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FXCM
{{Infobox_Company |
  company_name   = Forex Capital Markets |
  company_logo   = [[Image:Fxcm logo.gif|FXCM]]|
  company_type   = [[Private company|Private]]|
  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]
}}

== Overview ==

'''FXCM''' supplies online trading services for retail [[speculator]]s in the [[foreign exchange]] market and is one of the largest non-bank Futures Commission Merchants that specializes solely in spot FX. The company has 78,000 clients and over 400 institutional customers from more than 80 countries. Approximately 500 employees, based in offices in New York, London, Dallas, San Francisco, Hong Kong, The West BankJerusalem, and Tokyo, provide 24-hour, multi-lingual sales, dealing, educational, administrative, and technical support 7 days a week.

Forex Capital Markets is entrenched in the bankruptcy proceedings of [[Refco]], Inc (OTC:RFXCQ). Refco, a commodities brokerage that collapsed amid an accounting scandal last year currently owns a 35% share of '''FXCM''', which is now in receivership.

Ownership and regulatory information on FXCM are available at 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]⏎
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== Services ==

The company supplies most of its services through three primary websites: [http://www.fxcm.com FXCM], the company's flagship site; [http://www.fxcmtr.com FXCM Trading Room], which offers numerous resources for trading the market; and [http://www.dailyfx.com Daily FX], which is a leading source for foreign exchange and economic news, as well as information, advice, and resources pertaining to the global currency market.  For new traders, FXCM also provides a variety of learning resources, through such products as the[http://www.fxpowercourse FX Powercourse] and free [http://liveseminar.fxcm.com live webinars].  The firm's Chief Strategists, Kathy Lien and Boris Schlossberg, have published numerous educational resources, including two books: ''Day Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Swings'', 2005, Wiley, ISBN 0471717533 and ''Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment'', 2006, Wiley, ISBN 0471973069, respectively.


== Events ==

FXCM is host to a variety of educational forex events throughout the United States.  June of 2006 marked the first annual CurrencyForex Trading Expo at the Hilton New York, in which thousands of traders participated in live, interactive workshops highlighting the opportunities and associated risks in the forex market.  [[Lawrence Kudlow]], host of CNBC's Kudlow and Company, delivered the keynote address.

On December 9th and 10th 2006, the company will also host the [http://www.fxcmexpo.com Forex Trading Expo] at the [[MGM Grand]] in [[Las Vegas]], Nevada where the world-renowned investor [[Jim Rogers]] is set to address thousands of forex investors from around the country.

== Awards ==

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

== Fines/Administrative Actions ==

'''NFA'''

On November 28, 2005, NFA issued a Complaint charging FXCM with using deficient promotional material that was misleading and fraudulent. FXCM was fined $110,000, and was forced to make changes to its website. To view the complaint and decision, please refer to the following link:  http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0308179&case=05BCC00025&contrib=NFA

'''CFTC'''

Gibraltar Monetary Corporation, an IB of FXCM, was charged with defrauding customers. However, FXCM was found not liable as principal for the misrepresentations made by Gibraltar Monetary Corporation.  Full details of the Commodity Futures Trading Commission injunction against FXCM can be viewed here: http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0308179&case=04-80132&contrib=CFTC ⏎
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== External links ==
*[http://www.fxcm.com FXCM]
*[http://www.fxcmtr.com FXCM Trading Room]
*[http://www.fxpowercourse.com FX Powercourse]
*[http://www.fxcmexpo.com Forex Trading Expo]
*[http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0308179 FXCM's NFA BASIC listing]
*[http://pqasb.pqarchiver.com/wsj/access/1062962011.html?dids=1062962011:1062962011&FMT=ABS&FMTS=ABS:FT&date=Jun+20%2C+2006&author=Joseph+Rebello&pub=Wall+Street+Journal&edition=Eastern+edition&startpage=C.4&type=91_1996&desc=Refco+Creditors+Receive+Clearance+To+Expand+Their+Probe+of+Collapse Refco Litigation]

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