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FXCM Discussion

  • #10,521
  • Jul 18, 2018 3:03pm Jul 18, 2018 3:03pm
Quoting NickL
Hey Jason, What is the caper with FXCM changing my spreads to 1999 levels ? I joined a while back and left my account dormant. Now I come back and the spreads have become terrible. I trade FXCM with Ninjatrader Chat support has been useless. {image}
Hi Nick,

Welcome back and welcome to Forex Factory. I'm not seeing any difference with the pricing you posted and the typical spreads listed on our website. Keep in mind that the cost of trading in the regular account setup is the spread. There is no additional commission charged.

Active traders can get a deep discount on spread costs based on the volume traded, and the pricing structure is a spread+commission setup. More details can be found on the website. The most recent historical active trader spreads report from Q1 2018 showed our active trader spreads at the following levels for the major pairs

Attached Image (click to enlarge)
Click to Enlarge Name: spreads 7-18-2018 4-00-27 PM.jpg Size: 55 KB


The full report can be found attached
Attached File(s)
File Type: pdf spreads-report_ltd.pdf   607 KB | 647 downloads
*

Jason

*The information provided is historical in nature and does not imply that FXCM maintains a particular capacity or performance level. Past results are not indicative of future performance. The price at which an order is executed does not negate the high level of risk involved with forex trading. Trading could result in losses regardless of the pricing quality of opening or closing transactions. Spreads Data comes from all available liquidity providers – liquidity providers subject to change
**Risk Warning: Losses can exceed deposits.
  • #10,522
  • Jul 18, 2018 4:28pm Jul 18, 2018 4:28pm
Active trader spreads are standard with all other brokers in the market. I am disappointed because when I signed up, I got the tighter spreads (Known then as NDD plan)

Anyway..... what do I have to do to get competitive spreads.

Cheers

Nick L
  • #10,523
  • Edited 11:55am Jul 23, 2018 8:47am | Edited 11:55am
Im from Canada...ICmarkets kicked me off and I'm looking for new broker, FXCM spreads on demo look really good I must say. Even better then IC...0 spread on most (even seen some -1 spreads...lol never seen that before...)

I have two questions: are the spreads on mt4 demo account same as Real account? and Whats the leverage for Canadian resident? 1:30 or 1:50 I cant find any info on the website...

thank you

One problem...spread on chart says 2 pips while data says 0 ...which is it...?
Attached Image (click to enlarge)
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  • #10,524
  • Jul 23, 2018 1:43pm Jul 23, 2018 1:43pm
Quoting NickL
Active trader spreads are standard with all other brokers in the market. I am disappointed because when I signed up, I got the tighter spreads (Known then as NDD plan) Anyway..... what do I have to do to get competitive spreads. Cheers Nick L
Hi Nick,

In order to quality for active trader pricing, your account equity will need to meet the requirement of at least 25k and meet the minimum volume requirement of 50 million notional trading volume per month. This will allow you to get access to the active trader pricing, dedicated support, and additional tools available for active trader accounts https://www.fxcm.com/uk/accounts/active-trader/

Jason

*FX/CFD trading carries a risk of losses in excess of your deposited funds
  • #10,525
  • Jul 24, 2018 1:58am Jul 24, 2018 1:58am
Quoting Jason Rogers
{quote} Hi Nick, In order to quality for active trader pricing, your account equity will need to meet the requirement of at least 25k and meet the minimum volume requirement of 50 million notional trading volume per month. This will allow you to get access to the active trader pricing, dedicated support, and additional tools available for active trader accounts https://www.fxcm.com/uk/accounts/active-trader/ Jason *FX/CFD trading carries a risk of losses in excess of your deposited funds

When I signed up the NDD (or whatever it was called) verses the Market maker plan (which is what i presume I am on now) requirements was 10k with no volume requirement. My spreads were Active trader spreads. sooo now you have changed it to 25K. I must say this is the last straw for me with FXCM. I have been a customer on and off for 10 years (Remember the micro accounts....that were then taken away.) You were the only broker who allowed trading with Ninjatrader and I enjoyed the excellent execution and low spreads. Now it seems..... 1.3 on the EU is your new incarnation. (While IG markets, Saxo Bank et all are all lowering to 0.6) Ill come back when you guys get a competitive offering. Anyway, thanks for the assistance, Jason. Ill check back in when you offer tight spreads for all clients.

Best Regards
  • #10,526
  • Jul 24, 2018 2:53pm Jul 24, 2018 2:53pm
Quoting Redbaron81
Im from Canada...ICmarkets kicked me off and I'm looking for new broker, FXCM spreads on demo look really good I must say. Even better then IC...0 spread on most (even seen some -1 spreads...lol ? 1:30 or 1:50 I cant find any info on the website... thank you One problem...spread on chart says 2 pips while data says 0 ...which is it...? {image}
never seen that before...) I have two questions: are the spreads on mt4 demo account same as Real account? and Whats the leverage for Canadian resident

Hi Redbaron,

Welcome to the FXCM thread, and I'm always happy to help with your questions. But first to briefly explain our offering in Canada...we offer our trading services through our relationship with Friedberg Direct. Friedberg Direct is regulated in Canada by the IIROC and is a member of the Canadian Investor Protection Fund. All accounts are opened by and held with Friedberg Direct, which then gives you access to FXCM services and technology.

The spreads in the Market Watch window of the MT4 demo account are the spreads which would be available in a live account. The reason why the spread on your demo chart is different than the spread in the Market Watch window has to do with the limited capabilities of the MT4 platform vs. the pricing options we offer in different regions. In Canada, you trade on raw FX spreads with a separate commission. In other regions, we offer an account with spreads-only trading where the total cost is the spread. But MT4 servers have a limitation in that they can only display chart prices for one pricing option which is why you see the difference here. This would be unlikely to happen in a live account and your Market Watch pricing would match the charts.

The IIROC sets the margin requirements in Canada. The current requirements can be found on our website which shows the margin requirement for trading a 10k position. The margin rates are also listed on the IIROC website.

Jason

*FX/CFD trading carries a risk of losses in excess of your deposited funds
  • #10,527
  • Jul 24, 2018 5:21pm Jul 24, 2018 5:21pm
I once had a LIVE account with FXCM in Greece and the chart prices were indeed different from the market watch prices...
  • #10,528
  • Jul 25, 2018 1:54am Jul 25, 2018 1:54am
Just had slippage of 4.9 pips on GU.7:30 London time,no news.Bet it not gonna show in Trading History as Negative slippage.Thanks a lot FXCM
  • #10,529
  • Jul 25, 2018 7:22am Jul 25, 2018 7:22am
Hello Sir Jason.

i want ask about this website.
this is ur company right from indonesian client?
https://www.apac-fxcm.com/

thx u
  • #10,530
  • Jul 25, 2018 1:43pm Jul 25, 2018 1:43pm
Quoting symona
I once had a LIVE account with FXCM in Greece and the chart prices were indeed different from the market watch prices...
Hi symona,

For a live account, if the price in the Market Watch window doesn't match the price on the chart then our support team can help connect your account to a server where the chart pricing matches your Market Watch pricing.

Jason
  • #10,531
  • Jul 25, 2018 3:59pm Jul 25, 2018 3:59pm
Quoting Tauras
Just had slippage of 4.9 pips on GU.7:30 London time,no news.Bet it not gonna show in Trading History as Negative slippage.Thanks a lot FXCM
Hi Tauras,

Slippage is possible in forex trading as in any other market, and market factors such as liquidity and fast moving markets at the time of execution will play a role. No one likes negative slippage…neither you as a trader nor FXCM. And while the enormous size of the FX market means the market prices often experience orderly movements, if the price gaps over your order price even by a few pips, it is subject to be filled at the best available price which could result in slippage.

The quality of execution you receive is very important to us which is why we publicly release slippage statistics. We are always working with our liquidity providers to try and improve execution. During the most recent period for which data was released (1 January 2018 to 31 May 2018) 63.91% of all orders had NO SLIPPAGE, 25.72% of all orders received positive slippage, and 10.38% of all orders received negative slippage.* The full report can be found attached and it's a really interesting read where you can see how order size and order type can play a role in slippage.
Attached File(s)
File Type: pdf FXCM Slippage Statistics.pdf   606 KB | 738 downloads


It’s also important to note that the pricing you see on the platform is determined by competition from multiple liquidity providers. Each liquidity provider streams through a direct feed of executable buy and sell prices to FXCM. FXCM's Price Engine selects the best buy price and the best sell price, which result in the best available spread. We list the liquidity providers on our website.

If you believe there has been a problem with the execution of a trade, you can also submit a trade audit with order details and our audit team will investigate the trade and make any adjustments if necessary.

Jason

*Disclaimer: The slippage report does not in any way attempt to represent that FXCM maintains a particular capacity or performance level. The figures in this article are provided for information purposes only, and are not intended for trading purposes or advice. FXCM is not liable for any information errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. Past results are not indicative of future performance. FX/CFD trading carries a risk of losses in excess of your deposited funds.
  • #10,532
  • Jul 25, 2018 4:01pm Jul 25, 2018 4:01pm
Quoting bigbocah
Hello Sir Jason. i want ask about this website. this is ur company right from indonesian client? https://www.apac-fxcm.com/ thx u
Hi bigbocah,

Yes, it is FXCM's website for local residents of Indonesia.

Jason
  • #10,533
  • Jul 26, 2018 3:47pm Jul 26, 2018 3:47pm
As a Canadian resident can I get a discount on the commission? $14 round trip is a bit much... Any IBs for Canada? On cashback forex I only see the UK division gets a discount.
  • #10,534
  • Jul 28, 2018 7:06am Jul 28, 2018 7:06am
Attached Image (click to enlarge)
Click to Enlarge Name: zz-10.PNG Size: 88 KB
- https://www.compareforexbrokers.com....-brokers/#fcc2
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #10,535
  • Jul 30, 2018 1:17pm Jul 30, 2018 1:17pm
Quoting Redbaron81
As a Canadian resident can I get a discount on the commission? $14 round trip is a bit much... Any IBs for Canada? On cashback forex I only see the UK division gets a discount.
Hi Redbaron,

Yes, you could get discounted commissions as a part of the Active Trader program if your account qualifies. In order to quality for active trader pricing, your account equity will need to meet the requirement of at least 25k and meet the minimum volume requirement of 50 million notional trading volume per month. Send me a private message if you would like more details, and I can have our support team send it over to your email.

Jason

*FX/CFD trading carries a risk of losses in excess of your deposited funds
  • #10,536
  • Jul 31, 2018 4:54am Jul 31, 2018 4:54am
hello , i'm living in egypt , what the maximum leverage i can use
is there dedicated FXCM website for egypt , and what i should follow to open an account
  • #10,537
  • Jul 31, 2018 8:13am Jul 31, 2018 8:13am
Trading in the UK but been away for a while - just checked my trading accounts - don't know why but my margins on FXCM (uk) trade accounts are suddenly way down - what the heck happened ?
New requirements ?
  • #10,538
  • Aug 1, 2018 1:54pm Aug 1, 2018 1:54pm
Quoting eng_forex171
hello , i'm living in egypt , what the maximum leverage i can use is there dedicated FXCM website for egypt , and what i should follow to open an account
Hi eng_forex,

We don't have a website specific to Egypt, but we have an Arabic language website dedicated to our clients from the region which is found at https://www.fxcm-arabic.com. The maximum leverage available is 400:1 for forex trading for accounts with up to $10,000 equity balance. Once the account rises above $10,000 in equity, the maximum leverage is 200:1. Details are outlined on our website. Please remember that while greater leverage can increase the magnitude of your gain, it can also increase the magnitude of your loss and chances of receiving a margin call.

Jason

*FX/CFD trading carries a risk of losses in excess of your deposited funds
  • #10,539
  • Aug 1, 2018 1:59pm Aug 1, 2018 1:59pm
Quoting NoStopsXXL
Trading in the UK but been away for a while - just checked my trading accounts - don't know why but my margins on FXCM (uk) trade accounts are suddenly way down - what the heck happened ? New requirements ?
Hi NoStopsXXL,

Welcome back! While you were gone, the European Securities and Markets Authority (ESMA) formally adopted 'product intervention measures on CFDs' which set leverage limits on the opening of a position from 30:1 to 2:1 which vary according to the volatility of the product. Here's a list

  1. 30:1 for major currency pairs
  2. 20:1 for non-major currency pairs, gold and major indices
  3. 10:1 for commodities other than gold and non-major equity indices
  4. 5:1 for individual equities and other reference values
  5. 2:1 for cryptocurrencies

The ESMA changes apply to all retail traders who hold trading accounts with brokers authorised and regulated by the Financial Conduct Authority, such as FXCM Limited.

The ESMA announcement from March can be found here.

Jason

  • #10,540
  • Aug 2, 2018 4:44am Aug 2, 2018 4:44am
Jason,

How many clients does FXCM have now ?
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