I’m FXCM’s representative here on BabyPips, and I want to address the concerns you have raised.
We provide clients with No Dealing Desk (NDD) forex execution specifically to eliminate potential conflicts of interests between us and our clients. On the NDD model, FXCM offsets client orders one for one with our liquidity providers, so there is no reason for us to hunt stops. Your stops are also invisible to the liquidity providers who stream prices into the NDD feed, so it’s impossible for them to hunt your stops. In regards to the traders you mentioned who claimed their stops were hunted, please let me know where you read their comments, so I can follow up with those traders.
It’s important to us that our clients have confidence in our platform. That is why whenever a client expresses concerns about our trading execution, I try to follow up with them to determine what happened. Often it turns out that there was a misunderstanding by someone who is new to our platform that can be easily addressed. Here is a recent example on this forum.
Our goal is to provide our clients with the best possible trade execution. If you are a client of FXCM and have a question or concern regarding the execution of a particular trade, you can log a case for review by the Trade Audit Committee. If there was an error in our trade execution that negatively impacted our your trade, we will make the appropriate correction to your account.
If you disagree with the findings of the Trade Audit Committee, you can escalate your trade inquiry one of the government bodies that regulates FXCM worldwide. This is one of the advantages of trading through a regulated broker. FXCM is regulated by government bodies in the US, UK, Australia, Hong Kong and Japan. That means we are subject to a greater level of regulatory oversight than smaller brokers that are not regulated in as many major financial centers around the world.
I encourage you to do your due diligence and research us along with other brokers. Since we are one of the only retail forex brokers that is a publicly-traded company (NYSE ticker: FXCM), details regarding our business and finances are more readily available than for smaller brokers that are privately-held companies. That’s why traders have entrusted FXCM with $1.190 billion in client funds (as of our latest published data).
If you have more questions about FXCM, feel free to ask me in the Broker Aid Station.