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Attachments: FXCM Discussion
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FXCM Discussion

Quoting fx-trader777
People say lots of bad thing about this broker, I will also say if something happens with my account with them, but here is thing which I think is positive and I think I should also say that, Here is my short position and it reversed almost hitting my stop to BE just 2 pips was left and then it went down again, so dishonest broker would realize my stop and I could have never known that actually price was 2 pips away from stop order. Anyway I think this is good {image}
I've seen 0.2 pips away a few times, stop hitting happens before a reverse sure, but it's not the broker it's manipulation from the banks and the like, they just know where retail in general will be running there SL's.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
Quoting aud
Do the FX "pairs" available on FXCM include the UD $ Index?
Hi AUD,

I wanted to post an update regarding your question. Now in addition to trading the US dollar basket, anyone with a live account on our Trading Station platform (including US residents) can trade our new currency baskets for the Euro, Japanese yen, British pound and Australian dollar.

Currency baskets are a great way to express your trade opinion on a single currency without having to choose a specific currency pair. For example, if you feel bullish on the Japanese yen, you can buy the JPY basket. If you feel bearish on the Euro, you can sell the EUR basket.

To trade our new currency baskets follow the steps below:

1. Log into the Mirror Trader platform using your existing Trading Station username and password.


http://img42.imageshack.us/img42/6355/nfc.png



2. Click on the Basket tab on the platform.


http://img46.imageshack.us/img46/9671/vqp4.png



3. Select the basket and direction you want to trade, and click on the Open -> button. In this example, I am bearish on the Euro, so I chose "EUR Basket - Sell".


http://img153.imageshack.us/img153/223/9367.png



4. Select your trade size from the window that pops up and click Open.


http://img10.imageshack.us/img10/3149/7buk.png



After opening a currency basket trade, you can monitor it on either the Mirror Trading platform or Trading Station.

Let me know if you have any additional questions.

Jason
Quoting Jason Rogers
{quote} Hi AUD, I wanted to post an update regarding your question. Now in addition to trading the US dollar basket, anyone with a live account on our Trading Station platform (including US residents) can trade our new currency baskets for the Euro, Japanese yen, British pound and Australian dollar..... Jason
Hi Jason, Can you describe the composition of the Baskets? Thanks, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
Quoting AlbinaGrande
{quote} Hi Jason, Can you describe the composition of the Baskets? Thanks, AG
Hi AG,

Under the Basket tab of the Mirror Trader platform, click on the button on the left hand side of the basket you are interested in. The button will have a triangle on it that is pointing downwards, but after you click on the button, the triangle will point upwards, and you can see the currency pairs that make up the basket.

http://img17.imageshack.us/img17/3770/rru.png


In the example above, you can see that buying the AUD Basket means going long AUD/JPY and AUD/USD, while going short EUR/AUD and GBP/AUD.

Jason
CFD holiday trading hours for July

Below are the holiday trading hours for CFDs in July. Forex trading hours are as normal.

http://img41.imageshack.us/img41/2961/rwa.png

All times above are in GMT.
FXCM out of price stop hunting - live examples attached. It happens all the time.


Usual excuse for this manipulation when you make a complaint is this:

It is important to make a distinction between indicative prices (displayed on charts) and dealable prices (displayed on the FXCM Trading Station). Indicative quotes are those that offer an indication of the prices in the market, and the rate at which they are changing. These prices are derived from a host of contributors such as banks and clearing firms, which may or may not reflect where FXCM's liquidity providers are making prices. Indicative prices are usually very close to dealing prices, but they only give an indication of where the market is. Executable quotes ensure finer execution and thus a reduced transaction cost. Because the spot forex market lacks a single central exchange where all transactions are conducted, each forex dealer may quote slightly different prices. Therefore, any prices displayed by a third party charting provider, which does not employ the market maker's price feed, will reflect "indicative" prices and not necessarily actual "dealing" prices where trades can be executed.

BUT when you check other brokers for the indication of "dealable prices" no one is even close to the price at which FCXM has executed(hunt) stop order.
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Quoting Aragorn
FXCM out of price stop hunting - live examples attached. It happens all the time. Usual excuse for this manipulation when you make a complaint is this: It is important to make a distinction between indicative prices (displayed on charts) and dealable prices (displayed on the FXCM Trading Station). Indicative quotes are those that offer an indication of the prices in the market, and the rate at which they are changing. These prices are derived from a host of contributors such as banks and clearing firms, which may or may not reflect where FXCM's...
This is really scary! so does it mean that all that talk about NDD and STP is all crap??? so FXCM has its own deal able prices totally different from the market? does this also mean that they can shoot prices hundreds of pips above real interbank market prices as it suites them and then give you this cock and bull story To be honest I have only experienced stop hunting once on fxcm and when i did I screamed to high heavens and they apologized and re embossed my account. I operate a huge account with them and from now on ill keep my eyes pealed!!!
Quoting Aragorn
FXCM out of price stop hunting - live examples attached. It happens all the time. Usual excuse for this manipulation when you make a complaint is this: It is important to make a distinction between indicative prices (displayed on charts) and dealable prices (displayed on the FXCM Trading Station). Indicative quotes are those that offer an indication of the prices in the market, and the rate at which they are changing. These prices are derived from a host of contributors such as banks and clearing firms, which may or may not reflect where FXCM's...
Hi Aragorn,

One thing that stood out to me from the charts you posted is that you seem to place extremely tight stops. Your charts show 4 losing trades that you placed. I could not make out from your screenshots how many pips you lost on one of those trades, but the other three trades were closed out for losses of 5.2 pips, 3.4 pips and 10.6 pips respectively. It's important to keep in mind that the moment you get into a trade you're already down a couple of pips because of the spread, so if you have a stop that's 3.4 pips away, the market only has to move 1 pip to stop you out. That means you are placing trades that have a high probability of getting stopped out, and it has nothing to do with stop hunting.

Furthermore, it's possible when you are comparing our prices to those on other charts, that you are not taking into account the bid-ask spread. As you can see from the charts you posted, the FXCM Trading Station allows you to see both the bid price (blue line) and the ask price (purple line) simultaneously on a tick chart. If you have a short position, then you enter the trade at the bid price (AKA the sell price, but you close out the trade on the ask price (AKA the buy price). Many other charting programs only allow you to see the bid price which would be lower than the ask price at the time in question. That's something to keep in mind when comparing the ask price on our platform to prices you see on other charts.

I have attached an example below and highlighted the difference between the bid and ask prices on one of the charts you posted. Please let me know if you have any additional questions related to this.

Jason
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Quoting Makavell
{quote} This is really scary! so does it mean that all that talk about NDD and STP is all crap???
Hi Makavell,

I encourage you to review my response to Aragorn's questions: http://www.forexfactory.com/showthre...38#post6788738

As you can see from the charts, there were no price spikes. Most likely there was just some confusion regarding the bid-ask spread.

Quoting Makavell
I operate a huge account with them and from now on ill keep my eyes pealed!!!
It's good that you are vigilant. You mentioned your account with us, so it should reassure you to know that as a publicly-traded company (NYSE ticker: FXCM), we provide detailed information about our finances that is not readily available from smaller brokers. This and our popular No Dealing Desk (NDD) forex execution are reasons why traders have entrusted FXCM with $1.190 billion in client funds (as of our latest publicly available data).

Jason
Quoting Jason Rogers
{quote} Hi Makavell, I encourage you to review my response to Aragorn's questions: http://www.forexfactory.com/showthre...38#post6788738 As you can see from the charts, there were no price spikes. Most likely there was just some confusion regarding the bid-ask spread. {quote} It's good that you are vigilant. You mentioned your account with us, so it should reassure you to know that as a publicly-traded company (NYSE ticker: FXCM), we provide detailed information about our finances that is not readily available from smaller...

Noted thks
Quoting Jason Rogers
{quote} Hi Aragorn, One thing that stood out to me from the charts you posted is that you seem to place extremely tight stops. Your charts show 4 losing trades that you placed. I could not make out from your screenshots how many pips you lost on one of those trades, but the other three trades were closed out for losses of 5.2 pips, 3.4 pips and 10.6 pips respectively. It's important to keep in mind that the moment you get into a trade you're already down a couple of pips because of the spread, so if you have a stop that's 3.4 pips away, the market...
Hi Jason Rogers. As you can see from attached screenshot, your response is complete non sequitur. My extremely tight stops or bid-ask spread are not the problem. Problem is out of price execution. Ask price never reached 1.2273 (the highest ask price was 1.2272). So, why my short trade got stopped out?
Attached Image (click to enlarge)
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'
Quoting Aragorn
{quote} Hi Jason Rogers. As you can see from attached screenshot, your response is complete non sequitur. My extremely tight stops or bid-ask spread are not the problem. Problem is out of price execution. Ask price never reached 1.2273 (the highest ask price was 1.2272). So, why my short trade got stopped out? {image}
Here's something to ponder Aragorn, are you really so arrogant as to think FXCM is intentionally manipulating the charts for all of their clients, risking their entire business reputation as a major brokerage, in order to stop out your dollar stop-loss? I always get a kick out of these posts claiming there's some sinister plan to knock your stop out by brokers, and is largely perpetuated by the ignorant.
Quoting Kanzler
' {quote} Here's something to ponder Aragorn, are you really so arrogant as to think FXCM is intentionally manipulating the charts for all of their clients, risking their entire business reputation as a major brokerage, in order to stop out your dollar stop-loss? I always get a kick out of these posts claiming there's some sinister plan to knock your stop out by brokers, and is largely perpetuated by the ignorant.
It's not just about stop orders. Once my buy market order on EURAUD was executed 2 or 3 pips above the current Ask price. Too bad I did not make a screenshot. If you do the math things are pretty clear. From the closed trades ticket # in Combined Account Statement you can calculate their daily execution - it is around 25K trades. If they pull only a dollar out from every trade they end up with a $6,500,000 per year. If you make a complaint they can always appeal to - "indicative" prices and not necessarily actual "dealing" prices.
Quoting Aragorn
{quote} It's not just about stop orders. Once my buy market order on EURAUD was executed 2 or 3 pips above the current Ask price. Too bad I did not make a screenshot. If you do the math things are pretty clear. From the closed trades ticket # in Combined Account Statement you can calculate their daily execution - it is around 25K trades. If they pull only a dollar out from every trade they end up with a $6,500,000 per year. If you make a complaint they can always appeal to - "indicative" prices and not necessarily actual "dealing" prices.
Assuming everybody has their stops so close to the current price, sure. I just don't buy that they'd risk that given how well I'm certain the company is doing just based on the spread they collect. I guess their representative will provide a reply though.
Quoting Aragorn
{quote} Hi Jason Rogers. As you can see from attached screenshot, your response is complete non sequitur. My extremely tight stops or bid-ask spread are not the problem. Problem is out of price execution. Ask price never reached 1.2273 (the highest ask price was 1.2272). So, why my short trade got stopped out? {image}

Quoting Aragorn
{quote} It's not just about stop orders. Once my buy market order on EURAUD was executed 2 or 3 pips above the current Ask price. Too bad I did not make a screenshot. If you do the math things are pretty clear. From the closed trades ticket # in Combined Account Statement you can calculate their daily execution - it is around 25K trades. If they pull only a dollar out from every trade they end up with a $6,500,000 per year. If you make a complaint they can always appeal to - "indicative" prices and not necessarily actual "dealing" prices.
Hi Aragorn,

You mentioned that this occurs not only with stop orders, but also when you place market orders to buy. That proves this is not an example of stop hunting. I'd be happy to look into why your market orders (keep in mind that stop orders become market orders when triggered) were filled at a higher price than you expected. Please send me a private message with your account number and the ticket number of the trade you mentioned above, and I'll follow up on this for you.

Jason
Curious why stop loss was triggered when ask price never touched stop loss.
Quoting Jason Rogers
{quote} {quote} Hi Aragorn, You mentioned that this occurs not only with stop orders, but also when you place market orders to buy. That proves this is not an example of stop hunting. I'd be happy to look into why your market orders (keep in mind that stop orders become market orders when triggered) were filled at a higher price than you expected. Please send me a private message with your account number and the ticket number of the trade you mentioned above, and I'll follow up on this for you. Jason
You are right Jason, this is not stop hunting. This is something even worse - order execution at non-existent prices. Prices at which my orders were executed are not even the prices displayed on FXCM Marketscope tick charts, let alone prices that accuratley reflect market rates(real interbank market prices).

P.S. Account number and the ticket number for the last few trades are sent to your PM.
Quoting Aragorn
{quote} You are right Jason, this is not stop hunting. This is something even worse - order execution at non-existent prices. Prices at which my orders were executed are not even the prices displayed on FXCM Marketscope tick charts, let alone prices that accuratley reflect market rates(real interbank market prices). P.S. Account number and the ticket number for the last few trades are sent to your PM.

Aragorn, when you execute trades with a 3 to 10 pip stoploss you are definitely asking for trouble. even a 100pip stoploss is not safe enough for me. all you do by that practice is contribute your hard earned funds to the markets
Quoting Makavell
{quote} Aragorn, when you execute trades with a 3 to 10 pip stoploss you are definitely asking for trouble. even a 100pip stoploss is not safe enough for me. all you do by that practice is contribute your hard earned funds to the markets
I use low-volatility strategies so I have lower levels of risk than others.
Quoting Makavell
{quote} Aragorn, when you execute trades with a 3 to 10 pip stoploss you are definitely asking for trouble. even a 100pip stoploss is not safe enough for me. all you do by that practice is contribute your hard earned funds to the markets
A short stop loss (keeping spread in mind) can certainly be appropriate depending on the strategy, but that's irrelevant here.
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