Hi premierpips,
FXCM's MT4 platform uses No Dealing Desk execution as does standard 10k accounts on the FX Trading Station II platform for executing forex transactions. We recommend only using MT4 if you intend to use Expert Advisors, and use the FX Trading Station II if you would like to use manual trading. Reason for this is because the FX Trading Station II was designed by FXCM for No Dealing Desk execution and the features are more suitable for traders wanting to trade manually rather than with automated trading. However, I understand you will choose to use the platform you are most comfortable with.
I agree that execution for an order of 2-3 minutes is not ordinary and our client support should be contacted about having this investigated. The standard time frame for receiving a response to a trade audit is within 2-3 business days. If you would like to contact me via private message, I would be happy to review the details of your audit to make sure our process could be reviewed for quality assurance to make sure this type of delay does not occur in the future.
-Jason
Quote:
Originally Posted by premierpips
thank you for this excellent thread.
I was surprised to see FXCM at #2 on the recommended broker list. I've had slippages of over 70 pips on their mt4 platform and execution delays of over 2-3 minutes. when i raised an issue with their support, they responded immediately but resolution of the issues took over a month. ultimately all problematic trades were reversed and i've closed the account.
the interesting part is that the FXCM representative said that their MT4 platform is operates as an MM and recommended that I switch to their Trade Station platform. But I donot like TS, hence decided to look for other brokers.
Overall, in terms of customer support, FXCM well deserves to be at #2. But actual execution would drag them down. After all for traders, execution is primary. You wouldn't want to raise issues with support all the time.
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