I've never had a server problem, and all of my emails to them have been answered within a single business day. I have lost money, but it is not because the company is a scam, it's because I will admit that I am a noob and suck at trading. I traded with fxcm using their trade station II two years ago, order opening and closing were very good, order with tp level set got executed at that exact tp price. I trade millions of dollars in notational volume every month and still, no problems.
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The pattern often acts as a good confirmation that the trend has changed and will be followed shortly after by a trend line break. Once the pattern forms, a stop loss can be placed above the pattern for short trades, or below the pattern for long trades.
The investor would have earned an average annual return of The trader who entered a long position on the open of the day following a RIOR buy signal day 21 of the pattern and who sold at the open on the day following a sell signal , would have entered his or her first trade on Jan.
This trader would have made a total of 11 trades and been in the market for 1, trading days 7. The trader, however, would have done substantially better, capturing a total of 3, When time in the market is considered, the RIOR trader's annual return would have been That's quite a significant difference.
The same test was conducted on the Nasdaq Composite Index using weekly data, that is using 10 weeks of data instead of the 10 days or two weeks used above. This time, the first or inside rectangle was set to 10 weeks and the second or outside rectangle to eight weeks, as this combination was found to be better at generating sell signals than two five-week rectangles or two week rectangles.
In total, five signals were generated and the profit was 2, The trader would have been in the market for 7. This works out to an annual return of Regardless of whether a minute or weekly bars are used, the trend reversal trading system worked well in the tests Any indicator used independently can get a trader into trouble. One pillar of technical analysis is the importance of confirmation.
Given the risk in trying to pick a top or bottom of the market, it is essential that at a minimum, the trader uses a trendline break to confirm a signal and always employ a stop loss in case he or she is wrong. Reversals are caused by moves to new highs or lows. Therefore, these patterns will continue to play out in the market going forward. Watch for these types of patterns, along with confirmation from other indicators, on current price charts. I can tell most these people their problems..
If your scalping, your wasting your time and your going to lose. If your trading the news, prices gap and you can't get in on the pairs as it happens and it's a terrible idea anyway. If your trading with a micro account, you obviously shouldn't be trading forex anyway Is a few dollars really worth your time or even a brokers?
Forex is not a hobby and isn't for the weak minded. Their spreads are generally low given at least a standard account. All my orders are executed almost instantly. Customer service good, but can improve.
Love their mobile platform. I request funds and the transaction is completed usually less than a day. I highly recommend new traders stay away from forex and try the equities market first. I give FXCM 4 stars because they can improve like everyone. If anyone would of had a problem with FXCM, it would have been me, considering the amount of trading I've done with them.
My experience with FXCM has been, overall, very favorable. Trading almost daily on a part-time basis in the evenings and early mornings PST and Hawaii Time , I have finally reached the point where I am ready to quit my "real" day job and trade full-time. Having surfed and studied other broker sites from time to time, I feel overall that FXCM's educational and news sources are exceptional.
Otherwise, my calls to customer service are generally answered within 10 seconds to one minute, and the one time out of many when my withdrawal request was not honored within business days, two e-mails and a phone call settled the problem without any trouble. I too have had trouble with slippage issues with FXCM during volatile news release periods, but I am willing to accept this in exchange for their exceptional reserves and comparatively broad menu of services.
In sum, I have successfully ,worked for a number of employers over the past 30 years, including within the public and private sector, small businesses and Fortune companies alike, and I have found the relationship I have with FXCM to be superior than with the great majority of these other employers, in terms of reliability, adaptability, and opportunity.
I'm an early-intermediate trader when it comes to forex. Played with FXCM demo, now first day with live account. FXCM resources are much more comprehensive, and I'm happy with the service at this point.
I had no issues trading today even during news events. I love their charting software was using MT4 which sucks in comparison, and I'm not interested an EA at this time. Stops were properly executed. Courteous service helping me get account setup. All around I hope this continues because not having to worry about broker issues makes it more fun to trade.
Not sure if the no dealing desk is fully truthful, but I was on a dealing desk before and did ok as a novice , so either way I think I'll be good. I'm recommending this broker. I'll check in again every few months with experiences. I believe FXCM is simply the best broker on the market. I have tried a few others on this list also, ease of use, FXCM in my opinion beat the ones that I did test.
I have lost money, but it is not because the company is a scam, it's because I will admit that I am a noob and suck at trading. Their customer support is always friendly and helpful, even when you're only dealing with hundreds of dollars. Their trading platform is also awesome for being completely free. I will say that I'm disappointed with the removal of Stop-Loss, etc But they can't help that.
It's the regulators' fault. I am a professional trader and I also advise over 1, other traders with entry exit orders. I am actually shocked and surprised to read most of these posts about FXCM. If there is a real problem I would seriously like to know about it.
I traded with FXCM for several months. First, their customer support was very fast and efficient. Always a nice, knowledgable person on the othe end of the line. I got money out with no problem whatsoever. The funny thing was I had errors when I tried to exit trades from time to time and it ended up being why I quit them. Never knew if I was getting "played".
It doesn't make sence for a broker to try to drain your account. Anyway, too many of these losing trades where I knew what to do, did it, and got errored into a loss. That may have had something to do with the errors, I don't know. I'm not ready to say they were scamming me. I traded in FXCM before and i have no problem with them. Im planning to open again with a new account. I am very pleased with them, trading for several years now. I will stay with them. I rated 4 because there is always room for improvement: The trade then automatically closed me with only 18pips!!
I was outraged, and called them and they compensated me about 45 pips in return. Their services are good, but I suggest you to avoid their MT4 with Bostontech if you are doing high volumn until they fix all their problems.
So far, 3 uneventful no problems with platform or feed trading weeks gone by. I have not experienced any platform "freezing" at anytime,so far. I did notice some Posters have opinions about how I should trade or record experiences. Maybe they should contact JasonRogers and request their own test? This isnt a science experiment using Imperical data.
My past experience was not good. No serious complaints with current Micro environment so far. I have been using FXCM for over a year now and have had no problems at all.
They allways pay, have good spreads. If I was going to say something negative is that the trading software is requires a bit of power from the computer, and tends to hang a bit if you have a slow prosessor.
But this is a typical problem I have had on my old computer with any system e. So if your going to have your computer on studying the market, get a good computer and a good internet connection.
The broker isn't making any money on losing trades, it's just losing the money you deposited and traded on Bad trades! That is one of the main reasons I use fxcm, because they give people a fair deal.
So what's up then with the criticism on FXCM's execution in some other reviews? Actually, the only time that execution can be slow at FXCM is during news events i. One should, however, not blame the broker for the reduced execution speeds during such events because it is a natural thing that will occur at any broker. The reason for this is that the market becomes extremely volatile around major announcements and a huge number of orders is placed in a very short period of time since a lot of traders out there like to trade on news.
This results in possible slippage since your orders cannot always be filled as you planned under conditions of extreme volatility. As said, this can hardly be called a FXCM problem and it is more a general market issue. We would like to stress the fact there are much more strategies available then news trading so a good option could be to avoid news trading altogether also because it is very risky.
I love their trading platform. As for making money. Early on in my forex career, I overleveraged my account which resulted in several margin calls. I prefer to enter and exit quickly, but if I have to leave the trade open, I feel confident, I can leave my computer and let it do it's thing At least until you've proven to yourself that you consistently make small amounts of money trading at very low leverage, DO NOT TRADE at high leverage.
Start with very LOW leverage and come up slowly. If you are trading at low leverage with proper account management AND you enter a trend, there's no reason to sit in front of your computer. Let the trading platform do it's work and go about your daily. Here's a professional reasoning. I've been trading with FXCM for about two months now. They have been very good with answering my questions. Trades executed well with no noticeable slippage. Their response to executing withdrawls has been great, I recieve my checks within a week or so by mail.
I generally don't use market orders but limit orders to enter a trade so my trading techniques differ from most of the posts here.
The spreads are acceptable considering the cost per round-turn on commisioned based trading. Most of the people posting here are just venting their emotions. Some trade planning in advance may prove helpful especially on when to enter a market.
I deposited dollars to test with this fxcm. I have experience trading the forex for almost 15 yrs. I tested their platform and it worked good. I turned dollars into dollars in 4 hours. Next day when i traded, it just started to drop and drop and drop more.
Margin calls were hit, spikes out of nowhere. I used my other broker and it was going pips with fxcm it was pips at once. Beware traders from this broker. Oh, when you complain them about it they'll blame it on your bad Internet connection It's always in their favor FXCM's trading platform's are not the best. However using the stop loss and profit limit will get you what money you want and give you some security. I agree that the programs need to be better but FXCM seem to be working on updates and in the last three months I have noticed that it is getting better.
FXCM is definitely not a scam. FXCM a scam broker? If you want to know about this company go and talk to them, I've found them to be very professional, open and informative. I have been invited to their offices in Paris I live in France , offered free seminars with guest speakers, if your a newbie their online starter course is incredible value with tutor back-up 24hrs a day.
Have had an account for a few years with FXCM. Recently, had a spread of 8 but was in 10 pips of profit standard account set a stop at break even and stepped away for about 2 min.
MY charts showed no more then 1 pip movement dialed it down to a 1 min chart. Their excuse was that the stop order was hit and the order slipped 15 pips due to low liquidity at that time of day. Problems I encountered were from system freezing while trading and when I am in a trade, deleting stop loses, and deleting pending orders. Execution is excellent within split second and fills are great!! I would say try it you will love it!! Months of testing for me is all the proof I need to tell you all!!
Wide spreads, always pricing away pips more expensive than other brokers. Lets not forget this is the daughter of the late Refco! It seems as if broker bitching will never die. When you lose money the broker gets flamed and all sorts of excuses and broker mishaps are thrown at the broker. But when you win some trades you seem to be happy. If you do not know the market and you do not know how brokers operate, then stop complaining and start learning about these things. Losing money start moving me to NDD.
Suspect lot of SL Hunting activities. I went live with fxcm uk for two weeks. I traded with fxcm using their trade station II two years ago, order opening and closing were very good, order with tp level set got executed at that exact tp price.
If you want to scalp, then the active trader platform is ideal for scalpers. You're paying a commission instead of a spread mark-up on each currency pair, and you also have access to level II type market depth to see the amount of liquidity being offered by the banks. FXCM rewards high volume traders through the active trader platform since we're making money based on trading volume, and scalpers are generally higher volume traders.
FIX api for is available for active trader as well. After a month of trading with fxcm mt4, I have to give up. Too much and too many slippage. Order excution time vary from 1 to 15 seconds. When my order took 8 seconds to filled, I called fxcm support and I was told that it is normal for fxcm mt4 to fill order within 10 seconds!!!
The staff there also explained to me that bt mt4 works like a bridge to their trade station. I felt like a second class client by using mt4 So with 10 seconds order excution is acceptable under mt4, I decided to give up. I use the Micro Trading Platform as I like that particular platform.
So if your new to FX Trading don't open a live account without trying the demo for at least a couple of months. Understand what drives the market and use the market data. I've never done forex trading before so I got a book about it and worked the demo for a couple of months. I still use the demo as I'm trying to get the Japanese Yen understood and I still struggle. I don't bet on anything that I don't understand. Do not listen to bad reviews on here. Chances are that people are not very sensible and just bet whatever way they want.
I do this full time and I make an extremely comfortable living out of this. Yes the pips aren't the greatest but they're trying to make a living to. I completely disagree with all the other "scam" ratings. They offer great educational tools and have superb customer service.
I have never been closed out of a trade--either winning or losing--against my will. I trade two services and make my living full time with FX. These ratings are now useless. But my two friends who also trade full time use Forex. These three services are not scams. They make a lot of money on the spread and interest and its to their advantage for you to make money and make more trades. Remember, when you make money, they hope its from other services and leads to more trades.
I have other trades on the sites. I looked at my spread and commisions FXCM has a commision for gold members, but ultra low spreads , it was over 30K last year. No wonder they like me. But my profit was over K. It's not a scam and not impossible, but its a full time job for me.
I spend 12 hrs per day 6 days per week studying. I read every paper in the world and spend hours on my charts. So ignore these fools. But treat it as a job and do your homework. If you treat it like Vegas, then you will lose just like Vegas. This is my career. No different than being an banker, doctor or lawyer. I get paid very well, but I have lots of stress, many sleepless nights trading the London market and days where I lose K.
But the days I make K, they make up for it. From what I see, FX trading is very binary. Either you can do it or you can't. So most either lose their money or make a ton of it. Luckily, I fall into the latter. The spreads are very good. Generally good reaction from the platform except after news. After news, the system may in fact lock you out as has been reported on this board.
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Here are, in a nutshell, the advantages and disadvantages with regard to this broker: Global Brokerage announces poor financial metrics for Q1, will probably delist from the Nasdaq May 16 Infographics Jan 15 FXCM Dec 27 Nov 08 Aug 23 Again Jul 16 America's Top Forex Broker Jul 09 Forex on Steroids Jun 06 FXCM May 21 An Unregulated Global Subsidiary Apr 23 Winners Announced Apr 18 FXCM Dec 21 Jan 17 Aug 16 Jun 16 Jun 14 How Important is it to You?
Jun 12 May 15 Cut Through the Forex Noise Apr 03 Which platform to choose Mar 20 Sell into USD weakness Feb 24 Dec 13 Nov 24 Top Forex brokers More details. The time now is hh: Summary FXCM is one of the world's largest and most reliable forex brokers. How safe is your trading company?
Safety of funds FXCM receives a lot of bad reviews from amateur traders. Trading with FXCM since Quality and dependability The good: The bigger the brokerage is the more bad reviews it gets FXCM is a good company,I havent been trading with them that long buy my experiences so far is great. FXCM is a reliable and reputable choice for any forex trader There are many foreign exchange market brokers to choose from these days; sticking with a prominent, well-known company is always a good idea.
You must be kidding! FXCM is a scam? I doubled my account with FXCM and I am a professional trader and I trade with FXCM I am a professional trader and I also advise over 1, other traders with entry exit orders. No serious complaints with current Micro environment so far 8fingers, forexfactory. Execution can be slow only during news So what's up then with the criticism on FXCM's execution in some other reviews? Forget scalping if you intend to use FXCM fxcm.
That's just plain stupid! FXCM is the daughter of the late Refco Wide spreads, always pricing away pips more expensive than other brokers. FXCM Active trader platform is ideal for scalpers If you want to scalp, then the active trader platform is ideal for scalpers. FXCM offers great education and superb customer service I completely disagree with all the other "scam" ratings.