fxcm.com 
http://www.fxcm.com
Average user rating from: 32 user(s)

Broker Rating
3.9
 
fxcm.com

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Company response
Shmuel,

It appears that you were having a programming issue with Tradency. Tradency is the technology provider and sets up all signals dealing with developers for this platform, and therefore you would need to speak with Tradency directly.

FXCM provides the execution. We also provide customer service to account holders only.

Forex Capital Markets LLC is one of the Largest Forex Dealer Members

More than 100,000 live accounts are traded on FXCM trading platforms

Over $350 billion in notional volume is traded each month on FXCM trading platforms

As of January 2008, there is in excess of $700 million in customer funds trading on platforms offered by FXCM.

FXCM provides customer support with native speakers in more than a dozen languages in 6 offices around the world

If you have any further questions please do not hesitate to contact me directly at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it e-mail address is being protected from spam bots, you need JavaScript enabled to view it

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.

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

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+ which is usually only for live FXCM clients but is open for the rest of the summer to everyone. The report is updated twice daily.

You can also find the SSI reported weekly on Thursdays at DailyFX.com

Everyone is welcome to this proprietary data by going here: https://plus.dailyfx.com/tnews/loginForm.jsp

You can find all of our risk warnings here: http://www.fxcm.com/risk-warning.jsp

Also, FXCM runs on No Dealing Desk Execution. FXCM does not benefit regardless of whether the trader makes money or not. FXCM makes money by marking up the spread. It is in our long term interest to have successful clients that will stay with the company.

If you have any other questions please feel free to contact me directly.

Happy trading,

Kindest regards,
Jaclyn Sales
Public Relations Coordinator
FXCM
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005
Dir (646) 432-2463
Tel (212) 897-7660
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
User reviews
Wednesday, 25 June 2008

Written by Balu Chowder from India

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
Tuesday, 17 June 2008

Written by pipthirsty from USA

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.
Monday, 16 June 2008

Written by Felix the CAT from Belgium

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.
Thursday, 05 June 2008

Written by Eugne for pips from Zimbabwe

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
Wednesday, 04 June 2008

Written by Eddy Croes from USA

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.
Tuesday, 03 June 2008

Written by Aboo from Sri Lanka

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.
Monday, 02 June 2008

Written by Tony M from United Kingdom

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!
Friday, 30 May 2008

Written by Jennifer from USA

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.
Friday, 30 May 2008

Written by Oscar from Brazil

I appreciate the comments from Jaclyn of FXCM cause it show you that FXCM is honest and not like some other brokers out there.
Friday, 30 May 2008

Written by Happy Trader from USA

Top broker in my opinion, great customer service and although spreads could be better NO COMMISSIONS!!!
Thursday, 29 May 2008

Written by Penolope Charinga from Malaysia

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
Wednesday, 28 May 2008

Written by Joe Chan from Hong Kong

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.
Tuesday, 27 May 2008

Written by Vijay Malkani from USA

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
Monday, 26 May 2008

Written by Jose Piella from Macau

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.
Saturday, 24 May 2008

Written by Anthony Chow from China

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
Thursday, 22 May 2008

Written by Ted from USA

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.
Thursday, 22 May 2008

Written by Desiree from USA

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.
Saturday, 17 May 2008

Written by Tracy from United Kingdom

Love it, excellent service, excellent platform, suberb execution and best of all, free super cool news feeds!!!! Thank you FXCM for all of this!
Friday, 16 May 2008

Written by Wilbur from USA

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.
Wednesday, 14 May 2008

Written by Jerry from USA

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
Tuesday, 13 May 2008

Written by Roger from USA

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.
SCAM
Tuesday, 06 May 2008

Written by Dave from USA

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......
Tuesday, 04 March 2008

Written by Miguel from USA

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!
Tuesday, 29 January 2008

Written by Shmuel from Israel

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: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

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.
Tuesday, 13 November 2007

Written by Albert from USA

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.
Tuesday, 13 November 2007

Written by Shalia from Indonesia

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.
Saturday, 10 November 2007

Written by Christy from Hong Kong

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.
Saturday, 10 November 2007

Written by Shelly from USA

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.
SCAM
Saturday, 10 November 2007

Written by stuart from Australia

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
Friday, 09 November 2007

Written by Mike from New Zealand

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.
Wednesday, 07 November 2007

Written by David from Argentina

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.
Wednesday, 07 November 2007

Written by Justin from Italy

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.


 
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