seen FXCM bug its price feeds etc, I beginning to have a second thought. Check this and tell me what you think please.
http://www.jattyouth.com/videos/punjabi/est2KLcI0r4/How-FXCM-Scams-its-Clients
Hi Emibluz,
If you go 8 minutes and 20 seconds into the video, you can hear where the person who made it admits that he asked the UK regulators (the FSA and the Financial Ombudsman) to review these trades, and they found no error in FXCM's trade execution. He was upset about receiving a margin call, but that doesn't change the fact that the margin call executed correctly.
Our platform has a built in Margin Watch feature that automatically closes out trades if an account falls below the minimum margin required to main those positions. This protects the account from further losses and is the reason why FXCM can offer our clients a No Debit Balance policy. That means even in the worst case scenario, their risk is limited to the money in their trading account. Our clients never have to worry about owing money due to trading losses.
One last point regarding this video: The person who made it was obviously confused about how autosyncs work. It's important to keep in mind that this video was made over 2.5 years ago, and back then FXCM used a 3rd party bridge to connect to MT4. Autosyncs were used to synchronize the information on the MT4 platform with the latest information available in back office.
Since then, we've upgraded our MT4 platform to integrate seamlessly with our No Dealing Desk (NDD) forex execution. That means no more 3rd party bridges and no more autosyncs.
after all they few of the big boys brokers boast more transparency of them neither better trading conditions as most of the offshore have more flexible trading options.
You make a great point in bringing up the topic of broker transparency. It's no secret that the brokerage industry has been in the midst of a price war for the past couple of years. That combined with lower trading volumes last year have caused many brokers to struggle. There was even a
broker in Europe that went bankrupt after trying to entice clients with 0 pip spreads. Last year also saw the
failure of a US broker that had previously touted their razor thin spreads. We've had other brokers have to pull out of the US after being unable to meet regulatory capital requirements.
If recent events have taught us anything, it's that the financial stability of the broker you choose can have far greater implications than we previously thought. Unfortunately, the vast majority of brokers are privately held companies, so it's hard to know the state of their finances. Are they profitable, or are they barely staying afloat? How can you know whether they are a safe place to keep your money?
FXCM is a publicly-traded company (NYSE ticker: FXCM), so information regarding our financial data is readily available. This is one of the reasons why traders have entrusted us with $1.171 billion in client funds as of the latest published data.
Jason