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FXCM Reviews and Comments

I am new to forex and think the reviews of this broker is good enough for me. Hope to open a live account with them.
  31 Mar 2021  
FXCM's Customer Service is atrocious. They don't have an Service Level Agreement so I would not recommend anyone to deposit funds with them. Once received you submit your documents and then the only answer you get is "Your documents have been received and being reviewed " When you ask them how long this will take you are told "Your documents have been received and will be reviewed " I asked them if they have any brokers they said "Your documents have been revieced and will be reviewed" How many weeks, months, years do I have a wait for my documents to be reviewed. I just wonder if I would ever be able to withdraw funds from them. Don't go near them.
  30 Jan 2021  
I have been trading with a FXCM broker for about 3 years. I haven't seen any problems with this broker all the time, but I trade in the medium term from a week to a month and hold a position. Then either I withdraw the profit or again I open new orders. I use the services of this broker, because of high-quality execution of orders and a good story for analytics.
  23 Jul 2019  
Predicting the market price movement is less difficult. Thanks to their staff, I can consider better when it comes to enter a trade. Even those are their prediction, but it is much helpful than just to trade by ourselves.
  28 Feb 2019  
Have been trading with FXCM for several months by now. All in all I'm quite satisfied. I don't get huge profits so far, but I'm still learning the industry.
  9 Oct 2018  
It's definitely that broker I want to stay with in a long run. Company survived after swiss franc super extreme volatility last year caused by unexpected policy of Swiss National Bank. The number of FX brokers reported huge losses and bankruptcies but not this one. FXCM survived and keep on working till now. So it is a very good sign of stable company. In case when you have profitable strategy and generate positive returns, this broker is number one I would recommend.
  6 Oct 2018  
I am trading in forex with FXCM. It offers the particular conditions for active trader. I enjoy this special account! Here I get help from a manager trained in a special way, who provides an individual support presenting the products and tools of the broker, recommending techniques. Moreover he promises to promote my withdrawals and all processing connected with it. Real-time feedback from experts is available here. I can count on privileges as to commissions, which make almost 55 % less compared to the standard amount. Satisfied!
  2 Oct 2018  
The FXCM demo account is one of the best things about this broker. I've had lots of fun using it. I didn't make any money of course but it's been a blast.
  12 Jul 2018  
It's well known company and has a huge amount of credibility. Don't read this bullshit about frauds and money withdrawal delays. Never ever within my experience I had problems with delays, off quotes or transferring money to my paypal or bank account. Just think how many people complain on bad service but lost money only because of their greed and fear? Broker works perfectly, trading platform is one of the best you can find among others and it is regulated
  15 Jun 2018  
Do your research! FXCM US and UK divisions have a long history of fines by multiple financial authorities and actions for fraud. They only survived the Swiss Franc margin call due to a massive hand out. Don't say you havn't been warned.
Mr Charisma   4 Feb 2019
FXCM has good trading conditions and always was a reliable broker. But now their reputation is more and more crushing down. A lot of problems with a platform and SL hunting made me change this broker to another one. Fortunately, I found really good ECN broker and now my trading are on the next level. If you are looking for a broker that you can trust with your money, I am ready to help.
  9 Jun 2018  
What Broker are you using and which one can we trust?
Alton   21 Jun 2019
Would you please let me know the next good broker, you mentioned. I have not traded with FXCM or anybody else but would love to know the best and fair one.
Abdul Qadir   26 Dec 2019
Very disappointed of FXCM after regulators revealed some sort of scam with liquidity providers made by broker. You can find information on internet about this fraud. Mostly all liquidity providers had no access to interbank liquidity. Thus, fxcm has provided fake information. FXCM had a share and mutual interest using such a bad practice. No Tier-1 liquidity providers were found at all. Since that, all US customers were transferred to forex.com. I don't know if there is some way to work with new company... However, fxcm is not that good firm as it was for so many years. This is fact!
  20 Mar 2017  
I agree that this Forex trading platform is easy to understand and its customer support is helful. So, if you know how political and economic events in different countries affect the price of the currency and your trading opportunities, you can count on success within this broker. It offers the large leverage level so if there is no amount needed to trade I still can deal. This broker offers really good trading conditions. There are no stop and limit restrictions on popular indices here so I can take advantage of market volatility.
  3 Jun 2016  
I don't trust this broker. had many problems with them that's why I stopped trading with them.
  11 Dec 2014  
This broker bet against your trades
  8 Jul 2014  
i using fxcmplatform a year it's really a great platform to me i have had earn many money es dax futures my favor
  23 Jun 2013  
I have not had much problems with FXCM , customer support is quite good and helpful. Many traders are worried about the deposit withdrawal, I consider they are very fast with. Nevertheless, they have minor problems with entry set. Else, they some problems with slippage, once while trading with another broker I have noticed my SL hit on FXCM and hasn't with the other.
  14 Jun 2013  
FXCM is properly regulated forex broxer. I think they are the best. The reasons are evident. A trader has to pay a price for Forex in the United States in the restrictions placed for the regulations but FXCM is absolutely safe and trustworthy. Besides they are well known and stable. The have everithing a trader needs.
  3 Jun 2013  
This whole FX market is a magnificently tragic disaster if you are a US trader. Dodd Frank killed our ability to use competitive leading foreign brokers, for added misery they then killed our ability to trade precious metals...at home (I am not an ECP, and no one I know is either). Well at least the miserable choice of brokers we were left with included 1 or 2 seemingly reputable ones. Now we read that the biggest US broker has been screwing its own folk with slippage for god knows how long...and fined $2 million by the NFA for doing so. Thank you FXCM!
  16 Apr 2013  
I transferred funds from my U.S. account to another country. Almost three weeks later and they are still not there. Rang fxcm and the phone rang off the hook for minutes. Worried about my money. They say they have mistaken my account number. Think I will close the account.
  19 Mar 2013  
Fxcm is easy to use. Since last year i trade, no problem with system.
  15 Sep 2011  
When you have a good gain on MT4 they cancel it by a " auto account sync" and tell you " your trade did not work" you have to check your trades also on trade station.
It is a good broker if you like.... surprises

  8 Aug 2011  
If you want to lose your money go with them. You're gona have plenty of disconnections on the platform and sometime just before the week end without having the possibility to close your position with the hot line. Repeated disconnections and important slowing down on the platform or false error messages won't let you close your trade with profit but with huge loss! Sometime your trades won't be taking into your account and after a disconnection you will find your account with a huge position. I just lost all my money with them and I really hope they're gona pay for all the tricky and dirty things they did, false trades and manipulation of price to put the position on margin call and close it.
  23 Feb 2011  
The Business Trial Group of Morgan & Morgan, P.A. filed a clas action lawsuit today against Forex Capital Markets, LLC (FXCM) (NYSE:FXCM) alleging fraud and racketeering by the nation's largest Forex dealer.

The lawsuit, filed in the United States District Court for the Southern District of New York (Manhattan Division), alleges that FXCM has bilked thousands of customers out of hundreds of millions of dollars using deceptive and unfair trade practices, including falsely portraying its Forex trading platform as a fair, transparent and true foreign currency exchange, when instead it is a 'rigged game' designed to systematically separate customers from their money.

The Plaintiff, William H. Sanders, of Muscogee, Oklahoma, brought the action on behalf of himself and all other similarly situated FXCM customers, accusing FXCM of fraud by misrepresenting itself as a trading platform that is free from dealer intervention or manipulation. Instead, Sanders alleges, FXCM uses a number of devices and tricks, including software applications, designed specifically to interfere with customers' trades.

The Complaint further alleges that FXCM engaged in a pattern of racketeering activity by collaborating with its software developers and programmers to develop a 'diabolical' software application that provides FXCM with a myriad of tools and system commands with which to interfere with customers' trades, including routing trades to 'slow' servers and sending false 'error' messages when customers attempt to close out profitable trades.

Finally, Sanders alleges in the Complaint that FXCM lured thousands of customers to its trading platform by promoting a 'demo account' which was touted as providing customers with a true market trading experience. Instead, he claims, once 'live' trading commences, FXCM deploys specially designed software to manipulate customers' trades.

Lead Trial Counsel Tucker H. Byrd, of the Morgan & Morgan Business Trial Group of Orlando, Florida, stated, 'We are proud to be representing Mr. Sanders in this action, which we believe will be an important step in bolstering accountability in an industry that has been largely unregulated since inception. We believe, as the Complaint alleges, that Forex Capital Markets, LLC has taken advantage of the trust placed in it by its customers, causing substantial financial harm to this group of people, and we are committed to working to recover those losses.'

FXCM is the nation's largest Forex Dealer Merchant. The company recently went public and trades on the New York Stock Exchange.

  10 Feb 2011  
Now that FXCM switched to No Dealing Desk it is much more decent. Keep your break even stops at at least 3pips to avoid a disappointment.
Relatively good liquidity for news trading. At the same time you might have a problem filling a 1M of something like GBPNZD in a flat market as they would only have 100K at quoted prices. Good customer service and a nice mobile platform.You can definitely find a better platform for scalping, but for something more long term the combination of the customer service,platform and more or less fair prices makes it a choice for me.

  31 Oct 2010  
they are good; so far I've had no problems. For the past three months I'm trading with them. I haven't withdrawn money yet ; I found them ok
  24 Jun 2010  
Trading forex is a game...it's gambling...you're not adding any value to anything in human life so quit complaining...if you can't afford to flush the money down a s***hole don't play with it...nobody owes you anything...including the brokers...take your chances and if you get lucky and come out ahead...god bless you...if you lose your shirt...stop expecting something for nothing
  8 May 2010  
I love this broker, it could be some better brokers, but i totaly love it i i will going to do bussnes in future, top execution, low spreads and moset important No dealing desk execution even for micro accounts. Its defenly my broker, good job FXCM.
  14 Apr 2010  
I have never had a problem with FXCM (recently moved my account with them to their UK branch to get out from under U.S. regulations), and they are still my broker of choice although I have accounts at 3 other firms.
  4 Apr 2010  
In reply to Sad Mom, FXCM used to be straight up about 2 years ago. I had a larger account and closed it about 6 months back due to deteriorating execution, it took me 4 months to get my money back...but I got it eventuall
  31 Mar 2010  
I should of never tried fxcm micro. I opened a account then when I needed to pull funds they emptied my account and now 16 days latter no check no funds. Cant get a reply through e-mail and they wont handle micro accounts over the phone. Just think I was going to switch to a standard account. YA RIGHT! Guess I get to go to small claims now.
  30 Mar 2010  

The FXCM group of companies (FXCM Group) is a leading provider of online foreign exchange (forex) trading, CFD trading, spread betting and related services workin since 1999. FXCM is regulated by FCA, ASIC, SFC, CONSOB, BaFin and ACP. The company offers trading Indices,...

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