NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to customers

This is a discussion on NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to customers within the Brokerages forums, part of the Commercial category; Originally Posted by Pazienza Which posts were deleted? If they were mine they almost certainly were libellous and/or outrageously offensive, ...

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Old Aug 16, 2011, 6:49pm   #76
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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Which posts were deleted? If they were mine they almost certainly were libellous and/or outrageously offensive, so there was probably nothing untoward going on.
There were some posts deleted yesterday as part of the houskeeping. There have been NONE .... 0 deleted today.
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Old Aug 16, 2011, 6:50pm   #77
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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There were some posts deleted yesterday as part of the houskeeping. There have been NONE .... 0 deleted today.
Want me to help out?
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Old Aug 16, 2011, 6:51pm   #78
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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Well it's not like it never happens.
I want to know why you think there were posts deleted today.
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Old Aug 16, 2011, 6:54pm   #79
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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I want to know why you think there were posts deleted today.
Checked the thread, couldn't find 3 posts related to FXCM customers outside the US not being compensated. Tge posts are there now.
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Old Aug 16, 2011, 6:58pm   #80
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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Checked the thread, couldn't find 3 posts related to FXCM customers outside the US not being compensated. Tge posts are there now.
Posts 62 63 64 are all showing, i'm just going to check the logs again.
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Old Aug 16, 2011, 6:59pm   #81
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

Do you want to reopen to whole T2W partners/deleted posts discussion? Remember FXCM are the T2W preferred broker.
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Old Aug 16, 2011, 9:38pm   #82
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

Apparently investors and professionals didn't pay attention to this news , the stock rallied 8 % yesterday , and 4% today ! not to mention the stock didnt stop from going up last week , its like they think it is good news not bad !
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Old Aug 16, 2011, 9:55pm   #83
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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Apparently investors and professionals didn't pay attention to this news , the stock rallied 8 % yesterday , and 4% today ! not to mention the stock didnt stop from going up last week , its like they think it is good news not bad !
They appear to have got away with not repaying non US clients. Perhaps that was the good news. They have budgeted $16 million but so far have only racked up about $10 million in fines and compensation (according to their own estimates).
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Old Aug 16, 2011, 10:20pm   #84
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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They appear to have got away with not repaying non US clients. Perhaps that was the good news. They have budgeted $16 million but so far have only racked up about $10 million in fines and compensation (according to their own estimates).
even , it didn't stop from last week , at least it should stop from going up , instead it continued another 12 % . i remember Jason said something about some of Fxcm's partners reimbursing fxcm with the whole amount ...

Last edited by tar; Aug 16, 2011 at 10:33pm. Reason: from Justin to Jason
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Old Aug 16, 2011, 10:31pm   #85
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

Jason you mean?
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Old Aug 16, 2011, 10:33pm   #86
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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Jason you mean?
yeah sorry , Justin is MB's rep ....
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Old Aug 17, 2011, 10:26am   #87
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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Did the allegedly unfair slippage practices affect only US customers or all customers?
Ignoring this question is not going to make it go away.
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Thanks! The following members like this post: Shakone
Old Aug 17, 2011, 4:07pm   #88
 
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Did the allegedly unfair slippage practices affect only US customers or all customers?
Hi pboyles,

My apologies for the delay in reply. While I wish I could answer every question for you, I'm only able to discuss what is listed in the FAQ found through the press release http://ir.fxcm.com/phoenix.zhtml?c=2...037&highlight= . Any questions beyond this, and you will need to email compliance@FXCM.com

-Jason
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Old Aug 17, 2011, 4:08pm   #89
 
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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i remember Jason said something about some of Fxcm's partners reimbursing fxcm with the whole amount ...
That's correct. The settlement amount and the client price improvement credit will have no negative impact on FXCM's financial balance sheet because several founding partners of FXCM have reimbursed the company for the credit and the fines. As of June 30, 2011, FXCM Inc. had over $200 million in cash and no debt.

-Jason
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Old Aug 18, 2011, 9:00am   #90
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Re: NFA levies $2,000,000 monetary sanction against FXCM and orders refunds to custom

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That's correct. The settlement amount and the client price improvement credit will have no negative impact on FXCM's financial balance sheet because several founding partners of FXCM have reimbursed the company for the credit and the fines. As of June 30, 2011, FXCM Inc. had over $200 million in cash and no debt.

-Jason
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