Hi their I went with FXCM on weekend margin call with 1-200 leverage and I went to negative balance with no protection and now they are threatening me to go to court the negative balance more than 60k and they after me for more than two years and I paid 50% and can not pay more any idea what to do
Read this then report them
https://www.fca.org.uk/search-results?search_term=Fxcm
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I did but they are the original FXCM
Then read the T&C’s and see what you’ve signed up for.
If they say that you agree/are liable for negative balance, thats what youve signed up for.
If you’ve been given 200:1 leverage I doubt youre with the real fxcm.
Whats their email address/website on your records?
No they are not we checked with FCA
Where is the firm based?
Uk based company
Get a lawyer
Blackduck
UK-based brokers must be registered with the FCA. Whether you trade forex with them via CFD’s or spreadbetting their FCA registration will prohibit them imposing a negative balance on your account, so you can never lose the money that you have deposited due to market fluctuations.
If they are UK-based and don’t have FCA registration they haven’t got a leg to stand on.
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