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  • #7,441
  • Mar 19, 2015 9:10pm Mar 19, 2015 9:10pm
Quoting Jason Rogers
{quote} Hi Surferncbad, While I can't investigate individual trades here on the forum, the Trade Services Team exists for precisely this purpose. If you have questions about the execution of any trade on your live account, you can file a trade inquiry. The Trade Services Team can then investigate the trade for you in detail, and if there was an error in our execution that negatively impacted your trade, FXCM will make the appropriate correction to your account.
Jason,

So how long does it take for a trade inquiry to be addressed? As mentioned, I have several open inquiries that have been open for weeks with no response from FXCM. Is this standard practice?
  • #7,442
  • Mar 19, 2015 10:35pm Mar 19, 2015 10:35pm
Jason,

Please explain this FXCM spike that you won't see on any other platform. C'mon man, time to shoot straight!
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  • #7,443
  • Mar 20, 2015 3:46am Mar 20, 2015 3:46am
FXCM UK new negative balance policy waives first $50,000

LONDON, March 20, 2015 (GLOBE NEWSWIRE) Forex Capital Markets Limited (FXCM UK), today announced that it will be updating its Negative Balance Policy for new and existing clients in the near future. Existing clients should expect to receive more details about the updated policy in the coming weeks, which will include changes to the companys master trading agreement and notice of when such changes are to take effect. New clients should be sure to carefully review the terms of any trading agreement proposed during the account opening process to determine the appropriate policy then available.
The changes to the Negative Balance Policy will include the following, subject always to the terms and conditions provided in the clients master trading agreement:
FXCM Updates Provision in Master Trading Agreement: Clients subject to the Negative Balance Policy who incur negative balances in excess of US $50,000 (determined by aggregating all of the clients negative balances across all accounts held byFXCM and any of its affiliate(s), incurred over a 24 hour period of time) will be responsible for and owe FXCM the value of the total negative balance above US $50,000, regardless of market conditions. Subject to certain exceptions, FXCM will waive the first US$50,000 of a clients total negative balance (determined by aggregating all of the clients negative balances across all accounts held by the FXCM group, incurred over a 24 hour period of time). This policy will apply to negative balances incurred during all market conditions, including exceptional market movements.
Specific Exceptions: Each clients master trading agreement will detail all of the specific exceptions to the Negative Balance Policy. Some of the key exceptions to this policy include the following: negative balances incurred by legal entities, omnibus relationships, white label relationships, Eligible Contract Participants, Eligible Counterparties and/or Professional Clients (as defined in the clients master trading agreement) and/or negative balances incurred on share CFD positions or products traded on an exchange.
FXCM is a global foreign exchange broker regulated in multiple jurisdictions. Regulated entities may require different notice periods for changes to the master trading agreement. As such, the effective date of the revised Negative Balance Policy will vary by jurisdiction in which an account is held. Clients will be notified accordingly. The revised Negative Balance Policy will only apply after the effective date and will not apply to negative balances incurred before such date. This release contains general statements regarding FXCMs planned revisions to its Negative Balance Policy, is for informational purposes only, and should not be considered to form part of any clients agreement with FXCM.
http://www.forexcrunch.com/fxcm-uk-n...s-first-50000/


Correct me if I am wrong but I think UK accounts in general are protected to up to 50000 pounds or so by one of their agencies. Anyhow, good to hear the FXCM news. Of course, US clients can't benefit because NFA is so concerned for our well being and won't let us open accounts with regulated off shore brokers. What a charade!
  • #7,444
  • Mar 20, 2015 3:59am Mar 20, 2015 3:59am
Quoting william17
FXCM UK new negative balance policy waives first $50,000 LONDON, March 20, 2015 (GLOBE NEWSWIRE) Forex Capital Markets Limited (FXCM UK), today announced that it will be updating its Negative Balance Policy for new and existing clients in the near future. Existing clients should expect to receive more details about the updated policy in the coming weeks, which will include changes to the companys master trading agreement and notice of when such changes are to take effect. New clients should be sure to carefully review the terms of any trading agreement...
They are basically putting in writing the obvious.

It would cost them too much to go after those pocket change accounts, so they write it down with a "any market condition" assurance and the small guy feels safer.

In other words....they are capitalizing on the obvious.
So, you think you have rights? LOL
  • #7,445
  • Mar 20, 2015 4:15am Mar 20, 2015 4:15am
Quoting ForexOracle
{quote} They are basically putting in writing the obvious. It would cost them too much to go after those pocket change accounts, so they write it down with a "any market condition" assurance and the small guy feels safer. In other words....they are capitalizing on the obvious.
May be true but if it gets the job done so be it. If the UK division gains some more trust and subsequently clients, this might benefit US traders as well. My logic goes like this- if FXCM UK does better, it will benefit the whole company thus alleviating its financial burden. Hopefully, it will be enough so that FXCM US stays afloat and competes with forex.com and the few others US brokers. More competition is better for us traders. Also, if the spikes are truly a result of stop hunting, the practice might stop if more money comes in from commissions from abroad.
Sorry if somebody already said it but regarding the spikes, FXCM should stop saying it is not us, it is the liquidity providers. If it happens once or twice and never again, it is part of business. If it persists though, FXCM should stop the excuses and find other alternatives/ start asking these providers some tough questions. Simple as that!
  • #7,446
  • Mar 20, 2015 6:37am Mar 20, 2015 6:37am
Hi Jason, what is the maximum leverage for user from Indonesia?
Good Things Come to those who patiently wait
  • #7,447
  • Edited 11:31pm Mar 22, 2015 4:29pm | Edited 11:31pm
Quoting surferncbad
{quote} Jason, Can you tell me why it took over ten minutes to execute a 30k order on the US30? The fill price was over 13 pips away from my entry? Is this the execution that FXCM is bragging about? Order finally filled at 16:51 at 18064. This is absolutely terrible execution. It's almost like FXCM is manipulating the market in their favor. What's going on here? Who needs requotes when you can just hang an order for 15 minutes and fill it where ever you want? {image} {image}
As noted in posted image - Connection: Real, Server: 100KREAL12.

Attached Image
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #7,448
  • Edited 5:54am Mar 23, 2015 5:52am | Edited 5:54am
Quoting surferncbad
I've tried to respond twice now to Jason's recommendation to file a trade inquiry. I have two current trade inquiries that have been open for weeks and have heard nothing from FXCM other than the initial auto reply email. What good does it do to file a trade inquiry with FXCM if they never contact you. Additionally, Jason mentioned no requotes, yet my order was hanging for 15 minutes and filled 17 pips from where I placed the market order. I don't want him to comment on my trade, I want him to comment on how that happens in general. This is a thread...
I have a filed an inquiry in the past. It takes a few weeks and then I got a long reply that basically said they found nothing irregular, the issue was my fault (you're screwed) and thanks for being a client (thanks for giving us a chance to screw you).

Don't expect a resolution in your favor. BUt if you get a good resolution, I'm sure we would all be interested in the positive outcome.
  • #7,449
  • Mar 23, 2015 7:54am Mar 23, 2015 7:54am
Quoting Jason Rogers
Welcome to the forum, WD {quote} I would like to understand this better. You said you had a trade that executed legitimately and created an opposite open position. What resolution were you hoping to get from the audit team? Also, system maintenance is only done over the weekend when trading is closed. It would not prevent you from managing your trades when trading is open during the week.
Jason,
Just saw this, thanks for your interest. I had placed a trade that closed when its SL was hit on a Friday afternoon. What I was not aware of is that when the SL was hit, another trade was opened in the same direction, as if the SL triggered the order and effectively cancelled any stop. I was completely unaware of this until Sunday when I checked my trade. I could not check it sooner due to the weekend maintenance. On that same Sunday, the price of that pair continued to go against me while FXCM trading was closed. I immediately closed the trade as soon as FXCM trading opened, for double the loss of my original stop.

I alerted FXCM to this, the tech team looked into it and the response was that I placed the order and it was my fault. I was at a Jiffy Lube getting my oil changed when the trade was activated so that would have been impossible. At least, I knew that but I don't expect FXCM to believe that. So I then understood that nothing was going to be done in regard to this and my efforts would be fruitless. So I dropped it and moved on. I also monitor all my trades live now and don't leave anything to being auto-executed while I'm away. So regardless of fault, I take responsibility for over estimating the system, customer service and ultimately, for watching my own a$$.
  • #7,450
  • Mar 23, 2015 10:03am Mar 23, 2015 10:03am
Quoting mybest
Hi Jason, what is the maximum leverage for user from Indonesia?
Hi mybest,

Traders from Indonesia can open with FXCM Markets which offers up to 400:1 leverage on accounts with up to $10,000 in equity. Here's where you can find a full list of the features available with the account http://www.fxcm.com/markets/services...0000000MusRAAS

Jason
  • #7,451
  • Mar 23, 2015 10:17am Mar 23, 2015 10:17am
Quoting WickedDaddy
{quote} Jason, Just saw this, thanks for your interest. I had placed a trade that closed when its SL was hit on a Friday afternoon. What I was not aware of is that when the SL was hit, another trade was opened in the same direction, as if the SL triggered the order and effectively cancelled any stop. I was completely unaware of this until Sunday when I checked my trade. I could not check it sooner due to the weekend maintenance. On that same Sunday, the price of that pair continued to go against me while FXCM trading was closed. I immediately closed...
Hi WD,

No problem and always happy to help. I don't have details of your trade, and I'm unclear about the exact issues that occurred from what you described. Please send me an email at [email protected] with your account number so I can take a look at exactly what occurred and review with our tech team.

Jason
  • #7,452
  • Edited 11:41am Mar 23, 2015 11:22am | Edited 11:41am
Quoting Jason Rogers
{quote} ...... This link shows the latest margin requirements for each currency that will go in effect this weekend: http://www.dailyfx.com/forex_forum/f...ml#post2109405
Jason, may I ask as US trader "When" exactly will these New Margin requirements actually take affect?

"FXCM would like to notify you that the margin requirements for the following FXCM Groups will change: FXCM MARKETS, FXCM LTD (UK), and FXCM AU."

Wouldn't "FXCM Markets" be applicable to me? and if so when will either Mt4 or FXCM trading station actually reflect these changes?

I hate to think I've painstakingly closed trades to repositioned myself Friday to find out there has not been changes.

Could you please explain what I am not understanding? And what reason there is that Mt4 or FXCM trading station has not reflected these changes?

Edit: I think I've mistaken "FXCM MARKETS" to be FXCM (US)
"FXCM Markets" is a Unregulated Subsidiary of FXCM meaning it doesn't have anything to do with FXCM (US), am I correct and is this where I may have misunderstood?
Markets are not efficient, rather they are effective - Jones
  • #7,453
  • Mar 23, 2015 2:51pm Mar 23, 2015 2:51pm
Quoting mzvega
{quote} Jason, may I ask as US trader "When" exactly will these New Margin requirements actually take affect? "FXCM would like to notify you that the margin requirements for the following FXCM Groups will change: FXCM MARKETS, FXCM LTD (UK), and FXCM AU." Wouldn't "FXCM Markets" be applicable to me? and if so when will either Mt4 or FXCM trading station actually reflect these changes? I hate to think I've painstakingly closed trades to repositioned myself Friday to find out there has not been changes. Could you please explain what I am not understanding?...
Hi mzvega,

The margin changes went into effect on Friday, 20 March after market close, and included accounts with FXCM (US). The link in my previous post was for FXCM UK, Australia, and Markets. Here's the link showing the new margin requirements for FXCM (US) http://www.dailyfx.com/forex_forum/f...cm-llc-us.html. As you will notice for a US Dollar account, the margin requirement has gone down for many currency pairs, and that is primarily due to the strengthening USD.

Jason
  • #7,454
  • Mar 23, 2015 3:41pm Mar 23, 2015 3:41pm
Quoting Jason Rogers
{quote} Hi mzvega, The margin changes went into effect on Friday, 20 March after market close, and included accounts with FXCM (US). The link in my previous post was for FXCM UK, Australia, and Markets. Here's the link showing the new margin requirements for FXCM (US) http://www.dailyfx.com/forex_forum/f...cm-llc-us.html. As you will notice for a US Dollar account, the margin requirement has gone down for many currency pairs, and that is primarily...
That explains it,
thanks for providing me with an applicable link........
Markets are not efficient, rather they are effective - Jones
  • #7,455
  • Mar 24, 2015 10:21pm Mar 24, 2015 10:21pm
which is the correct price?
traded several rounds until i realized i was paying a dd spread.
the same in eurusd, audjpy, etc.
what's worse is that trading m1 charts and following a different price than the one i'm accountable for is misleading and completely annoying.
1.3 spread on usdjpy + commission in full tokyo session that's 2.1 (smth like oanda).


Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 143 KB
  • #7,456
  • Mar 25, 2015 7:27am Mar 25, 2015 7:27am

  1. FXCM to Sell FXCM Japan to Rakuten Sec for $62M: BBG
    From @zerohedge
    http://www.forexfactory.com/resource...tory-quote.png
    BREAKING

GBP/USD
  • #7,457
  • Mar 25, 2015 7:44am Mar 25, 2015 7:44am
http://ir.fxcm.com/releasedetail.cfm?ReleaseID=903254
  • #7,458
  • Edited 9:23am Mar 25, 2015 8:17am | Edited 9:23am
Quoting hatzius
which is the correct price? traded several rounds until i realized i was paying a dd spread. the same in eurusd, audjpy, etc. what's worse is that trading m1 charts and following a different price than the one i'm accountable for is misleading and completely annoying. 1.3 spread on usdjpy + commission in full tokyo session that's 2.1 (smth like oanda). {image}


Your screenshot shows USD/JPY bid/ask being 119.603/606 which is a spread of 0.3 pips which is the typical spread for USD/JPY on our low spread + commission pricing model.

You may see a difference in pricing on the chart compared to the Market Watch windows because the MT4 platform only allows one chart price feed per server. Our new pricing model has been rolled out on a regional basis and since not all clients on the server may be on the new pricing model, we have not been able to change the charts yet. But we're working on a solution, and I'll let you know once that rolls out.

Jason
  • #7,459
  • Edited 8:57am Mar 25, 2015 8:23am | Edited 8:57am
Quoting deepak925
FXCM to Sell FXCM Japan to Rakuten Sec for $62M: BBG From @zerohedge {image} BREAKING
Hi deepak,

A few weeks ago I mentioned our goal is to repay the Leucadia loan by selling certain non-core assets, and today we have announced the first:

FXCM to Sell FXCM Japan to Rakuten Sec for $62 Million

NEW YORK, March 25, 2015 (GLOBE NEWSWIRE) -- FXCM Inc. (NYSE:FXCM) a leading online provider of foreign exchange (FX) trading and related services, today announced that FXCM Holdings, LLC and FXCM Newco, LLC ("FXCM") have signed a definitive agreement to sell FXCM Japan Securities Co., Ltd ("FXCM Japan") to Rakuten Securities, Inc. ("Rakuten Sec"), a top 5 FX broker in Japan, and a subsidiary of Rakuten, Inc. ("Rakuten") (TOKYO:4755), one of the world's largest Internet services companies, for a purchase price of approximately $62 million.
Read full press release: FXCM to Sell FXCM Japan to Rakuten Sec for $62 Million (NYSE:FXCM)


Here's the full list of potential non-core asset sales mentioned during the earnings release.

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

  • #7,460
  • Mar 27, 2015 8:38am Mar 27, 2015 8:38am
At first I didn't believe in what I've heard from various sources about FXCM scamming their clients.

I asked myself, how come such a big broker, one of the oldest, listed in NYSE and a regulated broker can scam a client with such established reputation?
So I go with FXCM because of the above mentioned criteria plus I find their "education arm" very helpful.

But all these high hopes of making money because you have a trusted broker burst like a bubble when on March 24, 2015, I was scalping the market on a volatile EUR/USD manually opening and closing orders before taking another; when I found out I can no longer execute an order.

Many trade opportunities have passed and since I though that's a bug so I decided to report it.
But I was astonished to see an email from their compliance department stating that they will be terminating my account.

So that's the reason why I can no longer execute an order. With no explanations as to why they terminate my account (and with no warnings even), I am really confused and frustrated.

How come when I was starting out and blowing my account, I did not receive such notice?
How come funding my account back again and again is a breeze.
How come when I am about to become consistently profitable... then they did this to me?

That is a big question!

I emailed them back but no reply. Now I don't even know if my capital/earnings will ever be back again.

With your money in their hands and they shut you down immediately for no reason or warnings at all; and they can no longer be contacted is a typical "modus operandi" of a SCAM group where they can pull the plug anytime and whenever they want just so they can get away with your money in just a blink of an eye.

Note: I am not accusing them. I am demanding justice!

Jason Rogers if you are reading this, please do not reply to me and say please email compliance. Ask them and tell them to reply back and state the reason of the termination.

Until they never reply back stating the reason as to why they terminate my account and until they haven't refunded my money/earnings back then....

Beware dealing with FXCM!
Looks can be decieving - you could be the next target!
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