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FXCM Micro Account Trading Environment Test

  • #141
  • Jan 29, 2010 12:30am Jan 29, 2010 12:30am
Quoting bootsyjam
In reply to you 8fingers. I've been trading for 3 years. I wasn't aware that the amount of posts, or how long you've been posting on these forums, was a guide to trading experience.
I have various accounts with other brokers, and am therefore able to post on what is good/bad.

As for your own experience, I'm not too sure why someone with over 5 years of trading fx, or other markets, would bother to be trading a micro account for a few months with just $500 in it.

If you were a trader with 5 years experience I would also expect you to make...
I should have noticed this post before-the ONLY thing I admire about this post are the arguments bootsyjam makes about practically EVERYTHING! In Forex(especially Forex) skepticism is a healthy reaction to anything unfamiliar. He is wrong about the negative Spreads-they do exist but are very rare. I actually saw this again today on the GBP/USD (-.2 for maybe 2 seconds)As I now own a MicroAccount, I am seriously trading this account to extract profit(this was NOT the original aim of this test-platform reliability was the test). And yes, my "real" account is over at MBT traded on their Navigator platform. This is my main account and as such is given almost all my attention. It was my only account during this Micro platform test after FXPro.com asked me to leave and close that account. I am curious who are the "others" that are dubious of this test and these posts? Do they have names? I am not connected to - or employed by-in any capacity-FXCM-or any of their companies. I would,however, jump at the chance to interview for a position with FXCM( why not work for a industry leading company that has improved their service immensely since I last traded with them?) The withdrawal Process- I am a little shocked that you didnt 1st investigate their withdrawal procedure. It is clearly spelled out on their website/the paperwork I am sure they made u sign to open account. Also-sending in a paper withdrawal request is a Forex industry STANDARD. Almost all Brokerages do this. My surprise about the MicroAccount was the absence of this procedure.Withdrawals are entirely online and instant. Whats even more interesting is the fact that I dont think you even know what type of account you opened at FXCM UK! About Slippage-I only use strait Market orders-nothing else. I DO NOT GET SLIPPAGE-I do get requotes occasionally but ONLY during a fast moving Market when prices are changing faster than my trade request. This is 100% normal and has never resulted in a lost trade.
I have only this to add for all non-believers, for as little as 25 bucks US anyone can get a Micro Account and take the test drive. The change in platform performance from 3 years ago IS dramatic. And for the better. If this is considered an Advertisement -well OK - but remember its also the truth. And lastly -bootsyjam-I doubt you have traded Forex for 3 years. 3 years in this market usually affords a trader a better understanding what IS and what SHOULD be?
FF = Forex Faggots
  • #142
  • Edited 10:32am Jan 29, 2010 10:11am | Edited 10:32am
Any way to turn off hedging on a micro UK ?
  • #143
  • Jan 29, 2010 2:07pm Jan 29, 2010 2:07pm
Quoting mofuniverse
Any way to turn off hedging on a micro UK ?
I made the same request and was told to transfer to a US account, which I did.

Hi Roger,

is there an emergency number for micro account holders?
  • #144
  • Jan 29, 2010 6:56pm Jan 29, 2010 6:56pm
My test withdrawal (100.00 bucks) has just arrived by mail. 9 days after I requested it. Not bad? (Website states 10-15 days). I like this MicroAccount even more than yesterday. Everything done by email thru their website and/or trading Platform. No one screwed anything up and the USMail worked as advertised. This is the way to trade retail Forex online and FXCM has "got it right".
FF = Forex Faggots
  • #145
  • Jan 29, 2010 9:31pm Jan 29, 2010 9:31pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting 8fingers
My test withdrawal (100.00 bucks) has just arrived by mail. 9 days after I requested it. Not bad? (Website states 10-15 days). I like this MicroAccount even more than yesterday. Everything done by email thru their website and/or trading Platform. No one screwed anything up and the USMail worked as advertised. This is the way to trade retail Forex online and FXCM has "got it right".

10 to 15 days?? 9 days??They sent out the money by a pigeon??

This is stone age service.....USMail worked as advertised

---------------------------------------------
http://www.myfxbook.com/members/pc8multifx
  • #146
  • Edited 9:51pm Jan 29, 2010 9:37pm | Edited 9:51pm
Quoting onu
10 to 15 days?? 9 days??They sent out the money by a pigeon??

This is stone age service.....USMail worked as advertised

---------------------------------------------
http://www.myfxbook.com/members/pc8multifx
Never fails-no matter what you say on this forum-there is always an asshole blaming the world because their mommy didnt breastfeed them!-lol. Or in Onu's case-never stopped?
FF = Forex Faggots
  • #147
  • Jan 29, 2010 10:37pm Jan 29, 2010 10:37pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Listen ?brain??washed FXCM slave... more respect for my 89 years old mother!

---------------------------------------------
http://www.myfxbook.com/members/pc8multifx
  • #148
  • Jan 30, 2010 12:21am Jan 30, 2010 12:21am
Quoting 8fingers
Never fails-no matter what you say on this forum-there is always an asshole blaming the world because their mommy didnt breastfeed them!-lol. Or in Onu's case-never stopped?
if i have a micro AC in FXCM, so i can't trade starnderd lot?
  • #149
  • Jan 30, 2010 1:00am Jan 30, 2010 1:00am
I'll just live with it. I want the UK for the LEVERAGE and freedom unlike the U.S.. in case i want to close a position on my iphone (they have an fxcm app) when i close the trade it hedges it instead of closing it. But i'll just do that and just close it later when i get home. Your question about Phone Support NO micro does not have any phone support, if you want phone ability you have to have a standard account. I didnt like that but now that iphone has an app. i can close a position using that. also its great if house internet goes out

Quoting DennyC
I made the same request and was told to transfer to a US account, which I did.

Hi Roger,

is there an emergency number for micro account holders?
  • #150
  • Jan 30, 2010 8:46am Jan 30, 2010 8:46am
Quoting onu
Listen ?brain??washed FXCM slave... more respect for my 89 years old mother!

---------------------------------------------
http://www.myfxbook.com/members/pc8multifx
Yea -your right. I shouldnt have dragged your mum into this. For that I am sorry! You are,however,still an asshole.
FF = Forex Faggots
  • #151
  • Jan 30, 2010 11:30am Jan 30, 2010 11:30am
Quoting xiao
if i have a micro AC in FXCM, so i can't trade starnderd lot?
My MicroAccount Platform will allow up to and including 10 MicroLots(I believe this is equal to 1 MiniLot (10 miniLots=1 standard Lot). So i am pretty sure the answer to your question is NO. Only 1/10th a Standard lot is possible. I believe you would have to upgrade your Micro to a Standard Account to trade bigger Lotsize. Of course you could just email FXCMMicro for answer? Standard accounts come with trade offs though, generally wider Spreads are one but you get "live" service/phone support and the ability to trade much larger LotSize. Call em?
FF = Forex Faggots
  • #152
  • Jan 30, 2010 12:10pm Jan 30, 2010 12:10pm
You are not limited to that, simply click on the box and input the numbers yourself. example = 11 , 20,25,100,200k


Quoting 8fingers
My MicroAccount Platform will allow up to and including 10 MicroLots(I believe this is equal to 1 MiniLot (10 miniLots=1 standard Lot). So i am pretty sure the answer to your question is NO. Only 1/10th a Standard lot is possible. I believe you would have to upgrade your Micro to a Standard Account to trade bigger Lotsize. Of course you could just email FXCMMicro for answer? Standard accounts come with trade offs though, generally wider Spreads are one but you get "live" service/phone support and the ability to trade much larger LotSize. Call...
  • #153
  • Jan 30, 2010 12:30pm Jan 30, 2010 12:30pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting 8fingers
Yea -your right. I shouldnt have dragged your mum into this. For that I am sorry! You are,however,still an asshole.
Curb your tongue! You're such a bad, bad boy :nerd:

Go back to your room and play with your model-railroad and with your micro account.....thats the place where kids belong

---------------------------------------------
http://www.myfxbook.com/members/pc8multifx
  • #154
  • Jan 30, 2010 1:20pm Jan 30, 2010 1:20pm
Quoting onu
Curb your tongue! You're such a bad, bad boy :nerd:

Go back to your room and play with your model-railroad and with your micro account.....thats the place where kids belong

---------------------------------------------
http://www.myfxbook.com/members/pc8multifx
I do so love my train sets (and my Micro Account) and Forex. And I am a kid at heart. And since you have breasts and a vagina-I"ll love you too.
FF = Forex Faggots
  • #155
  • Jan 30, 2010 1:29pm Jan 30, 2010 1:29pm
Quoting mofuniverse
You are not limited to that, simply click on the box and input the numbers yourself. example = 11 , 20,25,100,200k
I stand corrected-thanks mofuniverse-I will limit myself to the test questions only for now on-I hate to give incorrect advice.
FF = Forex Faggots
  • #156
  • Jan 30, 2010 5:18pm Jan 30, 2010 5:18pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting 8fingers
I do so love my train sets (and my Micro Account) and Forex. And I am a kid at heart. And since you have breasts and a vagina-I"ll love you too.

Did your mom and dad ever go to a psico specialist with you?

First this odd addiction to all these tiny things, like model-railroads and micro accounts and than this strange fantasies of my 89y.old mother breast feeding me and now u falling in love with an 44y.young male(married, two kids) with breasts and vagina.......

Oh kid, i hope its not to late for u.....

---------------------------------------------
http://www.myfxbook.com/members/pc8multifx
  • #157
  • Feb 1, 2010 1:23pm Feb 1, 2010 1:23pm
Quoting DennyC
I made the same request and was told to transfer to a US account, which I did.

Hi Roger,

is there an emergency number for micro account holders?
Quoting DennyC
Quote
Any way to turn off hedging on a micro UK ?

I made the same request and was told to transfer to a US account, which I did.

Hi Roger,

is there an emergency number for micro account holders?
Hi Denny and mofuniversise,

There's no option to turn off hedging in the micro account through FXCM UK. All of the accounts are setup the same.

And support is available through the interactive forum and email. There's no phone support since it's our discount brokerage.

For account customization and access to phone support, you would need to have a standard 10k account.

-Jason
  • #158
  • Feb 4, 2010 2:16am Feb 4, 2010 2:16am
Hello Jason,
I am trying to open a FXCM Micro UK account. I am a resident of the US and your application does not have the option to select "US" in the Country of residence dropdown, due to which i am unable to proceed and complete the application. Could you please advise how i can overcome this issue?

Regards
  • #159
  • Feb 4, 2010 4:28am Feb 4, 2010 4:28am
Quoting bravester
Hello Jason,
I am trying to open a FXCM Micro UK account. I am a resident of the US and your application does not have the option to select "US" in the Country of residence dropdown, due to which i am unable to proceed and complete the application. Could you please advise how i can overcome this issue?

Regards
They are one of the strangest bunch FXCM. They don't allow U.S residents as well as residents of Australia to open a micro account. Yet they have a micro trading competition with prizes which are available only to some parts of the world.
  • #160
  • Feb 4, 2010 10:01am Feb 4, 2010 10:01am
Quoting bravester
Hello Jason,
I am trying to open a FXCM Micro UK account. I am a resident of the US and your application does not have the option to select "US" in the Country of residence dropdown, due to which i am unable to proceed and complete the application. Could you please advise how i can overcome this issue?

Regards
Hi bravester,

Thanks for the post. At the moment, we don't have an application for US residents to directly apply for the micro account through FXCM UK. We're working on it.

Here's how to overcome this issue for now. First, you will need to setup the micro account through FXCM US. Once the account is complete and funded, you can request it be transferred to FXCM UK by completing the opt-in form found on this webpage http://www.forexmicrolot.com/fxcmltd-micro-opt-in.jsp

And that will do it.

-Jason
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