FXCM new no dealing desk platfrm

BurgerKing; NDD is a bait.

They know that people initially wanting to be in this NDD are "News Traders". Knowing that,

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they want to hurt you bad.

L.M.A.O

by the way, you can request to stay on the dealing desk platform. i called in asking if this was possible and they said it was fine. all i'd would need to do is send them an email. they're only defaulting accounts to no-dealing-desk going forward. personally, i can trade on either platform for the way i approach the market.i hope that helps.

i agree...most newbies tend to fancy themselves as news traders so this is probably why they're defaulting to that platform.

the harsh reality is that dealing desk or no dealing desk, unless a person knows how to trade those events they're going to get destroyed anyway.

so nothing against FXCM but they're not necessarily offering the uninformed/uneducated trader any advantages. the only traders that can take advantage of the no dealing desk are experienced traders.

Guys, I have personally tried their no dealing desk. LOL my laughing should be all that you need to hear to understand my opinion of it. A few nights ago I was trading and didnt realize that it was during a news time. I trader right around 1 min before the news came out. It was around 1:30 AM PST. Anyways I placed a sell order in and was going to wait for a few hours to see if the market would drop so I could get some points. Anyways, the news came out went the market fell 40 points. Of course, I was very happy because I accidently made a whole lot of money. I immidiatly closed my position and guess what, nothing happened!!!!! God is my witness, I tried closeing my position 5 to 8 times before the position actually closed and when it was all said and done I had only made around 16 or 17 pips. Yes, I was rather mad. I called and of course they gave me the whole spill of how they are trying to protect their customers of gapping. My responce to this is, if your trading station is quoting a price, then you better fill them at the price or dont advertise it on your trading station. I was supposed to be filled at the actual price I saw on my computer but FXCM stated that it was not a "true" price. Whatever, I have already found some other GREAT brokers that dont treat me like trash. I dont need FXCM in any way shape or form. I have been with them for 1.5 years and believe me, I can tell you more and more stories that will make you laugh or cry depending on how you look at getting ripped off. I learned my lesson. They are a Joke. Dont feel that you have to use them just because the are the biggest or largest FX group out there. Do NOT Be Fooled. Take it it from someone who has traded for quite some time now=)

Forgive the NFP day, common days with minor news will give you a price moved every time.

If you want to trade with NDD option, the spot orders could be filled or not. You never knows.

So, if you insist open the order with SL and TP, or, at least the TP.

But, you order never is filled at the price you set, always is 1 pips above/below.

Also, the wonderful FxStation don´t let you pre-set default SL/TP point as the way you can do with MT or DealBook or other.

The a visual trap: FXCM says "as low as 2 pips".
Well, this happens 10 minutes per day , specially after the news when you can´t open/close trade due to market movements. Very funny.

Also, the rest of the day the spread is 3 pips for the EURUSD and 4 for GBPUSD.
But if your orders are filled 1 pips above/below in fact they´re widening the spread and the EURUSD 4/5, also GBPUSD.

IE. Set to sell 1 lot at 1.9500 TP 1.9450. Spread is not fixed, so we bet a 4 pips. Orders is filled 1.9499 TP filled 1.9451.

4 pips spread + 1 pip in the sell + 1 pip in the TP = your real spread is 6 pips.

Pls, check my words by yourself.

During not heavy activity periods like after NY close, the spreads are in 4 pips for EURUSD and 5/6 for GBPUSD. Sunday is 6 for EUR and 8 for GBP.

Last week, during the big fall on GBP from 1.9600 to 1.9200 stated on Sunday to Monday I had to eat 8 pips spread in my sell orders and I was in Asian session.

This is a typical case where the broker wants to trade like they want (position trades), not like you want.

Also, I refused to move my account to NDD and I rejected the email warning me about the change, and they do it anyway.