FXCM Discussion

Hi Mikle,

The minimum initial deposit for opening an account with FXCM UK is 300ccy of the currency denomination of your account. For other entities such as Australia, South Africa, or Markets the minimum deposit is as low as 50ccy since the margin requirement for opening a trade is lower.

Jason

Risk disclaimer: 79.79% of retail accounts lose money when trading Forex / CFDs with FXCM LTD.You should consider whether you understand how Forex / CFDs work and you can afford to take the risk of losing your money.

Hi Jason,
I'm from Indonesia.

What the difference that I get?
From FXCM AU (Market)
And
From FXCM UK

Is there something that makes FCA UK regulated condition better than non regulated?

Is FXCM UK not part of Leucadia?

Cause in my mindset unregulated means dangerous...

Dear Client,
Execution continues to be a top priority for FXCM and we are committed to providing you with high speed quality execution as well as transparent and competitive pricing, the bedrock of your trading experience.
CHANGES TO YOUR ACCOUNT
In our continuous effort to provide you with fast execution, we are changing your execution model, for the accounts listed above, to Enhanced Execution. This change is scheduled on Friday, 5 October 2018 on or after 22:00 BST (GMT+1).
Under Enhanced Execution, FXCM remains the counterparty to each of your transactions. For each transaction, FXCM may; offset the trade directly and immediately with an external counterparty, match the trade against that of another client, batch and offset multiple trades in blocks, or chose to hold the other side of the trade.
FXCM believes that utilizing a hybrid system of execution types will provide our clients with the best available execution experience. FXCM publishes our execution statistics, including effective spreads, slippage ratios, and execution speed. Learn more about our execution transparency.
Please note: We have updated our Execution Risk page and Order Execution Policy to reflect the change in execution.
For FAQs see at the bottom of this email.

Otherwise described as 'No Dealing Desk' back to 'Dealing Desk'.

Have received the same e-mail. I'm going to give them a call if the change cannot be stopped. If not I'll have to search for a new broker unfortunately.

Hi squidster, hamburger, and C-12,

As the email mentioned, execution continues to be a top priority for FXCM and we are committed to providing you with high speed quality execution as well as transparent and competitive pricing. That’s why we now offer enhanced execution which is a hybrid of No Dealing Desk and Dealing Desk execution.

I see from conversations on the forum that there can be the thinking that you need to be ideologically pure and only trade NDD/STP, but what ultimately matters to traders is the quality of execution they receive on their order. There may be instances when an order executed via NDD may provide the best available execution experience, and there may be instances when an order executed via DD may provide the best available execution experience. Our enhanced execution model now offsets client trades via whichever method that provides the best execution experience. In effect, getting you the best of both worlds.

If you look at the progression of execution models since the early days of the forex industry, most brokers, including FXCM, started as a dealing desk only broker with the broker choosing to hold the other side of the trade or offset net positioning. But the model had drawbacks, particularly for traders wanting to scalp which led to re-quotes and order restrictions. FXCM pioneered the NDD model in the late 2000’s as an alternative which hedged orders one for one with liquidity providers. This allowed traders to use any strategy, including scalping strategies, without the fear of broker re-quotes or order restrictions. However, the model is dependent on liquidity providers being there to provide quality liquidity even during illiquid periods such as news events. It’s not perfect either. Fast forward to the present, and we now believe the next step to improve our traders execution is for a hybrid of the two. The best of both worlds.

You’re probably thinking this all sounds great in theory, but how can I trust I’m getting the best execution possible. The only way we will be able to demonstrate this to you is through transparency which is why we started releasing execution stats on execution speed, slippage, and spreads.

Execution Speed

The average execution speed as of our latest data release for July 2018 was 30 milliseconds. This defines the amount of time from receipt of client order instructions at our server until execution. This excludes internet latency and post trade booking.




Slippage

As of July 2018, over 89% had zero or positive slippage. 10.24% of all orders had negative slippage. We break this data down by month on the website so you can get an idea of consistency of execution:



By order type…



By order size…



And more on the website. This gives you an idea of how your order type and size may impact execution. Keep in mind, past performance is not indicative of future results. **


Spreads

FXCM accounts with enhanced execution have spread based pricing with no commissions. Trading costs are all inclusive within the spread, typically 1.3 on EUR/USD, 1.3 on USD/JPY, and 1.5 on GBP/USD.*

How can you be sure you are getting the best pricing available and prices are not being manipulated by FXCM, i.e. stop hunting? The pricing and spreads on enhanced execution are set via price competition from the liquidity providers. Each liquidity provider streams through a direct feed of executable buy and sell prices to FXCM. FXCM’s price engine selects the best buy price and sell price, which result in the best available spread.

Monthly execution data for August 2018 should be released in the next day or two.

Jason


* Average Spreads: Time-weighted average spreads are derived from tradable prices at FXCM from 1 April 2018 to 30 June 2018. Spreads are variable and are subject to delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays or for actions relying on this information.
** Certain non-direct clients are excluded from the data. Limit and limit entry orders would only execute at the requested price or better and cannot receive negative slippage. Price improvements are subject to available liquidity. does not in any way attempt to represent that FXCM maintains a particular capacity or performance level. The figures are provided for information purposes only, and are not intended for trading purposes or advice. FXCM is not liable for any information errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. Past results are not indicative of future performance.

79.79% of retail investor accounts lose money when trading with FXCM LTD. You should consider whether you understand how Forex/CFDs work and whether you can afford to take the high risk of losing your money.

Hi hendzwoter,

Welcome!

Whether you trade with FXCM UK, FXCM Australia, FXCM South Africa, or FXCM Markets, they are all a part of the FXCM Group, which is a Leucadia company.

We have multiple locations to better service local clients and offer various services. For example, through FXCM Markets we offer support to clients in Indonesia in Bahasa language. FXCM Markets also has the advantage of offering products and services such as higher leverage and Bitcoin which many clients request. Whereas for FXCM UK, while we have local offices in London, Paris, Milan, and Berlin, leverage is lower due to ESMA requirements. Please keep in mind leverage can act as a double edged sword, magnifying both profits and losses.

Jason

Please keep in mind leverage can act as a double edged sword, magnifying both profits and losses. 79.79% of retail investor accounts lose money when trading with FXCM LTD. You should consider whether you understand how Forex/CFDs work and whether you can afford to take the high risk of losing your money.

Hi Jason,

would you mind answering some questions for me. I am not a client, otherwise I would know the answers already as I pay attention to my order executions.

1. In the above "Table 2.1-MARKET ORDERS BY ORDER SIZE- close market order, open market order, close order, open order, close range, open range",
what would "close order, open order" types be?

2. By slippage for "range orders", I assume it means slippage but still inside of specified range, correct?

3. Let's say I set buy limit 1000 lots (purposely exaggerating), once price is reached order would be filled at the exact price or better, as much as there is liquidity, and the rest of the order would stay there waiting to be filled once price is reached again, and again... did I get this right? And the same applies for take profit order, it would wait there until it is completely filled with no negative slippage?

4. If I use market range buy order, set range/slippage to zero, and click to buy 1000 lots (again exaggerating) at market price, I will be partially filled with no slippage as much as liquidity allows and the rest will be canceled after some waiting period (seconds/minute), correct?

5. Stop loss order can be set as range, meaning, I can specify 0 slippage/range and I will be stopped out only when this price is available, corect?

5. Is slippage statistics for forex orders only or are Indices CFDs also included in the statistics?

I know it's a lot of questions, but they are all sound and answers might be useful to others too.

Hi Smart1,

All good questions, and I'll answer them one by one :


Close order and Open Order distinguishes between whether the order is to open a new position (Open Order) or to close an existing position (Close Order).


That is correct. And to explain for anyone else wondering about market range orders...when creating a market order you can select between two orders types: At Market and Market Range. At Market instructs the order to fill at the best price available and it provides execution certainty since you are not limiting the order to specific prices. Market Range allows you to set an acceptable range that the trade can execute in. This is designed to control the amount of slippage received, but there is less execution certainty since it may not fill if the best available price is outside the specified range.


From a slippage perspective, the limit order will only fill at your price or better. There is no chance the order will fill at a price less than what you requested. The limit and limit entry orders are fill or kill. The entire order will be filled or not at all. If you're placing large orders, I would suggest breaking it into multiple orders and setting a limit for each. Or if hedging is disabled, you can use limit entry orders to close positions.


From a slippage perspective that is correct, your order will fill with no slippage if the range is set to 0. Now whether the order is partially filled or completely filled/completely killed depends on the Time in Force selection. If you click the Advanced button while selecting Market Range, you will see a Time in Force option. IOC (Immediate or Cancel) allows you the opportunity to have any part of your order filled at the best available price(s) with the remaining unfilled amount canceled if liquidity is unavailable. FOK (Fill or Kill) means that you want 100% of the order executed at the best available price and if the entire 100% of the order is not available, the order will not execute at all.




A stop loss order will always be a market order to fill at the best price available. It is designed to get you out of a trade and stop losses. Therefore there is execution certainty, but less price certainty. Slippage can occur depending on market liquidity. You could use an entry order (with hedging disabled to offset open trade) with order type Range Entry to work similar as a Stop Limit, but there is the risk that the order cannot be filled and your trade remains open and losses continue to accumulate.


The stats are for both forex and CFDs.

Jason

What problems do you exactly have with the demo? FxPro provides quite good client support, try to contact them. They helped me many times.

Hi - can you send me details of this. I can't PM you as I'm only a Junior Member - is there a link?

Hi Jason!
Does FXCM rapport trading result to the Swedish Tax?
Best wishes

Hi JohnLancs,

Sure, can you send me an email at jrogers[at]fxcm.com and I can have our support team send you details.

Thanks,

Jason

fxcm is good station to trade .......i like it

@ Jason Rogers
You can use Ninja Trader with FXCM -problem is;I can only get forex charts, cannot get Indices charts -could be me though?

Some things never change, even when they've changed.

Hi Elovv,

Under the Common Reporting Standard (CRS), we are obliged to report our client's investment income on an annual basis to our local tax authority. The CRS seeks to establish the tax residency of customers. Under the CRS, financial institutions are required to identify customers who appear to be a tax resident outside of the country where they hold their accounts and products, and report certain information to our local tax authority. They may then share that information with the tax authority where you are a tax resident. Trading history such as currency pair opened, closed, etc. is not reported.

Jason

@Jason Rogers
can you help please ?

You can use Ninja Trader with FXCM -problem is;I can only get forex charts, cannot get Indices charts -could be me though?
I am in the UK


AND

Would Ninja 8 run on an Apple IMac please ?

Mac is not really friendly with all trading platforms

hi all, i think mac users have to take windows vps to run different syatems.....