FXCM's DailyFX+ to expand & include Forex Stream & Bloomberg TV

Just FYI. Here is what i've learned just now:

"We Are Expanding DailyFX+
We are expanding DailyFX+ to include 24 Hour Bloomberg TV and the DailyFX Forex Stream. These services are designed to provide you with direct, tradable news analysis IN TIME TO TRADE ON IT. The Forex Stream is composed of breaking forex news headlines and signed, opinionated real-time market analysis. While these services will not be replacing our current market news, IFR Markets, until May 29th, they are available to you now by following the links below:
DailyFX Forex Stream, Bloomberg TV "

New DailyFX Plus

Now with Bloomberg TV and Live Trade Alerts

For Immediate Release:
Media Contact: Jaclyn Sales, [email protected]
New York, May 27, 2009FXCM Holdings LLC (www.fxcm.com) announced today a major expansion of DailyFX Plus. Now, in addition to Trading Signals, the Technical Analyzer and SSI order flow intelligence, DailyFX Plus offers you two new services―Bloomberg TV and Forex Stream.
Forex Stream, staffed by the DailyFX team of nine analysts, offers you real time market analysis focused specifically on intraday trading opportunities. This new service, which has been in development since 2008,replaces the Thomson IFR news feed.* http://forexstream.dailyfx.com/ or https://plus.dailyfx.com
Bloomberg TV. In our opinion, Bloomberg is unsurpassed for global, up-to-the-minute financial and economic news. As an integral part of DailyFX Plus, Bloomberg TV will stream real-time business news to you 24 hours a day, seven days a week. Its available now at https://plus.dailyfx.com
Forex Stream: This new FXCM service is specifically designed to supply you with direct, blunt, tradable news analysis―in time to trade on it. http://forexstream.dailyfx.com/
· Forex Stream provides signed, opinionated news analysis from the DailyFX analysts.
· Forex Stream comes at you fast, with short, cut-to-the-chase reports on price action and event impact― updated minute by minute around the clock.
· To save you time, it eliminates all information not immediately relevant to trading.
· It directs you to time-sensitive trading opportunities.
Open a live account for unlimited access to DailyFX Plus: http://www.fxcm.co.uk/open-an-account.jsp

FXCM Holdings, LLC Facts

1. FXCM Holdings LLC has over $100 Million in capital
2. More than 125,000 live accounts are traded on FXCM trading platforms
3. As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platforms
4. As of January 2009, an excess of $600 million in customer funds trading on platforms offered by FXCM

* For the last four years, we have been proud to provide Thomson’s excellent IFR news service as part of DailyFX Plus. Since our new service and IFR serve similar functions, however, we have decided to discontinue the IFR service.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.

jsales,
i hope FXCM does not discontinue the IFR news line. Let it be part of the client's menu/choices. Thanks

Bloody brilliant

Please send us feedback!


We want to know what reports you were looking for on IFR, DailyFX wants to know so they can provide similar reports if they are not already doing so.

I could also have a member of the Sales team go through DailyFX with you to find all the information you want and are looking for.

If there is anything else I can do to help, please do not hesitate to contact me.

Kindest,
Jaclyn Sales
[email protected]

We are missing the Order board and the New Stream from IFR. Those are the only reasons why I personally signed up with FXCM to begin with. If your taking suggestions then throw in an Options Maturity Calendar if you will, the source being IFR data of course.

The funniest part of this whole thing is that it is being pitched as an "expansion". As an active FXCM client the news feed from IFR was a significant part of my daily analysis routine. Replacing it with two things that were already either free (in the case of Bloomberg TV), or, mostly free (in the case of the "Daily FX Stream") seems both cheap and arrogant.

With the already sketchy nature of retail forex trading why is it so hard for brokers to understand that their clients want independent information? Whether it is charts or analytics, I want to get it from a third party. The addition of IFR had always seemed like a great way for FXCM to provide its clients with unbiased reporting and was a big reason that I have not looked too hard for another broker since moving over from Forex.com.

As I don't like feeling like I am playing a game of Three-Card Monty with my FX broker I think it is now in my best interest to look for another place to make my trades. I wonder if there are any FXCM clients who feel the same way...?

Well, if you really need IFR's news feed you could just open an account with Oanda for a few dollars using Paypal, and I think even demo accounts have access to IFR's news so maybe you only need to sign up for a demo and that's it.

Oanda is impractical for recording the data and the news window always seems to crash, although I already had an account with them(oanda) I opened an account with FXCM on the basis of the fact that others had recomended the way they presented the IFR Order board info and news.

My only choice is to go back to using Oanda and dump my FXCM account.

To the FXCM employee,
I dont think It possible for you to offer an equivalent substitute to IFR, and I consider the decision to 'get rid' very cheep.

Ricardo,

Two points:

First, you are right! I just checked it out myself - any account with Oanda will get one access to IFR. Now all they need to do is ditch their dealing desk business model...

Second, still a bad business decision in my opinion. Spinning the loss of something that is quite expensive for individual clients to purchase on their own, for the addition of something that those clients already (mostly) had for free anyway as an upgrade is laughable. At the least why not offer both and let the clients decide?

As I said in my original post, retail forex trading and the relationship between clients and brokers is already sketchy enough. Why do something, in a very shady way I might add, to rock the boat?

Wish I had seen this thread earlier. I made a complaint (when the changeover occurred) to an FXCM chat operator asking:

(1) Was the decision a cost cutting measure?
(2) Were FXCM's clients asked if they found IFR's news feed informative or not?
(3) Why was it discontinued?

The answers I received was that it wasn't a cost cutting measure, FXCM's clients weren't really consulted and it was discontinued because ..... wait for it .... IFR weren't trading their own trade calls. I do have an emailed copy of the chat I had with the operator but I can't put my finger on it at the moment.

In my opinion, the IFR news feed was and is far superior to the DailyFX Forexstream. I hardly look at the DailyFX Forexstream and have watched Bloomberg TV once since it was implemented. One of the first things that I looked at most days was the IFR newsfeed to quickly update myself on the market sentiment/news (especially on Sunday nights when I hadn't been able to peruse the internet for all the news announcements on the weekend). IFR filled in all the gaps.

I am more than disappointed that it has been discontinued but thanks to the poster for mentioning that Oanda provides this service. I keep meaning to open an account with Oanda anyway, so this just makes the decision easier.