The Musings of Faith

Hi Lydia. I was thinking of moving to FXCM for my trading, but it seems you have some issues with them. Can I ask what they are. My reason for looking at them is the wonderful analysis from the dailyfx team. My current broker does all the GBP crosses but the spreads are wide, and they insist on high minimum stop losses (80pips in GBPAUD).

andybass1954

Hi Andy! Yes, I have issues and they stem from my experiences with FXCM. The DailyFX team is cool. I “met” Kathy Lien and Boris Schlossberg when they worked there so I agree with you there. But their trading platform is quite another thing and I would never recommend them. I won’t rehash all the reasons why. You can read my thoughts here and here. And here is how I suggest you find the best broker for you. An 80-pip spread on $GBPAUD is high. Get out of there.

I am a woman born to Nigerian parents, walking with God, interested in art and technology yet passionate about economics, investments, and capital markets.
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