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FXOpen AU Discussion

  • #41
  • Jan 31, 2013 5:45pm Jan 31, 2013 5:45pm
Quoting M.A.C.Doug
Unbelievable! So long as it does'nt delay execution. This will make you without doubt the best broker I have ever seen. By best, I mean the one which provides the best odds for profitability for its clients. The fx trading world will be your oyster.
Many aussie brokers have one click trading apps and depth of market tools. If anything, FXOpen is late to the game.
  • #42
  • Jan 31, 2013 5:47pm Jan 31, 2013 5:47pm
Quoting FXOjafar
This is just to show you how it looks. It's not from the running version.


I don't HAVE the beta. I have only seen it. I hope you take back your vapourware claim after release which is imminent


It will not delay execution at all. I'm looking forward to the final release too!
was just poking a little fun at you since the depth of market in your pick was quoting ~70, but the buy/sell inside quote was ~20
  • #43
  • Jan 31, 2013 6:15pm Jan 31, 2013 6:15pm
Quoting TradeMonk
Many aussie brokers have one click trading apps and depth of market tools. If anything, FXOpen is late to the game.
That may be true, but we win in other ways such as commissions, spread and execution.

Quoting TradeMonk
was just poking a little fun at you since the depth of market in your pick was quoting ~70, but the buy/sell inside quote was ~20
I'm sure you will like the finished product. Stay tuned.
  • #44
  • Jan 31, 2013 6:26pm Jan 31, 2013 6:26pm
Quoting FXOjafar
That may be true, but we win in other ways such as commissions, spread and execution.



I'm sure you will like the finished product. Stay tuned.
The old joke:

2+2 = ?
-4, says AMD
-5, says Intel
-you are wrong!
- but I am fast

Good luck!
I want to buy PATIENCE
  • #45
  • Jan 31, 2013 6:47pm Jan 31, 2013 6:47pm
Quoting matheszabi
The old joke:

2+2 = ?
-4, says AMD
-5, says Intel
-you are wrong!
- but I am fast

Good luck!
2+2 = 2000 @ 1:500 leverage
  • #46
  • Jan 31, 2013 10:52pm Jan 31, 2013 10:52pm
Quoting mmaker
Is that "vapourware" picture really necessary? People are trying to scrutinize and find out more about this broker, so cut the crap.

Go back to your posts/replies and edit to remove that picture.
Trademonk asked for a screenshot and I supplied one.

I think we will just wait until release when you can formulate an opinion based on actually trying it out. We would value your input then.
  • #47
  • Edited 11:41pm Jan 31, 2013 11:11pm | Edited 11:41pm
I meant that you guys remove that picture ("This looks shopped") that Trademonk posted accusing the vapourware. It doesn't help anyone except for Trademonk's own pursuit of shill hunting. Rather distracting to people who want to find out more about this broker.

Please contribute feedback about spreads, difficulty in withdrawing funds, platform downtime, disconnections, inaccurate quotes, phantom spikes, stop hunting, spread widening, no fills, partial fills, delayed execution, stop orders not executed, invalid entry orders, hedging issues, regulatory investigations, discrepancies in equity balance, etc. Basically any broker "tricks" to kill small accounts.

Jafar (as thread starter) can always put you on Ignore List and prevent you from further posting so how much shill attack can you do? Let's move on.
No longer trading forex. Looking for full time job.
  • #48
  • Edited 11:54am Feb 1, 2013 12:02am | Edited 11:54am
Quoting mmaker
I meant that you guys remove that picture ("This looks shopped") that Trademonk posted accusing the vapourware. It doesn't help anyone except for Trademonk's own pursuit of shill hunting. Rather distracting to people who want to find out more about this broker.

Please contribute feedback about spreads, difficulty in withdrawing funds, platform downtime, disconnections, inaccurate quotes, phantom spikes, stop hunting, spread widening, no fills, partial fills, delayed execution, stop orders not executed, invalid entry orders, hedging issues,...
it was a joke dude, an image of people pointing at an old computer with a common internet meme tag line

i wouldn't post an image like that (net meme) if I actually had a problem

~~

you want broker specific stuff that isn't joking around?

I dislike how Jafar embraces FXOpen's brand (NZ) when it suits him, and then screams out that FXOpen AUS is a separate company when it doesn't ~~ not cool bro
  • #49
  • Feb 1, 2013 1:00am Feb 1, 2013 1:00am
Quoting TradeMonk
Many aussie brokers have one click trading apps and depth of market tools. If anything, FXOpen is late to the game.
They don't have $4.88 commission per round turn or the spread is to wide or the platform cancels opposing positions instead of hedging. I have tried I.C markets one click and the order hangs for about 2 or 3 secs so it is virtually useless. Go markets uses myfx but the spread is not competitive. Pepperstone and Vantagefx commision is $7 per round turn. CMC and IG are market makers anyway. The closest I have come to the ideal broker is MBT but they are US based and have fifo and no hedging and only 50:1 leverage and they don have AUD accounts. Tell me one Aussie broker, or international, that has everything like these guys do?
BTC Return This Year: na
  • #50
  • Edited 3:36am Feb 1, 2013 1:23am | Edited 3:36am
Quoting M.A.C.Doug
I have tried I.C markets one click and the order hangs for about 2 or 3 secs so it is virtually useless.
I use Luktom script EA to set one stop order and 3 or 4 exit points (partial lots). I agree the MT4 order box is lousy.
http://en.luktom.biz/Page/447/luktom...l-order-editor

I tried some trading on Demo and found that the commission was based on the VIP ECN account of 3.6 units per round turn. For my intended funding of US$2000, that would come under Standard ECN account with 5 units of base currency per round turn. Still cheaper than IC Markets or FXOpen NZ. I would throw some more trades on all cross pairs and then study the commission costs on TradeExplorer and Myfxbook.
http://www.fxopenaus.com/ECNCommissionCalculation.aspx
Attached Image (click to enlarge)
Click to Enlarge Name: demo commissions.png Size: 25 KB
No longer trading forex. Looking for full time job.
  • #51
  • Feb 2, 2013 6:39pm Feb 2, 2013 6:39pm
Quoting mmaker
I use Luktom script EA to set one stop order and 3 or 4 exit points (partial lots). I agree the MT4 order box is lousy.
http://en.luktom.biz/Page/447/luktom...l-order-editor
Looks excellent and the drag and drop order lines is a big plus as I am used to doing this on the Oanda platform. I have tried another version but it would not place the oco orders any closer than 10 pips. With ecn we should be able to get as close as we like. including inside the spread. Do you know if this ea has any limitations on the distance to stop and tp?

Quoting mmaker
I did some trading on Demo and found that the commission was based on the VIP ECN account of 3.6 units per round turn. For my intended funding of US$2000, that would come under Standard ECN account with 5 units of base currency per round turn. Still cheaper than IC Markets or FXOpen NZ. I would throw some more trades on all cross pairs and then study the commission costs on TradeExplorer and Myfxbook.
http://www.fxopenaus.com/ECNCommissionCalculation.aspx
I will be standard also and I am more than happy with that commision, its the cheapest I have seen. Axitrader was calling me every week trying to sell me their services. They sounded great except for commision. I asked them to give me 6 units per round turn and they could have my business. I never heard from them again
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  • #52
  • Edited Feb 3, 2013 1:13am Feb 2, 2013 11:00pm | Edited Feb 3, 2013 1:13am
Quoting M.A.C.Doug
Looks excellent and the drag and drop order lines is a big plus as I am used to doing this on the Oanda platform. I have tried another version but it would not place the oco orders any closer than 10 pips. With ecn we should be able to get as close as we like. including inside the spread. Do you know if this ea has any limitations on the distance to stop and tp?
See picture attached. With this broker's tight spreads, the Luktom EA was able to execute 8pips auto stop on AUD/JPY and GBP/JPY with little slippage. This is only Demo but I'm not too worried about difference with Live server, because on some brokers those two Yen pairs typically had 5-7pips spread and the EA won't work reliably unless I opened up to 16pips stop loss to avoid "invalid stop orders". In the picture, the EUR/JPY auto stop was slipped to -9.6pips from the preset 8pips but that's not a big problem. Still within the 10pips limitation yourself experienced with other brokers. One immediate advantage for me is I can now set 8pips auto stop on all the pairs I traded, instead of customizing (and share sizing) the Luktom EA for each pair due to the varying spreads and limitations.

Other ECN brokers charging higher commissions are actually giving "discounts" of 1 to 1.5 units if you signed up with their IBs or affiliated MAM/PAMM service providers. You should avoid paying the default (over-priced) round turn commissions with them. For now I'm sticking to evaluating FXOpen AU at this acceptable commission rate, unless Jafar can tell us if they also have discount programs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: testing.png Size: 39 KB
Click to Enlarge Name: demo commissions.png Size: 30 KB
No longer trading forex. Looking for full time job.
  • #53
  • Feb 3, 2013 10:38pm Feb 3, 2013 10:38pm
Quoting mmaker
Other ECN brokers charging higher commissions are actually giving "discounts" of 1 to 1.5 units if you signed up with their IBs or affiliated MAM/PAMM service providers. You should avoid paying the default (over-priced) round turn commissions with them. For now I'm sticking to evaluating FXOpen AU at this acceptable commission rate, unless Jafar can tell us if they also have discount programs.
We do have some niche IBs but I can't recommend any without taking into account your personal financial needs. If you would like to become a regular IB with us, and have the relevant license we would be happy to take you on board.

Anyway, there is no need for rebates with us. Our commission structure means that you are already paying less commission than many other alternatives. Our spread is very low with absolutely no mark up which means your cost of trading is quite small.
  • #54
  • Feb 4, 2013 3:23am Feb 4, 2013 3:23am
Quoting M.A.C.Doug
I will be standard also and I am more than happy with that commision, its the cheapest I have seen.
I'm quite happy with the Demo evaluation so far and will go live this week after funding. The 8pips auto stop using Luktom script/EA is executed properly, with acceptable delay/slippage. Let me know what problems you find in this broker.
Attached Image (click to enlarge)
Click to Enlarge Name: testing demo.png Size: 46 KB
No longer trading forex. Looking for full time job.
  • #55
  • Feb 5, 2013 2:40pm Feb 5, 2013 2:40pm
Quoting FXOjafar
I'm happy that you will decide to try us with an ECN micro account.

Of course I know about fxopen.com and I didn't say I don't know about them. I meant that I cannot speak for them because I don't work for that company
Hello Jafar:

I quoted some affirmations you made on Jan 11th.

Today I had an online chat with some FXOpen AU rep, Moro, that I am transcribing:

4:45 PM Moro
Welcome to Fxopen Live Chat,How may I help you?

4:47 PM
I am a Manager of several accounts and I wnat to know if you have the capability of receiving my business

4:53 PM Moro
you can contacting with us by e-mail from this link http://www.fxopen.com/ContactUs.aspx

4:54 PM
sorry, this is fxopen australia?

4:54 PM Moro
Can I help you with anything els,sir?

4:54 PM
Because I came here through the fxopenaus.com link

4:56 PM Moro
hold on ,sir

4:59 PM Moro
http://www.fxopenaus.com/ContactUs.aspx

5:09 PM Moro
or you can send email to [email protected] with what you need please and we will get back to you.


So my question is, from the chat I had, are FXOpen.com and FXOpenaus.com the same company? They seem to be...

Waiting for your answer.

g
  • #56
  • Feb 5, 2013 3:30pm Feb 5, 2013 3:30pm
Quoting guibernaua
Hello Jafar:

I quoted some affirmations you made on Jan 11th.

Today I had an online chat with some FXOpen AU rep, Moro, that I am transcribing:

4:45 PM Moro
Welcome to Fxopen Live Chat,How may I help you?

4:47 PM
I am a Manager of several accounts and I wnat to know if you have the capability of receiving my business

4:53 PM Moro
you can contacting with us by e-mail from this link http://www.fxopen.com/ContactUs.aspx

4:54 PM
sorry, this is fxopen australia?

4:54 PM Moro
Can I help you with anything...
Hi

She was correct in referring you to us. We do outsource live chat out of office hours and for anything but general queries they are instructed to refer you to us.
  • #57
  • Feb 7, 2013 2:34am Feb 7, 2013 2:34am
- Wasn't FxOpen once licensed or registered in Mauritius?

- If you have an existing account and FXO eWallet number, if FXO Au is separate entity, do we have to get an extra FXO eWallet number? Or do you use the existing FxO eWallet # and just open a new account under FxO?
- is there a way to verify which FxO jurisdiction the account is opened in?
- can you transfer funds across accounts in the same FxO eWallet, across jurisdictions?

- what is the minimum and maximum account balance to qualify for 1:500 leverage?
Measure trends automatically with zero lag
  • #58
  • Feb 7, 2013 2:49am Feb 7, 2013 2:49am
Quoting ybfjax
- Wasn't FxOpen once licensed or registered in Mauritius?
FXOpen NZ was registered there a few years ago but they moved to New Zealand which is much better in my opinion.

Quoting ybfjax
- If you have an existing account and FXO eWallet number, if FXO Au is separate entity, do we have to get an extra FXO eWallet number? Or do you use the existing FxO eWallet # and just open a new account under FxO?
If you want an account with FXOpen AU, you need to open a new account with us. FXOpen NZ and AU accounts are not interchangeable.

Quoting ybfjax
- is there a way to verify which FxO jurisdiction the account is opened in?
As long as your account is opened at fxopenaus.com (soon to be moved to http://www.fxopen.com.au since we got the URL from squatters recently) your account is in Australia.

Quoting ybfjax
- can you transfer funds across accounts in the same FxO eWallet, across jurisdictions?
We have an arrangement with FXOpen NZ to ease the process for those who wish to transfer over.

The process is as follows.

1) Open an account with FXOpen AU
2) Send email to [email protected] asking them to transfer your funds to Australia first making sure all of your funds are in your ewallet account. They will arrange for your funds to be wired to Australia. Please also give them your AU Ewallet number so they can inform us of how much to deposit and where so you don't need to wait for the funds to arrive in Australia before you resume trading.

You cannot transfer the other way (AU to NZ).


Quoting ybfjax
- what is the minimum and maximum account balance to qualify for 1:500 leverage?
$1000. Accounts under $1000 are restricted to 1:100 to avoid over leveraging and catastrophic loss.

You can have 1:500 up until $25,000 where you become a VIP account holder with lower commission and max leverage of 1:200 until $100k where it is 1:100 until $1m.
  • #59
  • Feb 7, 2013 6:19am Feb 7, 2013 6:19am
Quoting mmaker
Jafar,

On your account opening form, we have to choose between "Standard" or "ECN". However the "Standard" on the form referred to spread-based account, when it should be referring to the "Standard ECN". The second choice "ECN" on the form referred to the VIP ECN account, when it should just be referring to commission-based account.

The info on the "Standard" account does not match those on Trading Terms.
Where is that screen? I can't seem to get to it myself.
  • #60
  • Feb 7, 2013 6:32am Feb 7, 2013 6:32am
It's ok mmaker, thank you. I found it and reported to our IT. For now, you can open an account in the MyFXOpen cabinet https://cabinet.fxopenaus.com by going to Add New Account in the menu.
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