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FXCM Discussion

  • #5,521
  • Dec 2, 2014 6:54pm Dec 2, 2014 6:54pm
Quoting harmattan
Hi Jason, Since 2.30pm GMT today, the pip spread on FTSE 100 index has gone to 2 pips 3 times. Ok with that and understand that there are reasons probably BUT each time the sceens have frozen on TS2 AND MT4 (Itrade both)... One of the 3 occasions price went to one of my TP's but of course was not closed due to screen freeze. I just want to know if this i slikely to be an ongoing problem that's all. Thanks in advance.
Hi Harmattan,

Two things:

  1. A screen freeze would not prevent your take profit (limit order) from being executed, because such orders are stored on the server-side, not the platform-side. I recommend you file a trade inquiry to determine why your take profit orders were not executed: http://bit.ly/1lQlJ7Z
  2. A screen freeze could not be caused by spreads widening. However, a news event could cause spreads to widen, and prices update more frequently which means more data have to be sent to your computer.

Have you tried reducing the number of symbols (currency pairs) that you're subscribed to during news events? That would reduce the amount of data that have to be sent. To do this, click on the Symbols button on your Trading Station and uncheck the boxes for currency pairs you're not trading at that time.

Also consider how many charts and indicators you have open during the news. You may want to close some out, since each indicator represents another calculation that has to be made on your platform with each price update you receive.

Are you a fan of sports cars? The analogy I think of is a Bugatti Veyron. It can go over 250 mph, but in order to achieve that speed, it has to streamline it's profile. It even lowers to the ground. Below is a great video of it!

Inserted Video
  • #5,522
  • Dec 2, 2014 6:57pm Dec 2, 2014 6:57pm
Quoting spzd
Question Jason... With MT4 a 10,000 unit of currency is 0.1. What is the equivalent with Trading Station?? I think that it is 10, but I am not completely sure...
Your are absolutely right, Spzd

10K on Trading Station is equivalent to 0.10 lots on MT4. On that trade size you're risking about 10 cents per pip depending on the currency pair.
  • #5,523
  • Dec 2, 2014 7:00pm Dec 2, 2014 7:00pm
Quoting strongtrader
Hi Jason, I'm a frim of FXCM Itaaly since some years now and I'm satisfied of the provided service; the only matter is the spread that is not very tight but i see here that now there is a different arrangement, a smaller spread with a commission. Is this arrangement only for USA or is it available also here in Italy?
Hi Strongtrader,

I'm glad you're happy with our service. In regards to our new raw FX spread pricing. This has to be rolled out region by region. While I don't have the details on a transfer date for FXCM Italy at this time, I can check on this for you. In the meantime, please send me a private message and mention the email address we have on file for your account. I will ask one of my colleagues in our Milan office to follow up with you with more information.

Thanks,
Jason
  • #5,524
  • Dec 2, 2014 7:10pm Dec 2, 2014 7:10pm
Quoting Jason Rogers
{quote} The Force is strong in you. {image}How can I resist? Please send me a private message with the email address we have on file for your account, and I'll look into this for you.
Hi Jason,

I pm you last week, any chance to read my request?
Thanks
DV
  • #5,525
  • Dec 2, 2014 7:11pm Dec 2, 2014 7:11pm
Quoting PoundTrader
i heard the withdrawl process is very slow at fxcm, when i was with IBFX if you use a debit card the money was there like the next day, don't know if thats the case with fxcm i just heard traders here in the u.s. say it took them 5 days to get there money
Hi PT,

Most withdrawal requests are received online through our MyFXCM.com portal and processed automatically. Furthermore, our clients can choose from different withdrawal methods. While some options may take several days, others can arrive in your account in just one or two days. For example, you mentioned the US. I have seen ACH withdrawals arrive in a US bank account within 1 to 2 business days of the time an online withdrawal request is submitted.
  • #5,526
  • Dec 2, 2014 7:13pm Dec 2, 2014 7:13pm
Quoting Darth Vader
{quote} Hi Jason, I pm you last week, any chance to read my request? Thanks DV
Yes, I was out for the Thanksgiving holiday but received your message when I returned to the office this Monday. I responded to your PM, and our Operations department is following up on your request for you.
  • #5,527
  • Dec 2, 2014 7:36pm Dec 2, 2014 7:36pm
Quoting Jason Rogers
{quote} Your are absolutely right, Spzd 10K on Trading Station is equivalent to 0.10 lots on MT4. On that trade size you're risking about 10 cents per pip depending on the currency pair.
Thanks. Just wanted to confirm what I thought. Take care
Mark ... Everything you have been told is a LIE
  • #5,528
  • Dec 2, 2014 7:56pm Dec 2, 2014 7:56pm
Hi Jason,

I have a question about the NDD's anonymity... I know from the various material provided by FXCM that the client's stops/limits/entry-orders are not seen by the liquidity provider and the client is supposed to be anonymous. However, I heard that the liquidity providers actually receive a unique identifier representing each FXCM client with every order. Even though this unique identifier does not provide any client information to the liquidity provider, it does allow them to track or build a profile about each FXCM client.

Any comments on this?

Thanks,
MMFX
  • #5,529
  • Dec 3, 2014 2:15am Dec 3, 2014 2:15am
OK, thanks Jason, take your points.
Yes am a sports car fan, watched the vid and see what you mean (1001 bhp just to get from 150mph to 250+mph...hmm) makes me feel the higher spec I asked for on my latest computer still isn't enough. We also live in a little Kent village and broadband is often slower than than it is for "normal" people! might be an added factor? Have a good day, and thanks again
  • #5,530
  • Dec 3, 2014 4:40pm Dec 3, 2014 4:40pm
Quoting moomooforex
Hi Jason, I have a question about the NDD's anonymity... I know from the various material provided by FXCM that the client's stops/limits/entry-orders are not seen by the liquidity provider and the client is supposed to be anonymous. However, I heard that the liquidity providers actually receive a unique identifier representing each FXCM client with every order. Even though this unique identifier does not provide any client information to the liquidity provider, it does allow them to track or build a profile about each FXCM client. Any comments...
I also remember something like this, but not sure if it was about FXCM or LMAX.

FXCM has 15+ LPs. This means that any one of your trades could be open with an LP, and closed with another. So for them to build an accurate profile of you they would need many trades.

FXCM seems to have an 100 ms look-back period - my FIX execution reports show 100 ms between the time their server receives the order and the time they send a executed confirmation. But a few trades are finished in 2 ms (maybe I'm being picked up just before an adverse price change?) Anyway, what I wanted to say, is that if your were put on an LP black-list, you might see longer execution times or even execution failures during normal markets (meaning not fast-moving).
  • #5,531
  • Dec 3, 2014 5:43pm Dec 3, 2014 5:43pm
Thanks for the reply.

Quoting Adal
{quote} I also remember something like this, but not sure if it was about FXCM or LMAX. FXCM has 15+ LPs. This means that any one of your trades could be open with an LP, and closed with another. So for them to build an accurate profile of you they would need many trades.
Assuming one of the LPs is always more competitive than the others, you just might end up always going with the same LP which would make it very easy for them to build a profile on you and cut you off.... of they are able to do so is my main question.

Quoting Adal
{quote}FXCM seems to have an 100 ms look-back period - my FIX execution reports show 100 ms between the time their server receives the order and the time they send a executed confirmation. But a few trades are finished in 2 ms (maybe I'm being picked up just before an adverse price change?) Anyway, what I wanted to say, is that if your were put on an LP black-list, you might see longer execution times or even execution failures during normal markets (meaning not fast-moving).
Indeed... hence my question.

I want to know if that is a possibility through FXCMs NDD. Are you saying you know for a fact it is?

Cheers,
MMFX
  • #5,532
  • Dec 3, 2014 7:35pm Dec 3, 2014 7:35pm
Quoting moomooforex
Assuming one of the LPs is always more competitive than the others, you just might end up always going with the same LP
Then the other LPs should pack up and leave (remember that LPs WANT retail flow).

Quote
Are you saying you know for a fact it is?
No, I don't. But I wouldn't expect that. If your flow is toxic (latency arbitrage, ...), I believe they with just ask you to leave, instead of doing shenanigans.

Here is a tidbit about FastMatch ECN (owned by FXCM among others):

The fill rate and response time information is recorded by FastMatch every time maker and taker interact. This information is used in the new matches to penalize the quote price of the makers that provide poor fill rates and long response times against taker clients. The maximum penalty is 2 PIPS. The adjusted price is then used for the sorting purposes during the match.

I would expect something similar on FXCM (LPs being penalized for bad fills).
  • #5,533
  • Dec 3, 2014 8:15pm Dec 3, 2014 8:15pm
Interesting about the FastMatch ECN - thanks. I certainly would like to know if FXCM has something similar.

Quoting Adal
{quote} If your flow is toxic (latency arbitrage, ...), I believe they with just ask you to leave, instead of doing shenanigans.
Arbitrage aside (which FXCM does not permit anyway), what other flow would classify as toxic. Given forex is zero sum, if you win, someone must lose. Does that mean if you have a winning strategy, the market maker is always losing? I guess it really depends on what they are doing with your position and how well/quickly they offload it to the market.

Do you think if you have a winning strategy which trades frequently enough for a LP to be able to profile you, you would be deemed toxic and penalized in some way? A classic example would be a high frequency scalping strategy.
  • #5,534
  • Dec 3, 2014 9:06pm Dec 3, 2014 9:06pm
Quoting moomooforex
Do you think if you have a winning strategy which trades frequently enough for a LP to be able to profile you, you would be deemed toxic and penalized in some way? A classic example would be a high frequency scalping strategy.
Don't know, but remember that forex is a numbers game. Every LP will have winning trades and losing trades. And if you have a lot of losers it means that your market making algo is not very good.

A few profitable clients do not matter, unless they are huge, and in that case they will move to lower commission venues anyway.
  • #5,535
  • Edited 7:30am Dec 4, 2014 7:16am | Edited 7:30am
Quoting Jason Rogers
{quote} Hi PT, Most withdrawal requests are received online through our MyFXCM.com portal and processed automatically. Furthermore, our clients can choose from different withdrawal methods. While some options may take several days, others can arrive in your account in just one or two days. For example, you mentioned the US. I have seen ACH withdrawals arrive in a US bank account within 1 to 2 business days of the time an online withdrawal request is submitted.
a friend of mine put in his request on Dec-2 it's now Dec-4 and when he ask about it on chat they told him it's may takes upto 5 days
  • #5,536
  • Dec 4, 2014 8:34am Dec 4, 2014 8:34am
FXCM Demo Acc

My demo acc repeatedly gives me "off quotes" and "invalid prices"

One hour after the news event!!!!

I am just sick and tired of this. Does anyone experience the same with your FXCM demo????

If the demo does this , what would the live acc be like??

Jason how do you explain this?

G
Never Ever Give Up!
  • #5,537
  • Dec 4, 2014 8:59am Dec 4, 2014 8:59am
Quoting Cobra
FXCM Demo Acc My demo acc repeatedly gives me "off quotes" and "invalid prices" One hour after the news event!!!! I am just sick and tired of this. Does anyone experience the same with your FXCM demo???? If the demo does this , what would the live acc be like?? Jason how do you explain this? G

My Demo acct does it all the time also and I even have the deviation set to 200(20 pips).
  • #5,538
  • Dec 4, 2014 9:39am Dec 4, 2014 9:39am
Quoting Cobra
FXCM Demo Acc My demo acc repeatedly gives me "off quotes" and "invalid prices" One hour after the news event!!!! I am just sick and tired of this. Does anyone experience the same with your FXCM demo???? If the demo does this , what would the live acc be like?? Jason how do you explain this? G
same here, serious lag on demo, and countless off quote, requite, or unable to close trade due invalid price.
makes tough to think what live would be.
there is always, always another trade!!
  • #5,539
  • Dec 4, 2014 10:38am Dec 4, 2014 10:38am
Quoting moomooforex
Hi Jason, I have a question about the NDD's anonymity... I know from the various material provided by FXCM that the client's stops/limits/entry-orders are not seen by the liquidity provider and the client is supposed to be anonymous. However, I heard that the liquidity providers actually receive a unique identifier representing each FXCM client with every order. Even though this unique identifier does not provide any client information to the liquidity provider, it does allow them to track or build a profile about each FXCM client. Any comments...
Hi Moomooforex,

The pending orders of FXCM clients (stops, limits, entry orders) are not seen by the 10+ competing liquidity providers on our No Dealing Desk (NDD) forex execution. Only when one of these orders is triggered will it be sent to a liquidity provider for execution (whichever one is quoting the best available price). Furthermore, when the orders of our retail clients are sent to liquidity providers, there is no "unique identifier" used to represent individual traders. Those orders all have the exact same identifier, and all that tells the liquidity providers is that the orders came from FXCM's retail platform.
  • #5,540
  • Dec 4, 2014 10:55am Dec 4, 2014 10:55am
Quoting harmattan
makes me feel the higher spec I asked for on my latest computer still isn't enough.
Possibly, but that wouldn't be my first suspicion.

Quoting harmattan
We also live in a little Kent village and broadband is often slower than than it is for "normal" people! might be an added factor?
This sounds like a more likely culprit. As I mentioned in my previous post to you, the frequency with which prices update during a news event can be many times greater than at other times. (You can confirm this by viewing the tick volume during the time in question, since that will count the number of price updates for each candle.) More price updates mean more data that has to be sent over your internet connection. Consider using a Virtual Private Server (VPS) to reduce the latency between our trading servers and your trading terminal. Running your MT4 platform on a VPS that's co-located with our MT4 servers would be like placing orders from a computer right next door.

More price updates also mean more calculations that have to be performed on each chart indicator/EA that you are running. Consider closing out charts, indicators and EAs that you won't need during the news event itself. (This is the news trading equivalent of the procedures James May goes through to put the Bugatti Veyron in high speed mode 4 minutes and 10 seconds into the YouTube video in my earlier post.) If you save those chart setups as a profile you can always load them back after the news event.
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