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FXCM Fined $2 Million for Slippage Issues – Clients Will

The NFA decided to fine US forex broker FXCM for slippage malpractices. The NFA and FXCM reached a deal in which affected clients will be compensated within 30 days, and that FXCM will pay the NFA $2 million as compensation.

According to the complaint, FXCM did not ensure efficient execution to all customers, did not treat everybody equally when making price adjustments and did not investigate suspicious activity in all customers’ accounts.

Michael Greenberg reports about this, and states “Apparently Non Dealing Desk doesn’t mean you get the best execution”.

FXCM has already begun announcing clients about their expected compensation. These price improvement credit will be deposited by the end of the month.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.