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FXCM Discussion

  • #3,181
  • Nov 6, 2012 5:08am Nov 6, 2012 5:08am
This may be an obvious question for some members, but I would appreciate the clarification, if possible:

Gold on FXCM is currently 1690.40/90, whereas on Capital Spreads it is 1689.20/60. I appreciate FXCM is direct to market, whereas CapSprds is spreadbetting, but surely the prices on both systems should be a lot closer than that, as FXCM is not a 'contract' price.

Any clarification would be greatly appreciated, as I do not want to make a silly schoolboy error in my trading.

Thanks in advance for any advice

mattockman
  • #3,182
  • Nov 6, 2012 11:26am Nov 6, 2012 11:26am
Any reason why EU's spreads gone upto 2.4 - 2.6 area recently ??

It's more than GU these days.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #3,183
  • Nov 6, 2012 12:05pm Nov 6, 2012 12:05pm
Quoting Turveyd
Any reason why EU's spreads gone upto 2.4 - 2.6 area recently ??

It's more than GU these days.
Hi Turveyd,

As I'm watching right now live on our new lower spreads, there is a 1.5 pip spread for EUR/USD and a 1.1 pip spread for GBP/USD. That translates to spreads of 2.5 and 2.1 for the Euro and Pound respectively on NDD. And you're right, the Euro spread is usually tighter than for the Pound. As you know, we're simply passing on the best prices we receive from our liquidity providers plus a pip markup. I suspect that the US Elections today are leading to greater uncertainty in the markets which is causing greater fluctuations in the spreads.

Jason
  • #3,184
  • Nov 6, 2012 12:15pm Nov 6, 2012 12:15pm
Quoting mattockman
This may be an obvious question for some members, but I would appreciate the clarification, if possible:

Gold on FXCM is currently 1690.40/90, whereas on Capital Spreads it is 1689.20/60. I appreciate FXCM is direct to market, whereas CapSprds is spreadbetting, but surely the prices on both systems should be a lot closer than that, as FXCM is not a 'contract' price.

Any clarification would be greatly appreciated, as I do not want to make a silly schoolboy error in my trading.

Thanks in advance for any advice

mattockman
Hi Mattockman,

FXCM's Gold contract (XAU/USD) shows the spot gold price. By any chance when you were looking at that other site, were you looking at a Gold futures contract price instead of a Gold spot price that rolls daily? If so, keep in mind that spot and futures prices differ, because the former rolls interest/finance charges daily, while the latter factors the interest/finance into the futures contract price.

Jason
  • #3,185
  • Nov 6, 2012 1:36pm Nov 6, 2012 1:36pm
Quoting Jason Rogers
Hi Turveyd,

As I'm watching right now live on our new lower spreads, there is a 1.5 pip spread for EUR/USD and a 1.1 pip spread for GBP/USD. That translates to spreads of 2.5 and 2.1 for the Euro and Pound respectively on NDD. And you're right, the Euro spread is usually tighter than for the Pound. As you know, we're simply passing on the best prices we receive from our liquidity providers plus a pip markup. I suspect that the US Elections today are leading to greater uncertainty in the markets which is causing greater fluctuations in the spreads.

Jason...

It was like it 2 weeks or so ago aswell buy we shall see after the elections I guess, doesn't seem to be more volatile so ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #3,186
  • Nov 6, 2012 2:14pm Nov 6, 2012 2:14pm
Quoting Jason Rogers
Hi Mattockman,

FXCM's Gold contract (XAU/USD) shows the spot gold price. By any chance when you were looking at that other site, were you looking at a Gold futures contract price instead of a Gold spot price that rolls daily? If so, keep in mind that spot and futures prices differ, because the former rolls interest/finance charges daily, while the latter factors the interest/finance into the futures contract price.

Jason
Hi Jason,

I am looking at 'Gold rolling Daily' on the other site. Just curious as to why one would be different from the other when both seem to be 'spot' rather than a futures contract price.

Thanks

mattockman
  • #3,187
  • Nov 6, 2012 3:37pm Nov 6, 2012 3:37pm
Quoting mattockman
Hi Jason,

I am looking at 'Gold rolling Daily' on the other site. Just curious as to why one would be different from the other when both seem to be 'spot' rather than a futures contract price.

Thanks

mattockman
Hi Mattockman

Our prices are based on what we get from our liquidity providers. I couldn't say why theirs are different. If the difference still exists, it seems like a good arbitrage opportunity!

Jason
  • #3,188
  • Nov 9, 2012 3:17pm Nov 9, 2012 3:17pm

Hello I'm from morocco ,
Can i open an account with 500$ ?

  • #3,189
  • Nov 12, 2012 8:29am Nov 12, 2012 8:29am
Quoting Ucef

Hello I'm from morocco ,
Can i open an account with 500$ ?

Hi Ucef,

Welcome to the forum

Yes, since you're from Morocco, you can open an account with FXCM MENA

Jason
  • #3,190
  • Nov 20, 2012 12:10am Nov 20, 2012 12:10am
Hi All,
Any live account holders received this and any comments:
IMPORTANT FXCM NOTICE: Change in Margin Requirements for Hedged Positions


Dear Client,
Important Changes to Hedged Positions at FXCM.
Starting on Sunday, 02 December 2012, FXCM will be introducing a minimum margin requirement to hold hedged positions to help traders manage their risk by requiring them to put aside margin for one side of the trade. FXCM feels that this will inhibit traders from opening positions that are too large for their account size. If you currently have hedged positions, FXCM will require margin for one side of the hedged position (or 50% margin).
What does this mean for your account?

 

  1. Possible Margin Call: If any of your current hedge positions do not have enough usable margin by Sunday, 02 December 2012, your account will receive a margin call at which point some or all of your positions* may be liquidated at the current market price.
  2. Avoiding a Margin Call: To do so, you will need to have enough usable margin in your account to maintain your hedged positions. Learn MoreHow much additional margin will be required?
    The margin required will be calculated using one side of a hedged position (the larger side) or 50% margin, For example, assume that $100 in margin is required to hold 10K of EUR/USD. Previously $0 would have been required to hold the hedged position, however from Sunday, 02 December 2012, $100 will be required

  • #3,191
  • Nov 20, 2012 8:58am Nov 20, 2012 8:58am
Quoting ngson99
Hi All,
Any live account holders received this and any comments:
IMPORTANT FXCM NOTICE: Change in Margin Requirements for Hedged Positions
Hi ngson,

I am also available to help if you have questions about the notice.

To add more light to the upcoming change.... In the current setup if a trader closes one side of the hedge, you go from no margin requirement to needing margin for the remaining open side of the position. If a trader's account equity is very low, the now necessary margin for the remaining position could send the account into a margin call. Requiring margin for one side of the position ensures you will have the needed margin when closing one side of the hedge for the other side to remain open if you choose to keep it open.

Jason
  • #3,192
  • Edited 9:49am Nov 20, 2012 9:27am | Edited 9:49am
This Thursday is the Thanksgiving Holiday in the US which will impact the rollover schedule and trading hours for certain CFD products. So please take note:

1. Rollover: The JPY pairs will have 5X rollover and all other pairs will have 4X rollover today as a result of the holiday. There will be 0 rollover for all pairs tomorrow. The monthly rollover calendar can be found on DailyFX here http://www.dailyfx.com/frollover

2. Forex Trading: There are no changes to forex trading hours. Trading will continue through Friday as normal and close on Friday at the normal time of approximately 4:55pm ET. Please be aware that liquidity will likely be lower than normal which could impact spreads.

3. CFD Trading: The times listed below show the change to CFD trading instruments in US Eastern Time (GMT -5 hours). (CFD trading is not available to residents of the United States)

http://img577.imageshack.us/img577/4...1120101824.png



Let me know if you have any questions.

Jason
  • #3,193
  • Nov 21, 2012 1:20pm Nov 21, 2012 1:20pm
I will be out of the office Thursday and Friday, so any questions will be answered when I return. Wishing everyone a Happy Thanksgiving!

One notification in addition to the below, there is no rollover for any currency pairs today. Today's rollover was taken into account yesterday.


Quoting Jason Rogers
This Thursday is the Thanksgiving Holiday in the US which will impact the rollover schedule and trading hours for certain CFD products. So please take note:

2. Forex Trading: There are no changes to forex trading hours. Trading will continue through Friday as normal and close on Friday at the normal time of approximately 4:55pm ET. Please be aware that liquidity will likely be lower than normal which could impact spreads.

3. CFD Trading: The times listed below show the change to CFD trading instruments in US Eastern Time...
  • #3,194
  • Edited 5:53pm Nov 28, 2012 5:43pm | Edited 5:53pm
Just a heads up for those of you using the Trading Station Mobile app for your smartphone or tablet: We recently released an update for the platform. If your mobile device is not set to automatically update apps, you will have to go to the App Store to get the latest version (1.5.110712).

http://img705.imageshack.us/img705/9...1128171151.png


New features include the ability to draw trend lines and fibs, and switch the display from bid to ask.

http://img255.imageshack.us/img255/4...1128172244.png


You can also view a table of historical highs and lows for each currency pair.

http://img823.imageshack.us/img823/4...1128174907.png

  • #3,195
  • Nov 30, 2012 2:13am Nov 30, 2012 2:13am
Why doesnt FXCM fix their software before they put it out to their market? IT CONSTANTLY HAS BUGS! I just lost a ton of data due to their shitty software and subpar programming. FXCM desperately needs to get their house in order on all fronts: this goes from software to pricing to client service. Why does it seem that FXCM is always being investigated by some financial authority? They are currently being investigated by the FSA in the UK, this is just a year after they had to pay $14.2mm to settle a suit with the CTFC and NFA on the US. This broker has really went downhill. My advice to ALL clients is to do what I'm doing: RUN!
  • #3,196
  • Nov 30, 2012 9:24am Nov 30, 2012 9:24am
Quoting mfoste1
Why doesnt FXCM fix their software before they put it out to their market? IT CONSTANTLY HAS BUGS! I just lost a ton of data due to their shitty software and subpar programming. FXCM desperately needs to get their house in order on all fronts: this goes from software to pricing to client service. Why does it seem that FXCM is always being investigated by some financial authority? They are currently being investigated by the FSA in the UK, this is just a year after they had to pay $14.2mm to settle a suit with the CTFC and NFA on the US. This broker...
I trade with them from time to time i had minor issues but in general they are good ...
  • #3,197
  • Nov 30, 2012 12:25pm Nov 30, 2012 12:25pm
Quoting mfoste1
Why doesnt FXCM fix their software before they put it out to their market? IT CONSTANTLY HAS BUGS! I just lost a ton of data due to their shitty software and subpar programming.
Hi Mfoste1,

I'm sorry to hear you've been having problems with one of our platforms. Which platform was it exactly?

We take your comments very seriously, as we are always striving to improve our various trading platforms. In fact, it's feedback from clients such as yourself that helped our flagship Trading Station platform win the award for the Best Proprietary FX Platform at the Forex Magnates Summit in London this month: http://summit.forexmagnates.com/en/awards/

Please tell me more about the exact nature of the tech issue you encountered, so I can look into it for you.

Jason
  • #3,198
  • Edited 4:10pm Dec 3, 2012 3:55pm | Edited 4:10pm
Response to inquiries from GFT clients

Since GFT's announcement yesterday stating that they are pulling out of the US retail forex market, FXCM has received several inquiries from GFT clients. Below I wanted to address some of the most frequently asked questions.


Does FXCM still offer retail forex trading to US clients?
Yes, we have no intention of leaving the US retail market. In fact, we see this as an opportunity to get new business as smaller firms leave the US. FXCM has continued to grow in the US in terms of accounts and deposits, even as other firms have contracted, as you can see from the most recent quarterly reports from the CFTC.


Why did GFT pull out of the US market?
We can't speak for another company, but their announcement said it was a business decision. What we do know is that US forex regulations are some of the strictest in the world. A minimum of $20 million in capital is required just to be able to accept clients, and then additional capital is needed for open positions and customer assets. In this environment of lower volatility and lower interest rates many forex brokers are struggling to make money, and many have had to make drastic cuts.

That is why we feel FXCM's full transparency on its financials, and push for all firms to be more transparent as well is something that should be more important than ever to clients. Additionally, as one of the few publicly-traded forex brokers (NYSE: FXCM) our regularly published financial reports give our clients confidence in who they are doing business with that is not possible with a privately held broker.


I'm a US client of GFT. What changes can I expect if I switch to FXCM?
Clients on GFT's Dealbook platform will be happy to know that FXCM's flagship Trading Station platform supports many of the popular functions you are accustomed to including trading from charts. In addition, the FXCM Trading Station has functionality to support custom indicators and trade automation. These are among the reasons why the FXCM Trading Station was awarded Best Proprietary FX Platform at the Forex Magnates summit last month. Click here to for a free demo.

FXCM also offers popular 3rd party trading platforms such as MT4 and NinjaTrader. And all FXCM clients get free access to real-time trading signals and alerts from our DailyFX research team.
  • #3,199
  • Dec 4, 2012 4:32pm Dec 4, 2012 4:32pm
hi i was wondering what the difference in execution is between dd and ndd i like the spreads on dd but dont want bad execution as im a break out trader

WENDIGO
  • #3,200
  • Dec 4, 2012 7:05pm Dec 4, 2012 7:05pm
Quoting Jason Rogers
Hi Mfoste1,

I'm sorry to hear you've been having problems with one of our platforms. Which platform was it exactly?

We take your comments very seriously, as we are always striving to improve our various trading platforms. In fact, it's feedback from clients such as yourself that helped our flagship Trading Station platform win the award for the Best Proprietary FX Platform at the Forex Magnates Summit in London this month: http://summit.forexmagnates.com/en/awards/

Please tell me more about the exact nature of the tech issue you encountered,...
It is your "flagship" trading station that is giving clients issues. I'm real and I'm going to be completely honest with you and I don't care because this is your job and you have to deal with it, otherwise go work for a reputable company with ethical practices and sound technology. FXCMs software is a fucking disgrace. FXCM does NOT invest enough in technology to keep the company ahead of their competitors. The problem from this stems from upper management in the company being so incredible obtuse, inept and disconnected from reality the company is going downhill, rapidly. I have seen this FIRSTHAND at a physical office location. You keep feeding the retail FX community this bullshit on how great FXCM is, YOU WILL RECEIVE THE SAME IN RETURN, DEAL WITH IT! You don't like it? This is the profession you have chosen, deal with it! I've had to deal with the same issues with FXCM software bugs for 3 years that NEVER GET RESOLVED. YOUR PROGRAMMERS FUCKING SUCK! WHY DOESN'T FXCM INVEST AND HIRE SOME QUALITY TALENT?! FXCM pay is well below industry standards, therefore they attract completely incompetent employees that should not be working in this industry. This company is being run into the ground by upper management who ONLY CARE ABOUT FXCMs SHARE PRICE! FXCM IS GOING TO FAIL UNLESS THEY GET THEIR SHIT TOGETHER!
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