An average forex broker.

Fulfills the basic needs for the average trader in me. But offers not much more compared to the run of the mill forex brokers. The only strong point with them is their strong marketing machinery, because it worked in making me open an account with them which otherwise I would not have done.

FXCM must probably be one of the most popular brokers around. However, their service is also the same as most of these brokers who only wants your money. It is hard to get out from trades particularly when the market is volatile. It is also hard to withdraw from them. I dont know if this is mainly because of high number of clients but the company still needs to provide good services to everyone if they want to continue to get clients.

I have been using the marketscope and once I switched to a UK account a started having all kind of issues. The most astonishing one is when on Sunday January 17 the market opened with a gap in the EUROGBP pair, nowhere to be found on the Marketscope on a 5 min chart.I was told by FXCM agent that the gap was filled by a red bar. Waow! I check other area where initially there were gaps, well they cannot be found on the Marketscope. Now can anyone tell me how a system fills a gap??? I always tought the market is made of and by participants and price actions - bid and ask- displayed on a chart. BTW their Meta Trader platform do show the gap just like any other brokers paltform and they want me to trust their Marketscope. Please!!! I do trade gaps and I know what they are

Some time ago I opened an account in FXCM. Sent all needed document scans. Wait one week, two
weeks. Account is still locked. I thought scans were lost and sent again using other email.
No reply. I wrote a question to online support. No reply. I wrote a request to info@fxcmmicro.
No reply. I wrote a request to admin@fxcmmicro. No reply. I repeat my letters from different
email service. No reply. I want to write a question to FXCM forum... but cannot register,
no confirmation.
It is more than 3 month _with no single reply_, only automatic advertisement and automatic
reminders to send a document scans for account unlock!
My opinion: It is extreme disrespect to clients. Moreover, now it is very easy to imagine
what problems can occur to all of you if you want to withdraw your funds. Company, considered
suitable this manner - do not reply to their clients - is very suspicious company.
Make your conclusion....

garbage software ... freezes ... timouts .,..they unfriendly ... shitty margin policy to close every position instead of just the loosing....very spikey

RATED SCAM casue they let me work as IB for them and cancelled the contract by the time i transfered a client who invested more than 10k

.. happy trading

i first chose them to trade&let me tell u they are no good! Their software was pretty shitty+ when it froze they would be like: ups, give it a minute! Got so mad with them…
I switched to ac-markets and this is a forex broker

AS of now I wont rate any other broker...any. Why?? Its because its too noisy in the trading world...literary and even virtually. Guys...Let me ask you a question? Who is responsible for your own safety? safety of your properties and all other things belonging to you which could sometimes mean so much to your life? Your safety is your responsibility...NOW...why you all blaming others about your own mistakes??? After all...you need to test waters before you dive in right? In this world...there are so many things you cant understand sometimes...SO...its you....its you....its you....its YOU..who is responsible. If you want to make profits....educate yourself....if you want to lose...just go ahead and trade without knowing what is really going on with those candles and wicks. :-)

Its better to take time than to whine.

It seems like on their Demo you can do well but when you go live you always loose. I don't recommend

I've been using FXCM for the past 2years. Good company, spreads widen more often but overall they respond fsast to your request. I would say their customer service is good atleast they speak english.

stopped using these guys early on - too much platform hang up - too much - "the problem is with YOUR connection"...I ran two other demos with different companies - their price would stay fluid and FXCM's would sit still...my connection???

I TRADE WITH THIS FIRM FROM LAST 2 YEARS . MY EXPERIENCE IS VERY VERY GOOD. FXCM IS REALLY GOOD
FIRM FOR FOREX TRADING.I ALLWAYS GOT VERY GOOD RESPONSE FROM THEM. KEEP IT UP. NICE

FXCM it is a nice broker. One of my friend is using its services and working well and managing its account.

Why does it take almost 10 days to request my OWN DAMN funds from my account??? I agree with the other people that they are shameless and are ruining their own reputation by taking so long to release the clients own money.

all people gave good rate for FXCM they are from tyhe same company, and this is funny see down there how many reviews in sequence , they are really shameless company and they don't care about stealing your money in front of your eyes and ready to give you a lot of reasons , big players , all what they are telling in their web site is lies and they did not commit to any of it see the wide spreads , see the execution when you start to make money, see the worst price they will give you when making a trade .

I don't get why there are complaints about this broker. Sure if you trade during news times there is no liquidity out there, so naturally fxcm won't fill you. Remember they are giving you 200-1 on your money and with liquidity in the financial markets all but dried up how do you expect to get in during volatile forex news events. For a technical day trader like me they are fine and I have a lot of funds in their account. In times like these you must trust a broker big enough and with a clean reputation to hold your money, FXCM fits all the criteria.

A very bad company, they opened the trading at normal time and when I opened a position they close it by margin call with a very high rate that never exist at this time, and when I called them they told me first that there was a gap in rate then they told me I made the trade before market open!!!!!

They never call me again and they never answers my call.

No this is not a scam. But now at a crisis time we all can see the real FXCM face, greedy and ignorant, just like they always are. Rollover rates are outrageous. Lately UP TO $7 per mini lot!!!! while no other brokers dare to do that to their customers. I couldn't hold my entries in drawdown because of that. Whith this rate they drain your margin in a month down to zero. Closed at loss and pulled my money out. Only it takes them a week to do a credit card refund.
When I was trading news with them, slippage of 50 and more pips on NFP is very common. Lost a few trades because of that and had to quit playing news with them. FXCM is constantly locking out the platform on the news. I'm not in Nigeria I'm in Canada and have a light speed connection. So that bullshit about internet connection will not work with me. Plus, they are locking the platform only on the news. I'm a Forex group member and that was happening to everyone as we are always in the chat. So, FXCM customer relations can tear their asses apart trying to convince the world that they are not cheaters and scammers, and try to impress us with their massive numbers, a lot of people are dropping with them as they have shown their true face. STAY AWAY FROM FXCM !!!!

shameless broker and me get rip off big time, they freeze my trade and platform and then blame me my computer, i have engineer look at my computer and he say no problem, i call them and they say my country has bad connection with internet and my country fault i lose my money with this broker- be very careful with this shameless broker with no ethics

This broker is not a con artist or scammer, but if you do trade the news then you will feel that they ripped you off, problem is the fills, they will not let you enter or leave a position and if you do, you will get the worst possbile fill. For position traders they work fine but for scalpers and news seekers they are poor so just beware of the pitfalls.

the broker is not scam but if u trade news then you can get screwed big time, i tried trading house report today and got slipped 50 pips on eur dollar, but otherwise in normal trading the broker is efficent and give me correct profit and interest charge also very reasonable, my advise to everybody is do not trade at news time and everything very ok with this broker

I really have no complaints about this broker and if you are a profitable trader there is nothing to complain about FXCM. They give you your money within 24 hours upon request, 24 hours live customer service, outstanding news feeds all for free! I read about fxcm on other review sites and it seems the only people calling them scams are the traders who have lost money on their own calls.

I knew nothing of the forex market, but this broker has free workshops and taught me how to read the market and the charts. I opened an account with them and have had no problems, once the platform shut down and a position of mine was mistakenly closed but they quickly fixed this problem so I recommend them.

There are certainly much better brokers you can find but i give them a high rating because of their excellent service, they have a 24 hour live chat feature and you can ask them any question you have and they have a tutorial service that even helps you to trade forex! spreads are high though

This is a slimy broker as I tried a free demo account with them for one month and never had any problems, the second I switch to "live" trading I constantly get slipped any my orders take so long to get filled. Even to get out of a losing trade in a fast moving market is much harder with live trading. I am not rating them a scam because I have been scammed before by forex brokers and FXCM is not even close with those crooks that I lost so much with. If you are a "housewife" and not an active or professional trader I would use FXCM. For professionals go for an ECN. I mean no disrespect to the housewife.

i got slippage big time when i tried to get out when ism report come out, 65 pip loss when it should have been only 20 pip, many time when i get out i see say eur/usd 1.5520 and i buy at 1.5480 , they give me price of 1.5518, now you say only 2 pip is nothing but can add up when me trade many many time i give these people more pip, 2 pip per time and in one month i make 300 trade i lose 600 pip, i give advice if use this broker just try small money first and if nothing happen to you then you use them otherwise better to go to other broker.

Great service, great charts, great leverage and good and reasonable spreads commission free, what more could you ask for from a forex broker. They are also registered with nva and are the largest broker in the world. I would definitely recommend them and 5 stars for me!

I have used FXCM since December and I have not had any problems at all and customer service is quick to respond to my question. I love their platform and reccomend that new traders give it a try before trusting their money anywhere else.

I appreciate the comments from Jaclyn of FXCM cause it show you that FXCM is honest and not like some other brokers out there.

Top broker in my opinion, great customer service and although spreads could be better NO COMMISSIONS!!!

first heard about this broker on the business channel "bloomberg" and they sponsored a show called voices, i got the free demonstration and paid for some seminars and have started trading on my own, this broker is good and honest and has answered all my questions in a helpful and effective manner, their software and user interface took me some time to get used to so get the free demonstration package first

Let me be perfectly honest, I was scared to invest with this broker after reading so many negative reviews on forex peace army, I tried to write a positive review about this broker but it never got posted, so I did some investigating, i found out that forex peace army will promote only mb trading, so i did open an account with mb trading, but my commissions really added up and by the end of the month i was paying thousands in commissions, i saw ads of fxcm on bloomberg, cnbc and even in the newspaper so i said what the heck, let me take a risk and i can honestly say I am glad I did, there are no commissions with fxcm and the broker is great, its you the trader that has to make the trade, if you have winning trades then you win, its as simple as that, I recommend everyone to at least try them out, you can open an account with as little as 1,000 bucks.

I first got a demo account in christmas and never had any problems with the, I opened a mini real account in March and so far this broker is fine, the charting software is great and they also give free news feeds, just like i have reuters and it is free, usually you have to pay $1000 a month just to get these news feeds. Check them out at fxcm.com

I am rating this 5 stars because my funds are safe. I have been with them for over one year and NEVER NEVER had any problem taking my money out, before I found fxcm, I was with another broker that just closed down and stole my money, I cannot give the name as my case is under litigation at the moment but spreads, execution all are useless unless your funds are safe always remember this. FXCM may not be the cheapest broker out there but this safety is worth paying a few extra pips per trade.

They even have a Hong Kong office and withdrawls and deposits are very easy, their customer service is outstanding and if you don't belive me get a free demo and see how easy their platform is. They are the largest retail broker in the world so you know your funds are safe and they have over 100 million usd in account and over 100,000 clients. I only trust my money with FXCM

I have else in places that FXCM trades against you. That is so absurd. Do they tell you what to do and when to do it? You place whatever trades YOU want to place and whenever YOU want to place them. Last year I had to withdraw money from another service and had to beg customer service to let me have my own dime back. Trust me, I have had no such issue with FXCM and their platform is excellent and additionals are great.

I use FXCM exclusively. In the world of Forex you want a broker than can stand behind your trade and back it up with a healthy balance sheet. I am sure you can save sometimes using another lesser known company but you are taking the chance of a turbulent event devasting your broker and jeopardizing your entire account. I am very impressed that a FXCM is monitoring their review section here at Forex Justice and they obviously care about what their clients have to say. While other brokers claim customer support, only FXCM is stepping outside the lines to help clear any misunderstandings amongst clients. GREAT JOB. Finding this review section while looking for forex signal help, has ratified my decision to continue to stay with this very SOLID company.

Love it, excellent service, excellent platform, suberb execution and best of all, free super cool news feeds!!!! Thank you FXCM for all of this!

I have two accounts, one with Oanda and one with FXCM, I thought I would highlight the differences for the newbie trader. The reason I opened with FXCM and Oanda is simply because these are the 2 largest retail forex brokers in the world. FXCM offers a much better leverage option and they don't widen the spread so much during news times which is better than Oandas. Oanda however widens the spread, has a lousy leverage. The good points however are that Oanda spread generally are very low and tight, and when you are in a position, OANDA will always get you out if you want to get out, no platform freezes or other b.s that you have to go through with other brokers.

For a long term trader these guys are the best! The spreads are tight, no commissions and best of all they gave great news feeds and these are for free! The live chat feature is great and I have so many questions and they answer all of them without ever a fuss, what more could you ask for. They are also a very large forex broker so your funds will be safe.x

scam my ass, they pay within 24 hours, I can even fund my account with a credit card, the only only drawback is that their spreads are wider than other brokers, on eur/usd can be 3 pips, they also have one click execution but you can't use them for news events as their platform can go into "freeze" mode, but if you are a swing trader and are looking for 50-100 pips per trade with an equal stop they are just fine, also have mini accounts and you can get educational materials from them at a discount.

FXCM plots their retail customers on a chart. They give that chart to their institutional brokers to trade the opposite positions. They know their customers have a 95%+ fail rate. So they have their institutions brokers trade the opposite side to be 95% successful. I have a copy of the chart.
Their customers are not trained correctly. FXCM want them to fail. The institutional brokers trade large volume so they make more for themselves and FXCM. It is morally wrong for FXCM to be allowed to advertise forex to retail customers without the disclosure of the fail rate of the retail customer......

I must say that I am very impressed by seeing Jaclyn representing FXCM reading what people have to say about them. I guess they must take what we say very seriously and I must admit that I was just here to read what others had to say and was not going to post anything myself but I am really quite shocked to see that a company the size of FXCM (I've seen their balance sheet) is so pro-active with customer service. I feel a lot better knowing that if I had any issue, it would be so actively addressed. I am utterly impressed FXCM. Great two way review site. I wish other companies would be so open to address their comments and reviews.

5 very big STARS!

hello
This Broker is a very small one that tries to show him self as a bigger one
here is a recording of a chat that i had with them feel free to get the impression by your self.

FXCM€3: Welcome to FXCM's Live Chat Feature. So that we may better serve you, feel free to provide me with your name and email address. How may I help you?

shmuel: hello

FXCM€3: hello ,

FXCM€3: my name is Walker

shmuel: mine is Shmuel

shmuel: i asked to be a signal provider for your FSS service

shmuel: i was asked to contact Greg Hay from Tradency

FXCM€3: ok,

shmuel: i tried to setup up with him the system

shmuel: but there seems to be malfunctions in Tradency system or lack of time to support

shmuel: i'm trying to contact Greg for over a month now

FXCM€3: ok, you need to contact tradency with these questions

FXCM€3: FXCM strictly handles the execution end

shmuel: it seems that there is a hidden reason for not to add my system

shmuel: and there for i wanted your interfearence

FXCM€3: there is nothing we can do

FXCM€3: they are a separate company

FXCM€3: Is there anything else I may do to help you today?

shmuel: they giving you a service no ?

FXCM€3: we execute trades

FXCM€3: based off of signals from their software

shmuel: i know, but i think your manager would have to say something about the issue since it downgrades possibilities for your executions

FXCM€3: There is nothing we can do in this regard

FXCM€3: you must contact tradency directly

FXCM€3: feel free to email

FXCM€3: support@tradency.com

shmuel: can this session be brought to one of FXCM supperiors ?

FXCM€3: no, there is no one here

FXCM€3: that can pursue this issue further

shmuel: i thought you are a big company was i wrong ?

FXCM€3: Daily FX www.dailyfx.com now features over 100 articles and updates every day, a comprehensive economic and events calendar with detailed analysis of expectations and specialized currency rooms that offer currency specific articles and technical levels. Make www.dailyfx.com your one stop portal to FX news and analysis!!

Chat session has ended.

I have read about FXCM on another review site where they were rated close to scam, but I have seen so many ADS about this company I decided to try them out and funded them with 100K. I have no idea why they were rated so badly on the other site as they have done nothing wrong and I have been very profitable. I do not trade the news and am an experienced forex trader. I probably have to conclude they are rated a scam because there are lot of novice traders who lost money and instead of blaming themselves they blame the broker. People must always blame someone else for their losses and the broker becomes an easy scape goat. This broker is very good and your funds are safe as they have met the requirement by the NFA.

Here is some advice for those novice traders, look in the mirror and blame yourself for your losses don't pick on the broker, they just stream the price and execute your trade which you instruct them to do.

I have not had any problems with this company and would recommend to anyone out there. I have overall lost money in my forex account but this is not fxcms fault but my stupidity taking dumb trades. The broker has been very good to me and customer service representatives are very helpful when I have a question that needs taken care of.

I used to hate them but recently they have improved out of sight, spreads are tighter and don't stop hunt, I closed my account around 12 months ago but have joined them again. They also have mini lots great customer service and great news feeds. I would give them 5 starts if their spreads were even tighter.

I have used them with no problems, as long as you don't scalp markets or trade the news this broker is fine. They are a very large broker and you know your funds are safe, great customer service. Very easy to withdraw and deposit funds in their account and 24 hours customer service.

i was making good money, then they put me on manual execution where it takes several seconds to minutes for your trade to get executed, and I lost everything. It is like a crook putting a gun to your head. If they did not have this system in place I would have continued using them, go to an other broker unless you like to flush your money down the toilet

I used to trade exclusively with FXCM but got screwed in a couple of trades and took on Oanda as a backup broker and now I use them exclusively. Good luck.

Maybe they could get a better rating from me but i have been screwed with their system and trading with this company is sometimes not enjoyable and is common to worry when you cannot make a trade.

I have traded with fxcm for about a year. And as far as i am concerned, they are very good. i don't think that they are perfect of course but their customer service is very friendly and i appreciate that. People are always at a rush to judge brokers and it is smart for them to first learn trading on a practice demo account before they go live with real money and then complain with their emotions. Hope this review helps others to make a good choice and fxcm is not a bad choice.

Dear Traders,

FXCM understands the importance of choosing the right broker, and we would like to take the time to address some of the concerns traders have written about on Forex Justice.

To address Stuart’s review on November 9, 2007:

Dear Stuart,

FXCM's No Dealing Desk aims to provide transparent and fair execution. Every trade is executed back to back with one of the world's premier banks or financial institutions, which compete to provide FXCM with bid and ask prices. The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip or less for major currency pairs.

Reasons we offer No Dealing Desk Execution:

- No conflict of interest between broker and trader
- No dealer intervention in trades
- Greater price stability during volatile markets
- Price providers (Banks) do not see your stops, limits, and entry orders
- Competition reduces the potential for market manipulation by price providers

No Trading Restrictions

- Trade during breaking news
- Place entry orders anywhere, even inside the spread
- Scalp the market
- Rollover transparency, all amounts are displayed in advance
- Receive positive rolls at all margin levels

To address Shmuel’s review on January 29, 2008:

Dear Shmuel,

Tradency is the technology provider for the Forex System Selector and decides which signals will be available for possible inclusion on their mirror trading service. FXCM provides the execution on the platform and provides customer service to FXCM account holders only.

In order to request your system be included for Tradency to offer on their platform, you will need to contact Tradency directly as we are separate companies.

To address Dave’s review on May 6, 2008:

Dear Dave,

I think that what you are referring to would be FXCM's proprietary market-positioning data which we call the Speculative Sentiment Index (SSI) which gauges market sentiment to identify break out and trend trading opportunities. The SSI is similar to the COT report but is better because it is more timely and updated frequently.

This is available to ALL FXCM clients both retail and institutional. You can find the SSI report on DailyFX Plus which is available to all live account holders http://plus.dailyfx.com. The report is updated twice daily.

You can also find the SSI reported weekly every Thursday. Everyone is welcome to this proprietary data the weekly SSI data by going to:www.dailyfx.com/technical_analysis/sentiment

Additionally, we would also like to discuss a couple of general topics which are not often clearly understood in the trading community:

Support

There are varying levels of support available at FXCM depending on the account type you choose. It is important to be aware of these support options when choosing your account type.

FXCM Micro is our discount brokerage division, in order to provide you with tight spreads for 1K lot sizes (as little as 15 cents per lot for EUR/USD), we control expenses, such as costly support services. Instead of providing support services to you by phone or IM, we have created extensive self-help sections so that you can find immediate answers on our Web site. Of course, you will receive a personalized response via e-mail for anything related to your account, and you can log on to our interactive forums for trading- and service-related questions.

FXCM Standard 10k accounts have full support available 24 hours a day 7 days a week by phone, live chat and email.If you require real time phone and chat support, then it would be best to choose the standard 10k account option.

No Dealing Desk Execution

FXCM's No Dealing Desk execution on standard 10k accounts aims to provide transparent and fair execution. Every trade is executed back to back with one of the world's premier banks or financial institutions, which compete to provide FXCM with bid and ask prices.

FXCM makes an identical amount of money in the form of pip markups regardless of whether the customer made or lost money on the account. FXCM receives prices from over a dozen of the world's largest banks and market makers in the foreign exchange markets. A best bid/offer engine sorts those prices and marks them up with our standard fixed markup on the majors. This markup acts as the commission on the trade. When a customer clicks on a price, they are actually clicking on a price from the bank that currently has the best bid or offer, plus our markup. Given that we make money on a per trade basis, it is in our primary interest to help clients become more profitable so they can trade more. To that end, extra incentives to clients and education that make a real positive impact for clients are very important to us. We don't benefit from customer losses.

The spreads you see on the platform are determined by the best bid/ask prices being provided by the banks. During periods of increased volatility, such as fundamental news announcements, just be aware that spreads may widen as the actual banks seek to manage their risk or offer less liquidity.

Withdrawing Funds

You may withdraw funds at any time and for any amount by completing the withdrawal request form found at www.myfxcm.com. If you have any questions about the status of a withdrawal, please do not hesitate to contact our client services support, and we will work with you to answer any questions.

Thank you,

Jason Rogers

FXCM Ambassador to Online Communities

jrogers@fxcm.com