My bad Experience with FXCM

[fmtrader]

They have unprofessional untrained team members handling your data and transactions,
they don't have proper complaint procedures, their customer services is a joke.
I tried to fund my account yesterday by following a link one of their staff sent me; they took the money from my card and send me an email 10 minutes later saying they've declined my transaction; when i've enquired about this they've admited that the person who sent me this link have made a mistake and sent me a wrong link to a different website.

Now my card has been debited and i don't have access to those funds, that means i can't trade; I've sent them 2 emails so far and but no one bothered to reply and i even think they've me a wrong email address to write to.

I am considering filing a complaint to the authorities about the way they've handeled my transaction.

[wrtm_19]

Originally Posted by fmtrader

They have unprofessional untrained team members handling your data and transactions...
.

Well that clearly sucks!. Have you been trading before with them or this is the first time that you were going to fund your account?

[virtecs]

I've not heard much good stuff about FXCM. Personally I wouldn't go with anything other than Oanda...maybe IBFX, as those seem to be the brokers with the most consistent positive mentions.

Check out both. And honestly, unless you really know what you're doing, I'd suggest Oanda just because you can trade pretty much any lot size you want.

[fmtrader]

Yes i know it's discudting the way they handel their complaints and the way they treat their customers, fortunately this is the first time i trade with them; I'll definetly go and check other brockers specialy OANDA ; i heard good things about them so far.
Unfortunately i need to get my money first because they still haven't refund it back to my credit card.

[edz]

Originally Posted by virtecs

I've not heard much good stuff about FXCM. Personally I wouldn't go with anything other than Oanda...maybe IBFX, as those seem to be the brokers with the most consistent positive mentions.

Check out both. And honestly, unless you really know what you're doing, I'd suggest Oanda just because you can trade pretty much any lot size you want.

LOL.... forget IBFX they have bad off quotes and charge a conveniences fee for Debit Card deposits, as for FXCM they have been taking orders on MT4 knowingly that it has locked orders that you cant close. Bad boys!!!

NFA,CTFC will be knocking on their doors soon!!

Oh did you read on CTFC IBFX got fined 200k for letting personal details of traders get onto a google search...........LOL

Edzy

[phenix1]

I've been with FXCM for 3 years and I havent had a problem with them. Whenever you deposit funds just go straight to their website and do it from there. Everytime I deposit fund it's in my account in an hour or so.

[dallia]

I am looking for a broker and one that I won't be looking into is FXCM . I've seen too many complaints online to make think trading with them was a good idea. When people place FXCM hate comments in their taglines you have to wonder about how they treat their customers. For the fellow above I would send a copy of the email with the link to the CEO. You can also file with CFTC. A nice combo is to send a letter with the first page of the complaint form filled in. It lets them know your not playing around.

[Jason Rogers]

Hi fmtrader,

I ran across the post today. While I know that the situation has probably already passed, I would still like to investigate it for you or show you how to file a formal complaint if you would like to. Please send a private message to me through the contact section and if anyone else has questions, please do not hesitate to contact me.

Originally Posted by fmtrader

They have unprofessional untrained team members handling your data and transactions,
they don't have proper complaint procedures, their customer services is a joke.
I tried to fund my account yesterday by following a link one of their staff sent me; they took the money from my card and send me an email 10 minutes later saying they've declined my transaction; when i've enquired about this they've admited that the person who sent me this link have made a mistake and sent me a wrong link to a different website.

Now my card has been debited and i don't have access to those funds, that means i can't trade; I've sent them 2 emails so far and but no one bothered to reply and i even think they've me a wrong email address to write to.

I am considering filing a complaint to the authorities about the way they've handeled my transaction.

[mika123]

I haven't had good experience with FXCM either. Initially I had Micro account with them and I raised my concern that the spread is too high... sometimes 8 pips for EUR/USD... they said, Oh it's Micro account and during slow market hours the spreads are higher and if you want smaller spread open bigger account. Now I have Mini account with them and it's even worst... here is what is happening... When I enter a trade, first the spread is still high at least 3 to 4 pips in slow market hours (I trade in between 7:00 p.m. to 3:00 a.m., New York time). On top of that their system enters me into market 2 to 3 pips against me trade... so I end up losing 7 to 9 pips right of the bat...
I raised this concern and they said.. Oh no, it's your slow Internet connection... and I have 16 Mbps connection... the fastest available in North America and I have fully loaded Quad core processor PC with 4 GB RAM... now they are blaming it on my PC and Internet connection...

So, I'm done with them... please suggest any good broker (Market Maker) for a scalper like me... I trade EUR/USD mostly when both Eurpean and U.S. markets are closed

Thanks,

Mika123

[chinexex]

sorry mika about ur ordeal with unrelliable brokers. i would suggest you try fxopen. i think they are good and have what you need. they are some others like liteforex and marketiva but i will prefer fxopen.