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class action against FXCM
- Thread starter cking74
- Start date
King74,
Both my brother and I have accounts with FXCM and sure enough after the last updates we can no longer excute trades on speed, specially during news accouncements. No matter what time of the day, we receive the "waiting for dealer" message. This company has become more and more of a joke and we are looking for another provider at the moment. DO they think we are stupid!
FXCM claims it's because of low volume, when approached about the latest updates and their speed they begin selling us their PropFx service ( which is crap btw).
Both my brother and I have accounts with FXCM and sure enough after the last updates we can no longer excute trades on speed, specially during news accouncements. No matter what time of the day, we receive the "waiting for dealer" message. This company has become more and more of a joke and we are looking for another provider at the moment. DO they think we are stupid!
FXCM claims it's because of low volume, when approached about the latest updates and their speed they begin selling us their PropFx service ( which is crap btw).
Quote from captlu:
King74,
Both my brother and I have accounts with FXCM and sure enough after the last updates we can no longer excute trades on speed, specially during news accouncements. No matter what time of the day, we receive the "waiting for dealer" message. This company has become more and more of a joke and we are looking for another provider at the moment. DO they think we are stupid!
FXCM claims it's because of low volume, when approached about the latest updates and their speed they begin selling us their PropFx service ( which is crap btw).
I hope you are not surpised. Go with oanda or ib for forex or any broker for currency futures.
FXCM has been sued based on the complaints here described and many others.
Those interested in joining please contact me:
yorktown@lycos.es
Those interested in joining please contact me:
yorktown@lycos.es
Chris-
how long were you making a profit, and what time frame did you typically trade?
Please let me know - I'm curious because i was thinking of going back to retail fx to run some fairly conservative intra-day strategies... i used gft, about a year ago, though
thx
how long were you making a profit, and what time frame did you typically trade?
Please let me know - I'm curious because i was thinking of going back to retail fx to run some fairly conservative intra-day strategies... i used gft, about a year ago, though
thx
Quote from cking74:
Why the change? I am consistently making a profit, so now they are handicapping me. They will only do this if you are making a profit and make no mention of it anywhere on the account application or on their website.
Enough is enough. Theses guys are crooks.
Chris King
funny! this "lawyer" should read the contract. there is no grounds for legit suit here--- frivolous lawsuits are frowned upon...
surf
surf
Here is an excerpt of the complaint against FXCM filed in federal court, illustrating one of the schemes
"On May to September FXCM represented that it could not honor the price quoted for a currency exchange trade because the âprice had movedâ. The representation was false, the true facts were that the original price quoted was not the real price, but a delayed price. FXCM benefited by this misrepresentation by effecting Plaintiff's trades at a false price when it was beneficial to FXCM, but denying the trade when it was not."
"On May to September FXCM represented that it could not honor the price quoted for a currency exchange trade because the âprice had movedâ. The representation was false, the true facts were that the original price quoted was not the real price, but a delayed price. FXCM benefited by this misrepresentation by effecting Plaintiff's trades at a false price when it was beneficial to FXCM, but denying the trade when it was not."