Has FXCM brought back manual trading? | Forex Factory

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Has FXCM brought back manual trading?

  • #1
  • First Post: Edited 10:33pm Jul 21, 2008 5:08am | Edited 10:33pm
I am trying to close a trade and I am getting a window telling me waiting for dealer's answer. I thought manual trading was thing of the past?
  • #2
  • Jul 21, 2008 9:08am Jul 21, 2008 9:08am
are u serious? that is not sounding good. is that on normal fxcm or fxcm micro?

Also was the trade in profit?
  • #3
  • Jul 21, 2008 9:24am Jul 21, 2008 9:24am
I have closed my FXCM account a long time ago because of this.

It happened to me when I started making profits on most of my trades. Same happened to a friend as well. So I guess you are one of few people who are in profits as well.
  • #4
  • Jul 21, 2008 9:53am Jul 21, 2008 9:53am
looks like i am gonna have to close mine as well i don't want to start having these problems.
  • #5
  • Jul 22, 2008 2:41am Jul 22, 2008 2:41am
Quoting sarama001
I am trying to close a trade and I am getting a window telling me waiting for dealer's answer. I thought manual trading was thing of the past?
That error happens if the dealing desk is overloaded at the time. Maybe they need a new server?
  • #6
  • Jul 22, 2008 6:26am Jul 22, 2008 6:26am
Quoting oakmonster
That error happens if the dealing desk is overloaded at the time. Maybe they need a new server?
So what happened to their claim that they are a 'Non Dealing Desk'???
  • #7
  • Jul 22, 2008 8:19am Jul 22, 2008 8:19am
Quoting PipStar
So what happened to their claim that they are a 'Non Dealing Desk'???
Perhaps it was "extract of bovine male?"
  • #8
  • Jul 22, 2008 8:27am Jul 22, 2008 8:27am
all i know it if that happens to me and they do not close it properly i am out of there in no time.
  • #9
  • Jul 23, 2008 3:10am Jul 23, 2008 3:10am
Quoting Razorman
all i know it if that happens to me and they do not close it properly i am out of there in no time.
It depends on how often it happens for me. If it is consistently longer than say 5 seconds for me, I would be looking elsewhere. Once or twice, now and then is understandable. The internet is what it is.
  • #10
  • Jul 23, 2008 1:08pm Jul 23, 2008 1:08pm
Quoting sarama001
I am trying to close a trade and I am getting a window telling me waiting for dealer's answer. I thought manual trading was thing of the past?


Are you using their Micro Accounts? As I called in before to ask and the only thing they are saying is that their Micro Accounts are dealing desk and mini and standard accounts are still no dealing desk..
  • #11
  • Jul 23, 2008 1:30pm Jul 23, 2008 1:30pm
there is always a dealing desk. someone told me that at fxcm they have a big screen of all the profitable traders and they tend to watch those accounts more carefully. if you're getting the manual dealer message, it should be a badge of honor :-)

still looking for a broker. i think i might do interactivebroker.com
  • #12
  • Jul 23, 2008 2:38pm Jul 23, 2008 2:38pm
if that is the case this needs to be exposed to the public how can they f***ing do that. That is absolute BS.

Maybe they have a screen of profitable traders so they know who not to trade against.
  • #13
  • Jul 25, 2008 6:05pm Jul 25, 2008 6:05pm
Quoting Razorman
if that is the case this needs to be exposed to the public how can they f***ing do that. That is absolute BS.

Maybe they have a screen of profitable traders so they know who not to trade against.
You think right. All marketmakers monitor the traders to see who is profitable. They also make their policy very open and clear to everyone that they trade against their customers. They also make it clear that they may not trade against them all the time but it is their discretion to decide who to trade against.There is no hiding this fact. Frankly if a trader is profitable it should not matter to him whether he trades with a market maker or an ECN.
  • #14
  • Jul 25, 2008 7:06pm Jul 25, 2008 7:06pm
yeah the problem is if they start messing with the platform and u can't close the trade that is a problem.

As long as that doesn't happen everything else is fine.
  • #15
  • Jul 26, 2008 12:06pm Jul 26, 2008 12:06pm
Quoting Geelong_Cats
someone told me that at fxcm they have a big screen of all the profitable traders and they tend to watch those accounts more carefully.
WTF? That's crazy if true.
  • #16
  • Jul 26, 2008 12:42pm Jul 26, 2008 12:42pm
Quoting forexmoments
WTF? That's crazy if true.
It's not unexpected though if their trades are not actually put to market, but remain in house. Think about it. If all trades stay in house, the profitable ones hurt the bottom line right?
  • #17
  • Jul 26, 2008 1:37pm Jul 26, 2008 1:37pm
thats what i was thinking if these people start messing with the platform when my trades are profitable i am dropping them and i am gonna make a video and trash em on every single public forum.
  • #18
  • Jul 26, 2008 4:13pm Jul 26, 2008 4:13pm
Quoting oakmonster
That error happens if the dealing desk is overloaded at the time. Maybe they need a new server?
This is totally BS!

A Forex Trading Server is merely a database software.
A lowly Core Duo 2.00GHZ server can perform at least 10,000 orders a second easily. I doubt there are this much orders being processed at any given time at FXCM. And why would someone be placed in Manual Execution in such an age of computerization? Dont give me the BS "coz man is more accurate than computer" crap. This is BS! Humans have very high error rate while computer is 1 error in thousands of hours. Hmm maybe that is why they want to go manual. Humans error such that, you get erroneous entry and exits!

Manual Dealing Desk is a method for brokers to ensure YOU DONT GET THE BEST PRICE! Only profitable traders are placed in manual execution while the losers still stay in automation. Reason: they simply need to intervene and screw the winers in whatever they do.

It is a simple and proven psychological tactic perfected by casinos: if you are winning, change the dealers and slightly introduce some ire/distraction to the winning players.

I would move to a different broker if I were you.
  • #19
  • Jul 26, 2008 7:00pm Jul 26, 2008 7:00pm
Quoting Razorman
are u serious? that is not sounding good. is that on normal fxcm or fxcm micro?

Also was the trade in profit?
Well, I have an account with FXCM, this really sounds horrible, well if this is the case which I still didn't face yet, so your question would be is that on abnormal FXCM or FXCM micro-bus?
FXCM loves to tease their customers by new silly options and ideas.
The problem is that I'm used to their platform, better than many brokers, although less options.
  • #20
  • Jul 27, 2008 12:55am Jul 27, 2008 12:55am
I think they have rectified the issue. I would have found another broker. I think the issue came about when they converted me to micro account.
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