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  • #7,361
  • Edited 12:16pm Mar 13, 2015 12:01pm | Edited 12:16pm
poll:

would you trade with a dealing desk that
a) has no debt
b) has to pay $300 mil - $12 mil = $288 mil

which one do you think will take your money away quicker?
i know which one.
but no thanks (and no offense)!

i'm under 20k as i reduced my stake because of your rotten balance sheet .
why should i be stupid to increase again my account to a level i'm not comfortable with just to be able to trade ndd (with you)?

please have in mind that all my reviews on this thread were positive in respect to fxcm being a ndd model.
i cannot delete them. but this is what i would do.

good bye everyone. this is my last post here!

i have no business with fxcm from this moment (closed my account as i said).
  • #7,362
  • Mar 13, 2015 12:17pm Mar 13, 2015 12:17pm
Quoting heph
{quote} jason, can you comment this paragraph:"In order to optimize its RPM, FXCM Inc (NYSE:FXCM) has announced that it will be returning the dealing desk model for clients with equity below $20,000"?
Yes, it means they are going to go back to their roots...... ripping people off left and right. But the regulators are more concerned about lowering leverage, FIFO and no hedging.
  • #7,363
  • Mar 13, 2015 12:58pm Mar 13, 2015 12:58pm
I'm still waiting for confirmation but, when I get the email telling me that I'm being put on a dealing desk execution model (especially a desperate dealing desk) - that'll be what leads me to close my account.
  • #7,364
  • Mar 13, 2015 1:27pm Mar 13, 2015 1:27pm
Quoting TitoBellicus
Hey Jason Rogers, can you explain me something? WHAT THE HELL HAPPENED HERE?!! You know, I'm a little confused... I tried to close some positions over and over again, but I think FXCM did not agree with that... https://www.youtube.com/watch?v=PWq8QLPbIbw

Man, this thread is going be fun to watch..
  • #7,365
  • Mar 13, 2015 2:18pm Mar 13, 2015 2:18pm
Quoting heph
{quote} jason, can you comment this paragraph:"In order to optimize its RPM, FXCM Inc (NYSE:FXCM) has announced that it will be returning the dealing desk model for clients with equity below $20,000"?
Quoting heph
now you're more than likely to have already returned to your dealing desk (or doing it sporadically).
Quoting heph
why should i be stupid to increase again my account to a level i'm not comfortable with just to be able to trade ndd (with you)? please have in mind that all my reviews on this thread were positive in respect to fxcm being a ndd model. i cannot delete them. but this is what i would do. good bye everyone. this is my last post here! i have no business with fxcm from this moment (closed my account as i said).
Hi Heph,

We value you as a client and would hate to see you leave over a misunderstanding. To clarify, FXCM will be offering traders with a balance less than 20k the option of dealing desk execution, if they choose it. FXCM firmly believes in our NDD execution model and will continue to offer it. However, in specific jurisdictions (primarily emerging markets) where clients are asking for higher leverage, we will also offer DD as choice in addition to NDD. We still expect the majority of traders to continue to choose our NDD model.
  • #7,366
  • Mar 13, 2015 2:25pm Mar 13, 2015 2:25pm
Quoting Jason Rogers
{quote} {quote} {quote} Hi Heph, We value you as a client and would hate to see you leave over a misunderstanding. To clarify, FXCM will be offering traders with a balance less than 20k the option of dealing desk execution, if they choose it. FXCM firmly believes in our NDD execution model and will continue to offer it. However, in specific jurisdictions (primarily emerging markets) where clients are asking for higher leverage, we will also offer DD as choice in addition to NDD. We still expect the majority of traders to continue to choose our NDD...
I just listened to yesterday's conference call. Doubtful that many have. I get FXCM doing that. At least we'll have a choice. The allure of higher leverage to inexperienced traders with big dreams can translate into easy money under a dealing desk model.



I ain't gotta problem with that, lol.
  • #7,367
  • Mar 13, 2015 3:39pm Mar 13, 2015 3:39pm
Quoting Bilstein
{quote} I just listened to yesterday's conference call. Doubtful that many have. I get FXCM doing that. At least we'll have a choice.
Thanks Bilstein

Speaking of yesterday's earnings call, I mentioned previously that FXCM has spent over $250 million dollars in the past few years making strategic acquisitions building up our non-core businesses, mainly on the institutional side. Our goal is to repay the Leucadia loan by selling those non-core assets. I can now provide more details on this. Below is a slide from the March 13 public presentation for our Q4 2014 financials and February 2015 operating metrics.

http://i.imgur.com/SjOCUih.png

  • #7,368
  • Mar 13, 2015 6:23pm Mar 13, 2015 6:23pm
So, if the stealing desk model hasn't been brought back as of yet, what is the explanation of the price spikes 125 pips greater than any other broker? I think FXCM is up to it's old tricks again.. It wasn't one random event, just scroll through the last few pages, there are numerous examples. It appears clients who thought they were trading on NDD really weren't.
  • #7,369
  • Mar 13, 2015 6:29pm Mar 13, 2015 6:29pm
Hi [email protected] relentlessly emphasize the NDD execution model. Can you please tell me who the counterparty is on CFD products?
  • #7,370
  • Mar 13, 2015 6:32pm Mar 13, 2015 6:32pm
Quoting Jason Rogers
{quote} {quote} {quote} Hi Heph, We value you as a client and would hate to see you leave over a misunderstanding. To clarify, FXCM will be offering traders with a balance less than 20k the option of dealing desk execution, if they choose it. FXCM firmly believes in our NDD execution model and will continue to offer it. However, in specific jurisdictions (primarily emerging markets) where clients are asking for higher leverage, we will also offer DD as choice in addition to NDD. We still expect the majority of traders to continue to choose our NDD...
Hi Jason. I understand what you said, but all those spikes are telling that FXCM seems to be using a DD model in the affected (or even all) accounts.
  • #7,371
  • Mar 13, 2015 7:13pm Mar 13, 2015 7:13pm
The sad part FXCM engulfed FxOne such innovation left to die. I'm sure not many were familiar with Fxone but it was truly innovative. Now it will be sold off for scrap
There are those who know, and there are those who don't know.
  • #7,372
  • Mar 13, 2015 7:19pm Mar 13, 2015 7:19pm
Quoting Thebigmo
I downloaded metatrader from spot trader(coefx.com), its pretty good, does not fail on me. I am using FXCM demo. Yesterday i started a transaction on the eur/jpy. Ihad the stop loss at 149.99. Now the chart never made it to 149.99 but the FXCM chose to stop me at 149.99. I even downloaded some free FXCM charts from their website to see if the chart they have indicated the price touched 149.99 after i started my transaction. It did not. I staeted my transaction exactly 5 pm US central time(9pm GMT). Another transaction stopped me at 149.98, also...
The first post on this thread from 2006. 8 years ago, is everybody wrong or are fxcm crooks.
  • #7,373
  • Mar 13, 2015 7:26pm Mar 13, 2015 7:26pm
Quoting TitoBellicus
Hey Jason Rogers, can you explain me something? WHAT THE HELL HAPPENED HERE?!! You know, I'm a little confused... I tried to close some positions over and over again, but I think FXCM did not agree with that... https://www.youtube.com/watch?v=PWq8QLPbIbw
You will have maximum deviation is set to 10 pips ticked. You could increase this or just deselect it, though this may cause slippage in a fast moving market. Click modify order and you should see what I talking about.
  • #7,374
  • Mar 14, 2015 2:09am Mar 14, 2015 2:09am
Quoting TitoBellicus
Hey Jason Rogers, can you explain me something? WHAT THE HELL HAPPENED HERE?!! You know, I'm a little confused... I tried to close some positions over and over again, but I think FXCM did not agree with that... https://www.youtube.com/watch?v=PWq8QLPbIbw
Don't ya just hate that sound? I actually muted my speakers. Didn't help the trade execution of course, but at least I didn't have to listen to it.

BTW, if you're looking for an explanation from Jason? Don't bother. You won't get one and if you do, it'll be nothing but a bunch of BS. Just like the ridiculous SPIKES everyone's been asking about. Not a peep about it from him here. ... lol
Ghost Rider - WWTBMD?
  • #7,375
  • Mar 14, 2015 7:06am Mar 14, 2015 7:06am
Albchr do you use FXCM Active trader? I typed it in the search bar and your name popped up. I opened an account with FXCM recently and they have emailed me about Active Trader wanting to chat. From their website there doesn't appear to be any advantages of substance, they aren't offering lower commissions or anything like that are they?
  • #7,376
  • Mar 14, 2015 8:39am Mar 14, 2015 8:39am
Quoting Jason Rogers
{quote} {quote} {quote} Hi Heph, We value you as a client and would hate to see you leave over a misunderstanding. To clarify, FXCM will be offering traders with a balance less than 20k the option of dealing desk execution, if they choose it. FXCM firmly believes in our NDD execution model and will continue to offer it. However, in specific jurisdictions (primarily emerging markets) where clients are asking for higher leverage, we will also offer DD as choice in addition to NDD. We still expect the majority of traders to continue to choose our NDD...
Jason

The fact that FXCM are offering the option of DD means that there must be some advantage for choosing this either for the trader or FXCM. What is the reasoning and advantages in FXCM now offering this option ? (for trader and FXCM)
  • #7,377
  • Mar 14, 2015 10:14am Mar 14, 2015 10:14am
Quoting Deskpro
{quote} Jason The fact that FXCM are offering the option of DD means that there must be some advantage for choosing this either for the trader or FXCM. What is the reasoning and advantages in FXCM now offering this option ? (for trader and FXCM)
The stealing desk model has absolutely no advantage to the trader, only the broker. Trading costs are much higher and THEY WILL manipulate your trades. I believe they are manipulating trades on what they are claiming as NDD as well. They've been cheating since they came into existence.
  • #7,378
  • Mar 14, 2015 11:17am Mar 14, 2015 11:17am
Quoting BirminghamUK
Albchr do you use FXCM Active trader? I typed it in the search bar and your name popped up. I opened an account with FXCM recently and they have emailed me about Active Trader wanting to chat. From their website there doesn't appear to be any advantages of substance, they aren't offering lower commissions or anything like that are they?
Hi Birmingham, I don't use them for anything (except a good laugh). But, you typed what? where? and my name came up? Hopefully only my username here at FF? Not that anything about me should have come up at all. I've never even heard of Active Trader.
Ghost Rider - WWTBMD?
  • #7,379
  • Mar 14, 2015 12:18pm Mar 14, 2015 12:18pm
No worries I saw your username in one of the many search results it churns out. Don't think I will follow it up, judging by the threads I saw there is little to be gained.
  • #7,380
  • Mar 14, 2015 1:40pm Mar 14, 2015 1:40pm
Quoting albchr
{quote} Hi Birmingham, I don't use them for anything (except a good laugh). But, you typed what? where? and my name came up? Hopefully only my username here at FF? Not that anything about me should have come up at all. I've never even heard of Active Trader.
Accounts for any traders that survived the swissy crash & agreed not to take FXCM to court
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