FXCM Reviews - Forex All Brokers - Forex Brokers

Average Customer Rating: (based on 48 reviews)

(3.0 stars vs. 3.3 category average)

(7)

(16)

(6)

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(12)

rayrazz

Expert Trader

Good for a micro start up account

8/20/2010

0 of 0 customers found this helpful (0%)

Pros:: Low spreads, Easy-to-use platform, Good customer support
Cons:: None
Bottom Line:: Yes, I would recommend this to a friend
Quote:: I used a micro account with them to test some stuff. I only gave them 4 stars because I have never tried a standard account with them. The micro account spreads and fill were good in my opinion.

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fmonera

Intermediate Trader

Horrible broker

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.

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CPfx1

Casual Trader

Not all true

5/19/2010

5 of 5 customers found this helpful (100%)

Pros:: Easy-to-use platform, Good transaction reporting, Web-based platform
Cons:: Poor customer support
Bottom Line:: No, I would not recommend this to a friend
Quote:: I began my FX trading experience with FXCM.
My first uneasy experience (over 2 years ago btw) was with their customer support. The guy I had was hell bent on getting me to fund an account asap, even though he knew I had no prior experience and was still very uneasy with trading. I let myself get railroaded by him, I opened a $2k account and quickly saw it disappear, whenever I tried to contact him he never replied me and, surprise surprise, when my account was at $0 he calls me and asks how quickly can top up my account...and maybe I should consider making it $10k to avoid being marged out so easily!!
I was introduced to ACM by a friend after a few months with FXCM, compared them side by side with the exact same trades and found the Swiss broker offered me an overall far superior trading experience...all without the pushiness. needless to say I terminated my relationship with FXCM (USA)...
FXCM, Not my best experience!

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wretched_hag40

Intermediate Trader

Unstable Platform with Good Customer Support

5/11/2010

10 of 10 customers found this helpful (100%)

Pros:: Good customer support
Cons:: Hard to-use platform, Spread widens frequently, Unstable platform
Bottom Line:: No, I would not recommend this to a friend
Quote:: Their system is real slow, I am running other trading platforms on the same PC, and never experiences any stability issues. This scenario makes for an unpleasant trading experience.

A bright side however is their good customer service.

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moneychick

Intermediate Trader

Gets the job done

5/10/2010

6 of 6 customers found this helpful (100%)

Pros:: Easy-to-use platform, Good customer support, Solid trading platform, Good transaction reporting
Cons:: None
Bottom Line:: Yes, I would recommend this to a friend
Quote:: FXCM is a large broker with many clients and I find it easy to see why. They have a stable, easy to use and comprehensive platform and they back it up with very good customer support. Everything you need to trade effectively is available to you through FXCM. They provide news updates and trading advice from professionals through their Dailyfx website. They offer a user support forum for their micro account holders and phone support for their standard account holders. They are a "no dealing desk" broker. Their spreads are reasonable and after a few months of trading with them I haven't had any problems to speak of whatsoever. I am satisfied with FXCM and recommend them to anyone interested in trading forex.

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breezy88

Casual Trader

Mini Accounts Are Good

3/5/2010

2 of 2 customers found this helpful (100%)

Pros:: Low spreads, Easy-to-use platform
Cons:: None
Bottom Line:: Yes, I would recommend this to a friend
Quote:: FXCM seems to get a bad wrap, but I have used there mini accounts which have pretty tight spreads and good execution. If your looking to open a really small account they aren't that bad.

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torino

Intermediate Trader

So So overall for me

2/21/2010

4 of 4 customers found this helpful (100%)

Pros:: Easy-to-use platform, Fixed spreads, Web-based platform, Mobile platform
Cons:: Poor customer support, Poor charting software, Unstable platform
Bottom Line:: Yes, I would recommend this to a friend
Quote:: I know this is probably not new material for most people out there. but i guess when something becomes so repeated it is probably for good reason no? anyway this is really not the worst broker to start with. in terms of platform innovation and overall service, it is probably in the middle of the pack. So using this broker will actually give you a clear differentiation for other brokers you use, both the better ones and the worse ones. You will be safe they are a big company and provides that security blanket somewhat, but for me and probably most people, you will find much better service with other bokers out there you just have to do some digging around. and a lot it can come down to personal preference. Again not a bad starting off broker, can do worse and can do better.

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Specul8tr

Expert Trader

One Of The Better Brokers

2/18/2010

3 of 3 customers found this helpful (100%)

Pros:: Low spreads, Easy-to-use platform, Solid trading platform
Cons:: None
Bottom Line:: Yes, I would recommend this to a friend
Quote:: The FXCM Trading Platform is stable, easy to use, and very customisable. FXCM as a broker have been reliable, with fairly low and consistent spreads. They also offer no dealing desk execution, which means that they are NOT the counterparty to your trades.

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Jocksmash

Intermediate Trader

FXCM biggest is not always best

11/9/2009

0 of 0 customers found this helpful (0%)

Pros:: Low spreads, Easy-to-use platform
Cons:: Poor customer support
Bottom Line:: No, I would not recommend this to a friend
Quote:: Customer service is lousy. They do a great job of making me feel small and insignificant.

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Alister

Expert Trader

not even worth mentioning

10/6/2009

1 of 1 customers found this helpful (100%)

Pros:: None
Cons:: None
Bottom Line:: No, I would not recommend this to a friend
Quote:: FXCM gave me the most harrowing trade of my life. It all started like any normal trading routine. I opened an order to long GBP/USD. After everything was set nicely, I expected to just watch and wait for ‘normal’ things to happen. When my pips were getting high, my TP got hit and the order process started. I panicked when the price started falling so I hit the cancel tab again and again. But no, the process didn’t budge at all. It went on processing the s—t order. I lost several hundreds! Did I file a complaint? Nope. Calling the untrained and insensitive people in FXCM’s customer service had also been a harrowing experience for me when I was still a newbie. And I think that those kinds of people are not even worth mentioning.

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