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Thebigmo Oct 12, 2006 2:38am | Post# 1

FXCM Discussion
 
1 Attachment(s)
I downloaded metatrader from spot trader(coefx.com), its pretty good, does not fail on me. I am using FXCM demo. Yesterday i started a transaction on the eur/jpy. Ihad the stop loss at 149.99. Now the chart never made it to 149.99 but the FXCM chose to stop me at 149.99. I even downloaded some free FXCM charts from their website to see if the chart they have indicated the price touched 149.99 after i started my transaction. It did not. I staeted my transaction exactly 5 pm US central time(9pm GMT). Another transaction stopped me at 149.98, also Eur/Jpy yet it never reached that from the chart. The most it reached after i started my transaction was 149.97.

The red arrow is when i got my signal(8emacrossing 51ema). The red tick is when i entered the trade and yet it stopped me at .99 although it never reached it after my entry according to both the metatrader and the fxcm free charts.

7251715 00395016 EUR/JPY 200 S 149.94 149.99 -10 -83.50 0.00 0.00 10/11/2006 19:07 10/11/2006 19:17

7251479 00395016 EUR/JPY 200 S 149.90 149.99 -18 -150.30 0.00 0.00 10/11/2006 18:45 10/11/2006 19:02


Whats going on here?
Name:  eur-jpy.gif
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Thebigmo Oct 12, 2006 2:41am | Post# 2

In fact right now the metatrader says price is 149.70 yet the FXCM trading platform has the close price at 149.76!

ignatius Oct 12, 2006 2:59pm | Post# 3

The question to ask here is is meta-trader displaying the "correct price" or is FXCM?

Looking at the way the FX market works, being over the counter, looking at one dealer won't give you an idea of where hte markets at. I would recommend trying S&P Comstock, EBS, or Bloomberg which would be a more reliable source to check your prices against since this is where the major banks are trading. Meta Trader is simply a platform that retail shops plug their prices into, so if a small retail firm plugs in a low tier bank versus another that plugs in a 1 tier bank it will make a difference.

mrmikal Oct 12, 2006 4:40pm | Post# 4

Did you factor in the spread? don't forget that the chart shown by most vendors are the BID charts (not the price charts), so the ASK (which is where your stop loss would have triggered) would be ABOVE the price shown.

learningtheropes Oct 12, 2006 5:05pm | Post# 5

not good with volatlity...
 
I use FXCM for my "non-news release" trades (I"m intraday with the expection that I have to hold a position overnite sometimes), and I have no problems with them for that. I use Fxsol at news time...no probs there either. I have live accts at each.

As far as charts: mine are from Fxtrainer with an FXCM feed, and I also keep up a free chart from net dania with an FXCM feed on it b/c I'm a little paranoid too. I trade from my home and also from my office using 2 computers (IE seperate IP addresses).

My conclusion: FXCM is not out to get me, b/c I have not found one instance when I check all the feeds from the 2 computers and see the price is always right on (however, most of my stops are mental and I manually take any losses).................so, if they are screwing someone....it would have to be everyone in my mind!!!!

My last thought: even though I'm paranoid, I think other people are more paranoid than myself, especially when they sight a possible conspiracy on their demo (not flaming you sir ).......coz in my mind, if they were out to "steal" my money, then the demo should be designed to make me think I'm a winner so I dump my life savings into a live acct and blow it all there with their trickery....screwing people on demos has never made sense to me.

That's my 2 pips,
Jim

Thebigmo Oct 13, 2006 6:54am | Post# 6

Just curious is there a difference in the FXCM demo platform from the stop and the stop move. I use stop move, maybe thats why

learningtheropes Oct 13, 2006 7:10am | Post# 7

Just curious is there a difference in the FXCM demo platform from the stop and the stop move. I use stop move, maybe thats why
The stop move is FXCM's version of a trailing stop...........all functions are exactly the same whether it is a demo or a live acct.

does that help?

Thebigmo Oct 13, 2006 8:51am | Post# 8

Did you factor in the spread? don't forget that the chart shown by most vendors are the BID charts (not the price charts), so the ASK (which is where your stop loss would have triggered) would be ABOVE the price shown.
I watch the MT4 charts and then trade. The problem is that there is a discrepancy. Watching bloomberg is OK but i profit or loose according to my broker and not the "real price" change. The only way i guess is to use the broker's charts. But then the question will there be a discrepancy between their charts and their platform price. Remember its the platform price that makes the transactions.

What charts you all use?

learningtheropes Oct 13, 2006 9:04am | Post# 9

As far as charts: mine are from Fxtrainer with an FXCM feed, and I also keep up a free chart from net dania with an FXCM feed on it b/c I'm a little paranoid too. I trade from my home and also from my office using 2 computers (IE seperate IP addresses).

My conclusion: FXCM is not out to get me, b/c I have not found one instance when I check all the feeds from the 2 computers and see the price is always right on (however, most of my stops are mental and I manually take any losses).................so, if they are screwing someone....it would have to be everyone in my mind!!!!

Jim
Hey Mo, yes, best to go by charts that incorporate the FXCM feed......if I'm reading correctly, you still seem concerned that the platform price will not correspond with the chart price? I honestly don't think that is the case in the 2 charts mentioned above that I have up constantly.....the platform price is always right on...........unless it is during HIGH volatility.....at which point it's almost impossible to cross reference both......but again, my opinion is not to mess with trying to enter a position or keeping a position open with a stop loss during news time with FXCM............I'm telling you if you avoid those 2 scenarios, you will not have a problem.

Do you disagree......please share, as it could affect my wallet too???
-Jim

PS, I have no experience with metatrader, but maybe that's an issue too.....you can't rely on the FXCM platform while working with Metatrader.....of course, I have no idea if that's even a feasible conclusion since I don't do MT

Thebigmo Oct 14, 2006 3:41am | Post# 10

Yeah i agree, i have had it with news. Its only when the news breaks out that you find out your a nobody in a big man's game and prices just move 20 or 30 pips like mad. I get stopped out and the big boys don't bother cause most of the time its not their own money and plus they have huge capital with huge stop losses.


I now will use both, fxcm powerstation and mt4 chart, since the mt4 is easier to read and control, but will use the fxcm powerstation for actual price and exit and entry points.

sps8 Oct 15, 2006 6:32pm | Post# 11

THIS GUYS A BUNCH OF THIEVES,it always hunting for your stoploss,they a requote and big slippage,i lost all my money cus their platform freezing,you can,t close your posithion when you are in profite yoy have to try several times ,to get out of trade,i closed my account with them, AVOID

BurgerKing Oct 16, 2006 1:38am | Post# 12

THIS GUYS A BUNCH OF THIEVES,it always hunting for your stoploss,they a requote and big slippage,i lost all my money cus their platform freezing,you can,t close your posithion when you are in profite yoy have to try several times ,to get out of trade,i closed my account with them, AVOID
ditto.

but fxcm is better than gft.

kenyantrader Oct 16, 2006 2:51am | Post# 13

ditto.

but fxcm is better than gft.
Comparing two th...
You mean better is one who takes less.

kenyan

learningtheropes Oct 16, 2006 4:06am | Post# 14

One More Time.....
 
THIS GUYS A BUNCH OF THIEVES,it always hunting for your stoploss,they a requote and big slippage,i lost all my money cus their platform freezing,you can,t close your posithion when you are in profite yoy have to try several times ,to get out of trade,i closed my account with them, AVOID
1- Do not use FXCM to trade news...........their policies will forbid you to do it successfully...............hardly think that makes them Thieves!?!?!?

2- Besides a situation relative to statement #1, can anyone offer any constructive arguement verifying how FXCM steals money????? Regardless of your platform, I suggest never placing stop losses at psychological barriers or right at R/S lines...........you will lose $$ with any broker then, IMHO!!

3- If you are a momentum or position trader, the problems that occur during high volatility, most likely will not affect your momentum or position trading strategy.

4- I don't work for, nor am I in love with FXCM, but I think they get a bad rap on this forum, and it seems to always have something to do with trading the news.........again, they are not a good news trading platform!!!

5- I trade news with Fxsol, and have a process that works for me using their platform.........I use FXCM for my momentum/intraday trades b/c I just like their platform more than anyone elses, plus, I believe it is more likely for them to not disappear into the night...........that is what I would define as "reliability" per the main question in this thread.

By all means, if anyone can share a specific example of what a monster this broker is (besides at a time of a major news event)....please share, as this could affect my wallet in the end?????

Thanks!

learningtheropes Oct 16, 2006 4:30am | Post# 15

I am using FXCM demo. Yesterday i started a transaction on the eur/jpy. Ihad the stop loss at 149.99. Now the chart never made it to 149.99 but the FXCM chose to stop me at 149.99. I even downloaded some free FXCM charts from their website to see if the chart they have indicated the price touched 149.99 after i started my transaction. It did not. I staeted my transaction exactly 5 pm US central time(9pm GMT).

7251715 00395016 EUR/JPY 200 S 149.94 149.99 -10 -83.50 0.00 0.00 10/11/2006 19:07 10/11/2006 19:17

7251479 00395016 EUR/JPY 200 S 149.90 149.99 -18 -150.30 0.00 0.00 10/11/2006 18:45 10/11/2006 19:02


Whats going on here?

Also, Bigmo, your trades were sells, and there is a 4 pip spread to trade EUR/JPY with FXCM.......would I be wrong in concluding that you were stopped somewhere between 6:00-6:05 pm CST??

On a 5 min chart, the price goes to 149.96......take that price +4 pips, and the demo platform on FXCM would of said your "Close Price" is 150.00.........although you would of never seen that particular "close price" in your open position window b/c you were stopped at 149.99.

IMHO, the only way you would not of been stopped is if the actual price on a FXCM chart never exceeded 149.94.........do you think what I described is the case? Did you consider that YOUR price is actually 4 pips higher than than what the chart says because of the spread to sell the pair?

Hope this turns on a light bulb for you.......lemme know?

sps8 Oct 16, 2006 5:06am | Post# 16

1- Do not use FXCM to trade news...........their policies will forbid you to do it successfully...............hardly think that makes them Thieves!?!?!?

2- Besides a situation relative to statement #1, can anyone offer any constructive arguement verifying how FXCM steals money????? Regardless of your platform, I suggest never placing stop losses at psychological barriers or right at R/S lines...........you will lose $$ with any broker then, IMHO!!

3- If you are a momentum or position trader, the problems that occur during high volatility, most likely will not affect your momentum or position trading strategy.

4- I don't work for, nor am I in love with FXCM, but I think they get a bad rap on this forum, and it seems to always have something to do with trading the news.........again, they are not a good news trading platform!!!

5- I trade news with Fxsol, and have a process that works for me using their platform.........I use FXCM for my momentum/intraday trades b/c I just like their platform more than anyone elses, plus, I believe it is more likely for them to not disappear into the night...........that is what I would define as "reliability" per the main question in this thread.

By all means, if anyone can share a specific example of what a monster this broker is (besides at a time of a major news event)....please share, as this could affect my wallet in the end?????

Thanks!
if you want to learn more about fxcm.plesae check this link they are at scam section. Link removed by moderator

learningtheropes Oct 16, 2006 6:33am | Post# 17

Thanks for the link, I did read many of the reviews on FXCM (as well as others, like ACM,Coesfx and GCI) , and I have to still conclude that FXCM isn't as horrible as made out. This is supported by several posters on there (mixed in with the complainers) that have said much of the same things as I have?

I'm willing to bet if I created a bogus review about Oanda (for example) to this site, a bunch of people would chime in and call them a scam too...........should I try it??? And why is it always that these so-called review websites always have something to sell themselves?????

I've had a live account with FXCM for almost 4yrs now, but only tried news trading since this past June.....that's when I began to figure out that their policies make them unworkable during big news releases, thus I opened an additional accout with fxsol just for that kind of trading. Oanda was also another company I have considered for news trading......

I'm not a full-time trader, and I'm not tading huge lots thru my live FXCM acct, so maybe I'm too small of a fish for them to spear........they must be waiting for me to grow into a bigger fish first (LOL)

Also, I have a buddy that does all his trading on Fxsol, and we often trade together while chatting thru Skype............NEVER, do the prices we note to each other EVER differ by more than 1 pip...............why is that? Is Fxsol just as bad as FXCM???

All I can say is that I've been live trading off and on for 4yrs, and my trading has matured to the point in the last 6 months that I feel I can discriminate between my mistakes that lead me to lose money in the past, vs. the fact that I am slowly and quietly profiting on 2 seperate live accounts, with 2 seperate retail brokers, however, using 2 different technics to trade on each. It would of been less productive, it turns out, to blame the broker for my loses, vs. owning up to the fact that I did a lot of bonehead things when I did lose money!

It is true that nothing is perfect with any platform, it's all a matter of taste and trading style that makes a broker a "liveable" for each individual trader. These all-in, broad-stroke, broker bashes (regardless of which on is being bashed) are not constructive.

Long and Short, if the FXCM demo "stole" the Bigmo's money, vs. maybe Bigmo not fully undertanding their platform, then FXCM must be dumb thieves..........wouldn't I want Bigmo to do reeeaaalllly well on the demo, then screw him when he goes live?????

Maybe I'm the criminal for thinking this way: .......OK, I'm off my soapbox now.

If anyone wants to learn more about FXCM besides a 1-2 sentence bitch-fest, feel free to email or PM me.

sps8 Oct 16, 2006 1:04pm | Post# 18

yep,you absolutly right what you said here,as became my account bigger,they did eveything to get account on manual, my freind did make 9000 euro,on position was open on gbp he is trading abig lots,guss what platform does,t recorded this position after he closed it.he called them to notify a bout it,they said no position was opened at all.

learningtheropes Oct 16, 2006 1:51pm | Post# 19

yep,you absolutly right what you said here,as became my account bigger,they did eveything to get account on manual, my freind did make 9000 euro,on position was open on gbp he is trading abig lots,guss what platform does,t recorded this position after he closed it.he called them to notify a bout it,they said no position was opened at all.
Well, thanks for the advice, I will track all my trades to make sure it doesn't happen to me. When they feel the need to put me on manual, I will simply close the account. Other than that, I am good for now.

Hope our exchange has helped the bigmo out in some way?!

-Jim

hidethereal Oct 16, 2006 2:49pm | Post# 20

if you want to learn more about fxcm.plesae check this link they are at scam section.www.forexbastards.com if not work copy and past
I would be weary of a review site ran by someone who is marketing their own product.

My 2 cents.

learningtheropes Oct 16, 2006 3:14pm | Post# 21

I would be weary of a review site ran by someone who is marketing their own product.

My 2 cents.
That's what I said, thanks!

Thebigmo Oct 17, 2006 4:28am | Post# 22

Also, Bigmo, your trades were sells, and there is a 4 pip spread to trade EUR/JPY with FXCM.......would I be wrong in concluding that you were stopped somewhere between 6:00-6:05 pm CST??

On a 5 min chart, the price goes to 149.96......take that price +4 pips, and the demo platform on FXCM would of said your "Close Price" is 150.00.........although you would of never seen that particular "close price" in your open position window b/c you were stopped at 149.99.

IMHO, the only way you would not of been stopped is if the actual price on a FXCM chart never exceeded 149.94.........do you think what I described is the case? Did you consider that YOUR price is actually 4 pips higher than than what the chart says because of the spread to sell the pair?

Hope this turns on a light bulb for you.......lemme know?
Hmm? I never heard that before. So what you are saying is that the price in the 5 min chart could actually quickly rise and fall without affecting the platform price but you will get stopped anyway?

learningtheropes Oct 17, 2006 4:59pm | Post# 23

Hmm? I never heard that before. So what you are saying is that the price in the 5 min chart could actually quickly rise and fall without affecting the platform price but you will get stopped anyway?
No, what I'm saying is that if you refer back to the 5 min chart, the high during the 6:05 pm CST candle was 149.96, and at whatever instant (or possible various instants) price touched that level during that 5 min candle, your actual price (due to the 4 pip spread added to your sell price) is really 150.00. Since you had a stop set at 149.99, all the price on the chart had to do is hit 149.95 in order for you to be stopped out.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

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If this is starting to make sense than the advice is to add your spread on top of the actual chart/screen sell price to determine a proper stop loss. Your stop should of been set at 150.03 per your strategy.<o></o>

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Conversely, if you went Long on their platform, your Buy price would already have 4 pips added in above what you see on the chart with their price feed, so the chart price actually has to go 4 pips below your platform Buy price b/4 you would be stopped.......if you compare a Sell vs. a Buy, it's wash.

Thebigmo Oct 18, 2006 4:15am | Post# 24

I got what you are saying.

I tried Fxsol but the platform is not user friendly as FXCM, maybe i should get myself to get used to it.

Is the only difference the news trading, with fxsol being more reliable in that. Or is there something else. The problem is i am in love with mT4 chart and i don't quite enjoy FXCM powerstation but i fear using a chart not operated or data fed by the broker i trade with.

learningtheropes Oct 18, 2006 3:58pm | Post# 25

I got what you are saying.

I tried Fxsol but the platform is not user friendly as FXCM, maybe i should get myself to get used to it.

Is the only difference the news trading, with fxsol being more reliable in that. Or is there something else. The problem is i am in love with mT4 chart and i don't quite enjoy FXCM powerstation but i fear using a chart not operated or data fed by the broker i trade with.

I agree that fxcm is more user friendly and visually appealing vs. fxsol, but I think you can adapt to any platform with practice. The only thing(s) that keep me trading at fxcm are:
1- very well known
2- financially solvent
3- my charts from fxtrainer allow me to use fxcm or fxsol data feed as a log-in feature (I agree it is wise to have the platform and charts match!!)
4- familiarity (been with them for 4 years)
5- haven't stolen any of MY money (I mean the real $$, not just demo)
6- it's been said that you should have more than one active account just in case any of the above should go awry. (i.e. If I felt there were daunting issues with fxcm and I wanted to pull the plug, at least I can still make some trades over at fxsol while tying up the loose ends closing with fxcm)

Thebigmo Oct 19, 2006 3:45am | Post# 26

Does fxtrainer charge money? How do you instal the FXCM data feed? Do they have a website?

learningtheropes Oct 19, 2006 6:30pm | Post# 27

Does fxtrainer charge money? How do you instal the FXCM data feed? Do they have a website?
To be honest....I have a "special" arrangement going on as far as my charts, so I do not know the answer to your questions??

However, if you still want the FXCM feed and go to the FXCM website. Look under Trading Tools, then Charts...they offer several options. Some are free and some have monthly fees, but those with a monthly fee seem to all come with at least a 7 day trial.

Most are a java script, which is a pretty easy download, as long as your pc isn't running windows 98 or something!!!

The one I believe that is closest in look, feel, and functionality to what I am using is the Fxtrek Intellicharts......they run $40/mo with 7 days free.

Did I cover everything.....let me know if you need anything else?

newlife Oct 27, 2006 8:13pm | Post# 28

fxcm demo acct
 
First I just want to say hi to everyone since I'm a newbie on here. The amount of knowledge and info I've gotten off of hear has been great. I just had a question about fxcm. I'm currently using their demo acct and it seems like every Friday around this time(8pm est) I can't get into my account. I'd like to get in and close my positions but when I try to log on I keep getting a "The connection with the server has been reset" error. I just wanted to see if anyone else has this issue(live or demo). I don't want to run into this problem when I decide to do this live. (I'm sure I probably will though).

Thanks

sergiu Oct 27, 2006 8:43pm | Post# 29

`
First I just want to say hi to everyone since I'm a newbie on here. The amount of knowledge and info I've gotten off of hear has been great. I just had a question about fxcm. I'm currently using their demo acct and it seems like every Friday around this time(8pm est) I can't get into my account. I'd like to get in and close my positions but when I try to log on I keep getting a "The connection with the server has been reset" error. I just wanted to see if anyone else has this issue(live or demo). I don't want to run into this problem when I decide to do this live. (I'm sure I probably will though).

Thanks
All trading ceases around 5 pm est. on friday and resumes at 5pm est on sunday. So in this time even if you would be able to log in you still can not close, open or change anything about any position you my have. It is like that with all brokers. Some brokers will allow you to do that with a demo account but no one does it with a live one. Also they might do maintanace work on their servers in this time period which might explain your log in issues. Hope this helps!
Sergiu

nitman Oct 27, 2006 9:00pm | Post# 30

Try to not loss as money as I did with FXCM. I suggest opening an account with Oanda and take advantage of smaller lot size like $0.25/pip or which ever increment you want. You can buy/sell and do whatever you want on the weekend. But the spread widen over the weekend ...

learningtheropes Oct 28, 2006 2:14am | Post# 31

Try to not loss as money as I did with FXCM. I suggest opening an account with Oanda and take advantage of smaller lot size like $0.25/pip or which ever increment you want. You can buy/sell and do whatever you want on the weekend. But the spread widen over the weekend ...
So all this makes FXCM a bad broker and all traders lose money, or does the setup on Oanda just suit your needs better? Please explain in factual detail how FXCM "robbed" you if you believe that is what happened........I've been waiting a long time to tell a story with some actual facts....please, be the 1st?

BTW- not saying FXCM is the best or incredibly wonderful, but I think they get unfair press on this forum from those whoe like to cry foul.....IMHO

Tiki Trader Oct 28, 2006 3:22pm | Post# 32

Fxcm
 
I would do just like nitman says !!!! Get OUT of FXCM !!! You will lose all your money there !!! Especially since you are new.... study up first before you ever use them... the info is out there... it is even right here in the forums !!! Just take everyone's word for it...

FXCM does not let you in on Friday evening because that is when they are down for their updates and maintanence etc...

But believe me !!! FXCM is not the place to be... go to Oanda !!! the difference is like night and day... just have to learn the new platform which in the end you will like far more than FXCM... and biggest plus with Oanda is that you can trade a penny at a time if you wish... not so with FXCM. So when you really start trading and find out you will lose... at leats with Oanda you can cut down your trade size to whatever you want.

jrod Oct 28, 2006 4:15pm | Post# 33

i know in fxsol you can get in your demo account and live account whenever you want to. and they have a .10 cent pip account. which is tha path im heading toward

FX RE Oct 28, 2006 4:26pm | Post# 34

Having managed accounts for clients, who were in the business of raising and trading capital, I have run by many of the well known retail FX providers. One of them was FXCM, which worked well for my client , since they had a good volume rebate and spread widening program. This worked well, since the client had no special interest in actually winning trades, but rather blow thru volumes to make their money. When I got a hold of this account they had realized more than a 50% drawdown and were obviously feeling the losses thru their reduced weekly volumes. Since these retail FX providers usually make their money by making a market against you, they are not too happy when a client wins a significant amount of money. So the reality was that it would be a matter of time until FXCM realized there had been a change in the performance of this account and implement the tools they have at their disposal to prevent a negative outcome for themselves. It is funny to note that as the account started to grow, things started to happen like rejected trades, or no fills on orders. There is nothing worse than having a good trade executed so improperly that you end up with the completely opposite result. By the time it got to the point that FXCM would have netted out a negative outcome, meaning that all the commissions plus the balance would be higher than the initial deposit, they actually shut down my access to the platform, based on my IP address. Not to mention that they started to call the clients of my client to inform them of the spread widening feature which had been in place. The bottomline is that the biggest concern, when it comes to trading, should be the market , not your liquidity provider. Credit risk is a big factor when choosing a broker, so never trade more than your counterparty has available to pay out. For most , that is not an issue, but when you manage money on a performance basis, like I do, you have to accept higher spreads, use banks as counter parties and stay away from the retail brokers. However, for accounts under 1M , on a private level, I would have to give Oanda the thumbs up.They have excellent spreads on their FX pairs and trouble-free execution. The only negative with them is that this year they started to implement extremely wide spreads at data release times. Aside from that, they are the fairest I have seen that is available to the independent trader.

Tiki Trader Oct 28, 2006 4:45pm | Post# 35

Not to mention that Oanda is on the up and up... you can look right there on the screen and see the spread... unlike FXCM when the spread wideens.


But FXCM has a whole bag of tricks and the will get the moeny form you ESPECILLY if you are new

I did not believe what I heard or read about FXCM... I blindly thought it just could not all be true... I found out the hard way and it hurt !!!

I do not claim to be a great trader... but I seem to have no problems on Oanda...

Trading is hard enough... why deal with a broker thatis against you? You won't win

smjones Oct 28, 2006 4:56pm | Post# 36

FXCM is being discussed here.

http://www.forexfactory.com/forexfor...highlight=FXCM

Thanks

sjar282 Nov 2, 2006 9:34pm | Post# 37

do thier signals realiable too
 
hi, I'm already 5 months in the world of forex. I've been demo and also live ..(now in the progress to change brokers ) but I'm really intreasted in FXCM services such as the mini accounts voume and they do providing a signals and they have a auto trading services..
please do consultme about thier services are they really reliable especilly the signals because I'm a part time trader and hate to lose the opputunity to trade especially I'm in GMT time zone ... and with a really unfortuned event last two weeks my server provider broke down so I would lilke to find out about any auto trading services.. and it trrigerd me with this forum
please do help me ( I'm strated getting headache and my pocket in tear off)

sachin Nov 7, 2006 5:13pm | Post# 38

If i say abt myself, I realy have lost confidence on FXCM.
After hearing somuch abt it.


I downloaded metatrader from spot trader(coefx.com), its pretty good, does not fail on me. I am using FXCM demo. Yesterday i started a transaction on the eur/jpy. Ihad the stop loss at 149.99. Now the chart never made it to 149.99 but the FXCM chose to stop me at 149.99. I even downloaded some free FXCM charts from their website to see if the chart they have indicated the price touched 149.99 after i started my transaction. It did not. I staeted my transaction exactly 5 pm US central time(9pm GMT). Another transaction stopped me at 149.98, also Eur/Jpy yet it never reached that from the chart. The most it reached after i started my transaction was 149.97.

The red arrow is when i got my signal(8emacrossing 51ema). The red tick is when i entered the trade and yet it stopped me at .99 although it never reached it after my entry according to both the metatrader and the fxcm free charts.

7251715 00395016 EUR/JPY 200 S 149.94 149.99 -10 -83.50 0.00 0.00 10/11/2006 19:07 10/11/2006 19:17

7251479 00395016 EUR/JPY 200 S 149.90 149.99 -18 -150.30 0.00 0.00 10/11/2006 18:45 10/11/2006 19:02


Whats going on here?

Daje Nov 7, 2006 7:22pm | Post# 39

the FXCM bash
 
THIS GUYS A BUNCH OF THIEVES,it always hunting for your stoploss,they a requote and big slippage,i lost all my money cus their platform freezing,you can,t close your posithion when you are in profite yoy have to try several times ,to get out of trade,i closed my account with them, AVOID
Re freezing. Yes it does freeze if firewall settings are not correct. I use Norton latest version and fixed the problem by resetting personal firewall from 'custom' to 'allow' for their .exe file. Odd, fiddly and not customer oriented as a problem goes, but nothing sinister..

I have been using FXCM for 18 months. I trade a mini as a part time trader. My account has been up 100% but currently down 50%, probably placed a couple of hundred trades. Yes they grab your stops if they are too close (but swap the word stop for the word limit and you have the same 'problem'). So, you can play that to your advantage if it would indulge you.

Yes the news times are hazardous, but generally within tight time periods. FXCM used to issue warnings (ie trades cant be gauranteed during news) by message, but they have recently stopped doing that for some reason.

The only other problems are that when you shut down the system, if you have a trade confirmation request open, it puts you in the trade without confirming. So be careful you dont place trades that you dont want to double click through (ie only go the first click as its too easy to click "Yes" as you want to shut down). This problem actually gained me $300 the first time, but lost me $200 and $150 the two times after that.

Have heard stories of accounts being 'switched to manual' am watching for it but hasnt happened to me. If i see any hard evidence of trickery Im outta there.

BurgerKing Nov 7, 2006 7:51pm | Post# 40

Comparing two th...
You mean better is one who takes less.

kenyan
From my experience:

FXCM either slips you or delay execution of your order (@ your price) but not both.

GFT will slip and delay execution (2-5 minutes) to make sure you get the worse price and when the market has already reversed! Talk with other traders who traded news using GFT and you'll understand what I mean..

GFT dont want news traders.. given the not-so-tight spreads, why would I bother trading Technicals with GFT when I can get 1 pip spread with OANDA?


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