PFG or FXCM?

[jhansen]

I am trying to decide if I should choose FXCM (MT4 account) or an account with PFG . I am not really concerned about using mt4 or pfg´s proprietary platform - and usd 5000 minimum is no concern either -
BUT: what are the spreads like when comparing the two? and the service... and the stability (disconnects etc.) ? I am sure there are some older forum members or even mods that have experience with either of these 2 - so please let me know your experience:-)
I would greatly appreciate some if the forum members here could share your experience:-)
thanks in advance!

[vilotwind]

See This

good way to chose

you can see it here with its tittle. Forex Investment

[jhansen]

bump!
pfg is supposed to be an ecn broker whereas fxcm is also claiming to be dealing with the major players - so - does anyone have experience or advice - good or bad - with either of the 2?
I'd really appreciate some independant feedback on this;-)
thanks!

[prolog]

FXCM doesn't offer demo accounts for MT4

depositing your sum of money without first being able to check if your strategy works, the slippage, the spreads and the quality of execution, is plain suicide.

My opinion

[PilfDaPips]

I considered PFG no too long ago. Excellent customer service - although it may have been that they just wanted a deposit - answered all of my questions. Download their demo. I think you may be surpised at their spreads even as they claim to be an ECN.
You might also want to take a peek at ATC - mt4 demo and ecn information available on their website.
As far as fxcm - as good a bucket shop as there is - if I am not mistaken, doesn't the great Kathy Lien have a stake in FXCM? - I've traded with them...I'm probably one of the few that actually likes the TSII platform.

Good luck!

[jhansen]

Originally Posted by PilfDaPips

I considered PFG no too long ago. Excellent customer service - although it may have been that they just wanted a deposit - answered all of my questions. Download their demo. I think you may be surpised at their spreads even as they claim to be an ECN.
You might also want to take a peek at ATC - mt4 demo and ecn information available on their website.
As far as fxcm - as good a bucket shop as there is - if I am not mistaken, doesn't the great Kathy Lien have a stake in FXCM? - I've traded with them...I'm probably one of the few that actually likes the TSII platform.

Good luck!

thanks mate!
i was thinking mostly of fxcm in terms of their mt4 accounts (usd 2000 minimum) but i've no ida about what spreads they offer... they just state "competitive" which is a bit murky to say the least

[the novice]

I have been with FXCM for a few years.
There have been bad reviews about them but I stuck with them because I liked their platform.
However lately I have encountered problems with them that caused me to lose money through no fault of mine.
Just this month, I had my pending trade passed over even though there was no gap and no news was released.
And again, this morning, when my trade was not executed as seen on my platform even though the price went in my direction.
Imagine my horror when I only realised that it was actually executed when I logged in again! All these when the platform did not hang, and the order was still in the pending trade panel.

I am looking for a new broker.
Preferably one with a segregated client account. Any suggestions?

[BPUser]

Originally Posted by jhansen

I am trying to decide if I should choose FXCM (MT4 account) or an account with PFG . I am not really concerned about using mt4 or pfg´s proprietary platform - and usd 5000 minimum is no concern either -
BUT: what are the spreads like when comparing the two? and the service... and the stability (disconnects etc.) ? I am sure there are some older forum members or even mods that have experience with either of these 2 - so please let me know your experience:-)
I would greatly appreciate some if the forum members here could share your experience:-)
thanks in advance!

FXCM will stick it to you every way they can. Look how much they spend on advertising. Why? Because they have to get a continuous supply of Newbies to replace the ones they've shafted. They use every trick in the book. Open an hour after trading starts on a Sunday so they can run the stops beforehand to stopping you paying in to meet an upcoming margin call so you get wiped out. They say they don't have a dealing desk - but read the small print. Stay away from them.

[Apogee]

Originally Posted by the novice

I have been with FXCM for a few years.
There have been bad reviews about them but I stuck with them because I liked their platform.
However lately I have encountered problems with them that caused me to lose money through no fault of mine.
Just this month, I had my pending trade passed over even though there was no gap and no news was released.
And again, this morning, when my trade was not executed as seen on my platform even though the price went in my direction.
Imagine my horror when I only realised that it was actually executed when I logged in again! All these when the platform did not hang, and the order was still in the pending trade panel.

I've encountered this with there system too and what happended was that my computer went on standby and when I "woke it up" I was looking at old information - even though the system was now refreshing with new data but only at the end of charts. So I never got updated on my end, while a limit order was hit on their end - so hours after the limit was hit I was still under the preception that I was still trying to get there.

I will conceed that there might be price manipulation with Forex brokers - but the trader must make sure that they are not reading fraud where none exisits and the best place to start an investigation is with your own data and if it doesn't jive with the brokers data then complain to the broker and see if they will resolve the issue.

I've been using FXCM for 2 months and havn't noticed any "funny business".

[BPUser]

There was an interesting thread either on BP or FFactory, I can't remember which. Attached is the essence of what triggered the discussion. Here is a link to a previous BP discussion:


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