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FXCM Micro Account Trading Environment Test

  • Post #1
  • Quote
  • First Post: Edited 12:59pm Oct 7, 2009 11:28am | Edited 12:59pm
After nearly 4 years of complaining about FXCM's trading environment, FXCM(JasonRogers) has agreed to let me Test trade their new and improved Micro Account thru their TradeStation(Micro) platform. It is a fairly simple agreement:

1. I get to trade a "LIVE" Micro Account for 90 days(from today 10-07-09) as a comparison test to their past trading environment. My biggest complaint in the past was platform "lock up" making trading difficult at best. This is not a test of my trading prowess(though that will be exposed as well-lol). This is a US based account and I will be using FIFO rules(my 1st experience with these new regs).

2. At the end of ninety days(or account liquidation) I get to keep any profits over initial deposit($500.00 US).

3. I will be posting my full experiences(trades/platform performance) once per week sometime between Market close on Friday and Market open on Sunday.

So far,FXCM(JasonRogers) have been as good as their word. I will do my best to offer an unbiased review of their Micro Account environment. Here we go!
FF = Forex Faggots
will await to hear your verdict.
I'm about to fund a live account on the spread betting side here in the UK so I will be keen to see how this test holds up.
FXCM micro was my worst experience in forex trading, they stop hunt you all the time, spreads jumps from 3-4 pips to 40, and they was executing pending orders that was removed a week before. Maybe the standard accounts dont have such things but i will never give them a chance.
Quoting 8fingers
After nearly 4 years of complaining about FXCM's trading environment, FXCM(JasonRogers) has agreed to let me Test trade their new and improved Micro Account thru their TradeStation(Micro) platform. It is a fairly simple agreement:

1. I get to trade a Micro Account for 90 days(from today 10-07-09) as a comparison test to their past trading environment. My biggest complaint in the past was platform "lock up" making trading difficult at best. This is not a test of my trading prowess(though that will be exposed as well-lol). This is a US...
Is it a live or demo account you are testing. Rightfully so, it sould be demo as I don't ever want to see traders testing out new platforms using their hard earned, real money. I personally think that its an unnessesary risk that could be avoided.

But if you are testing the platform out on a demo account, I think that is great the FXCM gave you access and cares about you opinio, well I think that is cool.
Quoting Jhig
Is it a live or demo account you are testing. Rightfully so, it sould be demo as I don't ever want to see traders testing out new platforms using their hard earned, real money. I personally think that its an unnessesary risk that could be avoided.

But if you are testing the platform out on a demo account, I think that is great the FXCM gave you access and cares about you opinio, well I think that is cool.
For transparency, this is a live account funded with FXCM's money which 8fingers will be using to test the live trading environment. If you are new to trading and wish to test FXCM's platform, please do so first in a demo account. Demos for FXCM micro are found here http://www.forexmicrolot.com/open-free-micro-portal.jsp .

Jason
This is not the correct way to test a product or a service.

FXCM does know which account you're testing, and they certainly can set up more favourable condition on a per-account basis. Remember the MT4 Virtual Dealer plugin? I can bet my a.s.s. that every trading platform today has per-account settings.

The correct methodology is a MISTERY SHOPPER TEST.
Open an account and test it for several weeks WITHOUT telling to anyone.
Then publish your results and conclusions.
Quoting jagui
This is not the correct way to test a product or a service.

FXCM does know which account you're testing, and they certainly can set up more favourable condition on a per-account basis. Remember the MT4 Virtual Dealer plugin? I can bet my a.s.s. that every trading platform today has per-account settings.

The correct methodology is a MISTERY SHOPPER TEST.
Open an account and test it for several weeks WITHOUT telling to anyone.
Then publish your results and conclusions.
I dont agree with you at all. I am still a very biased(bordering on hostile) ex-customer and know full well their trading environment from days past. I now have 2 current "LIVE" accounts(and 4 other closed accounts from different brokers) for further comparison. I will know if I am being given "special" treatment. Your statement is valid though. I have only to gain from this experience.
FF = Forex Faggots
Quoting jagui
This is not the correct way to test a product or a service.

FXCM does know which account you're testing, and they certainly can set up more favourable condition on a per-account basis. Remember the MT4 Virtual Dealer plugin? I can bet my a.s.s. that every trading platform today has per-account settings.

The correct methodology is a MISTERY SHOPPER TEST.
Open an account and test it for several weeks WITHOUT telling to anyone.
Then publish your results and conclusions.
Hi jagui,

All micro accounts are created with the same settings. Our micro setup is as automated as possible to cut down on costs (the savings which we can then pass on in the form of lower spreads). This is why all micro accounts are individual accounts, with the same margin levels, with all deposits by credit cards, with all withdrawals the same method, etc. If you would like to be a "mystery shopper", please sign up for a free $25 account and let us know your experience www.forexmicrolot.com/tradeshow.jsp

Jason
Quoting Jason Rogers
Hi jagui,

All micro accounts are created with the same settings....

Well... I meant change only one account settings...
Jason you're very good at public relations

However I'm not really interested in this particular test, but since product testing is part of my job I felt the urge to clarify a methodology thing.

...good gains everyone!
Quoting jagui
Well... I meant change only one account settings...
Jason you're very good at public relations

However I'm not really interested in this particular test, but since product testing is part of my job I felt the urge to clarify a methodology thing.

...good gains everyone!
I understand your point, and truly want this to be an honest assesssment which is why I will also provide the promo link to give everyone a fair shot. But I look forward to seeing how this turns out...
Good luck to your test 8fingers.
Thanks for the kind word Mattrader-
Week #1 has ended positive ( only 1 trade taken and closed for a whopping profit of $1.27 ). I am still working out the details of the Micro platform and the FIFO rules. While I am actively trading FXCM's Micro Account, I have 2 other Broker's platforms up and running as a side by side "Live" comparison. So far I have no complaints. FXCM's Micro platform operated perfectly with out any "lockups". Currency prices were almost identical to both my other Brokers prices. I used a Market order to enter a Long Eur/Usd which executed almost instantly w/o slippage. I then placed a OCO Short Eur/Usd to trigger 10 pips above my 1st Market order entry. Everything triggered fine with out delay exactly as I would expect. So far, so good. This week I only had MicroTradeStation2 active for about 3-4 hours and will test much longer next week(will bone up on those FIFO rules this weekend). I will also present this info in a uniform and consistent manner to make it easier to follow.
FF = Forex Faggots
I ran a Micro account from $500 to over $2000 and everything worked fine. Sure the spreads widen for news, but so does Currenex. My only complaint was that the price feed was very spastic. The interbank Currenex price feed is much quieter and more "under control". Scalpers will have trouble reading it, but it should be fine for everyone else. 20-30 pip+ trades it works fine. IMO, scalping for <10 pips is exponentially more difficult without CNX and true interbank feed. Not saying it can't be done, but its like trying to do brain surgery with a meat cleaver.
So far so good. Micro platform(TradeStation2) seems good and stable. None of the Economic News Releases last week caused any performance issues. All trades triggered as expected w/o much delay(maybe 1 second). Maybe 8 to 10 trades in total(only 1 loss) and trades closed with either opposite Market Order at same LotSize or OCO Order. No slippage or delay in execution. Starting Balance = $500.00 CurrentBalance= $519.10 .
FF = Forex Faggots
Quoting 8fingers
After nearly 4 years of complaining about FXCM's trading environment, FXCM(JasonRogers) has agreed to let me Test trade their new and improved Micro Account thru their TradeStation(Micro) platform. It is a fairly simple agreement:

1. I get to trade a "LIVE" Micro Account for 90 days(from today 10-07-09) as a comparison test to their past trading environment. My biggest complaint in the past was platform "lock up" making trading difficult at best. This is not a test of my trading prowess(though that will be exposed as well-lol). This...
4. I will do alot of Advertisement about this in Forums. It's a nice strategy for FXCM(JasonRogers), because if i will have some profits at the end of ninety days, which is very unlikely, i will get a nice compensation for those ads. If not - which is probaby the case because of high risks associated with Forex trading - FXCM(JasonRogers) will get all those ads for free!

Best thing is - I think the traders in this forum don't realize that it's only ad... of course i will not mention that they easily can test FXCM by themselves and do their own experiences. It's much better to tell them that this service is good. So they will probably open a live account soon
Forex is a losers game.
Quoting trader121
4. I will do alot of Advertisement about this in Forums. It's a nice strategy for FXCM(JasonRogers), because if i will have some profits at the end of ninety days, which is very unlikely, i will get a nice compensation for those ads. If not - which is probaby the case because of high risks associated with Forex trading - FXCM(JasonRogers) will get all those ads for free!

Best thing is - I think the traders in this forum don't realize that it's only ad... of course i will not mention that they easily can test FXCM by themselves and do...
I enjoy your sarcastic stylized innuendo. Yes this is one gigantic ad campaign conspiracy designed to trick everyone into opening an FXCM Micro account- ROFL - Not!!! I am waiting for the end of my Micro adventures before deciding if I would trade thru FXCM. I like the trading environment so far though.
FF = Forex Faggots
Occasionally a few trades during normal hours is hardly a good test. If a platform cannot even handle a few trades per day it will be a disaster. Maybe you can try to trade 100 limit/stop/market order per day, 1 minute scalping, to see how this fxcm performs? If it can handle this volume without any glitch, then we rate as "good and stable"
  • Post #19
  • Quote
  • Edited 12:30pm Oct 18, 2009 12:03pm | Edited 12:30pm
Quoting fxfei
Occasionally a few trades during normal hours is hardly a good test. If a platform cannot even handle a few trades per day it will be a disaster. Maybe you can try to trade 100 limit/stop/market order per day, 1 minute scalping, to see how this fxcm performs? If it can handle this volume without any glitch, then we rate as "good and stable"
No-I dont trade that way-good luck though. My prior experience with the Tradestation2 was not good. Lock-ups(freezing platform)-slippage and not only during News releases. This was happening with only 1-2 trades open. It was happening constantly. These lock-ups and to a lesser extent the slippage were the reasons I left them in the 1st place. These reasons(and my hostile ex-FXCM customer status) led JasonRogers to offer this "test of Micro trading environment" to me. Using their platform for 90 days will give me all the info I need to make my comparison of trading environment. Plus-could you imagine my embarrassment if I blew this account up in a few days?
FF = Forex Faggots
Quoting 8fingers
No-I dont trade that way-good luck though. My prior experience with the Tradestation2 was not good. Lock-ups(freezing platform)-slippage and not only during News releases. This was happening with only 1-2 trades open. It was happening constantly. These lock-ups and to a lesser extent the slippage were the reasons I left them in the 1st place. These reasons(and my hostile ex-FXCM customer status) led JasonRogers to offer this "test of Micro trading environment" to me. Using their platform for 90 days will give me all the info I need to make my...
I see that you have so far been position trading. Since this is an experiment, may be you can test them doing some scalping trades and news trades. I think it will only be fair to test them in different market situations. This will give us all a better idea as to slippage, whether execution is delayed, frozen platform ....etc...etc. Almost every broker gives a good fill when the market is just trickling over but the real test is in momentum markets.
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