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  • #7,101
  • Feb 12, 2015 7:49pm Feb 12, 2015 7:49pm
Quoting Carrionx
Hi Jason FXCM AUS really need to offer GBP accounts for AUS/NZ residents. It's like having a salary in Britain and living in AUS/NZ. Why would anyone want to have an account in lower currency (unless they have no money for initial deposit) , it's more work for less Tried opening account with FXCM UK, points me to FXCM AUS, great. Broker search continues..
Quoting mitch77
{quote} I maybe wrong but this doesn't make sense! Why not open an account with a larger deposit ie $10000 NZ instead of 5000 GB Wouldn't it be better to have your account in the curreny that you use where you live. If you live and work in NZ and pay with NZ dollars why trade with a GBP account? Essentially you have a GBP/NZD position open constantly all be it without leverage.
Quoting Carrionx
{quote} Why doesn't it make sense? You have account of 10k for example, you risk say 2% per trade, you earn say 30% per month, you get 13k. You have 3k profit if you have NZD account and 6k profit if you have GBP account. In essence, you have to trade two months on NZD account vs one month for GBP account. What doesn't make sense is your writing you live in NZ, you pay in NZD, that's why it's called forex, it's easy to convert money, why restrict yourself?
Hi Carrionx,

Mitch is correct. You're at no disadvantage from a P/L standpoint by trading in an NZD account as opposed to trading in a GBP account. For the equivalent sized trade, you will make or lose the exact same amount of money per pip in either account type. The only difference is that in an NZD account, your profits and losses will be displayed in NZD. The current GBP/NZD exchange rate is about NZ$2.07 which means you would make or lose about NZ$2.07 in your NZD account for every £1 someone would make or lose in a GBP account for an equivalent sized trade.

You can confirm this by looking at the Pip Cost column in your Simple Dealing Rates window. It will show you the amount you would make or lose per pip in NZD which is larger than the Pip Cost in GBP that a trader with a GBP account would see to account for the exchange rate difference between these two currencies.
  • #7,102
  • Feb 12, 2015 7:55pm Feb 12, 2015 7:55pm
Quoting qp2
{quote} Hi Jason The time it happened was 1.15 market time and I have just had at 10:38 local time a requote which I accepted but did not get filled I have never had a requote from FXCM ever before then an invalad price I got my order filled second time arround went to close 1/2 got another invalid price then got a new order ticket up which in the heat of the moment I did not realise defauklted to normal position size and managed to close all the position when only 1/2 was required. I have increased the deviation to 3000 all this is on the Beeksfx...
FXCM does not requote clients, but there is an issue with the MT4 platform itself in that it will automatically generate a requote message if you place an order on inverted spreads (when the bid price is higher than the ask price, which is possible with FXCM). Note that this error would not occur on our Trading Station platform. Your account login details will allow you to access both MT4 and Trading Station. It seems that you only place orders manually, not using an EA. Have you tried placing orders using Trading Station? That might address the issues you've been having.
  • #7,103
  • Feb 12, 2015 8:43pm Feb 12, 2015 8:43pm
Quoting Jason Rogers
{quote} FXCM does not requote clients, but there is an issue with the MT4 platform itself in that it will automatically generate a requote message if you place an order on inverted spreads (when the bid price is higher than the ask price, which is possible with FXCM). Note that this error would not occur on our Trading Station platform. Your account login details will allow you to access both MT4 and Trading Station. It seems that you only place orders manually, not using an EA. Have you tried placing orders using Trading Station? That might address...
Hi Jason,

I had been thinking about that using trading station as an "order ticket" and MT4 as a visual and graphic reference.
Having had no idea that I could log into trade station I will now give it a go, many thanks for your reply I will keep you posted.
Yes I only place orders manually.

Regards Allan.
  • #7,104
  • Feb 12, 2015 9:45pm Feb 12, 2015 9:45pm
Hi, I asked this question elsewhere but I'll ask here once more since I'm using FXCM.

Basically I placed a short order on a pair yesterday. Today I placed another short order on the same pair. I would like to set a separate take-profit level for yesterday's order (+80 pips for example) and leave today's order running for a larger tp level. It seems every time I try to do this the take-profit line moves for both orders at the same time even though I selected only yesterday's order. Is there a way to assign different tp levels for different orders but on the same pair? I realize there is a rule that says the oldest order has to be closed first which is why I'm trying to set a larger tp level for the newest order.
Thank you for your help
  • #7,105
  • Feb 13, 2015 12:57am Feb 13, 2015 12:57am
Quoting Trenderer
Hi, I asked this question elsewhere but I'll ask here once more since I'm using FXCM. Basically I placed a short order on a pair yesterday. Today I placed another short order on the same pair. I would like to set a separate take-profit level for yesterday's order (+80 pips for example) and leave today's order running for a larger tp level. It seems every time I try to do this the take-profit line moves for both orders at the same time even though I selected only yesterday's order. Is there a way to assign different tp levels for different orders...
Just enter the desired TP in that trade order. Dragging the lines sets the same level if you have multiple positions open. So, set the TP/SL levels on each trade by manually modifying those, DON't use the drag lines method.
newzTrader
  • #7,106
  • Feb 13, 2015 5:50am Feb 13, 2015 5:50am
Quoting Jason Rogers
{quote} {quote} {quote} Hi Carrionx, Mitch is correct. You're at no disadvantage from a P/L standpoint by trading in an NZD account as opposed to trading in a GBP account. For the equivalent sized trade, you will make or lose the exact same amount of money per pip in either account type. The only difference is that in an NZD account, your profits and losses will be displayed in NZD. The current GBP/NZD exchange rate is about NZ$2.07 which means you would make or lose about NZ$2.07 in your NZD account for every 1 someone would make or lose in a GBP...
Wait a second, my whole point is about risk/reward. if I want to risk $200 on 10k account (2% of account size), on NZD account I would be risking 4% ($400) per trade in order to get the same return compared to GBP account. How's that not a disadvantage?
  • #7,107
  • Edited 8:13am Feb 13, 2015 7:44am | Edited 8:13am
Hi, Jason, I'd like to ask for some improvements to MarketScope that could benefit us as traders. I've submitted some suggestions at fxcodebase.com before, but none of them were addressed.

For example:

- Add a Magnet to the ruler tool. ( Like other tools have)
- Modify Andrews Pitchfork tool to let user specify a drawing mode: Andrews, Schiff or Mod Schiff.
- Add to Andrews Pitchfork the ability to draw quartiles, sliding parallels, and parallels at specified percentage form the center.
- Modify the Rectangle tool to add the ability to extend it n candlestick to the future.

Also, It would be very useful to have these improvements too:

- MT4 has a tool called "Fixed chart position" that lets the user zoom in and zoom out at specific time by changing TFs. It's very useful for MTF Analysis.
In Marketscope, everytime you change to a different TF you have to scroll back to your zone of interest.

- Make available all FXCM Historic Data. Trading Station is a nightmare for historical analysis. In Marketscope you have access to a very limited amount of bars. So if you need to analyze in LTF what happened one year ago, you just can't.

I have a demo with Alpari NZ that I have to use when I want to analyze price levels in LTF from months and years ago. They have EURUSD m1 (1 minute) data since 1999, xauusd from 2004, and so on.

Disk space is not an issue. Data is what we need. Large amounts of it.

By the way, is there any chance that FXCM integrates TradingView as web platform? I've tried TSWEB and it's painful. Honestly, in my limited experience, TradingView is the best charting software I've used.
  • #7,108
  • Feb 13, 2015 8:26am Feb 13, 2015 8:26am
Quoting Jason Rogers
FXCM does not requote clients, but there is an issue with the MT4 platform itself in that it will automatically generate a requote message if you place an order on inverted spreads (when the bid price is higher than the ask price, which is possible with FXCM). .
//-----

hey jason.... an update for you and the tech department....... you might remember it me who posted the picture of that a while back and mentioned the second pop up box offering the new prices..... you sent it to the tech dept.....

the second box only stays up a very brief time..... i managed to get both a screenshot and click 'ok' which placed the order at the new prices..... so the second popup works, which is an asset.....

it was back on 1/15 when all hell was busting loose...... did not post it then..... we both had more important things on our minds.....

as mentioned before, the second popup offering new prices is a step saver for scalpers.....h
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to trade and code, keep both simple... no call to impress....h
  • #7,109
  • Feb 13, 2015 10:14am Feb 13, 2015 10:14am
Hi,

I am a FXCM Canada i.e Friedberg Direct Client. I have been trading with FXCM US but since last four months I have moved my account with FXCM Canada. Recently around 3-4 days ago I have notice that whenever I place a trade a commission is being charged for placing a trade. There were no commission charged when I was trading with FXCM US.

Can anybody in the forum help me on this

When did FXCM started charging commissions on Forex trades?
Are other Forex brokers also charging commission for placing trades?.
Also recommend some good Forex brokers in Canada that do not charge commissions on Forex.

I will very thankful.

AMan
  • #7,110
  • Feb 13, 2015 10:30am Feb 13, 2015 10:30am
Quoting Neir
Hi, I am a FXCM Canada i.e Friedberg Direct Client. I have been trading with FXCM US but since last four months I have moved my account with FXCM Canada. Recently around 3-4 days ago I have notice that whenever I place a trade a commission is being charged for placing a trade. There were no commission charged when I was trading with FXCM US. Can anybody in the forum help me on this When did FXCM started charging commissions on Forex trades? Are other Forex brokers also charging commission for placing trades?. Also recommend some good Forex brokers...
What they are saying is you are paying raw spreads. In other words you pay the same spread as they do to their liquidity provider. They make money by charging a commission.
  • #7,111
  • Feb 13, 2015 10:37am Feb 13, 2015 10:37am
Thanks Claudia1 for sparing a time to reply.

aren't other brokers quoting the prices with raw spreads. Secondly commission they charge is on daily basis longer the position is held the higher the commission charged on incremental basis . To me it seems like changing the rules after the game has started.
  • #7,112
  • Feb 13, 2015 10:54am Feb 13, 2015 10:54am
From their site.

'Friedberg Direct has introduced a new spreads-plus-commission pricing model. Experience the difference today: For new clients and existing clients your account will only be subject to the new commission after Friedberg Direct has notified you as such.
Friedberg Direct offers a transparent pricing model, made up of low, competitive commissions and super-tight spreads. You trade on the direct quotes we receive from our liquidity providers with no hidden markups, and our transparent commissions now start as low as C$0.05 per 1K lot.
COMMISSIONS
Friedberg Direct charges a low, competitive commission to trade forex. Unlike many other forex providers, we do not markup the spreads, so there are no additional charges or hidden fees when trading with Friedberg Direct. Commissions are based on instrument and trade size, and start as little as C$0.05 per 1K lot.'

The commission is their charge for handling your order. Many brokers make money by inreasing spreads no commissions.
  • #7,113
  • Feb 13, 2015 10:54am Feb 13, 2015 10:54am
Quoting Carrionx
{quote} Wait a second, my whole point is about risk/reward. if I want to risk $200 on 10k account (2% of account size), on NZD account I would be risking 4% ($400) per trade in order to get the same return compared to GBP account. How's that not a disadvantage?
Come on now, you surely are trolling.
It is the same if you live in NZ and earn money in NZD.
  • #7,114
  • Feb 14, 2015 3:18am Feb 14, 2015 3:18am
Why I short FXCM, worth a minute of your attention...

http://investing.covestor.com/2015/0...ge-broker-fxcm
  • #7,115
  • Feb 14, 2015 6:45am Feb 14, 2015 6:45am
Quoting adi17
Why I short FXCM, worth a minute of your attention... http://investing.covestor.com/2015/0...ge-broker-fxcm
FXCM had a bad deal with there LP, now there paying a heavy price
  • #7,116
  • Feb 14, 2015 6:55am Feb 14, 2015 6:55am
Quoting PoundTrader
{quote}FXCM had a bad deal with there LP, now there paying a heavy price
Yes, with interest rates so low, why would they take such a burdensome deal? Why no loan from a major bank? Why no other offers? Makes you think the real situation isn't very promising despite the positive "spin" FXCM is putting on it's recent trader activity. With accounts not segregated, I can't see anyone opening a sizable account under the current "cloudy" conditions.
  • #7,117
  • Feb 14, 2015 9:10am Feb 14, 2015 9:10am
Quoting srt
{quote} Yes, with interest rates so low, why would they take such a burdensome deal? Why no loan from a major bank? Why no other offers? Makes you think the real situation isn't very promising despite the positive "spin" FXCM is putting on it's recent trader activity. With accounts not segregated, I can't see anyone opening a sizable account under the current "cloudy" conditions.
i was talking about there Liquidity Providers
  • #7,118
  • Feb 14, 2015 9:46am Feb 14, 2015 9:46am
Quoting PoundTrader
{quote}i was talking about there Liquidity Providers
That bad deal led to the bad deal with Leucadia for financing.
Apparently the deal with the LPs placed the risk on FXCM rather than the LPs. FXCM claims they're not profiting on the trade result of their customers so only making money on the commission. So if they're not making money whether their customers win or lose, why was the risk on them when the swiss mess hit? Why would they have any currency exposure at all if they're only matching the buyer to the seller?
  • #7,119
  • Feb 14, 2015 1:57pm Feb 14, 2015 1:57pm
if shareholders are in soup, how about account holders? lol
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newzTrader
  • #7,120
  • Feb 15, 2015 7:58am Feb 15, 2015 7:58am
Quoting srt
{quote} That bad deal led to the bad deal with Leucadia for financing. Apparently the deal with the LPs placed the risk on FXCM rather than the LPs. FXCM claims they're not profiting on the trade result of their customers so only making money on the commission. So if they're not making money whether their customers win or lose, why was the risk on them when the swiss mess hit? Why would they have any currency exposure at all if they're only matching the buyer to the seller?
who knows there is a simple solutions, if you don't like what you see you can always leave instead of complaining, thats the way i look at it.
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