The opinions expressed in these forums do not represent those of C2, and any discussion of profit/loss is not indicative of future performance or success. There is a substantial risk of loss in trading. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. You should read, understand, and consider the Risk Disclosure Statement that is provided by your broker before you consider trading. Most people who trade lose money.
So, since FXCM is in trouble and since FXCM is C2 preferred broker, Matt/C2 what is your action on replacement/ alternatives?
I currently sub to a few FX accounts via FXCM and I am extremely concerned about current development with FXCM…
Since, you have better relationships with FXCM, do you have any information on what will happen with US based FXCM accounts?
Any information in this regards could greatly help…
They are transferring the accounts to Gain Capital, with no time table on when that will occur. Personally, I chose to immediately close my positions at FXCM and have wired my money out. Everyone can make his/her own call what to do with their funds. Hopefully the account transferal process will be seamless and nobody will lose anything.
I am really upset about lack of the communication by C2 team… I have open a ticket with C2 about potential alternatives to FXCM but still no luck… I am currently looking at trade tradeking.com as my FXCM replacment…
https://www.tradeking.com/forex/open_account.htm
They currently offer 2 products ForexTrader and MetaTrader… I am trying to figure out what product if any is supported to auto trade via C2 Auto trading platform…
Does anyone have any experience with tradeking? Any other alternatives or recommendations for FX trading for US based accounts is highly appreciated…
Hi,
TradeKing Forex is not supported. This will help: https://collective2.com/need-forex-broker
Finally there is solutions, hopefully this is a good brokerage
Any information what is the leverage at Gain Capital for US residents? Is it 50:1. Thanks
As someone who just transitioned from FXCM to GC, I can tell you that leverage ratios are lower then FXCM … most of the pairs are 1:33… Some of the more volatile pairs , like GBP are even at 1:20…
On my 1st day of trading after switching and keeping scaling % for my strategies at the same levels… I instantly ran into margin problems on GC platform, even though i never dipped below 40% on margin balance on FXCM platform with smae balance and % scaling.
So the point of the story, if you switching from FXCM to GC, i would recommend to dial down your scaling to make sure you don’t run into margin issues, especially if strategies that you subscribe deals with "riskier pair…
I hope this helps…
