Caught FXCM Cheating Virtually 15 Minutes Ago

safvan

Established member
515 34
I was testing FXCM (thankfully not live money) but look what I caught. This virtually happened 15 to 20 minutes ago.

This is a EURUSD 5 min chart. FXCM seems to be lying when it says it does not hunt stops. I am not sure what to say. I was about to open up a 5 figure sum account with them.

I heard these stories from others but this is the first time it happened LIVE.

Ridiculous.









I urge other users to save these pics for their own use.

Thank you.
 
Last edited:

Trader333

Moderator
8,510 883
These are charts and not orders and not only that but demo accounts. No company involved in stop hunting would do so on demo accounts as it would be commercial suicide to do this on accounts with no money in them. I do think that when trading with any company that is not direct access it is wise to use a separate and independent datafeed. That way you can challenge prices that appear to be distorted and I know that others who have done this have succeeded in getting orders changed as a result.


Paul
 

dazzer_fx

Active member
120 17
I was testing FXCM (thankfully not live money) but look what I caught. This virtually happened 15 to 20 minutes ago.

This is a EURUSD 5 min chart. FXCM seems to be lying when it says it does not hunt stops. I am not sure what to say. I was about to open up a 5 figure sum account with them.

I heard these stories from others but this is the first time it happened LIVE.

Ridiculous.









I urge other users to save these pics for their own use.

Thank you.
It will probably be blamed a on a bad tick but to be honest it
seems to happen to FXCM often!
 

safvan

Established member
515 34
These are charts and not orders and not only that but demo accounts. No company involved in stop hunting would do so on demo accounts as it would be commercial suicide to do this on accounts with no money in them. I do think that when trading with any company that is not direct access it is wise to use a separate and independent datafeed. That way you can challenge prices that appear to be distorted and I know that others who have done this have succeeded in getting orders changed as a result.


Paul
1. Charts are formed due to orders placed at various prices.

2. FXCM is DMA so as they claim. How can they explain this?
 

safvan

Established member
515 34
You see I have had good success on instruments traded on regulated exchanges. I so wanted to open up a forex account to enter this industry but every time I click on that OPEN ACCOUNT button these ridiculous antics that forex brokers use pop up and I cut the window.
 

dazzer_fx

Active member
120 17
These are charts and not orders and not only that but demo accounts. No company involved in stop hunting would do so on demo accounts as it would be commercial suicide to do this on accounts with no money in them. I do think that when trading with any company that is not direct access it is wise to use a separate and independent datafeed. That way you can challenge prices that appear to be distorted and I know that others who have done this have succeeded in getting orders changed as a result.


Paul
So to clarify you beleive that if you trade with FXCM it would be safer
to choose a separate datafeed?
 

Trader333

Moderator
8,510 883
In my view they are not a true DMA broker in the same way that IB are unless things have changed. If they were then they would be unable to manipulate quotes because the nature of DMA means there is no middle man and all quotes come from the exchange.


Paul
 

dazzer_fx

Active member
120 17
In my view they are not a true DMA broker in the same way that IB are unless things have changed. If they were then they would be unable to manipulate quotes because the nature of DMA means there is no middle man and all quotes come from the exchange.


Paul
''FXCM's No Dealing Desk Forex Execution aims to provide transparent and fair execution. Every trade is executed back to back through an affiliate with one of multiple banks or financial institutions''

Seems like they think they are DMA?
 

safvan

Established member
515 34
In my view they are not a true DMA broker in the same way that IB are unless things have changed. If they were then they would be unable to manipulate quotes because the nature of DMA means there is no middle man and all quotes come from the exchange.


Paul
Paul can you recommend me a professional true DMA forex broker? Or is it really hard and no such thing exist?
 

MoonRocket

Well-known member
328 31
Paul can you recommend me a professional true DMA forex broker? Or is it really hard and no such thing exist?
Not Paul but here......
At FP Markets we are a DMA only CFD provider.
I'd be real careful before calling someone a cheat without first checking your chart against a DMA feed.
 

VielGeld

Experienced member
1,421 179
I believe Oanda is a DMA, and checking that chart out I didn't see any spike.

So just maybe...
 

15 min tlb

Senior member
2,057 98
Geniuses are making money with tight stops of 6 to 12 pips with fxcm.

The market was going up and the broker went to my price , closed my position and market was up 60 cents on oil within seconds.It happened on oil.
 

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