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FXCM Discussion

  • #1,781
  • Mar 10, 2011 6:49pm Mar 10, 2011 6:49pm
Quoting HoangTuan
Hi,
Thank you for your help .
I just tried to test Trading Station II with demo account to see how good it is . It's really amazing platform with instant execution , it's really great with "Close all positions" just by one click...

Setup the Double Click with a SL at a fixed pip price with trailing on if you want, it's only EU really that has lower spreads elsewhere, There software sells it for me, MT3 confused the hell out of me.

Don't really notice spreads going crazy at news time, but don't really trade news it's to fast and risky for me.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,782
  • Mar 10, 2011 11:04pm Mar 10, 2011 11:04pm
Does TSG has wider spreads ? i noticed this on the demo ...
  • #1,783
  • Mar 11, 2011 8:54am Mar 11, 2011 8:54am
Quoting slade1986
Any one know of a strategy for TS that will close a percentage of a trade at a desired level and then move the balance to BE?

Thanks!
Hi slade,

I have not seen this strategy created for TSII. If you post a request on FXCodeBase along with the details of what the strategy should do, they may be able to create a custom strategy for you for free http://www.fxcodebase.com/code/viewf...?f=31&start=25

-Jason
  • #1,784
  • Mar 12, 2011 8:40am Mar 12, 2011 8:40am
Guys be carefully because FXCM changed terms of business......
  • #1,785
  • Mar 12, 2011 11:21am Mar 12, 2011 11:21am
Quoting gioviforex
Guys be carefully because FXCM changed terms of business......
yeah i'm agreed with you. Just received their email today regarding their new terms of business.
  • #1,786
  • Mar 12, 2011 11:42am Mar 12, 2011 11:42am
and they would be....
  • #1,787
  • Mar 13, 2011 12:55am Mar 13, 2011 12:55am
can anyone understand what the effect of fxcm's new terms of business will be on our trading accounts and activity? They seem to be making execution of trades slower and fewer guarantees of getting filled. I am a client.
  • #1,788
  • Mar 13, 2011 3:48am Mar 13, 2011 3:48am
Hi Mr Jason Rogers

Fxcm offers $25.00 prefunded No Deposit account.
But there is some discrimination in it .It does not offer and refuses to open this free account From few countries such as Pakistan.
Do you think FXCM will review this policy and allow to open this account from all the countries as we regard FXCM a global company ??

arasheed
  • #1,789
  • Edited 5:29am Mar 13, 2011 4:52am | Edited 5:29am
Also last year they changed T&Cs , but this doesnt change the business model ...
  • #1,790
  • Mar 13, 2011 10:25pm Mar 13, 2011 10:25pm
Can anyone from FXCM tell us why the terms had been amended?

Does this have to do anything with the Investigation?

Am I correct that FXCM will not segregate (Guarantee) our money deposited?

Honestly I am very concerned about the amended Terms of Business.
  • #1,791
  • Mar 14, 2011 4:56am Mar 14, 2011 4:56am
Quoting jeffjeffz
Can anyone from FXCM tell us why the terms had been amended?

Does this have to do anything with the Investigation?

Am I correct that FXCM will not segregate (Guarantee) our money deposited?

Honestly I am very concerned about the amended Terms of Business.
clients money will be held separate from fxcm's no new here ...
  • #1,792
  • Mar 14, 2011 5:40am Mar 14, 2011 5:40am
retail client money will be held seperate, professional will not.

I'M not sure on the reasoning there.
  • #1,793
  • Mar 14, 2011 5:40am Mar 14, 2011 5:40am
Is there an official from FXCM responding in this thread?
  • #1,794
  • Mar 14, 2011 6:18am Mar 14, 2011 6:18am
Quoting jeffjeffz
Can anyone from FXCM tell us why the terms had been amended?

Does this have to do anything with the Investigation?

Am I correct that FXCM will not segregate (Guarantee) our money deposited?

Honestly I am very concerned about the amended Terms of Business.
I don't think there is any concern about guarantee of deposits. I am concerned about why they don't allow to avail free Micro $25.00 to few countries.
arasheed
  • #1,795
  • Mar 14, 2011 6:59am Mar 14, 2011 6:59am
Quoting jeffjeffz
Can anyone from FXCM tell us why the terms had been amended?

Does this have to do anything with the Investigation?

Am I correct that FXCM will not segregate (Guarantee) our money deposited?

Honestly I am very concerned about the amended Terms of Business.
Nothing to be concerned about, fxcm is just informing you that they segregate your money so that it's clearly notes as yours & that they may move your fund to other banks that is outside the united kingdom or europe. However the FSA regulations & assurances remains intact, which is the most important thing.
This is assuming that you are classified as a retailer & not a money manager etc.
Thank You
  • #1,796
  • Mar 14, 2011 9:15am Mar 14, 2011 9:15am
Quoting arasheed
Hi Mr Jason Rogers

Fxcm offers $25.00 prefunded No Deposit account.
But there is some discrimination in it .It does not offer and refuses to open this free account From few countries such as Pakistan.
Do you think FXCM will review this policy and allow to open this account from all the countries as we regard FXCM a global company ??

arasheed
Hello arasheed,

In previous year's we had a trade show promotion for a free $25 micro account; however, this promotion is no longer available for any country.

-Jason
  • #1,797
  • Mar 14, 2011 9:29am Mar 14, 2011 9:29am
Quoting jeffjeffz
Am I correct that FXCM will not segregate (Guarantee) our money deposited?
Hi Jeff,

Accounts with FXCM UK are segregated in accordance with FSA client money rules. The FSA is the UK regulatory body which regulates FXCM UK. In the unlikely event of default, client funds held in segregated accounts are protected, and cannot be used to benefit other creditors. All of these details can be found in the terms of business when opening the account.

-Jason
  • #1,798
  • Mar 14, 2011 1:05pm Mar 14, 2011 1:05pm
Quoting Jason Rogers
Hi Jeff,

Accounts with FXCM UK are segregated in accordance with FSA client money rules. The FSA is the UK regulatory body which regulates FXCM UK. In the unlikely event of default, client funds held in segregated accounts are protected, and cannot be used to benefit other creditors. All of these details can be found in the terms of business when opening the account.

-Jason

Hi Jason,
Thanks for your reply.

But below confirms that money is not segregated.

10 Feb 2011 ... You expressly acknowledge that any money you transfer to us will not be segregated from FXCM's own money, and that you will rank as a general creditor of FXCM in the event of insolvency or an equivalent failure.

Thanks
Jeff
  • #1,799
  • Mar 14, 2011 1:31pm Mar 14, 2011 1:31pm
Quoting jeffjeffz
Hi Jason,
Thanks for your reply.

But below confirms that money is not segregated.

10 Feb 2011 ... You expressly acknowledge that any money you transfer to us will not be segregated from FXCM's own money, and that you will rank as a general creditor of FXCM in the event of insolvency or an equivalent failure.

Thanks
Jeff
This for the professional client , for retail clients like us :
"client money will be held separate from Fxcm's ..."
  • #1,800
  • Mar 14, 2011 1:57pm Mar 14, 2011 1:57pm
Quoting jeffjeffz
Hi Jason,
Thanks for your reply.

But below confirms that money is not segregated.

10 Feb 2011 ... You expressly acknowledge that any money you transfer to us will not be segregated from FXCM's own money, and that you will rank as a general creditor of FXCM in the event of insolvency or an equivalent failure.

Thanks
Jeff
Hi Jeff,

Tar is correct...the part you referenced refers to clients classified as professionals. As a retail client, the account is segregated in accordance to FSA client money rules. In order to be classified as a professional client, the FSA specifies that you have to meet at least two of the following criteria:

 

  1. the client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
  2. the size of the client’s financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds EUR 500,000;
  3. the client works or has worked in the financial sector for at least one year in a professional position which requires knowledge of the transactions or services envisaged.


All listed in this FSA publication here.

-Jason

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