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FXCM Discussion

  • #1,001
  • Apr 28, 2010 10:52am Apr 28, 2010 10:52am
Quoting Utopia
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...
...."please contact are customer service....." blah blah blah
  • #1,002
  • Apr 28, 2010 11:25am Apr 28, 2010 11:25am
Quoting Utopia
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...
Hi Utopia,

Please send me an email ([email protected]) with the account number so I can investigate this with tech support.

Thanks,

Jason
  • #1,003
  • Apr 28, 2010 2:46pm Apr 28, 2010 2:46pm
Quoting Utopia
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...
WOW!! Thanks for the proof that trading on ANY FXCM platform can be dangerous to your wallet. (I thought it was just MT4) - Its obvious that FXCM is a scam platform that serious traders with profitable strategies should avoid. Its just a churn/burn to scalp newbie traders.
  • #1,004
  • Apr 28, 2010 3:49pm Apr 28, 2010 3:49pm
Quoting Jason Rogers
Hi Utopia,

Please send me an email ([email protected]) with the account number so I can investigate this with tech support.

Thanks,

Jason
Jason, if you could let us know what the solution to this problem is, it would be of significant value to those of us that also have FXCM accounts (with utopias permission off course).

cheers
  • #1,005
  • Apr 28, 2010 5:02pm Apr 28, 2010 5:02pm
Quoting kon5t
Jason, if you could let us know what the solution to this problem is, it would be of significant value to those of us that also have FXCM accounts (with utopias permission off course).

cheers
Hi kon5t,

Yes, I can share the information with you. We were able to identify the problem and we're in the process of fixing it. The fix should be in place by tonight. The problem occurred during volatile market conditions over the past couple of days.

-Jason
  • #1,006
  • Apr 28, 2010 6:53pm Apr 28, 2010 6:53pm
Quoting Jason Rogers
Hi kon5t,

Yes, I can share the information with you. We were able to identify the problem and we're in the process of fixing it. The fix should be in place by tonight. The problem occurred during volatile market conditions over the past couple of days.

-Jason
This was my EXACT problem with FXCM. Whenever the markets are volatile or they are unsure of direction all kinds of nasty things start happening with their platform. I noticed 'strange' things happening during unexpected news or more often during Friday market closes when currencies can spike. Whenever situations arise where some traders might make excessive profits you see it all - Slips, Disconnects, Freezes, Etc... (Also notice that they need ANOTHER Fix!! Sheesh how many fixes does it take to create a reliable trading platform?)
  • #1,007
  • Apr 28, 2010 7:54pm Apr 28, 2010 7:54pm
Quoting Aja
This was my EXACT problem with FXCM. Whenever the markets are volatile or they are unsure of direction all kinds of nasty things start happening with their platform. I noticed 'strange' things happening during unexpected news or more often during Friday market closes when currencies can spike. Whenever situations arise where some traders might make excessive profits you see it all - Slips, Disconnects, Freezes, Etc... (Also notice that they need ANOTHER Fix!! Sheesh how many fixes does it take to create a reliable trading platform?)
Well according to them, they are STP NDD but based on my experience and what I read here, this STP NDD does not exist, it's a marketing tool to charge excessive spreads. If they really were what they say they are then it would not matter to them whether you are profitable or not....btw, on that video by Utopia, they are sometimes off the market by 10 pips or more...scary to say the least. Looks to me like stop hunting.

PS. They don't need another fix,,,they only "need fixes" when they their hand is caught in the cookie jar.
  • #1,008
  • Apr 29, 2010 1:55am Apr 29, 2010 1:55am
ive read the entire pages...
little confused here..

im gonna open my real acct. and FXCM UK on my top 2..
any suggestion mate?
  • #1,009
  • Apr 29, 2010 3:44pm Apr 29, 2010 3:44pm
Quoting Utopia
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...

No surprise to me ...LOL

Here read this thread where you can see that FXCM is even cheating you on their Active Trader DEMO Platform

http://www.forexfactory.com/showthread.php?t=234182
  • #1,010
  • Apr 29, 2010 4:06pm Apr 29, 2010 4:06pm
Quoting Cocoflanel
No surprise to me ...LOL

Here read this thread where you can see that FXCM is even cheating you on their Active Trader DEMO Platform

http://www.forexfactory.com/showthread.php?t=234182
Hi Cocoflanel,

I'll check with tech support to see why this is occurring and let you know. While the demos do not simulate slippage, trades on a live account can experience slippage since the trades are executed based on actual available liquidity.

-Jason
  • #1,011
  • Apr 29, 2010 4:17pm Apr 29, 2010 4:17pm
Quoting melakamaster
ive read the entire pages...
little confused here..

im gonna open my real acct. and FXCM UK on my top 2..
any suggestion mate?
caveat emptor - http://en.wikipedia.org/wiki/Caveat_emptor
  • #1,012
  • Apr 30, 2010 6:12am Apr 30, 2010 6:12am
Stay away from anything having to do with FXCM. Freezes, delays, you name it, Active Trader, doesn't exist, it's all lies, and I"ve been told that their lies are legal. Stay away from FXCM or any company that goes through them unless you are looking for a dealing desk that hunts your stops and alters actual interbank prices. Personally, I only trade the Eur-Usd now, just the one, and it is highly traded on the CME futures market. All the banks are there, big speculators like Gartman, if you are not thrown off by a little future basis, it is 100% open, transparent, and if you get on ninja fire or Xtrader, you can compete with the banks on speed as well. No bullshit excuses. I'm done, see you on the CME.

Quoting Cocoflanel
No surprise to me ...LOL

Here read this thread where you can see that FXCM is even cheating you on their Active Trader DEMO Platform

http://www.forexfactory.com/showthread.php?t=234182
  • #1,013
  • Apr 30, 2010 6:23am Apr 30, 2010 6:23am
I should add, just how pissed I am, after being told I was on a true no deal desk ecn. To have dozens of orders not filled, ridiculous slippage, the freezing, etc. I finally figured it out listening to tradethenews quoting their EBS machine to find my prices 10-20 full pips away from the actual interbank. Lied to , cheated, and scammed. Stay far awa from FXCM and their associates. And don't believe a thing a broker tells you unless it's put in writing.
  • #1,014
  • Apr 30, 2010 6:25am Apr 30, 2010 6:25am
FXCM is the biggest scam machine in the fx world of scam machines. You will never get a fair deal. Trade on the CME, the only way you are going to get a fair playing ground.
  • #1,015
  • Apr 30, 2010 9:16am Apr 30, 2010 9:16am
Quoting Syxf
I should add, just how pissed I am, after being told I was on a true no deal desk ecn. To have dozens of orders not filled, ridiculous slippage, the freezing, etc. I finally figured it out listening to tradethenews quoting their EBS machine to find my prices 10-20 full pips away from the actual interbank. Lied to , cheated, and scammed. Stay far awa from FXCM and their associates. And don't believe a thing a broker tells you unless it's put in writing.
The active trader setup uses No Dealing Desk execution (as does forex execution on standard 10k accounts and some micro accounts). As far as putting it in writing, it is. Every NFA regulated broker is required to disclose in the trading agreement how trades are offset. Quite some interesting reading if you compare brokers trading agreements. If you ever have problems with trades, we will certainly investigate and make any adjustments if necessary.

-Jason
  • #1,016
  • Apr 30, 2010 9:20am Apr 30, 2010 9:20am
Hey guys,

I see that a lot was said about stop hunting and I was just wandering... Since most brokers that provide MetaTrader 4 have only BID charts and variable spreads, in case you place a stop buy order how do you know that the price has actually been reached?
  • #1,017
  • Apr 30, 2010 9:43am Apr 30, 2010 9:43am
Quoting 50_Pips
Hey guys,

I see that a lot was said about stop hunting and I was just wandering... Since most brokers that provide MetaTrader 4 have only BID charts and variable spreads, in case you place a stop buy order how do you know that the price has actually been reached?
Hi 50Pips,

For FXCM, the Marketscope charts inside the FX Trading Station have the ability to display either the bid or ask price that was quoted. This is how you could check the ask prices that were quoted.

Here's where you will find it on the Marketscope chart:

http://img530.imageshack.us/img530/4003/chartbidask.jpg


-Jason
  • #1,018
  • Apr 30, 2010 9:50am Apr 30, 2010 9:50am
They don't even answer the question asked anymore, the member asks about MT4 and they answer with TSII, on which the price feed and prices is different.
  • #1,019
  • Apr 30, 2010 9:56am Apr 30, 2010 9:56am
Quoting wwwin
They don't even answer the question asked anymore, the member asks about MT4 and they answer with TSII, on which the price feed and prices is different.
That's because it's not possible to check it on MT4...with FXCM or any broker. That's how MT4 works. Hence the Marketscope solution. Both platforms use the same NDD execution with the exception of a 1/10th pip mark-up on MT4 which is compensation to BT.

How do you verify with your MT4 broker?
  • #1,020
  • Apr 30, 2010 10:01am Apr 30, 2010 10:01am
Quoting Jason Rogers
That's because it's not possible to check it on MT4...with FXCM or any broker. That's how MT4 works. Hence the Marketscope solution. Both platforms use the same NDD execution with the exception of a 1/10th pip mark-up on MT4 which is compensation to BT.

How do you verify with your MT4 broker?
That's the point, on MT4 cannot be verified, that was the question. And this 1/10 pip-mark up is a blatant lie, the MT4 markup is always more than 1/10. Therefore, TSII to verify ask price is useless for FXCM MT4.
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