FXCM sucks. I am sick of slippage in fills.

Discussion in 'Forex Brokers' started by midlifeguy, Mar 9, 2007.

  1. They hit a stop and fill you several bips lower despite having large spreads on most pairs. I want to change.
    Can someone recommend a place where I can trade FX
    on a MAC that has the following:
    low spreads
    no slippage
    great customer service
    pays interest
    nobody that fights you when you question things
    reliable software
    no stop hunting

  2. You could always trade FX with IB......
  3. Surdo


    Trade Fx Futures on GLOBEX if you want NO more BS.
    EURUSD, GBPUSD, USDJPY, & USDCHF are the only liquid pairs.

    el surdo
  4. IB Supports all of this AND it will run on a MAC
  5. CADUSD and AUDUSD futures are also liquid.
  6. Surdo


    Right you are!

    e s
  7. Do you think these firms like FXCM purposely seek out stops? My beef is that if they have a large spread on a pair, then I shouldn;t have 5-6 bip slippage.

  8. Were you trading the NFP release yesterday when this happened?

  9. traderob


    I got this from FXCM today. Looks promising

    Dear Client,

    Effective March 11th, 2007, your FXCM Trading Account will be upgraded
    to our new No Dealing Desk clearing service.

    The No Dealing Desk service allows FXCM clients to trade using rates
    provided by top-tier banks through the convenience of your existing FX
    Trading Station. Benefits include:

    · Spreads as low as 2 pips
    · Earn interest on all margin levels
    · Hedging capabilities
    · Rapid execution, even during news announcements
    · Ability to place orders inside the spread
    · Competing rates from multiple banks
    · No price re-quotes
    · No dealer confirmation

    Execution Changes

    Under the No Dealing Desk system, bid/ask spreads may fluctuate,
    depending upon prices provided by individual banks. Spreads may be as low as
    2 pips for certain currency pairs during active market hours when there
    is greater liquidity in the market, and sometimes wider, such as during
    the late US afternoon session when there may be less market
    participants and therefore less liquidity.

    Since your trade execution is dependent on execution offered through
    the banks, FXCM cannot provide a no-slippage guarantee. (No-slippage is
    provided with our fixed-spread option under normal conditions.) After a
    stop-loss or stop entry order is triggered, the order will be executed
    at the next best available market price provided by the banks; this may
    involve slippage.

    This upgrade has been made available to you because of the advantages
    described above. For more information about FXCM's No Dealing Desk
    option, please visit: www.fxcm.com/dealing-options.jsp.

    Please contact us if you have any questions about this new service, and
    a specialist will be more than happy to help you. You can reach us via
    e-mail at sales@fxcm.com, via live chat from our website, or via phone
    at (212) 897-7660. You may also access our international toll-free
    numbers from this link: www.fxcm.com/contact-fxcm.jsp.

    Best regards,
  10. pma


    Surdo-I agree 100% on trading currency futures on Globex. I cannot for the life of me know why ANYBODY would deal with a typical FX scam broker.
    #10     Mar 10, 2007