Stay Away From Fxcm

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1

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FXCM�5: Welcome to FXCM’s Live Chat Feature. How may I help you?

duc pham: i need to close an open trade

duc pham: b/c the fxcm broke

duc pham: my trade went from possitive to negative now

FXCM�5: ok you need to call the trading desk

FXCM�5: (US ONLY): +1 866 600 FXCM (3926)

duc pham: being more negative

FXCM�5: to close your trades

duc pham: i call

duc pham: no one pickup the phone

FXCM�5: wait

FXCM�5: the bad tick is affecting all the micro clients

FXCM�5: we have a substantial number of micro accoun tholder

FXCM�5: you must be patient

duc pham: my account begin run out b/c it not my fault

duc pham: im holding the phone for 10’’ already

duc pham: are u telling me just let my acount run out the money

FXCM�5: well what’s going to happen is that the micro division is goign to reset the trades

FXCM�5: beforethe bad tick incident took place

FXCM�5: i highly suggest you to look at the micro division’s website

FXCM�5: to get the latest update on yoru account

FXCM�5: Forex Trading Micro Lots | FXCM Micro

FXCM�5: thank you

Chat session has ended.

take a look at picture detail, my traded went from possitive to negative, and the stoploss didnot work either, so they decided to let my account RUN OUT OF MONEY, customer service wont take the call.

2

Hello,

Now I JUST KNOW that I should not be involving myself in this discussion but, ALAS, I will try to make you feel better at my own peril!!!

Firstly: I can JUST IMAGINE how you feel. NO QUESTION. And you have EVERY RIGHT to feel that way.

That said: from what you’ve told us FXCM has told you that there was indeed a problem (which I’m assuming was ‘the whole truth and nothing but the truth’) and that they WILL ‘sort your account out’ so maybe just give them a little time.

Don’t get me wrong: the only thing I know about FXCM is that they advertise on Bloomberg TV. I’ve never had an account with them (not even a demo) so I cannot comment as to whether or not they’re a good and honest broker. The only reason I ‘jumped in’ here is because one of my BEST brokers (GCI) has had ALL MANNER of things said about them (and yes: they’re NOT NFA ‘certified’ or ‘compliant’ or whatever the term is) to the point where most people would not ‘touch the with a bargepole’ but I, personally, have never had a problem with them. True: customer support is ‘not what it should be’ but most of the complaints that I see are really very ‘emotionally charged’ and ‘over the top’.

From what I can tell from reading one of these threads (last night or the in the early hours of this morning funnily enough): they’re at LEAST an NFA ‘certified’ or ‘compliant’ (again: not quite sure what word to use here) broker which should at least give you SOME degree of comfort.

I know that none of this you want to hear right now. Sorry.

All I can say is this: keep us all posted as to what happens with this is all.

If they sort the problem out SATISFACTORILY then I ASSUME you will post details here and, if not, I KNOW you’ll post details here!!!

Best of ‘luck’ and sorry to hear about what happened. It IS frustrating I know!!!

Regards,

Dale. (forexbrokersonline.net).

3

FXCM had problems with the data feed yesterday (for me at least), and we (account holders via FXCM) got a mail shortly after where the issue was stated and they promised a roll back before the dataloss occured.

Quote from mail;
At 14:48:55 EST on December 11th, 2008, our rate feed, which is derived from bank prices, experienced an incorrect price tick on all currency pairs. This caused the trading platform to issue erroneous margin calls and incorrectly trigger stop/limit/entry orders. We are resolving this issue by rolling back client accounts to positions held at 14:48:54 EST. The rollback is expected to be completed by 23:00:00 EST.

They fixed the problem with my micro account, sadly this ment that I did not receive the 1000+ pips I got from this error. But thats all fair in my eyes, since it was some crazy limits i put on the trades just to keep them open :slight_smile:

Anyhows, everything is ok now.

Happy pippin!

Edit: Oh, btw. I do belive there was a great number of customers trying to call/mail/msn customer support last nite. Kinda answers why you didnt get throught and the CS person you chatted with was kinda hasty…
Explains it yes, excuses his/her hasty behaviour? No, but its understandable.

4

Dear FXCM Micro Client,

FXCM would like to apologize for any issues Micro clients may have experienced on the trading platform during the past 24 hours.

At 14:48:55 EST on December 11th, our rate feed, which is derived directly from bank prices, experienced a bad tick on all currency pairs. This caused the trading platform to issue erroneous margin calls and incorrectly trigger stop/limit/entry orders. This only affected FXCM Micro customers.

To resolve the issue FXCM returned client accounts back to their positions as of 14:48:54 EST. So that we could properly and quickly rectify the issue, we asked all clients to temporarily refrain from placing trades until the rollback was finished. This process was completed at approximately 23:00 EST.

At this time, the platform is functioning normally and clients can resume trading.

If you feel you have a position that was not properly rectified, please log a trade inquiry here: Portal - FXCM.com. The FXCM Micro team will review your account for any adjustments that should be made.

Once again, we hope you will accept our apology for the inconvenience and thank you for your patience.

Best regards,

FXCM Micro
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005
Forex Trading Micro Lots | FXCM Micro

RISK WARNING: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.

FXCM Micro and its affiliates assume no responsibility for errors, inaccuracies or omissions in these materials. They do not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM Micro and its affiliates shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This e-mail is not a solicitation to buy or sell currency. All information contained in this e-mail is strictly confidential and is only intended for use by the recipient. This communication was sent from a non-monitored alias e-mail account. All replies should be sent to <[email protected]>. Replies sent to <[email protected]> will be received by the FXCM Micro corporate e-mail system and are subject to storage and review by someone other than the recipient.

5

Well. Fair enough. And ‘jolly decent of them’ in my opinion.

havenoidea: I hope your account is ‘sorted’ to your satisfaction.

As they say in the ‘classics’: ‘sh*t happens’!!! (Unfortuanately).

Have a great weekend.

Regards,

Dale. (forexbrokersonline.net).

6

This is mean we cant do anything. Just waiting, till 23:00 EST. Bad service

7

We customers have to take responsible for their mistake. How sad
I feel ok, just experience about their service.
I only like their LIMIT ORDER b/c u can limit at any price you wanna, and also their statements compare to GFT

GFT had a good service, but statements is hassle

  • Account detail

they gave me a lost, and The reason for my lost is my stop loss was hit, HOW FUNNY

8

old thread

9

You do realize you are digging up a 7 year old thread right?