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Peeling The Onion Of FXCM's Misleading Marketing

"Policy" or "Guarantee"

In my last article and the one which preceded it, I started to explore how [[FXCM]]'s attempt to solicit funds from customers with negative balances seemed to contradict its marketing language. After the first article, "senior FXCM UK staff," quoted in a Seeking Alpha instablog, allegedly claimed:

"It is indeed FXCM's policy to refund its traders' accounts to a zero balance should they go negative on trades. However, just quoting this statement in isolation and claiming indemnity, is a bit too simplistic."

In response, I posted a link to an official FXCM marketing video on YouTube (which the company has since removed), in which their "policy" was clearly referred to as a "guarantee." It has subsequently come to my attention that what they now assert was merely a "policy" was repeatedly marketed to customers as a "guarantee" across multiple geographies.

In Asia, their (ironically… Read More …