FXCM Discussion | Page 332 | 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

  • #6,621
  • Jan 25, 2015 12:59pm Jan 25, 2015 12:59pm
Quoting mry2001
{quote} Not true, Of course FXCM profit from traders' loss. Do not be idiot. The problem is caused by fxcm itself because they are more aggressive in making profit. lol Before the event, their lousy analyst are promoting the idea of long usdchf/eurchf. I am sure that there are Naive traders follows their recommendation and get burned this time. FXCM lost more than others simply because they have more traders Bet on the 1.2 floor with high leverage. It is a very sad story. FXCM can not profit from negative balance but they can profit from traders'...
Can you please explain the mechanism by which you speculate FXCM would have made a profit from a trader's loss? If they were trading against their clients and bought a franc when they sold a franc they would have at least made some profit off of this since say the client loses $100 and they proportionally make $100 on the raw valuation of the currency, but the client only had $70 in their account and had a negative balance of $30. They still would have made $100 - $30 = $70 in profit. Even if they somehow had nothing in their account, $0, when they had exposure and lost a full $100 off of the move, FXCM would have broken even. So I'm not really following the logic in your argument, although I'm open to being wrong here.

Quoting jmn5611
{quote} I don't understand how FXCM would do this either. It seems to me that their contract was clear. Now they seem to be going back on it. I think this is the beginning of the end for FXCM. They might come out as another company but the present name is going to die a slow death. Glad I went in another direction.
Maybe, maybe not on the long term outlook. The contract is still in effect however and has not been breached in any way from what I've read on these forums.
  • #6,622
  • Edited 2:09pm Jan 25, 2015 1:55pm | Edited 2:09pm
Quoting Profit Daily
..... They take us for a bunch of idiots, and the fact is, those that buy into their bullshit, really are idiots.
Ok, now this is fun, so let me expand here. You may have read TaH post page above about Thieves of Wall street. Since you seem to totally misunderstood market where you are, let me use an analogy of an ocean, which I find very suitable here. When it comes to any type of trading, the most important part is liquidity. The more liquid market, the more cash, the harder to manipulate. There go all these silly fools trading unliquid CHF and now crying. Backbone of FX market is interbank exchange of liquidity. Banks create these little markets, called OTC, where they trade between themselves and huge liquidity is flowing through. Any trespasser will be robbed and shot. Since the more liquidity, the more cash, they have hired some sirens, to lurk fisherman into the wild waters of cash. It would be perfect for those thieves to have all retail FX clients at offshore - because thats where the ocean is wildest. It is such a wild ocean of liquidity it can crush you within a second no matter how hedged you are or where is your SL. If not regulated, cash flow can be so twisted they just delete you in blink of an eye. It is due to the nature of OTC market. You dont know a shit of what is going on in there. Some fisherman survive, but only those who sail close to the shore.
You say they own NFA? I say they own all offshore brokers.
Ask yourself this question: If you are a fkin rich Wall Street bastard and want to get some cash. Is it easier to bribe politicians and try to controll NFA, or simply start an offshore company and pay a few bucks to advertise on internet and lurk noobs?
T
"I know one thing, that I know nothing." Sokrates
  • #6,623
  • Jan 25, 2015 2:29pm Jan 25, 2015 2:29pm
Quoting Tom_D_Trader
{quote} Ok, now this is fun, so let me expand here. You may have read TaH post page above about Thieves of Wall street. Since you seem to totally misunderstood market where you are, let me use an analogy of an ocean, which I find very suitable here. When it comes to any type of trading, the most important part is liquidity. The more liquid market, the more cash, the harder to manipulate. There go all these silly fools trading unliquid CHF and now crying. Backbone of FX market is interbank exchange of liquidity. Banks create these little markets,...
He he .. I knew you'd have a swing at this one Tom. (Gotta love the wisdom here folks). Home run.

Happy New Year to you and yours sir. Good to see you.
Ghost Rider - WWTBMD?
  • #6,624
  • Jan 25, 2015 3:43pm Jan 25, 2015 3:43pm
Quoting Tom_D_Trader
{quote} Ok, now this is fun, so let me expand here. You may have read TaH post page above about Thieves of Wall street. Since you seem to totally misunderstood market where you are, let me use an analogy of an ocean, which I find very suitable here. When it comes to any type of trading, the most important part is liquidity. The more liquid market, the more cash, the harder to manipulate. There go all these silly fools trading unliquid CHF and now crying. Backbone of FX market is interbank exchange of liquidity. Banks create these little markets,...
The only point I am trying to make is you are no better off or worse off trading offshore than you are trading with an NFA regulated US broker. So why not go where the trading conditions are better and at worse case scenario, if broker disappears, you lose 10% of what you otherwise would have. I've been with my broker a year and a half, I've watched price go within .001 of my stop and not hit, I withdrawal twice monthly and it's in my bank next day. I can scale in and out of positions with no FIFO, when I scale into winners I can do so with much higher leverage. You cannot name a broker in the US I would be better off trading with.
  • #6,625
  • Jan 25, 2015 4:03pm Jan 25, 2015 4:03pm
look at the Kiwi spread!!!! nice!!!
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 72 KB
Trade what you see, not what you think!
  • #6,626
  • Jan 25, 2015 4:55pm Jan 25, 2015 4:55pm
Now we have new margin requirements to all clients - US and non US. It's not that bothersome, but I would like to have the option, since I am not a US citizen.
What other brokers are you guys looking at / have experience with? As a non-US citizen, I am looking at these:

- FXPro - not sure if UK will impose new limits as well, but there is Cyprus version as well?
- Dukascopy - Heard good things, have 50:1 as well(?), kind of complicated to gather what their offering and fee structure is from their site (Europe vs Swiss account?)
- Cityindex.co.uk - CFD
- Oanda - MM, crossed them out
  • #6,627
  • Jan 25, 2015 7:56pm Jan 25, 2015 7:56pm
Quoting cogs
Funny, haven't seen 'Jason Rogers' around here for a while
Not saying that he isn't reliant for a portion of his income coming from trading Forex, but ultimately his job is that of most standard and typical 9-5ers.

After Fridays closing bell, this forum does not exist, nor does his title as Jason Rogers.

It's the rest of the schleps needing some resolve on their account situations and want to study up on how to, not continue losing money that need take part of the factory on the weekends.

You aren't family...
Not even friends.

You are a number, like any other subscriber to the FXCM services.

Don't kid yourself...he ain't answering the tough questions, because he ain't allowed to.

The bullshit he is passed to feed to this thread and any other that question FXCM are generic statements that are effectively meaningless.

For all intents and purposes...

You might as well,
Press 1 for a company directory,
Press 2 for an update on your account,
Press 3 for their hours of operation,
or
Press 4 to hear a duck quack.

Hey Jason...amiright?

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #6,628
  • Jan 25, 2015 9:07pm Jan 25, 2015 9:07pm
Quoting Magix
Hey Jason...amiright?

*crickets*
"Risk comes from not knowing what you're doing." - Warren Buffett
  • #6,629
  • Jan 25, 2015 9:56pm Jan 25, 2015 9:56pm
Quoting Spili
{quote} *crickets*
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #6,630
  • Jan 25, 2015 10:49pm Jan 25, 2015 10:49pm
Quoting Magix
{quote}
Lol, was agreeing with you. Houdini doesn't work weekends, and yes, you are just a 'nother number.
"Risk comes from not knowing what you're doing." - Warren Buffett
  • #6,631
  • Jan 25, 2015 11:55pm Jan 25, 2015 11:55pm
Quoting OMGtrader
look at the Kiwi spread!!!! nice!!! {image}
only a moron will post such a thing with out undertanding whats goin on
  • #6,632
  • Jan 26, 2015 12:23am Jan 26, 2015 12:23am
Quoting KeyframeHR
Now we have new margin requirements to all clients - US and non US. It's not that bothersome, but I would like to have the option, since I am not a US citizen. What other brokers are you guys looking at / have experience with? As a non-US citizen, I am looking at these: - FXPro - not sure if UK will impose new limits as well, but there is Cyprus version as well? - Dukascopy - Heard good things, have 50:1 as well(?), kind of complicated to gather what their offering and fee structure is from their site (Europe vs Swiss account?) - Cityindex.co.uk...
You may have a look also on xtb uk (good leverage good spread, ecn/stp) and activtrades uk (not sure if they are really stp but good spread good leverage, however unconfirmed rumors that they may as well switch to 50:1 soon)
  • #6,633
  • Jan 26, 2015 1:09am Jan 26, 2015 1:09am
Yeah, go on guys, let's go for 1:1000000 lever, $100000 sign-up bonus, -5 pips spread and Thai massage once a fortnight, why not... :-/
  • #6,634
  • Jan 26, 2015 1:42am Jan 26, 2015 1:42am
Quoting PoundTrader
{quote}only a moron will post such a thing with out undertanding whats goin on
YOU DO HAVE A POINT... the low impact news release of Credit Card Spending Y/Y (3 hours away from is post) is SOOOO important it could rock the market!!!!!
  • #6,635
  • Jan 26, 2015 1:43am Jan 26, 2015 1:43am
Quoting TheGrind
{quote} YOU DO HAVE A POINT... the low impact news release of Credit Card Spending Y/Y (3 hours away from is post) is SOOOO important it could rock the market!!!!!
forgot these.... which you seem to like....
  • #6,636
  • Jan 26, 2015 5:25am Jan 26, 2015 5:25am
Quoting PoundTrader
{quote}only a moron will post such a thing with out undertanding whats goin on
i guess some people don't have any sense of humor either...
Trade what you see, not what you think!
  • #6,637
  • Jan 26, 2015 6:47am Jan 26, 2015 6:47am
Quoting xy76
Yeah, go on guys, let's go for 1:1000000 lever, $100000 sign-up bonus, -5 pips spread and Thai massage once a fortnight, why not... :-/
I think the Rub n Tug would go a long way in securing business in this industry...

Most will still lose money, but at least come out with a "Happy Ending".

I will mention this to the Nigerian Royals on my email list...solid!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #6,638
  • Jan 26, 2015 6:58am Jan 26, 2015 6:58am
Quoting Magix
{quote} I think the Rub n Tug would go a long way in securing business in this industry... Most will still lose money, but at least come out with a "Happy Ending". I will mention this to the Nigerian Royals on my email list...solid!
I would be careful, heard that this Nigerian Royal FX brokerage is even more innovative. They offer BJ as a sign up bonus, with unprofitable clients taking the other side of the trade.
  • #6,639
  • Jan 26, 2015 7:02am Jan 26, 2015 7:02am
Quoting xy76
{quote} I would be careful, heard that this Nigerian Royal FX brokerage is even more innovative. They offer BJ as a sign up bonus, with unprofitable clients taking the other side of the trade.
BJ = Bitcoin/Yen, in case anyone wonders;-)
  • #6,640
  • Jan 26, 2015 7:20am Jan 26, 2015 7:20am
Quoting xy76
{quote} BJ = Bitcoin/Yen, in case anyone wonders;-)
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
8 traders viewing now