Any experience with fxcm.com?

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nein89

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Just as the topic inquires; do any of you do business with Forex Capital Markets? I'm fairly new to forex in general, but based on my experience with their demo account and research thus far, I'm tempted to start an account with them. Before I commit any money, however, I was hoping to find someone who's dealt with them in the past, and see what your impressions have been.

Any advice or other relevant commentary would be greatly appreciated. Thank you for your time.
 
nein89 said:
Just as the topic inquires; do any of you do business with Forex Capital Markets? I'm fairly new to forex in general, but based on my experience with their demo account and research thus far, I'm tempted to start an account with them. Before I commit any money, however, I was hoping to find someone who's dealt with them in the past, and see what your impressions have been.

Any advice or other relevant commentary would be greatly appreciated. Thank you for your time.
Click to expand...

My Advice is stay clear from them.....
Fill problems
Also you have loads of problems with fundamentals....
Stay away from them
Also very poor customer service
No auto exexcution of orders.
I have lost a lot of money with them due to poor execution
Take care
Happy trading
 
Quite the opposite in my experience - no problem with fills, execution, stops, limits or anything. Customer service isn't great admittedly (much like IB)- but how often do you really need it?
 
they aren't the best, the spreads are unimpressive to say the least, however, their news plugin is excellent giving you streaming market commentry it is really useful at keeping you up to date with all that is going on in the market, i haven't seen another broker (apart from refco which basically is FXCM) that offer a service as good as this. My advice is open a demo with them to take advantage of the news plugin but open a real account with someone else
 
rav700 said:
My Advice is stay clear from them.....
Fill problems
Also you have loads of problems with fundamentals....
Stay away from them
Also very poor customer service
No auto exexcution of orders.
I have lost a lot of money with them due to poor execution
Take care
Happy trading
Click to expand...

Problems with fundamentals, what does that mean, that you were in the market during NFP and blame your broker?

Like most brokers, they have entry orders, if thats what you mean by auto execution. They also have and API if you are more tech saavy.

Customer service with that firm is top notch, call them now and ask for a demo and ask about the market, they will be able to tell you must more than a CSR would.

Trader/God
A poor carpenter always blames his tools
 
Disagree. Been trading 15 years and know plenty of experienced traders who have opened an account with FXCM. None trade with them now and not one of them has stopped trading or 'blown up'- all of them are self backed full time traders.
 
Trader/God said:
Problems with fundamentals, what does that mean, that you were in the market during NFP and blame your broker?

Like most brokers, they have entry orders, if thats what you mean by auto execution. They also have and API if you are more tech saavy.

Customer service with that firm is top notch, call them now and ask for a demo and ask about the market, they will be able to tell you must more than a CSR would.

Trader/God
A poor carpenter always blames his tools
Click to expand...

You have your views I have mine....
If you have not had any problems with fxcm....may be you are the chosen one..
I have 27 clients in all who can show you poor execution remarks
not all are fundamental traders.....
Customer service is top notch good for you...

NFP...you talk like someone who has just started trading...
I trade NFP for a living my friend and I trade some hedge funds for a living as well
I have traded the market for 5 years at a stretch......
So only advise on your forum to assist other users and it is only a view....
May be of lately things might have improved with them.
My view .QUIT WHILE YOUR AHEAD IF YOU HAVE AN ACCOUNT WITH FXCM..... :)

Happy trading
Best of luck
 
Makes me laugh how people still go on about NFP as a big figure. I know FXCM still warn clients that for the 15 minutes or so after the figure to expect delays in execution and this is laughable. For the past 12 months it has been a nothing figure in fx. If they can't even understand that point or recognise a market changing what does it show about them?

(disclaimer - my knowledge of fx is non existant and I now fully expect the Katrina afffected NFP on Friday will cause the biggest volatility for 20 years!)
 
rav700 said:
You have your views I have mine....
If you have not had any problems with fxcm....may be you are the chosen one..
I have 27 clients in all who can show you poor execution remarks
not all are fundamental traders.....
Customer service is top notch good for you...

NFP...you talk like someone who has just started trading...
I trade NFP for a living my friend and I trade some hedge funds for a living as well
I have traded the market for 5 years at a stretch......
So only advise on your forum to assist other users and it is only a view....
May be of lately things might have improved with them.
My view .QUIT WHILE YOUR AHEAD IF YOU HAVE AN ACCOUNT WITH FXCM..... :)

Happy trading
Best of luck
Click to expand...

If you cannot afford to trade currency futures then maybe Oanda.com will suit you. Threads on T2W speak well of them.
 
neil said:
If you cannot afford to trade currency futures then maybe Oanda.com will suit you. Threads on T2W speak well of them.
Click to expand...

I am not the one you should be talking to guys.......I have got no problems with my trading.
It it the guy who opened the post that has.

I trade with finspreads and make a living and am happy now please leave me alone......
 
rav700 said:
You have your views I have mine....
If you have not had any problems with fxcm....may be you are the chosen one..
I have 27 clients in all who can show you poor execution remarks
not all are fundamental traders.....
Customer service is top notch good for you...

NFP...you talk like someone who has just started trading...
I trade NFP for a living my friend and I trade some hedge funds for a living as well
I have traded the market for 5 years at a stretch......
So only advise on your forum to assist other users and it is only a view....
May be of lately things might have improved with them.
My view .QUIT WHILE YOUR AHEAD IF YOU HAVE AN ACCOUNT WITH FXCM..... :)

Happy trading
Best of luck
Click to expand...

What broker do you use for trading NFP that you can recommend? Anyone who was trading it on last Aug 4th got slammed no matter what the broker.

Most firms aren't large enough to have enough liquidity to handle big moves. A large guy might not be all that you want but I can't imagine a smaller newer shop being better at all. Besides traders who insist on trading NFP shouldn't do it from a retail platform anyway.

Trader/God
 
I am afraid I completely disagree with this.

Firstly - NFP isn't a big figure anymore - look at it today - a 30 pip range after it, big deal.

Secondly if a firm can't cope when it is busy they should not be allowed to operate. What happens if it gets busy for some other reason, the platform can't help, the phone lines are jammed and so people cant close positions?

Why shouldnt a trader be allowed to trade the NFP anyway.

Finally as a point of fact I traded it when you mentioned and my broker was fine. I do know in August 2004 though that despite the figure being very weak and the euro dollar jumping 120 pips in about 20 seconds that FXCM took the euro dollar down 30 odd pips before it bounced. Why would an honest broker do that?
 
FXCM: Platform OK,
News plug in OK-Good,
Fills (sometimes lagg),
C.Support JOKE (but do we need them?)

What About Gain Capital?

And COESFX?

Give them a try.

And like someone post above use fxcm news plug in and trade on something else...or just stop liesten to others and try by yourself.

Best Regards to all REAL traders

FOREXHUSKY
 
I know RefcoFX and FXCM are sister companies but I have had an account with
RefcoFX and never had any issues... orders always got filled no matter what the
market conditions were and CS was 24/7.

I deal with GFT right now and so far I am happy.

I have heard bad things about FXCM and FXSolutions... re-quotes upon re-quotes!
 
bad rep

FXCM have a bad reputation for stops running. Not used them myself and they vigorously deny it in any forum its been brought up and they have a rep there. I like their platform but have only used the demo accounts.

AIU the relationship between refco and fxcm, refco have a stake in the company (approx 20%) but have no direct control. I think fxcm were keen to play up the relationship when Refco seemed the bees knees, but they are obviously even keener to lay the relationship down.
 
I have been with FXCM for almost three years now - personally, I give them top marks for execution, customer service, and their trading platform - I have never had any of the issues that are mentioned above. That being said, on the downside, for smaller punters the 10K lot size is still decent size, and there are only 20 crosses based on the 8 major currencies (counting the Kiwis as major that is!) - no emerging market, peripheral European, or other currencies.
 
how bout CMS FX

Hi guys,
How 'bout CMS Fx? I like the trading platfom VT. Still on demo though.
Any comment on trading with CMS?

Swin.
 
I declare that I am an IB for FXCM. I am happy with them. Their CEO took the trouble the trouble to contact me a few years ago when my association commenced. I have never had problem with fills, execution, stops, limits or anything. And neither have my clients and other associates that use FXCM.
 
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