FXCM Discussion

I just got the E-mail and I cant give you much more info just thought some would like to know

Thanks for the info!

I just did the online form to convert my mini to a micro it takes 3-5 buissiness days (the form is real short)

Spreads looks real tight! (I bet cause we are betting against the house)

Hi,

Thanks for replying to my message. What broker are you with? Do all brokers freeze platform when a trader is making money?

Me too, going for long term.

Lol, no. Many brokers have very stable platforms that hardly ever freeze...they just find other ways to take your money

No, but seriously there are some very good brokers out there.

Hi,

So who are the good brokers you are referring to?

Thanks!

OK so FXCM can now do MICRO?
Are you saying as small as .01 (one penny)

please let me know!

I use an EA and I use penny lots so this would really help! right now I have IBFX and am happy but it sure would be nice to have other options!

Thanks

i don't know, but I heard Oanda is the same.. only way around this is use really low leverages and trade longer terms, don't have a strategy that needs you to open and close trades in a shorter time frame, then you'll be a harder target, and they'll target someone else to rob...

Well Right now I'm with thinkorswim. I've been with them quite some time since I started out in the stock market and that's primarily what they do.

Pros.

They are super honest and helpful

Platform never freezes.

Low spreads

Cons.

Primarily an options broker so their fx charting isn't good, you'll need to find someone else for charting.

Can't trade off the charts.

The roll payout isn't automated yet.

Well thats about all I can think of at the moment. I don't think they would work very well for scalping, but for longer term trades their fine.

Hope this helps

Yes, I've had a live account with them for a week now, and it's pretty sweet

The spreads are wicked low. As low as .5 pips for eur/jpy averaging 1.5-2 or so. Very fast execution, and yes micro lots. Every pip is .10 cents

I do have one gripe with them at this time. Their roll payout is off by a factor of 10. instead of paying out .13cents on the eur/jpy it's .013

I've contacted them and they acknowledge the problem and said they are working on it. So we shall see

If they fix this then I will be quite happy.

Anyone else have this problem?

Forgot to mention that they are offering fractional pip pricing. I've found that combined with the low spreads it's very nice.

Just wanted to mention that FXCM micro took care of my rollover issue. I had a live $30 test account with them and was short about a $1 in interest. Today they credited me with $5 to make up for it. I've got to say that kind of impressed me. I wasn't ever expecting to see that $1 let alone $5

micro account get better spreads then there mini account holders, so much for there no dealer execution, there still up to there old tricks, i see it working http://www.cvreefers.org/images/smilies/new_newbie.gif

http://www.cvreefers.org/images/smilies/slap.gif http://www.forexfactory.com/showthre...39#post2103639

Thanks for the info about ThinkorSwim!

Whitewolf

I just want to ask a little question to the ppl that use the Market Scope on the FXCM Station.
When i open a daily chart, i realize that there is an extra candle that shouldn't be there. What i mean is..

The First candle of the week should start at 5pm EST on Sunday and end at 5pm EST on Monday. Normal.

But what happens in my chart is the candle having a normal start but it ends only a few hours later.. and then it starts another Monday candle.

So in a week i have 6 candles, when in fact that should be only 5, as 5 are the trading days available in a week.

That weird candle, is unwanted by many motives. The first is that, its just wrong and stupid to have a Daily Candle, that in fact it only has 2 hours of trading data inside it.

Then, its also dangerous because in a normal chart the candle might be red, and in this chart, it might show green.

Its also deceiving in terms of picture, because it can give a wrong picture of time vs movement (momentum) and also might give a distorted vision of the last days.

I tried to warn fxcm of the problem. I explained throught all means even sending pictures but they insist that im having ilusions.

They assure that my chart its looking exactly like theirs but that is incredible because i already see 4 candles this week when it only should be 3.


I can give you guys a visual aid.

http://img363.imageshack.us/img363/3039/print004yq3.jpg

This is a picture of Usd/Jpy with a DailyFx chart.

And now...

http://img206.imageshack.us/img206/8211/print001ci2.jpg

So.. lets go by steps... Today, a spike in both charts.. Yesterday a big Red candle...

but previous that... one has a red candle and the other has a green candle instead.

Then.. in the first chart we have a red candle with a shadow (stick) about the same size below (this is the friday candle)

But in the market scope chart before that green candle instead of seeing the friday candle we can see a candle wich represents the last hours of sunday.

I even draw a little arrow to point the difference.. but they insist that im having ilusions and the crazy thing is that, they say things that are impossible.

Keep in mind that both charts have FXCM data and even if they didn't thats not the point.

They assured that the first candle.. the one with the white arrow... starts at 5pm EST on sunday and it lasts 24 hours, ending at 5pm Est on monday.

But they also insist that having already 4 daily candles this week is completly right.

So, this is behond belief. They insist in something that is mathematically impossible.

In one side they say that we should have 4 X 24 candles until now, when we only have less than 72 hours of trading since the week started.

How stupid this guys are?

I know, its not a major deal, and i know that its not a problem for an experienced trader to put that aside.

But, really, am i wrong to insist that its just stupid and annoying to have a Daily Candle mixed with the others ,that in fact only has 2 hours of trading inside it?

i don't trade with Fxcm but yeah what you outlined in the above post really does put on some negtive light on the broker, i would'nt like any of my daily candles to get mixed up with other tf candles for any reaosn (infact is there a 2H tf atall??)

I see where you're coming from, but I don't think this is that unusual. I know for instance ODL has a short sunday candle on their charts as well. I think so does thinkorswim. Those are just the Brokers that I have experience with. I've heard other traders factor this into their trading style with other brokers as well, so I'm assuming this is fairly common. I don't know if it's the standard though. Either way I don't think fxcm will be changing this any time soon. To many people are used to it and trade with it in mind.

I would just learn to live with it

Well, i trade with that stupid candle for a long time now, but damn, its so weird.

But you're right, they said they will not change nothing because of two reasons.

The first, as i said, they insist that its my ilusion, when i already showed the different pics and the Impossible math.

The second, they said that in 100 000 users, none of them except me, talked about that.

So.. i guess i have to trade with a 2 hour candle mixed with 24 hour candles, and take it as normal.