Since the beginning of this year, the old foreign exchange broker FXCM has suffered one complaint after another, and the complaint content is nothing more than unable to withdraw gold, malicious explosion, etc., first take a look at the recent typical complaint content.

Fuhui reappearance complaint: the official website can not be opened

Investor A's statement:

After waiting for two weeks, the account did not arrive, and then sent me an email saying that the bank card information was wrong. I mean, it's not a problem if you're making money like this before the crunch. Please review and approve my withdrawal application. FXCM has been complained about the past "ace broker" why did it fall to this point?

Investor B:

Non-farm night data fluctuate greatly, with this burst of mentality to bet on the data. From $3,000 to $150,000, I'm banned from trading at night. The account is frozen. Talk to them. Say it's under review. It's been a few days, and there's been no word. I was wondering how we're gonna handle this.

Other investors:

In February this year, we reported that FXCM has a large area of gold (Related article: FXCM is now a large area of gold can not account investors: Who can trust if FXCM has run away?) Complainants are all over the Fuhui post bar, and now the situation remains unchanged, in the Fuhui bar of Baidu Post bar, there are still a large number of complaints, and the content of investors' complaints has become that the official website cannot be opened.

Fuhui's official public account has been suspended

It is worth noting that the official wechat account of Fuhui was blocked last month due to complaints and can no longer be opened.

The tortuous history of "old broker" FXCM: from glory to decline

Throughout the history of Fuhui, it can be described as "twists and turns". FXCM Group was founded in 1999 in New York, USA. In 2003, FXCM Group began its overseas expansion and opened its first overseas office in London, UK.

FXCM has licenses from mainstream regulators such as the FCA in the UK, ASIC in Australia and the NFA in the US. Its peak moment was in 2005, when FXCM, just two years old, had 70,000 customers, revenue nearly tripled from $65 million two years earlier, and net worth once reached $525 million. Became the largest trader in the United States.

In 2012, FXCM set its sights on China - by acquiring Chinese clients of Gain Capital, FXCM further expanded its market share in mainland China and became "one of the most reliable platforms" in the hearts of mainland Chinese traders.

During this period, FXCM also set up offices in France, Greece and other places.

FXCM's path seemed to be smooth, but in 2015, FXCM suffered a "Swiss franc flash crash", and on January 15, 2015, FXCM announced that its negative balance assets generated in the Swiss Franc incident resulted in a direct loss of $225 million. Before that, in September 2014, FXCM's net assets were only $263 million and after-tax profits were -$5.61 million, and FXCM's closing share price plunged 87.3 percent.

After taking a series of steps, such as waiving the negative balance that about 90% of those customers had to pay, the incident eventually subsided, but FXM was devastated.

Since then, Foo Hui's road has been extremely difficult. In 2017, FXM was revoked as a member of the NFA and permanently banned from re-joining the NFA because of its gambling transactions with customers. After the "Black Swan" incident, facing huge debts and litigation, coupled with declining revenue, Fortune is becoming more and more "old."

Beginning in 2020, there is occasional news of Fuhui gold delay, and in 2021 and 2022, there are more and more complaints about gold delay, "How long can Fuhui go?" The voice also began to appear.

"Watch him rise tall, watch him entertain guests, and watch his building collapse." Although Fuhui has not "collapsed the building", it has already been difficult, from glory to decline, the road of Fuhui is regrettable.

Source: Seray Headlines