FXCM: This Equity Is Nearly Worthless Summary •FXCM shares have rallied to a valuation far beyond what is justified based on its prior earnings power. •Its forward value will be harmed by more regulation and reputational damage. •Shares should trade for less than $1/share. http://seekingalpha.com/article/2842986-fxcm-this-equity-is-nearly-worthless I'll keep this simple. FXCM (NYSE:FXCM) shares are near worthless.