talk you down? i don’t think so. you should be paranoid. this industry is fraught w/ scams unfortunately. what did you expect? it is unregulated and FX is decentralized which means that any market maker (MM) can quote any price they want to their clients (w/i a common-sensical deviation from the current avg market price range of course, but far enough for the MM to be able to stop you out and take over your trade at a discounted price, mean while you paid the commission and lost the pips as well–that’s when they run the stops on you).
check this out: you are not gonna like it but that’s what the CFTC says: CFTC/NASAA Investor Alert: Foreign Exchange Currency Fraud
as a matter of fact, look what i just found at the CFTC when doing a search on FXCM: CFTC Press Release, June 27, 2006
FXCM paid $800K in commissions to an introducing agent named Gibraltar to put their customer’s $ w/ FXCM. it all ended up in court as said customers lost everything.
and on this blog Forex Blog | Forex Beginner | Forex Trader - The Forex Project if you scroll down or search for “Forex.com Fined For Cheating, Defrauding” you’ll find a post that explains why GAIN Capital/Forex.com was fined for defrauding customers.
actually here is the direct link: Forex Blog | Forex Beginner | Forex Trader - Forex.com Fined For Cheating, Defrauding
food for thought.