Hi guys, honest review here, traded with fxcm 3 years now but closed my account!

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Specifications
Broker NameFXCM
Regulation AuthorityUnsatisfactory Response
Website Address https://www.fxcm.com/
Complainant's NamePro trader, UK.
Contact Number-
E-mail Address -
Complain Date February 27, 2011
Broker's Response Unsatisfactory Response
Complain Status Not Solved
Complainant's Claim Amount-
Description

Hi guys, honest review here, traded with fxcm 3 years now but closed my account 3 days ago. Came across this site whilst hunting a new broker.

Pros…

Money is quit safe with them.

Cons…

Unstable mt4 platform

Trading station 2 is ok but crashes from time to time and will not execute the correct lot size from time to time.

Spreads are way to high which was the reason for my departure, i have never seen the spread go lower than 2 pips and on average its 3 pips and sometimes higher, totally unacceptable now im a more accomplished trader and realize that there are better brokers out there, i think they like to attract new traders with not much idea to take advantage of their lack of knowledge about spreads and how it can be a crucial tool. The way i trade is scalping and long term whereas scalping is my bread and butter which means 3 pips spread is a killer and my long term trades which are between 1-2 trades a day where the spread is not so important but if you miss the start of the trade then a few scalps on the way up or down means spread is crucial for quick in and out trades.

I would go back to them if their spreads came down but i feel this will never happen as they seem quit greedy

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