Did you all get the new raw spreads? The FXCM supports told me the reduced spreads is not currently available for China.
- #5,384
- Nov 5, 2014 11:00am Nov 5, 2014 11:00am
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
I am so fed up with this! 5 out of 10 trades can't be executed, always get the message: "Please wait... Order is being processed by the server", "Trade context is busy", or "Invalid prices". And as soon as the PA starts going against me, the trade is executed. Good way to make profit from traders FXCM!!! {image} {image} {image}
You seem to be under the mistaken impression that we somehow profit by your losing on the GBP/USD trade you highlighted. Nothing could be further from the truth, and I will explain why that's the case.
With FXCM, you are trading on No Dealing Desk (NDD) forex execution. That means we offset each of your orders one-for-one with one of 10+ competing liquidity providers. Therefore, we don't profit from your losses, since FXCM doesn't take the market risk on the other side of your trades. Furthermore, the raw FX spreads you see on your FXCM platform are the best bid and best ask prices being quoted from among those providers at any given time without any markups added. That means, we don't even profit from the spread, since any spread costs you pay go straight to the liquidity providers.
FXCM makes money on your transaction in one way: the commission. Your screenshot shows that you were trading 0.01 lots (AKA one micro lot) of GBP/USD. That means you would pay us 4 cents in commission for opening that trade, and another 4 cents for closing that trade. FXCM makes money from your trading volume, not your losses. The best thing that can happen for us is for your orders to execute, so we can make the commission. However, your orders can only be executed if the conditions you specified are met.
What was your Maximum Deviation when placing these orders? The most likely reason why you are getting "invalid prices" errors when you placed some orders is that the prices you requested were no longer available. Invalid prices messages are designed to protect you from having your orders filled with more negative slippage than you are willing to tolerate as specified by your Maximum Deviation setting. The other errors you received were most likely the result of several orders getting rejected due to invalid prices. If you find you get these messages too frequently, consider increasing your negative slippage tolerance and raising the Maximum Deviation setting MT4 accordingly.
It's worth noting that FXCM's MT4 platform is unique. We enhanced the functionality of the Maximum Deviation feature of the platform, so it only limits negative slippage, but not positive slippage. That means regardless of how high or how low you set your Maximum Deviation tolerance, your order will always get filled at the best available prices from 10+ competing liquidity providers and receive the full benefits of any positive slippage that's available. More details are available in this post: http://www.forexfactory.com/showthre...11#post7764911
Incidentally, the last time we corresponded, you were trading on a demo account. Are you now trading live? Not that it makes a difference to the reasons I stated above regarding NDD, but I just wanted to highlight as another point to consider that if you received these errors on a demo where no real money is at stake, then it should be clear that it was not our goal to prevent you from making demo profits.
- #5,385
- Nov 5, 2014 11:54am Nov 5, 2014 11:54am
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
Did you all get the new raw spreads? The FXCM supports told me the reduced spreads is not currently available for China.
For Malaysia, the date is UNKNOWN!!!
We've received lots of feedback from traders excited to switch over to FXCM's new pricing, but this transition is being done region by region 1) to ensure we follow regulatory requirements for due notice to traders which vary by regulator and 2) to ensure an orderly transition within our own system so as not to impact our traders negatively. I will follow up with you both just as soon as I have more information for you.
- #5,386
- Nov 5, 2014 12:37pm Nov 5, 2014 12:37pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #5,387
- Nov 5, 2014 1:20pm Nov 5, 2014 1:20pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #5,389
- Nov 6, 2014 8:35am Nov 6, 2014 8:35am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #5,390
- Nov 6, 2014 7:55pm Nov 6, 2014 7:55pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
Hi I passed an entry order 1.5425 on GBP/CHF and I got 1.54282. How is it possible if I had trading setting on Market range 3.0 pip IOC?
There seems to be some confusion here. The Market Range and IOC (Immediate Or Canceled) features on Trading Station are only available for Market Orders, not Entry Orders. While the Market Range feature allows you to specify the amount of negative slippage you're willing to tolerate on a Market Order, there is no similar feature on Entry Orders at this time. Just ask PoundTrader. He asks me for such a feature (AKA Stop Limit Orders) about once a week.
http://www.forexfactory.com/showthre...82#post7839782With Limit Entry Orders, which are orders to buy below or to sell above the current market price, you can only be filled at the price you requested or better. However, if there isn't sufficient liquidity at the price you requested or better then your limit order will remain waiting instead of executing at a worse price. That means negative slippage is not possible on limit orders, and positive slippage is likely due to the momentum of price movement when such orders are triggered.
With Stop Entry Orders, which are orders to buy above or to sell below the current market price, your order will be filled at the best available price in the market if the order is triggered. That means both positive and negative slippage are possible with stop orders, though negative slippage is more likely due to the momentum of price movement when such orders are triggered.
Below are the stats compiled from over 43 million live trades executed through FXCM from August 2013 to January 2014. In just those six months alone, FXCM clients benefited from over $15 million in positive slippage.
- 73% of all orders had no slippage.
- 15% of all orders received positive slippage.
- 12% of all orders received negative slippage.
- Over 60% of all limit and limit entry orders received positive slippage.
- 53.32% of all stop and stop entry orders received negative slippage.
- #5,391
- Nov 6, 2014 7:57pm Nov 6, 2014 7:57pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #5,392
- Nov 6, 2014 8:35pm Nov 6, 2014 8:35pm
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #5,393
- Nov 7, 2014 12:10am Nov 7, 2014 12:10am
{quote} {quote} We've received lots of feedback from traders excited to switch over to FXCM's new pricing, but this transition is being done region by region 1) to ensure we follow regulatory requirements for due notice to traders which vary by regulator and 2) to ensure an orderly transition within our own system so as not to impact our traders negatively. I will follow up with you both just as soon as I have more information for you.
so the only truth is that.... there is no estimate time on the full switch?, rlly no clue at all?
- #5,395
- Nov 7, 2014 7:47am Nov 7, 2014 7:47am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #5,397
- Nov 7, 2014 8:00am Nov 7, 2014 8:00am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #5,399
- Nov 7, 2014 8:36am Nov 7, 2014 8:36am
- Joined Oct 2011 | Status: Trader | 1,418 Posts
Small disciplines repeated with consistency lead to great achievements.
- #5,400
- Nov 7, 2014 10:03am Nov 7, 2014 10:03am
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts