FXCM Discussion | Page 428 | 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

  • #8,541
  • Edited Feb 2, 2016 10:29am Feb 1, 2016 7:09pm | Edited Feb 2, 2016 10:29am
Quoting Drolph
{quote} Well, let's not mix things up: i only asked u to comment on your own claim - the one you stated. "These brokers are also the counterparties of their liquidity providers. That's because individual retail traders cannot be direct counterparties to the liquidity providers themselves."
Quoting Stoekadoe
what Jason is saying is correct, as a retail trader you are not seen as a market participant themselves. (It is very normal to have $ 20M on ECN-markets, do you think that they are waiting for mini-lots trades? They would have to find 1000 mini-lots trades and one $ 19M trade to fill that one $20M trade. By that time the price has already moved.)
I wouldn't go as far as saying banks don't see retail traders as market participants themselves. However, it's fair to say that the vast majority of retail traders don't meet the requirements (capital or otherwise) to qualify as professional traders to conduct spot forex transactions with liquidity providers on their own. FXCM does meet these requirements, which means we can be your counterparty on one side of the trade, and the counterparty of the liquidity provider on the other side.

It's just that on our No Dealing Desk (NDD) forex execution, we immediately offset our risk despite having the role of counterparty to both sides of the transaction.

Quoting Stoekadoe
It is very normal to have $ 20M on ECN-markets, do you think that they are waiting for mini-lots trades? They would have to find 1000 mini-lots trades and one $ 19M trade to fill that one $20M trade. By that time the price has already moved.
The strong relationships FXCM has developed with our liquidity providers over the years as an industry leader mean we can offer No Dealing Desk (NDD) forex execution even on micro lot orders (1000 currency units or 1K). On all standard FXCM accounts, we offer each client order (even mini lot orders) one-for-one with the best prices from competing liquidity providers.
  • #8,542
  • Feb 1, 2016 7:21pm Feb 1, 2016 7:21pm
Hi Jason,

Can you tell me why the roll rates on the USD/CNH are so wide? Aren't swap rates based on the difference of central bank fund rates? USD is .25% PBoC is 4.35%. Yet the roll s is 1.51 and roll b is -24.89. Something doesn't seem right here? Can you explain the disparity? In contrast the AUD/USD is roll s -4.78 and roll b 2.15.

Thanks
  • #8,543
  • Feb 1, 2016 7:47pm Feb 1, 2016 7:47pm
Quoting Jason Rogers
{quote} Hi 1greyfox, MT4 charts have a limitation in that they can only display the pricing for one account type per server. At this time our USD MT4 servers all display our pricing model that includes all inclusive spreads. That issue will be addressed in an upcoming update. Then you will be able to see MT4 charts that match the raw FX pricing you already see on your Marketwatch window. Our non-USD MT4 servers have already been updated. It's worth noting that even for standard MT4 accounts on our USD servers such as yours, if you log into our Trading...
Hi Jason.

Thank you for taking time to reply and explain things more clearly to me. Do you have an approximate time as to when the update will take effect?

1greyfox
  • #8,544
  • Feb 1, 2016 8:17pm Feb 1, 2016 8:17pm
I recently opened a demo on fxcm aud account I have experienced excessive movement on spreads that will not let you close the winning trade could you please explain why your liquid provider does it please usd/aud moving from 3 to 9 spread at a hundred miles per hour so you are unable to close trade . I wanted to test your platform with the idea to move a account , but now I will wait
people leave, but this thread will go on for ever
  • #8,545
  • Edited Feb 2, 2016 4:56am Feb 1, 2016 9:11pm | Edited Feb 2, 2016 4:56am
Quoting Jason Rogers
Hi Phylo, If you try registering for a free demo on our MT4 platform (by going to File > Open an Account), you will see that FXCM operates 20 live and demo MT4 servers. You would be hard-pressed to find another broker that has as many MT4 servers, and it's a testament to the volume of business FXCM does. The issue is not one of funding or resources as you suggest.
I am soundly aware of the width and breadth of FXCM business and number of servers. Relative to the volume of FXCM cliental you find the figure of 20 live and demo servers impressive. Relative to FXCM client base, I don't. A boast of 20 servers says nothing of client to server proportionality comparisons. FXCM, at present, appears very much struggling to feed its children.

Quoting Jason Rogers
Nor is it one of us trying to prevent clients from getting accurate prices as you have suggested in the past.
Unfactual. I have implied FXCM has done nothing to offer any form of allevation with regards to dual spreads on MT4 charts. #Post 7,998
Attached Image (click to enlarge)
Click to Enlarge Name: FXCM - Dual Spread Post.PNG Size: 78 KB
Further - I have validate FXCM data feed where warranted. #Post 8,210
Attached Image (click to enlarge)
Click to Enlarge Name: FXCM - Data Comparison.PNG Size: 216 KB
Further - I have recommended FXCM Data via Sierra Chart Real Time and Historical Forex and CFD Data Service #Post 7,792 & #Post 6,44.
Having used the service daily for a number of years I have been able to compare the FXCM data with many other data sources and would not have recommended and continue to use said FXCM data had I not found it reliable and stable. However, I have pointed direction where US and UK regulator bodies have after investigation concluded some of FXCM practices of a quality warrenting a fine.

Quoting Jason Rogers
........ Hi 1greyfox, MT4 charts have a limitation in that they can only display the pricing for one account type per server. ........
How is it that other brokers can provide different MT4 accounts types with different spreads straight out the post without an ongoing fiasco of multiple account spreads on the MT4 chart ?

You statement that MT4 charts have a limitation in that they can only display the pricing of one account type per server would imply that to solve the problem of FXCM chart dual pricing would be to have a seperate MT4 server licence/lease agreement for each account type. This would also imply that FXCM has a shortage of MT4 server licence/lease agreements. This would also imply additional infrastructure and technical maintenance. Kindly clarify for the benefit of FXCM clients.
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #8,546
  • Feb 2, 2016 5:01am Feb 2, 2016 5:01am
Quoting Phylo
{quote} How is it that other brokers can provide different MT4 accounts types with different spreads straight out the post without an ongoing fiasco of multiple account spreads on the MT4 chart ?
Hi Phylo.

I had a MT4 account with MBTrading which showed correct pricing on chart and marketwatch. MBtrading sold their accounts to TradeKing. My account was transferred and now the MT4 charts from TradeKing have the same problem that we see on FXCM MT4 charts. I don't know who provides the price data to TradeKing, but this problem isn't isolated to FXCM any longer.

1greyfox
  • #8,547
  • Feb 2, 2016 5:35am Feb 2, 2016 5:35am
Quoting Jason Rogers
{quote} Please send me a PM telling me what servers you are currently using (live and demo). I will try to set you up on demos that are at the same stage of CFD decimalization as your live accounts so you won't have to adjust for any changes in decimal points yourself when switching between live and demo.
The server is THE SAME !!! look at the server name on booth the screenshots !On one screenshot I access the sever from my VPS in New York. On the other screenshot the server is accessed from Belgium central Europe. The same server name ??? But different ??? With Different quotes ??? What a mess ! You are absolutely not helping your clients ... rather serving only your own interests.
Attached Image (click to enlarge)
Click to Enlarge Name: Quote FXCM-2-arrow.jpg Size: 155 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Quote FXCM-arrow.jpg Size: 160 KB
  • #8,548
  • Feb 2, 2016 6:15am Feb 2, 2016 6:15am
Quoting 1greyfox
{quote} Hi Phylo. I had a MT4 account with MBTrading which showed correct pricing on chart and marketwatch. MBtrading sold their accounts to TradeKing. My account was transferred and now the MT4 charts from TradeKing have the same problem that we see on FXCM MT4 charts. I don't know who provides the price data to TradeKing, but this problem isn't isolated to FXCM any longer. 1greyfox
Perhaps its isolated to brokers who cannot affort seperate MT4 server licence/lease agreements for each account type.
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #8,549
  • Feb 2, 2016 7:57am Feb 2, 2016 7:57am
Quoting Phylo
{quote} I am soundly aware of the width and breadth of FXCM business and number of servers. Relative to the volume of FXCM cliental you find the figure of 20 live and demo servers impressive. Relative to FXCM client base, I don't. A boast of 20 servers says nothing of client to server proportionality comparisons. FXCM, at present, appears very much struggling to feed its children. {quote} Unfactual. I have implied FXCM has done nothing to offer any form of allevation with regards to dual spreads on MT4 charts.
Pfff, let it go. It is up to FXCM to do it like this. Convincing Jason doesn't help to get what your want. They are aware and decide to change it or not. If it is not to your liking, move along and find a broker that sattisfy your needs. I am sorry, but I just don't see what you are trying to change by your remarks. It is FXCM policy.

Do you only have a demo-account at fxcm?
  • #8,550
  • Feb 2, 2016 7:58am Feb 2, 2016 7:58am
Quoting Phylo
{quote} Perhaps its isolated to brokers who cannot affort seperate MT4 server licence/lease agreements for each account type.
Perhaps not.
  • #8,551
  • Edited Feb 8, 2016 12:57pm Feb 2, 2016 8:54am | Edited Feb 8, 2016 12:57pm
{ sensitive information deleted by staff, per request }
  • #8,552
  • Feb 2, 2016 9:15am Feb 2, 2016 9:15am
Quoting surferncbad
Hi Jason, Can you tell me why the roll rates on the USD/CNH are so wide? Aren't swap rates based on the difference of central bank fund rates? USD is .25% PBoC is 4.35%. Yet the roll s is 1.51 and roll b is -24.89. Something doesn't seem right here? Can you explain the disparity? In contrast the AUD/USD is roll s -4.78 and roll b 2.15. Thanks

Hi Surferncbad,

I recently posted about the rollover interest rates for USD/CNH in a discussion about the Chinese Yuan:
Quoting Jason Rogers
overnight rollover charges in the USD/CNH have surged as the PBOC has unofficially made it substantially more expensive to hold CNH-short positions. This is consistent with their preference to defend the CNH against speculation, and theres no question that theyre feeling the heat on the surge in the CNH vs CNY spread. (more on that here)

In addition to the DailyFX article I referred to in that discussion, you might be interested in reading this article in the Financial Times:
Quote
China opens new front in war on speculators - PBoC intervenes in offshore renminbi market, sending HK rates to record
  • #8,553
  • Feb 2, 2016 9:39am Feb 2, 2016 9:39am
Quoting 1greyfox
{quote} Hi Jason. Thank you for taking time to reply and explain things more clearly to me. Do you have an approximate time as to when the update will take effect? 1greyfox
Quoting Phylo
{quote} I am soundly aware of the width and breadth of FXCM business and number of servers. Relative to the volume of FXCM cliental you find the figure of 20 live and demo servers impressive. Relative to FXCM client base, I don't. A boast of 20 servers says nothing of client to server proportionality comparisons. FXCM, at present, appears very much struggling to feed its children.
We're in the final stages of implementing this solution. As mentioned previously, our Standard account holders with non-USD-denominated accounts can already see our raw FX spreads on MT4 charts. In about one month's time, raw FX spread pricing will be visible on MT4 charts for USD-denominated accounts as well.
  • #8,554
  • Edited 11:12am Feb 2, 2016 9:46am | Edited 11:12am
Quoting Stoekadoe
{quote} Pfff, let it go. It is up to FXCM to do it like this. Convincing Jason doesn't help to get what your want. They are aware and decide to change it or not. If it is not to your liking, move along and find a broker that sattisfy your needs. I am sorry, but I just don't see what you are trying to change by your remarks. It is FXCM policy. Do you only have a demo-account at fxcm?
Warrants no attention. Dismissed.

Dismiss: treat as unworthy of consideration.
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #8,555
  • Edited 2:42pm Feb 2, 2016 9:57am | Edited 2:42pm
Quoting CatMan
{quote} The server is THE SAME !!! look at the server name on booth the screenshots !On one screenshot I access the sever from my VPS in New York. On the other screenshot the server is accessed from Belgium central Europe. The same server name ??? But different ??? With Different quotes ??? What a mess !
Hi CatMan,

The quotes on both accounts are the same. It's just that one of your accounts has already been updated with our new CFD decimalization, while the other account has not yet been updated. Please send me a PM with the details. I'll be happy to see if I can get the second account updated for you now as well.

Quoting CatMan
You are absolutely not helping your clients ... rather serving only your own interests.{image}{image}
Decimalized pricing on CFDs allows you to trade with:

  1. Increased precision in stop orders
  2. Increased transparency as the pricing will more accurately reflect the underlying market
  3. Potential for lower CFD spreads in the future just like 5th digit pricing helped to lower spreads in FX


CFD decimalization will benefit FXCM clients as shown in this example:

Suppose the DAX price is 9713.48 and you are long GER30 with a stop at 9713.00. Previously, with no decimalization, you would have been stopped out of your trade, because the price would have rounded down to 9713. With decimalised quotes, however, you can still be in this trade.

  • #8,556
  • Edited 11:09am Feb 2, 2016 10:57am | Edited 11:09am
Quoting Jason Rogers
{quote} (Quoting Phylo ) I am soundly aware of the width and breadth of FXCM business and number of servers. Relative to the volume of FXCM cliental you find the figure of 20 live and demo servers impressive. Relative to FXCM client base, I don't. A boast of 20 servers says nothing of client to server proportionality comparisons. FXCM, at present, appears very much struggling to feed its...
Quoting Jason Rogers
We're in the final stages of implementing this solution. As mentioned previously, our Standard account holders with non-USD-denominated accounts can already see our raw FX spreads on MT4 charts. In about one month's time, raw FX spread pricing will be visible on MT4 charts for USD-denominated accounts as well.
Thank you Jason for reply. I appreciate the scope of the Jason entity task. However, you give the impression of avoiding the first bullet point of my original post - that of sufficient MT4 server licence/lease agreements - and also ignoring the below MT4 server licence/lease agreements contents of my previous reply post.

{Quote}You statement that MT4 charts have a limitation in that they can only display the pricing of one account type per server would imply that to solve the problem of FXCM chart dual pricing would be to have a seperate MT4 server licence/lease agreement for each account type. This would also imply that FXCM has a shortage of MT4 server licence/lease agreements. This would also imply additional infrastructure and technical maintenance. Kindly clarify for the benefit of FXCM clients.{/quote}

Comment: In short, your above statement appears to infer that two accounts types are piggybacking off a single MT4 server (licence/lease) and solution lies in each account type allocated its own dedicated server.
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #8,557
  • Feb 2, 2016 12:35pm Feb 2, 2016 12:35pm
Quoting Phylo
{quote} Warrants no attention. Dismissed. Dismiss: treat as unworthy of consideration.
What ever makes you stop. Still good advice.
  • #8,558
  • Edited 4:20pm Feb 2, 2016 2:15pm | Edited 4:20pm
Quoting Jason Rogers
{quote} Hi CatMan, The quotes on both accounts are the same. It's just that one of your accounts has already been updated with our new CFD decimalization, while the other account has not yet been updated. Please send me a PM with the details. I'll be happy to see if I can get the second account updated for you now as well. {quote} Decimalized pricing on CFDs allows you to trade with: Increased precision in stop orders Increased transparency as the pricing will more accurately reflect the underlying market CFD decimalization will benefit FXCM clients...
Please !
The ACCOUNT is the same, The SERVER is the same , only the location of the computer is different. 1 screenshot is on a pc in NEW YORK and the other is in BELGIUM.
  • #8,559
  • Feb 2, 2016 2:18pm Feb 2, 2016 2:18pm
Hi Jason, could you please explain (or direct me to) how fxcm handles limit orders (e.g., stop loss and take profit orders) through its liquidity order book. Whenever a NDD client enters a stop-loss or take profit (a limit order) via Mt4, what happens on your end? That is, when your liquidity book hits a client limit price (taking into account spread), do you immediately send a market order to the order book? If the spread is too high (on a short), do you wait to confirm it can get filled at the limit? If there is clear slippage on your end, do you let it slip and pass that along to the client? I am curious on differences between fills for market and limit orders at the same price and lots. Thanks.
  • #8,560
  • Feb 3, 2016 12:21am Feb 3, 2016 12:21am
Jason stop trying to shut me down here.​
You as well as i know that FXCM simply cannot produce the goods on the MT4 platform.
Everybody is aware of your "broker tricks"
You can try to camouflage your posts as much as you can and even throw in your excecution studies, it means nothing.
The reality is that you are dishing up a sub standard service to your clients .
FXCM cannot "match" other brokers like LCG, Darwin, IG and many more.
The "ONLY" reason why FXCM has so many clients is because you are a USA stock listed company and the way you handled the Swiss debacle.
You cannot offer traders a first class service. PERIOD.
Never Ever Give Up!
8 traders viewing now