FXCM Discussion | Page 308 | Metals Mine

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/JPY

Similar Threads

FXCM with Sierra Charts - Discussion and alternatives 8 replies

Elliott Waves discussion 4 replies

FXCM gets another CFTC fine, while Drew Niv leaves FXCM UK board 17 replies

Euro/Dollar discussion 9 replies

Forward Testing Discussion Thread 241 replies

Attachments: FXCM Discussion
Exit Attachments

FXCM Discussion

  • #6,141
  • Jan 18, 2015 11:40am Jan 18, 2015 11:40am
Quoting ZebraSquirl
Okay, this is a gigantic WTF moment right now: {image} http://forexmagnates.com/fxcm-emerge...ess-alpari-uk/
This may turn out to be a gigantic coup or an incredibly bad idea ... . Naturally, if it turns out well, Niv's going to be praised for his incredible genius at taking advantage of market conditions to expand.

I'm not sure, however, that the $300 million will be enough to do this. A major portion of this, after all, was intended to bring them into SEC compliance, not for going out into the market and purchasing troubled assets ... . They would, after all, only have $75 million to play with after replenishing the $225 million (if SEC regs actually require that; less cash may be required to bring them into compliance, but they didn't have much capital in excess of required reserves at the end of November 2014 ($14.6 million according to CFTC data)).

A very interesting play if it comes to fruition ... . Right now, just rumor ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #6,142
  • Jan 18, 2015 11:41am Jan 18, 2015 11:41am
Also, I've never seen so many "invisibles" dropping in on this thread ... (or any other thread for that matter).
Fireworks are fun ... as long as you don't blow your fingers off.
  • #6,143
  • Jan 18, 2015 11:47am Jan 18, 2015 11:47am
On a lighter note, the question on everyone's mind:

Inserted Video
Fireworks are fun ... as long as you don't blow your fingers off.
  • #6,144
  • Jan 18, 2015 12:13pm Jan 18, 2015 12:13pm
Quoting ZebraSquirl
Also, I've never seen so many "invisibles" dropping in on this thread ... (or any other thread for that matter).

Maybe it is because of the BS you just posted?
Never Ever Give Up!
  • #6,145
  • Jan 18, 2015 12:18pm Jan 18, 2015 12:18pm
Quoting ZebraSquirl
Okay, this is a gigantic WTF moment right now: {image} http://forexmagnates.com/fxcm-emerge...ess-alpari-uk/
we don't know the details of the deal so we will have to wait. I'm sure they aren't that dumb to buy something to add more risk. I'm guessing they will buy up the assets, Alpari will still be insolvent. That is how it is done, i.e. JP Morgan during the financial crisis. They took up all of Washington Mutual, Bear Sterns, and other assets without much of the liability.
Trade what you see, not what you think!
  • #6,146
  • Jan 18, 2015 3:05pm Jan 18, 2015 3:05pm
To whoever based in Australia and got hurt by FXCM.

You can now make complaint to ASCI (Australian Securities $ Investment Commission)à http://www.asic.gov.au/for-consumers/

It clearly stats:

Borrowing money:
People who provide you with credit or consumer leases must be licensed or authorised by ASIC. They must not give you credit that is unsuitable for you.

It is very clear FXCM and all these forex brokage firms break the rules with these kinds of fluctuation. In ASIC’S perspective, forex brokers must factor in potential fluctuations in the market and provide appropriate leverage. If you show them evidence on how FXCM pushed regulators around the world to allow them providing more leverage to clients in order to generate more sales, FXCM will be in big trouble.
  • #6,147
  • Jan 18, 2015 3:19pm Jan 18, 2015 3:19pm
Quoting OMGtrader
{quote} we don't know the details of the deal so we will have to wait. I'm sure they aren't that dumb to buy something to add more risk. I'm guessing they will buy up the assets, Alpari will still be insolvent. That is how it is done, i.e. JP Morgan during the financial crisis. They took up all of Washington Mutual, Bear Sterns, and other assets without much of the liability.
Agree.. FXCM just got f*cked by their clients and had to take a loan (with terrible terms) just to survive through the weekend. Do they really want to take on someone else's losses and loser clients? Doesn't seem to make a lot of sense. Sounds like an asset buy if anything, probably just market rumors, who knows.
  • #6,148
  • Jan 18, 2015 4:31pm Jan 18, 2015 4:31pm
Quoting zachster104
How many people are planning to keep their account with FXCM?
//------

hey zachster..... i have no intention of leaving fxcm..... my ibfx account was transferred to them last september so my experience is limited.....

the raw data feed and fifo gave my ea's a little trouble at first, but finally got all that sorted out in december.....

my focus is on trading..... so far my results with fxcm are slightly better than ibfx....h
to trade and code, keep both simple... no call to impress....h
  • #6,149
  • Jan 18, 2015 4:35pm Jan 18, 2015 4:35pm
Are this their normal spreads during this time of the day? this is from a demo account but I'm curious how they are on their live accounts, isn't supposed their spread to be lowered now that they have introduced commissions?

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: fxcm spreads.PNG Size: 38 KB
  • #6,150
  • Jan 18, 2015 4:38pm Jan 18, 2015 4:38pm
Quoting triger88990
Are this their normal spreads during this time of the day? this is from a demo account but I'm curious how they are on their live accounts, isn't supposed their spread to be lowered now that they have introduced commissions? Thanks. {image}

At 5:37 est on a live account my spread is at 2.4 for GBP/USD. This will lower during the London and US trading session. I usually dont trade Asia for the reason of spreads are higher and I take short term positions.
  • #6,151
  • Jan 18, 2015 4:40pm Jan 18, 2015 4:40pm
Quoting triger88990
Are this their normal spreads during this time of the day? this is from a demo account but I'm curious how they are on their live accounts, isn't supposed their spread to be lowered now that they have introduced commissions? Thanks. {image}
The spreads you are showing are not typical of FXCM, I have been with them for years. Now that they have introduced their commissions pricing structure, I typically have spreads of less than a pip on A/U, U/J and U/C.
Freedom 30?
  • #6,152
  • Jan 18, 2015 4:41pm Jan 18, 2015 4:41pm
Quoting triger88990
Are this their normal spreads during this time of the day? this is from a demo account but I'm curious how they are on their live accounts, isn't supposed their spread to be lowered now that they have introduced commissions? Thanks. {image}
you should see normal spreads around 7-8pm EST US Time, not sure what time that is in your time zone. Usually Asian sessions have higher spreads because of lower liquidity.
Trade what you see, not what you think!
  • #6,153
  • Jan 18, 2015 5:04pm Jan 18, 2015 5:04pm
Quoting zachster104
How many people are planning to keep their account with FXCM?
I'm out...
Chasing The Dream...
  • #6,154
  • Jan 18, 2015 6:37pm Jan 18, 2015 6:37pm
Sht happens. It's the traders responsibility. Read the fine print. Idiots trying to play sht tons of contracts with only $50 bucks but don't ask where the money is coming from. What part of "you can lose more than your initial investment" don't you understand ?

I've been with FXCM with years. They have been nothing but good to me. I'd be very sad if they went belly up. I am glad they're back and I have zero intentions of leaving them.
  • #6,155
  • Jan 18, 2015 7:37pm Jan 18, 2015 7:37pm
Quoting Cobra
{quote} Maybe it is because of the BS you just posted?
Possibly ... possibly ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #6,156
  • Jan 18, 2015 7:43pm Jan 18, 2015 7:43pm
Quoting cenetti
Sht happens. It's the traders responsibility. Read the fine print. Idiots trying to play sht tons of contracts with only $50 bucks but don't ask where the money is coming from. What part of "you can lose more than your initial investment" don't you understand ? I've been with FXCM with years. They have been nothing but good to me. I'd be very sad if they went belly up. I am glad they're back and I have zero intentions of leaving them.
I think this is what's confusing about the whole thing. Some people are saying negative accounts will be deleted, and you are saying "you can lose more than your initial investment", and bitching people out about it. So FXCM needs to tell everyone.... are negative accounts deleted OR can you lose MORE than your initial investment? That's the true question.
  • #6,157
  • Jan 18, 2015 8:00pm Jan 18, 2015 8:00pm
Quoting cenetti
Sht happens. It's the traders responsibility. Read the fine print. Idiots trying to play sht tons of contracts with only $50 bucks but don't ask where the money is coming from. What part of "you can lose more than your initial investment" don't you understand ? I've been with FXCM with years. They have been nothing but good to me. I'd be very sad if they went belly up. I am glad they're back and I have zero intentions of leaving them.
Like I said: great platform that I'm comfortable with; most of the slippage has been in my favor with them. Plus, what few problems I did have with a trade or two were processed fairly quickly by their audit team and to my satisfaction. I've looked at a bunch of different platforms (everyone's MT4 GUI is the same, naturally), and I still think theirs is by far the best and most intuitive GUI that's out there -- just my opinion.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #6,158
  • Jan 18, 2015 8:04pm Jan 18, 2015 8:04pm
Quoting TheGrind
{quote} I think this is what's confusing about the whole thing. Some people are saying negative accounts will be deleted, and you are saying "you can lose more than your initial investment", and bitching people out about it. So FXCM needs to tell everyone.... are negative accounts deleted OR can you lose MORE than your initial investment? That's the true question.
Margin/leverage trading means you're BORROWING money from your broker to open the position. FXCM's disclaimer says "The possibility exists that you could sustain a loss of some or all of your deposited funds" doesn't say "more". So I imagine they'll bring people's accounts to '0'. But you may be with a broker who doesn't give you any guarantees. I think this event should make people open their eyes and read the 'fine print' before they sign the dotted line.

All I see bunch of children running around like headless chickens blaming everybody but themselves. More importantly they have NO idea what they're doing. FXCM takes a loan to make people's accounts whole again and they're the 'bad guys'... yeah ok.
  • #6,159
  • Jan 18, 2015 8:11pm Jan 18, 2015 8:11pm
Quoting triger88990
Are this their normal spreads during this time of the day? this is from a demo account but I'm curious how they are on their live accounts, isn't supposed their spread to be lowered now that they have introduced commissions? Thanks. {image}
I'm showing pretty typical spreads in early Asian session trading:

Attached Image
Fireworks are fun ... as long as you don't blow your fingers off.
  • #6,160
  • Jan 18, 2015 8:29pm Jan 18, 2015 8:29pm
Quoting ZebraSquirl
{quote} I'm showing pretty typical spreads in early Asian session trading: {image}
usually gets even tighter during start of london session.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 123 KB
Trade what you see, not what you think!
10 traders viewing now