XEM platfroms and TI serve slightly different purposes and when it comes to trading, I would not call our platforms for mobile devices simple. All of our platforms have all the necessary features and tools for trading on iOS and Android-powered devices. http://50.22.104.143/~forum/images/b...-highlight.gif
I am not aware of any plans to start offering the TI. However, there are some other updates coming and these new products will significantly enhance the trading experience of our clients.
Best regards,
Andrey...
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Have you tried the MT4 app for Android? If im not mistaken it actually has more features, not 100% sure tho.
If you aim for the stars- but miss, you still get the moon...
Yes, I use the demo account on Android everyday (when I'm not on the computer). But in fact it lacks very stuff that TI has like drawing trend lines, fibs, changing the colors of the charts, the colors of the indicators, and so on.. It has the basis to rapidly entry and exit orders, but it would be also nice to have features to analyze the charts like we do on the desktop MT4..
One of my clients forwarded this message to me earlier this morning:
Quote
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Dear Valued Client,
In a continuing effort to maximize the speed of execution of our platforms, during the market close on the weekend of the 23rd and 24th of February we will be optimizing our trading servers.
During this optimization changes will be made which will archive general trading history before 1/9/2012 and EA trading history before 1/1/2013 to our backup servers. This effort is part of our continuing effort to maintain our live trading servers at maximum capabilities to execute client orders at optimal speed.
Archived Trading...
i did not get this email, but I did confirm that the rule is being put in place. I do have a few questions/concerns.
1) 200 order limit. Is this per mt4 account or per client?
2) Can people with existing accounts be grandfathered for a longer period? I'm thinking until the end of the month, or at least until I just found out about this a few hours ago. I'm sure existing clients may very well have hundreds of trades opened. Previously I was told several times that there was no restrictions on the amount of open orders. And I implemented strategies based on these rules.
I do understand that a limit is necessary to protect server overload, but for swing traders and carry/position traders, this is a very drastic request with only 2 days notice to make these adjustments.
3) Can you consider a higher limit? Like 500 or 1000. It is difficult to position size with 200 orders, especially if you trade multiple products and also especially for grid trading.
4) Are you sure that you sent this email to all of your clients? I didn't get it. This was forwarded from another client.
5) will the history that is archived still be available on the platform for statistical purposes? Social sites like MyFxBook track can pull stats, but they will be incomplete if history can only be shown as after Jan 2013. If my assumption is correct, how does the trader handle work around this?
6) Any other changes like this, will they also be immediate, or will clients have time to adjust their strategies? 200 order limit is very sudden, and if it changes next month or two to something less, I don't know if I could stay with XeM.
I appreciate your response as well as feedback from other traders on how to best navigate this.
One of my clients forwarded this message to me earlier this morning:
i did not get this email, but I did confirm that the rule is being put in place. I do have a few questions/concerns.
1) 200 order limit. Is this per mt4 account or per client?
2) Can people with existing accounts be grandfathered for a longer period? I'm thinking until the end of the month, or at least until I just found out about this a few hours ago. I'm sure existing clients may very well have hundreds of trades opened. Previously I was told several times that...
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Dear ybfjax,
1) This limit is per client and includes all open positions and pending orders.
2) You are correct, previously we did not have this restriction. However, the load on our servers is increasing and in order to continue providing fast execution for all our clients this limit had to be imposed. This rule will be start being enforced starting from the next week for those clients who have more than 500 open orders and starting from the next month all clients should reduce their open trades to 200 or less.
3) I understand what you are saying but I've been told that for now the limit will stay at 200 orders.
4) The notification was send to clients whose number of open orders was substantially higher than the limit several weeks ago. All other clients were notified this week via email and MT4's internal email system. If you did not receive this email, it might be possible than our emails are getting filtered or your email that we have on file is not the one you are using on the daily basis.
5) The archived history will not be available in the MT4, instead you will see a single entry with the number of the archived orders. However, you will be able to request a detailed statement that will include all archived transactions. I believe you can import MT4 statements to Myfxbook's system.
6) There are no any limitations planned with regard to trading. Moreover, we are planning to expand our product range in the upcoming months.
I hope you will able to modify your trading system and continue trading with XEMarkets. Also, I would like to thank you for your continuous feedback.
Yes, I use the demo account on Android everyday (when I'm not on the computer). But in fact it lacks very stuff that TI has like drawing trend lines, fibs, changing the colors of the charts, the colors of the indicators, and so on.. It has the basis to rapidly entry and exit orders, but it would be also nice to have features to analyze the charts like we do on the desktop MT4..http://50.22.104.143/~forum/images/b...-highlight.gif
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Ahem the mobile version still features moving average and indicators such as MACD and ADX... im not sure if something is really missing...
If you aim for the stars- but miss, you still get the moon...
1) This limit is per client and includes all open positions and pending orders.
2) You are correct, previously we did not have this restriction. However, the load on our servers is increasing and in order to continue providing fast execution for all our clients this limit had to be imposed. This rule will be start being enforced starting from the next week for those clients who have more than 500 open orders and starting from the next month all clients should reduce their open trades to 200 or less.
.......
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It looks like the 200 order limit is per account, which is much more reasonable. Can you confirm this?
Could XeMarkets please post how the recent Cyprus bank bailout has affected XeM operations. I saw that clients funds use Barclays Bank, but what about local operations? Is there a local Barclays branch in Cyprus? How has that been effected?
Have not received an email update on such breaking news, so i figured those in the forums may have some more insight. I'm not panicking yet, but one of my associates insisted on wanting to use an Australian broker because of this. This obviously isn't XeM's fault directly, but you can see how the news can have a real effect on people's fears.
One of an other forum member got this message from Xemarkets contact person:
"Safety of Client Funds
At XEMarkets our client funds are our top priority. We partner with investment grade bank Barclays Bank Plc. of the UK to ensure 100% security.”
Constantinos Cleanthous, Chief Executive Officer
In the financial industry, the most essential requirement is the safety of clients’ funds. This is the reason why XEMarkets follows strict rules to safeguard clients’ interests:
Banking with Investment Grade Bank, Barclays Bank Plc. United Kingdom.
100% Security and Guarantee of Funds.
Keeps clients’ funds segregated from our company funds, in tier 1 banking institutions and ensures that these cannot be used either by us or by our liquidity providers under any circumstances;
Keeps clients’ funds in highly secure global banks with lowest credit risk;
Ensures high operation standards by submitting regular financial reports to CySEC and to the company’s financial auditor, KPMG;
Provides retail clients with additional protection through the Investor Compensation Fund in the case of company insolvency;
Uses an automated system for monitoring funds transactions and risk management for the sake of no negative balance, and thus protects clients from any losses bigger than their original investments;
Applies multiple transaction methods for funds withdrawals and deposits that guarantee transfer security and clients’ privacy through Secure Socket Layer (SSL) technology.
Regulation
[...]"
Could XeMarkets please post how the recent Cyprus bank bailout has affected XeM operations. I saw that clients funds use Barclays Bank, but what about local operations? Is there a local Barclays branch in Cyprus? How has that been effected?
Have not received an email update on such breaking news, so i figured those in the forums may have some more insight. I'm not panicking yet, but one of my associates insisted on wanting to use an Australian broker because of this. This obviously isn't XeM's fault directly, but you can see how the news...
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Dear ybfjax,
These recent developments have not affected our operations or our clients. Please note that clients' funds are held in Barclays Bank Plc. United Kingdom.
These recent developments have not affected our operations or our clients. Please note that clients' funds are held in Barclays Bank Plc. United Kingdom.
Best regards,
Andrey
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Could you please clarify if your funds are held at the Cypriot branch of Barclays UK?
Letter from Barclays:
“Dear Mr ****
Thank you for contacting Barclays regarding the situation in Cyprus.
All deposits subject to Cypriot banking rules, whether held at a local Cypriot bank or a Cypriot branch of a foreign bank are at this stage included in the proposed legislation.
We have been instructed by the Governor of the Central Bank of Cyprus to temporarily freeze all payments and transfers in Cyprus. To that end, we have temporarily frozen all bank accounts in Cyprus. This will be the case until we receive further details.
The situation is still unfolding, but we are working very closely with the necessary authorities to provide you with further clarity.
I trust I have answered all of your queries and hope you have a good day.
^^ I concur. And this cannot be brushed to the side casually. The bank run panic and subsequent negative reputation of Cypriot regulation is real, even if the bailout ends up not applying the tax to cypriot bank deposits.
Does XeM have an alternative jurisdiction in place if it comes down to having to leave Cyprus?
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Joined Nov 2006
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Status: Go With The Randomness Of Price
|320 Posts
ybfjax,
I've come to notice that when hard questions were posted , XeMarkets did not respond or trying to skip them like your posts #340 & #355(coming to 24 hrs).
XeMarkets,
Kindly correct me if I'm wrong that you did reply to ybfjax's posts or if not, I think that FF members and your clients got the right to get a clear and accurate reply .
In regards to you questions about Barcalys Plc, we officially confirm that the legal entity we cooperate with is Barclays Bank Plc, which is based in the UK.
The above mentioned bank is a highly rated bank by all major credit agencies including Moodys, Standard and Poors and Fitch as presented in the official ratings report hosted at http://group.barclays.com/about-barc...urrent-ratings.
With regards to jurisdictions;
XEMarkets has a well defined strategy with regards to its expansion and business operations in products and services. Under this context all our counterparties are Internationally acknowledged financial institutions which include amongst others; banks, liquidity providers, technology providers and payment institutions.
Effectively a well planned global financial services companys operations cannot be disturbed by any development within any single jurisdiction.
At our choice we can at any point in time activate licenses in any other jurisdiction if regarded essential for our business.
Most importantly the location selected by any company to maintain headquarters does not in anyway affect any company which cooperates with internationally acknowledged counterparties.
I hope I have answered your questions and have explained this thoroughly.
In regards to you questions about Barcalys Plc, we officially confirm that the legal entity we cooperate with is Barclays Bank Plc, which is based in the UK.
The above mentioned bank is a highly rated bank by all major credit agencies including Moodys, Standard and Poors and Fitch as presented in the official ratings report hosted at http://group.barclays.com/about-barc...urrent-ratings.
With regards to jurisdictions;
XEMarkets has a...
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Andrey,
Thank you for the above clarification. I understand that Barclay is not affected by what is going on in Cyprus . I'm interested to know what is XeM position with regards to trading,deposit funds & withdrawals matters. Is it business as usual?
As mentioned above; “Any well planned global financial services companys operations cannot be disturbed by any development within any single jurisdiction.“
As mentioned above; “Any well planned global financial services companys operations cannot be disturbed by any development within any single jurisdiction.“
Thank you,
Andrey
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Andrey,
I prefer a straight forward answer to my question of whether trading, deposits & withdrawals are affected .
