de | cn | ru

Brokers News

The Forex Customer Support Challenge: FXCM

Today's star in the customer support challenge is one of the largest brokers online – FXCM. What I need you to know is that I use the term “star” very loosely here. 

So far I have noticed that the bigger the broker, the worse and less personal the customer support. Of course, this makes sense: small brokerages have less customers, they usually also have tiny customer support teams that are easy to oversee, and they have more to lose – therefore their customer care teams simply care more.  
Giants like FXCM, on the other hand, probably get gazillions of live chat requests every minute so they have less of an opportunity to really connect with each and every client. I have considered that when rating mu chat with FXCM but I have done so with the disappointment of someone who really expected more. 
You are now chatting with 'FXCM - Greg'
FXCM - Greg: Welcome to FXCM's Live Chat Support.  Please give me a moment to review your first question.

Hannah: Hi, I want to start trading forex but I have no clue where to start - can you maybe help me with that?

FXCM - GregHello Hannah
FXCM - GregI can help you with that
FXCM - Greg: have a look at this site
FXCM – Greg: [link to FXCM's DailyFX educational resources site]

Hannah: Is that a legit site? they're not gonna scam me, are they?
Hannah: Greg? Are you still here?

FXCM - Greg: Yes Iam still here
FXCM - Greg: this link I sent you is just for training resources it is our Research website

Hannah: Oh, ok
Hannah: I saw that it has quizzes, i really like quizzes. Are there any prizes?

FXCM - Greg: sorry to say there are not at the moment any prizes or contests
FXCM - Greg: have you opened a demo account already?

Hannah: No, not yet. Sshould i go ahead and do it?

FXCM - Greg: it is the best way to get to know the platform
FXCM - Greg: what is your email address I will send you a demo account login

Hannah: No worries, I'll download it.
Hannah: I have a question about the platform though: it's metatrader 4, right?

FXCM - Greg: there is meta trader 4 and our tradingstation 2 platform
FXCM - Greg: do you have experience with MT4?

Hannah: No... it's stupid but... both 2 and 4 are very unlucky numbers for me and I'm afraid that trading with platforms which have a 2 or 4 in their name will cause me to lose a lot of money on the markets. Do you think that's possible?

FXCM - Greg: We will not be able to do that

Hannah: So no way to rename, huh... bummer.
Hannah: If i deposit $1,000, how many trades can i do with this money? I want to trade gold. 

FXCM - Greg: why dont you concentrate on learning about trading from the link I posted and when you have done that come back on and we will discuss opening an account for you and the details surrounding your trading
FXCM - Greg: I hope to hear from you soon Hannah
FXCM - Greg: Looking for ways to identify potential trades or support/resistance levels? The Trading Signals and Technical Analyzer provide trade ideas based on real-time technical analysis. Live account holders can use their account login and password to get free, unlimited access to DailyFX PLUS. Visit the site below to learn more.

Chat session has been terminated by the site operator.

The Sentence

Response time:
Accuracy of the answers:
Personal attitude:
Sense of humor:
Overall score: 8/25
Overall impression: I was not impressed. At all. Greg's was super slow answering, and I even had to ask him if he was still there – that's how long it took him to reply. His general attitude made me think he really hates his job, which I can understand (imagine talking to people all day long, answering stupid questions like the ones I did) – but I don't excuse him.  
His “why dont you concentrate on learning before you set an account” was plain condescending and I did not appreciate it. Maybe he was trying to keep me from making a deposit and losing all my money before I figure out the whole trading thing but a bit more careful phrasing could have helped him convey that. 
Sorry, Greg, but you don't get my stamp of approval.


TAGS: forex broker  customer service  customer service challenge  best customer support 

More news about FXCM

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website

More Forex Brokers News

Major broker IG launched its US website

Jan 31 2019 13:15:37

  Global brokerage IG launched its website intended for US retail clients ( Residents of the US (with the exception of those in Arizona or Ohio) can now register on the broker’s website in less than 5 minutes and start trading. Read more announced important updates to its Web Trading platform

Jan 25 2019 15:13:43

  Major forex brokerage  proudly announced important updates of its in-house Web Trading platform, which will take your trading experience to the next level.   Accessible from all browsers and operating systems, Web Trading was launched in 2017. Read more

HotForex parent gets licensed by UK’s FCA

Jan 21 2019 12:31:59

  Less than a month after HotForex acquired license to operate in the UAE, the trading services provider gets an authorization by the Financial Conduct Authority of the UK. The UK subsidiary of the HF Markets Group, HF Markets (UK) Ltd. Read more

Rakuten Securities offers HK$700 prepaid cards as a welcome gift

Jan 18 2019 10:26:57

  Hong Kong forex broker Rakuten Securities offers up to HK$700 Spending Limit Prepaid Card as a welcome gift to new account registrants. Here are all the details you need to know about the company’s promotional offer, which is valid from now until the end of March 2019. Read more

XM applies for a forex dealer license in the US

Jan 11 2019 13:39:14

  The US subsidiary of major forex brokerage XM has applied for a membership with the National Futures Association (NFA). This became clear from a filing by the broker’s US entity Markets Inc. (previously Trading Point US Inc.) with the NFA dated January 3, 2019. Read more

HotForex acquired DFSA license, commences operations in the UAE

Jan 08 2019 10:45:37

  HotForex is now licensed by the Dubai Financial Services Authority (DFSA) and announced it commences operations in the United Arab Emirates (UAE). The Dubai arm of the HF Markets Group, HF Markets (DIFC) Ltd., acquired the DFSA license in December last year. Read more

CySEC warns Efexa1000 is not licensed

Oct 22 2018 12:55:06

  The Cyprus Securities and Exchange Commission (‘CySEC’) officially warned investors that Efexa1000 is not authorized to provide investment services in the country. Read more

IG Group gets licensed in the USA

Oct 16 2018 13:48:15

  Major forex broker IG Group (IG) got a green light from the National Futures Association (NFA) to operate on the US retail forex market. The US arm of IG Group, IG US LLC, has just been approved as a NFA member and is officially registered as a Retail Foreign Exchange Dealer (RFED). Read more

ASIC adds HBC broker to its warning list

Oct 09 2018 11:14:03

  The Australian Securities and Investment Commission (ASIC) has updated its list of “businesses to be wary of” with HBC Broker – an unregulated company that is trying to confound its potential clients by giving out some correct details of leading forex and CFD ... Read more

FBS wins ‘Best Copy Trading Application Global-2018’ award

Oct 05 2018 16:22:13

The prestigious “Best Copy Trade Application 2018 Global” award went to FSB  for their innovative CopyTrade platform. Read more

de | cn | ru