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FXCM Discussion

  • #7,501
  • Apr 2, 2015 9:50am Apr 2, 2015 9:50am
Attached Image
http://forexmagnates.com/fxcm-inc-an...leucadia-loan/
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #7,502
  • Apr 2, 2015 10:33am Apr 2, 2015 10:33am
Quoting mybest
Dear Jason, did you have (I am sure you have), or can you show statistics of your customers year by year?
Yes Mybest, since we are a publicly-traded company (NYSE ticker: FXCM) such statistics are available to you on our Investor Relations website. Just click on OPERATING METRICS and look at our "Retail Active Accounts" or "Retail Tradeable Accounts".
  • #7,503
  • Apr 2, 2015 12:36pm Apr 2, 2015 12:36pm
Quoting Phylo
{image}http://forexmagnates.com/fxcm-inc-an...leucadia-loan/
Yes Phylo, the payment was funded in part with proceeds from the sale of FXCM Japan. We have now repaid $66 million under the credit agreement, and as of April 1, 2015, the outstanding Leucadia loan balance is $244 million.

Our CEO Drew Niv had this to add as part today's announcement: "FXCM is pleased with how our debt reduction plan is proceeding. We are ahead of plan and the results of the FXCM Japan sale exceeded our expectations. With all the increased attention to our other properties, we are expecting robust and competitive auctions for the other non-core assets we have targeted to sell."


http://i.imgur.com/SjOCUih.png



We anticipate making an additional repayment of approximately $12 million towards the credit facility in the coming weeks.
  • #7,504
  • Apr 2, 2015 4:00pm Apr 2, 2015 4:00pm
Jason, can you explain why FXCM's mt4 charts are still not displaying your bid/ask prices accurately?
  • #7,505
  • Apr 2, 2015 5:27pm Apr 2, 2015 5:27pm
Quoting philtre71
Jason, can you explain why FXCM's mt4 charts are still not displaying your bid/ask prices accurately?
Hi Philtre,

As a matter of fact, I spoke with one of our programmers about this issue just this week, and he updated me on a solution his team is implementing. I will let you know just as soon as it's available. In the meantime, it's worth noting that since our old pricing used fixed markups, the difference between the MT4 chart price and the Bid/Ask is constant. This fact can be used when looking at our MT4 charts. For example, with EUR/USD the old markup was 1.1 pips.


To determine the fixed markup for a different currency pair, look at the Bid and Ask you see in your Market Watch window and compare them to the prices you see on a 1-minute MT4 charts. For example, in the chart below which still shows the old pricing, you can see a spread of 2.2 pips for EUR/USD while the FXCM spread you can actually trade on is 0 pips. That indicates that the chart Bid and Ask have each had a 1.1 pip markup added.

http://i.imgur.com/YOFxX1G.png

  • #7,506
  • Apr 2, 2015 5:32pm Apr 2, 2015 5:32pm
Below are the CFD holiday trading hours for Easter and ANZAC Day. Forex trading hours remain unchanged, and you can view the holiday rollover interest schedule here: http://bit.ly/14Wwoso

Times below are in GMT

http://i.imgur.com/6CJ9td1.png

  • #7,507
  • Apr 3, 2015 5:24am Apr 3, 2015 5:24am
Thanks Jason. It's just getting a bit frustrating looking at charts and having to keep an eye on the bid/ask in a different window, rather than what's showing on the chart!

Phil
  • #7,508
  • Apr 3, 2015 10:10am Apr 3, 2015 10:10am
Hello Jason,


you wrote me in PM that you would come back to me regarding the issues here:

http://www.forexfactory.com/showthre...31#post8144631

 

  1. MT4 does not receive the swap long/short information by FXCM in live accounts. In demo accounts it works fine.
    (MarketInfo(Symbol(), MODE_SWAPLONG) or MarketInfo(Symbol(), MODE_SWAPSHORT)
  2. FXCM does not provide the correct tick value in EUR denominated accounts for USD denominated CFDs on MT4.
    The tick value of MarketInfo(Symbol(), MODE_TICKVALUE) is 1 instead of 0.9whatever.
  3. BID/ASK line in MT4 is wrong.
  4. The commission for currency trades is booked into the equity as an account withdrawal instead of the field "Commission" in MT4.
    Those kind of withdrawals are not compatible with any statistical tool I know of.
    They even might be considered as taxable income in Germany which makes FXCM unfit for currency trading there.
  5. The same of 4. is for swap/rollover. There is a field in MT4 for swap

    NEW:
  6. GER30 has two digits in demo and zero digits in live. What's the point of this difference?
  7. How are reimbursements due to a rightful complaint calculated?

Thanks in advance

  • #7,509
  • Apr 3, 2015 10:51am Apr 3, 2015 10:51am
Quoting philtre71
Thanks Jason. It's just getting a bit frustrating looking at charts and having to keep an eye on the bid/ask in a different window, rather than what's showing on the chart! Phil
#Post 7,175 may be of help.
Attached Image
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #7,510
  • Apr 3, 2015 5:22pm Apr 3, 2015 5:22pm
Quoting Naddmer
Hello Jason, you wrote me in PM that you would come back to me regarding the issues here: http://www.forexfactory.com/showthre...31#post8144631 MT4 does not receive the swap long/short information by FXCM in live accounts. In demo accounts it works fine. (MarketInfo(Symbol(), MODE_SWAPLONG) or MarketInfo(Symbol(), MODE_SWAPSHORT) FXCM does not provide the correct tick value in EUR denominated accounts for USD denominated CFDs on MT4. The tick value of MarketInfo(Symbol(), MODE_TICKVALUE) is 1 instead of 0.9whatever. BID/ASK...
Hi Naddmer,

I'm still waiting for more details regarding some of the questions you asked and will let you know as I receive more information. In regards to question 4, as I mentioned to Phil, we are working on a solution for this: http://www.forexfactory.com/showthre...37#post8182437

As for question 7, when you file a trade inquiry, your case is investigated by the Trade Services Team. If they find there was an error in our trade execution that negatively impacted your trade, they will make the appropriate correction which can vary depending on the specifics of the case.
  • #7,511
  • Apr 3, 2015 5:22pm Apr 3, 2015 5:22pm
Quoting Phylo
{quote} #Post 7,175 may be of help. {image}
Thanks for sharing that info, Phylo
  • #7,512
  • Apr 3, 2015 5:28pm Apr 3, 2015 5:28pm
Quoting Phylo
Peculiarity of FXCM MT4 dual spreads Two Ask and two Bid (two for the price of one !) 1st Ask: Gray top solid line corresponds to chart default Ask. Proof: The color of this line can be changed from → Properties (F8) → Colors → Ask Line. 1st Bid: Gray bottom solid line corresponds to chart default Bid. Proof: The color of this line can be changed from → Properties (F8) → Colors → Grid. The Red Candle confirms Bid at bottom solid line. *** 2nd Ask: Green upper dash-line corresponds to the order panel BUY and is...
Thanks Phylo.....that's a huge help. Hopefully FXCM will get this sorted soon.
  • #7,513
  • Edited 12:39pm Apr 4, 2015 12:51am | Edited 12:39pm
Quoting Jason Rogers
{quote} As for question 7, when you file a trade inquiry, your case is investigated by the Trade Services Team. If they find there was an error in our trade execution that negatively impacted your trade, they will make the appropriate correction which can vary depending on the specifics of the case.
Hi Jason,


thank you very much for your swift reply.

But can you be more specific regarding the "correction" thing in question #7, please by taking the following assumptions:

  1. Assume the situation like March 19th described here: http://www.forexfactory.com/showthre...16#post8150916
  2. Assume that a long trade had been opened in US30 at 17950 with a stoploss at 17930 which means an accepted risk of 20 points.
  3. The US30 gaps down from 17950 through to 17810 reaping 140 points of loss.

Is the correction done like:

  1. 140 - 20 = 120 Points as 20 points were the accepted risk
  2. 140 Points as the stoploss of 17930 was never reached in the next 24 hours after the gap
  3. 140 points plus 2*spread?
  4. Reinstate the trades which were stopped out
  5. Some other way - which you kindly describe in your reply


Thanks in advance for clarification.

  • #7,514
  • Apr 4, 2015 1:50am Apr 4, 2015 1:50am
This happens allllllllllllllllll the time fxcm really is something magical.

http://i.imgur.com/y3ItJCA.png
Pursuit of happiness
  • #7,515
  • Edited 11:45am Apr 4, 2015 11:34am | Edited 11:45am
Quoting surferncbad
Hi All, Just a quick update on FXCM's trade audit practice. Per Jason's recommendation, I filed two trade audits with FXCM with them finding on both occasions in my favor and crediting my account the disputed difference. Although they didn't provide any real specifics on what caused the issues on my trade(just boilerplate generalities), they did investigate and credit my account.
Quoting Profit Daily
{quote} It's a numbers game. Do it to as many people as possible. Only a certain % will take action. They may be new, nave, or just not know how to report it. Believe it or not, some may not even compare the chart with other brokers. Don't give them to much credit, you just happened to follow through, not everyone will. This company is attempting to pay back a 225 million dollar loan, they have brought back their dealing desk model, I just find it so hard to believe otherwise intelligent people are so nave when it comes to forex brokers. Do your...
Quoting HiddenGap
{quote} If they are not in the US, then they are not options. If a trader has the money to move outside the US to trade, then he or she is better off opening a futures account and trading the ES with the big boys.
Quoting Profit Daily
{quote} Don't really want to get into why spot is ten times better than futures, so I won't. However, it's funny you mention it, as that is exactly what the NFA is hoping to accomplish with all of their ridiculous regulations. Move everyone back to futures. Do you realize the decline in futures trading since spot became so popular. This is the real reason behind the " so called protect us from ourselves" regulations. US forex traders do not have anything close to the same opportunity as the rest of the world.
Quoting HiddenGap
{quote} This is not the appropriate thread for this discussion. I'm sending you a PM.
Repetition, Repetition, Repetition!

HiddenGap,

Your posts are a prime example of exactly why this discussion is appropriate to this USA broker's thread! Repetition is the "Mother of Learning".

Being a public traded company, having all the financial backing in the world, being regulated by the CFTC and NFA....., not being allowed to let traders hedge, not being allowed to let traders pick the order of closing orders, not being allowed to offer traders choice of leverage, not being allowed to accept account deposits by credit card, not being allowed to....._____(fill in the blank),.........all these "benefits" for traders from FXCM as a USA broker are NOTHING compared to the benefits of some offshore brokers!

For newbies to this thread and for slow learning oldies, keep up the repetition, Profit Daily.

tah
  • #7,516
  • Apr 6, 2015 11:14am Apr 6, 2015 11:14am
I have a FXCM account and sitting here in from of my computer looking at my chart and wondering; How in the hell is anybody trading with this broker. If there is any movement of volatility the chart freezes. I mean a slight volatility freezes the chart. Is this only happening to me because I have a winning ratio? Any recommendations would be appreciated!
  • #7,517
  • Apr 6, 2015 5:56pm Apr 6, 2015 5:56pm
Quoting Naddmer
{quote} Hi Jason, thank you very much for your swift reply. But can you be more specific regarding the "correction" thing in question #7, please by taking the following assumptions: Assume the situation like March 19th described here: http://www.forexfactory.com/showthre...16#post8150916 Assume that a long trade had been opened in US30 at 17950 with a stoploss at 17930 which means an accepted risk of 20 points. The US30 gaps down from 17950 through to 17810 reaping 140 points of loss. Is the correction done like: 140 - 20 =...
Hi Naddmer,

While can't comment on how a specific case would be handled, if you have a real trade that you would like investigated, then you can file a trade inquiry, and the Trade Services Team will review it for you.
  • #7,518
  • Apr 6, 2015 6:16pm Apr 6, 2015 6:16pm
Quoting h4xforum
I have a FXCM account and sitting here in from of my computer looking at my chart and wondering; How in the hell is anybody trading with this broker.
Hi H4xforum,

As of the latest publicly-available data, there are over 190,000 active retail accounts trading with FXCM. If you're implying that the freezing of your charts is something deliberate on our part, then you would be mistaken. Our tech support team would happy to help you determine the actual cause.

Quoting h4xforum
If there is any movement of volatility the chart freezes. I mean a slight volatility freezes the chart. Is this only happening to me because I have a winning ratio? Any recommendations would be appreciated!
On our No Dealing Desk (NDD) forex execution model, FXCM makes from your trading volume, so we want you to be able to place your orders. Furthermore, since FXCM offsets each of your orders one-for-one with the best prices from competing liquidity providers, we don't profit from your losses or lose from your profits. Therefore, we want you to be profitable so you will continue trading with us.

Quoting h4xforum
Any recommendations would be appreciated!
I recommend that you speak with one of our tech specialists so they can take a look at the setup of your platform to see what could be causing the issues you described. Just recently, they were able to help one of our other clients as he confirmed in this post: http://www.forexfactory.com/showthre...77#post8143977

To schedule a tech call, please send me a private message with your contact details.

Thanks,
Jason
  • #7,519
  • Edited 7:04pm Apr 6, 2015 6:29pm | Edited 7:04pm
Quoting Poh
This happens allllllllllllllllll the time fxcm really is something magical. {image}
Hi Poh,

Actually, a study of 43,128,901 trades executed through FXCM over a six month period from August 2013 to January 2014 found that 53.32% of all stop and stop entry orders received negative slippage. However, the same study showed that over 60% of all limit and limit entry orders received positive slippage. That's due to the momentum of price movement when such order types are triggered. Stop orders are triggered when the price is moving against your trade, while limit orders are triggered when the price is moving in favor of your trade.

The 6-month study of trades executed through FXCM also revealed the following:

  1. 73% of all orders had no slippage.
  2. 15% of all orders received positive slippage.
  3. 12% of all orders received negative slippage.

In those 6 months alone, FXCM clients benefited from over $15 million in positive slippage.

On FXCM's No Dealing Desk (NDD) forex execution, we don't profit from your losses or lose from your profits. Instead, we make money off your trading volume and offset each of your orders one-for-one with the best available prices from competing liquidity providers.

It's worth noting that the Market Range feature on our Trading Station platform and the Enhanced* Maximum Deviation feature on our MT4 platform allow FXCM clients to limit the amount of negative slippage they receive, while still enjoying the full benefits of any positive slippage that's available.

* On the MT4 platforms of some other brokers, the Max Dev feature is unavailable, or if it is available, then it will limit both your negative slippage and your positive slippage equally. By contrast, FXCM enhanced how Max Dev works on our MT4 platform allowing you to limit your negative slippage while still enjoying the full benefits of any positive slippage.

  • #7,520
  • Apr 6, 2015 10:25pm Apr 6, 2015 10:25pm
Quoting Jason Rogers
{quote} Hi H4xforum, As of the latest publicly-available data, there are over 190,000 active retail accounts trading with FXCM. If you're implying that the freezing of your charts is something deliberate on our part, then you would be mistaken. Our tech support team would happy to help you determine the actual cause. {quote} On our No Dealing Desk (NDD) forex execution model, FXCM makes from your trading volume, so we want you to be able to place your orders. Furthermore, since FXCM offsets each of your orders one-for-one with the best prices from...

Thanks for your reply! Honestly, I am considering exiting the FXCM platform. However, a try as your recommendation it will be done; hoping for the best.
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