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FXCM
{{Infobox_Company |
  company_name   = Forex Capital Markets |
  company_logo   = [[Image:Fxcm logo.gif|FXCM]]|
  company_type   = [[Public company|Public]]|
  company_slogan = |
  foundation     = [[1999]]|
  location       = [[New York, New York]]|
  key_people     = [[Drew Niv]], CEO|
  num_employees  = |
  industry       = [[Finance]]|
  products       = [[Foreign exchange market|Foreign Exchange]]|
  homepage       = [http://www.fxcm.com/ www.fxcm.com]
}}

[http://www.fxcm.com FXCM] supplies online trading services for retail [[speculator]]s in the [[foreign exchange]] market. The bankrupt futures brokerage firm [[Refco]] is one of FXCM's principals (with over 10% ownership) according to its National Futures Association (NFA) listing [http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0308179].

The retail foreign exchange market is controversial because few retail traders make money, and because of the existence of many [[forex scams]].

According to the [[Wall Street Journal]] (''Currency Markets Draw Speculation, Fraud'' July 26, 2005) "Even people running the trading shops warn clients against trying to time the market. 'If 15% of day traders are profitable,' says Drew Niv, chief executive of '''FXCM''', 'I'd be surprised.' " [http://webreprints.djreprints.com/1276711190447.html]  

The firm has been accused in three CFTC reparations cases: 06-R031, 05-RO38, and 03-R098, according to the NFA. Accusations are not the same as convictions, and the CFTC only releases information on these cases by telephone at (202)418-5508.⏎
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FXCM provides learning resources to help traders, through such products as their [http://www.fxpowercourse FX Powercourse] and their free [http://liveseminar.fxcm.com live webinars] as well a book about day trading, ''Day Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Swings'', 2005, Wiley, ISBN 0471717533 written by their chief strategist, Kathy Lien.

FXCM is one of the largest non-bank foreign currency markets that specializes solely in spot FX. It has 78,000 current or former customers and over 400 institutional clients from more than 80 countries.  It has over 500 employees based in offices in New York, Dallas, San Francisco, Hong Kong, and Tokyo, which each provide 24-hour, 7-day-a-week multi-lingual support, including sales, dealing, administrative, and technical support.

It has been awarded Best Retail Platform by FX Week in 2004, and also recognized as Best Currency Broker by both Shares and T2W Member Choice Awards in 2004, and also Best FX Specialist by Stocks & Commodities in 2002, 2003, and 2004.

The firm's CEO is noted for following quote, well known in the retail spot FX industry, according to the [[Wall Street Journal]] (''Currency Markets Draw Speculation, Fraud'' July 26, 2005) "Even people running the trading shops warn clients against trying to time the market. 'If 15% of day traders are profitable,' says Drew Niv, chief executive of '''FXCM''', 'I'd be surprised.' " [http://webreprints.djreprints.com/1276711190447.html]  ⏎
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== External links ==
* [http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0308179 FXCM's NFA BASIC listing]

[[Category:Financial services companies]]
[[Category:Foreign exchange market]]
[[Category:Companies based in New York City]]