I apologize for not following up with you sooner about this, but I was out of the office during Christmas when you made this post and didn’t notice it until now. Your friend may have received his withdrawal by now, but if not, please have him send me a private message with his details, and I’ll be happy to follow up.
It’s worth noting that the latest publicly available data from the CFTC show that retail traders have entrusted more client funds with FXCM than any other retail forex broker in the US. In fact, the amount on deposit with FXCM is over 36% greater than for the number two broker.
The execution stats mentioned above are for all orders executed between September 2013 to August 2014 on our No Dealing Desk (NDD) forex execution model. Back then all FXCM accounts were on NDD, and we continue to offer NDD execution on all standard accounts.
In 2015, in response to demand from traders with smaller account balances, we introduced a new mini account option that provides DD execution and up to 400:1 leverage* for accounts with starting balances as low as $50.
We haven’t posted new stats since then, but if we do I can let you know.
[I]* CFTC regulations limit the leverage available to US residents to 50:1.[/I]
I think also noted with interest someday back that FXCM spreads did widen from0.6 to 20+ and back to below 1 in seconds. there is no doubt most people never so it, but I am waiting for FXCM to report their data to find out more. Its no wonder FXCM was fined for failing to report financial data by NFA
Lots of brokers do this, especially in times of poor liquidity. It’s not a scam, its a fact of trading.
Nothing to do with old, historic fines. Learn how fx works and study the facts before posting
Who knows maybe they still making some scams which no one is till know, even FCA or USA authorities …
What a stupid comment, you could say that about any company in any industry.
Don’t get me wrong, I owe FXCM no favours, but it gets my goat when ill-informed posts appear accusing ANY broker of scammimg appear here. They’re almost always from newbies who are looking for anyone to blame for their own failings. Either that or newbies who have been scammed because they signed up to a broker offering bonuses without carrying out due diligence on them
Yea, you do not read the article and you wrote a comment, because you saw i have few coomments and its look like I am a newbie…
FXCM made the scam between 2006-2010 yes, but FCA got suspicious and start the investigation at end of 2013… and at 2014 there is a final notice…
So FXCM made the scam [B]4 years long [/B] against its own clients making million dolars profit… they got the penalty at 2014…
So now one more time "Who knows maybe they still making some scams which no one is till know, even FCA or USA authorities … “” and there will be a penalty after 2-3 years for their scam from yesterday!
I am concentrated in Turkish Forex Brokerleri , as I see the for the same reason FXCM got fine, the turkish SPK mouth ago made fine to turkish broker ALB broker but not a million dolar fine just 8500 USD.
Well, if we’re going to use your logic we shouldn’t trade with any brokers as they may all be doing something illegal that they haven’t been caught doing yet.
P.S. I never said you were a newbie, you’ve been a member here since 2011 so why would I say that? I said its almost always newbies who complain about scam brokers.q
It’s important to understand that as an industry leader, FXCM is subject to a greater level of scrutiny than smaller, less-regulated forex brokers. We are one of the only retail forex brokers in the world that’s regulated on three continents and a publicly-traded company (NYSE ticker: FXCM) averaging $16.5 billion per day* in retail customer trading volume. We welcome this position of responsibility, and our retail clients who place 689,635 trades through us per day* are glad we do.
FXCM takes regulations very seriously and believe it is in the best interest of our clients for us to have regulatory oversight and transparency. That’s why we have over 80 employees in our compliance department as mentioned by our CEO Drew Niv in a recent earnings call. That’s not to excuse previous regulatory actions, but rather to emphasize how we actively work with our regulators to resolve issues and ensure the best trading environment possible for our clients.
The FCA action for positive slippage not being passed on prior to 2010 is a case in point. Perhaps you were unaware that FXCM reimbursed current and former clients in full for any positive slippage that was not passed on prior to 2010. Furthermore, the improvements we made to made to our platform back then mean that FXCM is now one of the only firms in the industry to pass on positive slippage to our clients in full for all order types and to make our execution statistics proving this fact freely available to all traders: Positive Slippage and Price Improvements - FXCM
[B]How do you feel about brokers that withhold positive slippage from their clients and slippage stats from the public to this day?[/B]
[I]* As of the latest publicly available data from January 2016[/I]
You can review FXCM’s historical spreads anytime you like by looking at a tick chart on Trading Station. The platform will also show you our live spreads, but you can see them here if you don’t have an FXCM account: Spreads Plus Commissions - FXCM
It’s important to note that on our No Dealing Desk (NDD) forex execution, FXCM offsets each client order one-for-one with the best prices quoted from competing liquidity providers. That results in tight competitive spreads. When spreads widen, it means the liquidity providers have widened their spreads, most likely due to a news event or trade rollover which occurs every weekday at 5pm New York time.
You can use the DailyFX Economic Calendar so you know when there is a scheduled news event: Forex Economic Calendar
