class action against FXCM

Discussion in 'Forex Brokers' started by cking74, Aug 21, 2006.

  1. cking74


    Hello I posted a few times here complaining about FXCM.

    Well, today was the last straw. I had to download updates to the platform in order to trade.

    What were the changes? Now when I close a position, I have to wait for dealer's answer. This substantially slows down the process and causes requotes. Why the change? I am consistently making a profit, so now they are handicapping me. They will only do this if you are making a profit and make no mention of it anywhere on the account application or on their website.

    Enough is enough. Theses guys are crooks.

    Unfortunately for them I am a lawyer.

    If you have any information on how they have defrauded you or to express interest in being part of a class action pleases email me at:

    Chris King
  2. Nothing new under the sun....:cool:
  3. whats wrong with putting anybody on manual exec? or even turning down your business without having to give a reason? how does that contradict the terms of biz you've signed with them? just curious...
  4. FarajL



    I see potential here for a nice long soap-opera.
    Keep up posted on your progress and good luck.
  5. FarajL


    C'mon 2cents,

    It’s like changing the rules during the game. I am sure that when cking74 signed with FXCM he did exactly because he did not want to have requotes nor having to have his orders approved.

    That really sucks and If it would happen to me I would take my business elsewhere.
  6. He did not want to have requotes BUT
    what did he sign !?

    He is a lawyer and should know this
    better than anyone else.

    No matter what, FXCM su...
  7. agree, and that wld be a wise use of yr time, thats all i meant mate
  8. cking74


    Again, it does not say on their website that if you are making money we will make it harder for you do so with requotes.

    Being a lawyer makes me know the law not clairvoyant.
  9. ddunbar

    ddunbar Guest

    It's implied. :D

    You know, if they don't charge a commission... Da de da de da.

    Anyway, all kidding aside, it's things like this that will eventually lead to the demise of the "bucket shop" model.

    I wish you well with your class action.
  10. Go for it 74. I and a friend were about to open accounts with FXCM until we read some posts here. With marketspace coming early nerxt year hopefully it will kill off this kind of crap.
    #10     Aug 21, 2006