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FXCM Discussion

  • #3,781
  • Jun 19, 2013 3:06am Jun 19, 2013 3:06am
hello Jason
I have just login into trading station 2 , but the chart is not working . when will you fix it .
  • #3,782
  • Jun 19, 2013 3:07am Jun 19, 2013 3:07am
Quoting m00ds
Me too. I can't login into trading station. It was fine an hour ago.
I can login... for now. Hope they get this fixed.
  • #3,783
  • Edited 3:37am Jun 19, 2013 3:12am | Edited 3:37am
Quoting m00ds
{quote} I can login... for now. Hope they get this fixed.
Dear m00ds
my charts aren't working , ( failed to load the chart )
are the charts working with you ?
  • #3,784
  • Jun 19, 2013 3:12am Jun 19, 2013 3:12am
Same here ... just tried to login & it worked. Thanks to you guys for the heads up
Thank You
  • #3,785
  • Jun 19, 2013 3:39am Jun 19, 2013 3:39am
Hi I am from bangladesh. Forex is getting popular over here. I want to open an account with fxcm.what are the deposit and wthdrawl method?
  • #3,786
  • Jun 19, 2013 10:06am Jun 19, 2013 10:06am
Quoting gnomoneey
{quote} Jason , cant login to trading station now on real account same with iphone app reached max 160 clients help
Quoting wormboy
Hello Jason How much longer will the server be down? I still cannot log into the trade station & myfxcm website. Thanks
Quoting m00ds
Me too. I can't login into trading station. It was fine an hour ago.
Quoting @999
hello Jason I have just login into trading station 2 , but the chart is not working . when will you fix it .
Hi Everyone,

I've checked with our tech support team, and the connection issues you experienced earlier should now be resolved. If any of your trades were negatively impacted, you can log a case with the Trade Audit Committee using one of the online forms below. Please include details such as the price you wanted to exit your trade, and in the Amount Disputed field, put the amount of money lost due to the tech issue.

  1. FXCM LLC (US) Trade Audit Form
  2. FXCM LTD (UK) Trade Audit Form

I apologize for the inconvenience this has caused you.

Jason

  • #3,787
  • Jun 19, 2013 10:30am Jun 19, 2013 10:30am
Quoting Smokeymar
{quote} Thanks Jason. One more question. I'm using the demo and it looks like FXCM really only offers 45:1 leverage on EUR/USD. Can you explain why? I need 3k balance per 100k lot, but 50:1 is actually 2,680 account balance per 100k lot. FXCM really shouldn't advertise 50:1 when you really only offer 45:1. It's problem.
Hi Smokeymar,

CFTC regulations prohibit us from ever offering more than 50:1 leverage to US clients. For currency pairs where the base currency is USD (such as USD/JPY, USD/CHF and USD/CAD), it is easy for us to set a fixed margin amount in US dollar denominated accounts that provides exactly 50:1 leverage. For example to control 100k USD/JPY, a US trader must set aside exactly 2k as used margin.

For currency pairs where the base currency is not USD (such as EUR/USD, GBP/USD and GBP/JPY), we still want to be able to tell our clients a fixed amount in US dollar terms that they must set aside as used margin, so they can manage their risk accordingly. Since the base currency is not USD though, we have to provide a certain amount of buffer to the margin amount, so that even with fluctuations in the exchange rate, the margin amount in US dollar terms still remains in compliance with CFTC regulations.

In the Margin FAQ section of our website, we state that "FXCM LLC offers a maximum of approximately 50:1 leverage on its forex trading accounts". Keep in mind that this is the maximum leverage. The actual leverage you use is based on the ratio between the size of the trades you are controlling and the equity in your account. For example, if you have a total of 100k USD/JPY is open positions and have 10k in your account as equity, then your effective leverage is 10:1.

Jason
  • #3,788
  • Jun 19, 2013 10:43am Jun 19, 2013 10:43am
Quoting Jason Rogers
{quote} Hi Smokeymar, CFTC regulations prohibit us from ever offering more than 50:1 leverage to US clients. For currency pairs where the base currency is USD (such as USD/JPY, USD/CHF and USD/CAD), it is easy for us to set a fixed margin amount in US dollar denominated accounts that provides exactly 50:1 leverage. For example to control 100k USD/JPY, a US trader must set aside exactly 2k as used margin. For currency pairs where the base currency is not USD (such as EUR/USD, GBP/USD and GBP/JPY), we still want to be able to tell our clients a fixed...
I would think FXCM is still in compliance. It's 50:1 at the time of the trade and the trader would be on call at the end of the day. Just like any other situation. It doesn't make sense to me. The other brokers don't do it that way. I want to use FXCM as my broker of choice, but I need that extra 5:1 on EUR/USD.
  • #3,789
  • Jun 19, 2013 12:00pm Jun 19, 2013 12:00pm
Quoting Smokeymar
{quote} I would think FXCM is still in compliance. It's 50:1 at the time of the trade and the trader would be on call at the end of the day. Just like any other situation. It doesn't make sense to me. The other brokers don't do it that way. I want to use FXCM as my broker of choice, but I need that extra 5:1 on EUR/USD.
Hi Smokeymar,

FXCM has a No Debit Balance Policy which means that our clients are only ever risking the money in their trading account. Our clients would never owe money for a debit balance that resulted from trading losses. In order maintain this policy, open positions are marked to market in real time, instead of at the end of the trading day. That way open positions get closed automatically to prevent further losses the moment an account falls below the margin requirement to maintain those positions. That means accounts aren't allowed to exceed 50:1 leverage even momentarily.

When you have a USD-denominated trading account, and the base currency of the pair you are trading is also USD, then it's possible to set a fixed margin requirement in USD that offers exactly 50:1. However, if you have a USD-denominated account, the only way to offer exactly 50:1 leverage on a pair where the base currency is not USD, is to have a floating margin requirement. That is something we do not do, because it would put our clients in a situation where their margin requirement in USD terms could increase while they are still in a trade. Instead we set a fixed margin requirement that has a buffer to account for possible fluctuations in the exchange rate between USD and the based currency of the pair being traded. That way our clients can know the margin requirement up front before getting into the trade.

I would like to help you with your request, but it would help if I can understand better what you're trying to do. Could you give me an example of a trade you would like to place that won't work on our margin settings?

Thanks,
Jason
  • #3,790
  • Jun 19, 2013 12:09pm Jun 19, 2013 12:09pm
Quoting Jason Rogers
{quote} Hi Smokeymar, FXCM has a No Debit Balance Policy which means that our clients are only ever risking the money in their trading account. Our clients would never owe money for a debit balance that resulted from trading losses. In order maintain this policy, open positions are marked to market in real time, instead of at the end of the trading day. That way open positions get closed automatically to prevent further losses the moment an account falls below the margin requirement to maintain those positions. That means accounts aren't allowed...
I will PM you.
  • #3,791
  • Edited 4:05pm Jun 19, 2013 1:26pm | Edited 4:05pm
New trading contest for FXCM clients

Quoting m12345
Hi Jason, Is Trader king of the mini trading contest ever coming back? If so do you know when or any info?
Hi m12345,

You asked me earlier about FXCM's plans for a trading contest to replace King of the Micro. I'm happy to announce the launch of a new contest for FXCM clients hosted by our partner, Toptradr.

Each week, the ten FXCM clients at the top of the contest leaderboard will be awarded prizes from a $7500 prize fund. That's $30,000 in prize money each month and $360,000 each year that FXCM clients will win.

You can begin competing for weekly prizes today. The first prizes will be awarded the week of July 22nd, then each subsequent week thereafter. To join the contest, download the Toptradr contest app for Android or iPhone, and "link" your FXCM live trading account.

Toptradr isn't your typical trading contest. You don't get rewarded for getting lucky or earning massive returns on a few highly leveraged trades. You are rewarded for being a good, consistent trader. To win this contest you have to be able to place low-risk/high-reward trades regularly, and you need to be able to consistently grow the equity in your account.

The contest is structured this way because Toptradr (the company) is looking for FXCM clients to back with their own money. The ultimate goal of this contest is to determine who deserves the right to be called the "Top Tradr" and manage the equivalent of a $1,000,000 fund ("Main Contest Prize").

The Main Contest Prize is awarded at the conclusion of a 6-month trading period, which begins once 5,000 FXCM clients have joined Toptradr and "link" their live trading accounts. Toptradr will make an official announcement at that time.

http://imageshack.us/a/img89/4039/lzw4.jpg


Download the Toptradr contest app for Android or iPhone, and "link" your FXCM live trading account to join the contest. You can then use the app to keep track of the contest and your position on the leaderboard.

Let me know if you have any questions.

Jason
  • #3,792
  • Jun 19, 2013 4:11pm Jun 19, 2013 4:11pm
My open positions were closed by somebody at FXCM?
I would like to ask if any of you have your positions closed by somebody FXCM? The last few days I have 3 open positions, which were closed by somebody at FXCM. So instead of profit, they turned to loss. I wonder if FXCM are starting play dirty treat on me. I would like to know if any of you have similar problems.
Thanks
  • #3,793
  • Jun 19, 2013 8:26pm Jun 19, 2013 8:26pm
Quoting singularity
My open positions were closed by somebody at FXCM? I would like to ask if any of you have your positions closed by somebody FXCM? The last few days I have 3 open positions, which were closed by somebody at FXCM. So instead of profit, they turned to loss. I wonder if FXCM are starting play dirty treat on me. I would like to know if any of you have similar problems. Thanks
Hi Singularity,

Have you already run a report from your Trading Station to see what type of order closed these trades? For example in the report below, you can see order types such as Mkt (Market Order), SE (Stop Entry Order) and LE (Limit Entry Order). Another order type you might see is MC which means Margin Call.

http://img853.imageshack.us/img853/7646/fmz.png


Please tell me what it says in the Condition column on your report for these trades. I will be able to help you further with that information.

Jason
  • #3,794
  • Jun 19, 2013 8:35pm Jun 19, 2013 8:35pm
Quoting redoy300
Hi I am from bangladesh. Forex is getting popular over here. I want to open an account with fxcm.what are the deposit and wthdrawl method?
Hi Redoy,

In Bangladesh, you can transfer funds to and from your FXCM account using either bank wire transfer, credit card or debit card. If you plan to deposit $10,000 or less, then credit or debit card is the best method because it's free. If you are transferring more than $10,000 then you must transfer via bank wire. There is a fee the bank will charge for this wire transfer, but if you qualify for our Active Trader program, then we can reimburse you for this bank wire fee. If you would like me to have an account specialist follow up with you to discuss these options in more detail, please send me a private message with your contact details.

Jason
  • #3,795
  • Jun 19, 2013 11:20pm Jun 19, 2013 11:20pm
Quoting Jason Rogers
{quote} Hi Singularity, Have you already run a report from your Trading Station to see what type of order closed these trades? For example in the report below, you can see order types such as Mkt (Market Order), SE (Stop Entry Order) and LE (Limit Entry Order). Another order type you might see is MC which means Margin Call. {image} Please tell me what it says in the Condition column on your report for these trades. I will be able to help you further with that information. Jason

Hi Jason,
They are 2: Mkt C and 1: Mkt L. I hope you can help me with that. I am really worry about these issues.
Thanks,
  • #3,796
  • Jun 20, 2013 2:53pm Jun 20, 2013 2:53pm
Quoting singularity
{quote} Hi Jason, They are 2: Mkt C and 1: Mkt L. I hope you can help me with that. I am really worry about these issues. Thanks,
Hi Singularity,

If the Condition column for a particular trade says "Mkt C" that means the trade was opened with a Market order and Closed with a market order. If the Condition column says "Mkt L" that means the trade was opened with a Market order and closed with a Limit order. If you don't remember placing these orders, please send me a private message with your account details. I can follow up on this for you. Also, if you ever need immediate assistance regarding an order placed on your account, you can always call our live customer support team 24 hours a day.

Jason
  • #3,797
  • Jun 20, 2013 3:40pm Jun 20, 2013 3:40pm
Quoting Jason Rogers
{quote} Hi Singularity, If the Condition column for a particular trade says "Mkt C" that means the trade was opened with a Market order and Closed with a market order. If the Condition column says "Mkt L" that means the trade was opened with a Market order and closed with a Limit order. If you don't remember placing these orders, please send me a private message with your account details. I can follow up on this for you. Also, if you ever need immediate assistance regarding an order placed on your account, you can always call our live customer...

Hi Jason,
I have sent you my info. My question is why somebody at FXCM closed my open positions?
Thanks,
  • #3,798
  • Jun 20, 2013 4:31pm Jun 20, 2013 4:31pm
Quoting singularity
{quote} Hi Jason, I have sent you my info. My question is why somebody at FXCM closed my open positions? Thanks,
Haven't got a cat have you ?? had 1 of mine close the trade walking over the keyboard, ironically it woulda been the best trade I'd ever made, 2mins later 200pip move my direction first time ever LOL


The universe hates me.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #3,799
  • Jun 20, 2013 7:07pm Jun 20, 2013 7:07pm
Quoting singularity
{quote} Hi Jason, I have sent you my info. My question is why somebody at FXCM closed my open positions? Thanks,
Hi Singularity,

You're trading on our No Dealing Desk (NDD) forex execution which means we offset each of your orders with one of our 10+ liquidity providers, whichever one is quoting the best price for you at that moment in time. We apply a fixed pip markup to each transaction which acts as a commission. That means we make our money off client trading volume, not client losses, so we have no interest in seeing you lose on a trade. There is no reason why someone at FXCM would close your out your trades.

The system could close out your trades automatically, if you ran out of usable margin. In that case the Condition column would have said "MC" for Margin Call, but that is not what you indicated here. I see you've already logged a trade audit for one of these trades. That's good idea because the Trade Audit Committee can investigate the source of those orders if you do not remember placing them yourself.

By any chance, are you running any EAs on this account that might have placed those orders for you? Such information can help the Trade Audit Committee with their investigation.

Jason
  • #3,800
  • Jun 23, 2013 5:40pm Jun 23, 2013 5:40pm
People say lots of bad thing about this broker, I will also say if something happens with my account with them, but here is thing which I think is positive and I think I should also say that,

Here is my short position and it reversed almost hitting my stop to BE just 2 pips was left and then it went down again, so dishonest broker would realize my stop and I could have never known that actually price was 2 pips away from stop order. Anyway I think this is good
Attached Image
kiss the trend
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