True their unfair client treatment left many with empty pockets. I had account with them too and despite they're NFA regulated they do exploit shady broker practices especially for clients who know their business and focused on earning not gambling. Sadly, I switched to other platforms, offshore IC markets, Hotforex and former Alpari UK were my lucky choices.
Hi Xela, It's unfortunate you seem to have already made up your mind about FXCM (despite never having traded with us), but for the benefit of others reading this thread, I will respond to your comments. Before making such comparisons, it's important to understand FXCM's age and size relative to other forex brokerages. When FXCM was founded in 1999, we were one of the pioneers in what is still a relatively young and quickly evolving industry. As an industry leader regulated in multiple countries (while some brokerages are regulated in only one country or none at all), FXCM is subject to a greater level of scrutiny than smaller and less-regulated forex firms. Few forex brokers are regulated in the US, Europe and Australia like FXCM. We believe this additional accountability benefits our clients. That's not to excuse previous regulatory actions, but rather to emphasize how we actively work with our regulators to resolve issues and ensure the best trading environment possible for our clients. That's why so many traders continue to choose FXCM over other forex brokers*, because we strive to provide you with quality trade execution and customer support including here on this forum. * The stats above only show the amount of client deposits with our US entity. FXCM also has trading entities regulated in Europe and Australia. As of May 2016, our global customer equity totaled $633.2 million worldwide.
Please don't think me argumentative, but that view (and it is a "view", not a "fact") is based on not quite appreciating the difference between genuine brokers and counterparty market-makers who are pretending to be brokers. Genuine brokers are only too happy to have clients who profit consistently, because that ensures continuity of their own commission-income - they're not involved themselves in the outcomes of their clients' trades anyway. Whether you win or lose is an issue for counterparties pretending to be brokers but actually holding the other sides of your trades. No professional traders work under that kind of arrangement.
To be profitable client I think you need to make at least 1-2K lots monthly. You'd pay 20K$ monthly if charged 1 pip spread. With 0.5 pip broker markup it is 5-10K profit for them. For retail investors execution venue in 99% cases is broker. My broker Hotforex clearly states that in their ToS
I don't mean to be rude for the sake of it, at all. I'm afraid there just isn't a way to say this politely, but you have absolutely no idea what you're talking about.
No - you didn't JUST do that. You also said "for retail investors execution venue in 99% cases is broker". And that's nonsense.
I do trade with binary options and forex. In Binary i trade with FMTRADE, with Forex, i go with ITRADER https://www.itrader.com/ ..