FXCM Managed Accounts

[alan003]

Have anyone tried it?

[wespeakforex]

Don't try it!! FXCM is a thief. They are all con men. I wonder why someone would wake up in the morning with the sole aim of defrauding others. They (FXCM) have stolen all my money. Or how else can you explain a situation where I would place a Buy order and come back hours later to see it as a Sell order - when price is going up. At times when I place a Limit (Take Profit) I wont see it again, only to discover that price actually reached my predicted value but has now reversed.
If they can do that to a live trader you can wonder what they would do in their Managed Accounts. If you want to LOSE YOUR MONEY then let FXCM manage your account for you.

[markofrespect11]

Your account of trading with FXCM doesn't even make sense nor does it seem like you are talking about their managed funds. I actually am invested in a fund with them as well as trading my own account. I have had a good year with them, up more than 15% on my account for the managed fund. And since they make their real money only when I have made a profit, I really don't think they have any incentive to rip you off. I spoke to someone who was very helpful before I invested - the best way to decide if its for you.

[Benjimang]

G'day all,

I too had some issued with FXCM messing up orders or not having my targets or stops adhered to. I contacted them through customer support and had to go through an audit process. I had my money (and profits) returned to my account, and was happy with the whole service. This is inconvenient, I know, but not fraudulent. I have stopped trading with FXCM for unrelated reasons.

All that said, placing a 'Buy' and returning to see a 'Sell' is quite alarming. Never heard of it happening before. Did this happen through the dealer desk, or through the 'no dealer desk' option? Some say that successful traders can start to be disadvantaged by dealers interfering with orders as they are placed or closed, but this shouldn't be an issue with a managed account.

With a managed account, they trade your money, take some of the profits and pass the rest on to you. It should be in their best interest to be profitable. That way, they keep making money, and you will continue to invest with them as long as you see some too.

-Benjimang

[LasVegasForex]

Originally Posted by wespeakforex

Don't try it!! FXCM is a thief. They are all con men. I wonder why someone would wake up in the morning with the sole aim of defrauding others. They (FXCM) have stolen all my money. Or how else can you explain a situation where I would place a Buy order and come back hours later to see it as a Sell order - when price is going up. At times when I place a Limit (Take Profit) I wont see it again, only to discover that price actually reached my predicted value but has now reversed.
If they can do that to a live trader you can wonder what they would do in their Managed Accounts. If you want to LOSE YOUR MONEY then let FXCM manage your account for you.

Maybe you are just among the 95% that fail and need a scapegoat...:eek

I get so sick of people blaming their broker for thier lack of ability....
This is what children do...

[wespeakforex]

I would advise anyone reading these posts to read in between the lines. A lot of Forex brokers are real Bastards. And many of their employees and/or Introducing Brokers come to forums like these disguising as satisfied customers and claiming that all is well. They are paid to do so, remember.
I have traded six consecutive times and have recorded 100% success and made a lot of pips. I guess FXCM say in me a formidable opponent to deal with. They knew if the Forex game were to played by the rules, my winning streak would continue and that wont be too good on their accounts. (I demo traded for two years before going live and I have proven my home-grown startegies times without number with considerable success.) I will still re-iterate my advise to anyone who cares to listen : STAY AWAY FROM FXCM, THEY ARE CROOKS. It is hard to win when the umpire is biased.

[LasVegasForex]

Originally Posted by wespeakforex

I would advise anyone reading these posts to read in between the lines. A lot of Forex brokers are real Bastards. And many of their employees and/or Introducing Brokers come to forums like these disguising as satisfied customers and claiming that all is well. They are paid to do so, remember.
I have traded six consecutive times and have recorded 100% success and made a lot of pips. I guess FXCM say in me a formidable opponent to deal with. They knew if the Forex game were to played by the rules, my winning streak would continue and that wont be too good on their accounts. (I demo traded for two years before going live and I have proven my home-grown startegies times without number with considerable success.) I will still re-iterate my advise to anyone who cares to listen : STAY AWAY FROM FXCM, THEY ARE CROOKS. It is hard to win when the umpire is biased.

well, I can assure you that I don't and wouldn't use FXCM, I am with interbankfx...as a client not an employee.

You have a right to be cautious, this is a lot like the gold rush of 1849 in California. More money was made selling picks, shovels and advice then was actually made on gold....

[markofrespect11]

As far as I can tell this thread is supposed to be about FXCM Managed Funds and not their regular trading accounts. I think it is important to differeniate between the two as they work completely differently. The complaints you guys seem to have appear to be oriented at the accounts you trade yourself. I would personally like to hear peoples opinions about the managed funds so if anyone else also have a managed account with them please post.

[halo3plz]

i'll help us get back on track... i hope!

fxcm sentiment aggressive fund has an average monthly yield of about 11%, with a max drawdown of 3%. it says this is live results. this looks too good to be true in my opinion but i hope for just once that we have found a good managed program. it looks like this fund has been available for 3 months.

back to the first post i guess, has anyone used fxcm managed?

[olliebrooke]

I'm keen to get started with the FXCM agressive fund. I've researched the Forex and know enough to know I don't have the patience or discipline to trade full time.
However, based on the fact that traders can trade using solely technicals and the fact that computers/software would be much much better at interpreting the data it makes sense that a software managed fund could perform excellently.
However, to alleviate my wife's suspisions I'd be keen to hear some feedback from some of the more experienced users on this boards. I'm not keen to hear more rant from users with only a couple of posts, I would like to hear from the dudes and dudettes who are familiar with the markets and have a bit more experience to add some weight to their posts!