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FXCM Discussion

Quoting reddevil
Jason, do you have an email that I can contact with further questions? Thanks.
Yes, you can email me at jrogers AT fxcm DOT com.
Quoting ecafyelims
{quote} PM Sent. Thanks Jason
Thanks Ecafyelims

I have now looked at the history of your earlier correspondence with my colleague, and there seems to be some confusion. He never said there were problems on our end that we needed to investigate. He said your ACH may have been blocked for security reasons by your bank. Perhaps they have a daily limit on the amount you can send via ACH, or perhaps they wanted to confirm with you first that you authorized this transfer to FXCM before letting it through.

For this reason he suggested a debit card deposit as an alternative. A debit card deposit would transfer money from your checking account just like ACH, only the funds would be in your trading account immediately, whereas ACH can take 2 to 5 business days. Also, debit card deposits are free.

Is there a particular reason you don't want to deposit via debit card in light of these advantages and the fact that you've had difficulty using the ACH method? Either way, you can call our live customer support team anytime 24 hours a day for help making a deposit via the method of your choice, and they can walk you through it over the phone.
Quoting reddevil
Regardless which FXCM entity a trader signed up with, will he get the same feed? Otherwise a demo needs to be done on the entity that a trader intend to sign up with.
For Standard accounts on our No Dealing Desk (NDD) forex execution, we offer the same raw FX spreads through our FXCM entities around the world. For Mini accounts, we offer the same all inclusive spreads.

Quoting reddevil
Most IB that I know are with FXCM uk, why is a trader not allowed to signed up with entity from other jurisdiction?. The difference is only a mouse click away.
We ask clients to set up their accounts through their locally-regulated entity wherever possible. If there is a particular IB you are interested in, then I encourage you to reach out to them about setting up your account with Halifax New Zealand.
Hi Jason, I'm sorry, I said credit card; I should have said he tried getting me to use a debit card instead. I use the terms interchangeably, and that's my mistake. I apologize.

Your colleague never said that my ACH may have been blocked for security reasons by my bank. Exactly, I stated to him, "I tried initiating an ACH deposit from my bank account into my FXCM account, and it was declined by your company. I called my bank and they said that they did not stop the request." And he replied with "We have sent a request to the bank to determine what happened. At this point, you can use your debit card to make the deposit which is free and you can do it on www.myfxcm.com."

I expressed that my debit card doesn't allow transactions that size, and he replied with, "You can call your bank to increase the daily limit, I have done this in the past. I asked my colleague and he said we are still waiting from the bank, I suggest you to call you bank and use the debit card."

I talked with my bank, and they reiterated that they haven't even seen an attempt to ACH on my account, and they warned me that it's a warning sign if an exchange company encourages debit over ACH. I expressed this concern to your colleague and asked for confirmation that FXCM accepts ACH transfers, and I'm still waiting to hear back from him.

Anyway, that's why I wanted to do ACH over debit.

I suppose I could have put all of that detail in my original post, but I didn't want to crowd the forum.

So, do you think you can help?
Quoting ecafyelims
I talked with my bank, and they reiterated that they haven't even seen an attempt to ACH on my account
The fact that there is no record with your bank or us of your ACH attempt suggests that your request did not even make it past your computer. You may have completed the ACH deposit form incorrectly which prevented it from going through. Our live customer support team can walk you through the ACH deposit over the phone any time 24 hours a day, if you call us at 1-888-50-FOREX (36739).

Quoting ecafyelims
and they warned me that it's a warning sign if an exchange company encourages debit over ACH.
You said you use the terms debit and credit interchangeably. Is it possible that's what you did when you spoke with your bank? Credit card deposits are not allowed in the US for forex accounts. That could be what they were warning you about. Debit card deposits are not the same as credit card deposits. Debit card deposits transfer money from your checking account similar to an ACH, only faster.

Quoting ecafyelims
I expressed this concern to your colleague and asked for confirmation that FXCM accepts ACH transfers, and I'm still waiting to hear back from him.
There must have been some miscommunication between you and my colleague, because there is no doubt FXCM accepts ACH deposits in the US. He would not have had to check on that to get back to you with confirmation.

Quoting ecafyelims
Anyway, that's why I wanted to do ACH over debit.
Both ACH and debit card are legitimate and accepted deposit methods for FXCM US. You can use either method and I encourage you to call us for assistance over the phone if you need help completing the online form.
Quoting Jason Rogers
{quote} Hi Hungy1, Our MT4 chart solution has already been implemented. That means whether you have a Mini or Standard account, you can now trade your USD-denominated trading account with MT4 charts that reflect the spreads available to you. If you complete the form below, your MT4 account can be set up with the appropriate charts: MT4 Chart Update for FXCM UK Clients MT4 Chart Update for FXCM US Clients

Will this work with demo accounts?
Quoting Jason Rogers
{quote} Hi Aad, Your calculations are off, because you are assuming that we set your margin requirement to be exactly 1% for major currency pairs where you have up to 100:1 leverage and exactly 0.5% for CFDs where you have up to 200:1 leverage. That is not the case. Since you have a USD-denominated trading account with us, we fix your margin requirements in US dollar terms, and these margin requirements don't change due to minor fluctuations in the exchange rate. They are updated only in the case of large exchange rate movements, in which case we...
No the 200:1 was an example from one of the broker links I provided. I know I have USD denominated FXCM AU accounts with 100:1 margin ratio/leverage. Just try the calculator and change it to 100:1 the formula is still valid with most brokers.

Obviously these margin calculators do take into account the denomination and leverage of your trading account through user input as follows. They are very straight forward unlike FXCM's magical MMR/Buffers.

Denominated Account Currency: USD
Currency Pair Traded: EUR/USD
Current Market Price For EUR/USD:
Margin Ratio/Leverage: 100:1
Trade Size:

"Instead of using a formula to calculate your margin requirements, you should simply type in the values you see in the MMR column on Trading Station."

Great, now I need to install Trading Station!

MMR/undisclosed buffers probably won't work for me. I use my spreadsheet to give me approximate cost, risk, and possible profit details before making any trade strategies for dozens if not hundreds of trades. I'm not going to manually input MMR for each of those trades. LOL! The margin requirement formula works perfect with the other brokers I've tried. It's just FXCM's incessant need to do things differently (supposedly for our benefit) that causes issues for traders.

Perhaps if I knew exactly how FXCM formulates "MMR" that would be helpful, though I won't hold my breath. But whatever, the trading must go on one way or the other.

Thanks anyway Jason...
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Quoting Hungy1
{quote} Will this work with demo accounts?
We already have EUR- and AUD-denominated MT4 demo servers with charts reflecting the raw FX spreads for Standard accounts.

We are in the process of updating a USD demo server for this, but currently all USD-denominated MT4 demo accounts have charts reflecting the all-inclusive spreads for Mini accounts.

For now, if you would like to test an MT4 demo showing our Standard account pricing, you can use a Euro-denominated MT4 demo account. You must select EUR as your currency on the demo registration form.
Quoting Aad
Great, now I need to install Trading Station!
Hi Aad,

No download is required to access Trading Station Web: https://tsweb.fxcorporate.com/

Quoting Aad
I use my spreadsheet to give me approximate cost, risk, and possible profit details before making any trade strategies for dozens if not hundreds of trades. I'm not going to manually input MMR for each of those trades.
Manually inputting the MMR for each of your trades is not necessary. Trading Station displays your MMR for a 1k trade size. If you're trading more than that, your spreadsheet formula simply be to multiply that MMR value by your trade size.

Attached Image (click to enlarge)
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For example, the MMR per 1k on a USD-denominated FXCM Australia account is $13.00 per 1k for all EUR-based currency pairs (with the exception of CHF crosses). That means if you're trading 100k EUR/USD or 100k EUR/GBP, your margin requirement for that trade is 100 time $13.00.

Quoting Aad
Perhaps if I knew exactly how FXCM formulates "MMR" that would be helpful, though I won't hold my breath. But whatever, the trading must go on one way or the other. Thanks anyway Jason... {image}
Perhaps, I did not explain it well enough in my previous post. Our goal is to make the margin calculation simpler, not harder. It's fair to say that most retail traders don't use a spreadsheet to calculate their margin requirements as you do. For this reason we use fixed margin requirements that don't fluctuate due to minor changes in the exchange rates.

For example, let's take the EUR/USD currency pair. At the time of this post, the exchange rate is 1.1290[0]. That means the notional value of a 1k trade (1000 Euros) is $1,129.00. If we were to use a formula to compute your exact margin as you ask, then 1% margin on your FXCM Australia account would be $11.29. However, if the exchange rate increased by just 10 pips to 1.1300[0], then your margin requirement would change to $11.30.

Instead of having margin requirements change for every 10 pip move in the exchange rate, we add a buffer to fix the margin requirement at $13.00 per 1k. The buffer calculation is not an exact formula. It sets the MMR at a round number that is high enough above $11.29, so the margin requirement only ever has to be adjusted if there is a major move in the exchange rate. In those cases, we email clients to let them know if the updated margin requirements.

Please let me know if you still have questions about how to use our MMR values on your spreadsheet. Your should not have to type in values for each individual trade.
Quoting Jason Rogers
{quote} Hi Aad, No download is required to access Trading Station Web: https://tsweb.fxcorporate.com/ {quote} Manually inputting the MMR for each of your trades is not necessary. Trading Station displays your MMR for a 1k trade size. If you're trading more than that, your spreadsheet formula simply be to multiply that MMR value by your trade size. {image} For example, the MMR per 1k on a USD-denominated FXCM Australia account is $13.00 per 1k for all EUR-based currency pairs (with the exception of CHF crosses). That means if you're trading...
Correct, on other brokers the straight forward margin requirement that anyone can compute at anytime on a 1k trade would be around $11.30 at the current EURUSD market price instead of $13.00, I prefer the former. But I guess that's just crazy me!

"It's fair to say that most retail traders don't use a spreadsheet to calculate their margin requirements as you do."

Yes and probably most retail traders don't know how to trade, strategize, and or make consistent profits. So being different from the herd isn't a bad thing in my book.

I don't just use my spreadsheet to calculate margin requirements, as you can see that's just one of the many things I look at when I'm strategizing for many future trades. Anyway, I'll just need to make a separate special spreadsheet to accommodate FXCM's different way of doing things... :nerd:
Is scalping allowed in FXCM?
I read and watch to learn.
​Why no online chat at the moment?
Quoting Aad
{quote} Correct, on other brokers the straight forward margin requirement that anyone can compute at anytime on a 1k trade would be around $11.30 at the current EURUSD market price instead of $13.00, I prefer the former. But I guess that's just crazy me!
You make a good point, Aad :nerd:

I will reach out to our developers to express your preference for a floating margin requirement and will update you if we introduce such a change to our platform.
Hi Jason,
Is scalping allowed in FXCM?

Thanks.
I read and watch to learn.
Quoting Greenspanke
Is scalping allowed in FXCM?
Yes Greenspanke, we welcome scalpers at FXCM.

The trading volume scalpers can generate make them some of our best clients. We even have an Active Trader program that can provide discounts on commissions for the highest volume scalpers.

Your question has me curious though. Did you run into problems scalping with another broker? Was this an automated strategy? On what currency pair(s)? What platform did you use? I ask because we have many platforms and solutions available to traders from API to VPS so you can optimize the implementation of your scalping strategy with FXCM.
Quoting TheGreatMilenko
​Why no online chat at the moment?
Hi TGM,

We have been making some updates on the back end which in the long run should improve how efficiently our live support reps can handle online chats, but as with any updates there can be some intermittent issues with the implementation. For this, I apologize.

You should be able to access live chat now, but please let me know if you run into any difficulty in the future. Also, for immediate assistance, you can always call our live support team 24 hours a day, 7 days a week. Your forum profile mentions you live in the UK where our toll-free number is 0808 234 8789.
I have been with FXCM for many years. What i have experienced recently was lost in trade history.

It happened once in March, and again in the last week.

Last week my entire history before April was lost on MT4, but somehow my balance was accurate. however, this resulted my gain reduced to 40% from 135% for the year.
http://www.forexfactory.com/showthre...78#post8896178

Why is this keep happening? I have 5 other accounts with FXCM, and i also noticed the inconsistency in trade histories.

Why does your MT4 erase my trade histories?
How would i be able to build my explorer if you keep on erasing my trade histories?



I'd like to say that anyone interested in building a explorer with FF MUST RECONSIDER setting up the live account with FXCM.

Sure, you may state FXCM Tradestation has all of my history correctly, but that's not the software i am trading on, and FF does NOT sync with TradeStation.

Thank you.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
Quoting Jason Rogers
{quote} Hi TGM, We have been making some updates on the back end which in the long run should improve how efficiently our live support reps can handle online chats, but as with any updates there can be some intermittent issues with the implementation. For this, I apologize. You should be able to access live chat now, but please let me know if you run into any difficulty in the future. Also, for immediate...
  • Post #8,979
  • Quote
  • Edited Apr 28, 2016 11:09am Apr 27, 2016 6:29pm | Edited Apr 28, 2016 11:09am
Quoting FXSayWhat
I have been with FXCM for many years. What i have experienced recently was lost in trade history. It happened once in March, and again in the last week. Last week my entire history before April was lost on MT4, but somehow my balance was accurate. however, this resulted my gain reduced to 40% from 135% for the year. http://www.forexfactory.com/showthre...78#post8896178 Why is this keep happening? I have 5 other accounts with FXCM, and i also noticed the inconsistency in trade histories. Why does your MT4 erase my trade histories?...
Hi FXSayWhat,

First, thank you for being a client of FXCM for many years.

Quoting FXSayWhat
Why does your MT4 erase my trade histories?
It has to do with how the MT4 platform links to our back office to provide you with Single Sign On access to MT4 and Trading Station for trading, and MyFXCM.com for account administration. While you can view complete Reports and Statement Summaries for your MT4 account on Trading Station and MyFXCM, the trade history on the MT4 platform itself can only go back 30 days.

Quoting FXSayWhat
How would i be able to build my explorer if you keep on erasing my trade histories?
While the current version of Trade Explorer is not compatible with FXCM accounts, Forex Factory tells us that their next version will be.

I encourage you to contact Forex Factory directly to let them know of your interest in this update to Trade Explorer: http://www.forexfactory.com/contact.php

In the meantime, you can use our Trading Analytics as an alternative: https://taweb.fxcorporate.com/
Quoting Jason Rogers
{quote}I will reach out to our developers to express your preference for a floating margin requirement and will update you if we introduce such a change to our platform.
Thanks Jason...
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