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FXCM Micro Account Trading Environment Test

  • #41
  • Nov 16, 2009 8:51am Nov 16, 2009 8:51am
Quoting 8fingers
lol-no problem. Does Tradestation2 have the ability (like MT4) to code own users
strategy(like EA's)?If so-where does one go to "learn" this language online?
It is possible to create custom indicators for the FX Trading Station II. No functionality yet for coding your strategy like an EA. The indicator SDK can be requested here http://www.fxprogrammers.com/api_request.htm and www.fxprogrammers.com has an FAQ and help section.

I've heard that LUA is easier to use than MQL, but programming is something I have no first hand experience with.

Jason
  • #42
  • Nov 16, 2009 9:21am Nov 16, 2009 9:21am
Quoting 8fingers
Very difficult to Enter/Exit trades in a "moving" market.
Nothing has changed. I think we already knew that. They just don't have enough liquidity. If you can't do this on a micro account, it is even harder on a standard account.
  • #43
  • Nov 16, 2009 9:54am Nov 16, 2009 9:54am
hello,i want to know FXCM Micro account is 1:400 or 1:200 leverage?
  • #44
  • Nov 16, 2009 1:33pm Nov 16, 2009 1:33pm
Quoting PipStar
Nothing has changed. I think we already knew that. They just don't have enough liquidity. If you can't do this on a micro account, it is even harder on a standard account.
A fast moving market is an indication of illiquidity. Sending a market order with market range = 0 during a fast moving market will naturally increase the chances that the order is rejected. How the market order is setup (market range vs. at best) will make a difference in whether the order is filled or rejected.
  • #45
  • Nov 16, 2009 2:22pm Nov 16, 2009 2:22pm
I have been trading Forex for 4 years solid. I have almost no experience scalping. I do remember that when my previous account thru FXCM was active my tradestation2 platform would freeze-for 10-15-20 minutes during heavy trading. Sometimes w/o even heavy trading. In that time I had 3 different Internet providers and all their performance was about equal-and still those freeze ups persisted. Since I have had this Live account test-not one freeze up. Requotes I accept as the price of trading. I am a daytrader/Position trader at heart and requotes would never cause me any concern(widening of spread would though-I have seen this only once so far during this test and have actually seen negative spreads as well) I am pleased with the performance of Tradestation2 Micro account environment and would recommend FXCM to trade a Micro based on my experience during this test.
FF = Forex Faggots
  • #46
  • Nov 16, 2009 6:10pm Nov 16, 2009 6:10pm
I am going to try the FXCM micro this week with a real account. I have been demo testing it for the past 2-3 weeks and it's been acting more or less OK. I am a price action trader, which means I operate on very low time frames - 5M mostly, sometimes going to 1M for more details. Some may call this scalping. The truth is I couldn't be bothered with labels as long as I feel comfortable with my trades. Anyway. I will try to give 8fingers a hand in his thread and post some impressions here from my live accounts experience with FXCM micro once I get to trade for real there (probably yet this week).
  • #47
  • Nov 17, 2009 10:31pm Nov 17, 2009 10:31pm
RE: Post 41: (LUA)
LUA sucks! It is a non-standard dog shit language written by a bunch of bored college kids. Why anyone would choose this p-o-s is beyond me. Maybe because it is free, Yep, and worth every penny.
  • #48
  • Edited Nov 18, 2009 4:00am Nov 17, 2009 10:52pm | Edited Nov 18, 2009 4:00am
FXCM micro screwed me up !

Ticket Number: 15972039

I had placed a limit order to liquidate my short position in GBP/USD at 1.67710. The price went to as low as 1.67634.

But FXCM micro didnt executed my order ! I am screwed up as price went back to 1.68330 levels.

I wanted to liquidate this position since last night and now when opportunity came, FXCM micro didnt executed my order.

I also use oanda platform...it is superb. The only reason i had opened an account with FXCM Mirco was its high leverage opportunity.

I want to cry ! FXCM Micro screwed me !
  • #49
  • Edited 10:03am Nov 18, 2009 9:50am | Edited 10:03am
Quoting kingfisher
FXCM micro screwed me up !

Ticket Number: 15972039

I had placed a limit order to liquidate my short position in GBP/USD at 1.67710. The price went to as low as 1.67634.

But FXCM micro didnt executed my order ! I am screwed up as price went back to 1.68330 levels.

I wanted to liquidate this position since last night and now when opportunity came, FXCM micro didnt executed my order.

I also use oanda platform...it is superb. The only reason i had opened an account with FXCM Mirco was its high leverage opportunity.

I want to cry !...

Hi Kingfisher,

First, I would like to apologize about any grief this may have caused you. I took the time this morning to research the pricing during the 4:30am period when the low was reached, and I also reviewed the pricing from Oanda's website for a comparison. The low of 1.67634 was the lowest sell (bid) price quoted (I'm actually showing 1.67628 as the low, so a pip lower than what you saw). Since you have a short position, the buy (ask) price needs to quote your limit price of 1.67710 in order for the limit to go into process.

The tick chart in the FX Trading Station displays both the bid and ask prices so you can see the spread and whether your limit order (to buy) would have gone into process. Here is a screenshot of the chart:

http://img338.imageshack.us/img338/6...cmlowprice.jpg


The lowest buy (ask) price reached was 1.67735 at 4:30:22 EST. The ask missed your limit by 2.5 pips. The spread was 10.7 pips and this occurred during the BOE Meeting Minutes release.


Using FX Compare on Oanda's website to determine the low at 4:30:22 EST, the lowest buy (ask) price reached was 1.67761. I also checked the lowest sell price to compare the spread. Their sell price at the same moment according to FX Compare was 1.67611. Subtract the two and you get a spread of 15 pips. Below are the screenshots from FX Compare displaying the prices (sell on the left, buy on the right):



http://img694.imageshack.us/img694/1786/fxcompare.jpg


In all fairness, Oanda's lowest ask price during the 4:30-4:35am period occurred at 4:34:58am EST touching the price 1.67737, so the lowest ask price quite nearly reached our lowest ask price 4 minutes later.


I'm sorry your limit order was not executed; however, the price was not reached. If you're ever unsure about the execution of a trade, please do not hesitate to contact FXCM Micro support or open a trade audit for us to investigate.


Jason

  • #50
  • Nov 18, 2009 9:56am Nov 18, 2009 9:56am
Quoting lau007
hello,i want to know FXCM Micro account is 1:400 or 1:200 leverage?
Hi lau007,

Micro accounts through FXCM UK have 400:1 leverage.

Micro accounts through FXCM US will have their leverage adjusted to 100:1 on Sunday November 22nd to comply with the new NFA leverage requirements taking effect Nov. 30th.

-Jason
  • #51
  • Nov 18, 2009 6:51pm Nov 18, 2009 6:51pm
Quoting Jason Rogers
Hi lau007,

Micro accounts through FXCM UK have 400:1 leverage.

Micro accounts through FXCM US will have their leverage adjusted to 100:1 on Sunday November 22nd to comply with the new NFA leverage requirements taking effect Nov. 30th.

-Jason
Hello Jason,

Looking at your site, I do not see Micro accounts being available for FXCM UK.

http://www.fxcm.co.uk/open-forex-account.jsp

Also, after multiple conversations (I call multiple times to ensure I receive the correct answer) with FXCM reps in both UK and AUS, I have been assured that all FXCM accounts will have a new max of 200:1 leverage. That the 400:1 leverage will no longer be available, even upon request.

Is it true that FXCM UK Micro accounts will retain 400:1 leverage? If so, how do I sign up for an FXCM UK Micro account?
  • #52
  • Nov 18, 2009 9:51pm Nov 18, 2009 9:51pm
Quote
Hi Kingfisher,

First, I would like to apologize about any grief this may have caused you. I took the time this morning to research the pricing during the 4:30am period when the low was reached, and I also reviewed the pricing from Oanda's website for a comparison. The low of 1.67634 was the lowest sell (bid) price quoted (I'm actually showing 1.67628 as the low, so a pip lower than what you saw). Since you have a short position, the buy (ask) price needs to quote your limit price of 1.67710 in order for the limit to go into process.

The tick chart...


Hi Jason,

Thanks for your time and for an outstanding response.

I really like FXCM micro and it is the best in the market as compared to other brokers. Oanda allow 50:1 leverage which i feel is quite less, so FXCM micro is impressive.

Can you help me with entry order. Placing an entry order gives me confusion.

Here is a live example:

Current USD/JPY Quote: 89.148/89.161

Now i want to sell it at 89.190 but when i try to place a limit order for sell it shows me this error:

The rate of an entry order must be a positive real number < 89.097 or > 89.212


Why this error comes? I am not able to place the order at my own price and because of this i places the order at market price.
  • #53
  • Nov 18, 2009 10:14pm Nov 18, 2009 10:14pm
Quote
Hello Jason,

Looking at your site, I do not see Micro accounts being available for FXCM UK.

http://www.fxcm.co.uk/open-forex-account.jsp

Also, after multiple conversations (I call multiple times to ensure I receive the correct answer) with FXCM reps in both UK and AUS, I have been assured that all FXCM accounts will have a new max of 200:1 leverage. That the 400:1 leverage will no longer be available, even upon request.

Is it true that FXCM UK Micro accounts will...

I have FXCM UK Micro account. At the moment, it is 400: 1 leverage. For every $ 2.50 margin, i can trade 1000 units.

I also signed from that link and you will UK Micro account from that link.
  • #54
  • Nov 19, 2009 12:00am Nov 19, 2009 12:00am
I don't think opening a test account is a good way of marketing.

FXCM, I think you made the highest profit in the first quarter of 2009, before AVAfx, so why are you worried about traders who lose and shift blames on their brokers instead of their expertise?

Just keep doing your thing and don't worry about any negative comments about your service. Visit www.forexpeacearmy.com and tell me a broker who doesn't have any negative comment.

It's normal for traders to lose, and it's normal to shift blames.
  • #55
  • Nov 19, 2009 8:40am Nov 19, 2009 8:40am
Quoting Kenz987
RE: Post 41: (LUA)
LUA sucks! It is a non-standard dog shit language written by a bunch of bored college kids. Why anyone would choose this p-o-s is beyond me. Maybe because it is free, Yep, and worth every penny.
Hi Kenz,

I checked with our programming services on why LUA was chosen for the custom indicator language. Here's the information I received:

From a standardization perspective, most charting packages create their own proprietary language that is tailored to the platform. Though it’s not the most popular of languages, LUA has an extensive set of libraries that are available to utilize that would not be available if we had written our own language from scratch. Because it is a basic scripting language, most developers can pick up the syntax in less than a week. With regards to why this specific language, it has a very clean c based api that integrates very well into our current software. It also is licensed under the MIT license which gives us a lot of leeway with regards to making alterations to aide in integration. With regards to the origin Lua, it is true that a university played a part, but it was also sponsored by Petrobas, the largest company in the southern hemisphere. It is also important to keep in mind that bored college students created Linux, Apple’s OS X kernel BSD, EMACS, and Sendmail. Sometimes college students do pretty amazing things.
  • #56
  • Nov 19, 2009 9:03am Nov 19, 2009 9:03am
Quoting DodgeV83
Hello Jason,

Looking at your site, I do not see Micro accounts being available for FXCM UK.

http://www.fxcm.co.uk/open-forex-account.jsp

Also, after multiple conversations (I call multiple times to ensure I receive the correct answer) with FXCM reps in both UK and AUS, I have been assured that all FXCM accounts will have a new max of 200:1 leverage. That the 400:1 leverage will no longer be available, even upon request.

Is it true that FXCM UK Micro accounts will retain 400:1 leverage? If so, how do I sign up for an FXCM UK Micro...
Hi Dodge,

Thanks for the post. The micro application is not listed directly on the UK site as you noticed. The only way to apply for the micro account is through www.fxcmmicro.com . When you click on the application button, it will ask if you are a US resident or non-US resident. The non-US resident button automatically opens the account through FXCM UK. Choosing US resident automatically opens the account through FXCM US.

If you're a US resident and want to get the account to FXCM UK, you first have to apply for the account, fund it, and then request the account be transferred to FXCM UK. So there's an extra step. We are working on an additional application for US residents to apply for a micro account directly to FXCM UK. No time frame as of yet.

On the topic of leverage, FXCM UK and FXCM Australia will continue offering 200:1 leverage. 400:1 leverage will not be available except for micro accounts through FXCM UK which will retain 400:1 leverage.

BTW, FXCM is implementing the margin changes this weekend (Sunday Nov. 22nd).

-Jason
  • #57
  • Nov 19, 2009 9:15am Nov 19, 2009 9:15am
Jason,

I currently trade a FXCM USA micro account via the Order2Go API using my own custom C# application. If I were to have the account transferred to a UK account, are there any changes that need to be made on my end to assure a seamless (or near seamless) transition. My main concerns are whether the account number would be the same and whether I need to make changes to how I hook up to the FXCM servers. I had heard in the past that the FXCM server URL may be different for UK accounts, but what else do I need to consider?

Thanks,

Smoke
  • #58
  • Nov 19, 2009 3:03pm Nov 19, 2009 3:03pm
Quoting kingfisher
Hi Jason,

Thanks for your time and for an outstanding response.

I really like FXCM micro and it is the best in the market as compared to other brokers. Oanda allow 50:1 leverage which i feel is quite less, so FXCM micro is impressive.

Can you help me with entry order. Placing an entry order gives me confusion.

Here is a live example:

Current USD/JPY Quote: 89.148/89.161

Now i want to sell it at 89.190 but when i try to place a limit order for sell it shows me this error:

[b]The rate of an entry order must be a positive real...
Hi Kingfisher, anytime.

For the entry order, this is a limitation with the micro account. The entry order has to be at least 5 pips away from the current market price. There is no restriction like this on the standard 10k accounts.

-Jason
  • #59
  • Nov 19, 2009 3:16pm Nov 19, 2009 3:16pm
Quoting SmokyByers
Jason,

I currently trade a FXCM USA micro account via the Order2Go API using my own custom C# application. If I were to have the account transferred to a UK account, are there any changes that need to be made on my end to assure a seamless (or near seamless) transition. My main concerns are whether the account number would be the same and whether I need to make changes to how I hook up to the FXCM servers. I had heard in the past that the FXCM server URL may be different for UK accounts, but what else do I need to consider?

Thanks,

Smoke
Hey Smoke,

The account number stays the same if you move over to the UK and the URL for Order2Go stays the same. It's a pretty seemless transition. The main differences are probably the ones you're already aware of: hedging will be enabled automatically and FIFO doesn't apply.

-Jason
  • #60
  • Nov 20, 2009 3:47pm Nov 20, 2009 3:47pm
FXCM Ltd (UK) Micro – FAQ

1) What are the new margin requirements?

To view a full list of margin requirements visit the MARGIN TABLE.

2) When will the NEW margin requirements take effect?

At trading open on Sunday, November, 22nd.

3) Will my account be affected by this change?

All Micro accounts held with Forex Capital Markets Ltd (FXCM UK) will be affected by the new margin requirements.


[quote=Jason Rogers;3245950]Hi Dodge,

Thanks for the post. The micro application is not listed directly on the UK site as you noticed. The only way to apply for the micro account is through www.fxcmmicro.com . When you click on the application button, it will ask if you are a US resident or non-US resident. The non-US resident button automatically opens the account through FXCM UK.
On the topic of leverage, FXCM UK and FXCM Australia will continue offering 200:1 leverage. 400:1 leverage will not be available except for micro accounts through FXCM UK which will retain 400:1 leverage
...[/quote]
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