and profit limit will get you what money you want and give you some security. I agree that the programs need to be better but FXCM seem to be working on updates and in the last three months I have noticed that it is getting better.

FXCM is definitely not a scam. I have received over $250,000 in many transactions and the longest I have had to wait for it is 4 days.

Armond, FPA, 08/25/2009 ,

I read some of these reviews and wonder!!! some people are upset about 5 or 10 pip slippage, how about 72 pip slippage, yes my stop limit was not executed. So I lost about $800 in one trade(100k) standard order. called them and they say there is nothing they can do case it closed. So is my account I am going somewhere else.

Nas, Forexrealm.com, 08/25/2009 ,

fxcm.com is a frigging scam. Especially for scalper... forget scalping if you intend to use fxcm.com. Yes, it's good if you stay in your trade for a week or so b/c you won't feel the "slippage" of 10 pips or so... Oh, when you complain them about it they'll blame it on your bad Internet connection.... this slippage is NEVER ever in your favor. It's always in their favor... they will enter you in trade 2 to 3 pips against your trade and when you come out they will again take out 2 to three pips... so forget about 1 to 2 pips spread that they advertise... it's actually never below 6 to 8 pips and I'm talking EUR/USD... if you trade some odd pairs then forget about it... it's redonkyless... time to find new broker... bye bye FXCM.com

tidra650, FPA, 08/25/2009 ,

This is one of the worst Broker that I have ever experience. I was using the MT 4 platform, and I just close my account. They have slippage (surprise surprise), unexecuted trade, no connection problem, and RUDE customer service.

FXCM Micro, Forexrealm.com, 08/25/2009 ,

I deposited 100 dollars to test with this fxcm. I have experience trading the forex for almost 15 yrs. I tested their platform and it worked good. I turned 100 dollars into 994 dollars in 4 hours.
Next day when i traded, it just started to drop and drop and drop more. Margin calls were hit, spikes out of nowhere. I used my other broker and it was going 4-3-8-10 pips with fxcm it was 20-30-10-4-2-40 pips at once.
Beware traders from this broker.

Thomas Paul, FPA, 08/25/2009 ,

I have been demo trading forex for 8 month, and live trading for 5-6 months. I have used 4 brokers FXDD, IBFX, GFT and recently FXCM Liquidity feed UK based. I have a very important announcement regarding SERIOUS issues with FXCM last Friday 31st. I experienced the WORST execution possible of the like i have NEVER seen, and I have potentially lost $1300 due to having NO CONTROL WHATSOEVER of my trades for seceral hours.

I have asked for my balance to be restored at breakeven level, and I still have not had a satisfactory response.

RJD, Forexrealm.com, 08/25/2009 ,

I've been trading with FXCM for about two months now. They have been very good with answering my questions. Trades executed well with no noticeable slippage. Their response to executing withdrawls has been great, I recieve my checks within a week or so by mail. I generally don\'t use market orders but limit orders to enter a trade so my trading techniques differ from most of the posts here. The spreads are acceptable considering the cost per round-turn on commisioned based trading. Most of the people posting here are just venting their emotions. Some trade planning in advance may prove helpful especially on when to enter a market.

PipStar, forexfactory.com, 08/01/2009 ,

The NO Requotes claim by FXCM is just a sham.

When the market is moving fast you get NO Requotes but also NO FILL !!!

Nong, forexfactory, 08/01/2009 ,

After a month of trading with fxcm mt4, I have to give up.

Too much and too many slippage. Order excution time vary from 1 to 15 seconds. When my order took 8 seconds to filled, I called fxcm support and I was told that it is normal for fxcm mt4 to fill order within 10 seconds!!!

The staff there also explained to me that bt mt4 works like a bridge to their trade station. so under mt4, order from mt4 --> trade station --> market --> trade station --> report back to mt4, so there is an extra time for a round trip between mt4 and trade station (in trade station, order goes directly to market). I felt like a second class client by using mt4

So with 10 seconds order excution is acceptable under mt4, I decided to give up.

R.Roberts, forexpeacearmy.com, 08/01/2009 ,

I have traded for about 6 months with fxcm on their micro account and have been very satisfied. I know their history was very tarnished in the past but with the new change in managment a while back they really are an excellent place to trade. I generally have no problems and their response is excellent.

Currently I am having an EA written through the service they provide. Brian Hineman has been great to work with and when I found a few flaws he was quick in response and eager to find resolution. I would highly recommend their EA programming services to anyone. Thanks Brian for all your help recently, your efforts and professionalism instills a great deal of confindence

J. Rogers, forexfactory.com, 08/01/2009 ,

If you want to scalp, then the active trader platform is ideal for scalpers. You're paying a commission instead of a spread mark-up on each currency pair, and you also have access to level II type market depth to see the amount of liquidity being offered by the banks.

FXCM rewards high volume traders through the active trader platform since we're making money based on trading volume, and scalpers are generally higher volume traders. FIX api for is available for active trader as well.

Anon, forexpeacearmy.com, 08/01/2009 ,

These guys slip you like crazy, and their MT4 paltform is buggy, so buggy that the price moves past your stop and it still doesn't stop it out for a few minutes - and this is during non news time.

During news, good luck, my stop wasn't guaranteed and was filled at the worst possible price.

Other times, your closing price on MT4 is not guaranteed, as it actually checks the price on their FXCM platform, so what you see, is not what you get!!!

This is an example of a failed MT4 implementation.

JT, FPArmy, 08/01/2009 ,

I had a 30K account with them and was happy for several months until they moved all their Metatrader 4 to the UK and forced me to go to the BostonTech Bridged MT4. From there it went downhill and BostonTech is buggy as heck, and I would have to call them every other day to complain about trades that either didn't close in time (1 trade was 9 minutes late after hitting T/P) or they would give me a situation that was beyond their control. I had a trade that I had T/P at 30 pips, and it never closed on the EUR/USD, and two minutes later it was up about 70pips, and I tried manually closing it, and simply wouldn't close. The trade then automatically closed me with only 18pips!! I was outraged, and called them and they compensated me about 45 pips in return.

Their services are good, but I suggest you to avoid their MT4 with Bostontech if you are doing high volumn until they fix all their problems.

Oriana, FPA, 08/01/2009 ,

FXCM is in free fall.

They lost service of news of ThomsomReuters and placed the free one that can be obtained in any place of Internet.

Bad symptom that can show serious problems.

Great loss of quality to the detriment of the clients.

A serious company must not take benefits from clients. Maybe could not pay a news service.

Get out of there

NGSon, forexfactory.com, 08/01/2009 ,

I went live with fxcm uk for two weeks. I like:

-order opening is good, just opened at market price, no requote
-customer service is good

But there are few things I am very surprised. I traded with fxcm using their trade station II two years ago, order opening and closing were very good, order with tp level set got executed at that exact tp price. now I am using mt4, very rarely I got my tp price, sometimes I got more than tp price sometimes I got less.

Hippie, forexpeacearmy.com, 08/01/2009 ,

Their micro account is terrible. I am not allow to use limit orders between the bid and ask or anywhere close to the current price.

I am learning to trade with their $25 micro promotion. I am doing fine with it. They're preventing my use of legitimate limit order near the current price convinced not to open a regular account with them or add my own funds to the micro account

JT, Goforex.net, 08/01/2009 ,

Losing money start moving me to NDD. Suspect lot of SL Hunting activities. Spreads for USD/GBP, USD/NZD are very high.

Cobra, forexfactory.com, 08/01/2009 ,

I have been testing FXCM Mt4 demo for almost a month and i cannot complain. It seems as if broker bitching will never die. When you lose money the broker gets flamed and all sorts of excuses and broker mishaps are thrown at the broker. But when you win some trades you seem to be happy.

My opinion: If you do not know the market and you do not know how brokers operate, then stop complaining and start learning about these things.

Waltec, Goforex.net, 08/01/2009 ,

Wide spreads, always pricing away 2-3 pips more expensive than other brokers. Lets not forget this is the daughter of the late Refco !

The company that got more than 300 regulatory actions from NFA & CFTC.

Fr.Manner, FPA, 08/01/2009 ,

I am a professional trader, I lost money with this FXCM-Boston Technologies not because I don’t know how to trade, and they just offer no fair game to trade. Dealing Desk Brokers don’t even do things they are doing. And about the fills, don’t even mention that,

THEY ARE THE WORST EVER SEEN, the worst dealing desk broker would offer much better fills than them. I have the proof by the way.

Alex Solo, forexpeacearmy.com, 08/01/2009 ,

I opened a "Forex System Selector" account with an initial deposit of $2500. I selected their best system and within a month the account was depleted.

Client beware.

jshear, 08/01/2009 ,

I have been using the Boston bridge to FXCM for scalping for months and I would say its the best solution I have found!!
I have been trading Forex for over 4 years have tried MM brokers,ECN etc.. by far Boston Bridge gives me the best solution to trade the market.
Execution is excellent within split second and fills are great!! I would say try it you will love it!! Months of testing for me is all the proof I need to tell you all!!

IT'S GREAT!!!

benson, forexpeacearmy, 08/01/2009 ,

open a micro account with $200.Made over $2000 in 2 weeks. Then they started closing my trade with margin calls. Eventually my account was wiped out. Be careful with this company.

b koori, forexfxctory.com, 08/01/2009 ,

Well, I already opened an account with FXCM using their MT4 platform through Boston Technologies.

The hard fact is that I would consider it the worst of the worst I ve ever tested & tried in my forex trading experience. The problems started just a week after fine & smooth trading with them. Problems I encountered were from system freezing while trading and when I am in a trade, deleting stop loses, and deleting pending orders.

ForexXPP, goforex.net, 08/01/2009 ,

No Dealing Desk?? sometimes possibly. Have had an account for a few years with FXCM. last six months have traded Asian session a couple times and after entering the market watched the spread to go up to 10 or more on the GBP/USD. Recently, had a spread of 8 but was in 10 pips of profit (standard account) set a stop at break even and stepped away for about 2 min. came back and was closed out @ -15 pips. MY charts showed no more then 1 pip movement (dialed it down to a 1 min chart). Their excuse was that the stop order was hit and the order slipped 15 pips due to low liquidity at that time of day. (11:00PM ET) Again... No Dealing Desk? mmmmmm.

Lars K, forexpeacearmy.com, 08/01/2009 ,

They have live interactive webinars every day and if you did not caugth it one day you can just go to the archives an watch the recordings.
You now also have the oppurtunity to correspond directly with their instructors.
I could go on and on. The aparatus is huge with a lot of opportunities. You get what they say you get. And the the new Trading Station II works very fine. Just a couple of bugs since I joined them in February 2009, but it has never affected my trading.

Highly reccomendable.

Cabot, FPA, 08/01/2009 ,

This is not a terrible broker, but I think I expected more from them especially as they charge a commission.

I found it ridiculous that GBP/CAD could widen as much as 80-100 pips. Nice that there was possibility to move to their UK office to hedge. I have not given up hope on them yet, but I have also opened a live account with a Swiss broker that so far has proved to have far tighter spreads where FXCM would quickly widen.