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FXCM Discussion

  • #981
  • Apr 20, 2010 4:34am Apr 20, 2010 4:34am
I don't think it's the dealing desk, it's your servers and IT. Why don't you just spend some money and fix it up, get off Barry's list of companies with IT issues...

Quoting Jason Rogers
Accounts are currently being moved over in batches. We already have several thousand micro accounts set up on NDD, and over the upcoming weeks we will be completing the transition for the remaining accounts. If you would like to check whether your account has been transitioned to NDD, please check with FXCM Micro or I can check as well if you contact me via email.

-Jason
  • #982
  • Edited 6:04am Apr 20, 2010 5:46am | Edited 6:04am
Its not just the servers. Its built-in delays, freezes, disconnects and slippage that will kill your profits. FXCM is a scam machine. I've been running my robot on FXCM-UK and Collective FX side by side for a couple months - Both use the Boston bridge for MT4 execution but CFX gets liquidity from CitiFX - FXCM is a terrible broker by execution or intentional design. There's NO WAY the same EA on the same exact currencies should make 5X more profit on CFX than FXCM. NO WAY!!

FXCM is scamming you. (BUT dont worry Jason will be online soon to suggest you email him while they delay and slip your orders. Smile - You can swap recipes while you lose money)
  • #983
  • Apr 20, 2010 9:24am Apr 20, 2010 9:24am
I really love the freezes while the market decides whether your order is applicable or not... i trade tick by tick, you really see just how it is.. I have nothing to compare it to but trading xtrader on cme... the only fair way to trade i'm thinking...

Quoting Aja
Its not just the servers. Its built-in delays, freezes, disconnects and slippage that will kill your profits. FXCM is a scam machine. I've been running my robot on FXCM-UK and Collective FX side by side for a couple months - Both use the Boston bridge for MT4 execution but CFX gets liquidity from CitiFX - FXCM is a terrible broker by execution or intentional design. There's NO WAY the same EA on the same exact currencies should make 5X more profit on CFX than FXCM. NO WAY!!

FXCM is scamming you. (BUT dont worry Jason will be online soon to suggest...
  • #984
  • Apr 20, 2010 10:25am Apr 20, 2010 10:25am
Quoting Aja
Its not just the servers. Its built-in delays, freezes, disconnects and slippage that will kill your profits. FXCM is a scam machine. I've been running my robot on FXCM-UK and Collective FX side by side for a couple months - Both use the Boston bridge for MT4 execution but CFX gets liquidity from CitiFX - FXCM is a terrible broker by execution or intentional design. There's NO WAY the same EA on the same exact currencies should make 5X more profit on CFX than FXCM. NO WAY!!

FXCM is scamming you. (BUT dont worry Jason will be online soon to suggest...

Can the same be said about Active Trader (no-MT4) ?
  • #985
  • Apr 20, 2010 11:23am Apr 20, 2010 11:23am
Quoting Cocoflanel
Can the same be said about Active Trader (no-MT4) ?
The FX Trading Station II and Active Trader platform were designed by FXCM and therefore integrate seamlessly into our No Dealing Desk execution. MT4 was designed for a dealing desk, so if the MT4 back-end isn’t used a technology bridge has to connect the two. This creates an extra step that MT4 trades have to go through compared to the FX Trading Station II and Active Trader platform. The only way to eliminate the extra step would be to use MT4 on a dealing desk in which case the back-end from MetaQuotes would also be used. That is not an option for FXCM since execution for all forex transactions on MT4 are executed via NDD.

We recommend MetaTrader4 for traders who automate their trades with EA’s, and additionally provide VPS for those that want to cut down latency to a minimum due to the additional step taken by the bridge and improve uptime for automated trading. For traders wanting to self-trade, the FX Trading Station II and Active Trading Platform will be your best option because both platforms were built for NDD and integrates seamlessly. However, we understand some traders will still choose to use MT4 for self-trading because that is what you are used to and thousands of traders do so for the advantages of NDD execution.

FXCM is designing an alternate platform for traders that are comfortable with MT4 but want a platform designed specifically for FXCM’s execution technology. That platform is Strategy Trader, which I mentioned last week. It will be debuted in a workshop on May 3 during the currency trading expo, and I will also have demos available in the upcoming weeks once beta testing begins.

-Jason
  • #986
  • Apr 20, 2010 11:30am Apr 20, 2010 11:30am
While on the topic of new platforms, FXCM is nearing the launch of a new web based platform called Trading Station Gateway (TSG).

TSG is the web based platform for standard 10k and micro accounts, and it has the following advantages:

- No Downloading Required
- Works on Apple Mac computers
- Accessible from behind personal and corporate firewalls

Beta testing begins tomorrow. If you would like to be a part of the beta group, please send a request to [email protected], and I will include you.

-Jason
  • #987
  • Apr 20, 2010 1:57pm Apr 20, 2010 1:57pm
Jason, I have a micro acc with FXCM, which has been locked because Visa stuffed up. I wish to deposit funds but the micro acc people are not responding to my emails. My problem is, in the last 24 hrs I have sent 5 emails to FXCM micro, on an email they sent me, with no response. I consider 24 hrs to be to long. Would you please sort this out. I will pm you my acc no, if you want.

Gerard
  • #988
  • Apr 20, 2010 2:12pm Apr 20, 2010 2:12pm
Quoting Four Kids
Jason, I have a micro acc with FXCM, which has been locked because Visa stuffed up. I wish to deposit funds but the micro acc people are not responding to my emails. My problem is, in the last 24 hrs I have sent 5 emails to FXCM micro, on an email they sent me, with no response. I consider 24 hrs to be to long. Would you please sort this out. I will pm you my acc no, if you want.

Gerard
Hi Gerard,

Yes, can you please PM me with the account number and I'll take care of this for you.

-Jason
  • #989
  • Apr 20, 2010 3:35pm Apr 20, 2010 3:35pm
Quoting Four Kids
Jason, I have a micro acc with FXCM, which has been locked because Visa stuffed up. I wish to deposit funds but the micro acc people are not responding to my emails. My problem is, in the last 24 hrs I have sent 5 emails to FXCM micro, on an email they sent me, with no response. I consider 24 hrs to be to long. Would you please sort this out. I will pm you my acc no, if you want.

Gerard
Just because I like to stir things up.. To all the people that post in here, I've read only a few pages with nothing but problems and complaints... Has anyone maybe checked out the MB Trading thread??

Why do you guys do this to yourself....
Cap
  • #990
  • Apr 20, 2010 3:43pm Apr 20, 2010 3:43pm
Quoting The Captain
Just because I like to stir things up.. To all the people that post in here, I've read only a few pages with nothing but problems and complaints... Has anyone maybe checked out the MB Trading thread??

Why do you guys do this to yourself....
i trade with fxcm and have to say i am very happy with them....
  • #991
  • Apr 20, 2010 3:47pm Apr 20, 2010 3:47pm
Quoting The Captain
Just because I like to stir things up.. To all the people that post in here, I've read only a few pages with nothing but problems and complaints... Has anyone maybe checked out the MB Trading thread??

Why do you guys do this to yourself....
Their would be no problem here, if Visa did their job properly, and did'nt fuck with my acc. They are a bunch of useless pricks. Talking to them on the, phone which cost me $10 not for the call, but just to talk to them, was a waste of time.
  • #992
  • Apr 20, 2010 3:50pm Apr 20, 2010 3:50pm
Quoting Four Kids
My problem is, in the last 24 hrs I have sent 5 emails to FXCM micro, on an email they sent me, with no response.
Gerard
This would never happen at a broker with any sort of competence.

(MB Trading but shhhhh don't tell anyone.. Let them all stay with a renowned shitty broker like FXCM)
Cap
  • #993
  • Apr 20, 2010 3:57pm Apr 20, 2010 3:57pm
Quoting The Captain
This would never happen at a broker with any sort of competence.

(MB Trading but shhhhh don't tell anyone.. Let them all stay with a renowned shitty broker like FXCM)
Yes I agree they were slow, but Jason has emailed me and sorted this out to my satisfaction.

All company's have problems. Read my edited post above re Visa. I would not use this hiccup as reason to not trade with FXCM.
  • #994
  • Apr 20, 2010 4:42pm Apr 20, 2010 4:42pm
Other than the less-than-stellar customer support micro account holders have to contend with, it seems Trading Station II and Active Trader users are largely immune from the execution/performance issues experienced by the guys on MT4.
  • #995
  • Apr 22, 2010 6:29am Apr 22, 2010 6:29am
"This creates an extra step that MT4 trades have to go through"

This must be the one small step for man kind of step then, right. Come on, this is an excuse. It's the information age, you are an information company, and a very rich one... You are offering a deficient product, admitting to it right here on this forum, yet marketing yourself as a leading edge company. This is pathetic. It says alot about your corporate philosphy that you would put a product on the market that you admit is not up to par... sounds like half baked business to me...
  • #996
  • Apr 22, 2010 10:28am Apr 22, 2010 10:28am
Quoting Syxf
"This creates an extra step that MT4 trades have to go through"

This must be the one small step for man kind of step then, right. Come on, this is an excuse. It's the information age, you are an information company, and a very rich one... You are offering a deficient product, admitting to it right here on this forum, yet marketing yourself as a leading edge company. This is pathetic. It says alot about your corporate philosphy that you would put a product on the market that you admit is not up to par... sounds like half baked business to me...
They spend their money in adverstising b/c its a revolving door with clients, the technology is bad, few stick around long, that is the business plan, always bring in new customers and screw the old ones to the max on the spread, they will always be another clown to take their place
  • #997
  • Apr 23, 2010 4:14am Apr 23, 2010 4:14am
I agree, I too felt victim to them. As beginner to FX, and while browsing through several business websites, their logo always are displayed prominently. Me, the newb that I am, thought that since they have many ads, they should be good.

Boy, the hell I am wrong! The user interface is not intuitive for people like me, and its hard to close a transaction on times of heavy trading activity. Prices occassionaly become fixed, and not moving, only to find out that I have been disconnected.

The bright side is that they have strong customer support, and on a good day, prices do move smoothly. But I won't recommend this broker in the longer run.

Can any of you suggest better alternatives?
  • #998
  • Apr 23, 2010 5:21am Apr 23, 2010 5:21am
Quoting wwwin
They spend their money in adverstising b/c its a revolving door with clients, the technology is bad, few stick around long, that is the business plan, always bring in new customers and screw the old ones to the max on the spread, they will always be another clown to take their place
FXCM is the equivalent of a FX Ponzi scheme. Always bring in New Money to replace the people that wise up and leave. I wouldnt care if they changed CEO's, servers, offices, countries or underwear... I will NEVER trade with anyone remotely associated with them. If it came down to FXCM or Bust I'd stop trading FX.
  • #999
  • Apr 23, 2010 3:43pm Apr 23, 2010 3:43pm
Here's the schedule for DailyFX's live coverage of news events next week:

 

  1. Tue (Apr 27th, 10:00 EST) – US Consumer Confidence (APR) with John Rivera
  2. Tue (Apr 27th, 21:30 EST) – Australian CPI (1Q) with Ilya Spivak
  3. Wed (Apr 28th, 14:15 EST) – FOMC Rate Decision with David Rodriguez
  4. Wed (Apr 28th, 17:00 EST) – RBNZ Rate Decision with John Kicklighter
  5. Thu (Apr 29th, 3:55 EST) – German Unemployment Change (APR) with Matt Russell
  6. Fri (Apr 30th, 8:30 EST) – US GDP (1Q A) with David Song


http://www.dailyfx.com/calendar/trade_the_news/

Have a great weekend!

  • #1,000
  • Apr 28, 2010 10:33am Apr 28, 2010 10:33am
Attn: Jason Rogers

Open an FXCM 'instituational account' with raw spreads and 'first class execution'. Stick 25k into it and get your missus to have a little play with the mini's for a few weeks to test whilst offsetting all trades taken with another broker and compare........and........voila......WTF!

This is just one of many clips I have in my WTF! library taken over past weeks.

I have accounts with MBT Oanda FXCM and Dukascopy. All were reasonably in sync within a pip or two 99% of the time except for FXCM. This is becoming a regular thing with the FXCM Trading Station Platform happening several times a day during normal trading conditions outside of news events.

Jason I am lost for words so perhaps you can assist me in this increasingly occuring 'phenomena'. I am intrigued to hear your views on this matter. Makes for cringe worthy viewing but also dangerous trading if you've got a few lots on the go. Does the real market behave like this and with the many banks you have access to and their giant pools of liquidity?

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