Is any one here could withdraw cash with fxcm, in my account when I was trying to withdraw they have withdrawn from account instead, and when I explain the issue to them I receive no replays. So I don’t understand if thers some sort of a scam going on or what?
Hi I don’t want to start this forum on this note but all I can tell you is that fxcm is some sort of market maker and has all forms of tricks with clients. Now the problem is, we won’t know if it’s their affiliates or fxcm themselves.
So my advice will be use a descent broker that suites your style best.
Fxcm has a great charting facilities, You can trade and make orders on charts, is easy an simple to use ther trading platfm. But ther service to clients is poor, like now it takes them long to answer my queries. A good broker is the one that will give a guarantee for your money and can solve problems fst
Hi Mhabib,
I wanted to follow up with you, because you mentioned that you hadn’t yet received a reply to an inquiry you made regarding a withdrawal. Did you send your inquiry by email over the weekend? If that’s the case, you should receive a reply to your email shortly now that it’s Monday. For future reference, keep in mind that you can get immediate assistance by using our live chat feature or calling one of our international toll-free numbers. FXCM has live customer support staff in the office 24 hours a day, 7 days a week to answer your questions.
I’m glad you like our Trading Station platform and charts, but I’m sorry you’ve had difficulty reaching our customer service team. As I mentioned above, you will get a quicker response by using our live chat or calling us, than you would by emailing.
You’re right to make the safety of your funds a priority. Lower trading volumes over the past couple of years have caused many brokers to struggle. Last year saw a broker in Europe and a broker in the US both go bankrupt. Just recently an Australian broker went bankrupt as well.
If recent events have taught us anything, it’s that the financial stability of the broker you choose can have far greater implications than we previously thought. Unfortunately, the vast majority of these brokers are privately held companies, so it’s hard to know the state of their finances. Are they profitable, or are they barely staying afloat? How can you know whether they are safe place to keep your money?
FXCM is a publicly-traded company (NYSE ticker: FXCM), so information regarding our financial data is readily available. This is one of the reasons why traders have entrusted us with $1.171 billion in client funds as of the latest published data.
Jason
What you’ve said here is incorrect. FXCM offers clients the choice between two types of forex execution: No Dealing Desk (NDD) and Dealing Desk. While FXCM believes that NDD execution provides the best all-around trading experience, we also offer dealing desk execution as an option for traders whose primary concern is low spreads. Regardless of the execution option you choose, there are no requotes or other forms of dealer intervention when trading with FXCM.
In the NDD model, FXCM does not take a market position, eliminating a major trading conflict of interest. Your orders automatically fill from the NDD price feed, which is the best available bid and best ask prices from all of our liquidity providers plus FXCM’s mark-up. Additionally, your orders are anonymous to the liquidity providers. They cannot see your stops, limits, or entry orders; they only see market orders coming from FXCM.
In the Dealing Desk model, the firm may actively be taking a position in the market, which exposes the firm to market risk. When you are long, the dealing desk may be short. When you are short, the dealing desk may be long. So your losses can equate to the dealing desk’s profit. Alternatively, your profits can equate to the dealing desk’s loss. Certain strategies expose dealing desks to more risk, such as automated strategies or strategies that trade at a high frequency.
To better manage their market risk, some dealing desk firms actively intervene in their clients’ trading by requoting orders, delaying execution, skewing prices, or widening spreads. FXCM does none of this. That’s because if you are trading on our Dealing Desk execution and your trading style exposes us to more risk than we’re comfortable with, FXCM may, at our sole discretion and at any time, change your execution type to NDD. This is how FXCM can comfortably offer both options without having to resort to some of the common “dealer intervention” practices listed above which take place at many forex brokers.
A beginner may not find your explanation in his favor. Personally I had experience where I have not even funded my account and your platform is freezing every now and then and did not update the prices. I thought it was my Internet connection yet I discovered that after executing 2 trades in 2 other platforms, fxcm is still freezing.
Now I thought it was because I was trading through an affiliate but I kept hearing complaints here and there even on YouTube. There is some truth in all complaints. Everyone complaining can’t be lying just to spoil a company image. Well, it’s up to anyone who chooses fxcm as am not even sure of my broker yet. God help us all.
The fact that this freezing occurred before you even funded your account should have told you that this was most likely a tech issue and nothing malicious like you are implying.
It sounds like the connection problem you experienced was specifically affecting the transmission of data between the location of your computer and the location of our servers. Our servers are located in the US. Where do you live?
We are happy to look into what is affecting your connection to our platform. I encourage you to contact us. Our tech support team is available 24 hours a day by live chat or phone.
You are right. That is why whenever a client expresses concerns about our trading execution, I try to follow up with them to determine what happened. Often it turns out that it was simply a misunderstanding by someone who is new to our platform that can be easily addressed. Here is a recent example from this forum.
This commitment to our clients to address any concerns is one of the reasons why traders have entrusted FXCM with $1.171 billion in client funds as of the latest published data.
Jason I have sent an email since last week
According to my exp, FXCM is a good broker, just email for them your issue and I think they will solve it.
I want to follow up on this for you personally. Please send me a private message with your contact details including the email address you used last week and the best phone number to reach you.
[QUOTE=“Jason Rogers;551650”]
I want to follow up on this for you personally. Please send me a private message with your contact details including the email address you used last week and the best phone number to reach you.[/QUOTE]
Whats ur email I don’t have access to private msgs
[QUOTE=“Jason Rogers;552413”]
<[email protected]>[/QUOTE]
I sent you an email last week, I hope you got it
Yes Mhabib, I followed up with our Operations department and replied back to your email. You originally deposited your funds to your FXCM trading account via credit card, and your funds returned back to the same card, when you submitted your withdrawal request. No money was ever taken from you bank account by FXCM. Please double check your records with your bank to confirm this.
[QUOTE=“Jason Rogers;554653”]
Yes Mhabib, I followed up with our Operations department and replied back to your email. You originally deposited your funds to your FXCM trading account via credit card, and your funds returned back to the same card, when you submitted your withdrawal request. No money was ever taken from you bank account by FXCM. Please double check your records with your bank to confirm this.[/QUOTE]
I printed the statement again and have seen that the money was refunded back into my account on 7th October.
Thnx though
Thanks for the update, Mhabib, I’m glad to hear that’s sorted 
Hi, I would really like to explore the statement that FXCM is not a market maker, i recently switched from Etoro wich is more of a Casino than a broker service, they have absolutly no interest in their clients making money, actually it would mean them going broke themselves, ofcourse that is a completly insane premise for any halfway serious trading activity.
Now Ive bought into all the nice wording from FXCM about not being a market maker offering dealing desk so and so and started up with an experimental account to see how it works out before considering doing this with serious amounts. But I have to say that my doubts have begun to pop up more and more, im doing pretty good on my deals, but seem to constantly loose money on silly technicalities and hurdles thrown up by FXCM trading software, execution and lack of information, furthermore there seems to be a constant presence of people complaining about all kinds of hurdles and maces when they try to withdraw their money from you, now Im not saying that this would mean anything in the jungle of internet grugde and comlaining, but it certainly raises some attention regarding the future potential of trading larger sums with FXCM.
So can you answer me this very simple question? if I am very succesfull using your NDD trading and make huge profits, does it come out of FXCM’s pocket?
Hi Chrbje,
Welcome to BabyPips 
On our NDD model, your profits do not come out of our pocket. We make the same amount of money whether you win or lose on your trades. Our profit comes from a fixed pip markup applied to best bid and ask prices we receive from 10+ competing liquidity providers. This pip markup acts like a commission, which means we make our money off your trading volume, not your losses.
We’d love for you to become very successful in your trading, because it means you’re more likely to continue trading with us and increase your trade size. That translates into more trading volume for us. In fact, if your trading volume reaches 10 million notional per month, or your account balance exceeds 25k, you can qualify for an Active Trader account with lower trading costs and additional benefits.
I want to make sure you’re aware that while FXCM believes that NDD execution provides the best all-around trading experience, we also offer dealing desk execution as an option for traders whose primary concern is low spreads. The Dealing Desk offering, however, has certain trading limitations.
Dealing Desk execution is used by many brokers in the forex industry. However, FXCM’s Dealing Desk execution offering is unique because it shares important features with our No Dealing Desk (NDD) execution, such as no re-quotes and no restrictions on stops and limits. But no matter what the similarities, the Dealing Desk offering has certain trading limitations.
When operating a Dealing Desk the firm may actively be taking a position in the market, which exposes the firm to market risk. When you are long, the Dealing Desk may be short. When you are short, the Dealing Desk may be long. So your losses can equate to the Dealing Desk’s profit. Alternatively, your profits can equate to the Dealing Desk’s loss. Certain strategies expose Dealing Desks to more risk, such as automated strategies or strategies that trade at a high frequency. To better manage their market risk, some Dealing Desk firms actively intervene in their clients’ trading by re-quoting orders, delaying execution, skewing prices, or widening spreads.
At FXCM we offer both Dealing Desk and NDD execution. If you are trading on Dealing Desk execution and your trading style exposes us to more risk than we’re comfortable with, FXCM may, at our sole discretion and at any time, change your execution type to NDD. This is how FXCM can comfortably offer both options without having to resort to some of the common “dealer intervention” practices listed above which take place at many forex brokers.
I’m glad to hear that you’re enjoying success trading on our NDD execution. Since we immediately offset your orders one-for-one with our liquidity providers, we have no incentive to hamper your trading with technical issues. If you face a technical issue, then it hurts us as well. For starters, if your trades are negatively impacted by an error on our part, then the Trade Audit Committee can investigate this for you and make the appropriate correction to your account if necessary. Furthermore, when you can’t place a trade due to a technical issue, then we’re missing out on your trading volume, which is how we make money.
I would appreciate it, if you could provide more details about the tech issues you’ve faced. I can even arrange to have one of our tech specialists give you a follow up call, if you send me a private message with your contact details.
Where did you see this? Please provide a link, because in my experience answering questions for clients on forums, I have seen nothing like what you describe. Even in this thread, the original poster admitted that he made an error. He received his funds a week before he even started the thread.
Our clients can withdraw their funds via the MyFXCM.com website anytime 24 hours a day. We offer numerous transfer methods to make the process as easy as possible. At FXCM, we believe the safety of client funds is of paramount importance.
It’s no secret that the brokerage industry has been in the midst of a price war for the past couple of years. That combined with lower trading volumes over the past couple of years have caused many brokers to struggle. There was even a broker in Europe that went bankrupt after trying to entice clients with 0 pip spreads. That year also saw the failure of a US broker that had previously touted their razor thin spreads. We’ve had other brokers have to pull out of the US after being unable to meet regulatory capital requirements. Just recently an Australian broker went bankrupt as well.
If recent events have taught us anything, it’s that the financial stability of the broker you choose can have huge implications. Unfortunately, the vast majority of forex brokers are privately held companies, so it’s hard to know the state of their finances. Are they profitable, or are they barely staying afloat? How can you know whether they are safe place to keep your money?
All traders need to ask their brokers the following questions regarding their financial stability.
[ol]
[li]What are your revenues?
[/li][li]How profitable is your firm?
[/li][li]Do you have a top-tier third party accounting firm auditing your financials?
[/li][/ol]
FXCM is a publicly-traded company (NYSE ticker: FXCM), so information regarding our financial data is readily available. It’s one of many reasons why traders have entrusted us with $1.264 billion in client funds.
[QUOTE=Jason Rogers;610153]Hi Chrbje,
Welcome to BabyPips :)
On our NDD model, your profits do not come out of our pocket. We make the same amount of money whether you win or lose on your trades. Our profit comes from a fixed pip markup applied to best bid and ask prices we receive from 10+ competing liquidity providers. This pip markup acts like a commission, which means we make our money off your trading volume, not your losses.
We'd love for you to become very successful in your trading, because it means you're more likely to continue trading with us and increase your trade size. That translates into more trading volume for us. In fact, if your trading volume reaches 10 million notional per month, or your account balance exceeds 25k, you can qualify for an [ with lower trading costs and additional benefits.
I want to make sure you're aware that while FXCM believes that NDD execution provides the best all-around trading experience, we also offer dealing desk execution as an option for traders whose primary concern is low spreads. The Dealing Desk offering, however, has certain trading limitations.
Dealing Desk execution is used by many brokers in the forex industry. However, FXCM's Dealing Desk execution offering is unique because it shares important features with our No Dealing Desk (NDD) execution, such as no re-quotes and no restrictions on stops and limits. But no matter what the similarities, the Dealing Desk offering has certain trading limitations.
When operating a Dealing Desk the firm may actively be taking a position in the market, which exposes the firm to market risk. When you are long, the Dealing Desk may be short. When you are short, the Dealing Desk may be long. So your losses can equate to the Dealing Desk's profit. Alternatively, your profits can equate to the Dealing Desk's loss. Certain strategies expose Dealing Desks to more risk, such as automated strategies or strategies that trade at a high frequency. To better manage their market risk, some Dealing Desk firms actively intervene in their clients' trading by re-quoting orders, delaying execution, skewing prices, or widening spreads.
At FXCM we offer both Dealing Desk and NDD execution. If you are trading on Dealing Desk execution and your trading style exposes us to more risk than we're comfortable with, FXCM may, at our sole discretion and at any time, change your execution type to NDD. This is how FXCM can comfortably offer both options without having to resort to some of the common “dealer intervention” practices listed above which take place at many forex brokers.
I'm glad to hear that you're enjoying success trading on our NDD execution. Since we immediately offset your orders one-for-one with our liquidity providers, we have no incentive to hamper your trading with technical issues. If you face a technical issue, then it hurts us as well. For starters, if your trades are negatively impacted by an error on our part, then the Trade Audit Committee can investigate this for you and make the appropriate correction to your account if necessary. Furthermore, when you can't place a trade due to a technical issue, then we're missing out on your trading volume, which is how we make money.
I would appreciate it, if you could provide more details about the tech issues you've faced. I can even arrange to have one of our tech specialists give you a follow up call, if you send me a private message with your contact details.
Where did you see this? Please provide a link, because in my experience answering questions for clients on forums, I have seen nothing like what you describe. Even in this thread, the original poster admitted that he made an error. He received his funds a week before he even started the thread
Our clients can withdraw their funds via the MyFXCM.com website anytime 24 hours a day. We offer numerous transfer methods to make the process as easy as possible. At FXCM, we believe the safety of client funds is of paramount importance.
If recent events have taught us anything, it's that the financial stability of the broker you choose can have huge implications. Unfortunately, the vast majority of forex brokers are privately held companies, so it's hard to know the state of their finances. Are they profitable, or are they barely staying afloat? How can you know whether they are safe place to keep your money?
All traders need to ask their brokers the following questions regarding their financial stability.
[ol]
[li]What are your revenues?
[/li][li]How profitable is your firm?
[/li][li]Do you have a top-tier third party accounting firm auditing your financials?
[/li][/ol]
FXCM is a publicly-traded company (NYSE ticker: FXCM), so information regarding our financial data is readily available. It's one of many reasons why traders have entrusted us with
Thank you for you answer, its very hard to manouver the world of online forex and as the industry tap into the masses of normal people with varying degree of knowlege and day to day focus it seems like its a shooting fish in a pond type of setup for some dubious brokers/service providers, and the problem will always be that there is a 100 ways a broker/service can screw you over without you even noticing, so gotta be a sceptic and so far appart from some minor function/prompting/feedback issues in the software im pretty happy. As an example I am puzzled by the fact that if I have several positions open on a pair and deside to close the oldest position as it might have come into positive, it wil close the newest one with out any prompts to the fact that its not intending to do what i asked it, I realize this is down to the last in first out routine, but still, a very quick way to loose money if your not 100% alert or should happen to click a wrong button by mistake, stuff like this makes me wonder.
As far as the withdrawel comment I dont really have the spesific comments at hand, was more of a general internet buzz that i dont really put to much weight on anyway, as I said there is always grudge on the internet no matter what you do.
I still unclear what issues you issues you’re facing with our trading platforms. It would help to have more specifics. For starters, which of our platforms are you using?
I’m confused by your statements. If you now know how the platform works, what could cause you to place an order in a way other than you intended? And if you’re not alert and click the wrong button by mistake, why would that make you wonder about us? Furthermore, FXCM US accounts are required by CFTC regulations to close trades in first-in, first-out (FIFO) order. Non-US accounts are free to close trades in any order preferred by the trader. If you’re having difficulty closing trades in the order you want, our 24-hour live customer support team would be happy to walk you through this functionality over the phone.