Oanda
(3.5 stars)
FX retail market maker.
FXCM Review
8/23/2009
- Pros:
- None
- Cons:
- None
- Bottom Line:
- No, I would not recommend this to a friend
- Quote:
- FXCM are the plain vanilla of retail FX. The platform, although a little bland, is functional enough (Deutsche Bank's retail offering DBFX is a white-label of the same one), the company is financially stable, support is OK, but execution is slow and often erratic, with too many rejections for my liking. One thing I would say is this: I like honesty from brokers wherever possible, and FXCM claims to offer a STP service with no dealing desk. This is simply not true, they DO trade against their clients and recently advertised a vacancy for a senior trader in which part of the job description was "to actively trade against clients". That isn't nice.
Overall if you want something that's just "OK", then FXCM will tick that box, but I think you'll get fed up of the rejections when the market's moving.
