FXCM new no dealing desk platfrm

Heard that FXCM is offering another platform 2 pip spread EUR/USD and USD/JPY.

Has any body tried it.... Post your comment here.

.....

i think the spread on those pairs is 3

I've tried the demo.

I'm a little unsure of their model - fixed spreads yet no deal desk. They should have just offered variable spreads w/commissions.

Being that they make their money on spread leaves me suspicious that there still could be price manipulation.

I've yet to hear any real positive user feedback, that is from people using this live. Time will tell.

what is the negative user feedback you've heard?

No dealing desk???
How can that be when they actually HAVE a dealing desk? Do they hide the trades on their NDD so that their dealing desk people on their other dealing platform cannot see it? I dont think that the same broker can HAVE a dealing desk and NOT HAVE a dealing desk. Surely not when FXCM is the counterparty to the trades.

I have posted this before regarding FXCM non dealing desk platform:
- Huge slippage during news. Entry orders get filled at top or bottom of spike. So yesterday during non farm payroll news a short entry order on GBP would have been filled about 1.9530 low with subsequent reversal causing a big loss
- Market orders are rejected during news time if the price moves one pip in the nanosecond that you click to send your trade
- Executed orders during high volatility stay in the order box for over 5 minutes before they move it to open orders box. Creates confusion for the trader and inability to close the trade.

So save yourselves some time and money and look elsewhere !!!

Well they swapped me to None Dealing Desk, recently without me asking.

Trades where taking 10seconds to go through and pretty much always have a message pop up, can't do it bla bla bla, dropped back to the old style, loads better.

Bet they'll put me on the new way, when they see me, cheating on there delays though



Errrr Brokers.

Yep back to normal here Sure didn't ask to be swapped to Direct, but they did, I assumed they'd put me on manual trades, but nope.


Stay the hell away from it, it sounds better in everyway, but really really isn't.

The point is that, they do not guarantee non-slippage execution which is the same as widening the spread.

i dont see any difference between the NDD and DD on FXCM...dissapointed

All of the claims made where the exact opposite, I e-mailed them to put me on None Dealer, but said swap me to the other if I'm on that, which they did.

Well, it doesn't help either that FXCM just had a major complaint filed against them by the NFA.

it dont's look good for them. its the biggiest broker and the worst

They recently sent me an e-mail informing that within January 2007 they will send most of the customers to the no dealing desk (NDD) platform. I do not know when my turn will come. With the dealing desk option at least there is no slippage for entry orders and stop losses. Guys please post your experience with NDD as much as you can

Most of those being sent to the NDD are those who have dared to make money with FXCM and were put on manual execution as a result. Dont try to trade the news on their NDD platform as you will get screwed. But you can scalp outside news time.

I wouldn't trust it.

I found NDD no use, not only news times but any time really, got so pissed off ( I assumed I was on manual allowing ) I pretty much stopped trading.

IF it did the claims, and FXCM weren't losing money from my profits, it would be great, maybe it was just new and had issues and it'll be sorted soon ?? ( Got to Hope )

Already looking into a futures broker to trade GBP through though, $5 area in and out in Comm's + 2 pip spread but can get short at ask and close at bid

I have orders filled (magically) after been rejected and (magically) closed with 3/4 pips loss.

Sometimes, you see the order was rejected and you keeps trying to enter at the spot.

A couple of minutes later your rejected order is filled and inmediately is closed with a minor loss.

You contact them and they don´know what to say.

If you request a report you can watch some funny things:

Your order was activated like Entry Order, not like a spot order.

Your order was closed by a stop loss of 4/5 pips.

They start to request more information about what happened to make an account audit.

And off course the audit ends with "FXCM is not guilty" wherever you say.

Even if you said:
Don´t you note it´s strange for a trader to set the stop loss in the spread?
Don´t you note it´s strange for a trader to set Orders, which could be filled at anytime, with the stop loss in the spread?

And sometimes the spot order keeps trying to get filled 30 minutes later and you don´t know that.

And off course, the "At the Market" option to prevent slippages does not work. And this is the worts problem.

Because If you set the "At the Market" option to 0 (default) you´re telling them (or the banks their claim are the counterparts), Hey, I want to buy/sell ONLY at this price.

So, if you can´t find a counterpart which wants to fill your order at the price you requested (and with no slippage) the order must be rejected. It´s that simple.

If you do not agree with the price you don´t need to open the order. However they fill you with slippage.

My recommendation is to stay out of the NDD option. And if you want to keep working with FXCM use the Fixed Spread Option.

Advice: They can´t move you from your original request of Fixed Spreads when you opened the account.

If they do:

Request to immediately go back the process from NDD to Fixed Spreads because you don´t request the change and their can´t modify your account without your agreement.

NDD is a bait.

They know that people initially wanting to be in this NDD are "News Traders". Knowing that, they want to hurt you bad.

As I have mentioned before... someone just llight a match... burn their building down and get rid of the FXCM problem...

I have a free match !!! Free shipping too if you're close to them !!!