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  • #2,941
  • Aug 8, 2012 10:49am Aug 8, 2012 10:49am
Quoting pbb
Hi Jason, what's the minimum requirement for an active trader account. It says on your web 50k or 10mln in monthly transaction volume. So, in the latter, what is the minimum initial account opening balance? Besides that can one use all available platforms for an active trader account? Also, it says there is a markup for the spread for the active trader account and a commission based on volume, isn't that double up? Thanks pb
Hi Pbb,

If you've been trading at least 10M per month already, they you can talk to our Active Trader department about using the same balance to get Active Trader pricing. It's available on the FXCM Trading Station, MetaTrader 4, NinjaTrader and our Level 2 Trading Platform. In regards to the transaction costs, Active Trader accounts start with a discount of about 30% compared to retail depending on the pairs you trade. Here's a link with contact info, if you want to speak with a rep in our Active Trader department.

Btw, I notice your forum profile says you live in the Netherlands. Did you catch Epke Zonderland on the high bar the other day? Never seen anything like it!

Jason
  • #2,942
  • Aug 8, 2012 5:38pm Aug 8, 2012 5:38pm
Hi traders,

I am a "Newbie" and I`m looking for a fair broker for swing trading currencies.

I still have a demo account at FXCM and perhaps like to open a standard live account.

Today I read this very long thread about FXCM and I must say I`m very, very confused and don`t know what I can believe or not.

Can someone maybe tell me something about their rollover rates, are they fair or not?
It ain`t no big thing, but it`s growing.
  • #2,943
  • Edited 4:38pm Aug 9, 2012 12:25am | Edited 4:38pm
Quoting Jason Rogers
Hi Pbb,

If you've been trading at least 10M per month already, they you can talk to our Active Trader department about using the same balance to get Active Trader pricing. It's available on the FXCM Trading Station, MetaTrader 4, NinjaTrader and our Level 2 Trading Platform. In regards to the transaction costs, Active Trader accounts start with a discount of about 30% compared to retail depending on the pairs you trade. Here's a link with contact info, if you want to speak with a...
Ok, thanks will take a look at it. I don't have an account with fxcm,was just questioning and see if it's interesting for me.

Epke did great and so did a bunch of others... I saw him a couple of months ago in some interview and he was telling that he was on to something special that no one had ever done before. I hope to see men hockey in the finale's after today's match against the UK, women are already in.

Edit: NED : UK = 9 : 2
  • #2,944
  • Aug 9, 2012 6:47pm Aug 9, 2012 6:47pm
Quoting mctrade
Can someone maybe tell me something about their rollover rates, are they fair or not?
Hi McTrade,

You can see FXCM's live rollover rates on our Trading Station platform in the Advanced Dealing Rates window as shown below. Here's a link to a free practice account you can use to log into the Trading Station.

http://img705.imageshack.us/img705/8...lover2012m.png


The DailyFX Rollover Calendar has information on holidays that affect rollover.

Jason
  • #2,945
  • Aug 10, 2012 5:27am Aug 10, 2012 5:27am
Quoting Jason Rogers
Hi McTrade,

You can see FXCM's live rollover rates on our Trading Station platform in the Advanced Dealing Rates window as shown below. Here's a link to a free practice account you can use to log into the Trading Station.

http://img705.imageshack.us/img705/8...lover2012m.png


The DailyFX Rollover Calendar has information on holidays that affect rollover.

Jason

Thank you Jason, I found the rollover rates in the Trading Station.

The Rollover Callendar is also a nice tool to have an overview about the rates.

I have another question to you Jason:

Is there a tool, an indicator or something like that for calculating the position size in % from the account balance for each trade in the charts before entering a trade?

For the Trading Station 2 I mean.

I know for MT4 there`s an expert advisor called "visual position size calculator".In the settings you can set for example 2 % of the balance.
Then you can move your stop loss in the charts and it shows you the lot size for the trade according to the 2 % of the account balance.

Sorry, but my english isn`t perfect, but I hope you can understand what I mean Jason.
It ain`t no big thing, but it`s growing.
  • #2,946
  • Aug 10, 2012 3:42pm Aug 10, 2012 3:42pm
Quoting mctrade
Thank you Jason, I found the rollover rates in the Trading Station.

The Rollover Callendar is also a nice tool to have an overview about the rates.

I have another question to you Jason:

Is there a tool, an indicator or something like that for calculating the position size in % from the account balance for each trade in the charts before entering a trade?

For the Trading Station 2 I mean.

I know for MT4 there`s an expert advisor called "visual position size calculator".In the settings you can set for example 2 % of the balance.
Then...
Hi McTrade,

The Trading Station does not have a built in feature for the charts like the one you describe, but that's a good suggestion. I've passed it onto our developers. Who knows? They might be able to include it in a future update of the platform. For now, you would need to use a separate position size calculator like this, if you are placing trades on the Trading Station.

Jason
  • #2,947
  • Aug 10, 2012 4:40pm Aug 10, 2012 4:40pm
Quoting Jason Rogers
Hi McTrade,

The Trading Station does not have a built in feature for the charts like the one you describe, but that's a good suggestion. I've passed it onto our developers. Who knows? They might be able to include it in a future update of the platform. For now, you would need to use a separate position size calculator like this, if you are placing trades on the Trading Station.

Jason
Thank you very much Jason,

that would be a nice useful feature in the Trading Station 2.

Best Regards.
It ain`t no big thing, but it`s growing.
  • #2,948
  • Aug 13, 2012 5:36pm Aug 13, 2012 5:36pm
Last Thursday the CFTC held a public hearing to determine what steps should be taken to repair the damage done by the bankruptcies of PFG and MF Global. I’d like to share with everyone some of the highlights of the hearing:

Better Accounting Standards: There was much discussion of auditing standards for both Regulators of FCM’s and the CPA’s who audit FCM’s. There was general agreement these standards need to be raised. FXCM believes FCM’s should be required to use a top accounting firm to avoid the kind of accounting issues that plagued PFG.

Additional Disclosure Requirements: An extensive discussion on FCM transparency was held and it is clear that FCM’s are going to have to make more disclosures of their books to regulators and to the public. The question is how much is to be disclosed? On the one hand there was testimony from FCM’s like Vision who publish their balance sheet on their website and on the other hand were those who were concerned that too much disclosure could lead to possible “bank runs” by investors. FXCM believes investors should be able to see a company’s audited financial statement once a quarter. Too many investors are forced to fly blind when they choose a Futures Commission Merchant or Forex Dealer. No trader should be subjected to this kind of risk post-PFG.

Insurance: Commissioner Bart Chilton released his proposal for a futures insurance fund on the same day of the hearing. Towards the end of the Roundtable the topic turned to insurance and John Roe of the Commodity Customer Coalition once again made a forceful case for a fully insured fund for the futures industry. As of now, Commissioner Chilton’s proposal does not include retail forex, but there is no reason that it shouldn’t. FXCM supports insurance for the futures/forex industry.

The CFTC will now deliberate into October before announcing their proposals. We encourage everyone to comment using the link below:

http://comments.cftc.gov/PublicComments/CommentForm.aspx?id=1250
  • #2,949
  • Aug 13, 2012 5:50pm Aug 13, 2012 5:50pm
Quoting FCM-Reform
Last Thursday the CFTC held a public hearing to determine what steps should be taken to repair the damage done by the bankruptcies of PFG and MF Global. I’d like to share with everyone some of the highlights of the hearing:

[size=3][font=Calibri]Better Accounting Standards: There was much discussion of auditing standards for both Regulators of FCM’s and the CPA’s who audit FCM’s. There was general agreement these standards need to be raised. FXCM believes FCM’s...
so the isurance fund are only for the future industry, what rules and regulation is being taken to protect forex traders money, this is very misleading because all of these new rules are aim at future traders and has nothing to do with protecting forex traders
  • #2,950
  • Aug 13, 2012 8:06pm Aug 13, 2012 8:06pm
Hi Jason. I have an idea to make entering trades quicker in TS2. I often have situations where I am watching for a trend line break (or whatever) and when the time comes to enter a trade I end up scrambling to get in. I have an idea to create an "entry preparation center" where we can have trades ready to go, and all we have to do when the time comes is to press an order submission button. So instead of right clicking the chart or however others do it, and entering everything into the ticket, we can have everything already entered and ready to go. Here's something I made with Snagit to give you a clear understanding of what I'm saying.

http://i1185.photobucket.com/albums/...CenterFXCM.png

What do you think?
Get money, don't let money get you. @kauaiforex
  • #2,951
  • Aug 14, 2012 12:24am Aug 14, 2012 12:24am
Quoting mctrade
Hi traders,

I am a "Newbie" and I`m looking for a fair broker for swing trading currencies.

I still have a demo account at FXCM and perhaps like to open a standard live account.

Today I read this very long thread about FXCM and I must say I`m very, very confused and don`t know what I can believe or not.

Can someone maybe tell me something about their rollover rates, are they fair or not?
I had a demo with FXCM as well, execution was good. When u will manage a real one, share your experience here pls, interesting to know
  • #2,952
  • Aug 14, 2012 9:34am Aug 14, 2012 9:34am
Quoting PoundTrader
so the isurance fund are only for the future industry, what rules and regulation is being taken to protect forex traders money, this is very misleading because all of these new rules are aim at future traders and has nothing to do with protecting forex traders
You are correct PoundTrader. Retail forex traders are not being included in the discussions at the moment. This despite the fact that thousands of retail forex trading accounts at PFG are currently trapped in bankruptcy. That's why it is important forex traders send comments to CFTC in support of greater protections for forex traders.
  • #2,953
  • Aug 14, 2012 10:25am Aug 14, 2012 10:25am
so why suport a reform that only support future traders and not forex traders who side are you on
  • #2,954
  • Aug 14, 2012 11:08am Aug 14, 2012 11:08am
Quoting PoundTrader
so why suport a reform that only support future traders and not forex traders who side are you on
We want reforms for forex traders. Our goal is to include forex traders in the discussion and the proposals, which is very hard unless the public contacts CFTC to let them know that forex traders also need to be protected.
  • #2,955
  • Edited Aug 15, 2012 12:40pm Aug 14, 2012 1:31pm | Edited Aug 15, 2012 12:40pm
Quoting Suomi
I had a demo with FXCM as well, execution was good. When u will manage a real one, share your experience here pls, interesting to know
Hi Suomi,

thanks for your post.

Yes I will share my experience here when going with a live account, no problem.

But I´m not sure at the moment if I should go live with them.

All seems really good:

They are a big firm with many customers worldwide, they are regulated, the money seems to be safed in segregated accounts, they have a good support team, the Trading Station 2 looks like a nice modern trading platform etc.

But as I said, I´m not sure at the moment if this broker buiseness model is the right thing for me because it is spread based and not commission based for smaller accounts.

I`ve traded the demo account now for two weeks and sometimes when I opened a position it seems to be to late because of the spread.
Ok, I´m a swing and position trader, so therefore this is not a bigger problem.

But what I´ve seen now is, that sometimes my stop loss will be triggered and I was stopped out, but the market price was still 3-5 pips away from my stop loss.

So this is the thing I`m thinking about now.

MARKET MAKER, DEALING DESK, NDD - NO DEALING DESK, REAL INTERBANK MARKET, COMMERCIAL MARKET; HYBRID RETAIL MARKET, STP - STRAIGHT THROUGH WHATEVER, ECN, COUNTERFEIT/PSEUDO ECN WITH UNNAMED THIRD PARTY LIQUID PROVIDERS ACTING AS MARKET MAKERS, DMA - DIRECT MANIPULATION ACCESS , AGGREGATION ALGOS, DEALER PLUGINS, SERVER BASED BACKEND MANIPULATIONS, BROKERS AGENDAS FOR CATCHING THE RETAIL TRAIDERS WITH GIVING FREE WEBINARS AND TEACHING THE BEGINNERS TO TRADE IN 5 MINUTE CHARTS WITH 500 : 1 LEVERAGE, BONUS GIMMICKS etc, etc:

I still don`t know what I can believe from the brokers or what other peoples talk about.
I don`t care about how a broker makes his money, with spreads or commisions.

But he has to be fair and transparent.


Sorry for these words here and nothing against FXCM,

but I´m tired of searching for fair and reliable brokers and testing them in endless ways.


Has anyone an idea, why the stopp losses sometimes be triggered when markets price is 3-5 pips away?

I don`t know.


Best Regards.
It ain`t no big thing, but it`s growing.
  • #2,956
  • Aug 14, 2012 2:16pm Aug 14, 2012 2:16pm
Quoting mctrade
But what I´ve seen now is, that sometimes my stop loss will be triggered and I was sopped out, but the market price was still 3-5 pips away from my stop loss.

I bet it happens more when your shorting right ??? your chart your looking at is based on the BID price, so ASK price is say 3pips more if short then you get stopped out at the ASK which is completely fair, always added 3 pips to the SL when shorting.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,957
  • Edited 4:42pm Aug 14, 2012 2:41pm | Edited 4:42pm
Quoting Turveyd
I bet it happens more when your shorting right ??? your chart your looking at is based on the BID price, so ASK price is say 3pips more if short then you get stopped out at the ASK which is completely fair, always added 3 pips to the SL when shorting.

Hi Turveyed,

thanks for your post first.

Hmm, you mean this is because of the BID and ASK price.

You might be right, I don`t know it at the moment now.

So can you please explain to me what I have to do when opening a position?

Does this mean when I want to open a long position that I have to switch my charts to the ASK price?

And when I want to open a short position I have to switch the charts to the BID price?


My most important question is, what does this mean when markets are very volatile?

Is it possible that in volatile markets my stop losses can be triggered
10 or more pips away from markets price?
It ain`t no big thing, but it`s growing.
  • #2,958
  • Aug 14, 2012 5:42pm Aug 14, 2012 5:42pm
Quoting NoJobRob
Hi Jason. I have an idea to make entering trades quicker in TS2. I often have situations where I am watching for a trend line break (or whatever) and when the time comes to enter a trade I end up scrambling to get in. I have an idea to create an "entry preparation center" where we can have trades ready to go, and all we have to do when the time comes is to press an order submission button. So instead of right clicking the chart or however others do it, and entering everything into the ticket, we can have everything already entered and ready to...
Hi Rob,

I like it Sort of a combination of the One-Click Trading feature and Trading from the Charts. I'll pass your suggestion onto the programmers.

Thanks,
Jason
  • #2,959
  • Aug 14, 2012 6:54pm Aug 14, 2012 6:54pm
Quoting mctrade
Hi Turveyed,

thanks for your post first.

Hmm, you mean this is because of the BID and ASK price.

You might be right, I don`t know it at the moment now.

So can you please explain to me what I have to do when opening a position?

Does this mean when I want to open a long position that I have to switch my charts to the ASK price?

And when I want to open a short position I have to switch the charts to the BID price?


My most important question is, what does this mean when markets are very volatile?

Is it possible that in volatile markets my stop...
If you go Long you buy at the ask say 1.0000 and sell at the bid which at the time would be 0.9997, so put a SL at 0.9990 when your chart / bid hits 0.9990 then your out.

If you go Short you sell at the bid say 0.9997 and close at the Ask which at the time would be 1.0000, so put a SL at 1.0007 when the chart/bid hits 1.0004 then your out.

Ofcourse at times your Spread increases like at night to 6+ pips.

It's likely not FXCM screwing you over, your just missing the close shorts at the ask which you don't see on your chart, I often forget to add 3 pips to shorts.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,960
  • Aug 15, 2012 4:19am Aug 15, 2012 4:19am
Quoting Turveyd
If you go Long you buy at the ask say 1.0000 and sell at the bid which at the time would be 0.9997, so put a SL at 0.9990 when your chart / bid hits 0.9990 then your out.

If you go Short you sell at the bid say 0.9997 and close at the Ask which at the time would be 1.0000, so put a SL at 1.0007 when the chart/bid hits 1.0004 then your out.

Ofcourse at times your Spread increases like at night to 6+ pips.

It's likely not FXCM screwing you over, your just missing the close shorts at the ask which you don't see on your chart, I often forget...
Thanks for your response Turveyd,

ok I understand, it is the BID and the ASK price.

Will see how I can handle it in the demo account.

Best Regards.
It ain`t no big thing, but it`s growing.
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