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  • #3,281
  • Jan 9, 2013 1:49pm Jan 9, 2013 1:49pm
Quoting trpg
Jason,

Country I am speaking about is India.... Please clarify your view now.

Thanks,
trpg
Hi Trpg,

While our regulators don't require us to report client info to other governments, the onus is on clients to abide by regulations where they live. I tried searching online just now for info on this specifically in regards to India, but there seem to be conflicting views on the topic. If your friend has any concerns about this, it would be best for him to ask a legal expert in India. I can only tell you that our own policies allow us to accept applications from most countries in the world including India.

Jason
  • #3,282
  • Jan 9, 2013 1:58pm Jan 9, 2013 1:58pm
Quoting AlbinaGrande
Thanks again. I have set up a new MT4 Demo which I can launch from a TS2 splash screen on both my local machine and VPS. It emulates TS2 and permits me now to link to a Forex Factory Trade Explorer which I have created. My only question is are there any quirks associated with this configuration that I need to be aware of? Bob
I haven't heard reports of any quirks, but I don't know how many people are using both Trading Station and Trade Explorer.
  • #3,283
  • Jan 9, 2013 2:16pm Jan 9, 2013 2:16pm
Quoting Jason Rogers
I haven't heard reports of any quirks, but I don't know how many people are using both Trading Station and Trade Explorer.
Thanks Jason, I will keep you posted if anything turns up. Bob
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #3,284
  • Edited 4:15pm Jan 10, 2013 9:56am | Edited 4:15pm
Hello hi-respected Traders,


here my adventurous experiences with the broker FXCM ltd. after a few weeks with a NDD (no dealing desk) account:

This so called NDD model is a pure marketing gag of the biggest unashamedly market maker broker!!!

- Disconnections when prices move fast through important support / resistance zones like keylelevels, trendlines, Fiblevels etc.

- Requotes, Requotes, Requotes!!! More than often it is impossible to get in and out of trades under fast moving market conditions.

- Unashamedly high spreads and often negative slippage.Not my trading styles, but news trading, scalping : Forget it!!!

- Stop fishing with price spikes.Not very often, but it happened.Compared my trades with FXCM`s and other brokers realtime charts.
When one of my trades was stopped out with a price spike I was alerted, in some cases FXCM`s and other brokers realtime charts didn`t show a spike.

- Wrong Pivot Points in the Trading Station 2.
Coded for the success of FXCM, not for the "stupid" retail traders.It`s impossible to work with these fantasy pivot points.

- When contacting FXCM`s support all you hear is: "It was not our mistake.We provide the best prices available from our liquid providers.With our no dealing desk model you can trade anonymous without requotes.Multiple liquidity providers compete to provide FXCM with tight spreads and don`t act as a market maker.We don`t trade against our clients."Bla, bla, bla!

- When posting these problems in open forums, all you hear is: "Sorry, that you`ve this kinds of problems with our service.We had an issue and will check it." To all traders who read this thread here on Forex Factory alone: How many issues did FXCM`s puppets on strings post here?Is this a broker you can trust?

Summarized, I had the same problems claimed by many other traders here in Forex Factory and other forums.
I don`t trust this broker anymore and will close my account now.
Trading is not an easy thing, you can master it with experience, discipline and rules.
But trading against a market maker with all kinds of tricks and manipulations, it`s impossible.

I strongly recommend: Don`t trade with this broker!!! Do not walk away, run!!!
It ain`t no big thing, but it`s growing.
  • #3,285
  • Jan 10, 2013 6:06pm Jan 10, 2013 6:06pm
Quoting mctrade
Hello hi-respected Traders,


here my adventurous experiences with the broker FXCM ltd. after a few weeks with a NDD (no dealing desk) account:

This so called NDD model is a pure marketing gag of the biggest unashamedly market maker broker!!!
Hi McTrade,

You made several points, and I would like to to address them one by one.

Quoting mctrade
- Disconnections when prices move fast through important support / resistance zones like keylelevels, trendlines, Fiblevels etc.
What you describe is not the experience of the vast majority of traders. If you are using a wireless internet connection, consider switching to a hard-wired connection. If you find you are getting frequent disconnects on a hard-wired connection, it could indicate a tech issue. We'd be happy to look into that for you.

Quoting mctrade
- Requotes, Requotes, Requotes!!! More than often it is impossible to get in and out of trades under fast moving market conditions.
FXCM does not requote. Are you referring to the "off quotes" message on the MT4 platform? That message would appear if the best price currently available is outside of the Maximum Deviation range you set for the order. The Maximum Deviation setting allows you to control slippage by setting a maximum deviation of pips from the order price submitted that you are willing to be filled, but if you are trading during volatile market conditions then a tight maximum deviation could cause your order to be rejected based on fast market movement. Our Trading Station has a similar feature called Market Range.

Quoting mctrade
- Unashamedly high spreads and often negative slippage.Not my trading styles, but news trading, scalping : Forget it!!!
We don't control the spread on our NDD forex execution. The platform receives the best bid and ask prices from 10+ liquidity providers, and we just add our pip markup which acts as a commission. Just as you see in equities and futures markets, spreads will often widen during illiquid trading conditions such as during news events and rollover. There is less price competition to drive spreads lower. In regards to negative slippage, here's a link with stats on positive slippage vs. negative slippage: http://docs.fxcorporate.com/faq/slippage-statistics.pdf

You can see from there that overall, our clients receive positive slippage just as frequently as negative slippage. Now your particular style of trading my cause you to receive more negative slippage or positive slippage. For example, limit orders are the most common type of order to receive positive slippage. A trader who uses Limit Entry Orders to open trades and Limit Orders to exit trades, will receive positive slippage more frequently than a trader who uses Stop Entry Orders to open trades and Trailing Stops to exit trades. And you don't have to take my word for it. FXCM is required to submit daily reports to the NFA regarding the orders that are executed on our platforms including how much positive and negative slippage occurred.


Quoting mctrade
- Stop fishing with price spikes.Not very often, but it happened.Compared my trades with FXCM`s and other brokers realtime charts.
When one of my trades was stopped out with a price spike I was alerted, in some cases FXCM`s and other brokers realtime charts didn`t show a spike.
Again, this is not the case because our NDD pricing is determined by the best bid and ask being quoted from our liquidity providers, and they can't see where your stops are located.

Quoting mctrade
- Wrong Pivot Points in the Trading Station 2.
Coded for the success of FXCM, not for the "stupid" retail traders.It`s impossible to work with these fantasy pivot points.
I'm not sure what you mean by this. How would we be able to set a pivot level to our benefit? If you feel there is an error in one of our chart indicators, please post some screenshots and we'll look into it.

Quoting mctrade
- When contacting FXCM`s support all you hear is: "It was not our mistake.We provide the best prices available from our liquid providers.With our no dealing desk model you can trade anonymous without requotes.Multiple liquidity providers compete to provide FXCM with tight spreads and don`t act as a market maker.We don`t trade against our clients."Bla, bla, bla!
If there is an error in our trade execution, the Trade Audit Committee will make the appropriate adjustment to your account, and there are many examples of this on the forum.

Quoting mctrade
- When posting these problems in open forums, all you hear is: "Sorry, that you`ve this kinds of problems with our service.We had an issue and will check it." To all traders who read this thread here on Forex Factory alone: How many issues did FXCM`s puppets on strings post here?Is this a broker you can trust?
I agree with you that traders on Forex Factory should review our thread, and I am confident they will find that FXCM has been open to discussing and fixing problems at every opportunity for nearly 4 years in an effort to provide the best trading experience possible. We always strive to improve the quality of our platform. If a tech issue occurs, we own up to it, and make it right with our clients. FXCM has grown to over 170,000 active retail accounts as of (our last monthly metrics release) at a time when our competitors have struggled and many have exited the market, and I believe the stability of our system, customer service, value added services, and more speak to that. Trust and transparency are more important now than ever especially with what we have seen with MF Global losing bets with client funds or outright fraud by PFG. FXCM is one of the few publicly traded forex brokers (NYSE: FXCM), and safety of funds is an important factor in choosing a broker.

Quoting mctrade
Summarized, I had the same problems claimed by many other traders here in Forex Factory and other forums.
I don`t trust this broker anymore and will close my account now.
Trading is not an easy thing, you can master it with experience, discipline and rules.
But trading against a market maker with all kinds of tricks and manipulations, it`s impossible.

I strongly recommend: Don`t trade with this broker!!! Do not walk away, run!!!
If you ever have any questions, you're always welcome to post on our thread as you have in the past, and I will be here to help. I wish you the best of luck with your future trading.

Jason
  • #3,286
  • Jan 10, 2013 11:27pm Jan 10, 2013 11:27pm
i 100% agree with jason rogers.yes FXCM is a fair/honest broker.i remember the 14 sept 2012 when fed announce QE and gold prices first drop to 1717 and i place a stop buy order at 1728 but when gold prices travel from 1717 to 1724 then suddenly it jumps to 1740 and consequently my buy was trigger at 1740 ( at that time i just started to trade forex and i thought it was FXCM mistake, i request FXCM for compensation for 61$ and they do compensated me as GOOD FAITH CREDIT) but right now i realize that it was not FXCM mistake but still they compensated me.
FXCM customer support service is also very good i remember mr. hossein khavari FXCM staff member who spend his one hour telling me how should i trade, use proper leverage etc.
i found FXCM a reliable broker.
  • #3,287
  • Jan 11, 2013 6:27am Jan 11, 2013 6:27am
Still not an issue with any of the above I'm happy to say, many years with NDD and very happy.

Had a batch of SL hunting spikes, but they appear on other charts there brokers hitting popular SL levels and reversing not FXCM playing games.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #3,288
  • Jan 11, 2013 8:22am Jan 11, 2013 8:22am
Quoting Razi89
i 100% agree with jason rogers.yes FXCM is a fair/honest broker.i remember the 14 sept 2012 when fed announce QE and gold prices first drop to 1717 and i place a stop buy order at 1728 but when gold prices travel from 1717 to 1724 then suddenly it jumps to 1740 and consequently my buy was trigger at 1740 ( at that time i just started to trade forex and i thought it was FXCM mistake, i request FXCM for compensation for 61$ and they do compensated me as GOOD FAITH CREDIT) but right now i realize that it was not FXCM mistake but still they compensated...
yea ok "Jason Rogers"..freakin 1 poster comments...
NocturnalFX is no longer offering commercial services
  • #3,289
  • Jan 11, 2013 10:50am Jan 11, 2013 10:50am
Quoting TPOTrader
yea ok "Jason Rogers"..freakin 1 poster comments...
Should I also disregard negative posts from first time posters? My life would be so much easier and our thread so much nicer .

These types of posts are interesting since they show a lack of understanding about forum dynamics. Granted, forums have their fair share of forum trolls, but the majority of a forum community is typically lurking rather than posting. I would suggest you read about the 1% rule. No, it’s not about Occupy Wall Street . It's the concept that only 10% of an internet community actually contributes (makes posts), and only 1% posts regularly, while the remaining 90% simply browses around the forum reading posts. Just look at the number of posts on our thread compared to the number of views. The thread has had 3,287 posts compared to 615,326 views. Divide the posts by views and you get a 0.5% contribution rate. It will obviously differ slightly because one user can make multiple posts, but then again one person can view the thread multiple times.

So to the 90% of you that simply browse the forum thread, I say don't let forum members like TPOTrader (btw congrats on your trading success) discourage you from becoming a contributor and posting on our thread or FF in general. We welcome all traders to post regardless of whether it is your first post or you have 10,000+ posts with 10+ vouches.

Quoting Razi89
i 100% agree with jason rogers.yes FXCM is a fair/honest broker.i remember the 14 sept 2012 when fed announce QE and gold prices first drop to 1717 and i place a stop buy order at 1728 but when gold prices travel from 1717 to 1724 then suddenly it jumps to 1740 and consequently my buy was trigger at 1740 ( at that time i just started to trade forex and i thought it was FXCM mistake, i request FXCM for compensation for 61$ and they do compensated me as GOOD FAITH CREDIT) but right now i realize that it was not FXCM mistake but still they compensated...
Welcome to our thread, Razi, and thank you for being an FXCM client. Congrats on leaving the 90% and joining the 10%

Have a great weekend, everyone!

Jason
  • #3,290
  • Jan 11, 2013 11:03am Jan 11, 2013 11:03am
Quoting Jason Rogers
Should I also disregard negative posts from first time posters? My life would be so much easier and our thread so much nicer .

These types of posts are interesting since they show a lack of understanding about forum dynamics. Granted, forums have their fair share of forum trolls, but the majority of a forum community is typically lurking rather than posting. I would suggest you read about the 1% rule. No, it’s not about Occupy Wall Street . It's the concept...
Hmm! interesting!!
The only way not to think about money is to have a great deal of it
  • #3,291
  • Jan 11, 2013 11:56am Jan 11, 2013 11:56am
Hey Jason

i got another rule for you..it's called the 80/20 rule. FXCM rate on eurusd is 1.5 and above 80% of the time and barely under 1 20% of the time. Is that pretty accurate?


tell me how does FXCM justifies charging 1.5 typical spread on EURUSD?.

From the looks of FXCM FCM data from cftc-you guys are as big as oanda. Why cna't you charge lower spread? no way
NocturnalFX is no longer offering commercial services
  • #3,292
  • Jan 11, 2013 11:57am Jan 11, 2013 11:57am
Hi Jason.

Quick question, does FXCM support ESignal Charting?

Regards,

Pip Singh
  • #3,293
  • Edited 12:43pm Jan 11, 2013 12:31pm | Edited 12:43pm
Quoting Pip Singh
Hi Jason.

Quick question, does FXCM support ESignal Charting?

Regards,

Pip Singh
Hi Pip Singh,

Yes, here are details on eSignal's website on how to set that up: http://www.esignal.com/map/fxcm/download.asp

I also noticed this promotion mentioned on their website, but I would recommend that you check with eSignal on whether it's still available, since the page looks old: http://www.esignal.com/map/fxcm/default.aspx

Welcome to the forum

Jason
  • #3,294
  • Jan 11, 2013 1:00pm Jan 11, 2013 1:00pm
I have been a 'lurker' on this thread.

I have decided to open up a small live account with FXCM after all (small = small amount of money). I feel every broker has his issues. I tried Questrade, I have been with Oanda but none of them have the customer service that FXCM has. And for me that is most important. I can email a person and I can call him and he will help me. Calling a person is better than communicating in a chatroom or with someone in a call center.
Argue for your limitations, and sure enough, they're yours. Richard Bach
  • #3,295
  • Jan 11, 2013 1:23pm Jan 11, 2013 1:23pm
Quoting Jason Rogers
Should I also disregard negative posts from first time posters? My life would be so much easier and our thread so much nicer .

These types of posts are interesting since they show a lack of understanding about forum dynamics. Granted, forums have their fair share of forum trolls, but the majority of a forum community is typically lurking rather than posting. I would suggest you read about the 1% rule. No, it’s not about Occupy Wall Street . It's the concept...

Another rule for you, most people that post negative comments do so cause there losing and it's easier to blame someone else than accept blame.

People!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #3,296
  • Jan 13, 2013 4:12pm Jan 13, 2013 4:12pm
Happy New Year Jason. Could you pass on a note to the programmers to add the shift function to the default TS2 moving averages? It's usually a standard feature on platforms.

Thanks!
Get money, don't let money get you. @kauaiforex
  • #3,297
  • Jan 14, 2013 10:07am Jan 14, 2013 10:07am
Quoting NoJobRob
Happy New Year Jason. Could you pass on a note to the programmers to add the shift function to the default TS2 moving averages? It's usually a standard feature on platforms.

Thanks!
Hi Rob,

Happy New Year

Actually, Trading Station already has this functionality to shift indicators. Below are the steps to use it.

1. Right click on the chart and select Add Indicator.

http://img201.imageshack.us/img201/4...cator2013j.png

2. In the Add Indicator window, choose SHIFT_I (Shift Indicator).

http://imageshack.us/a/img20/4702/fx...catorprope.png

3. In the SHIFT_I properties window, select the indicator you want to shift, such as MVA (Simple Moving Average), and the number of periods you want to shift horizontally and vertically.

Let me know if you have any questions.

Jason
  • #3,298
  • Jan 14, 2013 11:17am Jan 14, 2013 11:17am
Quoting Jason Rogers

I'm not sure what you mean by this. How would we be able to set a pivot level to our benefit? If you feel there is an error in one of our chart indicators, please post some screenshots and we'll look into it.
Hi Jason,

here`s a nice screenshot for you.

It shows the monthly classic pivot points of the USD/JPY pair December 2012 in the Trading Station 2.

What the heck is this??? Pivot Points based on moon phases???

It was a pleasure to work with it, thanks a lot.

One of FXCM`s programmers on fxcodebase.com said he found some "inconsistencies", what a gag.

It is just outrageous to provide clients this terrible market maker issue trading platform.

Good luck and much success with your NDD marketing: "Trading anonymous with low spreads and without requotes"!!!
Attached Image (click to enlarge)
Click to Enlarge Name: USD JPY Monthly Classic Pivot Points Dec 2012.jpg Size: 73 KB
It ain`t no big thing, but it`s growing.
  • #3,299
  • Jan 15, 2013 9:17pm Jan 15, 2013 9:17pm
Quoting mctrade
Hi Jason,

here`s a nice screenshot for you.

It shows the monthly classic pivot points of the USD/JPY pair December 2012 in the Trading Station 2.

What the heck is this??? Pivot Points based on moon phases???

It was a pleasure to work with it, thanks a lot.

One of FXCM`s programmers on fxcodebase.com said he found some "inconsistencies", what a gag.

It is just outrageous to provide clients this terrible market maker issue trading platform.

[b]Good luck and much success with your NDD marketing: "Trading anonymous with low spreads...
Hi McTrade,

Thanks for providing that screenshot. I plotted the pivot points on my own Trading Station platform, and I think I know what happened with your charts. The pivot lines you saw were actually for the previous month, but somehow they were shifted one month to the right. You can see the correct pivot levels for November, December and January on my charts below.

http://img32.imageshack.us/img32/203...ts2013janu.png


Notice how your pivot levels correspond to my pivot levels for November. Something might have been changed in the settings of your charts. Try going to File > Options, then hit the Reset to Defaults button. Also, go to File > Default Layout on your chart window. If that does not correct the error, try uninstalling and then reinstalling the Trading Station.

Jason
  • #3,300
  • Jan 15, 2013 11:31pm Jan 15, 2013 11:31pm
hey jason..... i searched this thread for 'etrade' and found only 2 references..... here is your reply..... so if for some reason you can not answer my question reguading etradefx, i'll clearly understand....... also searched the net...... from babypips forum.....

i have an account with etradefx which is being held by fxcm or at least that is my understanding...... so in a sense i have a live account with fxcm..... my goal is to have access to dailyfx plus...... according to the login page, it requires any live fxcm account.....

does my etradefx ~ fxcm account qualify for access..... and if so, would my username and password be my etradefx login info...... my regular dailyfx site username and password will not work.....

and again, if for some reason you can not answer, i clearly understand......thanks......h
to trade and code, keep both simple... no call to impress....h
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