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FXCM Discussion

  • #4,961
  • Aug 5, 2014 1:20am Aug 5, 2014 1:20am
Hi Jason,

I appreciate that FXCM takes part in the discussion and explains current issues. It's much harder to stand up in front of the community and discuss such issues than just hiding away trying to find some newbie traders without any knowledge and continue to fool them.

It's going to be a very difficult task to turn the negative image FXCM has due to all those fines and get back into the very small group of trustworthy brokers. It's sure possible and your effort will be seen and rewarded.

Two things:
1) No dealing desk doesnt mean anything. You dont need manual dealers for hostile execution practices. Just take VDP or comparable plugins and you can be as bad as a drunk manual dealer - just faster.
2) Supervision is important and I would never go with an unregulated broker. But the community doesnt know that one single EU licence allows you to sell in all EU countries through the passport. So there are differences & being supervised by the Cyprus authorities for me is the same as being supervised by Silvio Berlusconi and his bunga girls :-)

Again, I think its really good that you are standing in front of the crowd explaining yourself and clearing up misunderstandings.

Thank you for that.
  • #4,962
  • Edited 7:16pm Aug 5, 2014 7:04pm | Edited 7:16pm
Quoting fxways
Two things: 1) No dealing desk doesnt mean anything. You dont need manual dealers for hostile execution practices. Just take VDP or comparable plugins and you can be as bad as a drunk manual dealer - just faster.
Recent execution stats for FXCM demonstrate that our No Dealing Desk model executes client orders fairly with traders receiving positive slippage at least as frequently as negative slippage:

  1. 73% of all orders had no slippage.
  2. 15% of all orders received positive slippage.
  3. 12% of all orders received negative slippage.
  4. Over 60% of all limit and limit entry orders received positive slippage.
  5. 53.32% of all stop and stop entry orders received negative slippage.

That's because FXCM offsets each client order is offset one-for-one at the best price available from 10+ competing liquidity providers. FXCM makes the same fixed pip markup regardless of the price where the order is filled, so we want client orders to receive the best fills possible.




Quoting fxways
2) Supervision is important and I would never go with an unregulated broker. But the community doesnt know that one single EU licence allows you to sell in all EU countries through the passport. So there are differences & being supervised by the Cyprus authorities for me is the same as being supervised by Silvio Berlusconi and his bunga girls :-) Again, I think its really good that you are standing in front of the crowd explaining yourself and clearing up misunderstandings. Thank you for that.
While FXCM is not regulated in Cyprus, we are regulated in major financial jurisdictions around the world including the UK, the US, Hong Kong, Japan and Australia. Furthermore, while most forex brokers are privately-held companies, we are listed publicly on the New York Stock Exchange (ticker: FXCM). Financial transparency is one of the key reasons traders have entrusted FXCM with $1.245 billion in client funds.
  • #4,963
  • Aug 6, 2014 7:57am Aug 6, 2014 7:57am
I couldn't close or open trades about 20 minutes ago. I cannot believe it was a liquidity issue. I was trying to close 1k and open 15k of Aud/Usd just too see if it would open at that little of an amount. Wouldn't go through on cell phone or desktop. I have screen shots. Saying I didn't have sufficient funds when I had plenty of margin! This is not okay and prevented me from getting a far better entry point.
  • #4,964
  • Aug 6, 2014 8:00am Aug 6, 2014 8:00am
Whats the max "lot" that FXCM can handel to open?Could i open at trade with "5.00 lot" and close it in lets say 2-3minites?
I Don't Like To Talk Too Much
  • #4,965
  • Edited 8:23am Aug 6, 2014 8:13am | Edited 8:23am
Quoting Rizmeister
I couldn't close or open trades about 20 minutes ago. I cannot believe it was a liquidity issue. I was trying to close 1k and open 15k of Aud/Usd just too see if it would open at that little of an amount. Wouldn't go through on cell phone or desktop. I have screen shots. Saying I didn't have sufficient funds when I had plenty of margin! This is not okay and prevented me from getting a far better entry point.
Hi Rizmeister,

Your forum profile mentions that you live in the US. That means your account is set up with our Smart Margin feature: http://www.forexfactory.com/showthre...58#post6832058

I think what's happened is that your Usable Maintenance Margin (Usbl Maint Mr in the Accounts window) is at or near zero. While that does not mean your trades will be liquidated immediately due to a margin call, it does mean that you have insufficient funds to open new positions. You can see an example of how Smart Margin works in this post: http://www.forexfactory.com/showthread.php?=6850036#post6850036

If you have further questions about this, please let me know.

Thanks,
Jason

Note: Smart Margin is only for FXCM US clients, because CFTC regulations require a higher amount of margin for forex trades (2%) than is required in other countries.
  • #4,966
  • Aug 7, 2014 10:40am Aug 7, 2014 10:40am
Quoting Godan94
Whats the max "lot" that FXCM can handel to open?Could i open at trade with "5.00 lot" and close it in lets say 2-3minites?
Hi Godan,

By default, the largest trade you can place on FXCM's retail trading platforms with a single order is 5,000 micro lots or 5 million currency units. On that order size, you're risking approximately $500 per pip. Provided you have adequate margin, you can take even larger positions in the market by breaking them up into blocks of 5,000k per order.

On our No Dealing Desk forex execution model, there are no restrictions on how quickly you get in and out of trades. We offset each client order one-for-one with our 10+ liquidity providers, so our profit comes from client trading volume and is not affected by client profits or losses. That makes high volume traders some of our best customers.

If you plan trade more than 10 million per month (10,000 micro lots) or deposit at least 25k then I encourage you to contact our Active Trader department directly ([email protected]). Our specialists can speak with you in more detail about lower transaction costs (spreads/commissions) and other benefits available to Active Traders.
  • #4,967
  • Aug 7, 2014 11:10am Aug 7, 2014 11:10am
Quoting Godan94
Whats the max "lot" that FXCM can handel to open?Could i open at trade with "5.00 lot" and close it in lets say 2-3minites?
Thanks for your private message, Godan

I just responded
  • #4,968
  • Aug 8, 2014 11:32am Aug 8, 2014 11:32am
Jason, a bad tick inside FXCM Trading Station platform for GBP/CAD? The lowest is 1.83217 or 1.83300? Please help to re-check it.

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: fxcm-ts-gbp-cad-03.png Size: 60 KB
Attached Images
  • #4,969
  • Edited 3:57pm Aug 8, 2014 3:39pm | Edited 3:57pm
Quoting zam4ever
Jason, a bad tick inside FXCM Trading Station platform for GBP/CAD? The lowest is 1.83217 or 1.83300? Please help to re-check it. cheers {image} {image} {image}
Hi Zam,

I just checked on my own platform and it's showing me a low of 1.83300:

http://i.imgur.com/476MbbY.png

I've notified the Trade Services Team about your chart, so they look into whether any client orders were executed on the price you saw. To help them with this, could you tell me what server your account is on? You can see the server name at the bottom right of your Trading Station window just to left of the server time.

If you had any trades on your own account that were impacted by this, then please use our online form to file a trade inquiry. The Trade Services Services team can then follow up with you as well.

Thanks,
Jason
  • #4,970
  • Aug 12, 2014 11:46am Aug 12, 2014 11:46am
Amazing how IG dropped the FTSE 100 price 20-odd points this afternoon (16:30 BST) on reaction to German economic news, yet FXCM didn't even flinch...
Full-time trader and loving it!
  • #4,971
  • Aug 13, 2014 8:29am Aug 13, 2014 8:29am
Quoting Jason Rogers
{quote} Hi Digitalis, while the Real Volume and Transactions indicators are currently available for the 14 most popular currency pairs, I'll post an update here should they become available for CFDs like UK100.
Hi Jason, How far back in time does fxcm offer the real volume data on each time frame? Thanks!
  • #4,972
  • Aug 13, 2014 2:44pm Aug 13, 2014 2:44pm
Quoting nonlinear
{quote} Hi Jason, How far back in time does fxcm offer the real volume data on each time frame? Thanks!
Hi Nonlinear, the data on the Real Volume and Transactions indicators goes back to January 2010.
  • #4,973
  • Aug 19, 2014 6:36pm Aug 19, 2014 6:36pm
Just a heads up: due to the UK bank holiday on Monday, August 25th trading in UK100 will be closed that day and resume normal trading the following day. Trading hours for other CFDs and forex remain unchanged.
  • #4,974
  • Aug 29, 2014 2:26am Aug 29, 2014 2:26am
Hi Jason:
By accident I hit Alt-b on an MT4 chart and got a list I've never seen before - only been using MT4 about 10 years!
I think it's FXCM-specific as can't see reference to it anywhere else. Lets you place sell stop or buy stop orders at the prices show.
This sort of function could be useful to me for sell limit/buy limit orders. Is there any documentation on it please?
Attached Image
Full-time trader and loving it!
  • #4,975
  • Aug 29, 2014 11:21am Aug 29, 2014 11:21am
Below are the CFD trading hours for holidays in September. All times below are in GMT.

http://i.imgur.com/rDF60Pz.png


Forex trading hours continue as normal. For the holiday rollover interest schedule, please visit the DailyFX Rollover Calendar.
  • #4,976
  • Aug 29, 2014 3:51pm Aug 29, 2014 3:51pm
Quoting Digitalis
Hi Jason: By accident I hit Alt-b on an MT4 chart and got a list I've never seen before - only been using MT4 about 10 years! I think it's FXCM-specific as can't see reference to it anywhere else. Lets you place sell stop or buy stop orders at the prices show. This sort of function could be useful to me for sell limit/buy limit orders. Is there any documentation on it please? {image}
Hi Digitalis,

This depth of market feature was added to build 670 of MT4 by MetaQuotes. More information about it can be found in section 5 of this page on their website: http://www.metaquotes.net/en/metatrader4/news/4230
  • #4,977
  • Aug 29, 2014 4:27pm Aug 29, 2014 4:27pm
Quoting Jason Rogers
{quote} Hi Digitalis, This depth of market feature was added to build 670 of MT4 by MetaQuotes. More information about it can be found in section 5 of this page on their website: http://www.metaquotes.net/en/metatrader4/news/4230
Thanks Jason - I missed that one. Looks useful too.
Full-time trader and loving it!
  • #4,978
  • Aug 30, 2014 11:41am Aug 30, 2014 11:41am
Hi Jason,

I m really confused about Renko Charts here in FXCM. From past 2 days i m going mad with confusion. Actually, i m trading FXCM trading station and hust two days back i came to know you guys are providing Kagi and Renko charts. I was really excited because from past month i have been looking for Renko chart but as i was testing my strategy i came to notice that renko wasn't updating itself. I went to FXCM live chat and there one guy told me that they provide only offline charts for Renko and i really got disappointed but later same day when i had a chat with another FXCM representative, he told me that i need to uninstall current platform and re-download the new FXCM trade station . Whats going on? You guys are providing live renko charts? Self updating? The full running one??

Another problem is that renko charts are supposed to be timeless and volume less but in your platform, time frames are present and renko changes its shape when time frame changes which is not possible in renko because renko are generated by pips size and time frame change cannot change the patterns whether its daily or weekly.

So, can you help me out of this massive confusion which i m facing right now? Thanks
  • #4,979
  • Aug 31, 2014 1:46am Aug 31, 2014 1:46am
Hi Jason,



"Forex trading hours continue as normal. For the holiday rollover interest schedule, please visit the DailyFX Rollover Calendar."


From China we cannot access link: bit.ly

It will be more safe, if i see a link like : www.fxcm.com/xxx/xxxxxx
  • #4,980
  • Sep 1, 2014 12:42am Sep 1, 2014 12:42am
Can someone answer me about Renko Charts here in FXCM. I want updating renko charts but it seems i m getting offline ones?
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