Jason why have the people who were involved in this abhorrent breach of customers trust all not resigned? Do you honestly think that any customer of yours can have faith that you wont simply just repeat the fraud you were caught carrying out?
Surely you're personally ashamed to be associated with a company who would carry out this type of activity and still employ the people responsible at the very top... to this day?
Trust is very important for forex traders whether it be related to trading execution, safety of funds, or any other area, and we have always taken steps to be as transparent as possible and lead the industry in transparency. If an important issue comes up, we address it head on and do not disappear as you can see some of our competitors do when difficult and potentially embarrassing issues arise.
As of the latest numbers, traders hold
$1.264 billion in client funds with us, and it's important that we maintain an open dialogue to address these issues. That's why in 2010, when this issue was originally discussed with our regulators, we updated our system to provide price improvements for all order types, and our clients have benefited from receiving price improvements in the years since.
FXCM is currently one of the only firms in the industry to give price improvements on market and limit orders, and we look forward to the FCA's thematic review to address concerns we have had during the past several years, since our clients have received the benefits of positive slippage and while traders at some other brokers have not. It's a question every trader should pose to their broker.
Our goal in providing a transparent and honest system is also what led us to launch No Dealing Desk forex execution which we believe gives traders a more fair and transparent system compared to a dealing desk platform. While there have been bumps along the way addressed with our regulators, the transparency of the record keeping of our system is what allows our regulators to monitor our trade execution to ensure fair trade practices, and we look forward to the same standards being applied across the entire industry.
