Fxcm

Quote from FXCMFXCM:



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.
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What can you say about gbp/chf spread 15 pips. when you get soo high spread it doesn't matter any more what sort of quality of the execution you get.
 
First of all, I traded real account at FXCM and liked their platform. But, and this is a big one, their spreads are too big. If you day trade, they will kill you. That is why I left (FXCM recently launched another platform - propfx, where spreads are tighter).

Many firms advertise tighter spreads, and show tighter spreads on their platforms the vast majority of the time, yet when markets are volatile or illiquid, widen their spreads substantially,
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During major news the platform freezes, especially if you trade size. Do it few times with very short time span, and you'll end up on manual. I highly recommend not to trade the news when in forex (my opinion).

There is little I can say to demonstrate or prove that shading is not a practice followed by FXCM
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EVERY FOREX MARKET MAKER SHADES. I obviously did not observe them all, but I did see the best ones doing it, so I can only imagine what smaller/less reputable do.

FXCM needs to bring spreads down, otherwise they will end up with a much smaller clientele.

Regards,
redduke
 
Quote from blufftrader:

I was thinking of going with fxcm but now after hearing this im having my doubts does anyone have anything good to say about them
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no
 
i suggest u to read da countless threads complainin' 'bout fxcm way of handlin' orders posted here on et....u will get a good clue on how bad they really are.
 
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