Recent content by FXCMFXCM

A few things here. First, this deal sucks for refcofx account holders. Had the creditors committee accepted FXCM's offer of $130 million, these people would have gotten all of their funds back. As it is, the only people who will get all their money back are those with less than $150 in...

If you want complete safety of funds, you have to have your funds backed not by a company's financial strength, and not even by a company who is overseen by a government agency, but by the government itself. No one has any qualms about putting money in a bank account thanks to the FDIC, no one...

I am a representative of FXCM. If you are trading on a multi-bank platform, then no single bank can "get" the spreads, as you will buy from and sell to various banks over time. The prices you see quoted on the platform are simply the prices each bank is willing to fill you at for a given...

I am a representative of FXCM. When considering spreads, there are two other things I'd recommend you take into consideration. They both have to do with the nature of the spread you receive and therefore the quality of the execution you will get. One is whether the spread you're trading...

I am a representative of FXCM. Thanks for your response and all of your good points. As to the first question of our business model, with 50,000 accounts including some where very large positions are traded, FXCM would be taking risks beyond measure if its dealers fail to offset those...

I am a representative of FXCM. I very much appreciate your kind response. You hit at the heart of what I am trying to do, which is clarify our stance on any issues that are of a concern to clients, potential clients, or those interested in how FXCM operates. I want this forum to be as open...

I am a representative of FXCM. It is possible to store your stops and limits on your personal computer on the PropFX platform. On the retail platform (FX Trading Station or Trading Station II), all orders are sent to our servers and stored on them until the price specified is hit, and the...

I am a representative of FXCM. Non-Farm Payrolls cause abnormal volatility in the FX market. Anyone trading FX over the past few years are certainly aware of this. The aim of a market maker as the counter party to clients’ trades is to make liquid markets even during the most illiquid...

I am a representative of FXCM. I appreciate your response and I hope I can clarify a few things. First of all, FXCM's prices are not "set" by FXCM, in the sense that FXCM's system takes prices from up to 14 interbank dealers and quotes a price with the same median as the prices bid and...

I am a representative of FXCM, and I want to clarify our stance on the issues of trading against clients as well as dealer confirmation. I want to respond to the accusation that forex market makers only make money when clients are losing money. The only case where this is true is when the...