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  • #3,421
  • Mar 12, 2013 10:57am Mar 12, 2013 10:57am
Quoting notreally
Hi,
I have a demo MT4 account with FXCM but when I generate a report it is in GBP and I need it in USD.
The server is FXCM-GBPDemo01. If I try to login in with the USDDemo01 it just peeps, disconnects.
What am I doing wrong?
Thanks
J
Hi Notreally,

Your demo account is on the GBP demo server, so it will always show your Equity and P/L in GBP. In order to have a demo account that shows your Equity and P/L in USD, it must be set up on a USD demo server. Here's a link so you can register a USD demo.

I notice that your forum profile says you're here in the US, so I've given you the link for an FXCM US demo. That means in order to comply with US regulations, the max leverage on the demo account is 50:1, and you will only see forex on the demo, no oil, metals or stock indices.

Welcome to the forum

Jason
  • #3,422
  • Mar 12, 2013 11:11am Mar 12, 2013 11:11am
Quoting Sunlight31
Dear FXCM

I want to open a micro account and deposit money via debit card. Can I withdraw my deposit via debit card , or do I need to use bank account ?
Hi Sunlight,

Yes, you can deposit funds using your debit card and later make free withdrawals back to the same card.

We've actually eliminated the distinction between our micro and standard accounts. FXCM Micro began as a special product offering designed to let new forex traders trade in 1K lot sizes and start with a small balance of just $50. The offering became so popular that we've decided to lower contract sizes and minimum starting balances on FXCM standard accounts as well. Now that there is no major difference between "Micro" and "Standard" accounts, we are merging our websites. So technically, your new account will be an FXCM standard account, but you can open it with as little as $50 and trade microlots.

Let me know if you have any further questions regarding the setup of your new account.

Jason
  • #3,423
  • Mar 12, 2013 12:50pm Mar 12, 2013 12:50pm
Thanks Jason
  • #3,424
  • Mar 12, 2013 1:02pm Mar 12, 2013 1:02pm
Nice trading day. Thank you.
  • #3,425
  • Mar 12, 2013 1:09pm Mar 12, 2013 1:09pm
Quoting Jason Rogers
Hi Sunlight,

Yes, you can deposit funds using your debit card and later make free withdrawals back to the same card.

We've actually eliminated the distinction between our micro and standard accounts. FXCM Micro began as a special product offering designed to let new forex traders trade in 1K lot sizes and start with a small balance of just $50. The offering became so popular that we've decided to lower contract sizes and minimum starting balances on FXCM standard accounts as well. Now that there is no major difference between "Micro" and "Standard"...
One of the things that I've never understood is why anybody would actually want a standard account when you can better manage your position size with a mini lots, so this is a most welcome development.
  • #3,426
  • Mar 12, 2013 4:48pm Mar 12, 2013 4:48pm
Quoting Jason Rogers
Hi Sunlight,

Yes, you can deposit funds using your debit card and later make free withdrawals back to the same card.

We've actually eliminated the distinction between our micro and standard accounts. FXCM Micro began as a special product offering designed to let new forex traders trade in 1K lot sizes and start with a small balance of just $50. The offering became so popular that we've decided to lower contract sizes and minimum starting balances on FXCM standard accounts as well. Now that there is no major difference between "Micro" and "Standard"...

jason,

why did fxcm take away for new accounts to open uk account from canada?
it really sucks....
Wooooohooooo or Boooooohooooo
  • #3,427
  • Mar 13, 2013 11:45am Mar 13, 2013 11:45am
Quoting gnomoneey
jason,

why did fxcm take away for new accounts to open uk account from canada?
it really sucks....
Hi Gnomoneey,

Traders in Canada are able to open accounts through Friedberg (www.fxcm.ca) which is based in Toronto and regulated by the Investment Industry Regulatory Organization of Canada (IIROC). They also benefit from the Canadian Investor Protection Fund (www.cipf.ca) which provides protection for up to $1 million per client.

Jason
  • #3,428
  • Mar 13, 2013 12:24pm Mar 13, 2013 12:24pm
Quoting Jason Rogers
Hi Gnomoneey,

Traders in Canada are able to open accounts through Friedberg (www.fxcm.ca) which is based in Toronto and regulated by the Investment Industry Regulatory Organization of Canada (IIROC). They also benefit from the Canadian Investor Protection Fund (www.cipf.ca) which provides protection for up to $1 million per client.

Jason
but to bring the leverage down to north america standard of 30:1 leverage....which is way too low...
so the ability for canadians to open uk account is now permanently unavailable, yes?
Wooooohooooo or Boooooohooooo
  • #3,429
  • Mar 13, 2013 2:26pm Mar 13, 2013 2:26pm
Quoting gnomoneey
but to bring the leverage down to north america standard of 30:1 leverage....which is way too low...
so the ability for canadians to open uk account is now permanently unavailable, yes?
Regulations now require brokers to be regulated in Canada and thus comply with IIROC rules regarding leverage in order to accept clients in Canada. That is why FXCM UK can no longer accept clients from Canada while Friedberg (www.fxcm.ca) can.
  • #3,430
  • Mar 13, 2013 11:44pm Mar 13, 2013 11:44pm
Hi Jason,

I purchased the breakout2 strategy for Trade Station II today and I am unable to backtest the strategy using the strategy backtester as the backtesting returns no trades and the equity curve remains flat. There doesnt appear to be many setting where I could be missing something, the only pair that is selected as yes in the options is the pair that I am trying to backtest everything else is set to no. Any insight to what I am doing wrong?

Thanks,

Andrew.
  • #3,431
  • Edited 3:41am Mar 14, 2013 1:13am | Edited 3:41am
Hi Jason,

I have a couple of questions.

1. I am from India.If I deposit amount through Indian debit card can I withdraw amount in same debit card? or is there any limitation?

2.I have done my first deposit through credit card.I will again deposit my account but using my debit card.Now my question is if I withdraw some amount from my account can I use my debit card or do I only able to withdraw to my credit card(through which my first deposit was made)?

3. And how long its takes to amount to be credited to my account?

4. I am using demo account and testing the email notification feature.I configured the gmail account.Email are not coming to my gmail account. is demo account having this feature activated its only for live account?

5. If mail setting is done and I looged out from TS2 will still I get the mail notification? or I need to keep it on all the time.

Regards.
  • #3,432
  • Mar 14, 2013 3:11pm Mar 14, 2013 3:11pm
Quoting Andrew618
Hi Jason,

I purchased the breakout2 strategy for Trade Station II today and I am unable to backtest the strategy using the strategy backtester as the backtesting returns no trades and the equity curve remains flat. There doesnt appear to be many setting where I could be missing something, the only pair that is selected as yes in the options is the pair that I am trying to backtest everything else is set to no. Any insight to what I am doing wrong?

Thanks,

Andrew.
Hi Andrew,

The DailyFX signals use proprietary knowledge, so the trade logic which generates buy and sell orders is not made public. That means backtesting for them is disabled on the Trading Station platform. However, you can forward test these strategies using a demo account before trading them live. Also, the DailyFXplus.com website always shows the last 60 days performance for all the strategies as in the example below. Past performance is not necessarily indicative of future results.

http://img203.imageshack.us/img203/1...gsignalspe.png


Jason
  • #3,433
  • Mar 14, 2013 5:46pm Mar 14, 2013 5:46pm
Quoting bedayan
Hi Jason,

I have a couple of questions.

1. I am from India.If I deposit amount through Indian debit card can I withdraw amount in same debit card? or is there any limitation?

2.I have done my first deposit through credit card.I will again deposit my account but using my debit card.Now my question is if I withdraw some amount from my account can I use my debit card or do I only able to withdraw to my credit card(through which my first deposit was made)?

3. And how long its takes to amount to be credited to my account?

4. I am using...
Hi Bedayan,

When you deposit funds using your debit card, you will be able to withdraw the same amount back to that card. Suppose you deposit $2000 by credit card, and $3000 by debit card. In the future you would be able to withdraw $2000 back to your credit card, and $3000 back to your debit card. The funds you withdraw from your trading account will take anywhere from a couple of business days to appear back on your card to the next time you're sent a card statement . The exact time will depend on your card company.

In regards to setting alerts to be sent from Trading Station to your Gmail account, please use the steps I detailed in this post: http://www.forexfactory.com/showthre...63#post6502963

Trading Station has to be running in order for you to receive email alerts. If you don't want to have to keep the platform running on your computer 24 hours a day, you might want to consider using a Virtual Private Server (VPS).

Jason
  • #3,434
  • Mar 14, 2013 8:10pm Mar 14, 2013 8:10pm
Hi Jason,

Thank you for the reply, makes sense. I do have another question if you don't mind regarding accounts from Canada being held by Feildberg Direct, will this change have any impact on existing customers that already hold accounts or is this just for new accounts?

Thanks again,

Andrew.
  • #3,435
  • Edited 9:54pm Mar 14, 2013 9:43pm | Edited 9:54pm
Quoting Jason Rogers
Hi Andrew,

The DailyFX signals use proprietary knowledge, so the trade logic which generates buy and sell orders is not made public. That means backtesting for them is disabled on the Trading Station platform. However, you can forward test these strategies using a demo account before trading them live. Also, the DailyFXplus.com website always shows the last 60 days performance for all the strategies as in the example below. Past performance is not necessarily indicative of future results.

Jason
Jason,

I'm rarely critical of FXCM as I'm happy with the level of customer service, the actual brokerage service and the charting platform. But I was a little taken aback by this new development of selling "systems". Does FXCM not have any ethical qualms with selling these systems which have, to the best of my knowledge, not been objectively demonstrated to have any better long term expectancy than any other free EA offered on this forum? Furthermore, disabling backtesting and knowing that the vast majority of customers are going to put their faith in FXCM as an authority, meaning they will absolutely do no forward testing over any significant time period and plunk their money down in the search for the holy grail, is something I find to be dishonest. Saying that "past performance is not necessarily indicative of future results" is all well and good legally but I personally find the offering to be somewhat predatory in nature. Just my two cents.

Kanzler
  • #3,436
  • Mar 15, 2013 12:44am Mar 15, 2013 12:44am
Quoting Jason Rogers
When you deposit funds using your debit card, you will be able to withdraw the same amount back to that card. Suppose you deposit $2000 by credit card, and $3000 by debit card. In the future you would be able to withdraw $2000 back to your credit card, and $3000 back to your debit card.
Jason. Your reply here is interesting. Should we conclude that it is not permitted to make a profit trading with FXCM, or just that this happens so rarely that it wouldn't occur to you that a customer might need to withdraw more funds than they had deposited?
PK
  • #3,437
  • Edited 10:36am Mar 15, 2013 10:08am | Edited 10:36am
Quoting Plofkip
Jason. Your reply here is interesting. Should we conclude that it is not permitted to make a profit trading with FXCM, or just that this happens so rarely that it wouldn't occur to you that a customer might need to withdraw more funds than they had deposited?
PK
Hi Plofkip,

Welcome to the forum

The process of sending funds back to a credit or debit card works like refunding a purchase that was made using the card. That means we can only send back to a card an amount that is equal to or less than the amount that was originally deposited from that card. Withdrawal of additional amounts can be made via check, bank wire and online transfer. These options are all available on our MyFXCM.com website for clients.

Keep in mind that in our No Dealing Desk forex execution model, we make our money off of client trading volume, not client losses. Therefore we want our clients to be profitable, so that they will continue to trade with us for years to come. For that reason, our trading instructors at DailyFX.com have conducted several studies on client profitability in order to help our clients better understand the factors that can be keys to success.

The bar graph below is from these DailyFX profitability studies.

http://media.dailyfx.com/illustratio..._Picture_3.png


Jason
  • #3,438
  • Mar 15, 2013 10:19am Mar 15, 2013 10:19am
Jason

Thanks for the clarification.
I felt sure that there must be some good explanation.

:-)

PK
  • #3,439
  • Mar 18, 2013 6:15am Mar 18, 2013 6:15am
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Here's an example of my spreads widening. GBP/JPY has been like this for some time now.....

EUR/USD 1.29497 1.29513 1.6 1.29772 1.28813 0.03 -0.16 0.12 5.00 07:10:46
EUR/JPY 122.997 123.016 1.9 124.612 121.632 0.02 -0.08 0.13 5.00 07:10:40
USD/JPY 94.975 94.988 1.3 95.151 94.036 -0.06 0.00 0.13 5.00 07:10:37
GBP/JPY 143.629 143.751 12.2 144.062 142.289 -0.52 0.22 0.13 5.00 07:10:35
GBP/USD 1.51283 1.51301 1.8 1.51446 1.50718 -0.15 0.07 0.12 5.00 07:10:35
AUD/USD 1.03778 1.03793 1.5 1.03854 1.03362 -1.24 0.59 0.12 5.00 07:10:33
NZD/USD 0.82305 0.82324 1.9 0.82539 0.82139 -0.97 0.44 0.12 5.00 07:10:36
XAU/USD 1,602.33 1,602.83 50.0 1,609.09 1,590.95 0.00 -0.0355 0.01 5.00 07:10:42
USDOLLAR 10,476 10,478 2.0 10,501 10,465 0.1460 -0.3163 1.21 82.50 07:10:07
  • #3,440
  • Mar 18, 2013 6:40am Mar 18, 2013 6:40am
Quoting Jamz
Here's an example of my spreads widening. GBP/JPY has been like this for some time now.....

EUR/USD 1.29497 1.29513 1.6 1.29772 1.28813 0.03 -0.16 0.12 5.00 07:10:46
EUR/JPY 122.997 123.016 1.9 124.612 121.632 0.02 -0.08 0.13 5.00 07:10:40
USD/JPY 94.975 94.988 1.3 95.151 94.036 -0.06 0.00 0.13 5.00 07:10:37
GBP/JPY 143.629 143.751 12.2 144.062 142.289 -0.52 0.22 0.13 5.00 07:10:35
GBP/USD 1.51283 1.51301 1.8 1.51446 1.50718 -0.15 0.07 0.12 5.00 07:10:35
AUD/USD 1.03778 1.03793 1.5 1.03854 1.03362 -1.24 0.59 0.12 5.00 07:10:33
NZD/USD 0.82305 0.82324 1.9 0.82539 0.82139 -0.97 0.44 0.12 5.00 07:10:36
XAU/USD 1,602.33 1,602.83 50.0 1,609.09 1,590.95 0.00 -0.0355 0.01 5.00 07:10:42
USDOLLAR 10,476 10,478 2.0 10,501 10,465 0.1460 -0.3163 1.21 82.50 07:10:07

Hi Jamz,

As I look at the live spreads right now, I'm seeing a GBP/JPY spread of around 4.3 pips on our No Dealing Desk (NDD) forex execution, and 3.3 pips on our new dealing desk option where prices are based on the NDD feed but with spreads that are 1 pip lower for the most popular currency pairs. It would not surprise me though if earlier you saw wider spreads for GBP/JPY. There has been greater volatility across all currencies to start the week given the news out of Cyprus.

EUR/JPY 1 Minute Chart
http://media.dailyfx.com/illustratio...0000_i1026.png


A bailout plan for Cyprus announced over the weekend has pushed the Euro sharply lower at the start of the trading week amid rising fears of mass capital flight. The proposal ties a €10 billion international bailout from the so-called “troika” (EU/ECB/IMF) to a levy on Cyprus banks’ accounts. Deposits up to €100,000 for both resident and non-residents are to be taxed at 6.7% tax while those above that threshold are to pay out 9.9%.

EUR/USD 1 Minute Chart
http://media.dailyfx.com/illustratio..._Picture_1.png


While Cyprus is a relatively small economy – comprising just 0.2 percent of overall Eurozone GDP – the level of panic evident across financial markets likely reflects fears of the precedent that EU officials are setting. This is creating concerns about a bank a run across the Eurozone as depositors scramble to move their capital out the region to avoid a Cyprus-like scenario.

Jason
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