Hi Jason,
I was just on the phone with a friendly chap in customer service. I signed up a few days ago to use FXCM because it offers the NinjaTrader (NT) platform, which has terrific tick charts. After I sent in all the paperwork and got the confirmation that I was good to go with NT, I followed the connection guide but didn't see my account linked in NinjaTrader. The service rep suggested I call NinjaTrader to sort this out, which I thought was a bit puzzling given this is one of the platforms FXCM features on its website.
As we conversed, I learned that there is an additional spread added on to trades through NT which are not included if using FXCM's house platform, Trading Station (which is a really confusing name given the well-established TradeStation). The spreads on your website do not include these additional NT fees. Per the service rep, the NT fees used to be 0.40 per lot, but now the fee is incorporated into the spread, but he couldn't tell me how much it was. I asked whether these additional fees are disclosed on the FXCM website. We checked while on the phone together. NT fees are not disclosed. I was probably a bit cross with the poor chap on the phone, and I apologize for that. But I gotta say, it seems really dodgy that FXCM is not transparent about its fees.
So my question - what exactly are FXCM's fees (all-in) when using NinjaTrader? Obviously it would help to know this to compare FXCM/NT with other broker/platform combinations, and plus brokers in general are supposed to be transparent when it comes to fees...
FXBarbarian
I was just on the phone with a friendly chap in customer service. I signed up a few days ago to use FXCM because it offers the NinjaTrader (NT) platform, which has terrific tick charts. After I sent in all the paperwork and got the confirmation that I was good to go with NT, I followed the connection guide but didn't see my account linked in NinjaTrader. The service rep suggested I call NinjaTrader to sort this out, which I thought was a bit puzzling given this is one of the platforms FXCM features on its website.
As we conversed, I learned that there is an additional spread added on to trades through NT which are not included if using FXCM's house platform, Trading Station (which is a really confusing name given the well-established TradeStation). The spreads on your website do not include these additional NT fees. Per the service rep, the NT fees used to be 0.40 per lot, but now the fee is incorporated into the spread, but he couldn't tell me how much it was. I asked whether these additional fees are disclosed on the FXCM website. We checked while on the phone together. NT fees are not disclosed. I was probably a bit cross with the poor chap on the phone, and I apologize for that. But I gotta say, it seems really dodgy that FXCM is not transparent about its fees.
So my question - what exactly are FXCM's fees (all-in) when using NinjaTrader? Obviously it would help to know this to compare FXCM/NT with other broker/platform combinations, and plus brokers in general are supposed to be transparent when it comes to fees...
FXBarbarian