[Hassam]

FXCM was once the largest forex broker. I don't know about it now. It got banned by Commodity Futures Trading Corporation (CFTC) in 2017 after taking positions against the clients and it was fined $7 million. CFTC also found that FXCM made false statement to National Futures Association. The decision to ban FXCM from operating in the US market. Before that FXCM has got a bail out of $300 million by Leucadia when it suffered heavy losses on the shock decision of Swiss National Bank to unpeg CHF from EUR at the 1.20 CHF to EUR for 3 years. This happened in January 2015. A number of brokers went bankrupt when SNB suddenly unpegged CHF from EUR. That included the famous broker Alpari UK. FXCM due to its lax risk controls had suffered heavy losses as a result it sought a bail out package of $300 million to stay solvent. Many CHF traders also lost thousands of dollars and even had their trading accounts blown out on that day in minutes.

I had opened a FXCM account and connected it with my NinjaTrader platform. I did this to get live data. After one year I started getting emails that I had not opened a trade and they will deduct the amount. I emailed back that since I had no submitted my tax statement I was not allowed to open a trade. Anyway FXCM support was cooperative. I made them understand that my account was only meant to get live data and I had only deposited $50 for that purpose. I have never traded live with FXCM. My deposit was $50 with them and that was only meant to open a live account and connect it with NinjaTrader. FXCM also provides with a python api that we can use to develop algorithmic trading strategies in python for trading on it. Now if you have any experience with FXCM whether good or bad, you should tell us about it in this thread.