Hi guys,
I am considering opening an account with FXCM. Everything I was looking for in a broker, I have found it with them and I am very impressed by their platform that comes with an amazing charting software called Marketscope 2.0. It allows making templates for your strategy the way you like it.
So I was wondering if anyone here knows anything about FXCM, I would like to hear that from you and I would appreciate it very much as well.
JRasul
Hello, jrasul
If you have been investigating forex dealers (brokers), you have probably noticed that complainers are everywhere. And people who have NOTHING BAD TO SAY, say nothing at all. It’s human nature.
People who are dissatisfied tend to rant and make accusations. People who are content, become complacent and don’t even bother to join the conversation.
So, if you Google FXCM, or if you do a Search of FXCM here on this forum, you will be swamped with all the complaints, all the allegations, and all the rumors that the malcontents have posted. Take all that for what it is. Half the people who write that stuff couldn’t trade baseball cards.
FXCM is a very large U.S. forex dealer — 5th or 6th largest in the U.S., as measured by Adjusted Net Capitalization. Accordingly, they get a lot of attention, a lot of comments, a lot of reviews, and a lot of ratings. And that’s a lot of opportunity for the complainers to mouth off.
So, in case you don’t hear it from anyone else, let me tell you what’s good about FXCM.
I’ve had accounts with FXCM for over 5 years, here in the U.S. and in the U.K. My U.K. account is about to be “repatriated” — forced back to the U.S. — thanks to the fascist regime running the CFTC. This is IN NO WAY the fault of FXCM. But, that’s another issue, altogether.
All of my experiences with FXCM have been satisfactory, or better. Some of my experiences with FXCM have been exceptionally good. I agree with you totally about the latest version of the FXCM MarketScope charting package. It is superb. And their Trading Station II is well-designed, stable, adaptable and user-friendly.
FXCM has competitive spreads, although they are not the absolute lowest spreads out there. Their spreads are set by computer algorithm, based on the best available interbank bid and offer prices. Accordingly, they fluctuate with the true market. But, you will find that overall they are quite stable.
Deposits and withdrawals are handled efficiently and promptly by FXCM. I’d be hard-pressed to suggest any improvement to the way FXCM conducts these transactions.
FXCM customer service has always lived up to my expectations. I can’t speak to how they handle disputed trades, because fortunately in five years I’ve never had a disputed trade with FXCM. But, on the few occasions when I’ve had a technical problem with my platform or charts, FXCM has responded quickly and efficiently to resolve it.
If you’re choosing from among U.S.-domiciled forex dealers, you won’t go wrong with FXCM, in my opinion.