The story above running in Profit-Loss magazine reported on a reparations case between Robert Dickten and FXCM. Unfortunately, the reporter did not give FXCM an opportunity to comment resulting in a story which is one sided and misleading. The case revolves around trading activity in a single account which occurred in 2005. There have been major developments in both FXCM’s business model as mentioned above and the regulatory environment for retail forex trading since then

Below is the clarification that Profit-Loss magazine is running in this weeks online edition.

FXCM: A Clarification
Mon 23rd Feb 2009
bookmark

Last week, Squawkbox reported on an issue between retail FX provider FXCM and the Commodity Futures Trading Commission (CFTC). We have been asked by FXCM to clarify some of the points made in the article.

The CFTC was not a party to the Dickten case, it provided an adjudicatory forum in which the customer could present his claim. The CFTC never initiated any formal enforcement action against FXCM in connection with the Dickten matter and “never found FXCM in violation of any statute or regulations,” FXCM says.

FXCM has been registered with the CFTC since 2001 and the firm says that it is incorrect to state that it was challenging the CFTC’s authority. It has also asked Squawkbox to point out that since 2007 it has been implementing a “no-dealing desk”, which directly offsets every trade from a customer with a major bank or financial institution.

We are happy to provide this clarification.


If there are any additional questions I can be contacted at jsales@fxcm.com

we come to an agreement with fxcm to give us low spread
to trade with our private expert
but the problem now is metatrader of fxcm is very bad
they suggested to transfer to bostn technology metatrader
which is owned by fxcm
has any body here has any idea about this company
we will be thanks for him

best regard

Hmm, I wonder if I go in to my losing trades Comments and put in "I made an Error, this one Doesnt count" if they will erase the trade from the system and give me my money back!

I doubt it.

I had a similar conversation with FXCM!
Their support ppl are either simply rude or just don't know a damn thing.

hey Cultzr, seems you have a similar style to mine. Which broker are you using now? I want to find an ECN using MT4 that has low spreads and is reliable. I dont mind paying a small commission if i can get it back on execution and low spreads.

Forex Traders that want to have the ability to Hedge Trades may Open Forex Trading Accounts with FXCM UK

Starting May 17, Forex Dealer Members will no longer offer clients the ability to hedge as per NFA Compliance Rule 2-43(b). Forex traders who would like to maintain their current hedging functionality have the option of opening a new account with Forex Capital Markets Limited (FXCM UK). Existing client of Forex Capital Markets LLC (FXCM) can simply complete a one page form. Segregated Forex Account
Who is FXCM UK?
The companies that make up FXCM Holdings LLC are regulated in five jurisdictions. Among them is Forex Capital Markets Limited (FXCM UK), which is regulated by the Financial Services Authority (FSA) in the UK.
The FSA, one of the world's most respected financial regulatory bodies, is the government agency that oversees spot forex trading in the United Kingdom. Accounts with FXCM UK are fully segregated in accordance to FSA client money rules.
Will my FXCM UK account offer No Dealing Desk Execution?
Yes. Every trade is executed back to back with one of the world's premier banks or financial institutions, which compete to provide FXCM with the best bid and ask prices. The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip or less from major currency pairs.
Open An Account With FXCM UK | Transfer Account From FXCM LLC To FXCM UK Segregated Forex Account
Where would my funds be held? How would I deposit and withdraw?
To make the transition for those who want hedging to FXCM UK smooth, we are setting up similar account administrative functions found at FXCM. This means you will be able to deposit and withdraw funds just as easy through FXCM UK.
Credit Cards: All accounts of FXCM UK, for both U.S. residents and non-U.S. residents, will have the ability to fund via credit card. We are in the final phases of testing this system right now and it will be available in the next two weeks.
U.S. residents: You will be able to deposit via credit card in U.S. dollars.
Non-U.S. residents: Will be able to deposit via credit card in GBP, EUR, AUD, NZD.
Wires: All FXCM UK accounts, for both U.S. residents and non-U.S. residents, will have the ability to fund via wire deposit.
U.S. Residents: Your U.S. dollar deposits can be made via bank wire. They will be held with Bank of America in the United States.
Non-U.S. Residents: You can fund with GBP, EUR, AUD, and NZD. Funds will be held with HSBC in the United Kingdom.
Withdraw Funds: A Withdrawal Request Form is available online and can be scanned and e-mailed, or submitted via fax. Visit FXCMUK - FXCM - Depositing Funds Options
If you have any questions about the new regulations, or their effect on your risk management, please don’t hesitate to call us at +0808 234 8789, or e-mail us at info@fxcm.co.uk.
We look forward to serving you.
Best regards,
Forex Capital Markets Ltd.
145 Leadenhall Street
2nd Floor Rear
London EC3V 4QT
+0808 234 8789
info@fxcm.co.uk
Forex | currency trading | forex trading | forex broker

I agree with the above. i would not open a FXCM usa account. I would only do the UK version as it is completely different. it's a Boston technologies connection. the platform doesn't even say FXCM when you download! Those of us who have been around mt4 know that BT is known supplier of ECN bridges, among other things.

this is where I'm going in the next month so i can hedge with the destiny 3.33 scalping EA

__________________
Keep your enemies close and your stops closer

Hi,
I spoke with the Boston Technologies people in regards to the ECN bridge for metatrader. It appears that there is a possible push to eliminate Dealing Desks altogether. The guy at BT spoke of this and said that people are simply fed-up with being screwed by the brokers taking the other side of the trade. We originally spoke to them about setting up a broker back-end infrastructure to better manage our funds and not retail clients directly. With no DD and STP (straight through processing) being rapidly implemented on several of the "bigger" brokers to the large liquidity pool providers, the metatrader platform and automated quant EA usage should have increased profit. I laughed and said "Other than for branding purposes, why would anyone come to you and pay the fees to get a bridge built when the big boys are all in process of doing just that anyway? We can just piggy back on them by opening an account and bingo... no need for additional infrastructure!" He chuckled and quietly agreed.
We are always trying to save a buck or two. We don't mind paying a small pip spread for no DD and STP. We just hated to get screwed by the DD. Yes, it does appear that a refreshing change is coming. A much needed broker-methodology "paradigm shift"! Bring it on I say!

Leading Global Forex Firm
Now Offers MT4 Demo Accounts
For Immediate Release:
Media Contact: Jaclyn Sales, jsales@fxcm.com
New York, May 21, 2009Forex Capital Markets LTD (Forex | currency trading | forex trading | forex broker) announced today that the FXCM MetaTrader4 demo, powered by Boston Technologies, is now available. FXCM has joined together with Boston Technologies to enhance FXCM’s MT4 offering.
Why Trade on MetaTrader 4 with FXCM?
• MetaTrader 4 is integrated with FXCM's No Dealing Desk execution that means no re-quotes
• Hedging capabilities through MT4
• Trade directly from the charts
• Spreads as low as 1 pip EUR/USD
• Accepting all EAs, including scalping EAs
• Free Trading Signals from DailyFX Plus
• 24/7 client support
Multiple Currency Denominations Accepted: Account Opening Minimum: A deposit of US$2,000, £2,000, €2,000, A$2,000, NZ$2,000, or ¥200,000 is required. MetaTrader 4| Meta Trader - Forex Trading Platform
“We have received tremendous demand for our No Dealing Desk MT4 platform. Through our partnership with Boston Technologies, we are able to leverage their technical expertise and widen our MT4 offering. Offering demos and expanding the selection of base currencies, as well as offering programming assistance, is just the start. Very soon we hope to be offering free, lifetime VPS hosting as well,” said Marc Prosser, chief marketing officer at FXCM.
For answers to your questions on FXCM’s MT4 platform, powered by Boston Technologies, click: FAQs MetaTrader 4 - DailyFX Forum
To open a demo account: MetaTrader 4| Meta Trader - Forex Trading Platform
To open a live account with FXCM UK: </title> <meta name="keywords" content=""> <meta name="description" content=""> <META NAME="robots" CONTENT="NOODP, NOYDIR"> <meta name="googlebot" content="index,follow"> <link href="/fxcm_style.css" rel="stylesheet" type="text/css" /> <link href="/
To open a live account with FXCM Australia: http://www.forextrading.com.au/metatrader-apply.jsp
If you are an existing account holder you can fill out the transfer form. Please contact Client Services Client Services Contact details
FXCM Holdings LLC Facts
• FXCM Holdings LLC has over $100 Million in capital
• More than 125,000 live accounts are traded on FXCM trading platforms
• As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platforms
• As of January 2009, an excess of $600 million in customer funds trading on platforms offered by FXCM
Only spot FX can be traded on this MT4 platform with FXCM
Trading FX, CFDs and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors.

New DailyFX Plus
Now with Bloomberg TV and Live Trade Alerts
For Immediate Release:
Media Contact: Jaclyn Sales, jsales@fxcm.com
New York, May 27, 2009FXCM Holdings LLC (Forex | currency trading | forex trading | forex broker) announced today a major expansion of DailyFX Plus. Now, in addition to Trading Signals, the Technical Analyzer and SSI order flow intelligence, DailyFX Plus offers you two new services―Bloomberg TV and Forex Stream.
Forex Stream, staffed by the DailyFX team of nine analysts, offers you real time market analysis focused specifically on intraday trading opportunities. This new service, which has been in development since 2008, replaces the Thomson IFR news feed.* DailyFX Forex Stream or https://plus.dailyfx.com
Bloomberg TV. In our opinion, Bloomberg is unsurpassed for global, up-to-the-minute financial and economic news. As an integral part of DailyFX Plus, Bloomberg TV will stream real-time business news to you 24 hours a day, seven days a week. Its available now at https://plus.dailyfx.com
Forex Stream: This new FXCM service is specifically designed to supply you with direct, blunt, tradable news analysis―in time to trade on it. DailyFX Forex Stream
• Forex Stream provides signed, opinionated news analysis from the DailyFX analysts.
• Forex Stream comes at you fast, with short, cut-to-the-chase reports on price action and event impact― updated minute by minute around the clock.
• To save you time, it eliminates all information not immediately relevant to trading.
• It directs you to time-sensitive trading opportunities.
Open a live account for unlimited access to DailyFX Plus: Segregated Forex Account
FXCM Holdings, LLC Facts
• FXCM Holdings LLC has over $100 Million in capital
• More than 125,000 live accounts are traded on FXCM trading platforms
• As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platforms
• As of January 2009, an excess of $600 million in customer funds trading on platforms offered by FXCM
* For the last four years, we have been proud to provide Thomson’s excellent IFR news service as part of DailyFX Plus. Since our new service and IFR serve similar functions, however, we have decided to discontinue the IFR service.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.