FXCM today

Discussion in 'Forex Brokers' started by aiyah_mark_lah, May 27, 2009.

  1. hi,

    i would like to hear some feedbacks about FXCM. Are they more "trader friendly" now since they have changed to the ndd model ? How are the spreads etc ? Would like to hear from standard account users.

    Thanks very much

  2. Eric215


    I am a professional trader and I have used FXCM's standard account for around four years now. I actually manage several accounts through them and I have no complaints. Customer service is good, withdrawals are quick and easy, and the spreads seem competitive. Eur/usd 1-2, Gbp/Usd 2-3, and Usd/Jpy 1-3. I'm not sure what you mean by "trader friendly" but if you are a scalper they have an account with even tighter spreads but you instead pay a commission of $5 for 100k. I have a friend who runs a fund with this type of an account through them and he really likes it. I'm not sure of your account size but this account requires a 25k minimum. Also, I haven't noticed any change with there switch to no dealing desk execution, but I never had an issue with it before either. Hope that helps.
  3. You might want to check the NFA website for regulatory actions.
  4. Thanks cabletrader, you are very helpful as always, why didnt i think of checking the NFA website.
  5. No problem, being fair some of those complaints go back a few years so things may have changed, plus most of them relate to advertising.

    I'm probably biased as I simply don't like the firm or their staff, I felt they were feeding me any old bull just as long as I opened an account!

    Not much help really as you were looking for traders with an FXCM account, there's a few threads over on Forex Factory as well as one of their reps floating around.....
  6. Just noticed there is a debate going on about fxcm micro in another thread.

    Its ok, after looking at the nfa website and comparing to other brokers.....

    Anyway I just felt a an urge to open a new account, just for fun, I dont know why, maybe because it feels like having new toy. I am doing very well with my current brokers (oanda & mbt) so there no hurry to find a new one.


  7. Oanda & MB Trading......IMO, those are the two best brokers out there! I love MetaTrader, and can't wait for MBT to finish testing it!
  8. I have been with mbt since its inception days (forex wise), although I dont use mt4, I believe it is better to wait for them to weed out potential problems first, which can take many months even after official launch. Remember those times when mbt defended themselves against not providing mt4 and how it cannot be used for ecn model ? And now suddenly they are able to integrate mt4 into their platform. Its good that they are responding to what their customer wants, however I believe the usual caveats apply.

  9. cabletrader is an Oanda employee (or at least an Oanda fanboy) so take his posts with a grain of salt. Check his post history for confirmation.
  10. lol, not very observant are you 'powerfade', I'm about the only one in the thread who hasn't mentioned them :D
    #10     May 28, 2009