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FXCM Discussion

  • #8,701
  • Mar 7, 2016 4:05pm Mar 7, 2016 4:05pm
Quoting francmorio
{quote} FXCM spreads in demo are differrent from the spreads in real accounts. Sometimes the differences goes even up to more than 20 pips. How on earth can |I rely on such difference?
Hi Franc,

Thanks for asking, because it's possible you may have misinterpreted what you saw.

First, it's important to note that FXCM quotes prices to one-tenth of one pip. The difference of "20 pips" that you mentioned might actually be 2 pips. Such a misinterpretation is particularly possible if you are looking at the MT4 platform where 10 points equals 1 pip.

Second, it's important to note that FXCM offers different account types. Mini accounts have an all inclusive spread with no commissions, while Standard accounts have raw FX spreads with a separate commission. This could possibly account for the difference you saw.

Do you have any screenshots? If you send me a private message with the details of your demo and real accounts, I would be happy to check this for you.
  • #8,702
  • Edited 5:05pm Mar 7, 2016 4:23pm | Edited 5:05pm
Quoting Cobra
...... {quote} Myself and many other traders have mentioned the same thing here repeatedly. I have been running an EA on LCG and FXCM on demo today to see how both will react. I am trying FXCM because of the low spread. FXCM is a complete mess. Slippage and what I call a deliberate attack on the EA is how FXCM is dealing with it.
Quoting rosyfx
{quote} +1 What he said
With all due respect, what possible benefit could FXCM gain from "Slippage and what I call a deliberate attack on the EA" on your demo account where no real money is at risk?

If you trade EAs, then you should be happy to know that FXCM is unique in giving traders the control to decide how much negative slippage they are willing to accept on the MT4 platform and still receive the full benefits of any positive slippage that's available in the market using our enhanced Maximum Deviation feature.

Over a 12-month period, FXCM clients received over $21 million in positive slippage. I have extended this offer to you in the past and my offer still stands: If you would like one of my colleagues to give you a walk through over the phone to discuss how you can optimize the Maximum Deviation settings on your MT4 platform to work better with your EA, please let me know. I'll be happy to arrange the call for you.

Quoting Cobra
It is absolutely in their interest to show profit for themselves
On our No Dealing Desk (NDD) forex execution model, FXCM does not profit from your losses or lose from your profits. Instead, we profit from your trading volume via the commission. That means, we want you to be profitable, so you can continue trading with us.
  • #8,703
  • Edited 5:09pm Mar 7, 2016 4:42pm | Edited 5:09pm
Quoting cepwin
When I've compared fxcm's spreads vs Oanda (which is the other broker I'm considering) FXCM's spreads always seem a little better...but this is looking at demo accounts and web sites that track these things.
Quoting Cobra
Do not let them fool you with low spreads
Quoting zznbrm
{quote} ... {image}
Hi Zznbrm,

Thank you for sharing that image which confirms your own personal experience with FXCM's low spreads.

You might be interested to know that just last week FXCM published a report with detailed stats on our spreads during both peak and non-peak hours, including how often the spreads were less than 0.1 pips: http://ir.fxcm.com/releasedetail.cfm?ReleaseID=958098
  • #8,704
  • Mar 7, 2016 5:43pm Mar 7, 2016 5:43pm
Trading Hours for Start of Daylight Savings Time in the US


Hi Everyone,

Daylight Savings Time will start in the US on Sunday, March 13th. That means the trading hours for CFDs that follow US market times will shift by one hour starting next week. Below are the updated times.
Attached Image


Forex Trading Hours

In terms of New York Time, the trading desk will still open at 5pm on Sunday and close at 5pm on Friday as always. However, since New York Time will shift this weekend from GMT-5 to GMT-4, the trading desk hours will also shift by one hour in GMT terms. Starting next week, the trading desk will open at 21:00 GMT on Sunday and close at 21:00 GMT on Friday.



A special note for all MT4 clients on our New York Close servers

The time zone on our New York Close MT4 servers will change this weekend from GMT+2 to GMT+3. In this way, midnight on your MT4 charts will stay in line with the 5pm New York Close. If you have any EAs or indicators that use a GMT offset, please update them to GMT+3 this weekend.



Note: I will be out of the office for the rest of the week and will respond to your posts and private messages when I return.
  • #8,705
  • Mar 8, 2016 4:35am Mar 8, 2016 4:35am
Quoting Jason Rogers
{quote} {quote} With all due respect, what possible benefit could FXCM gain from "Slippage and what I call a deliberate attack on the EA" on your demo account where no real money is at risk? If you trade EAs, then you should be happy to know that FXCM is unique in giving traders the control to decide how much negative slippage they are willing to accept on the MT4 platform and still receive the full benefits of any positive slippage that's available in the market using our enhanced...
Jason if I take up your offer and I set the maximum deviation one of the following two things will happen:

  1. I will be slipped each time with the maximum "accepted" deviation ( NOT to my benefit at all ) and/or
  2. My EA's order will simply not be executed because of the "maximum deviation" setting which leaves my EA unprofitable ( missed orders)

This feature is designed to pass on slippage to the trader as "agreed" by him or to simply not execute the order due to "unacceptable slippage" as agreed by the trader.
Why is it not possible to give me a demo which will represent true market conditions so that I can make an informed decision rather thn opening a live acc and only to find out that I was right about the re-quotes and slippage. Why?

Never Ever Give Up!
  • #8,706
  • Mar 8, 2016 4:43am Mar 8, 2016 4:43am
Quoting zznbrm
{quote} ... {image}
Not sure what you are trying to prove?
Low spreads advertised by FXCM has got nothing to do with the slippage and re-quote issue. How does low spreads makes poor execution good?
Never Ever Give Up!
  • #8,707
  • Mar 8, 2016 4:48am Mar 8, 2016 4:48am
my sole opinion ... switch to the fxcm trade station (or the web tradestation) .. i honestly thing mt4 is the cause behind a lot of slippage and most of the issues i read here .

I use mt4 for charts and tradestation for my trades I would never change that now.
  • #8,708
  • Mar 8, 2016 4:51am Mar 8, 2016 4:51am
Quoting Jason Rogers
{quote} {quote} With all due respect, what possible benefit could FXCM gain from "Slippage and what I call a deliberate attack on the EA" on your demo account where no real money is at risk? If you trade EAs, then you should be happy to know that FXCM is unique in giving traders the control to decide how much negative slippage they are willing to accept on the MT4 platform and still receive the full benefits of any positive slippage that's available in the market using our enhanced...
With reference to your word DEMO typed in bold red letters:

Why would i as a car dealer place a car on the showroom floor without an engine in? What would the purpose be of a demo acc if it needs fine tuning ( setting max deviation) before i can see the true benefits of it? Why would Mercedes first want you to "tune" the engine first but BMW offers you a turnkey product which works just fine from the word go?
Never Ever Give Up!
  • #8,709
  • Mar 8, 2016 4:54am Mar 8, 2016 4:54am
Quoting n_aftab
my sole opinion ... switch to the fxcm trade station (or the web tradestation) .. i honestly thing mt4 is the cause behind a lot of slippage and most of the issues i read here . I use mt4 for charts and tradestation for my trades I would never change that now.
I use mt4 because i have a profitable EA.

If someone can point me in a direction where i do not need Mt4 , but can still run an automated ( semi automated) robot i will be happy.
Never Ever Give Up!
  • #8,710
  • Mar 8, 2016 8:44am Mar 8, 2016 8:44am
Quoting Cobra
{quote} I use mt4 because i have a profitable EA. If someone can point me in a direction where i do not need Mt4 , but can still run an automated ( semi automated) robot i will be happy.
Trading Station
NinjaTrader
Mirror Trader
ZuluTrade
ForexConnect
Java Trading API
FIX API
  • #8,711
  • Mar 8, 2016 9:04am Mar 8, 2016 9:04am
Quoting zznbrm
{quote} Trading Station NinjaTrader Mirror Trader ZuluTrade ForexConnect Java Trading API FIX API

or if you want a quicker execution you could try a vps that fxcm host .. that way your ea runs as close to the fxcm servers as possible .. they used to give it for free with account balances of a certain amount .. worth looking at if you want to stick with mt4
  • #8,712
  • Mar 9, 2016 4:54pm Mar 9, 2016 4:54pm
Quoting Cobra
{quote} With reference to your word DEMO typed in bold red letters: Why would i as a car dealer place a car on the showroom floor without an engine in? What would the purpose be of a demo acc if it needs fine tuning ( setting max deviation) before i can see the true benefits of it? Why would Mercedes first want you to "tune" the engine first but BMW offers you a turnkey product which works just fine from the word go?
You are really naive to think that any broker or LP will give you the exact same execution as live. A demo NEVER EVER mirrors live executions - its impossible. You can arb the shit out of a demo...

For someone that has been trading at least since 2006 (looking at your profile) comparing cars with forex is actually [........] you just fill in the dots...

If your EA is really making REAL money - perhaps you would already have funded a small account at FXCM and just do a real testdrive.

I read you want to migrate your EA into something else where you dont have to use MT4; this might help you: https://www.fxcm.com/services/forex-...rategy-coding/

Good luck Cobra.
  • #8,713
  • Mar 10, 2016 8:30am Mar 10, 2016 8:30am
Wow....the EURUSD pair lagging on the Demo2 server by 15 mins again. The funny thing is I cannot enter a trade on Demo account cause it say "off quote". Otherwise, I may have made a million on my demo account.
Well, the good news is the EURUSD on live account is not lagging.

I agree with the above post that demo never mirror live execution but lagging 100 pips on a demo account during ECB event. That is something new.
Take my view with a pinch of salt!
  • #8,714
  • Mar 10, 2016 8:54am Mar 10, 2016 8:54am
Cannot connect to my account on TradeStation mobile. Same goes with the desktop version (just got home, I guess there's a bigger glitch related to TS).
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  • #8,715
  • Mar 10, 2016 11:43am Mar 10, 2016 11:43am
Today, after Draghi, it was impossible to trade, neither through TradeStation nor trough MT4 platform. I gave up after 30 minutes of "invalid prices"/"off quotes" MT4 messages and "processing..."/ "unble to..." TradeStation messages. I have been with FXCM since 2003., but I had never experienced this before.
  • #8,716
  • Mar 10, 2016 2:13pm Mar 10, 2016 2:13pm
This has got to be a new record! Practically impossible to trade for quite some time after news and a few weeks of testing an EA wasted with rates and charts lagging by three hours! The only way to fix this was to open a new account on another server, fortunately only playmoney but still a bit annoying...

What is really annoying is to contact the live chat to enter my details and question three times and the first two waiting for a while and then being passed on to a survey asking if the service representative had answered my questions to my satisfaction but I never even got one single reply!

The third time I did get to chat with a representative who helped me out partially but then ignored my last question and once again I got passed on to the survey which I answered for the third time stating the incredible lack of service and disrespet that I experienced. Also stating that I better get a call with an apology and a public apology and an explanation from Jason Rodgers here. Having been a client for about 7 years appears to be have no value at all...

So perhaps FXCM will take action so save their face but if not, is LMAX a good broker or anyone recommend another trustworthy broker?

PS. For anyone who may think I'm overreacting check my profile for how many times I have posted over the years and what it has been about. DS.
  • #8,717
  • Mar 10, 2016 2:34pm Mar 10, 2016 2:34pm
Hell Jason Rogers,

How are you today. I trust that things are going well over at FXCM. On the MT4 Platform today, things were a bit rough. Can you please explain this in a way that I can understand it. I'm not too bright, so if you could slow it down and help me understand why this keeps happening on the FXCM Platform, I'd really appreciate the help. I will admit up front that I maintain a small cash account at FXCM for testing of my new concepts away from the platform that I trade in production. I do this for several good reasons, though it is not the most optimal method. The most optimal method is also the worst possible method for protecting my edge in production trading.

The chart below says it all. I await your response. Thank you!

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http://i66.tinypic.com/5y9ngo.jpg
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
  • #8,718
  • Mar 10, 2016 3:16pm Mar 10, 2016 3:16pm
Quoting cfta
...is LMAX a good broker or anyone recommend another trustworthy broker?...
In the United States you are basically hosed as Retail Trader, if the real truth be told. In the States, for retail platforms, you probably have IB followed by TradeKing/MB Trading. Leverage is lower at IB, which means higher Margin Requirements. After that, you are pretty much on an "upscale" retail platform, if you use theirs. If you opt for MT4, you will have to use the trade-commander.com bridge. Never used it before and don't know anything about its reliability. The say they cannot feed an MT4 chart with IB data, so I really don't what kind of "bridge" it might be, other than Order Routing. If you are running an EA, then you want live data from the source where your trades are ultimately being executed, not a third-party.

Quite honestly, I cannot think of better FX Broker and FX Platform that DivisaFx for the Middle Level Trader who wants to be with a company as a Retail Trader, until they grow into more of a "Commercial" Account. DivisaFX can work with you from Retail up through Prime Broker. As an individual Trader, you will probably never need anything more than Prime Broker relationship. It is very unfortunately that the current set of bogus financial market regulations prohibit Retail FX Traders from using DCFX out of the United States. However, if you are not hampered with such regulatory restraints, I can't think of a better place to be for Retail FX, while having a really competitive option for Prime Broker down the road, once you really learn what you are doing in this business.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
  • #8,719
  • Mar 11, 2016 12:15am Mar 11, 2016 12:15am
Hi Jason!
I have same EA on 10 brookers both live and demo. On FXCM on a Euro based demo. Tonight it worked fine on 9 brookers and order whas executed. But on FXCM no order. Trade context is busy under Expert tab. Thats not good.
  • #8,720
  • Mar 11, 2016 1:45am Mar 11, 2016 1:45am
Hello all,
new on this forum thread, but I'm little surprised of all these negative comments about FXCM. Are you all referring to FXCM US or UK? I'm doing big brokers test for my scalping EA and I must say my FXCM UK (EUR denomination) is in my TOP3 brokers in terms of spread, commissions and very reasonable slippage.
Trading on CNS's VPS in NYC with latency around 1-2ms.
I measure and track slippage file & historical spread for all my live trades under various brokers. I can provide this data if needed.
Regards,
Mick

scan of my MT4 slippage file (spread + slippage):
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My offers: FXCM $4.99/RT, VantageFX $4.30/RT, ICMarkets AU$5.50/RT - PM me!
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