My name is David Waring and I am the Managing Director in charge of Business Development here at FXCM. I came across this post and would like to address the community here at Elite Trader with a response to make sure that both sides of the story are properly represented. Let me start by apologizing for what seems to be an accurate description of FXCM's lack of quality customer service as it relates to the opening of this account and then the lack of service bbmat received when chatting with us to question the execution of one of his trades. This is not the level of service that we strive to provide and I fully agree with the statements below referencing the lack of quality service. I have spoken to each of the reps involved with the PropFX division to figure out why this problem occurred and what we can do to make sure that it does not happen again in the future. From these conversations it seems that what this issue comes down to is a lack of staffing for the PropFX division specifically. While all of our reps are familiar with and well equipped to handle issues which occur on the main FXCM retail platform, as the PropFX platform is a specialized division for professional traders only, there are less staff devoted to servicing it. What this does not mean, is that this is an excuse as FXCM pledges to support all of our products on a 24/7 basis. As a direct result of this post, I have upped the staffing devoted to the PropFX platform so we can ensure that we have 24 hour coverage even when specific staff is out on vacation, etc. In regards to the trade in question, our records show that this trade was executed flawlessly. The PropFX platform, a Currenex based platform, receives price feeds directly from 10 tier-one banks giving professional traders direct access to interbank prices in a best bid/offer format. For those familiar with stock trading, this is the forex equivalent of level II trading. During Friday afternoons, specifically near market close at 5pm EST, liquidity can be sporadic. The prices which may print from one provider to the next can vary as a result of this and during these times prices can vary between providers significantly. I would like to stress here that FXCM does not control the prices on the PropFX Platform. Even if we wanted to there is nothing that we could do which would affect a position one way or another especially from a stop running standpoint. In addition to the above, in this particular case if you check Bloomberg and/or S & P Comstock's price feed closely you will see 164.20 offered on both these third-party feeds as it was on the PropFX platform. Please also note that these charts are the ones recommended by FXCM for traders using the PropFX platform and not the retail price feed charts such as eSignal. We have attached them below and please note that the Bloomberg Charts are depicting 4pm CST / 5pm EST. The reason an adjustment was provided, despite the correct execution on the account, was due to the unsatisfactory experience with our service. The online forums such as Elite Trader play an important part in the way that the portrayals of firms like FXCM are developed as individuals are given a voice which, before the internet, was not available. FXCM feels that this is an important strength of the internet which our users are leveraging and thus we take posts such as this one very seriously. While we will not address or respond to every individual complaint via the forum, I will post to clarify any misconceptions that might exist or when I feel the community would benefit from a response by being shown another point of view. In the future, feel welcome to address complaints or questions which require a higher level of attention directly to me via email, email@example.com, so we can resolve them together as effectively as possible. Sincerely, David Waring Managing Director FX Business Development Forex Capital Markets LLC 32 Old Slip, 10th Floor New York, NY 10005 Tel (212) 897-7660 Fax (212) 897-7669 Email: firstname.lastname@example.org ______________________________________________________________________________ FXCM and its affiliates assume no responsibility for errors, inaccuracies or omissions in these materials. They do not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM and its affiliates shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This email is not a solicitation to buy or sell currency. All information contained in this e-mail is strictly confidential and is only intended for use by the recipient. All e-mail sent to or from this address will be received by the FXCM corporate e-mail system and is subject to archival and review by someone other than the recipient.