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FXCM Discussion

  • #1,101
  • May 18, 2010 9:58am May 18, 2010 9:58am
Quoting Jason Rogers
FXCM is developing a new automated strategy platform as an alternative to the MT4 platform....
Metatrader is a successful charting package because they have a "kinda sorta" open environment, where people can customize some stuff especially the ability to let people write their own indicators

If you take 2000 traders out there each one of them will want something different on their chart so the more customizable the charting the better.

I pay a small fortune for a completely customizable proprietary charting package ( including proprietary feed). If FXCM can put something like this on the hands of the small guy I will definitely be impressed
  • #1,102
  • May 18, 2010 10:14am May 18, 2010 10:14am
Quoting Platypus
Metatrader...
The platform will have the capability to access other price feeds (see image below). As far as feeds other than what's in the data source list, I'll have to check with our developers.

http://img90.imageshack.us/img90/3838/datasources.jpg


I agree with you on the open environment. Traders will be free to share their strategy advisors and custom indicators with each other. And there is also a Marketplace inside the platform where approved developers can have their programs imported into the platform to share with all users.
  • #1,103
  • May 18, 2010 10:19am May 18, 2010 10:19am
Quoting seeit
Jason, is the amount needed to open an Actve Trader account going to increase soon ?
Hi seeit,

An edit to my previous reply from this morning. I was able to confirm on my side that account minimums for Active Trader accounts through FXCM LLC (US) and FXCM Ltd (UK) are going up to $50k for new accounts as of June 6, 2010.

-Jason
  • #1,104
  • May 18, 2010 4:54pm May 18, 2010 4:54pm
Quoting Jason Rogers
I have additional information I can share regarding the lagging rates discussed in previous posts. At certain periods of market volatility over the past couple of weeks, we experienced a substantial increase in the number of quotes being sent from the banks. Making things as simple as possible, FXCM receives prices from over 10 banks and then displays the best bid/ask price out of all the pricing received. Processing the substantial increase in data caused a lag in the prices making their way onto the platform. We understand this affected the execution...
Jason, I think we all know the FXCM issue was caused by the increased volatility in the market. The big question is why most other brokers had no problem keeping up with the volatile prices, while FXCM just couldn't. It would seem other brokers have faster connections and faster computing power processing their price feeds... You can clearly see that in the video and I have experienced it first hand as well. I would think a company as big as FXCM would be quick to track down and fix the issues with slow lagging prices and slippage. Update their infrastrucure, etc.
  • #1,105
  • May 18, 2010 8:12pm May 18, 2010 8:12pm
Quoting Platypus
Metatrader is a successful charting package because they have a "kinda sorta" open environment, where people can customize some stuff especially the ability to let people write their own indicators

If you take 2000 traders out there each one of them will want something different on their chart so the more customizable the charting the better.

I pay a small fortune for a completely customizable proprietary charting package ( including proprietary feed). If FXCM can put something like this on the hands of the small guy I will definitely be impressed...
What's the difference if they put that out or not, when the market is fast moving the feed lags 20 pips. They are better off having a better feed and stop the non-sense ads and products. And you can't do high frequency trading b/c of the onerous spread. So what's the point of putting in premium gas if the engine can't run.
  • #1,106
  • May 19, 2010 3:12am May 19, 2010 3:12am
Quoting Jason Rogers
I have additional information I can share regarding the lagging rates discussed in previous posts. At certain periods of market volatility over the past couple of weeks, we experienced a substantial increase in the number of quotes being sent from the banks. Making things as simple as possible, FXCM receives prices from over 10 banks and then displays the best bid/ask price out of all the pricing received. Processing the substantial increase in data caused a lag in the prices making their way onto the platform. We understand this affected the execution...
Jason, (or whatever your name is - for all I know you are a slim, pert, long blonde haired female of petite build who purrs like a kitten - in which case show yourself)

Total and utter crap. First you needed a FIX for the issue which you said had been put in place and were just awaiting double triple quadriple confiration from your tech pirates. Now you realize that you can't keep giving the same excuse everytime this happens because you know this will continue to occur as it is just too damn lucrative and proof will keep being posted so what you really need is more guff to cover the long term situation.

Volatility is the nature of the markets and part of their character (and we are not even talking about news spikes). This causes the likes of MBT or Dukascopy who also have several large banks (multiple liquidity providers) providing prices no problems whatsoever and even market maker Oanda and most others provide an accurate representation of the market.

This is the poorest excuse you could have given and it is an insult to every trader/customer who reads this.

As I write this I have just seen the Euro spike down from 1.2210 down 60 pips or so to around 1.2150. Within a minute it had regained 40pips. Whilst market prices had moved back up 40pips FXCM was still quoting around the 1.2150 area. During this time I wasn't able to enter any orders with FXCM even though the price held in that area for up to a minute, because FXCM dealdesk/price feed manipulator know that there is a very high probability that a trader can make immediate money on a retrace.

So rather than offer a requote, all platforms are prevented from making any orders and so missing out on opportunities that are available with other retail forex brokers. I bet if anyone had sold short they would have had big problems on closing out their profits.

FXCM can see all clusters of stops and the balance of short long positions of their account holders which gives them the only edge they need to literally rape their customers accounts.

The bottom line is this: FXCM are quite comfortable in doing this because they know that out of all the customers that notice these problems only a small percentage will realize what is really happening and an even smaller pertentage of those will ever complain to the point of having their profits reinstated compared to those who don't. This in itself is what you might call an edge.

In a nutshell SCAM.
  • #1,107
  • May 19, 2010 3:51am May 19, 2010 3:51am
Quoting wwwin
What's the difference if they put that out or not, when the market is fast moving the feed lags 20 pips. They are better off having a better feed and stop the non-sense ads and products. And you can't do high frequency trading b/c of the onerous spread. So what's the point of putting in premium gas if the engine can't run.
According to Jason this new charting package will let you get different feeds so I'm under the impression that you can bypass FXCM completely.

Now Jason has a weird interpretation of "truth" so access to other feeds could mean something different for him.

Anyways I was just pointing to the fact that from the free chart packages out there metatrader seems to be the most "open source" even if it is not that open.

If FXCM comes up with completely configurable charts and if you can code your stuff in C++ it would be something really impressive even if you only use it to end of the day bars study.
  • #1,108
  • May 19, 2010 4:02am May 19, 2010 4:02am
Plat/others, could you do me a favour and give me a price here:
http://www.forexfactory.com/showthread.php?t=237272
I'm not hijacking the thread... it is relevant...

ta
  • #1,109
  • May 19, 2010 6:47am May 19, 2010 6:47am
no comment. (Saxo vs FXCMmicro)


http://www.zimagez.com/zimage/e2f2ec41c87a...800a44d32f.php#

blatant lies and manipulation again.
  • #1,110
  • May 19, 2010 9:38am May 19, 2010 9:38am
Still keeps lagging during high volatility periods... this rings a very loud bell now...
Trax Tibidax Tibidox...
  • #1,111
  • May 19, 2010 11:49am May 19, 2010 11:49am
FXCM down per their support page.

http://support.fxcm.com/status/
  • #1,112
  • May 19, 2010 12:00pm May 19, 2010 12:00pm
Quoting Leche Mocha
FXCM down per their support page.

http://support.fxcm.com/status/
Clients were unable to login, but the platform connection is now up. All details can be found through fxstatus.com. Let me know if you have any questions.

-Jason
  • #1,113
  • May 19, 2010 6:00pm May 19, 2010 6:00pm
Quoting jason rogers
clients were unable to login, but the platform connection is now up. All details can be found through fxstatus.com. Let me know if you have any questions.

-jason
how can you call yourselves brokers , when fairly frequently, because of "technical issues" you are not acting on behalf of your clients? Ie they can't log on to manage trades, close trades or enter trades. A broker woud mean that you could do these things all the time. You are meant to enable your clients to participate in the fx market. Yet you can't. Why don't you change the name to "fxcm occasional fx brokers" ? Or why don't i fill in yet another fuckin "audit report"?
  • #1,114
  • May 19, 2010 6:15pm May 19, 2010 6:15pm
Quoting Platypus
According to Jason this new charting package will let you get different feeds so I'm under the impression that you can bypass FXCM completely.

Now Jason has a weird interpretation of "truth" so access to other feeds could mean something different for him.

Anyways I was just pointing to the fact that from the free chart packages out there metatrader seems to be the most "open source" even if it is not that open.

If FXCM comes up with completely configurable charts and if you can code your stuff in C++ it would be something really impressive...
I am very dissapointed in you, that you think they could do that. Have you seen the EAs that they program? They can't even program correctly in MQL4 and you think they are going to put out something that you can tweak in C++? Come on man.
  • #1,115
  • May 20, 2010 5:06am May 20, 2010 5:06am
Quoting wwwin
I am very dissapointed in you, that you think they could do that. Have you seen the EAs that they program? They can't even program correctly in MQL4 and you think they are going to put out something that you can tweak in C++? Come on man.
Did I disappoint you Winnie ?!? Ohhhhh it breaks my heart !!

Anyways.....I'm not here to judge FXCM, Jason stated that they have a product and if their team will deliver or not thats something we shall see. Till they have the product out I will give them the benefit of the doubt.

When Jason messes up the truth I have no problems bashing him, I even got a infraction from the mods for posting Jason's picture with a pinoccio nose, so I'm not protecting anybody.

At the end of the day I don't trade with them (and never will) so I can't actually bash their platform.
  • #1,116
  • May 20, 2010 11:39am May 20, 2010 11:39am
For anyone trading the USOil and UKOil CFD contract with FXCM UK, please be aware that the oil CFD has a monthly expiration. The expiration schedule is located on the website here http://www.fxcm.co.uk/oil.jsp . And here is the schedule for the rest of the year:

http://img139.imageshack.us/img139/1...expiration.jpg

  • #1,117
  • Edited 2:24pm May 20, 2010 2:14pm | Edited 2:24pm
Here is my story:

It was May 6th around 2:44 pm. EST. I tried to close a long USD/JPY for 50 micro lots at the price 90.11 that I saw it on the gauge. yes, I use the Trade Station II. But the closed price was executed on 89.692. It caused me lost 20 more pips. And then I tried to go short 10 mlots at the price where it's closed at 89.692, but this time it put me in pending I couldn't cancel it. Until it was later filled but the price got up to 90. or something. I then tried to close that position but guess what, I can't. It kept putting my order in pending. Until the JPY reached 93.438. now it's executed. Lost 400 in 20 minutes. It was about 3 pm EST. I can show you my trading records that telling truth. During the pending time, I wanted to test if it even happened on other pair, so I put a long order for USD/CAD at price 1.07353. it filled in immediately, since it's just a test, I quickly attempted to close that order, guess what, pending again. and again and again. eventually, the TS became frozen, dead. no reaction at all. I had to have the USD/CAD left with another 400 unrealized pips loss in air. You all knew what happened the next few hours. JPY went back up and CAD dropped down to 1.04xxx. Although I have converted some of the losses myself the next couple of days. But I still think I should raise this up to get people alerted and now I'm starting shopping around.
  • #1,118
  • May 20, 2010 3:46pm May 20, 2010 3:46pm
Quoting hastings
Here is my story:

It was May 6th around 2:44 pm. EST. I tried to close a long USD/JPY for 50 micro lots at the price 90.11 that I saw it on the gauge. yes, I use the Trade Station II. But the closed price was executed on 89.692....
Hi hastings,

May 6th around 2:44pm was at the height of the stock market "flash crash" and several banks stopped providing liquidity and stopped executing trades. That's why the order would have been pending. This lasted for about 20 minutes. Despite this you could still request an audit if you had a position negatively affected. Please feel free to contact me directly if you need any help.

-Jason
  • #1,119
  • May 20, 2010 8:33pm May 20, 2010 8:33pm
Had a phone call today from one of FXCMs partners (Apple investment company) regarding an automated trading system etc.

So they were giving a live demo on a gotomeeting.com and the AUD rate being printed on the platform was 85... The apple guys response was "because fxcm make their own market".

4 Cents off market? Seriously? Bank rates are better than that for cash...

Who is to blame FXCM or Apple? Either way, I dont think I will be doing business with anyone associated with either company. Simply because that quote is so far off market, one person is lying and they are supporting one another...

85 LOL at this time its 8173 on currenex and UBS are printing the same.. Frauds.
  • #1,120
  • May 21, 2010 10:54am May 21, 2010 10:54am
Quoting Takisd
Had a phone call today from one of FXCMs partners (Apple investment company) regarding an automated trading system etc.

So they were giving a live demo on a gotomeeting.com and the AUD rate being printed on the platform was 85... The apple guys response was "because fxcm make their own market".

4 Cents off market? Seriously? Bank rates are better than that for cash...

Who is to blame FXCM or Apple? Either way, I dont think I will be doing business with anyone associated with either company. Simply because that quote is so far off market,...
Hi Takisd,

AUD/USD quote hasn't reached 0.8500 since May 19 during the 18:00 EDT candlestick. There were no bad ticks during this period either.

http://img42.imageshack.us/img42/122/audusdquote.jpg


Jason
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