Forex Reviews and Recommendations

Horrible broker

for FXCM

6/22/2010

1 of 1 customers found this helpful (100%)

Pros:

None

Cons:

Poor customer support, Unstable platform

Bottom Line:

No, I would not recommend this to a friend

Quote:

I am having a very bad experience with FXCM.

I have had hanging orders for days that I could not close or modify, and stop-looses didn't work while orders were hung.

Almost everyday the server suffers execution lag, so forget about correct entries.

But the worst is what is happening to me now. The server seems to have synchronization errors, so sometimes it sees only a few of the transactions.

The problem with this is when it sees only the negative transactions. Yesterday the server closed all my positions (margin call) while I had a lot of margin available.

It left my account with -441 euros (it should be impossible) :) But when the syncronization errors were corrected (some hours after) the account was in positive.

A week ago, I had a similar experience but that time I lost a lot of my account.

Still no answer from the tech support from any of the incidents.

So, in essence, a VERY VERY VERY BAD experience with FXCM.

Thanks god I am working with three more Brokers.