FXCM Discussion

Hi iD,

Thanks for bringing this to my attention, and my apologies for it impacting your backtesting. I checked with tech support, and the data issue occurring on 1 minute and 5 minute demo charts will be resolved this weekend after the market close.

Level 2 tech support is always the best option for reporting technical issues, and can be reached at [email protected].

Jason

Thanks for the prompt reply, Jason.

Can you at least tell me "why" this is happening? What are the causes? Can you be specific, please?

Many of my forward-tests have been invalidated as well because of this and not knowing why it is happening, causes me tremendous concern. This simply cannot happen on a live platform and there has to be a solid explanation as to why this continuously happens.

The other question, based on your reply, is why would a fix take a week to implement? Is it a man-hours issue? Is it a hardware on back-order issue from Dell, or IBM? Are you switching telecom trunks in New York? Is it an IP networking problem (gateway, router, bridge, etc.)? Is it a client/server application bug? Is it a back-office data feed and liquidity pool price aggregation bug/issue/problem?

I really would like to know specially what the problem is and why it has been so persistent on MT4?

However, this is not only happening on the demo servers. This is also happening on your production servers.

http://i41.tinypic.com/35lzvj8.jpg

Another GBPUSD, M1, March 6, 2012.

Help, please!

Regards,
iDouble

Jason,

Don't worry about being too technical in your description. I'll try my best to understand.

Thanks,
iD

Jason,

While I briefly have your attention here, I'd like to ask you (being a representative of FXCM) whether or not it was a conscious decision, or a matter of physical limitation, that FXCM has decided to not provide its customers (traders) with clean, accurate, high-quality historical data for the purpose of back-testing in MT4?

I already know that FXCM does not provide such data, what I'd like to find out is why? Back-testing and Walk-Forward testing go hand-in hand. FXCM has decided to offer Metatrader as a platform (which is a good thing), but has not decided to seriously support those traders who actually use Metatrader, or would like to use Metatrader in their production trading.

I say that because, testing of one's trading system, methodology, tactic, etc., is an unavoidable fact of life as a trader. Having to go off-platform and pull down third-party data that has nothing to do with FXCM data, automatically invalidates any back-test and/or any walk-forward test from the word go. None of those tests are valid - not one of them. All because source data was not used in the test.

So, we can sit here and back-test until we are blue in the face, and it won't amount to anything that's even remotely scientific, or even halfway academic - unless we can get access to source data that comes through the platform that we actually use to execute our trade logic.

My question is based on statements made by FXCM that you are there to help traders succeed (see your websites and your commercials). Yet, one of the most fundamental of all "help" that FXCM could easily provide, is not even on an FXCM product road map as a future development.

Metatrader history data is not accurate - it is the worst available. So, that's not an option. Third-party data solutions do not come from source, so GMT off-sets will completely destroy all valid testing. Dynamic spreads are another reason why third-party data is not useful for back or walk-forward testing. If the time zones are wrong and the spreads are wrong, and the natural market gaps don't match, then using third-party data is a total wast of time, energy and effort - regardless of the data modeling quality that Metatrader claims to produce.

The only viable solution to this problem is for FXCM to start supplying quality historical data to its customers. There is no other real world solution and it is extremely easy to do.

If you need consultation in setting up the Oracle database that FXCM uses, then I can do that for you FREE of charge, as once upon a time, I used to work at Oracle, years ago. I can set-up the DW myself (on-site in New York), or I can consult by phone with your DBA, since there won't be any complicated join criteria or conditions that would call for more complex table structures. The downloads can be set-up as a Web Service for FXCM customer using an DHTML and/or XML/XSLT forms for SQL queries against the various pair tables. The specific Data Request Form can plug-in to your existing MyFXCM web portal, so you get instant built-in security and you get reduce back-end workloads by only allowing FXCM customers to query the tables (database). Of course, you would have a secure native Oracle TNS connection from MyFXCM behind your existing firewall, straight to the Oracle tables. Latency would be extremely low and all the data compression prior to customer download can be handled by Oracle.

You want somebody that understands how this works, Jason. This is easy, and we can have it all done in 3-5 days, maximum. If you bring me out on site, all I ask is that you comp me for normal business expenses (air, hotel and transportation) - I'll pay for my own meals while on-site.

This is not a joke - I'm prepared to drop what I'm doing right now and make my way to the airport with a 24 hour notice from FXCM.

Solving this problem is not hard, Jason. It just takes someone to care enough about it. There are many traders who could benefit from this - so there really is no need for further delay.

Please let me know, if FXCM is willing to take me up on my offer and I will allow FXCM to validate my former employer as being Oracle, among several other enterprise software giants (SAP, former PeopleSoft and former Hyperion Solutions).

I eagerly await your reply and I would enjoy meeting you in person.

Regards,
iD

iD,

FXCM has had historical data available for nearly 2 years now http://forexforums.dailyfx.com/free-...tml#post549446 and you can also export historical data through the Marketscope charting package. The data is provided by the programming services team, and they can be contacted at [email protected] if there's additional data you would like.

Naturally, our goal is always to have a permanent solution in place which is why our systems go through regular maintenance and updates. The fix to the MT4 data gap issue that occurred this week is scheduled to go through this weekend which is when most of our non-critical system maintenance occurs in order to minimize any impact on trading. If you have any technical questions related to the fix please contact tech support. I may not have every answer, but I can help point you in the right direction.

Jason

Hi Jason

I just noticed there's a difference of about 10p in the low of aud/usd, 1h bar 00:00GMT, 08.03.2012 between fxcm charts (live and demo accounts) at 1.0522 and several other brokers i checked with, at 1.0532. I was wondering what happened to those who had stop losses in that 10p interval, let's say at 1.0525. Were they triggered ? Because the market was in actuality not there.

Hi GubyIQ,

The Trading Station platform automatically displays the best bid/ask price from 10+ liquidity providers plus our mark-up. If the traders order price of 1.0525 was quoted, then the order will be filled dependent on liquidity. If you feel there was an error in the pricing, which can happen from time to time if there is a bad tick, please submit a trade audit and the trade will be reviewed for correction if there was an error. Corrections are made to every trade impacted by a bad tick regardless of whether the trader contacts us or not.

Jason

Has anyone had experience trading with FXCM on a tablet, such as the Apple tablet? If so what platform did you use, the Trade Station II, the trading station web, or the mobile FX?

Hi Dcb,

Quick note about trading on an Apple iPad. TS Web and TS Desktop will not work on the iPad since the web platform is built on Flash and the desktop platform is Windows based. FXCM's iPad app is available in the iTunes store here http://itunes.apple.com/us/app/fxcm-...487256956?mt=8 , and will provide a better experience over the iPhone app. The app still lacks some needed features like the ability to add indicators to the charts, but that will be fixed in a soon to be released update.

I would also be interested in any feedback anyone has about the iPad or Android tablet platform.

Jason

Thank you for the information Jason. That tells me what I wanted to know. I have the mobile FX platform on my Android phone, but I only use it to check the status of any open positions I may have. If I enter a trade or modify what I have open, I usually go to my laptop computer.

Can a person leave an open postion on any currency pair over the weekend and still gain a profit or loss? I am aware of keeping the over night week day open position and the interest rate but not the weekend.

Yep, hold for as long as you want literally, but be careful the market could gap up or down 100pips easily on the open, and if thats 80pips below / above your SL then you lose the extra 80pips.

Thank's for the insight. Well,of course we have to keep in mind the lost. But co-exsisting is the profit. I wll be delighted and smiling with a 80+ pip in my favor.

Odds are 50/50 on a move either way, so they'll cancel each other out given enough time no doubt, so ignore it I guess.

As long as you can take a extra 80pips of loss ofcourse, if your trading tight SL's and high risk then not so good, why I don't hold over the weekend.

Justin, I have a standard trading account with FXCM UK and recently I asked for and received micro-lots (minimal trade size 1000).

Now I noticed that I can now set my margin level to 0.25% in MyFXCM, which is equivalent to leverage 400:1, probably because this is the maximum leverage for your microlot account. Is it ok if I enable that (margin 0.25%), even if I have a standard account?

Does it matter how much money I have into the account? Can you say around what account size (tens, hundreds, millions) the 400:1 leverage is not available anymore? Could it be suddenly revoked with the reason that for standard accounts the maximum leverage is 200:1 and me using 400:1 is not ok?

Thanks

It will be great if they are starting to introduce 1:400 in standard account. As far as I know, 1:400 is only offered to micro account, but not standard account.

I just open myFXCM, and 1:200 is still intact.


cheers

Better than the 20:1 or whatever it ended up being all the Free Americans are stuck with!!

Agree!

cheers

Hi Adal,

Micro accounts have the option to select 400:1 leverage through MyFXCM.com, but standard accounts do not. The highest available leverage amount in MyFXCM.com for a standard account is 200:1. There is currently no policy in place that I know of which would revoke the 400:1 leverage amount in a micro account based on your account balance; however, margin levels are always subject to approval by FXCM.

Jason

Jason

Been running a small demo on FXCM new M4 UK...

Its says on the site at http://www.fxcm.co.uk/ no re quotes etc.
But there is a tiny red * IE small print... which says

Re-quotes occur when a trader makes an order at a specific price, but the order is rejected by a trading desk, and the trader is given a new price to accept or reject. Re-quotes can slow down your trading. FXCM cannot re-quote forex orders because those orders operate on straight through processing. FXCM also maintains a no re-quote policy for indices, metals, and oil, although those orders do not operate on straight through processing. Orders are executed at the best price available within the trader's parameters, subject to market liquidity at the time.

Yet even on DEMO I am getting re-quotes and invalid prices in fact today I lost count of the invalid prices. I think it was 7 on the EJ and 6 on the GJ

We all know about liquidity and fast moving markets and order fill etc but.... frankly this week has shown me.... no thanks FXCM (tiger and spots maybe!)

Seeker of the holy grail in trading... (a decent broker)