FXCM, Oanda and forex.com, Which is best? - Page 12
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  1. #111
    Jason Rogers's Avatar
    Jason Rogers is offline Verified Broker Support and Analyst for FXCM FX-Men Honorary Member
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    Jun 2009
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    New York
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    3,327
    Quote Originally Posted by 21club View Post
    FXCM is large, but I've heard bad things about customer service.
    Hi 21club,

    I'm sorry to hear this. As FXCM's Online Ambassador to BabyPips, I am responsible for answering questions about FXCM's service on this forum. If you know someone who is unhappy with our service, please direct them to me. They can post a question in the Broker Aid Station or email me at jrogers@fxcm.com. I would like to offer my assistance to them. Also, we are always looking for ways to improve our service and would appreciate their feedback.

    Jason
    Ask me questions in the Broker Aid Station:
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  2. #112
    Join Date
    Aug 2012
    Location
    Japan
    Posts
    9
    in my opinion, I have been with FXCM for few years and found them good at some level. Their customer service is good compared to other brokers, but trading on their platform is horrible. Sometimes you get a very wide spread reaches 10 pips or could be worse than that... I remember when the crush happen in 2008, rollover fees were so scary and spreads OMG!! since then I started thinking to move to another honest broker. FXCM is tricky they know how to cheat you on their MT4 and believe it or not, they prices are sometimes different by 2 pips from the real market. They also have high slippage and sometimes their servers are down for no reason... I rate them 2.5/5

    On the other hand, I have been with Forex.com Gain Capital and guess what!! no complain so far... spreads are amazing, re-quotes barely seen, no weird spikes, no spreads widening even during news, customer service is good, and minimum deposit is very good compared to other brokers....

    for me I see that Forex.com is away much better than FXCM.... and honestly, it is somehow insulting to compare between both with my respect.

    Regards,

    Steve

  3. #113
    Join Date
    Feb 2014
    Posts
    3
    I just got burned by OANDA. From what I see, their prices for the most part reflect real world prices. However, if they see an opportunity to take out a lot of stop loses they will do it, even though the real world prices didn't hit those prices and had quote some distance to go. This use to not be their policy, but time's change. Perhaps OANDA's business is going down hill and they need to do this to stay afloat.

    BTW, I'm new to this forum, and really just joined more because I feel that folks need to know about this. Here's a chat with OANDA:

    General Info
    Chat start time Feb 7, 2014 9:11:59 AM EST
    Chat end time Feb 7, 2014 953 AM EST
    Duration (actual chatting time) 0053
    Operator Sherrie

    Chat Transcript

    info: You are now chatting with 'Sherrie'
    Sherrie: Hello. How may I assist you?
    Michael: Hello. I'm looking at the stop loss that was hit with my USD/JPY Trade. And when I compared it with the charting system that I used, it looks like it should not have hit. Also, I compared other brookers and their prices didn't breach my stop loss.
    Sherrie: Okay do you use the fxTrade or MT4 platform?
    Michael: Yes.
    Sherrie: Which one
    Sherrie: For your security, before I can continue I will have to ask you your security question.
    Michael: I have MT4 which I used for alerts but not for trading, and I trade using the java fxtrade platform.
    Sherrie: Thank you
    Sherrie: One moment please while I investigate
    Sherrie: On MT4 at the candle at 8:30 should have reached a low of 101.357
    Sherrie: Your stop loss is set at 101.401
    Sherrie: The bid price has dipped below your Stop loss price
    Michael: Yes, I know. However no other dealer that I can find or quote went as low as Oanda's. Does Oanda make the market swing lower to pick up stop losses? Or does Oanda's prices reflect what the market prices are?
    Sherrie: We provide our price based on what our liquidity provider provide us
    Sherrie: During volatile times, such as this morning
    Michael: BTW, Tradingview.com and Forexfactory.com is what brought my attendtion to this.
    Sherrie: There could be spread widening
    Sherrie: We don't stop hunt, as we don't trade against our client, taking client out will not benefit us in any way
    Michael: Well, can you reverse the stop loss action? Or should I just post my charts, this chat, and the pricing data on various web sites and let your the market judge along with drawing my account and seeking another dealer. I've read that Oanda is reasonable about this, but your comments do not seem reasonable. I thought Oanda's prices represented market prices.
    Sherrie: It's a valid pricing, thus we can't reverse the stop loss action.
    Sherrie: As you maybe already aware, forex market is not centralized, there's not One price as in the stock market.
    Sherrie: Prices among brokers should be around the same ball park, however, there's no guarantee that all brokers should have the same the price.
    Sherrie: It's well possible that one broker's price a bit lower or higher than other brokers.
    Michael: Ok. Well then Oanda "valid" price was the lowest of any dealer that I can find. Perhaps I need to find a dealer who's prices don't swing as wide as Oanda's. Anyhow, I'll take this to the Forum boards and see if I am out of line or of Oanda just burned my trade and a lot of others.
    Sherrie: I'm sorry that how you feel about this pricing, however, you may do just what you described if that's what you wish.
    Michael: Yep. And the market will decide if Oanda get's to continue the practice of lowering their quotes in order to hunt stop loses.
    Sherrie: We don't stop hunt, we are fully regulated, any such practice will have severe repercussions on us.
    Michael: Thanks for reminding me of that. I'll file a complaint while I am at it.
    Michael: Check out and you will see why I am not really to happy with Oanda.
    Sherrie: Again like I've explained, we don't guarantee that our pricing will be identical with other brokers. It's unfortunate that you've been stopped out, however, this is a valid pricing
    Michael: Ok. Well I see that you have dug in your heals and I am sure Oanda is doing this with it's other customers and this is why other dealers are in business. I'll file my complaints and post my charts showing pricing along with this chat. I'm sorry we couldn't work this out
    Last edited by TradeSmarter; 02-07-2014 at 11:54 AM.

  4. #114
    Join Date
    Feb 2014
    Posts
    37
    I have been Oanda sg for 3-4 yrs. So far, I have had instances where their wide spreads during news releases took out my stop, but I just count that as an infrequent occurrence. Just yesterday (22 Feb, at 0930 GMT or 5.30pm S'pore time, there was a news release affecting GBP. I was in a long GBPJPY trade and my stop was about 70 pips away from the price. I monitor alpari uk, fxcm and oanda prices. To my aghast, oanda's spread widened so much that my stop at 170.018 was taken out, where as lowest on alpari uk was 170.11, and fxcm was 170.076. I checked oanda price on their mt4 ios platform and showed that the lowest was 170.006, therefore taking out my stop. This is definitely not a once off occurrence. I emailed them to voice my displeasure but I know they will not do anything about it. Thus I will no longer trade actively with Oanda for their unfairly wide spreads during news releases, and search for another broker. I am moving to the UK soon and am thinking of FXCM UK or Forex.com.

  5. #115
    Join Date
    Feb 2014
    Posts
    2
    For me i prefer to invest with FXCM. they have good support and trusted

  6. #116
    Join Date
    Nov 2012
    Location
    Singapore
    Posts
    9
    GCI trading is good, so far with me. It's only my own lack of skill issue, nothing with their service affected me.
    do you all have any experience with gci like the negative ones? pls do advice me as well. many thanks!

  7. #117
    Join Date
    Oct 2013
    Posts
    2
    OANDA yesterday had a outrage during Fed Yellen testimonial. It was down an hr before causing many people to be unable to close position. My own shorts ran from positive to negative as I was unable to close as the platform frozed from 10pm(GMT+8) onwards. Their explanation: ISP problem, your losses u pay. Great service great reliability indeed. They have been pretty good until they had thios fiasco which make me review their credibility and integrity. Total shrinking from responsibility,

  8. #118
    Join Date
    Sep 2012
    Posts
    26
    Quote Originally Posted by KieronT View Post
    OANDA yesterday had a outrage during Fed Yellen testimonial. It was down an hr before causing many people to be unable to close position. My own shorts ran from positive to negative as I was unable to close as the platform frozed from 10pm(GMT+8) onwards. Their explanation: ISP problem, your losses u pay. Great service great reliability indeed. They have been pretty good until they had thios fiasco which make me review their credibility and integrity. Total shrinking from responsibility,
    Sorry for your loss buddy. I experienced that outage too, considering other brokers now in case such incidents occur again.

  9. #119
    Join Date
    Oct 2015
    Location
    Tangerang
    Posts
    11
    IMO, fxcm is good broker..
    but Oanda is the best!

  10. #120
    Jason Rogers's Avatar
    Jason Rogers is offline Verified Broker Support and Analyst for FXCM FX-Men Honorary Member
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    Jun 2009
    Location
    New York
    Posts
    3,327
    Quote Originally Posted by amrbsk View Post
    IMO, fxcm is good broker..
    but Oanda is the best!
    Hi Amrbsk,

    I'm glad you like FXCM. We are always looking to improve our service. Was there any particular reason you preferred that other broker?
    Ask me questions in the Broker Aid Station:
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