Hello,

I am new R.B (referring Broker) with FXCM company.
Please I need the advise from any trader using FXCM-MT4 ?
What is advantages/Disadvantages ?
Is there any problem with using EA's ?

Thanks to all

I have a micro acct with them. So far platform to me is user friendly.

Their platform is user friendly however I've seen some poor reviews, I would set up a demo first to see what it's like to trade with them before deciding.

i have one problem with installing the MT4 platform.
I can't get them to finish the installation correctly (where you usually get login and password)

anyone experience the same?
maybe i need to re-download the software.

Hi,

I just fund something interesting concerning FXCM enjoy:

$17,014 may not be a large amount of money, but fears are growing that a dispute involving retail FX broker FXCM and the US Commodities and Futures Trading Commission (CFTC) over just that amount may have repercussions for the wider FX market.
FXCM has been accused by a client, Robert Dickten, of “arbitrarily setting prices without any correlation to the prevailing spot prices on the interbank market; setting arbitrary and unreasonably wide bid-ask spreads; arbitrarily "spiking" prices to trigger stop orders and margin calls; and filling market orders that routinely suffered from substantial and unjustifiable slippage.”
The CFTC has fined FXCM $2,425 having found it guilty of “defrauding” the client during the initial solicitation for his business although other charges were dropped. Dickten told the CFTC that he continued to trade with FXCM in spite of growing doubts over the firm’s practices in order to gather sufficient evidence for a complaint.
Market sources tell Squawkbox that disputes between liquidity providers and clients in the retail space are “nothing new” but there is an acceptance that allegations by Dickten that FXCM’s platform arbitrarily quoted spreads of “double and triple-digits”, do the industry no good.
Banking sources spoken to by Squawkbox agree that spreads on the bank platforms – which FXCM uses on occasions to lay off risk – went to double digits during the height of the credit crunch, but apart from markets that are already quoted on a wide basis – typically emerging markets – at no time did spreads hit three digits.
The CFTC states that: “Dickten has established that FXCM's website misrepresented and omitted various material facts. FXCM's claim that customer funds were "safe" because FXCM was "regulated" distorted the fact that forex dealers are lightly regulated. Thus, the funds of forex customers are not legally required to be subject to segregation and may be subject to claims by the creditors of a forex dealer.
FXCM's guarantee that trading was slippage-free was deceptive because forex dealers such as FXCM have not proven the capability, during inevitable volatile market conditions, to consistently fill stop and limit orders at or near the stop or limit price.
“More importantly, FXCM's website did not clearly disclose the conflict that arose from the fact that FXCM made money on the mark-up or pip-spread on trades, and did not clearly disclose the size of the mark-up or its detrimental effect on profitability,” the CFTC adds. “Finally, the disclosures in FXCM's account-opening package were sufficiently weak and misleading that they failed to correct the website deceptions. FXCM's disclosures similarly failed to cure the misleading nature of the trading forex with FXCM, because the contest featured narrower bid-ask spreads than those imposed by FXCM. The recklessness of FXCM's various misrepresentations and omissions was underscored by their blatantly baseless and deceptive nature.”
There is a degree of disquiet in the foreign exchange industry over the case because FXCM is questioning the authority of the CFTC to pass judgment. The firm says that as the trades in question are spot OTC deals they are outside of the CFTC’s jurisdiction – a claim the CFTC refutes. Should the CFTC succeed in establishing its jurisdiction in this case, industry sources believe that the wider foreign exchange market is one step closer to regulation.
“We have seen the lines blur between retail and wholesale over the past couple of years,” says a banking source. “If the authorities can establish themselves as a regulator of the OTC retail FX market – as opposed to the FCMs which are futures shops – the market may face a choice. Accept it is only a matter of time before the wholesale market is subject to the same oversight, or establish definable barriers between retail and wholesale FX markets.”

FXCM is great, low spread, high leverage, micro/mini/standard platforms. However they do not provide a demo for thier mt4 platform and hence i know not if the spread is low spread like the fxcm station platform

As per the latest news at the site, they do provide MT4 platform for demo account too, but upon special request.
So you can try that too..!

As far as I know and have experienced FXCM is just a pure stop loss hunter!
Beware, especially with very small acounts.

Just my 2 cents

regards

Hi care to elaborate more on your issue. I have a micro with them and platform is great.

I have a better solution for you instead of FXCM, well it's just an option;

I am a risk management consultant in forex. We are outsourced by GBtrade International located in Auckland, New Zealand to provide consultation for the investors in Forex.
We are specialised in market analysis and trained to minimised the risk and maximise the profits for investors.

A Brief Introduction.
In this contemporary society, we have numerous kinds of investments which are involved by entrepreneurs, business corporate, high, mid and not to forget low income workers. Kinds of investments which are available here in our country are Share Markets, Bond, Commodities, Mutual Funds, Unit Trusts, Insurance and so many more. Our company is dealing with Forex, also known as Foreign Exchange Market. It is the largest market in the world, even larger than all the market in the world combine together with the amount of USD $4,000,000,000,000 (4 Trillion) flowing up and down within a day. The reason is simple, all the investment market have one thing in common. All of them involve money or cash flow, which also means currency flow in all the investments. Which puts Forex above all of them combine together.
Where do we stand between YOU and FOREX.

We are known as a Business Management Consultancy. The reason is that, we are marketing a Platform provided by our principal company in New Zealand, Auckland known as GBtrade. The platform provided is to allow individuals to trade currency from anywhere provided there is laptop/computer with internet connection available. We also educate our clients which counter, when and how to tackle the market to earn a relatively good income for the size of your investment by minimizing the risk and maximizing your profit in this field.
Myths and Protection.

Yes, Forex companies are illegal here in Malaysia. Numbers of company has been closed in recent years. The reason is that, those companies have done two wrong steps in the process which is, illegal deposit taking and also money laundering. So be careful and i would suggest you to do a background check before involving with any Forex traders.
We are consultants who consult customer when to enter a trade and when to exit the trades then quote how much profit can they make from this. Also not to forget, we also quote customers how much profit can they gain from it.
To know more why is Forex an investment better than any other.

This is just for your information about what i do. PM me if you are interested as i will help you with any queries with your investments.

i think www.migfx.com is a better choice compared to Fxcm, what i heard of fxcm is a stoploss hunter too. or maybe u should not put StopLoss, there are some method that need not to put d StopLoss, which mean u r only enter market when u r so confirm the trend.

Thanks to all

I found that FXDD is much better.