Jason: does Lucid provide liquidity on the Activetrader platform?
- #3,122
- Oct 10, 2012 2:37pm Oct 10, 2012 2:37pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
Hi Soso,
As I mentioned in this post you quoted, FXCM's new lower spreads are available on our new DD execution. Click here to register for a free demo account with FXCM's new lower spreads. You will see the spread for EUR/USD is typically 1.6 pips, a full pip less than on our NDD execution.
http://imageshack.us/a/img651/6861/n...ds2012sept.png
FXCM...
My question relates to the new lower spread trading accounts. Are these accounts available for micro account holders? Are there commissions payable? Is there a certain volume that must be traded on a monthly basis?
Does FXCM have a PAMM system? Do you offer managed accounts? can we possibly correspond off board, privately?
Thanks
Hannes
- #3,124
- Oct 11, 2012 5:54pm Oct 11, 2012 5:54pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
Hi Jason, first off, many thanks for always being around to answer questions, with patience
My question relates to the new lower spread trading accounts. Are these accounts available for micro account holders? Are there commissions payable? Is there a certain volume that must be traded on a monthly basis?
Does FXCM have a PAMM system? Do you offer managed accounts? can we possibly correspond off board, privately?
Thanks
Hannes
Thanks for your appreciation
You can open a micro account with our new lower spreads. There are no commissions on top of the spread and no volume requirements.
FXCM does have a PAMM system. We don't manage accounts ourselves, but there are traders who manage accounts for their own clients using our platform. You can email me at [email protected]
Jason
- #3,125
- Oct 11, 2012 6:06pm Oct 11, 2012 6:06pm
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Hi Hannes,
Thanks for your appreciation
You can open a micro account with our new lower spreads. There are no commissions on top of the spread and no volume requirements.
FXCM does have a PAMM system. We don't manage accounts ourselves, but there are traders who manage accounts for their own clients using our platform. You can email me at [email protected]
Jason
Options are good, but the lower spread will only help scalpers and you can't scalp with DD, which is a shame being a scalper.
This seems like a you can get lower spreads like elsewhere if you want, but it will suck just like everyone else with lower spreads statement to me.
Getting many takers ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #3,127
- Oct 12, 2012 10:07am Oct 12, 2012 10:07am
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
So you can choose DD, basically poor execution and sign up for all the things you really don't want / like for a 1 pip ish saving all round.
Options are good, but the lower spread will only help scalpers and you can't scalp with DD, which is a shame being a scalper.
This seems like a you can get lower spreads like elsewhere if you want, but it will suck just like everyone else with lower spreads statement to me.
Getting many takers ??
You've had experience with dealing desks in the past, so I can understand your skepticism
Dealing desk execution is used by most brokers in the forex industry, but what makes ours different is that we use the FXCM NDD price feed as a base to derive prices and execute orders. That means our dealing desk execution shares important features with our NDD execution such as no re-quotes and no restrictions on stops and limits. As you pointed out though, there are fundamental differences between the two execution models.
Operating a dealing desk can be riskier than providing NDD execution because we (the market maker) are on the other side of your trades. When you are long a currency pair, we are short. When you are short, we are long. Likewise, when you trade profitably, we may experience trading losses. Most dealing desks manage their trading losses by interfering with their client's trading such as re-quoting their orders, delaying their execution, skewing prices, or widening spreads. We do none of that at FXCM.
If your trading style exposes us to more risk than we care to manage, we will simply change your execution type to NDD, where there are no restrictions on the trading style or strategy used. This is how FXCM can comfortably offer both options without having to resort to the "dealer intervention" that is common at many forex brokers. Automated strategies and strategies that trade at a high frequency or scalp the market are least suitable for dealing desk execution. We encourage traders who use these types of strategies to open an account that provides them with NDD execution, which is compatible with all trading strategies.
We launched our new lower spreads for FXCM UK and FXCM Australia just recently but have already seen interest from traders. The new spreads will be available for FXCM US soon. I'll keep you guys posted.
Jason
- #3,128
- Oct 12, 2012 1:03pm Oct 12, 2012 1:03pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #3,129
- Oct 12, 2012 2:48pm Oct 12, 2012 2:48pm
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Hi Turveyd,
You've had experience with dealing desks in the past, so I can understand your skepticism
Dealing desk execution is used by most brokers in the forex industry, but what makes ours different is that we use the FXCM NDD price feed as a base to derive prices and execute orders. That means our dealing desk execution shares important features with our NDD execution such as no re-quotes and no restrictions...
To summarise, basically if your trading at a loss over all then DD is fine, it reduces your costs slightly as you learn, but as soon as you become profitable the spreads go up back to NDD.
As 99% of people are trading at a loss, you get to keep all of the losses which will add up ofcourse to a lot more than the tiny margin on the spread you generally take.
Options are good and all that, but I think I'll stick with NDD thanks!!
No doubt you'll allow some small profitable traders as the losses from others will easily cover there costs.
I trade DAX / GER30 at 1pip anyway so I'm fine, great deal considering how well it moves!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #3,130
- Oct 15, 2012 6:25pm Oct 15, 2012 6:25pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #3,132
- Oct 15, 2012 7:04pm Oct 15, 2012 7:04pm
- | Membership Revoked | Joined Nov 2010 | 3,324 Posts
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
- #3,133
- Oct 16, 2012 3:55am Oct 16, 2012 3:55am
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #3,134
- Oct 16, 2012 5:21am Oct 16, 2012 5:21am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #3,135
- Oct 16, 2012 6:13am Oct 16, 2012 6:13am
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #3,137
- Oct 16, 2012 8:38am Oct 16, 2012 8:38am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #3,138
- Oct 16, 2012 10:03am Oct 16, 2012 10:03am
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #3,139
- Oct 16, 2012 10:13am Oct 16, 2012 10:13am
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
if there trading while there working within the office then i understand but if there trading in the comfort of there own home then there's no problem, forex is 24/6
I run automated strategies primarily, and just check on them periodically
Jason
- #3,140
- Oct 16, 2012 10:16am Oct 16, 2012 10:16am
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
Wonder if he can cancel and refund all of his losing trades, that would be cool!!
