Legal Action Against FXCM

[BlackBison]

Pretty much all companies push legal boundaries like this to increase their profits.. until they get taken to court and are forced to stop it.

Look up some of the famous biotech/medical scandals (EDIT: apparently the Ford example may not be correct so I removed it)

Brokers and financial companies though are really playing with fire though with these tricks, as once their reputation gets hurt by this kind of nonsense there's no going back..

Needless to say I wouldn't touch this company with a bargepole.

EDIT: Incidentally for a recent example Betfair have recently confiscated clients funds after 'abusive' behaviour by some of its customers.. they had a promotion in their online casino where all 'bonuses' STACKED! Someone obviously made a **** up in the office and likely got fired. Rumours were it cost them over £10M

They took back most of the winners money and locked their accounts etc. Totally outrageous, their small print supposedly puts them in the right. I bet they didn't refund the losers though

 

[arabianights]

Total year results for 2010 :

360 M $ in revenue

3178 Billion $ trading volume

Fxcm makes 0.011% from the trading volume , for Cable for example this equals to 1.8 pips ...

If Fxcm is really f*** its clients shouldnt Fxcm make more than this ?!!

http://ir.fxcm.com/phoenix.zhtml?c=238885&p=irol-newsArticle&ID=1534848&highlight=

Exactly. That says it all really!

It's actually a stunning endorsement of how efficient the FX market is

 

[arabianights]

Pretty much all companies push legal boundaries like this to increase their profits.. until they get taken to court and are forced to stop it.

Look up some of the famous biotech/medical scandals or even the great Ford exploding car debacle as a comparison.

Brokers and financial companies though are really playing with fire though with these tricks, as once their reputation gets hurt by this kind of nonsense there's no going back..

Needless to say I wouldn't touch this company with a bargepole.

EDIT: Incidentally for a recent example Betfair have recently confiscated clients funds after 'abusive' behaviour by some of its customers.. they had a promotion in their online casino where all 'bonuses' STACKED! Someone obviously made a **** up in the office and likely got fired. Rumours were it cost them over £10M

They took back most of the winners money and locked their accounts etc. Totally outrageous, their small print supposedly puts them in the right. I bet they didn't refund the losers though

The ford exploding car was basically leftie drivel by that **** Nader. As so many of these things turn out to be

Ain't companies that are evil. It's lefties.

P.S. I thought betfair caved in the end?

 

[BlackBison]

The ford exploding car was basically leftie drivel by that **** Nader. As so many of these things turn out to be

Ain't companies that are evil. It's lefties.

P.S. I thought betfair caved in the end?

Really? Sorry if I got that wrong, I thought it was true. Made sense to me that they would do that financially. The betfair example is definately correct though. It has just happened a couple of months ago. Just shows its not only trading businesses that are often part rotten

 

[arabianights]

yeah I remember it happening, I just thought there was some conclusion to it that didn't leave people massively out of pocket

 

[BlackBison]

Not that I have heard arabian. They got a slapped wrist from the advertising standards agency or something and that is all apparently. Unless something has happened in the last week or 2 that I don't know about..

 

[arabianights]

I only read about it on 2p2 so my memory may be faulty...