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FXCM Discussion

  • #10,761
  • Jun 7, 2020 6:30pm Jun 7, 2020 6:30pm
Still can't log in. Don't know why I stay with these frauds.
  • #10,762
  • Jun 12, 2020 5:43am Jun 12, 2020 5:43am
I have a request for FXCM. is it possible to add more historical data to the charts in MT4?.

Right now the historical data is very limited so testing trading strategies in the long term is difficult.
  • #10,763
  • Jul 7, 2020 4:52am Jul 7, 2020 4:52am
Hi Guys My encounter with fxcm. I watched a number of trades disappear off my screen without the stop loss price being met. they would have to have moved the spread at least 4.5 pips to take my small trade out, then a notice would appear (this trade does not exist). On one occasion they disconnected my key board preventing me from taking action to ovoid margin call. the instant my account went into margin call my key board function was instantly restored . Twice they did not honour their Trading View pro free offer. My instinct tells me they were trading against me in house. Pathetic given the small amounts involved. My trading goal was not to make money (I would have deposited a vastly grater sum if this was the case) I wanted to gain ,certainty of trust, something I found to be unattainable with fxcm trading a small account. I though may be with a large account, tight risk management and conservative strategy i might be ok but then i thought, a habit's a habit. That in itself you can't get away from. I then Googled FXCM. I don'tneed to tell you what i found YEP the same old SH*t
  • #10,764
  • Edited 9:40pm Jul 12, 2020 8:28pm | Edited 9:40pm
So. I am trading using FXCM python ForexConnect API. My application has been working/trading consistently and successfully for 9 months. Suddenly today I get an error:

"QuotesManager error: Instrument catalog file parsing failed. Tag 'timeframe' does not contain attribute 'start-date' or its content is empty. code: OtherError subcode: -1"

This error is raised when the application makes a get_history call. The system was working perfectly on Friday but not today. Who knows what 'maintenance' was carried out over the weekend??

I have 27 positions open being managed by my system which was built after attending a seminar by FXCM using FXCM sample code and upon contacting FXCM I am told to amend my application to use a different approach and code library or to manage my 27 positions manually using the FXCM Trade Station!

I raised this issue with FXCM support 3.5 hours ago and still no response or ETA when this issue would be resolved. What should I do with my open trades that have been opened and managed by my system over the last month? I have already had a NAS100 position close that probably shouldn't have been but there is no way of knowing without the system running. This is a nightmare
  • #10,765
  • Jul 14, 2020 3:16am Jul 14, 2020 3:16am
UPDATE: FXCM python ForexConnect API has been fixed now. Only took just under 36 hours. FXCM - what are you like! I understand that sometimes things go wrong (especially during these times of COVID-19) but the response time needs to be quicker please.
  • #10,766
  • Jul 27, 2020 4:14pm Jul 27, 2020 4:14pm
I have noticed different issues trading with FXCM and it feels like an integrity issues.

1. Pivot levels - I noticed that the pivot levels on mobile TS and desktop are totally different on mondays, but same for the rest of the week. i complained and they claim the formula for calculating is responsible which doesnt make sense because for the rest of the week (tues-fri) they are same.
IF both stations handle pivot points differently then it shouldnt be applicable to Mondays alone. See evidence in attachment.

2. Candle formation on both mobile and desktop vary.
I noticed i had seen a candle form a bullish doji on the desktop, later checked my phone and it was bearish. i only screen grabbed the mobile one and sent an email, days later when they didnt address it i went back to the desktop TS and noticed it had corrected back. i thought i misread it. fortunately they did similar thing again and i caught it.
I hope to see what they do this time. See evidence in attachment

3. your stop loss is never guaranteed. like most user here complained, SL are executed beyond the limits set.

I advise you stay away from these brokers. They set you up to fail. i can understand when different brokers have different candles on different platform, but same broker having different candles, what could be the reason if not fraud?
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  • #10,767
  • Jul 29, 2020 4:59am Jul 29, 2020 4:59am
How come the net part of real volume doesn't correlate to changes in the SSI?
https://imgur.com/VpUYlg1
  • #10,768
  • Jul 31, 2020 12:52pm Jul 31, 2020 12:52pm
Quoting ijustdeylook
I have noticed different issues trading with FXCM and it feels like an integrity issues. 1. Pivot levels - I noticed that the pivot levels on mobile TS and desktop are totally different on mondays, but same for the rest of the week. i complained and they claim the formula for calculating is responsible which doesnt make sense because for the rest of the week (tues-fri) they are same. IF both stations handle pivot points differently then it shouldnt be applicable to Mondays alone. See evidence in attachment. 2. Candle formation on both mobile and...

check this out, same candle different opening and closing price plus the wick on different level in each platform

https://www.tradingview.com/x/ITHeCoL8/
https://pepperstone.ctrader.com/c/JP4Vn
https://ibb.co/QHFcPjf
  • #10,769
  • Aug 1, 2020 1:09am Aug 1, 2020 1:09am
This is fxblue's approach. Does FXCM SSI indicator do this as well?

https://imgur.com/gxZkCof
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  • #10,770
  • Aug 3, 2020 7:59am Aug 3, 2020 7:59am
Quoting pobo123
UPDATE: FXCM python ForexConnect API has been fixed now. Only took just under 36 hours. FXCM - what are you like! I understand that sometimes things go wrong (especially during these times of COVID-19) but the response time needs to be quicker please.
I met the same problem that day, fortunately, my trade orders didn't open. I found few people use python ForexConnect API
  • #10,771
  • Aug 9, 2020 1:44am Aug 9, 2020 1:44am
Jason fxcm have banks to liquidity,do banks offer micro lots(0.01),where going micro lots and mini lots?
  • #10,772
  • Sep 11, 2020 4:50am Sep 11, 2020 4:50am
I haven't been active on this thread for a while but am back. I'll try to address any open questions and answer new posts.
  • #10,773
  • Sep 11, 2020 4:51am Sep 11, 2020 4:51am
Quoting Jason Rogers
I haven't been active on this thread for a while but am back. I'll try to address any open questions and answer new posts.
Where did you go? FXCM need you to clean things up in the backoffice ?
  • #10,774
  • Sep 11, 2020 4:56am Sep 11, 2020 4:56am
Quoting newage
Jason fxcm have banks to liquidity,do banks offer micro lots(0.01),where going micro lots and mini lots?
FXCM does offer micro lot trading (0.01 on MT4) on all accounts. You can place any size trade in micro lot (1,000 unit) increments.
  • #10,775
  • Sep 11, 2020 6:52am Sep 11, 2020 6:52am
Hello, does FXCM have Dealing Desk or Virtual Dealer Plugin to re-quote and manipulate prices on their favor? Thanks.
  • #10,776
  • Sep 16, 2020 12:35am Sep 16, 2020 12:35am
Quoting fuadik88
Hello, does FXCM have Dealing Desk or Virtual Dealer Plugin to re-quote and manipulate prices on their favor? Thanks.
FXCM offers all of our clients Enhanced Execution. Enhanced Execution means no re-quotes, no stop/limit restrictions, and up to 88% of orders are executed at the requested price or better. You can see more detailed execution stats on our Execution page: https://www.fxcm.com/uk/about-fxcm/execution-transparency/

We do not use a Virtual Dealer Plugin or re-quote.
  • #10,777
  • Sep 16, 2020 12:51am Sep 16, 2020 12:51am
Quoting ijustdeylook
I have noticed different issues trading with FXCM and it feels like an integrity issues. 1. Pivot levels - I noticed that the pivot levels on mobile TS and desktop are totally different on mondays, but same for the rest of the week. i complained and they claim the formula for calculating is responsible which doesnt make sense because for the rest of the week (tues-fri) they are same. IF both stations handle pivot points differently then it shouldnt be applicable to Mondays alone. See evidence in attachment. 2. Candle formation on both mobile and...
To give a little more context on Pivot Points. As mentioned in the email response the calculation is slightly different from the Trading Station Desktop and Trading Station Mobile platforms.

TS Desktop utilizes the close price of the last candle while TS mobile takes the current close price.
Due to this, you may get slightly differing pivot levels even when all else matches. They will differ the most when the current closing price is far away from the closing price of the previous candle. Obviously, this will also mean that the difference will be more noticeable on larger time frames. It is often easier to notice the difference on Mondays since it's a new week and gaps can occur over the weekend.
  • #10,778
  • Sep 16, 2020 2:06am Sep 16, 2020 2:06am
Quoting Jason Rogers
{quote} FXCM offers all of our clients Enhanced Execution. Enhanced Execution means no re-quotes, no stop/limit restrictions, and up to 88% of orders are executed at the requested price or better. You can see more detailed execution stats on our Execution page: https://www.fxcm.com/uk/about-fxcm/e...-transparency/ We do not use a Virtual Dealer Plugin or re-quote.
I think this is untrue, your organization informed me there are requotes, when the order cannot be filled at the price it is filled at the next price. I think anyone that really cares to listen should avoid trading with FXCM. they are fraudulent. Most SL never execute at the set price. i have proof
  • #10,779
  • Sep 16, 2020 2:16am Sep 16, 2020 2:16am
Quoting Jason Rogers
{quote} To give a little more context on Pivot Points. As mentioned in the email response the calculation is slightly different from the Trading Station Desktop and Trading Station Mobile platforms. TS Desktop utilizes the close price of the last candle while TS mobile takes the current close price. Due to this, you may get slightly differing pivot levels even when all else matches. They will differ the most when the current closing price is far away from the closing price of the previous candle. Obviously, this will also mean that the difference...
Why cant this be changed? why do you allow this disparity?
I will like to contact the regulatory body in charge of FXCM Southafrica. I understand FXCM is regulated. Can you share the info.
Noticed everyone carefully avoids the concerns i raised with manipulation of charts. So it seems to be true as there is no response and it still keeps happening. See it again on two instruments 2days ago. why will same broker have different candle formation (different OHLC) on TS mobile and TS desktop. there is a chance there is a plug-in.
Please do me this favour and share the contact info...i understand it is FSCA.
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  • #10,780
  • Sep 16, 2020 11:23pm Sep 16, 2020 11:23pm
Quoting ijustdeylook
{quote} I think this is untrue, your organization informed me there are requotes, when the order cannot be filled at the price it is filled at the next price. I think anyone that really cares to listen should avoid trading with FXCM. they are fraudulent. Most SL never execute at the set price. i have proof
What you are describing, where an order cannot be filled at the price selected, is called slippage. Some FXCM trades will incur slippage, this is true and is addressed in the Execution information I provided above. Slippage can either be positive (you fill at a better price) or negative (you fill at a worse price). FXCM passes on all slippage, so if you receive positive slippage you will see that reflected in your trade as well. Slippage is caused because their is not enough liquidity at the price you selected to fill your order and so it will fill at the next available price.

While we cannot guarantee you won't have slippage on Stops, there are a couple things you can do to help reduce the frequency:

 

  1. Avoid placing your stops right on round numbers or key support / resistance lines. Many other traders will use the same level which can quickly use up the available liquidity.
  2. Try not to trade during high impact news events. When there is additional volatility there tends to be less liquidity in the market.

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