FXCM Discussion

This is a question you should really be asking your broker. If it is an error and it screwed up a trade they should be able to rectify it, and if they don't you should find another broker.

Did the brokers open at different times???

Both trades were profitable on ibfx and fxcm its just fxcm took off the other way since they open at 5 pm eastern and ibfx opens at 6pm on sundays. my concern was fxcm did not gap so i'll be trading more on ibfx since everyone i know says fxcm is a bucket shop.

Cheers
Eric

If FXCM went legit right now-they still wouldnt be up to the standards of a POS bucketshop company like the average Brokers. Their platform(Tradestation2) for mini(micro) is their feed they send you. No transparency at all. U only see what they want u to see when they want too.They have designed their operation to milk the small players- It is interesting to compare their reviews - 98 out of 100 are for them going out of business! (or worse) IBFX isnt far behind! Good luck bro!

I've had an epiphany lately about the world of retail fx, Market Markers in general and FXCM in particular.

It suddenly dawned on me that IF you are going to trade with crooks, wouldn't it
make more sense to be trading with the biggest crooks in the business?

Think about it. Who would you rather be doing deals with ? Some small-time, 2-bit hoods, or Al Capone himself ?

As far as stability, financial solvency ? Have you ever fudged a number on a credit app to get something done? No ? Bullshit.
Same goes here. There's no telling what's going on at FXCM, but for now they've got a lot of publicity on CNBC.
They are literally under the "Micro"-scope and probably won't pull any fast ones right now. Too much money to be made from this.
They actually seem to be bending over backwards not to fuck people around as much as in the past and could signal
a new cycle of growth for retailers that follow that courtesy.

A couple years from now, who in the hell knows ? But for now, it's altogether possible that playing in the traffic with
FXCM might not be a complete and total death wish, since they are the devil we know, instead of the one we know not.

I remind you old-hands at futures trading that for years, many people had good working trading relationships with Refco.
Only the ones unfortunate enough to be holding accounts there at the end were given the shaft. Wrong place, wrong time.

Remember Enron ? Not everybody got their ass handed to them on that deal.
The stock did go all the way up to $90 before the collapse less than a year later.
The fundamentals (attested to by every official crook envolved) were as positive as some of the
reports we saw last year of companies that did just about the same thing this year.
History repeats itself, time and time again.

But anyway,

This is not an endorsement, nor an outright reversal of my long-time position. Anyone who's ever asked me
knows my position with regards to Forex Capital Markets. They will literally shrink themselves down very small
and crawl thru your PC to steal your money while you sleep (this has actually happened).
They will even have sex with everybody in your house, male & female, all while you're sleeping.
And before you even ask, yes, it's always anal.

But, since they are the some of the biggest crooks in the industry, if you know how to play against them,
and you're always playing against them no matter what the market is doing at any given time or price,
some will be able to formulate a plan to beat them fair and square.

You cannot go hundreds of times leverage with these people. 10 or 20 :1 will barely keep you from harms way, but it's doable.
They manufacture artificially low spreads that you can actually use to your advantage, if you know what you're doing.
Case in point: many a night, FXCM will offer a 1-2 pip spread on Yen pairs when many reputable feeds are quoting 3 or 4.
No, it's not always that way and usually just the opposite, but sometimes it's like that. Since Lehman went away and
some of the other liquidity providers got more cautious, alot of spreads, even on the majors, have been affected.

If you're scalping for 10 pips, a 1 or 2 pip spread can make a big difference over 3 + commish.
Just remember, FXCM is your girlfriend's ex-boyfriend. He want's to fuck her again, just to see if he can.
He doesn't care about her, not like you do. He just wanna fuck. Be protective of your assets.
One other thing, Any hole you leave for them to crawl thru, they will.

Seriously now, alll kidding aside, If you put yourself in a spot where general market noise can blow you up,
i.e. too much leverage, trading with no stop, holding over the weekend, etc
and you're trusting FXCM to play fair or even to just leave you alone and let you
trade they way you do at "broker X', you should instead light your money on fire
and use it to keep warm this winter, you'll gain more that way.

Yes I know the same could be said about many market makers. Following proper money management
should go without saying. Just keep it mind, especially when they are acting as well behaved
as they have been recently. It's all an act. Isn't it always ? So if you're new, don't get burned.

Anyone tried microfxcm ? they have tight spreads ! at london session check the attachment ...
Sometimes it is lower than what u see at the picture , but they have wider spreads at asia session , also at news time ofcourse i guess ...

i never saw this micro account before. as you say tight spreads could be good back ups to increase the safety levels. i would like to get a demo from fxcm...until know i've been working with some other platforms different than this one such as Alpari, Etoro and tradeviewforex MT4. thank you for the screenshot baby!

I currently trade with Oanda, pretty happy overall but looking for leverage and tighter spreads in off hours (NY Close to Tokyo Open) FXCM demo seemed to do the trick for me [400:1 and < 2 pips EURUSD during the time mentioned] So I opened a real account using the CNBC challenge and the real spreads were significantly worse! Here's a pic taken ~10pm EST, REAL ACCOUNT [left] - DEMO ACCOUNT [right]:


Anyone else having this issue? BTW, the guy on FXCM was more then useless. Had to send an email because theres no support for Micro Accounts!

Strange ! i was thinking to open micro account but now ... !!

Yes, please contact FXCM! call the number! I am posting these in a number of places. I was about to fund an account, then saw a free $25 account through CNBC and said why not? Good thing I did, this is the result. I did receive this message from FXCM:

Thank you for the email. The Micro Demo and Micro Real spreads should be quite consistent. There may be times when the demo might reflect slightly different pricing due to the fact that demo prices are internal. However, we have notified our productions team, and you should not be seeing any discrepancy.

FXCM Micro as a discount brokerage is dedicated to low spreads, fast service, and automated execution for the self guided fx trader.

Going on Day 2 right now 1.7 Demo vs 2.3 Real as of this writing.

Can u put screen shot now please ?, i want to know the spread for pound and pound/yen

http://i36.tinypic.com/1z1ttuw.jpg

Thanks , look at this G/J not 2.7 its 4 at real account !!, when i saw 2.7 spread at the demo i felt something is wrong , and the funny is euro/yen i c it at the demo 1.1 spread most of the time ... but i notice cable the same ...

It’d be interesting to try a micro account. I have a question here, I haven’t really gotten the spread thing. What I understand from tar’s comment is that they may vary according to the time also. Is it only microfxcm or all brokers? What other conditions affect the spreads in general?

yeah there spreads are variable and it changes all the time , they widen there spreads at news time and asia session , not all brokers like this some of them have fixed spreads

Update:

Real now matches DEMO but at a much higher rate then advertised, been watching all day:

http://i35.tinypic.com/mw2ovp.jpg

Can't make any order, create entry order freezing..

Same thing with me. On my FXCM micro account it's not accepting any trades that I do. I was going to scalp that support on the Eur/USD too =(. Would have taken about 10 pips.

My favorite pair is moving now, and I've lost 100 pips by not trading them

Which one is your favorite? I'm loving the Eur/USD I took 100 pips on the breakout today.