This question has been asked to me many times because of Forex.com (or GAIN CAPITAL GROUP) notariatey in the public domain, people often wonder if Forex.com is a scam or is a legitimate broker.
There have been many things said about Forex.com that are very serious blows to their credibility.
# no end of problems with stopouts
# large out of nowhere spikes
# news constantly arriving late
# graphs freezing right before big announcements
# Manual rate execution is awful
# they use thier massive bank credits and connections to pile one against thier “clients” trade and clean you out.
# They pick your stops and buffer your profit targets.
# It seems about 30% of the time it will take a dive on you.
# The more you place an order the more you will loose your money!!!
# the charts don’t correlate very will with the current bid/ask
# they are taking back a pip when I exit a profitable trade
# I dont get the price that I click on to exit the trade but I get one pip less
# NFA’s disciplinary case against them in early 2007 for compliance violations
# disabled my account
# Gain Capital of New Jersey and New York City, and Forex.com are one and the same shyster outfit.
# SEEMS LIKE THEY ARE WORKING A SKIM OVER THERE.
# large out of nowhere spikes
# news constantly arriving late
# graphs freezing right before big announcements
# Manual rate execution is awful
# they use thier massive bank credits and connections to pile one against thier “clients” trade and clean you out.
# They pick your stops and buffer your profit targets.
# It seems about 30% of the time it will take a dive on you.
# The more you place an order the more you will loose your money!!!
# the charts don’t correlate very will with the current bid/ask
# they are taking back a pip when I exit a profitable trade
# I dont get the price that I click on to exit the trade but I get one pip less
# NFA’s disciplinary case against them in early 2007 for compliance violations
# disabled my account
# Gain Capital of New Jersey and New York City, and Forex.com are one and the same shyster outfit.
# SEEMS LIKE THEY ARE WORKING A SKIM OVER THERE.
To me all of these allegations are such ludicrous complaints that you as a trader are at fault for. One guy actually says “30% of the time, it seems like it takes a dive on you?” Is he out of his mind? That means you have 70% winning trades and you still are not profitable? Many of the allegations about Forex.com being a scam are just so out there that they can not be believed.
