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FXCM Discussion

  • #1,281
  • Aug 6, 2010 11:56am Aug 6, 2010 11:56am
Quoting Jason Rogers
Hi mfoste,

There is no dealer intervention on our forex trading with NDD execution. Please let me know if you have any questions.

-Jason
Hi Jason,

Please to clarify this Non dealing desk you pull from your magic hat each time.

Can you please confirm that ALL ORDERS go to the market and you never take position against your customers.

If all orders goes to the market are you then an ECN?

Hope it helps
13
Brokers are angels
  • #1,282
  • Aug 6, 2010 1:34pm Aug 6, 2010 1:34pm
back in the day, I had multiple commodore 64's linked together by joystick port, each with their own dial-up 300bps modem! the bbs worked great! never crashed!
BarrySDCA Commercial Network Services
  • #1,283
  • Aug 6, 2010 3:51pm Aug 6, 2010 3:51pm
3RD TIME i couldnt close orders or doing nothing, next time i quit...
Greetings, BeLikewater
  • #1,284
  • Aug 9, 2010 9:16am Aug 9, 2010 9:16am
Quoting Jason Rogers
That's exactly what www.FXStatus.com is there for, to let you know about any technical issues. And as also mentioned on the page during any technical issue, if it does affect your trade, you can request a trade audit, and any necessary adjustments will be made.

-Jason
Just to fair also to FXCM, I filed a trade audit previously because I cannot close a trade which is actually a winning trade. Eventually after the review, they credited my account with $81, forgot how many pips.
  • #1,285
  • Aug 15, 2010 7:59pm Aug 15, 2010 7:59pm
here just to prove that fxcm hunts stops.........price ran right up to my order by coincidence......i dont think so, nowhere else can i find this spike

BEWARE of this broker......their claims are lies.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fxcmsh.jpg Size: 95 KB
Click to Enlarge Name: fxcmsh2.jpg Size: 97 KB
  • #1,286
  • Aug 16, 2010 1:04am Aug 16, 2010 1:04am
yeah I have some very concerning images of spiking going on, look at the following,
I wrote to fxm and have not heard anything back about it..... coincidence?
I also thought I would try to catch the spiking and placed orders above the market price to buy and a trailing stop (-8pips or so) and a take profit of about 30 pips (the spikes were about 50 pips each time) and when it did it it still never took my profits and left me with a loss!

All spikes high were .89375 !!

DODGE!
http://i38.tinypic.com/28vgh05.jpg
http://www.forexfactory.com/[IMG...com/am43f4.jpghttp://tinypic.com/r/am43f4/4http://tinypic.com/view.php?pic=am43f4&s=4
  • #1,287
  • Aug 16, 2010 8:00am Aug 16, 2010 8:00am
Quoting barbs666
yeah I have some very concerning images of spiking going on, look at the following,
I wrote to fxm and have not heard anything back about it..... coincidence?
I also thought I would try to catch the spiking and placed orders above the market price to buy and a trailing stop (-8pips or so) and a take profit of about 30 pips (the spikes were about 50 pips each time) and when it did it it still never took my profits and left me with a loss!

All spikes high were .89375 !!

DODGE!
Hi Barbs666,

The spikes in your screenshot were caused by a bad tick in the AUD/USD quotes we received from a liquidity provider. If you have any questions or need a trade reviewed, please contact client services by live chat or phone for the fastest response, or you can send me an email if you have a question about your account.

-Jason
  • #1,288
  • Aug 17, 2010 4:28am Aug 17, 2010 4:28am
Quoting Jason Rogers
Hi Barbs666,

The spikes in your screenshot were caused by a bad tick in the AUD/USD quotes we received from a liquidity provider. If you have any questions or need a trade reviewed, please contact client services by live chat or phone for the fastest response, or you can send me an email if you have a question about your account.

-Jason
Ok, thanks Jason, still have not heard from my email that I sent. I will chase it up if no news by end of week. and i will update post to with outcome.

Cheers
  • #1,289
  • Aug 18, 2010 2:17am Aug 18, 2010 2:17am

1. stop hunting
2. swap didnt paid
3. bad connection


close ur account at fxcm now !!!!

Peace And Quite Is Utterly Malapropos Of My Departure . . .
  • #1,290
  • Aug 18, 2010 8:09am Aug 18, 2010 8:09am
this broker is really unjust...
i am having TP order hit, and it is not closing it for 10 minutes...

before lowering my TP order I've tried to close my position, but I wasn't successful 10 times...however, I was able to close my loosing positions right away, without any problems

this is really crazy, and does+t make any sense....it is a scam...honestly
  • #1,291
  • Aug 18, 2010 10:10am Aug 18, 2010 10:10am
Quoting kengur
this broker is really unjust...
i am having TP order hit, and it is not closing it for 10 minutes...

before lowering my TP order I've tried to close my position, but I wasn't successful 10 times...however, I was able to close my loosing positions right away, without any problems

this is really crazy, and does+t make any sense....it is a scam...honestly
Hi Kengur,

Limit orders to take profit will only be filled at your price or better if liquidity is available. There is not unlimited liquidity at each price point. Behind the quote sent from each bank, there is a specific total amount that the banks will execute at that price. If there are 100 orders waiting to be filled at specific price, but there's only enough liquidity to fill 80 orders at that price, then 20 of those orders will go unfilled at that price. The laws of supply and demand are at work here. FXCM is not making the market for NDD forex transactions determining which orders get filled and which go unfilled. If your limit order is rejected at the price you requested, then it could also be filled at a better price if the market continues trading through your limit. An announcement was made last week about price improvements on limit orders.

If you believe there was an error with the execution of your trade, then we are more than happy to review the execution. But reading general descriptions isn't helpful. Please do not hesitate to contact me by email ([email protected]) if you have questions about specific trades, or client services is available 24/7 to help.

Second, whenever opening and closing positions using Market Orders, you can select between having the order type as At Best or Market Range which can impact the execution of your order.

An At Best order will always be executed, but at the best available price. Therefore slippage is possible. If you choose Market Range, you can specify the range of prices you are willing to accept (unlike at best), but it is possible for the order to be rejected if there is no liquidity within the range you specify. As with the execution of the limit order described above, the fill on your market order is determined by liquidity being available at the price you requested. FXCM does not determine how many orders go through at a specific price on NDD forex execution. It is determined by how much liquidity is available by the bank quoting that price.

In case you are not familiar with the Order Type selection, below is a screenshot showing where to find the Order Type in the close position window. Selecting Market Range will enable the grayed out field to the right where you can enter a number which is the allowable pip range from the price you click on.

http://img192.imageshack.us/img192/3...enshotatbe.png



-Jason
  • #1,292
  • Aug 19, 2010 4:34am Aug 19, 2010 4:34am
Quoting Jason Rogers
Hi Kengur,

Limit orders to take profit will only be filled at your price or better if liquidity is available. There is not unlimited liquidity at each price point.

http://img192.imageshack.us/img192/3...enshotatbe.png



-Jason
Jason, when the market goes above my limit sell order (I was long) and stays above that price for 5 minutes, goes 7 pips above and then goes 25 pips below the limit price...then something doesn't work. What doesn't work is your bridge connection with Boston Technologies, OK?
I am on MT4 and sometimes is really annoying...especially when I can't close my winning trade, but I don't have any problems closing the loosing position. That is very annoying.

Your trade audit takes more than 8 days so far...I am not going to argue about a few pips, that is not my point. What is my point is that your platform MT4 with a bridge sometimes doesn't work, it freezes and I am getting "off quote" messages for 10 times.

When that happens that is very annoying. It happened to me 5-10% of the time when I was closing trades, and it is annoying.

You don't have to write anything else, because you can not get in order the problems with BT bridge.

Thanks.

Al I wanted is to write a review and advise people to think about taking MT4 platform instead of Trade Station II if they are choosing FXCM as a broker.

That off quote message/this problem doesn't happen if you are on a Trade Station II (as I was told)
  • #1,293
  • Aug 19, 2010 9:41am Aug 19, 2010 9:41am
Jason,

how is FXCM´s super power making money making machine working luring retail investors into the deep depth of currency speculation ?

Would you please explain to our readers and traders here why your super trooper trading platform was 4 minutes down ( ftotally frozen ) after the realease of Philly FED numbers ?

So, basically my orders have not been filled in GBP/JPY. Nothing worked. 4 minutes is an awful lot of time in currency trading, isn´t it, Jason ?

Guess, what ? I have make a little movie of it and I will send it CFTC/NFA and SEC, FINRA - so they draw the "RIGHT" conclusions about it...

Don´t worry, it was a profitable trade. But it´s going to be fun to see how your regulator is reacting to this kind of "service".

And of course, my account will be closed with you. Because this is THE ONLY ANSWER YOU GUYS UNDERSTAND !

FXCM = take care about your money.
________________________________ Errare humanum est
  • #1,294
  • Aug 19, 2010 9:59am Aug 19, 2010 9:59am
Looks like it's business as usual at FXCM.... more great posts showing how wonderful it is to be trading on the ND STP bull%$T.

Keep up the great work Jason & Co.....
  • #1,295
  • Aug 19, 2010 10:01am Aug 19, 2010 10:01am
Quoting >Apocalypto<
Looks like it's business as usual at FXCM.... more great posts showing how wonderful it is to be trading on the ND STP bull%$T.

Keep up the great work Jason and Co.....
hes tryin hard
  • #1,296
  • Aug 19, 2010 12:15pm Aug 19, 2010 12:15pm
Quoting MisterTrader
Jason,

how is FXCM´s super power making money making machine working luring retail investors into the deep depth of currency speculation ?

Would you please explain to our readers and traders here why your super trooper trading platform was 4 minutes down ( ftotally frozen ) after the realease of Philly FED numbers ?

So, basically my orders have not been filled in GBP/JPY. Nothing worked. 4 minutes is an awful lot of time in currency trading, isn´t it, Jason ?

Guess, what ? I have make a little movie of it and I will send it CFTC/NFA...
Hi MisterTrader,

The platform was not down, but there were hanging orders this morning right after the Philly Fed announcement, and www.FXStatus.com was updated during that period. In case you're not familiar or haven't read through previous posts where I have discussed it with readers, FXStatus.com is updated when there is a technical issue and you can go there to find important information and request a trade audit if a trade was affected.

Did you contact client services about your trade to have it reviewed?

Whenever an order is hanging (pending in the orders window) the order has been sent to the banks for execution. What is happening is that the bank to which the order has been sent is not responding with a confirmation of the order being filled or rejected. This creates a problem because you're left wondering if the trade is going to go through and we're waiting to hear a response back from the bank on whether to submit it to another liquidity provider. The orders have to be routed to another liquidity provider. Some NDD/STP brokers take the approach that these types of situations are out of their control therefore the trader has to suffer the loss. FXCM believes otherwise and will review trades for possible adjustments because we understand situations such as this disrupt your trading even though it may be a problem caused by the banks and you can read countless posts on our thread where we have done so. All trades will be dealt with equitably and our traders will be kept informed of what is happening.

Please feel free to contact me directly at [email protected] if you have any questions or need help with your trade.

Jason
  • #1,297
  • Aug 19, 2010 1:08pm Aug 19, 2010 1:08pm
Quoting Jason Rogers

Whenever an order is hanging (pending in the orders window) the order has been sent to the banks for execution. What is happening is that the bank to which the order has been sent is not responding with a confirmation of the order being filled or rejected. This creates a problem because you're left wondering if the trade is going to go through and we're waiting to hear a response back from the bank on whether to submit it to another liquidity provider.
Jason, while these orders sit pending in the orders window is it possible for the trader to cancel them, that would seem like the fairest way in my opinion and avoid all the uncertainty of whether an order will be filled and at what price.
  • #1,298
  • Aug 19, 2010 1:38pm Aug 19, 2010 1:38pm
haha, what a joke.

one of the reasons why i moved to fxopen.

loving every minute of it.
  • #1,299
  • Aug 19, 2010 1:43pm Aug 19, 2010 1:43pm
I've had a few stuck where it's blasted through the SL and it sits there for ages and then finally closes out -100pips away from my SL.

Only happens on / for volatile moves which is exactly when you don't want it ofcourse.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,300
  • Aug 19, 2010 2:52pm Aug 19, 2010 2:52pm
Quoting pipmutt
Jason, while these orders sit pending in the orders window is it possible for the trader to cancel them, that would seem like the fairest way in my opinion and avoid all the uncertainty of whether an order will be filled and at what price.
Hi pipmutt,

The problem is that if the bank then responds that the orders are done, there will be open orders someone is responsible for. While I can't go into too much detail at the moment, we are working to reduce the impact of the banks communication problems.

-Jason
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