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FXCM Discussion

  • #5,081
  • Oct 2, 2014 5:58pm Oct 2, 2014 5:58pm
Quoting morpheous
Jason, Is the new tighter spreads with commission structure available to Canadian accounts thru Friedberg Direct? Thanks, Morpheous
Hi Morpheous,

This weekend, FXCM US accounts will be upgraded to our new pricing model: http://www.fxcm.com/advantages/sprea...0000000MusRAAS

I will post more updates in this thread as I receive details about when this new pricing will become available to our clients in other regions.
  • #5,082
  • Oct 2, 2014 10:05pm Oct 2, 2014 10:05pm
Quoting Jason Rogers
{quote} Hi Sam, Since you live in Mongolia, you can trade CFDs through FXCM. If you don't see CFD products on your platform, that suggests your trading account is currently set up under FXCM's US-regulated entity. Note that when FXCM acquired IBFX's MT4 accounts, all IBFX US accounts were transferred to FXCM US, and all IBFX AU accounts were transferred to FXCM AU. If you have an FXCM US account that you would like to transfer to another FXCM entity in order to trade CFDs, then you can do so by completing this online forum: http://www.fxcm.com/forms/llc-to-ltd...0000000MusRAAS...
thank you, jason!
i will stay for the time being by us-acc.
Quoting Jason Rogers
If you post your questions here on the forum, I can respond during daytime hours in the US
this is better solution, thanks!
Money is made by sitting, not trading. Jesse L. Livermore
  • #5,083
  • Oct 3, 2014 12:09am Oct 3, 2014 12:09am
Hello Jason, I'm an American citizen but live in Thailand. I was curious if my account will be updated to the new spreads or if I'll be in a different category and have to wait. Thanks in advance.
  • #5,084
  • Oct 3, 2014 7:49am Oct 3, 2014 7:49am
I just want to say how horrid it is too trade on FXCM during high volatility.. Last two times have worked in my favor but boy you have no control over the account during them........you guys should really look into this or maybe the SEC should be contacted. This is not okay many people have invested much through the platform.
  • #5,085
  • Oct 3, 2014 8:24am Oct 3, 2014 8:24am
Yep been long usd/cad since wednesday lunch time had a tp limit order at 1.12238 this was not triggered. Price was bobbing up and down around this price so people were obviously buying and selling dollars , looks like they just didn't want to buy any off me...or was it the fxcm platform.......????Managed to eventually take my profit manually but two and a bit pips below where my order had been ..tch!!!!!
  • #5,086
  • Oct 3, 2014 9:16am Oct 3, 2014 9:16am
Jason, Can you confirm that if I want to switch trading platform from TS2 to MT4, (so I can use my own trading buttons) then I have to open a completely new account? Why can't my existing account, including balance and open trades, just be accessed via MT4?

Having to transfer to a new account has a big impact on how I trade, as obviously I've got to keep the old account funded to cover open trades and ensure no margin calls. It also means I have to monitor 2 accounts instead of one, until I can run down the open trades in the TS2 account.

Is there a way around this please?
Thanks.
Full-time trader and loving it!
  • #5,087
  • Oct 3, 2014 10:36am Oct 3, 2014 10:36am
Quoting ChokdeeCF
Hello Jason, I'm an American citizen but live in Thailand. I was curious if my account will be updated to the new spreads or if I'll be in a different category and have to wait. Thanks in advance.
Hi ChokdeeCF,

FXCM is completing these upgrades to our new pricing model by entity, not by citizenship. That means if your FXCM account is with our US-regulated entity, then your account will be upgraded to our new pricing model this weekend after trading closes at 5pm New York Time today. If your account is with another FXCM entity, then please note that I will be posting further updates on this thread about when this new pricing will be rolled out in other regions.

An easy way to check if your account is with FXCM US is to look at the Advanced Dealing Rates. If you see any CFD products like SPX500 (S&P 500), USOil (West Texas Intermediate) or XAU/USD (Gold), then your account is not with FXCM US, since CFD trading is prohibited by US regulations.
  • #5,088
  • Oct 3, 2014 11:03am Oct 3, 2014 11:03am
Quoting Jason Rogers
{quote} Hi Seitecu, I will let you know as soon as an official date is announced.

Hi Jason,

I am an account holder with fxcm, But I couldn't able to trade over a year, due to personal reasons. Quite recently I tried to login to my trading station (I use the TS -II). I couldn't able to login to my account, however I could able to access to fxcm's my account page. But I couldn't able to open my trading station, it just hangs up no messages and nothing. I am using Linux Mint operating system. There was no problem when I was using windows OS. and this is the first time I am trying to access the TSII through Linux OS. can you pleas tell me whom to approach regarding this problem and how to fix it?

regards civilpes2001
  • #5,089
  • Oct 4, 2014 5:39am Oct 4, 2014 5:39am
Quoting Jason Rogers
{quote} Hi Morpheous, This weekend, FXCM US accounts will be upgraded to our new pricing model: http://www.fxcm.com/advantages/sprea...0000000MusRAAS I will post more updates in this thread as I receive details about when this new pricing will become available to our clients in other regions.

Hey,
I was under the impression that there was no commission in FXCM. It was only pip charge I assume. Is it true?? If not how much will it cost for one transaction including pip for A trade?

Thanks in advance.
  • #5,090
  • Oct 4, 2014 6:22am Oct 4, 2014 6:22am
server down uk site branch?
  • #5,091
  • Oct 5, 2014 2:16pm Oct 5, 2014 2:16pm
those are the new fxcm updates? http://www.dailyfx.com/forex/educati...0000000Mum4AAC
  • #5,092
  • Oct 5, 2014 5:14pm Oct 5, 2014 5:14pm
Quoting Rizmeister
I just want to say how horrid it is too trade on FXCM during high volatility.. Last two times have worked in my favor but boy you have no control over the account during them.
Hi Rizmeister,

While recent examples in the stock, futures and forex markets have shown that tech issues can occur in any market with any broker, I checked with our tech support team for you and there were no issues on our end during the recent NFP volatility that should have affected your trading. By the way, I'm glad to hear your trades worked out in your favor. On our No Dealing Desk forex execution, we make our money from your trading volume, not your losses, so profitable traders are our best clients!

That said, it's important to consider some factors that can cause traders in any market with any broker to encounter issues when trading during volatility and what you can do personally to minimize these problems on your end and maximize your chances for success:

http://i.imgur.com/4cewECv.png


The chart above shows the Tick Volume, Transactions and Real Volume around the time of the recent NFP announcement.

Notice how the Tick Volume surges to more than 8 times the normal levels. That means during NFP there are 8 times as many price quote updates being sent to your platform compared to normal times. That's 8 times the data being sent to your charts and 8 times the number of calculations that have to be performed on any indicators you're running. You can reduce this load by closing out the charts you won't need during the news event. You can save these charts to load back later. Also, you can reduce the amount of price quotes that have to be sent to your platform by unsubscribing to currency pairs you don't plan to trade.

Notice how Transactions and Real Volume both surge to more than 10 times the normal levels. That means during NFP there are 10 times as many people trying to place orders. However, unlike normal times when there is generally healthy balance between buyers and sellers, the moments after a news announcement like NFP, usually everyone is trying to place orders in the same direction. Either everyone wants to sell, or everyone wants to buy based on the news. That means getting your order sent faster than the other guy is the name of the game.

If you aren't already doing this, consider using a Virtual Private Server (VPS). The VPS providers listed on our website are co-located with our servers which can reduce the distance your orders have to travel. In normal times, such fractional speed advantages might not matter, but during a news event, this reduction in latency could mean the different between you getting the price you want and not. VPS providers charge about $30 per month for their service, but it's free for FXCM clients with an account balance of $5000 or more: http://www.fxcm.com/forms/vps-hostin...0000000MusRAAS


Quoting Rizmeister
you guys should really look into this or maybe the SEC should be contacted. This is not okay many people have invested much through the platform.
It's true that unlike most firms in the industry, FXCM is regulated by the SEC. This is because we are one of the only retail forex brokers that's a publicly-traded company (NYSE ticker: FXCM). However, forex trading and execution in the US is still regulated by the CFTC and NFA. Therefore, in compliance with NFA rules regarding Price Slippage and Price Re-quoting that were finalized in 2012, FXCM LLC provides daily trade reports to the NFA which monitors and supervises FXCM LLC's activity including information on the price where all client orders are filled and the corresponding price where those orders are offset with our liquidity providers. All of FXCM's global trading entities including FXCM UK execute client rolling spot forex transactions as a riskless principal with FXCM LLC, so the same execution standards are applied for all of our clients worldwide.

Here are stats compiled from 43,128,901 trades executed through FXCM from August 2013 to January 2014: http://www.fxcm.com/advantages/forex...0000000MusRAAS

  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.

In just those six months alone, FXCM clients benefited from over $15 million in positive slippage. That's a key reason why, traders around the globe entrust FXCM with $1.312 billion in client funds: http://www.fxcm.com/about/financials...0000000MusRAAS

  • #5,093
  • Oct 5, 2014 5:22pm Oct 5, 2014 5:22pm
Quoting TheGreatMilenko
Yep been long usd/cad since wednesday lunch time had a tp limit order at 1.12238 this was not triggered. Price was bobbing up and down around this price so people were obviously buying and selling dollars , looks like they just didn't want to buy any off me...or was it the fxcm platform.......????Managed to eventually take my profit manually but two and a bit pips below where my order had been ..tch!!!!!
Hi TheGreatMilenko,

It's important to keep in mind that with a limit order, your order can only be filled at the price you specified or better. That means even if that price level is reached, your take profit order can only be filled if there is sufficient liquidity not only for your order but for all the orders in front of you in the queue who also want to sell there. It's typical during a news event like NFP for there to be only a limited amount of liquidity available at the top of a price spike for all the people who want to sell at that high point. I'm glad you were still able to take a profit albeit a couple of pips lower.
  • #5,094
  • Oct 5, 2014 5:23pm Oct 5, 2014 5:23pm
Quoting Digitalis
Having to transfer to a new account has a big impact on how I trade, as obviously I've got to keep the old account funded to cover open trades and ensure no margin calls. It also means I have to monitor 2 accounts instead of one, until I can run down the open trades in the TS2 account. Is there a way around this please? Thanks.
It's possible we may have a solution for you, but I want to double-check with my colleagues in our Operations department to confirm this. Please send me a private message with your account details, and I'll get back to you after speaking with them about your account.

Thanks,
Jason


PS: I was curious about your comment that you wanted to use MT4 so you can use your own trading buttons. If you don't mind sharing, I would be interested to hear more about this. Sounds intriguing!
  • #5,095
  • Oct 5, 2014 5:27pm Oct 5, 2014 5:27pm
Quoting civilpes2001
{quote} Hi Jason, I am an account holder with fxcm, But I couldn't able to trade over a year, due to personal reasons. Quite recently I tried to login to my trading station (I use the TS -II). I couldn't able to login to my account, however I could able to access to fxcm's my account page. But I couldn't able to open my trading station, it just hangs up no messages and nothing. I am using Linux Mint operating system. There was no problem when I was using windows OS. and this is the first time I am trying to access the TSII through Linux OS. can...
Hi Civilpes2001,

Welcome back! I responded to your similar post in this other thread: http://www.forexfactory.com/showthre...07#post7779907
  • #5,096
  • Edited Oct 6, 2014 12:11am Oct 5, 2014 10:47pm | Edited Oct 6, 2014 12:11am
Quoting smash1820
{quote} ROFL... you must be kidding And if you're not, then you don't know what you're talking about. I'm done with this shit.
I don't say FXCM is perfect and never has done a wrong thing, just look the fines of the NFA's website or like this:

FXCM ordered to pay $6 million more by the CFTC to settle allegations of failure to monitor and maintain its trading systems - See more at: http://forexmagnates.com/fxcm-ordere....GOFUm2Nl.dpuf

But, I think the best forex brokers are FXCM and OANDA, but I think FXCM is the best. The brokers you should use are those who have regulation from the NFA and FSA, because if the broker do something wrong, they will get fined, but if a forex broker with regulation on cyprus or another island that you don't know where they are on the map, if those brokers do something wrong, you can't do anything.
Bavarian Trading FX
  • #5,097
  • Oct 6, 2014 7:45am Oct 6, 2014 7:45am
Hi Jason,

Quick question; I notice, in the "Market Watch" window on FXCM's MT4 platform that the new spreads are reflected in the numbers. However, on a chart, the new spreads aren't reflected and the bid/ask prices aren't even accurate. I'm not flyin' off a rail about it - I figure you guys are still crankin' out this update - but I just wanted to ask if this was a known issue that was going to be addressed.
Attached Image (click to enlarge)
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  • #5,098
  • Oct 6, 2014 11:55am Oct 6, 2014 11:55am
Quoting civilpes2001
{quote} Hey, I was under the impression that there was no commission in FXCM. It was only pip charge I assume. Is it true?? If not how much will it cost for one transaction including pip for A trade? Thanks in advance.
Hi Civilpes2001,

You're correct that previously your FXCM US account had no commissions. That's because we used to add a pip markup to the spreads. Now FXCM US accounts have been upgraded to our new pricing model. That means you're trading on raw FX spreads that show the exact prices we receive from our liquidity providers without any markups* http://www.fxcm.com/advantages/sprea...0000000MusRAAS


http://i.imgur.com/84mAq8B.png

*In some instances, accounts for clients of certain intermediaries are subject to a markup.



The pip markups that were previously included in the spreads have been replaced with transparent low commissions. Below are examples of how this new pricing compares to the old setup.


http://i.imgur.com/6qDMIQm.png

1 Listed commissions will not apply to some customer accounts due to their relationship with certain intermediaries.



On a 10k mini lot trade on EUR/USD, you would pay 40 cents commission per side. That's 40 cents when you open the trade, and 40 cents when you close it. That's a round turn commission of 80 cents. With a 0.2 spread on EUR/USD, you would pay 20 cents in spread cost. That plus the 80 cents round turn commission adds up to a total transaction cost of $1 on your 1k micro lot trade. That's 60% less than the old pricing model where you would have paid $2.50 in spread cost with no commission.

We believe that this pricing model reflects FXCM's core business principals, offering direct access to quotes from multiple liquidity providers and will be ideal for scalping while providing increased execution benefits to stop and limit orders.
  • #5,099
  • Oct 6, 2014 11:56am Oct 6, 2014 11:56am
I like the new spreads Jason...
Attached Image
  • #5,100
  • Oct 6, 2014 2:22pm Oct 6, 2014 2:22pm
Quoting Bilstein
Hi Jason, Quick question; I notice, in the "Market Watch" window on FXCM's MT4 platform that the new spreads are reflected in the numbers. However, on a chart, the new spreads aren't reflected and the bid/ask prices aren't even accurate. I'm not flyin' off a rail about it - I figure you guys are still crankin' out this update - but I just wanted to ask if this was a known issue that was going to be addressed. {image}
I noticed this as well and still have this problem too. It can be frustrating at times looking at a chart and see the price be off by up to 5 pips!

I assume they're aware of the issue and will resolve it soon. Am I right, Jason?
Please check out my blog at https://from-zero-to-hero . net
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