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FXCM UK Metatrader Liquidity Feed - Comments & Issues

  • #1
  • First Post: Aug 14, 2009 10:31am Aug 14, 2009 10:31am
Hello

I would like some feedback from other users of the FXCM Metadtrader based Liquidity feed in the UK, I have had some SERIOUS issues which have lost me a LOT of money and I would like to compare my experiences with other users of this feed.
  • #2
  • Aug 29, 2009 5:32pm Aug 29, 2009 5:32pm
Quoting Garthy
Hello

I would like some feedback from other users of the FXCM Metadtrader based Liquidity feed in the UK, I have had some SERIOUS issues which have lost me a LOT of money and I would like to compare my experiences with other users of this feed.
Hye Garthy...
As far as i concern,could you please give the fault that u experienced ?
It will be easy got me to see,and i can update FXCM about your issues...TQ
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  • #3
  • Aug 29, 2009 7:49pm Aug 29, 2009 7:49pm
Quoting Garthy
Hello

I would like some feedback from other users of the FXCM Metadtrader based Liquidity feed in the UK, I have had some SERIOUS issues which have lost me a LOT of money and I would like to compare my experiences with other users of this feed.
To be fair to your broker you should talk to them first and document your evidence. I have been with IBFX (a company often slammed here at FF) for many years and they have always cleared up any problems I had with them except one time. When they did not, I documented the evidence and posted it here at FF. Even though they would never admit to what was going on the practice soon ended after that. Take the time to talk to your broker, most people dont understand the cost a company spends to get a customer and the attempt to keep them. During this time of FIFO many of these overseas companies are trying very hard to pick up customers and they want to settle any issues quickly. So document your complaint, make it clear and easy to understand, talk to your broker, and then if you cant get any satisfaction go to www.forexpeacearmy.com they help traders with complaints and the legal process. Then after all that you can come back and tell us about your issues here on FF. FXCM is in the business of getting and retaining customers. I am sure they want to help you solve any problems. Just some advice.
  • #4
  • Sep 1, 2009 4:22am Sep 1, 2009 4:22am
I recently started trading with FXCM UK since my IBFX does not let me enter straddle orders any longer due to the new rules. Since my strategy calls for this type of entry and I was fed up with entering order in 2 separate accounts at IBFX I decided to open the new account.

Although I am not having any problems with execution it has been a pain dealing with them.

And now I see that I cannot close partial positions. When I chatted with someone there online they were downright rude.

Of course there are work arounds but I cannot see the problem and why they deal in this way.

Anyway....
  • #5
  • Sep 1, 2009 11:44am Sep 1, 2009 11:44am
Quoting Garthy
Hello

I would like some feedback from other users of the FXCM Metadtrader based Liquidity feed in the UK, I have had some SERIOUS issues which have lost me a LOT of money and I would like to compare my experiences with other users of this feed.
nanningbob has great advice and FXCM would definitely like to resolve any issues that may be occuring. We will do everything in our power to help resolve technical issues, and if a technical issue on our side affects your trading we can perform a trade audit. FSA regulations for FXCM UK require us to open an audit case anytime a client asks about trade execution (even if you tell us you don't want an audit we are required to open one).

Quoting Naresh
When I chatted with someone there online they were downright rude.
And to Naresh, we are happy to have your business and rude chat support is not something that we wish to tolerate. If you email/private message me, I can see to it that it is addressed.

-Jason
  • #6
  • Edited 6:23pm Sep 2, 2009 3:22am | Edited 6:23pm
Thanks for all your comments.



Regards
  • #7
  • Sep 8, 2009 3:02pm Sep 8, 2009 3:02pm
Hello, I would like to share with you a very annoying and disturbing experience.
I have been trading with FXCM for 10 months and had many times a delay problem between the click to execute an order and the actual execution of the order. However it was bad but never as bad as today (8 Sep 09)
I was doing good on the demo account and because there has been sometimes a delay of several minutes to get the order processed I have lost 20% of my account.
My internet connection was working perfectly and was even able to watch videos on Youtube. I was even hard connected to the ethernet port.
Because of that reason, I have decided to CLOSE my live account with FXCM as I wouldn't bare to see my profit vanished stupidly.
I am now looking for another fast broker with low spread. Could you please let me know of any good broker with a simple interface to place orders.
Many thanks in advance.
  • #8
  • Sep 8, 2009 4:45pm Sep 8, 2009 4:45pm
Quoting don_choa
Hello, I would like to share with you a very annoying and disturbing experience.
I have been trading with FXCM for 10 months and had many times a delay problem between the click to execute an order and the actual execution of the order. However it was bad but never as bad as today (8 Sep 09)
I was doing good on the demo account and because there has been sometimes a delay of several minutes to get the order processed I have lost 20% of my account.
My internet connection was working perfectly and was even able to watch videos on Youtube. I was even...
Hi don choa,

I checked with client services and didn't see any reported technical issues with MT4 today. The website www.fxstatus.com will also be updated anytime we are experiencing technical issues. However, I can still have this looked into for you as our records keep track of processing time for orders in which case we can open a trade audit. Please feel free to contact me by private message or email.

Jason Rogers
FXCM
  • #9
  • Sep 8, 2009 7:05pm Sep 8, 2009 7:05pm
Quoting don_choa
Hello, I would like to share with you a very annoying and disturbing experience.
I have been trading with FXCM for 10 months and had many times a delay problem between the click to execute an order and the actual execution of the order. However it was bad but never as bad as today (8 Sep 09)
I was doing good on the demo account and because there has been sometimes a delay of several minutes to get the order processed I have lost 20% of my account.
My internet connection was working perfectly and was even able to watch videos on Youtube. I was even...

Just a side note, you should never be trading a lot size where you could lose 20% of your account in a matter of minutes. You are inviting disaster, there are simply too many variables to risk trading that big of a percentage of an account unless you use account size as your final stop loss. For example, you could have 10,000 dollars in an account and trade 1 dollar lots or you can have 200 dollars in your account and trade 1 dollar lots. Your stop loss is the 200 dollars and you keep your other 9800 safe in your bank. That would be the only logical reason to trade that way. Just a thought.
  • #10
  • Sep 9, 2009 3:05am Sep 9, 2009 3:05am
Quoting nanningbob
Just a side note, you should never be trading a lot size where you could lose 20% of your account in a matter of minutes. You are inviting disaster, there are simply too many variables to risk trading that big of a percentage of an account unless you use account size as your final stop loss. For example, you could have 10,000 dollars in an account and trade 1 dollar lots or you can have 200 dollars in your account and trade 1 dollar lots. Your stop loss is the 200 dollars and you keep your other 9800 safe in your bank. That would be the only logical...
Hi,
Thanks for your concern. What make you say I used 1 lot size risking 20pct of my account. I placed many orders and I was making profits. I tried to close my positions but was unable to do so. And when the execution went through I was loosing money. The response time of the platform came back to normal so I placed other orders just to see it again fail to open and close position, limit and stop orders in due time.
If you think this happening on maybe 5 to 10 trades, it's very easy to lose 20pct of your account.
  • #11
  • Sep 9, 2009 3:31am Sep 9, 2009 3:31am
Also Don, if you want to discuss how to read the logs or anything else to do with keeping records, then you'd be best to PM me, as I am a "junior" member I am not allowed to do this yet. Also all my messages on the board are delayed as they are moderated manually.
  • #12
  • Sep 9, 2009 8:58am Sep 9, 2009 8:58am
Quoting don_choa
Hi,
Thanks for your concern. What make you say I used 1 lot size risking 20pct of my account. I placed many orders and I was making profits. I tried to close my positions but was unable to do so. And when the execution went through I was loosing money. The response time of the platform came back to normal so I placed other orders just to see it again fail to open and close position, limit and stop orders in due time.
If you think this happening on maybe 5 to 10 trades, it's very easy to lose 20pct of your account.
Hi Don,

I received your private message, but your private messages are disabled for me to reply.

You sent through a micro demo username, and you also mentioned the MT4 account is a demo account as well. Please contact me directly at [email protected] in regards to the live account.

Being confident in the ability to close the position on the platform is important. If there is a technical issue occuring on our side that is preventing you from closing a trade then we can open a trade audit to review the trade and make any adjustments. However, if there are no technical issues then something outside of FXCM's control not related to our server may be occuring. In that case we need to troubleshoot in real time.

Jason
  • #13
  • Last Post: Sep 10, 2009 3:02am Sep 10, 2009 3:02am
My previous message somehow got lost and was not posted, but was overwritten by my last message, so sorry if it doesnt make sense.

don_choa

What I said was to check you log files, they are held in the Metatrader directory in a directory called "logs" also there are expert advisor logs under "experts" "logs".

These files can be opened in notepad, and all of you trades and attempted trades will be listed, you should also see the implications of any delays, this is the best way to check what has been happening with you trades, or EA trades.

Regards
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