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  • #3,661
  • Edited 5:23pm May 28, 2013 5:12pm | Edited 5:23pm
When I opened account I indicated that I had 5 years experience. They had appointed individual manager for me, first I told them I am opening with 50K but then only funded 40K but it didn't change anything. I still have exclusively low spreads, I did few trades with slippage and they added few dollars of positive slippage to my account later.

So I am surprised because of the comments here. Just few days ago I went to Sushi restaurant downtown manhattan and respectable 5 or 6 wall street bankers ( I recognized them with their looks and suits) were talking on something which I couldn't figure out then I heard one of them mentioned FXCM and all of them laughed as if they were making fun of the broker.

In comparison with forex.com I am definitely satisfied so far with FXCM. They even allowed me to withdraw money on different accounts (they promised, I didn't do any withdrawals yet).

So let's see, it is too early to judge them, but I hope I did correct choice.

Also their programming dep is helping me in my EA to make it accurate and reliable. So overall I can only write positive review on them
kiss the trend
  • #3,662
  • May 28, 2013 5:17pm May 28, 2013 5:17pm
Quoting MrJoon
FXCM recently reduced their time frames of their charts so that we can only see around 3-4 years maximum of historical data. You have to either deposit $5000 into your account even though you have already deposited that amount it the past or pay around 500$ for this data service. Has been quite a disappointing experience.
Hi MrJoon,

I apologize for the inconvenience. We temporarily had to remove some historical data from our charts for technical reasons, but we are looking to add that data back. While I don't have an exact date for you, I'll post an update on this forum thread when it's been done.

In regards to the Historical Data Downloader (HDD), you are correct that you can purchase this program for $499 at FXCMapps.com or get it for free by depositing $5000 in your trading account. However, that app is not related to why there is currently less historical data on Trading Station. That is a temporary technical issue that is being addressed, while HDD is designed to offer traders access to historical data for multiple time frames well beyond what will be available on Trading Station even after we've added the previous data back.

Welcome to the forum

Jason
  • #3,663
  • May 28, 2013 5:58pm May 28, 2013 5:58pm
Quoting Greenhaze
{quote} Hi Jason, Thanks for your reply. I still cant find CFD contracts on the list. I'm living in Sweden and i've oepned account thru GFT UK website. http://screencast.com/t/DxDUEcKhSJK
Hi Greenhaze,

From the screenshot you posted, I can tell that your account is set up under FXCM US, and not FXCM UK. That is why you can only see currency pairs in your Symbol Subscription List, and not CFDs. Since you live in Sweden, you can complete this form to transfer your account from FXCM US to FXCM UK and get access to CFD trading. As with any form of speculative trading, when trading forex or CFDs, your capital is at risk.

Jason
  • #3,664
  • May 28, 2013 6:33pm May 28, 2013 6:33pm
Quoting CurrencyAnalyst
FXCM processes account application issues verification successful then... Rejects account with absolutely no logical reason! In ten years of trading I have never had a broker reject an account. I have current active accounts with TD Ameritrade and Oanda multiple years standing. my hunch is they just don't want experienced successful traders! {image}
I can't comment on the specific reasons why your application was rejected, but I want to state for everyone on this forum that FXCM would never reject an application because someone is an experienced successful trader. On our No Dealing Desk forex execution model, we make money off of client trading volume, not client losses. We want experienced successful traders as clients, because of the trading volume they do, and even offer them additional benefits through our Active Trader program.

Quoting CurrencyAnalyst
in Orlando, where the Big-Time Law Firm Morgan & Morgan are that won the class action lawsuit
What you have said here is false. That case was dismissed as of November 29, 2011.
  • #3,665
  • May 28, 2013 7:03pm May 28, 2013 7:03pm
Quoting zelenko
so what is the tricks that market makers are doing to steal my money (( for this point i hope other member to share their experience ))
Hi Zelenko,

A market maker is a broker that operates its own dealing desk. The Dealing Desk actively takes a position in the market, which exposes the firm to market risk. When you are long, the Dealing Desk may be short. When you are short, the Dealing Desk may be long. So your losses can equate to the Dealing Desk's profit. Alternatively, your profits can equate to the Dealing Desk's loss. Certain strategies expose Dealing Desks to more risk, such as automated strategies or strategies that trade at a high frequency. To better manage their market risk, some Dealing Desk firms actively intervene in their clients' trading by re-quoting orders, delaying execution, skewing prices, or widening spreads.

At FXCM we offer both Dealing Desk and No Dealing Desk (NDD) forex execution. If you are trading on Dealing Desk execution and your trading style exposes us to more risk than we're comfortable with, FXCM may, at our sole discretion and at any time, change your execution type to NDD. This is how FXCM can comfortably offer both options without having to resort to some of the common "dealer intervention" practices listed above which take place at many forex brokers.

http://img19.imageshack.us/img19/681...ecutiontyp.png

click to enlarge


While FXCM believes that NDD execution provides the best all-around trading experience, we also offer dealing desk execution as an option for traders whose primary concern is low spreads. Because we can create the prices on which you trade, FXCM's dealing desk execution option is able to offer spreads for FXCM's 12 most popular currency pairs that may be up to one pip lower than those provided by the NDD model.

http://imageshack.us/a/img705/3184/fxcmspreadsmay10.png


There are no restrictions on the trading strategy that you use on the NDD execution model, however the tighter spreads available on FXCM's Dealing Desk offering would no longer be available to you. We encourage traders who use automated, high-frequency or scalping strategies to open an NDD account, which is compatible with all trading strategies.

Your forum profile mentions that you live in Egypt. I would be happy to arrange a follow up call for you with my colleague who is from Egypt. If you would like to receive a call from him, please send me a private message with your name, phone number and the best time to call you.

Jason
  • #3,666
  • May 28, 2013 7:12pm May 28, 2013 7:12pm
Quoting qp2
Hi Jason,It is now sorted many thanks. Allan.
Hi Allan,

Glad to hear you were able to get this sorted

Jason
  • #3,667
  • May 28, 2013 9:03pm May 28, 2013 9:03pm
Quoting Jason Rogers
{quote} Hi Slovforex, While clients of Friedberg Direct (www.fxcm.ca) can open live MT4 accounts in Canada, we currently don't have MT4 demo accounts that reflect the special margin requirements in Canada. You can download the MT4 platform from this page on the Friedberg Direct website, but the demo you register will reflect the margin requirements in either the US, the UK or Australia, depending on what account type you select for the demo. To see the margin special margin requirements in Canada, you...
Hi Jason,

I live in Canada So, I am required to trade with IIROC-regulated firm.
I do not know why forexfactory always changes the country in my profile. I was supposed to be from Poland then from Slovakia in the past, now I am supposed to be from Finland.:nerd:
  • #3,668
  • Edited 10:24pm May 28, 2013 10:22pm | Edited 10:24pm
JASON ROGERS {quote} What you have said here is false. That case was dismissed as of November 29, 2011.[/quote]My mistake let me be more accurate Fxcm offered settlement to affected traders and paid NFA with $ 2 million dollar fine.

http://www.nfa.futures.org/basicnet/...16&contrib=NFA
"Look Left Think Right"
  • #3,669
  • May 29, 2013 1:05am May 29, 2013 1:05am
Quoting slovforex
{quote} Hi Jason, I live in Canada So, I am required to trade with IIROC-regulated firm. I do not know why forexfactory always changes the country in my profile. I was supposed to be from Poland then from Slovakia in the past, now I am supposed to be from Finland.:nerd:

Your profile is from finland, nothing wrong... Where you in canada?
  • #3,670
  • May 29, 2013 1:06am May 29, 2013 1:06am
Quoting CurrencyAnalyst
JASON ROGERS {quote} What you have said here is false. That case was dismissed as of November 29, 2011.
My mistake let me be more accurate Fxcm offered settlement to affected traders and paid NFA with $ 2 million dollar fine. http://www.nfa.futures.org/basicnet/...16&contrib=NFA[/quote]It is a fxcm lose, trying to close the case asap. That's why fxcm paid out certain amount to reduce damage.
  • #3,671
  • May 29, 2013 3:45am May 29, 2013 3:45am
Quoting Jason Rogers
{quote} Hi Zelenko, A market maker is a broker that operates its own dealing desk. The Dealing Desk actively takes a position in the market, which exposes the firm to market risk. When you are long, the Dealing Desk may be short. When you are short, the Dealing Desk may be long. So your losses can equate to the Dealing Desk's profit. Alternatively, your profits can equate to the Dealing Desk's loss. Certain strategies expose Dealing Desks to more risk, such as automated strategies or strategies that trade at a high frequency. To better manage their...

thank you jason for your replay

but you didn't give me a clear direct answers to my questions

and i am posting again the most important questions
**************


3- they cancel you account and take all you money

let's say you open an account with 10,000 dollars and after a year of successful work it reach 100,000 then at a morning you wake up go to your lap top and opening your platform and you find out that it said (( invalid account )) you try many time and it didn't work so you talk to the support and you find them saying to you that this account was closed from 2 months because of margin call >>>>>>>>>> at this moment you will sure go crazy and when you told the support that this is wrong and that you have opened a trade yesterday and close it also>>> they will give you a fake report prove that they are right and all what you said is just an imagination

for this method how can i prove i am right ??????? i didn't find an answer yet

4- they open a risky trade for you to destroy the acount or close a profitable trade to not let you earn more

let's say you open an account with 10,000 dollars and after a year of successful work it reach 100,000 then at a morning you wake up go to your lap top and opening your platform and you find out that the balance is not 100,000 as you left it yesterday but it was 5000 you go crazy and talk to the support and they say that you have opened 2 trades yesterday with very big lots and one of them lost 50,000 and the other lost 45,000 you go to your platform and see the history of your trades and you really find this 2 trades and then you go crazier and you swear for thousands of times that you didn't open this trades and sure they will not believe you and they will say that every thing as recorded and documented and maybe they say to you that may be one of internet hackers has hacked you computer and he destroy your account and this is your fault because you didn't protect you computer against hackers

for this method how can i prove i am right ??????? i didn't find an answer yet


*******************************

can you till me mr jason if one of this tow cases happen with me how can i prove my rights ???????????????????????????????????????????

i send you my mobile no in a massage as you ask
  • #3,672
  • May 29, 2013 11:02am May 29, 2013 11:02am
Quoting slovforex
{quote} Hi Jason, I live in Canada So, I am required to trade with IIROC-regulated firm. I do not know why forexfactory always changes the country in my profile. I was supposed to be from Poland then from Slovakia in the past, now I am supposed to be from Finland.:nerd:
You're just a man of the world, Slov
  • #3,673
  • May 29, 2013 11:14am May 29, 2013 11:14am
Quoting CurrencyAnalyst
My mistake let me be more accurate Fxcm offered settlement to affected traders and paid NFA with $ 2 million dollar fine.
Quoting MoreYummy
It is a fxcm lose, trying to close the case asap. That's why fxcm paid out certain amount to reduce damage.
The case that was dismissed was unrelated to the NFA action which concerned positive slippage not being passed on in full when transactions were offset with liquidity providers. I posted a detailed explanation about that here: http://www.forexfactory.com/showthre...83#post4867883
  • #3,674
  • May 29, 2013 11:35am May 29, 2013 11:35am
Quoting zelenko
{quote} thank you jason for your replay but you didn't give me a clear direct answers to my questions and i am posting again the most important questions ************** 3- they cancel you account and take all you money let's say you open an account with 10,000 dollars and after a year of successful work it reach 100,000 then at a morning you wake up go to your lap top and opening your platform and you find out that it said (( invalid account )) you try many time and it didn't work so you talk to the support and you find them saying to you that this...
Hi Zelenko,

I apologize, because I must have misunderstood your questions. I thought you wanted to know how FXCM can address your concerns about trading with a market maker. Brokers that are market makers operate their own dealing desk to manage the market risk they take on in offsetting client orders. When you are long, the dealing desk may be short. When you are short, the dealing desk may be long. So your losses can equate to the dealing desk's profit. Alternatively, your profits can equate to the dealing desk's loss. That is why I told you about FXCM's No Dealing Desk (NDD) forex execution as an alternative for you to the traditional dealing desk execution model used by market makers.

On our NDD model, FXCM does not take a market position, eliminating a major conflict of interest. Dealing Desk brokers may actively trade against your positions. They can profit when you lose. Alternatively, they may lose when you profit. Because of this, Dealing Desk brokers are incentivized to manipulate your orders. They may for example place restrictions on stops and limits or re-quote your orders. FXCM's NDD execution model does none of this. Your orders automatically fill from the NDD price feed, which is the best available bid and best ask prices from all of our liquidity providers plus FXCM's mark-up. Additionally, your orders are anonymous to the liquidity providers. They cannot see your stops, limits, or entry orders; they only see market orders coming from FXCM.

Now that you have highlighted your most pressing questions, it seems that you are asking for guidance on what steps you can take if a market maker has wronged you. If you are unhappy with the resolution the market maker has given you, then you can reach out to the government regulator that oversees your broker. That is why it's important to trade with a regulated broker. FXCM not only offers traders an alternative to market makers with our No Dealing Desk (NDD) forex execution, but we are also regulated in major financial centers worldwide including the US, the UK, Australia and Hong Kong.

Jason
  • #3,675
  • May 29, 2013 1:18pm May 29, 2013 1:18pm
Well enough lets not continue chomping at the bit over anything I have brought up here. I shall consider it divine intervention that I did not get an account with fxcm.

If anything I have learned is not to push things that have obvious road blocks.

I had only been bedazzled by the mobile platform they offer.

I shall stay with Futures trading where brokers have nothing to do with exchange controlled contracts other than provide gateway to market. I have done well trading futures without any of the well described platform oddities many speak of as they become profitable trading OTC spot currencies. I can say that oanda been about the best trade saddle I have used for Spot. Years ago they did have quite a few platform problems mostly attributed to Java scripting. I have not seen that for some time now.

Also I shall note that after 5 years of private mentoring and getting response back from former students mixed both good and bad regarding their experience with such -N- such brokers. I have concluded that if in fact the retail access SPot FX game is rigged at the broker level regardless of STP, ECN DD or NO-DD a certain percentage of accounts are purposely unaffected as a way to mask the insider contamination. This is possibly why many experienced traders (not the new ones that have not established any consistent profitability) have posted so many hair pulling complaint stories across all the FX forums over the past decade.
"Look Left Think Right"
  • #3,676
  • Jun 2, 2013 5:19pm Jun 2, 2013 5:19pm
Hi Jason,

I wonder if You could help me with something ?

You can see one of my threads here: http://www.forexfactory.com/showthread.php?t=427671 which includes some charts with wave labels. I have noted that over time the labels no longer correspond with the relevant candle positioning which then requires that each label and chart is re-adjusted.

( I can post a new chart showing how they have shifted to date if You wish )

Is there something that I can do to stop this phenomena ?

Thank You in advance,


David
  • #3,677
  • Jun 3, 2013 5:03am Jun 3, 2013 5:03am
Hi David,

Could you please send me the screenshot which illustrates the shift. I tried but I didn't manage to replicate the described bug.
  • #3,678
  • Jun 3, 2013 8:04am Jun 3, 2013 8:04am
Quoting Valeria P
Hi David, Could you please send me the screenshot which illustrates the shift. I tried but I didn't manage to replicate the described bug.

These are week charts so the shifts appear more subtle than the smaller time charts.

Here is the file as requested.
Attached Image (click to enlarge)
Click to Enlarge Name: v v.JPG Size: 184 KB
  • #3,679
  • Jun 3, 2013 12:44pm Jun 3, 2013 12:44pm
Quoting Forex Magic
Hi Jason, I wonder if You could help me with something ? You can see one of my threads here: http://www.forexfactory.com/showthread.php?t=427671 which includes some charts with wave labels. I have noted that over time the labels no longer correspond with the relevant candle positioning which then requires that each label and chart is re-adjusted. ( I can post a new chart showing how they have shifted to date if You wish ) Is there something that I can do to stop this phenomena ? Thank You in advance, David
Quoting Forex Magic
{quote} These are week charts so the shifts appear more subtle than the smaller time charts. Here is the file as requested. {image}
Hi Forex Magic,

Like Valeria, I wasn't able to replicate this shift you describe. Does it become more pronounced over time? If so, can you post a screenshot? I can ask our developers to investigate what's causing it.

Thanks,
Jason
  • #3,680
  • Jun 3, 2013 1:19pm Jun 3, 2013 1:19pm
Quoting Jason Rogers
{quote} {quote} Hi Forex Magic, Like Valeria, I wasn't able to replicate this shift you describe. Does it become more pronounced over time? If so, can you post a screenshot? I can ask our developers to investigate what's causing it. Thanks, Jason
Hi Jason,

The screenshot is below, and the originals are per the link in my initial post..

Yes they move over time.
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