Shame On Fxcm

Discussion in 'Forex Brokers' started by jmoris, May 5, 2006.

  1. jmoris

    jmoris

    FXCM CLOSED THEIR DEALING , PUT EVERYONE ON MANUAL EXECUTION AND didn't FILL ANYBODY FOR THE PAYROLL NUMBERS

    TO PROTECT THEIR ASS THEY didn't OPERATE IN AN ORDERLY MANNER

    THE PLATFORM SAID - WAITING FOR THE DEALER - ALL MORNING , AND THEIR answer WAS , WELL THE MARKET IS VERY ACTIVE NOW ,

    SP WHAT THAT THE MARKET IS ACTIVE , YOU ARE SUPPOSED TO FILL PEOPLE

    THATS WHY WE TRADE , ACTIVE OR NOT , LET PEOPLE PUT ON TRADES , THIS WAS THE MOST DISGUSTING THING I HAVE EVER SEEN FROM FXCM

    YOU CANT DO THAT TO PEOPLE , ITS NOT LEGAL , TO PUT YOUR TRADERS ON MANUAL EXECUTION AND NOT FILL THEM BECAUSE THE MARKET IS ACTIVE ,

    STOP PROTECTING YOUR ASSES AND BE HONEST , WITH ALL THE ADVERTISEMENTS AND GUARANTEED FILL ADVERTISEMENTS , IT SEEMS LIKE FALSE AD

    FEEL CHEATED
     
  2. JayS

    JayS

    Have you tried using the futures? If you don't trade very small lots it could be something to look at.
     
  3. jmoris

    jmoris

    No I never tried trading futures , you mean the currency futures ?

    Is that the CME futures ?

    How different is it from the Spot

    thanks buddy
     
  4. dealer

    dealer

    1) Given that FXCM is a sponsor on ET they should respond in a timely manner.

    2) If you feel you have a grievance and FXCM's action were contrary to the advertising claims and you can prove that other dealers did not subject their users to the same restrictions then you may have cause to contact the NFA.

    Did users of other platforms (CMC, GFT etc) experience similar problems? There were no such problems in the interbank market.
     
  5. u can trade any news announcement with ib cme/globex currencies futs without any delays or/'n'problems with fills'n'platform freezin'.

    open an acct'n'see for u self
     
  6. jmoris

    jmoris

    Everyone was able to put on trades except for a few profitable people , that know what they are doing , its called profiling , and if they feel that they dont like the way you trade they put you on manual execution , so that you cant profit from volotile markets .
    That is not fare
     
  7. This just proves the point which I trying to make on few threads. Unless, someone has a specific/weird reason to trade spot fx (some weird currency cross), CME currency futures are the way to go. They tick identically to spot fx, and you have a centralized/regulated exchange where you can trade any way and any time you want. Everybody was expecting around 200K on NFP, and all of a sudden 138 came in, it is shameful what FXCM did, but most should not be surprised.

    Another thing which attracts people to forex is mini lots. Which is fine is you want to get a feel of what it is like tot trade with real money, but as soon as you can trade at least 1 standard lot, you should switch to currency futures. On top of everything, futures are cheaper to trade than spot fx.

    The good thing for people who are addicted to forex is that CME and Reuters joined together to open a centralized spot currency exchange on globex. It would come live early next year.

    Keep you mind open, explore other ways to have more value for you hard earned cash.

    Regards,
    redduke
     
  8. jmoris

    jmoris

    Correct me if I'm wrong please , but isn't the futures a bit more dangerous then spot , i heared it moves a lot faster then the spot and there are no stops ?
     
  9. No, it is not. I would say that forex is one of the most dangerous products because it is not regulated. In any case, before trading a product live you need to know all of its characteristics. They tick the same.
     
  10. ddunbar

    ddunbar Guest

    Well, I'm looking at the EuroFX and the Eur/USD Spot right now. They don't seem to tcik the same to me. Plus the futures has a 35+ pip premium over the Spot. Though, if you trade with IB, the margin for the Futures and Spot is basically the same. But that'll change sometime next month when IB lowers their margin. I'm guessing that they'll go from 50:1 to 100:1 or more.

    I haven't had a problem with actual trades in FOREX. And when Reuters and CME start that new centralized "exchange" next year, it'll be even better.

    Spot Forex is where it's at, IMO.
     
    #10     May 5, 2006