hi I am new here and I want to ask you guys something.
I want to take FXCM for example. they have many many units in many countries worldwide. my question is, why?
I mean, let say I want to be under the US regulation. why there are FXCM of other countries that don’t even have a regulation? just as a support? or is there something behind that? I do not live in a country with a regulation by the way.
this all thing sounds too suspicious to me, and I don’t really understand the concept behind that. if this is just the support, can I just choose the regulation? could it be less safe in any way?
thank you for your support and sorry about my bad English.
:57:
Well to be honest a Forex broker needs to be Regulated in some country and not all. More than being regulated it is the trading conditions and the overall customer experience that would matter to me.
Additionally safety of clients funds in the form of a 3rd party guarantee would be just outstanding
I have seen some top broker and just their customer support did not turn up after waiting for 1 hrs
so you basically tell me that I should find the best costumer support and conditions that suit me best no matter the country they are located at?
shouldn’t all FXCM units provide the same service and same conditions? after all they are all under they same company name…
I understand now that the regulation doesn’t matter but I don’t understand why should I choose FXCM UK over FXCM Taiwan or FXCM Lebanon or any other FXCM service. if the regulation is the same why do they have so many websites? I bet the support is better in some countries but what about the conditions? can they be worse even if we are talking about the same company? each of them have its own desk?
FXCM has clients from all over the world. While it’s not feasible for us be regulated in every country where we have clients, we are regulated in the major financial centers of the world by the CFTC in the US, the FSA in the UK, the SFC in Hong Kong and ASIC in Australia. In addition, we have offices in more locations to provide our clients with local funding options and customer support in their preferred language and time zone.
You mentioned that you don’t live in any of the countries where FXCM is regulated. In that case you can choose which FXCM entity you would like to open your account with. Most international clients opt for FXCM UK, since you can then trade CFDs for oil, gold and stock indices which is not possible with FXCM US. When trading forex or CFDs, your capital is at risk. The Financial Services Funds Protection Scheme (FSCS) protects FXCM UK clients for up to £50,000 each in the event of broker insolvency.
Also, FXCM is one of the few forex brokers which is a publicly-traded company (NYSE ticker: FXCM). That means we are also regulated by the SEC in the US. This provides our clients with additional peace of mind, since we regularly publish details regarding our finances as part of our quarterly reports. Such detailed financial information is not readily available for other brokers which are privately-held companies.
If you have any other questions about FXCM, feel free to hit me up in the Broker Aid Station.
