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FXCM US and FXCM UK -fraud court cases -2011, 2014, 2017 - compensation for damages?

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  • FXCM US and FXCM UK -fraud court cases -2011, 2014, 2017 - compensation for damages?

    I have made many attempts to reach Jaclyn Sales, Investor Relations, FXCM info emails in both countries, the CFTC, the FCA, the NFA, and other contacts listed in press briefs and news articles, as I believe there were practices used during times when I was trading under FXCM relevant to the three cases below which I possibly should be credited for. I had to close a number of accounts due to losses I incurred, and it is possible that some of my losses were due to actions by FXCM that have been deemed fraudulent. I have not received a response up to this date.
    FXCM US has not contacted me / compensated me for the cases/settlements mentioned below and I had 11 different accounts over 7 or 8 years between 2004 and 2011, so I am almost 100% sure that some of my trades would have been negatively affected during those times.

    Here is who I have contacted so far: Jason Rogers (FXCM USA) / Michael Grant (FCA) / Joe Harari (FXCM USA) / Jaclyn Sales (FXCM USA) / Investor Relations / info@fxcm.com /info@fxcm.co.uk
    Here are the findings/orders of those cases:
    1. February 6, 2017 -- CFTC Orders Forex Capital Markets, LLC (FXCM), Its Parent Company, FXCM Holdings, LLC and FXCMs Founding Partners, Dror Niv and William Ahdout, to Pay a $7 Million Penalty for FXCMs Defrauding of Retail Forex Customers.

      US regulators have punished retail currencies trader FXCM for using algorithms to trade against its own clients, in another stinging blow for global watchdogs against aggressive tactics in the mom-and-pop trading industry.

      The CFTC Order finds that, between September 4, 2009 though at least 2014 (the Relevant Period), FXCM engaged in false and misleading solicitations of FXCMs retail foreign exchange (forex) customers by concealing its relationship with its most important market maker and by misrepresenting that its No Dealing Desk platform had no conflicts of interest with its customers.
    2. August 12, 2011 -- On August 12, 2011, pursuant to a settlement offer submitted by FXCM and Niv, FXCM was ordered, within 30 days of the effective date of the Decision, to make a good faith effort to credit the accounts of its customers the amount of positive slippage which its customers experienced on their trades from and after June 18, 2008.

      NFA fines FXCM $2 million for slippage malpractices, FXCM will credit clients back

      One client received this message from FXCM after this case was settled:


      Dear Client:

      We have important news regarding your Forex Capital Markets, LLC (FXCM US) trading account(s). Last year, FXCM enhanced its No Dealing Desk forex execution by making Price Improvements (positive slippage) available on all orders. We have reviewed your past trading data and your account(s) has been identified to receive a price improvement credit.

      Account Number(s): xxxxx

      Price Improvement Credit(s): x

      The credit will be deposited into your FXCM trading account(s) and will be available by August 28, 2011.
    3. February 26, 2014 -- FXCM UK Announces $16.9 Million Settlement with FCA for Asymmetric Slippage
      FXCM has announced that they have reached a settlement with the FCA for a total of $16.9 million in fines and compensation agreed to be paid.
      Before trading conditions changes were applied in 2010, customers were not receiving price improvement in the event that FXCMs liquidity providers executed their orders at a price better than anticipated.


    I had been a long standing customer of FXCM US and then was switched over to FXCM UK. I am currently reviewing trades that I made on the FXCM accounts below am seeking compensation as other customers have, according to statements I have seen online.
    I have had 11 accounts total between both entities:


    I have not been contacted by FXCM yet regarding either of the above-mentioned cases, and yet I have closed trades with FXCM that fall under the relevant dates contained in these cases.

    If anyone has any more information about these cases and how people were awarded compensation or sought compensation please email me (greg.herron@gmail.com) or private message me.
    “Learn from your mistakes and do not give up!”

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