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FXCM Discussion

  • #2,021
  • Edited 12:46pm Aug 5, 2011 12:19pm | Edited 12:46pm
Quoting zam4ever
Sometime, I keep wondering how big percentage of traders trading all these exotic pairs. If not private and confidential, in FXCM database, how much % these pairs traded by FXCM traders, comparing with the other pairs? Also I love to see top twenty most traded pairs traded by FXCM traders (although it is not represent global FX trading).

cheers
Good question. Currency crosses and exotics make up a small percentage of trading volume - most likely less than 2% of volume for most pairs. For example, EUR/JPY makes up the most trading volume of any non-USD pair at about 3%. You can find more data at the 2010 BIS Triennial Central Bank Survey - search for "Turnover by currency pair".

For FXCM, the highest traded symbols are listed in the Advanced Dealing Rates window by default. The symbols with more visibility are more heavily traded.

Just so you know, David Rodriguez of FXCM will likely cover the trading volumes of top pairs during his, "Traits of Successful Traders" at the FXCM Expo in Vegas. PM me as a reminder and I will try to get this data to you.

You can enter the FXCM Expo Contest on Facebook for a chance to attend the Expo: http://www.facebook.com/FXCM?sk=app_112813808737465.

Best of luck with your trading!

- Jason
  • #2,022
  • Aug 5, 2011 5:10pm Aug 5, 2011 5:10pm
You talking about the Franc, I was wondering if FXCM UK is accepting CHF deposits?
  • #2,023
  • Aug 7, 2011 1:36pm Aug 7, 2011 1:36pm
Thank you for your feedback, Jason!

While waiting for withdrawal fee feedback from FXCM, I have another suggestion.

One of attractive metrader platform features is ability to view account with investors password (read / view only access, unable to execute any orders) by ourselves, or third-party (friends, potential clients, enemy...), and this feature can be used for many purposes. But, IIRC, this feature is unavailable in FXCM Trading Station and Active Trader, except FXCM MT4 account.

So, is it possible if similar feature introduced in FXCM TS II and AT platform?

cheers
  • #2,024
  • Aug 7, 2011 1:46pm Aug 7, 2011 1:46pm
Quoting Forex5050
You talking about the Franc, I was wondering if FXCM UK is accepting CHF deposits?
I think they accept CHF deposit via Bank Wire only. Credit / Debit card, paper cheque, and ACH deposits are not accepted.

I refer to:
http://www.fxcm.co.uk/depositing-funds.jsp#BankWire

But, for trading account with CHF as default account currency, I think they don't support it.

cheers
  • #2,025
  • Aug 7, 2011 4:06pm Aug 7, 2011 4:06pm
Hello Jason

http://img190.imageshack.us/img190/9149/capturewsg.jpg


I'm a FXCM client for 1,5 years now, i haven't encountered any problem with software, witdrawals etc.(FXCM is a little slow at withdrawals, but that's not an important problem). Oh and i'm a micro client. Now, i opened my trading station around 1-2 hours ago to check the prices and saw this. Now i very rarely carry trades through weekends so this is the first time i see something like this. When i see the "trading is closed" indicator, i always thought "yeah no opening/closing positions", but certainly not something like this: I thought stoplosses would work even if the trading were closed. This trade(as i wrote this letters, it closed at -147 pips, that's nearly 4 times of my stoploss!!) nearly erased what remained of my gains in the last week. Now, drama aside, i have a few questions:

- Is trading during the weekend is open to the standart account holders?

-Alternatively, if i were a standart account holder, could i just phone the fxcm and close the position even at the weekends?(because i regretted opening that position right after trading was closed, but my mind was calm because of the stoploss)

- Why stoplosses&limits(i guess they don't work either) don't work out of the trading times?

This was a lesson(a VERY costly lesson) for me to never carry trades, well, at least i backtracked profits, this could've ended way worse than that. I'm eagerly waiting your answer.
  • #2,026
  • Aug 7, 2011 4:13pm Aug 7, 2011 4:13pm
Do FXCM allowed sclaping now ? Min holding time and pips gain min ? What a bout news trading ? what is the min distant from the SL and the openning order ?
  • #2,027
  • Aug 8, 2011 10:34am Aug 8, 2011 10:34am
Quoting zam4ever
Thank you for your feedback, Jason!

While waiting for withdrawal fee feedback from FXCM, I have another suggestion.

One of attractive metrader platform features is ability to view account with investors password (read / view only access, unable to execute any orders) by ourselves, or third-party (friends, potential clients, enemy...), and this feature can be used for many purposes. But, IIRC, this feature is unavailable in FXCM Trading Station and Active Trader, except FXCM MT4 account.

So, is it possible if similar feature introduced in...
My pleasure Zam. Investor logins are available for accounts that are managed by a money manager or trading agent (not for the money manager, but for their clients). Individual accounts receive one trading login without an investor login. Like the withdrawal feedback, I'll pass this request to management as well.

Cheers.

- Jason
  • #2,028
  • Aug 8, 2011 10:38am Aug 8, 2011 10:38am
Quoting Jason Rogers
My pleasure Zam. Investor logins are available for accounts that are managed by a money manager or trading agent (not for the money manager, but for their clients). Individual accounts receive one trading login without an investor login. Like the withdrawal feedback, I'll pass this request to management as well.

Cheers.

- Jason
That's great! Also looking forward for your management feedback. I believe if above features offered, and withdrawal fee revised, surely it will attract more clients.

cheers
  • #2,029
  • Aug 8, 2011 10:45am Aug 8, 2011 10:45am
Quoting Forex5050
You talking about the Franc, I was wondering if FXCM UK is accepting CHF deposits?
Yes, FXCM UK offers CHF denominated trading accounts and accepts CHF deposits. You'll find more details at http://www.fxcm.co.uk/open-forex-account.jsp.

Hope that helps!

- Jason Rogers
  • #2,030
  • Aug 8, 2011 10:50am Aug 8, 2011 10:50am
Quoting Jason Rogers
Yes, FXCM UK offers CHF denominated trading accounts and accepts CHF deposits. You'll find more details at http://www.fxcm.co.uk/open-forex-account.jsp.

Hope that helps!

- Jason Rogers
Dear Jason,

May be this page should be updated by webmaster.

cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: FXCM UK CHF Dominated Currency.PNG Size: 79 KB
Click to Enlarge Name: FXCM UK CHF Dominated Currency 2.PNG Size: 14 KB
  • #2,031
  • Aug 8, 2011 10:59am Aug 8, 2011 10:59am
Quoting bassat
Do FXCM allowed sclaping now ? Min holding time and pips gain min ? What a bout news trading ? what is the min distant from the SL and the openning order ?
Thanks for asking bassat. I'm FXCM's Ambassador to the Forex Factory forums and I would be happy to explain our execution.

Yes, you can scalp, trade news, and trade without entry order restrictions at FXCM. We offer No Dealing Desk (NDD) Forex execution and we earn the same amount of money regardless of trade profitability.

Likewise, you can place your SL as close as you want to opening forex orders and you have no restriction on minimum pips gained before closing a trade.

Let me know if you have more questions and best of luck trading!

- Jason Rogers
  • #2,032
  • Aug 8, 2011 11:01am Aug 8, 2011 11:01am
Quoting zam4ever
Dear Jason,

May be this page should be updated by webmaster.

cheers
Yes, you're right. We'll update.
  • #2,033
  • Aug 8, 2011 11:58am Aug 8, 2011 11:58am
Dear Jason,

If i open FXCM account under Australia branch, how is the safety of fund held by FXCM Australia?
  • #2,034
  • Aug 8, 2011 12:54pm Aug 8, 2011 12:54pm
Thanks for sharing Eorekan. As a trader myself, I know the feeling of watching markets move while trading is closed over the weekend. It's a tough lesson that I have experienced myself as well.

I've provided some answers to your questions but the most important guideline for holding trades over the weekends is to be aware of how market news can affect long term positions like carry trades.

This weekend (as you already know), we had speculation of lowered credit ratings on US debt, which significantly increased the likelihood that prices will change over the weekend. As traders, we have to decide if we want to keep positions open, close them, or move stops and limits before the weekend so that positions are not prematurely closed.

Is trading during the weekend is open to the standart account holders?

It is not possible to place, modify, or cancel orders when the trading desk is closed regardless of account type. You can place trades once the trading desk opens after the weekend. For FXCM, our trading hours are from Sunday 5:15 pm ET (New York Time) – Friday 4:00 pm ET (New York Time).

Why stoplosses&limits(i guess they don't work either) don't work out of the trading times?

Most major price providers (banks, financial institutions, etc.) are closed during the weekend, so there are very few available prices for trading outside of FXCM's quoted hours. This is why trading is not available until trading open at 5:15 PM ET on Sunday.

I hope that helps and good luck with your future trading.

- Jason Rogers


Quoting Eorekan
Hello Jason

http://img190.imageshack.us/img190/9149/capturewsg.jpg


I'm a FXCM client for 1,5 years now, i haven't encountered any problem with software, witdrawals etc.(FXCM is a little slow at withdrawals, but that's not an important problem). Oh and i'm a micro client. Now, i opened my trading station around 1-2 hours ago to check the prices and saw this. Now i very rarely carry trades through weekends so this is the first time i see something like this. When...
  • #2,035
  • Aug 9, 2011 11:50am Aug 9, 2011 11:50am
Quoting mattrader
Dear Jason,

If i open FXCM account under Australia branch, how is the safety of fund held by FXCM Australia?
Hi mattrader,

Thanks for asking. FXCM Australia is locally regulated by ASIC (Australian Securities and Investments Commission) in Australia.

Regarding safety of funds, FXCM is publicly traded on the New York Stock Exchange and regularly reports our financials for anyone interested.

To learn more, visit http://www.forextrading.com.au/. If you have other questions, then let me know!

Cheers,

- Jason
  • #2,036
  • Aug 9, 2011 12:50pm Aug 9, 2011 12:50pm
i am from pakistan is fxcm micro lots can give me facility to deposit by credit card please looking at this matter i wish to open account with fxcm micro lots with my credit card because bank wire is impossible for small accounts in pakistan please give solution
Trading by EA
  • #2,037
  • Aug 10, 2011 1:47am Aug 10, 2011 1:47am
Quoting Jason Rogers
Hi mattrader,

Thanks for asking. FXCM Australia is locally regulated by ASIC (Australian Securities and Investments Commission) in Australia.

Regarding safety of funds, FXCM is publicly traded on the New York Stock Exchange and regularly reports our financials for anyone interested.

To learn more, visit http://www.forextrading.com.au/. If you have other questions, then let me know!

Cheers,

- Jason
Hi Jason

Does FXCM have any plans to introduce CFDs on grains, softs,meats?

I saw that FXCM offers metals and energies but what about other markets?


Slovforex
  • #2,038
  • Edited 10:48am Aug 10, 2011 10:05am | Edited 10:48am
Quoting mmudasir
i am from pakistan is fxcm micro lots can give me facility to deposit by credit card please looking at this matter i wish to open account with fxcm micro lots with my credit card because bank wire is impossible for small accounts in pakistan please give solution
Hi mmudasir

Yes, you can deposit funds by credit card to an FXCM Microlot account. Did you have issues with depositing funds with this method? If you did, then please send me a private message and I can help you.

Let me know if you have more questions.

- Jason Rogers
  • #2,039
  • Edited 12:17pm Aug 10, 2011 11:06am | Edited 12:17pm
Quoting slovforex
Hi Jason

Does FXCM have any plans to introduce CFDs on grains, softs,meats?

I saw that FXCM offers metals and energies but what about other markets?


Slovforex
Hi Slovforex

FXCM is always looking to introduce new CFD products and I'll pass along your feedback to management.

We recently launched the Dow Jones FXCM Dollar Index basket (USDOLLAR) on live accounts with FXCM UK. If you have an FXCM UK account, the tradeable symbol is USDOLLAR in the FXCM Trading Station.

The USDOLLAR is available to trade on demo accounts for FXCM US and FXCM Australia customers and will be available for real accounts soon.

Thanks for the feedback and good luck trading!

- Jason Rogers
  • #2,040
  • Aug 10, 2011 12:45pm Aug 10, 2011 12:45pm
If you're long the CHF, beware of rollover charges increasing (especially on EUR/CHF) as a result of the Swiss National Banks cut to short term interest rates last week. Overnight rates for the CHF have fallen to record lows which is part of the SNB's attempt to make it less attractive to buy the CHF. The result being that it is more expensive to hold long positions in the Swiss Franc.

Below is a screenshot from Bloomberg of overnight rates in the franc, and a complete article from DailyFX can be found here http://www.dailyfx.com/forex/fundame..._Rollover.html

http://media.dailyfx.com/illustratio..._Picture_5.png


Let me know if you have any questions.

-Jason
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