FXCM – what we know and have as facts about it; FXCM Group is a holding company of Forex Capital Markets Limited. It was founded in 1999 and currently is headquartered in London, United Kingdom. Forex Capital Markets Limited (“FXCM LTD“) is authorized and regulated in the UK by the Financial Conduct Authority (FCA) under reference number 217689. FXCM Australia Pty. Limited (“FXCM AU“) is regulated by the Australian Securities and Investments Commission (ASIC) under license number 309763. FXCM South Africa (PTY) Ltd is regulated by the Financial Sector Conduct Authority (FSCA) under registration number 46534. These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Terms of Business file that when you enter into a CFD contract with FXCM it acts as a market maker. In general, dealing with market makers involves a conflict of interest because they do not transmit customer deals and hope that customers will lose. Every loss of customers is their profit.
We also found that there are some posts in forums about stop loss orders executed at a wrong price and some problems with withdrawals.
So far, we have not received any complaints from customers of FXCM. If you have any criticism to share with us or feel annoyed by FXCM, please fill out the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and FXCM if you wish.