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  • #9,541
  • Oct 7, 2016 3:29am Oct 7, 2016 3:29am
@Jason: About the pound tonight... FXCM is ok ?

bye
8flow
  • #9,542
  • Oct 7, 2016 4:15am Oct 7, 2016 4:15am
Why do so many orders get rejected? I would say roughly 30% of my entries are rejected.
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  • #9,543
  • Oct 7, 2016 9:25am Oct 7, 2016 9:25am
Quoting 8Flow
@Jason: About the pound tonight... FXCM is ok ? bye 8flow
Hi 8Flow, below is info from our official release: http://ir.fxcm.com/releasedetail.cfm?ReleaseID=992668

FXCM Makes Special Announcement Following GBP Flash Crash

Financial Position Remains Solid

Trading Platform Functioned Normally

NEW YORK, Oct. 07, 2016 (GLOBE NEWSWIRE) -- FXCM Inc. (NASDAQ:FXCM) ("FXCM" or "the Company"), a leading online provider of foreign exchange (FX) trading and related services, announced that FXCM's systems and operations functioned without material adversity during the GBP Flash Crash. FXCM's risk committee will continue to closely monitor market movements.
  • #9,544
  • Oct 7, 2016 9:36am Oct 7, 2016 9:36am
Whats the lowest price FXCM filled a client?
  • #9,545
  • Edited 10:06am Oct 7, 2016 9:44am | Edited 10:06am
A wonderful day for all forex brokers who had a field day on their B books accounts.
Raiding those accounts must have been like a feeding frenzy ...
For FXCM it will help pay some of the debt...

https://en.wikipedia.org/wiki/All_yo...e_belong_to_us
  • #9,546
  • Oct 7, 2016 10:21am Oct 7, 2016 10:21am
Quoting forexvert
{quote} what broker did you end up chosing that is better than FXCM. youve must of had bad experience with them..
I'm demo testing Global Prime. So far so good. No dirty tricks like FXCM. But I'm mostly now trading futures. As it's a centralized market, brokers can't play with you.
  • #9,547
  • Oct 7, 2016 11:19am Oct 7, 2016 11:19am
Quoting forexvert
{quote} how do you use the simulation package in your advantage?
It allows you to trade historical price events for many different forex pairs at different time frames and time intervals, just as you would trade in real time using the platform's features, it has a couple of bugs but its generally a great tool to practice and hone in your trading strategy.

But back to the flash crash, anybody else had a GBP paired stop or limit order that was filled at 23:07 GMT yesterday ?
If so, what was your order price and fill price ? Just curious , like I wrote earlier , the limit order price on my short GBPCAD trade was @ 1.6603 with an almost instantaneous fill @ 1.6602, while the pair was actually trading at a price well below 1.6
  • #9,548
  • Oct 7, 2016 3:12pm Oct 7, 2016 3:12pm
Got Stopped at
1.19612 07/10/2016 07:08
1.16108 07/10/2016 07:09
1.13648 07/10/2016 07:09
  • #9,549
  • Oct 7, 2016 11:59pm Oct 7, 2016 11:59pm
Quoting Jason Rogers
{quote} Hi 8Flow, below is info from our official release: http://ir.fxcm.com/releasedetail.cfm?ReleaseID=992668 FXCM Makes Special Announcement Following GBP Flash Crash Financial Position Remains Solid Trading Platform Functioned Normally NEW YORK, Oct. 07, 2016 (GLOBE NEWSWIRE) -- FXCM Inc. (NASDAQ:FXCM) ("FXCM" or "the Company"), a leading online provider of foreign exchange (FX) trading and related services, announced that FXCM's systems and operations functioned without material adversity during the GBP Flash Crash. FXCM's risk...
So I'm guessing that FXCM's new safety measures (I forget, what were those safety measures again?), kicked in within nanoseconds of the GBPUSD flash crash. But other than helping FXCM, did those measures help traders from getting large negative accounts?
  • #9,550
  • Oct 8, 2016 3:27pm Oct 8, 2016 3:27pm
Quoting Aad
{quote} So I'm guessing that FXCM's new safety measures (I forget, what were those safety measures again?), kicked in within nanoseconds of the GBPUSD flash crash. But other than helping FXCM, did those measures help traders from getting large negative accounts?
Nope... just hundreds and hundreds of nightmares such as this:

"I was a novice and had not placed sl. My acct of 15k was wiped out with 8k -ve equity! My long gbp was closed out at 1.106."
  • #9,551
  • Oct 8, 2016 10:21pm Oct 8, 2016 10:21pm
Quoting Mingary
{quote} Nope... just hundreds and hundreds of nightmares such as this: "I was a novice and had not placed sl. My acct of 15k was wiped out with 8k -ve equity! My long gbp was closed out at 1.106."
Unfortunately in these type of events even a stop loss might not be much help, specially if a stop loss is placed far from the current market price before some type of crash. I think I've herd traders talking about how their stops were simply skipped over do to insane price gaps. What can FXCM do about that, I'm sure Jason would basically say nothing can be done.

So who's really at fault here; the naive trader, the broker, the banks/LP's, or all? We should all know how rigged the financial system is, where one hand washes the other and any trader that doesn't understand the den of vipers they're trading with shouldn't be trading in the first place. Since sadly it seems that in trading all this is basically normal operandi and if you can't stand the heat then it's best that you get out the kitchen sort of speak. Because unless you're one of those too big to fail institutions, don't expect to get bailed out...
  • #9,552
  • Oct 10, 2016 5:14am Oct 10, 2016 5:14am
fxcm is a good broker its has low spread best execution but withdraw taken more time.
  • #9,553
  • Oct 10, 2016 10:22am Oct 10, 2016 10:22am
I noticed on the MT4 servers, it had a regular FXCM "USDReal" and one that I have not seen "MT4-2.0-USDReal" What is the difference?
I love forex. One day it will love me back.
  • #9,554
  • Oct 10, 2016 10:50am Oct 10, 2016 10:50am
Quoting Aad
{quote} Unfortunately in these type of events even a stop loss might not be much help, specially if a stop loss is placed far from the current market price before some type of crash. I think I've herd traders talking about how their stops were simply skipped over do to insane price gaps. What can FXCM do about that, I'm sure Jason would basically say nothing can be done. So who's really at fault here; the naive trader, the broker, the banks/LP's, or all? We should all know how rigged the financial system is, where one hand washes the other and any...
The reality is, in the two recent events that come to mind.......Why was anyone short CHF and why on earth was anyone long GBP? Once those questions are answered, we can determine who is at fault.

the issue I have is this....my "unregulated", ECN broker did not freeze at all during the GBP fall the other day, while the "regulated" MM Oanda (not sure about FXCM) froze the platform so those short couldn't close with profit and of course those long GBP lost. What exactly does the CFTC regulate when behavior like this is allowed?
  • #9,555
  • Oct 10, 2016 2:09pm Oct 10, 2016 2:09pm
Hi Jason, any particular reason the USD/MXN opened 3 hours and 40 minutes later this week? Both on demo and real accounts.
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  • #9,556
  • Oct 10, 2016 2:58pm Oct 10, 2016 2:58pm
Quoting josfx
Hi Jason, any particular reason the USD/MXN opened 3 hours and 40 minutes later this week? Both on demo and real accounts. {image}
More than likely, there were too many positions in profit, so they froze until those trades had less profit or a loss. Just guessing though
  • #9,557
  • Oct 10, 2016 4:34pm Oct 10, 2016 4:34pm
Quoting pipmaster77
{quote} More than likely, there were too many positions in profit, so they froze until those trades had less profit or a loss. Just guessing though
very unfortunate that they do that to traders..was gonna sign up with them too..
  • #9,558
  • Oct 11, 2016 10:29am Oct 11, 2016 10:29am
Quoting Elovv
But I still think it would be good if it would be possible to have a USD demo, NDD, commission based.
We agree with you, Elovv

That's why we are currently working on an update for our USD MT4 demo servers so traders can see either our Standard account NDD spreads on their demos, or our all-inclusive Mini account spreads depending on their preference. While I don't have an ETA for you at this time, I will post information in this thread as soon as I have it.

Note that demos on the other platforms we offer Trading Station, NinjaTrader, etc. already offer you the option to see either pricing model on both charts and rates windows.
  • #9,559
  • Oct 11, 2016 11:38am Oct 11, 2016 11:38am
Quoting forexvert
{quote} how do you connect to that server?
Hi Forexvert,

If you want an EUR demo showing our NDD spreads, you can use this link to set up a new MT4 demo account. Be sure to select Standard as your demo type and EUR as your currency.

That said, I notice your forum profile mentions that you live in Canada. While we don't have a CAD-denominated MT4 demo server, please note that we do offer real MT4 accounts denominated in Canadian dollars and trading on our NDD spreads. Furthermore, as a Canadian resident, you can open your trading account through Friedberg Direct which is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF) which offers you up with $1 million in client funds protection.
  • #9,560
  • Oct 11, 2016 11:48am Oct 11, 2016 11:48am
I've trading since 2009 and I just got ripped off by FXCM today.

I was long SPX500 @2,140.38 at 11:19am, less that 10 minutes later I take a look back at my trade, for my surprise I was margin called @ 2,135.11, but the bid price never hit 2,135.11, the lowest it hit according to FXCM platform was 2,137.50. I even checked other providers and the price never even got close to that, for example on bloomberg the lowest the SP500 index has gone today, in that time frame, was 2,138.95 and I even had sufficient margin to hold the trade on the 2,138.95 move. I called FXCM and the gave me the usual slippage BS, I can't imagine they still use that BS to deal with clients. They sent me an email with a trade inquiry link, I filled the form and sent it back. SPX500 is now sitting @2,146 and feel cheated with losses and no profits on what was suppose to be a very nice trade. I'll be waiting for a favorable resolution from FXCM. I'll keep you guys posted on the matter.
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