do FXCM have any limitation or any maximum amount from account withdrawals?
This is the third weekend in the last few weeks that I have been unable to access my FXCM account on MT4.
It started around the time of the Mt4 update.
Is this a general all-account issue or problem? Or is it just a few accounts it affects?
is there any reason behind it?
Will it now become a regular thing with this MT4 update that we will be unable to access accounts on weekends?
I generally use weekends or Saturdays to perform planning and assess previous weeks trades. So it is quite an inconvenience.
Thanks in advance for any information or advice you can give.
Hi Jason, What is happening with FXCode Base? I have not been able to access it for 2 days. AG
MetaQuotes pretty much f...ed up MT4 in the last upgrade to Build 600 and is currently in the process to glue the shards together they've produced.
They released Build 600, Build 604, Build 610 - and upcoming Build 613 in four weeks!
This is what most professionals and I call beta testing.
Personally I do not enter any trade on real money in MT4 >=Build 600 until MetaQuotes gets their act together and am keeping B509 as long as it works.
How do you think about using Tradestation?
Thanks for the response. I know of at least 1 other FXCM customer having the same weekend connection issues, but have not heard if any other MT4 users on different brokers have the same problem? That's why I assumed it was a broker issue, rather than MQ/MT4.
I am very disappointed in MQ and their update to MT4. It worked perfectly prior to update, yet now the update seems to have made things a lot more complicated and difficult completely unnecessarily. You would think that a professional company would have tested such a large scale update extensively prior to releasing it to general public/brokers and customers.
I will look in to TradeStation this week when I have time. I am not sure if TS offers the same ability to enter scripts or automated trade management capabilities like Expert Advisers as in MT4?
FCA best execution review puts 40 firms under spotlight
Author: Robert Mackenzie Smith
Source: FX Week | 06 Mar 2014
The FCA's review into best execution practices is set to reveal further malpractice in the retail FX market, say participants
Up to 40 firms, including some retail foreign exchange brokers, are under investigation in the UK Financial Conduct Authority's (FCA) thematic review into best execution practices across a variety of different markets.
FXCM, which was fined for not passing on price improvements from slippage to clients, is not alone in this camp, according to Lorraine Bay, partner at financial consulting firm Moore Stephens in London.
file:///C:\Users\Astron\AppData\Local\Temp\ msohtmlclip1\01\clip_image001.jpgTh e mere fact the FCA is doing a thematic review means a number of other firms are undertaking exactly the same practice
"The mere fact the FCA is doing a thematic review means a number of other firms are undertaking exactly the same practice. Where they have found this, I expect a number of firms to face a similar punishment that FXCM has," she says, adding that firms whose best execution practices are found to be below par will be expected to review past business practices and carry out redress exercises.
The review, which was announced in the FCA's latest Market Watch and in the press release detailing FXCM UK's fine of £4 million on February 26 for failure to provide best execution to its clients, explores in more detail what is expected of companies under best execution guidelines.
"Brokers in certain markets, including regulated CFD [contracts for difference] and spread-bet firms and those offering rolling spot forex contracts for difference, may be failing to recognise that their activities fall within the scope of the best execution rules," says the FCA's newsletter, released last month.
The guidance, which is not new, includes the condition that "positive price movements between the submission of an order and its execution are passed on to the client, and that firms are not seeking to retain any slippage in the clients' favour".
FX Week contacted a number of firms in the retail FX market to find out whether they adhered to the FCA's guidance on best execution for their clients. Oanda chief executive Ed Eger said he was comfortable with how the company executes trades, while Cypriot broker FxPro said it passed on price improvements to customers.
"Oanda has never been fined in any of the five jurisdictions it operates in around the world, and we believe we adhere to all the guidelines of best execution the FCA put in its Market Watch report. We are also very pleased the FCA is looking at practices in the retail FX market, as we believe there are some brokers who do not operate with the same level of transparency as we do," Eger says.
"FxPro welcomes the FCA's review of best execution and any action that is taken in the best interests of retail clients," says Charalambos Psimolophitis, chief executive at FxPro. "Being an agency model broker means it is in our interests to see our clients profit, and we believe this to be the best method of trade execution as it removes any conflict of interest you might otherwise have with clients if you are a market-maker."
CMC Markets, IG Index and VantageFX were unable to be reached for comment. The FCA's review is expected to be completed by the end of the second quarter.
There is no limit on the number of account withdrawals you can make from your FXCM account. Your equity is available for you to withdraw via MyFXCM.com anytime 24 hours a day. One thing to keep in mind if you have open positions in your account is that you should leave yourself with enough margin for your trades when submitting your withdrawal request. Take note of your Usable Margin (Usbl Mr in the Accounts window of the Trading Station platform) to determine how much you can comfortably withdraw.
Since when do we get charged 59USD rollover fee for 2 minilots on Dow Jones ?? Already filled in the form but this is just not right man mistakes like this ??? I remember asking if rollover got deducted once per day, answer was yes. However today they it seems they deducted full amount as from opening position !?
6 pip slippage in and out of every trade is what i am experiencing, anyone experiencing that?
Also, I'm wondering if you might be looking at old prices due to some connection delay. I notice your forum profile mentions that you live in the Vatican. One way to check the quality of your connection to FXCM is to ping one of our servers from your computer.
Please follow these steps to trace the route to FXCM's server.
1) Click on this link https://files.fxcorporate.com/traceroute.bat
• If using Internet Explorer > Click Run.
• If using Firefox or Chrome > Save File, Open File, > click Run
2) Wait up to 60 seconds for the black screen to disappear and for notepad file to appear.
3) Copy the contents of the notepad file into an e-mail, along with a brief description of the issue, and send it to firstname.lastname@example.org. Please reply to this post when you've sent the email and I'll ask our tech support team to look at it straightaway.
While we determine what's happening, one thing you can do to minimize your slippage* is to use the Market Range feature on Trading Station (MT4 has a similar feature called Maximum Deviation**). A Market Range order type allows you to control the amount of slippage your order can receive when it executes allowing for price certainty (see image below).
A Market Range of "X" pips assures that all or part of your order will be filled within a "X" pip range of the current market price ("X" pips above or "X" pips below) if liquidity is available.
* While the Market Range feature on Trading Station limits your negative slippage, you will still be able to receive the full benefit of any price improvements.
** Maximum Deviation on MT4 is displayed in tenths of a pip. That means if you want a Max Dev of 3 pips, then you would type "30".
Fine, let me point out that while chatting with "Henry" from the chat service he twice rudely mentioned to fill out a form (which I did), he declined to give any info at all.... I am used to better service from FXCM ! Henry needs obviously needs to be retrained......North Korea springs to mind.
I will be waiting for that email and adjustment to account balance.
In my case they have deducted 30.2$ for each minilot !
I checked with our techs and they confirmed that no changes have been made to MT4 on our end. You mentioned that these weekend charting problems began after you updated to MT4 Build 600+. It's possible that some changes made by MetaQuotes for the new builds affected how weekend charts are loaded. I'm hoping that's not the case though.
I haven't tried loading MT4 charts on over the weekend recently, but here are some things I would try. I'm wondering if when you installed the latest version of MT4, your previous historical data was affected. When you load charts over the weekend, MT4 uses your historical data to display those charts. Perhaps MT4 is not pulling your historical data correctly.
1. Go to Tools > History Center.
2. Select a currency pair, then select a time frame for which you'd like to be able to view weekend charts.
3. Check on the right hand side if there is any price data for this time frame.
4a. If not, then skip to step 5.
4b. If there already is data, then select all of it (hold shift to select multiple rows) and delete it.
5. Try loading fresh data by double clicking on the time frame on the left hand side.
6. Close the History Center.
7. Go to File > Open Offline and open an offline chart.
I'm thinking if you can load an offline chart now, that might mean you'll be able to load one this weekend. Hope that helps. Please let me know either way.
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