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FXCM Discussion

  • #2,161
  • Oct 4, 2011 2:42am Oct 4, 2011 2:42am
the spread isn't so big as it looks,
you pay no comission at FXCM,
I think most people don't realise that,
at first look I agree it might look big,
but if you think about thats all you pay
it's really not that big at all,
FXCM mark up the spread,
thats their comission.
there is no more fees than that.
if you compare that to a ECN broker,
who uses comission on top of the spread,
FXCM might in some cases even be cheaper.
Bulls are stupid Animals!especially when Im short!
  • #2,162
  • Edited 4:01am Oct 4, 2011 3:48am | Edited 4:01am
Quoting roughtrader
the spread isn't so big as it looks,
you pay no comission at FXCM,
I think most people don't realise that,
at first look I agree it might look big,
but if you think about thats all you pay
it's really not that big at all,
FXCM mark up the spread,
thats their comission.
there is no more fees than that.
if you compare that to a ECN broker,
who uses comission on top of the spread,
FXCM might in some cases even be cheaper.
i encourage you to take an honest look at VantageFx, GoMarkets, FxOpen ECN, and Varengold Bank. Better yet, use mt4i.com or fxintel.com to compare spreads.

There is obviously much more to this game than spreads. Spreads should be on the lower list of things to consider. Ultimately, each broker will have their own business model, and they are entitled to whatever profits they want. The competition is getting larger and smarter; you would think by now spreads should be competitive enough to where the conversation of broker choice focuses more on platform stability, withdrawals, execution, leverage, etc.
Measure trends automatically with zero lag
  • #2,163
  • Oct 6, 2011 11:33pm Oct 6, 2011 11:33pm
I'm sure somewhere in this massive thread this has been answered but

what is the market price difference in pips before a pending order can be opened? I know on alprai uk its 30 on some pairs less on others

does fxcm have other things to trade like index's futures etc? or just forex pairs.

I'm sure fxcm trades against you like every other scab broker but what i want to know is scalping ok? like 7 pips 10pips what is the limit.
thx
  • #2,164
  • Oct 7, 2011 8:55am Oct 7, 2011 8:55am
Quoting ybfjax
i encourage you to take an honest look at VantageFx, GoMarkets, FxOpen ECN, and Varengold Bank. Better yet, use mt4i.com or fxintel.com to compare spreads.

There is obviously much more to this game than spreads. Spreads should be on the lower list of things to consider. Ultimately, each broker will have their own business model, and they are entitled to whatever profits they want. The competition is getting larger and smarter; you would think by now spreads should be competitive enough to where the conversation of broker choice focuses more...
Thanks for the tips, but for now I plan to stay with FXCM,
you are right, there is more to this than spreads,
the spreads are important but not the most important thing
when chosing a fx broker, the most important thing in my view is to get payed out when you win,
what good are the lowest spread in the world to you
if you never get payed out on your winnings?
after all, we all trade to win money,
imagine your self you trade day out and day in for months
and finally when you want to withraw for all your hard work,
the broker refuse to pay out, there is such brokers out there,
I don't want to put my self in that situation,
I know FXCM isn't exactly angels, but no fx broker in the world is,
there is no angle brokers in the fx industri,
atleast not for the small retail trader,
and it's not like FXCM will disapear and run with the money,
FXCM is stable, listed at NYSE and they will be there when you wake up
they are well regulated and your money is safe.
amongst all the fx brokers in the world that go a long way,
FXCM are known to allways pay out their clients,
because of that and of their good financing I will stay with them,
atleast as long as they treat me good and don't interfere with my trades,
I have seen nothing of that under all the time I traded with them.
not a single requote! and no other bucket symptoms
which are well known to me,
sometimes there are slippage, but that is normal in volatile markets.
they apear to not interfere with my trades at all,
therefore I can't do other than recommend them.
Bulls are stupid Animals!especially when Im short!
  • #2,165
  • Oct 7, 2011 11:28am Oct 7, 2011 11:28am
Well put......


Quoting roughtrader
Thanks for the tips, but for now I plan to stay with FXCM,
you are right, there is more to this than spreads,
the spreads are important but not the most important thing
when chosing a fx broker, the most important thing in my view is to get payed out when you win,
what good are the lowest spread in the world to you
if you never get payed out on your winnings?
after all, we all trade to win money,
imagine your self you trade day out and day in for months
and finally when you want to withraw for all your hard work,
the broker refuse to pay out,...
  • #2,166
  • Oct 7, 2011 12:01pm Oct 7, 2011 12:01pm
Hi Tommbstone,

Appreciate the questions.

Quoting tommbstone
what is the market price difference in pips before a pending order can be opened? I know on alprai uk its 30 on some pairs less on others.

does fxcm have other things to trade like index's futures etc? or just forex pairs.

I'm sure fxcm trades against you like every other scab broker but what i want to know is scalping ok? like 7 pips 10pips what is the limit.
There are no restrictions on how close you can place stops, limits or pending forex orders.

With FXCM UK you can trade gold, oil, stock indices, and the USDOLLAR symbol. You can view a list of available instruments at http://www.fxcm.co.uk/spreads.jsp.

Yes, scalping is accepted at FXCM. However, FXCM is not a market maker. We use No Dealing Desk (NDD) forex execution. With FXCM’s NDD forex execution, any profit resulting from your trade is not a loss for FXCM and any loss resulting from your trade is not profit for FXCM because every trade is hedged one for one with one of multiple banks or financial institutions.

Let me know if you have additional questions.


- Jason
  • #2,167
  • Oct 8, 2011 10:52am Oct 8, 2011 10:52am
Dear Jason Rogers


can you be of assistance to me, i am trying to open a live account with FXCM, but i seem to be having a little problem. i live in Nigeria and i am trying to get information on how to make payments to my account but the page keep showing an error



upstream write/read error

Host: www.myfxcm.com
Url: /fxma/?plugin=0&ib=FXCMUKMICRO
  • #2,168
  • Oct 8, 2011 1:19pm Oct 8, 2011 1:19pm
Are you using USD? just a thought. I think they only offer accounts in USD _ EUR_ and GBP you would have to check the policy on the site.

Quoting Adeleke
Dear Jason Rogers

can you be of assistance to me, i am trying to open a live account with FXCM, but i seem to be having a little problem. i live in Nigeria and i am trying to get information on how to make payments to my account but the page keep showing an error
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,169
  • Oct 8, 2011 1:32pm Oct 8, 2011 1:32pm
Quoting XTrade
Are you using USD? just a thought. I think they only offer accounts in USD _ EUR_ and GBP you would have to check the policy on the site.



Yes, i intend to use USD,my concern is with the inter bank charges(bank wire) from here to there. Is there an agent here in Nigeria or any other plan to reduce the charges?
  • #2,170
  • Oct 8, 2011 1:40pm Oct 8, 2011 1:40pm
The exchange rate is what it is. The wire fee is usually up to the bank.

Why don't you call the new york help desk.

Unless they are running a promo I don't see why they would reduce the exchange rate in your favor.

As far as the wire goes, I don't remember if FXCM charges as well as the bank,
.

If they don't - again go to website - there is nothing FXCM can do about the banks wire fee.

Also It is almost 3 pm in NY and Monday is a Holiday, point being banks that are open are closing in 20 minutes. A wire wouldn't go thru during the weekend any way.

I would try funding using a
credit/ debit card and making your life easier and cheaper. There is no charge.
and I think you can do up to 10K.

I don't work for FXCM so quote me not
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #2,171
  • Oct 8, 2011 2:25pm Oct 8, 2011 2:25pm
Quoting Adeleke
Dear Jason Rogers


can you be of assistance to me, i am trying to open a live account with FXCM, but i seem to be having a little problem. i live in Nigeria and i am trying to get information on how to make payments to my account but the page keep showing an error



upstream write/read error

Host: www.myfxcm.com
Url:...
I don't know but that sounds like some kind of browser error to me,
make sure you use a good browser, I recommend Firefox or Internet Exlorer,
allow cookies and everything, it is possible your browser is set too tight,
I don't know the policy of Nigeria, if they might be blocking something?
in that case maybe the use of a proxy could be a good idea?
there is plenty of free proxys around, they are a little slow though.
there could also be some issue with your gear such as router with built in firewall,
you could check that too.
other than that Im clueless,
hope that helps

which Browser are you using?
Bulls are stupid Animals!especially when Im short!
  • #2,172
  • Oct 10, 2011 11:25am Oct 10, 2011 11:25am
Quoting Adeleke
i am trying to open a live account with FXCM, but i seem to be having a little problem. i live in Nigeria and i am trying to get information on how to make payments to my account but the page keep showing an error upstream write/read error

Host: www.myfxcm.com Url: /fxma/?plugin=0&ib=FXCMUKMICRO
Hi Adeleke,

I want to add to the feedback XTrade and RoughTrader gave you. If you need funding information, you most likely opened your account with FXCM UK and you can use the funding information at http://www.fxcm.co.uk/depositing-funds.jsp#BankWire. If you opened with FXCM US, then the funding information is at: http://www.fxcm.com/deposit-forex-funds.jsp#BankWire.

Along with RoughTrader's tech recommendations, you can try clearing your cookies if you cannot access myfxcm.com.

Xtrade is right that FXCM does not charge for incoming bank wires - any fees will be from your bank so you would need to speak with them. Please also make sure to exchange funds to USD before you complete the bank wire.

If you want me to check on the status of your account or incoming funds, then email me at [email protected].

Thanks!


- Jason
  • #2,173
  • Oct 10, 2011 11:38am Oct 10, 2011 11:38am
Quoting Jason Rogers
Hi Adeleke,

I want to add to the feedback XTrade and RoughTrader gave you. If you need funding information, you most likely opened your account with FXCM UK and you can use the funding information at http://www.fxcm.co.uk/depositing-funds.jsp#BankWire. If you opened with FXCM US, then the funding information is at: http://www.fxcm.com/deposit-forex-funds.jsp#BankWire.

Along with RoughTrader's tech recommendations, you can try clearing your cookies if you cannot access myfxcm.com.

Xtrade...




Thanks, Am actually still at a cross-road between Fxopen and FXCM. My favorite right now is FXCM because of the signal service they offer. However, i have gone through their site and have not seen much about the success of the signal service. No monthly, weekly or daily feedback on the signals fxcm gives. If daily Fx plus isn't as reliably as claimed, then it Fxopen for me. Lower spread and lower capital.
  • #2,174
  • Oct 11, 2011 1:05pm Oct 11, 2011 1:05pm
Quoting Adeleke
Thanks, Am actually still at a cross-road between Fxopen and FXCM. My favorite right now is FXCM because of the signal service they offer. However, i have gone through their site and have not seen much about the success of the signal service. No monthly, weekly or daily feedback on the signals fxcm gives. If daily Fx plus isn't as reliably as claimed, then it Fxopen for me. Lower spread and lower capital.
Hi Adeleke,

Thanks for your reply. You can view 60 day performance statistics by logging into the DailyFX PLUS Trial Login below:

The link to log into DailyFX PLUS is http://www.dailyfx.com/forex_trading_signals/http://www.dailyfx.com/forex_trading_signals/
Username: trydfx_public
Password: Eurusd1011

To view the 60 Day Performance, click on "Classic Signals" and then scroll down to Strategy Performance. The below screenshot gives you the 60 day performance statistics as of 11 October:

http://i53.tinypic.com/2wcffip.jpg


To help you interpret the statistics, here are some definitions.

# Open Trades is the number of current trade signals in each strategy.

Accuracy Percentage is the percentage of all trade signals in the last 60 days that were executed as instructed by the strategy and accurately predicted profitable trades.

Avg Pips is the average number of pips returned per trade in the strategy over the past 60 days.

Generally speaking, different signals will perform better based on the market conditions. What I love about the signals is that you get a quick snapshot of proprietary strategies and what directional bias they have.

I hope you enjoy the free trial and let me know if you have more questions!


- Jason
  • #2,175
  • Oct 12, 2011 3:22am Oct 12, 2011 3:22am
Quoting Jason Rogers
Hi Adeleke,

Thanks for your reply. You can view 60 day performance statistics by logging into the DailyFX PLUS Trial Login below:

The link to log into DailyFX PLUS is http://www.dailyfx.com/forex_trading_signals/http://www.dailyfx.com/forex_trading_signals/
Username: trydfx_public
Password: Eurusd1011

To view the 60 Day Performance, click on "Classic Signals" and then scroll down to Strategy Performance. The below screenshot gives you the 60 day performance statistics as of 11 October:

http://i53.tinypic.com/2wcffip.jpg

To...



Thanks mate, really appreciate the feedback. Looking at it now, it seems really interesting
  • #2,176
  • Oct 12, 2011 11:13am Oct 12, 2011 11:13am
Quoting Adeleke
Thanks mate, really appreciate the feedback. Looking at it now, it seems really interesting
Anytime! That login will last until Oct 15th so just send me a message if you need another before your live account is complete. Once you get your live account login, you'll have unlimited free access to DailyFX PLUS.

If you have questions about DailyFX or DailyFX PLUS, then ask me here!


- Jason
  • #2,177
  • Oct 12, 2011 11:25am Oct 12, 2011 11:25am
Jason, I visit FXCM UK website today, and saw "Web Login". Once logged in, the interface is same as FXCM TS II.

I'm not sure either the menu / link has been there before, on top of right corner, but it is surely a great platform / tool. Previously, I'm relying on Java Trading Station if using non-windows PC / laptop.

cheers
  • #2,178
  • Oct 12, 2011 12:26pm Oct 12, 2011 12:26pm
Quoting zam4ever
Jason, I visit FXCM UK website today, and saw "Web Login". Once logged in, the interface is same as FXCM TS II.
Thanks Zam for the post!

I’m excited to announce the launch of FXCM’s new online web platform called Trading Station Web. Login Now

The Trading Station Web platform is available at https://tsweb.fxcorporate.com/

You now have access to the Trading Station in three formats – on your web browser, desktop software and mobile devices.

We’ve added a link to access the web platform from our FXCM US and FXCM UK homepages:

http://i54.tinypic.com/15zkz9f.jpg


For our UK traders near London, FXCM is hosting live, free seminars every second Wednesday at 6 PM in our London Office. In these seminars, our in-house Analysts and Traders will show you how to combine technical with fundamental analysis, how to place trades via the platform and how to formulate your own trading strategy. You can view the schedule and register at http://www.fxcm.co.uk/spread-betting-strategies.jsp. We look forward to seeing you there!

If you have feedback or questions, then let me know!


-Jason
  • #2,179
  • Oct 12, 2011 12:29pm Oct 12, 2011 12:29pm
Quoting Jason Rogers
Thanks Zam for the post!

I’m excited to announce the launch of FXCM’s new online web platform called Trading Station Web. Login Now

The Trading Station Web platform is available at https://tsweb.fxcorporate.com/

- Jason
Haha, so is it above web platform just launch today? Cool! So, Java Trading Station will still be offered in future or will be discontinue after certain period?

cheers
  • #2,180
  • Oct 13, 2011 1:40am Oct 13, 2011 1:40am
Quoting Jason Rogers
Anytime! That login will last until Oct 15th so just send me a message if you need another before your live account is complete. Once you get your live account login, you'll have unlimited free access to DailyFX PLUS.

If you have questions about DailyFX or DailyFX PLUS, then ask me here!


- Jason


Something has gone wrong Jason, can't log in again
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