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FXCM review
Started: by Big Mike Views / Replies:31,429 / 187
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FXCM review

  #61 (permalink)
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  #62 (permalink)
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@TabbFORUM: NEWS: FXCM Lobbied Against Leverage Limit Before Franc Trades Went Bad (Bloomberg) tinyurl.com/k8unpo4

https://twitter.com/TabbFORUM/status/556181285387763712

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  #63 (permalink)
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See this and FXCM, Inc. (FXCM) Pares Decline After Trade Resumption

I was ready to buy the stock just before the halt, around $1.30, but was too slow, now it's around $4...
I won't say this loss is nothing but the real value is their customers base, and this won't disappear in minutes.

Success requires no deodorant! (Sun Tzu)
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  #64 (permalink)
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sam028 View Post
See this and FXCM, Inc. (FXCM) Pares Decline After Trade Resumption

I was ready to buy the stock just before the halt, around $1.30, but was too slow, now it's around $4...
I won't say this loss is nothing but the real value is their customers base, and this won't disappear in minutes.

Me to. Was not going to break the bank but 1000 shares for a quick pop would have been nice.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #65 (permalink)
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Futures Edge on FIO

What value do you place on the webinars on FIO?

 
FXCM letter to clients to repay negative balances | LeapRate

FXCM-2013.12.31-10K


Quoting 
Our policy is generally not to pursue claims for negative equity against our customers

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #66 (permalink)
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http://www.zerohedge.com/news/2015-01-28/another-bailout-fxcm-forgive-90-its-mostly-foreign-negative-balance-customers

Mike

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3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #67 (permalink)
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Hi Mike,

Here's the statement from our press release this morning:

FXCM to Forgive Majority of Clients Who Incurred Negative Balances

NEW YORK, Jan. 28, 2015 (GLOBE NEWSWIRE) -- FXCM Inc. (NYSE:FXCM), announced today its decision to forgive approximately 90% of its clients who incurred negative balances in certain jurisdictions, on January 15, 2015 as a result of the Swiss National Bank announcement on that date. FXCM will notify the applicable clients and adjust applicable client account statements in the next 24-48 hours. "FXCM worked diligently to reach this decision and we are extremely appreciative of our clients for their patience and loyalty as we worked through this," said Drew Niv, CEO of FXCM.

The SNB announcement, extreme price movements and the resulting lack of liquidity were exceptional and unprecedented events causing many market participants to incur trading losses. These events were unforeseen and beyond the control of FXCM.

FXCM will also notify certain clients (such as institutional, high net worth, and experienced traders who generally maintain higher account balances) requesting payment of negative balances, pursuant to the terms of the FXCM master trading agreements. This group represents approximately 10% of clients who incurred negative balances which comprises over 60% of the total debit balances owed.

Full press release: FXCM to Forgive Majority of Clients Who Incurred Negative Balances (NYSE:FXCM)

If you have questions about our services at FXCM please send me a Private Message.
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  #68 (permalink)
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@TabbFORUM: NEWS: FXCM Adopts Poison Pill With 10% Trigger (WSJ)($) tinyurl.com/mscqou8

https://twitter.com/TabbFORUM/status/561291294685659138

Sent from my phone

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #69 (permalink)
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I think it's a rude statement to say that you "forgive" customers with negative balance when you have promoted on your website that clients can't loose more than they deposit. Isn't that false marketing then?

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  #70 (permalink)
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theborntrader View Post
I think it's a rude statement to say that you "forgive" customers with negative balance when you have promoted on your website that clients can't loose more than they deposit. Isn't that false marketing then?

I think you misunderstood what they meant. When they wrote " clients can't loose more than they deposit" I think they meant that you can't have negative capital on your account there. You can't and will not owe them money, they will close your account when it comes down to zero.

...so when they forgive those who went into negative capital they mean that they will simply close their account and they will not have to repay any money because fxcm will set their account to zero.

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