FXCM made some noise about forgiving 90% clients with negative balances but we’re not convinced it was anything more than PR. They said only ” institutional, high net worth, and experienced traders who generally maintain higher account balances,” would be pursued.
We’ve received numerous notes from people who say they’re still being pursued. Earlier this week, Ryan noted that FXCM was getting heavy on retail negative balances.
Today, we learn that FXCM Asia has amended T&Cs clients liable for debit balances effective March 9.
We think it’s pointless for brokers to chase clients for money they aren’t likely to get as it will damage the future of the industry.
