FXCM UK

They don't care if you win or lose

I have wasted thousands of pounds on FXCM. Like probably close to 12,000 lost over the last year and a half. You'd think with throwing that much money down the toilet, they would try to help you be successful, but they don't. I think technology wise they are good, the spreads are good, the trading platform is ok - but whats the point of all that. This is a company that encourages you to fund your account with as much as as you can. And when you're 50% down.... 40% down.... 30% down.... and your savings are bleeding away before your eyes they just let it happen. It feels like they don't care if you win or lose. I even asked my rep if there's anything they could do to help me or any advice they could give or courses they could recommend to help me be successful - but nothing. It feels like they really don't care about their customers, I guess they're too big. Maybe my 12k down the toilet is nothing for them but its a damn big deal to me. So I don't recommend FXCM, I would find a broker that's going to help you be successful. That is not FXCM.

Dont waste your time

i have tried maybe 5 different brokers, and FXCM are by far the worst. They advertise a leverage of 100:1 but never give you that amount, its all hidden in the small print how much they actually give you, as low as 50:1 at times for some pairs, so they are giving half of what they advertise.

go with someone who offers more margin, and who doesnt change their margin all the time, even if you think you dont need it. FXCM make it very difficult to plan trades, just today I recieved a call saying they were raising the UK stock market requirement by almost TEN times because of the EU referendum in the UK .... TEN times. So, the trade I already had open may now be subject to problems because they are changing the margin so much. It just isnt worth the hassle, go with someone offering decent margins, so you dont have to every worry about it.

There have been other issues I wont bore you with, but they are my most hated broker, always causing trouble.