Is FXCM dealing desk a dinosaur? | Forex Factory

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Is FXCM dealing desk a dinosaur?

  • #1
  • First Post: May 2, 2006 9:37pm May 2, 2006 9:37pm
No directly linked chart package to trade on the chart.
Cant hedge.
Only offers lots and mini lots.

Any thoughts?

Lou
  • #2
  • May 2, 2006 10:05pm May 2, 2006 10:05pm
Quoting Lou
No directly linked chart package to trade on the chart.
Cant hedge.
Only offers lots and mini lots.

Any thoughts?

Lou
I tend to agree. I've been with them for almost a year and started looking for something more reliable than fxcm. No hedge, constant platform freezes, slippage, totally unreliable trailing stops. FXCM slowly become a dinosaur.
I'm leaning towards GFX Group or MIG. Mark
  • #3
  • May 2, 2006 11:35pm May 2, 2006 11:35pm
I think I am going with Oanda ... have been with CMS VT will continue . Like their chart pkg. But would be willing to give that up for a pkg that I could play around with that projects time into the future for fib time studies and even just placing markers and info. Cms does let you go into the future but does not show dates so you dont really know where you are. Oanda chart pkg is primitive but I like the ability to trade fractions of the dollar.

Lou
  • #4
  • May 2, 2006 11:38pm May 2, 2006 11:38pm
but it is the only choice in my country ! hic....hic....
  • #5
  • May 2, 2006 11:47pm May 2, 2006 11:47pm
Quoting adam3000
but it is the only choice in my country ! hic....hic....
I use Oanda, but at some point I'll be switching to Hotspot or IB... why can't you use Oanda?
Mr. Trend
  • #6
  • May 2, 2006 11:52pm May 2, 2006 11:52pm
Mr. Trend

What is the Hotspot and IB attraction for you... not familiar with them.

Lou
  • #7
  • May 2, 2006 11:56pm May 2, 2006 11:56pm
Quoting Lou
Mr. Trend

What is the Hotspot and IB attraction for you... not familiar with them.

Lou
fxHotspot is well established and I've heard various good comments about spreads and whatnot both online, and from my mentor.

I already have an account with IB (IRA), and I think they're top notch.

But more importantly, both brokers are ECNs... I know IB does not take the other side of your trade either...

Oanda, FXCM, etc., are retail and thus, you only see what they want you to see. Big difference between retail and ECN...

Out of all the retail brokers, however, I would only go with Oanda. They are top notch in my book and here's why:

When silver decided to crash a week ago, and while all the other brokers wouldn't allow you to trade at all because liquidity dried up, guess who still allowed you to get out of your positions? That's right -- Oanda.

Sure, the spread went up to 5000, but a person has to be happy to be able to get out. It could have (and was) worse for some...
Mr. Trend
  • #8
  • May 3, 2006 12:54am May 3, 2006 12:54am
Mr T.

Do either of the ECNs have chart pkgs related ?

Lou
  • #9
  • May 3, 2006 12:58am May 3, 2006 12:58am
Quoting Lou
Mr T.

Do either of the ECNs have chart pkgs related ?

Lou
IB's is rather rudimentary from what I recall, however, it's getting MUCH better.

However, if you are looking for a great chart package for the price, check out Medved's Quotetracker.

Medved posts at Elitetrader, offers A+ support, and has a huge following. I was using his product before I switched to Tradestation...

I don't know about hotspot.
Mr. Trend
  • #10
  • May 3, 2006 6:39am May 3, 2006 6:39am
Quoting Lou
I think I am going with Oanda ... have been with CMS VT will continue . Like their chart pkg. But would be willing to give that up for a pkg that I could play around with that projects time into the future for fib time studies and even just placing markers and info. Cms does let you go into the future but does not show dates so you dont really know where you are. Oanda chart pkg is primitive but I like the ability to trade fractions of the dollar.

Lou
Yeah it's good that you can trade whatever amount you want, they don't have those concepts of lot, mini-lot.
I've been using them for a half a year, they have some negative parts, as everybody:
- the spread... everybody knows
- the time, they use NY i think and so the charts look different from the others
- the charts package, but don't forget it's a web-based platform, and it has it's limitations, so i think it's a good platform compared to forex.com
- lack of trailing stop, that sucks, but i like the way they plot the entering potition, the SL and TP, it's so clear for me.
Try hard, think fast, die young
  • #11
  • May 3, 2006 6:43am May 3, 2006 6:43am
Quoting Lou
Mr T.

Do either of the ECNs have chart pkgs related ?

Lou
Here's something you may be interested in, Lou:

http://www.esignal.com/map/oanda/default.asp
Capital Preservation is key to long term wealth accumulation
  • #12
  • May 3, 2006 6:56am May 3, 2006 6:56am
Quoting adam3000
but it is the only choice in my country ! hic....hic....
where do you live?
kiss the trend
  • #13
  • May 3, 2006 9:57am May 3, 2006 9:57am
Lou
If I'm not mistaken GFT offers a charting package directly linked to tha platform.
FXCM grew too large too fast and in doing so lost conrtol of their back office.
Gain Capiatl is catching up but to date still doesnt offer the onscreen sdvantages that GFT has.
Traders Helping Traders Audrey
  • #14
  • May 3, 2006 10:09am May 3, 2006 10:09am
Quoting fx-trader777
where do you live?
I live in Viet Nam , one small country in Southest Asia (nrear Thai Land ,Cambodia , Laos ,...)

FXCM is the only firm accept funding account via credit card directly (without any gateway like Paypal , Western Union ,...)

Are there any Broker have the same way to fund account like FXCM ?

Can you introduce some to me ?

Thanks

---adam---
  • #15
  • May 3, 2006 10:20am May 3, 2006 10:20am
FXSol accepts both credit cards and paypal...



Quoting adam3000
I live in Viet Nam , one small country in Southest Asia (nrear Thai Land ,Cambodia , Laos ,...)

FXCM is the only firm accept funding account via credit card directly (without any gateway like Paypal , Western Union ,...)

Are there any Broker have the same way to fund account like FXCM ?

Can you introduce some to me ?

Thanks

---adam---
  • #16
  • May 3, 2006 10:30am May 3, 2006 10:30am
I mean broker that support credit card without gateway like paypal

because paypal also does not support my country (vietnam )

hic...hic...
  • #17
  • May 3, 2006 10:46am May 3, 2006 10:46am
Quoting smjones
FXSol accepts both credit cards and paypal...
So does GFX. Their spreads are ok and you can also trade gold/silver/oil.
I wonder if there is any FF member, who uses this broker? I'd like to get some more first hand info, before I go with them. Mark

http://www.gfxsa.com/funding.htm
http://www.gfxsa.com/spreads.htm
  • #18
  • May 3, 2006 8:18pm May 3, 2006 8:18pm
[quote=audrey1]Lou
If I'm not mistaken GFT offers a charting package directly linked to tha platform.
QUOTE]

Thanks Audrey,

I tried GFT on two or three separate occasions. Some people like it, but for me it is one of the most confusing, least intuitive and accident prone set ups out there. I really gave it a try because I liked the DiNapoli indicators so much. As it turned out, that was the only thing I liked. Pretty much hated the rest.

Lou
  • #19
  • May 3, 2006 11:33pm May 3, 2006 11:33pm
Quoting adam3000
I live in Viet Nam , one small country in Southest Asia (nrear Thai Land ,Cambodia , Laos ,...)

FXCM is the only firm accept funding account via credit card directly (without any gateway like Paypal , Western Union ,...)

Are there any Broker have the same way to fund account like FXCM ?

Can you introduce some to me ?

Thanks

---adam---
well adam, I've been using Oanda now after transferring from FXCM after facing problems described by the fellow members above...
And Oanda has quite a few payment acceptance method as well. why dun you check them out?
  • #20
  • May 4, 2006 1:07am May 4, 2006 1:07am
when i click on deposit via credid card button , it forward me to Paypal gateway like this :
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