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FXCM Discussion

  • #7,901
  • Jul 27, 2015 5:00pm Jul 27, 2015 5:00pm
Quoting tasco
I noticed that FXCM made announcements on FXCM Investor Relations website about the update to its negative balance policy for FXCM AU and FXCM UK. But none for FXCM US? Any reason for that?
Quoting tasco
It seems more like a company decision to stop offering it to US traders only?
That's not the case. FXCM is able to offer negative balance protection to our clients living outside the US, because regulations in other countries permit such a policy. However, negative balance protection could not be extended to US clients based on CFTC regulations.
  • #7,902
  • Jul 27, 2015 7:19pm Jul 27, 2015 7:19pm
Quoting CatMan
{quote} Thanks for your answer Jason, but you don't answer the core of my question: Due to the spread being much smaller actual than on the chart is shown ... The bars show a price LOW that is incorrect. Is that acceptable ? This has also a negative impact on BT results. Using an other dealstation than MT4 is not an option for me. FXCM should make MT4 work properly, like most other brokers manage to do. And like they promised to do. Correct me if I am wrong.
Hi CatMan,

We're currently working on a solution so prices on your MT4 charts will reflect the raw FX spreads you already see in the Market Watch window of your MT4 platform. I will post an update here when it's available. In the meantime, it's worth noting that the historical data I provided you already reflect our raw FX spreads, so you should be able to use that for your back testing without issue.
  • #7,903
  • Jul 27, 2015 8:35pm Jul 27, 2015 8:35pm
Quoting Jason Rogers
{quote} Hi CatMan, We're currently working on a solution so prices on your MT4 charts will reflect the raw FX spreads you already see in the Market Watch window of your MT4 platform. I will post an update here when it's available. In the meantime, it's worth noting that the historical data I provided you already reflect our raw FX spreads, so you should be able to use that for your back testing without issue.
Jason by no means am I singling out FXCM, so please don't take this that way but where is the broker's forex lobby in our capitol?
Every major and minor industry in the US is represented by some form of lobbyist in Washington DC with the most powerful being the banking lobby.
Why is there not a combined effort to create such a lobby with the belief that "what's better for the trader is better for the broker"

Is not the big powerful US auto industry regulated by not just one gov. agency but by many of them?
Do they not have lobbyist bucking for something better for them?

And how about pharmaceuticals?....... case closed!!
Apple...Google...Monsanto....Lockheed..... the list of lobbyists goes on and on

It is hard to digest that US brokers with hundreds of billions in trade volume have difficulty with coming up with a lobby group to represent YOU and US.
If the dollars US brokers traded were accepted as retail sales, any of the mentioned companies would be out of their chairs in delight.

Please answer why this industry turns a cold shoulder to special interest lobbies.
The answer can't be as simple as "they regulate us" because really, which of the mentioned businesses are not regulated by our government.
  • #7,904
  • Jul 27, 2015 8:43pm Jul 27, 2015 8:43pm
I will also say that one problem is the fines imposed by the CFTC etc is made up ad hock and dart board like.
Fines coming from "US regulation agencies" are a moving target.

For instance they will say one day....jee whiz that's going to be a 100K fine.
At the end of the day they call the same broker and say "no the fine should be 7 million, sorry for the confusion.
Next day it is down to 4 million because we were up late last night and was tired from thinking out loud.
Next day for the same infraction it is back up to 7 million because we found out after all, we really were thinking out loud properly .
The next day the fine is 6 million because American Idol was on last night, and after all, we all like American Idol, so you qualify for the American Idol fine reduction.
  • #7,905
  • Jul 28, 2015 2:59am Jul 28, 2015 2:59am
Quoting Jason Rogers
{quote} {quote} That's not the case. FXCM is able to offer negative balance protection to our clients living outside the US, because regulations in other countries permit such a policy. However, negative balance protection could not be extended to US clients based on CFTC regulations.
So FXCM was not in compliance with CFTC regulations for years by offering negative balance protection to U.S. clients and by forgiving negative balance of U.S. clients in the SNB event?
  • #7,906
  • Jul 28, 2015 3:58am Jul 28, 2015 3:58am
Quoting ZeF
{quote} The retail brokers have no common ground and will rather dig each other's shallow grave fighting for scraps than get their act together and become a strong interest group with legitimate lobbying activities. This is one of the reasons why they go to places like Cyprus to look for "regulation" from dickless CySec Liliputians. A bunch of scammers (absolutely all of them) who will cry wolf when some retail smug hands them the same coin back. These FXCM dudes have the balls to show up and say their company is doing better than ever when their...
Does their profit margin and operating margin include B booking, stop hunting, freedom to slip? Hahhahahaha Nice pic
  • #7,907
  • Edited 6:20am Jul 28, 2015 4:08am | Edited 6:20am
Nasdaq FXCM Company Financials - http://www.nasdaq.com/symbol/fxcm/fi...data=quarterly
Search: → FXCM
Navigate side panel → Income Statement: → Income Statement / Balance Sheet / Cash Flow / Financial Ratios → Get Quartery Data

For those unfamiliar with company financial statements: $123,456 is positive. ($123,456) is negative.
Attached Image (click to enlarge)
Click to Enlarge Name: FXCM - Nasdaq.PNG Size: 15 KB
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #7,908
  • Jul 28, 2015 6:00pm Jul 28, 2015 6:00pm
Quoting PipShot
{quote} Jason by no means am I singling out FXCM, so please don't take this that way but where is the broker's forex lobby in our capitol? Every major and minor industry in the US is represented by some form of lobbyist in Washington DC with the most powerful being the banking lobby. Why is there not a combined effort to create such a lobby with the belief that "what's better for the trader is better for the broker" Is not the big powerful US auto industry regulated by not just one gov. agency but by many of them? Do they not have lobbyist bucking...
Hi PipShot,

FXCM has been lobbying actively on behalf of seg funds among other industry items for over ten years in Washington. Unfortunately, other firms in the industry have shown little interest in these matters which leaves us largely on our own when it comes to lobbying in DC.
  • #7,909
  • Jul 29, 2015 8:43am Jul 29, 2015 8:43am
Quoting Phylo
Nasdaq FXCM Company Financials - http://www.nasdaq.com/symbol/fxcm/fi...data=quarterly Search: → FXCM Navigate side panel → Income Statement: → Income Statement / Balance Sheet / Cash Flow / Financial Ratios → Get Quartery Data For those unfamiliar with company financial statements: $123,456 is positive. ($123,456) is negative. {image}
Expenses are not specified so it is hard to know what game FXCM is playing. If I was the CEO I would use all possible profits and money from asset sales to knock down my debt. Thats what I think they are doing. By declaring losses after losses you save in taxes while knocking down your debt.
So, you think you have rights? LOL
  • #7,910
  • Jul 29, 2015 2:59pm Jul 29, 2015 2:59pm
i dont like FXCM becoz their minimum deposit is 2000 and their spread is high
  • #7,911
  • Edited 5:17pm Jul 29, 2015 4:47pm | Edited 5:17pm
Quoting analyst786
i dont like FXCM becoz their minimum deposit is 2000 and their spread is high
Hi Analyst786,

Are you referring to the spread on a particular currency pair or CFD product? If so, which one? The live table here on Forex Factory shows that FXCM spreads are quite competitive: http://www.forexfactory.com/brokers.php#spreads

Also, I notice your forum profile mentions that you live in Pakistan. That means you can open an FXCM Markets account with as little as $50.
  • #7,912
  • Edited Jul 30, 2015 2:34pm Jul 29, 2015 4:50pm | Edited Jul 30, 2015 2:34pm
This Thursday, we are hosting a live SSI webinar. In this webinar, DailyFX Strategist James Stanley will show traders how to install, implement, and strategize with the Speculative Sentiment Index, which is now available through our new SSI Snapshots indicator for Trading Station Desktop.

Attached Image (click to enlarge)
Click to Enlarge Name: aT1ggHn.png Size: 69 KB


This one-hour SSI webinar will take place at two times on Thursday.

  1. 12:30 GMT (8:30 AM New York Time) - https://attendee.gotowebinar.com/reg...94777422114305
  2. 17:00 GMT (1:00 PM New York Time) - https://attendee.gotowebinar.com/reg...11988485907713

  • #7,913
  • Jul 30, 2015 6:20pm Jul 30, 2015 6:20pm
Quoting Jason Rogers
This Thursday, we are hosting a live SSI webinar. In this webinar, DailyFX Strategist James Stanley will show traders how to install, implement, and strategize with the Speculative Sentiment Index, which is now available through our new SSI Snapshots indicator for Trading Station Desktop.
Here's a recording of today's SSI webinar for those who could not attend: https://attendee.gotowebinar.com/rec...42617809706753
  • #7,914
  • Jul 30, 2015 7:58pm Jul 30, 2015 7:58pm
Quoting Jason Rogers
{quote} The live table here on Forex Factory shows that FXCM spreads are quite competitive: http://www.forexfactory.com/brokers.php#spreads

Actually, depending on volume, when you take into account the commission+spread, its not much different than others, right?
  • #7,915
  • Edited 11:16am Jul 31, 2015 11:01am | Edited 11:16am
Quoting nonlinear
{quote} Actually, depending on volume, when you take into account the commission+spread, its not much different than others, right?

My point exactly, NL
Attached Image (click to enlarge)
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When you take into account both spreads and commissions, FXCM pricing is quite competitive, which is why I was wondering to which spread @Analyst786 was referring.

Quoting analyst786
their spread is high
Hi Analyst786,

Is it possible you were looking at the spreads on our MT4 charts? If so, it's worth noting these charts are in the process of being updated to reflect the raw FX spreads which are already available to you for trading and that you can see in the Market Watch window of the platform.

Attached Image (click to enlarge)
Click to Enlarge Name: spreads 2015 July 31.png Size: 27 KB

The table above shows FXCM's average spreads. Our spreads are extremely low due to healthy competition in our vast network of global banks, financial institutions and other market makers that make up our renowned No Dealing Desk (NDD) forex execution model. You trade on the exact bid/ask quotes that stream from our liquidity providers.
  • #7,916
  • Aug 8, 2015 5:41pm Aug 8, 2015 5:41pm
I am just curious to know if the FXCM stock will ever go high.

Thanks to yahoo charts http://ycharts.com/companies/FXCM
Attached Image (click to enlarge)
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newzTrader
  • #7,917
  • Aug 9, 2015 9:34am Aug 9, 2015 9:34am
Hi Jason Rogers,
I had just received an email that provide me with an option to transfer my FXCM Australia account to FXCM UK. The benefits include low spreads, 400:1 leverage and 24/7 customer service. The only benefits I am interested is the low spreads. The current spread offer to me for EURUSD is 2.7 pips. The email stated that FXCM UK offer 1.5 pips spread on EUR/USD with small caption that basically say 'Spreads are variable.'
A check on both the FXCM UK and FXCM AUS website does not provide any answer as both websites are busy promoting the super low spread that are basically non-existent to me due to my small account and small trade volume.

My questions are:
1) Does FXCM UK really offer a much lower spread that FXCM AUS on the same pair? Really???
2) If answer for above is real, does this mean that FXCM AUS will not offer the low spreads as the same one as FXCM UK (even in the future time)? If there will offer the same low spread in the near future, I might not transfer my account to FXCM UK.
3) Are there any specific rules in order to enjoy the low spreads after I changed my account from FXCM AUS to FXCM UK? Like having a BIG account or LARGE trade volume? I am afraid that after having changed my account to FXCM UK, I might not enjoy a lower spread.
Take my view with a pinch of salt!
  • #7,918
  • Aug 9, 2015 1:33pm Aug 9, 2015 1:33pm
Quoting anudora
Hi Jason Rogers, I had just received an email that provide me with an option to transfer my FXCM Australia account to FXCM UK. The benefits include low spreads, 400:1 leverage and 24/7 customer service. The only benefits I am interested is the low spreads. The current spread offer to me for EURUSD is 2.7 pips. The email stated that FXCM UK offer 1.5 pips spread on EUR/USD with small caption that basically say 'Spreads are variable.' A check on both the FXCM UK and FXCM AUS website does not provide any answer as both websites are busy promoting the...
http://www.fxcm.com/uk/
  • #7,919
  • Aug 10, 2015 9:33am Aug 10, 2015 9:33am
Quoting Jason Rogers
{quote} {quote} That's not the case. FXCM is able to offer negative balance protection to our clients living outside the US, because regulations in other countries permit such a policy. However, negative balance protection could not be extended to US clients based on CFTC regulations.
So FXCM was not in compliance with CFTC regulations for years by offering negative balance protection to U.S. clients and by forgiving negative balance of U.S. clients in the SNB event?


I applaud FXCM for honoring their negative balance protection during the SNB event, from a client's perspective. However, by continuing to offer negative balance protection to clients of other countries, wouldn't this put investors at risk and at a loss? As well as clients if funds are not segregated? How much did FXCM lose because of the negative balance protection anyway?
  • #7,920
  • Aug 10, 2015 12:20pm Aug 10, 2015 12:20pm
Quoting anudora
Hi Jason Rogers, I had just received an email that provide me with an option to transfer my FXCM Australia account to FXCM UK. The benefits include low spreads, 400:1 leverage and 24/7 customer service. The only benefits I am interested is the low spreads. The current spread offer to me for EURUSD is 2.7 pips. The email stated that FXCM UK offer 1.5 pips spread on EUR/USD with small caption that basically say 'Spreads are variable.' A check on both the FXCM UK and FXCM AUS website does not provide any answer as both websites are busy promoting the...
Hi anudora,

Yes, the account update will allow you to trade with a lower spread than what you see in your existing account. Could this apply to Australia accounts in the future? I guess anything is possible but I don’t know of any plans at the moment which is why we’re giving the option to transfer. There is no balance requirement or trading volume requirement in order to take advantage of the reduced spreads when you transfer to FXCM UK.

Jason
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