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FXCM Discussion

  • #821
  • Mar 19, 2010 4:35pm Mar 19, 2010 4:35pm
Quoting Platypus
Whatever Adal.....don't take it the wrong way but if you didn't get what I meant there is just no reason to reason.....
Here, let me help. There's this concept called "event trading", or "news trading" as retail calls it.

You'd be surprised to know how well this can work, even with a "bucket-shop" like FXCM.

You can call this HFT, and it is HFT for the big boys. Me, I'm playing just the medium-frequency variant of it. Yes, yes, I know, I'll be killed by the whipsaws. Whatever.
  • #822
  • Mar 19, 2010 4:50pm Mar 19, 2010 4:50pm
Quoting Adal
Are you blind or something? Or you just skipped school and are a little reading impaired.

What part of "I don't believe it's possible to do HFT with FXCM" are you having trouble with?
yeap, with MT4 the lowest spread is 3 pips on EU with FXC Marketing, how can you scalp with that? http://cdn.forexfactory.com/images/s..._the_floor.gifhttp://cdn.forexfactory.com/images/s..._the_floor.gifhttp://cdn.forexfactory.com/images/s..._the_floor.gif!! A millisecond is not going to make HFT profitable with that kind of spread.
  • #823
  • Mar 19, 2010 5:25pm Mar 19, 2010 5:25pm
Quoting Adal
Here, let me help. There's this concept called "event trading", or "news trading" as retail calls it.

You'd be surprised to know how well this can work, even with a "bucket-shop" like FXCM.

You can call this HFT, and it is HFT for the big boys. Me, I'm playing just the medium-frequency variant of it. Yes, yes, I know, I'll be killed by the whipsaws. Whatever.
So just go ahead and do it my friend people like you are the true "liquidity providers"!!
  • #824
  • Mar 20, 2010 11:19am Mar 20, 2010 11:19am
Quoting Jason Rogers
all other things being equal I would expect a VPS in NY to have lower latency than one in Boston.
However it wouldn't make sense for a MetaTrader client terminal to be in NY would it, because the data would have to do a trip to Boston Technologies and back?

Quoting Jason Rogers
we already have a working business relationship that makes it easy to integrate with our current MT4 offering
Why work with Boston Technologies in the first place? It seems that the setup is not optimal as I've mentioned above. You are in NY and they are not.

I've heard that ATC Brokers (in NY) who get the raw FXCM price feed have a far more optimal setup if trading on the MetaTrader platform.

I may be thinking wrongly, so please clarify.
  • #825
  • Mar 20, 2010 11:44am Mar 20, 2010 11:44am
Ok sorry If this has been answered before, but I don't have time to read 51 pages of posts lol.

OK, I've been trading with FXCM for like 2 years now and consistently making money for just over a year now, but I've never taken any money out, just been growing my account. In terms of getting my money back are they safe? I don't care about the spreads prices or w/e all i know is that I make money and i'm happy with the prices, spreads, and order execution.

So are they legit with giving your money back?
  • #826
  • Mar 20, 2010 1:28pm Mar 20, 2010 1:28pm
Quoting curtains
Ok sorry If this has been answered before, but I don't have time to read 51 pages of posts lol.

OK, I've been trading with FXCM for like 2 years now and consistently making money for just over a year now, but I've never taken any money out, just been growing my account. In terms of getting my money back are they safe? I don't care about the spreads prices or w/e all i know is that I make money and i'm happy with the prices, spreads, and order execution.

So are they legit with giving your money back?
FXCM is a big company they will not steal your money like that.

You say you are consistently making money with FXCM.

I guess you aren't a news trader or a scalper like the people complaining on this thread?
  • #827
  • Mar 20, 2010 2:14pm Mar 20, 2010 2:14pm
Quoting curtains
In terms of getting my money back are they safe?
Yes. It's a stupid question.
  • #828
  • Mar 20, 2010 8:28pm Mar 20, 2010 8:28pm
Quoting curtains
So are they legit with giving your money back?
This is a question you should have thought about long before you put money into an FXCM account. But since you already have, and have kept it there for the past year, why not make a test withdrawal to find out?
  • #829
  • Mar 20, 2010 9:22pm Mar 20, 2010 9:22pm
Quoting curtains
Ok sorry If this has been answered before, but I don't have time to read 51 pages of posts lol.

OK, I've been trading with FXCM for like 2 years now and consistently making money for just over a year now, but I've never taken any money out, just been growing my account. In terms of getting my money back are they safe? I don't care about the spreads prices or w/e all i know is that I make money and i'm happy with the prices, spreads, and order execution.

So are they legit with giving your money back?
Never had any issues to withdraw money from my FXCM account.
  • #830
  • Mar 21, 2010 12:29am Mar 21, 2010 12:29am
Quoting LaughingDicK
FXCM is a big company they will not steal your money like that.

You say you are consistently making money with FXCM.

I guess you aren't a news trader or a scalper like the people complaining on this thread?
nope not a news trader, or scalper, pretty happy with the spreads, best i've seen, works for me, minor slipage rarely, but doesn't bother me only about 1pip usually (thats if I get any).

Quoting sonicpunk32
This is a question you should have thought about long before you put money into an FXCM account. But since you already have, and have kept it there for the past year, why not make a test withdrawal to find out?
When I opened an account, I was still pretty new to trading looking back now, I had half a system, and knew no where near as much as I do now about brokers, but since then FXCM has done me well, i'm happy with the platform, spreads etc. But yes like you said over the last 2 years I've made money, but never taken it out was just asking here to see if there things i should avoid doing when taking it out or what ever.

Thanks to everyone else that answered, as long as I can get my money out I'm happy
  • #831
  • Mar 21, 2010 3:47am Mar 21, 2010 3:47am
Quoting curtains
...was just asking here to see if there things i should avoid doing when taking it out or what ever... as long as I can get my money out I'm happy
Sounds reasonable. Just be aware that there's a fee on FXCM's side, as well as a fee when your bank will receive the transfer (if you're with FXCM UK). So you could be looking at around $30 total. Good luck with your trading career!
  • #832
  • Edited 2:26pm Mar 21, 2010 2:18pm | Edited 2:26pm
Quoting singularity
Hi Jason,
I have sent email to you 1 week ago about high rollover fee of FXCM 57GBP for only 100 oz. Have you found out any thing?
Thanks
Hi Jason,
I have sent you all information more than one month about the roll over fee extremely high of FXCM 57GBP for only 100 oz.
Have you looked at it? It seems to me that you promise but do nothing to resolve the issue.

OK: finally I got reply from Jason (FXCM rep.). He confirmed that the roll over fee for 100 oz is 57 GBP is correct.
  • #833
  • Mar 21, 2010 6:55pm Mar 21, 2010 6:55pm
Quoting singularity
Hi Jason,
I have sent you all information more than one month about the roll over fee extremely high of FXCM 57GBP for only 100 oz.
Have you looked at it? It seems to me that you promise but do nothing to resolve the issue.

OK: finally I got reply from Jason (FXCM rep.). He confirmed that the roll over fee for 100 oz is 57 GBP is correct.
Thats too much....

My BSS charges me only 12 oz for 100 GBPS and it is cold rolled over. The best thing around if you know what I mean.
  • #834
  • Mar 21, 2010 7:44pm Mar 21, 2010 7:44pm
I traded thru FXCM standard account for over 2 years without any issues. I had to leave them because I felt I had outgrown them and needed to trade directly with a bank not because FXCM was not competent or honest.

Here are a few points that I feel everyone must know about FXCM standard account-

1) I was never re-quoted or had a slippage trading under usual conditions (enough market depth, no news environment)
2) During 2 years, I had only on one occasion my stop loss slipped. That was on a Sunday and my stop was executed 100 pips beyond my desired entry. Well, I called FXCM and they refunded me the $$$ that I lost due to that slippage.
3) I withdrew my money without any issue every time. It takes about a week or so via check.

It is hard to understand hostility towards FXCM rep. Come on guys, you dont like FXCM, move on and open an account with another brokerage. As easy as that!

5Abi



Quoting Jason Rogers
We’re not trading against you with NDD....
Its all in the mind.
  • #835
  • Mar 22, 2010 1:34pm Mar 22, 2010 1:34pm
Tax return time is right around the corner, and we will be hosting a tax webinar tomorrow (March 23) at 2:00pm EST. The special webinar host is Robert A. Green, CPA, CEO Green & Company CPAs, LLC. To attend the webinar, login five minutes before it starts here.

Topics:

Basic Tax Information for Forex Traders
How to Report Forex on your Tax Returns
Live Question and Answer Session

The webinar topics will be most relevant to US residents. If you can't make it at 2pm, we'll have the recording available afterwards.

-Jason
  • #836
  • Mar 22, 2010 4:38pm Mar 22, 2010 4:38pm
price quoting is just horrible today on the trading station, may its normal and i never recognized it before but prices on my trading station slowing so much.
execution even has seen better times.
spread 2,5 on uj cmon u kidding me?!?
  • #837
  • Edited 7:41pm Mar 22, 2010 4:46pm | Edited 7:41pm
if you are going to match the spread with the FXCM Standard Accounts.

You had an advantage of tighter spreads for your Micro's on TS II but you just gave that up.

You've got to stay competitive with the other brokers that now offer the MT4 platform for their Micro Accounts, imo.

Just throwing that out there as something to think about before the "you know what" hits the fan after raising your spreads.
  • #838
  • Mar 22, 2010 7:06pm Mar 22, 2010 7:06pm
Quoting 5abi
I traded thru FXCM standard account for over 2 years without any issues. I had to leave them because I felt I had outgrown them and needed to trade directly with a bank not because FXCM was not competent or honest.
I thought that FXCM were big enough to provide volume and liquidity to banks at least dbFX provides FXCM platform to the retail trader like other banks and other MM.

What are the limits of FXCM or when do you need to start looking for something bigger?
  • #839
  • Mar 22, 2010 11:40pm Mar 22, 2010 11:40pm
- Pretty smart fellas over at FXCM id add...especially those who oversee their Microdivision.

With respect to their Micro division, I cant see a real reason to keep my account open or even top it off to the 10k mark. Nil,Nada...

The're pretty naive to assume that traders care who they trade against, I don't and I'm pretty certain others don't as well. The bottom line is that losses are inevitable and quite frankly I don't care who takes my money or whose money I take.

Of course this is merely a guise for them to rake in extra profits... and to the traders who are ok with paying an extra +50% in trading costs.... my gosh, other businesses must love you.

Before this junk, I'd have no problem opening a 200k position on lets say... U/CAD ... or 100k on U/AUD ... clearly fxcm was making their money in spreads quite handsomely.. heck i remember nights when id trade 2 or 3 mil in volume a night on pairs with 2-3 pip spreads only to remain flat for the night... again fxcm made money. I was content as spreads were inline with major brokers.

For the month i've traded over 5.7 mil in vol with you guys with an average spread of 3 pips... (only 1.5 weeks of trading)

Over 20 mil in vol since Nov. (No trading in Jan)


Relativity new account...

lets see: U/CAD .. previous = 3.2 roughly $60 to place a trade
current= 5.2 roughly $104 to place a trade

an increase of $44 in trading costs ...


FXCM is forgetting which type of traders which allows them to remain profitable or even make them money. ITS THE SCALPERS, you know the guy that makes many trades with relatively high leverage/pip costs without hesitation.



I can see no reason to pay an $44 extra to make the same trade. Add in the fact that support in non-existent. Ha, what a joke

Now...I refuse to even open a 50k position.

There is absolutely no way I will change my trading strategy to suit my broker's greedy needs. No thanks.

Again, I've no morals or ethics when it comes to trading, i'd trade against the Vatican if given the opportunity. Dont insult us with the morals card as many of us simply dont care who takes our money or vice versa whats important is costs and the bottom line, and your increased cost will affect the bottom line.

And the active trader program, thought about it... and heck if you guys can pull this stunt with a micro account i'd think twice before giving you guys my volume with 500k-1mil positions.



But anyways this is beside the point.... All the best to you FXCM, time to look elsewhere. Will source an alternative before April.

Ill take a look at you guys again when your spreads, and egos come back to earth until then ill vote with my wallet .
  • #840
  • Mar 23, 2010 2:18pm Mar 23, 2010 2:18pm
Quoting Cosine
- Pretty smart fellas over at FXCM id add...especially those who oversee their Microdivision.

With respect to their Micro division, I cant see a real reason to keep my account open or even top it off to the 10k mark. Nil,Nada...

The're pretty naive to assume that traders care who they trade against, I don't and I'm pretty certain others don't as well. The bottom line is that losses are inevitable and quite frankly I don't care who takes my money or whose money I take.

Of course this is merely a guise for them to rake in extra...
Take a look at MBTrading MT4 ECN implementation...excellent and spreads, counting commissions..less than whatt Micro used to be. Plus the added bonus that you can use e EAs if you want to...why would anyone that trades quite frequently stay with FXCM?
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