FXOpen AU Discussion | Page 21 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

FxOpen Discussion 4 replies

Issues with FXOpen 289 replies

fxopen ecn/stp spread profit 2 replies

FXopen ECN 27 replies

Fxopen Are Scammer .................... ............... .. 5 replies

Attachments: FXOpen AU Discussion
Exit Attachments

FXOpen AU Discussion

  • #401
  • Sep 30, 2013 7:12am Sep 30, 2013 7:12am
Quoting faizpakoh
{quote} Just saying, last time i register Micro ECN under FxOpen AU(it was my mistake) because i thought that the starting lot size was 0.01, after i deposit my money 200aud, i try to open order but it was 0.1 minimum with 200aud which is pretty risky! I take my chances trying to trade, in the end i lost almost half of my deposit because of the lot size... I hope you can reconsider change minimum lot size for micro ecn(200aud) from 0.1 to 0.01
I do somewhat agree with this. Most ECN brokers with 0.01 lot size minimum have a $500-1000 minimum starting deposits, which is reasonable.

I pulled out a spreadsheet and ran a position sizing test. With a 0.1 (10,000 units of currency) minimum trade size, and 1:100 leverage for balances below $1000, even with a NZD base currency (say NZDUSD) you are looking at $70-90 margin just for one position and you can hold it for 155-160 pips before it reaches the 50% stop level.

I could be overlooking something, but I don't see the point in the micro ECN accounts with a 0.1 minimum order.
Measure trends automatically with zero lag
  • #402
  • Sep 30, 2013 7:34am Sep 30, 2013 7:34am
Quoting faizpakoh
{quote} Just saying, last time i register Micro ECN under FxOpen AU(it was my mistake) because i thought that the starting lot size was 0.01, after i deposit my money 200aud, i try to open order but it was 0.1 minimum with 200aud which is pretty risky! I take my chances trying to trade, in the end i lost almost half of my deposit because of the lot size... I hope you can reconsider change minimum lot size for micro ecn(200aud) from 0.1 to 0.01
I know 0.01 would be great to have, but in real trading it is hard to get filled for such a small amount. We tested it before going live to clients and it was disappointing. We couldn't offer micro lots unless we b-booked some clients which is not a road we want to go down.

Quoting ybfjax
{quote} I do somewhat agree with this. Most ECN brokers with 0.01 lot size minimum have a $500-1000 minimum starting deposits, which is reasonable. I pulled out a spreadsheet and ran a position sizing test. With a 0.1 (10,000 units of currency) minimum trade size, and 1:100 leverage for balances below $1000, even with a NZD base currency (say NZDUSD) you are looking at $70-90 margin just for one position and you can hold it for 155-160 pips before it reaches the 50% stop level. I could be overlooking something, but I don't see the point in the micro...
Our Micro ECN is really meant for you to test our execution and platform before committing more funds for trading. I would recommend an account size of $1000 or more to take advantage of STD account conditions if you already have experience with trading on an ECN.
  • #403
  • Sep 30, 2013 4:28pm Sep 30, 2013 4:28pm
from you guys website you have over 300,000 customers is this true?
  • #404
  • Sep 30, 2013 7:04pm Sep 30, 2013 7:04pm
Quoting FXOjafar
{quote} I know 0.01 would be great to have, but in real trading it is hard to get filled for such a small amount. We tested it before going live to clients and it was disappointing. We couldn't offer micro lots unless we b-booked some clients which is not a road we want to go down. {quote} Our Micro ECN is really meant for you to test our execution and platform before committing more funds for trading. I would recommend an account size of $1000 or more to take advantage of STD account conditions if you already have experience with trading on an...
Then you shouldn't have allow it in the first place, using 0.1 lot size on a $200 is pretty much asking for a margin call even on 1 trade. You said that using 0.01 was dissapointing, but you said that it was just for testing the exection/platform which is pretty much doesn't make any sense.If it really for testing then i don't see using 0.01 lot size is a problem since is a 'testing' account.

I currently been searching for other ECN account with 0.01 lot size and i found alot of them, and only $100 minimum deposit which is pretty damn good even though the commision is a bit higher. If other broker can do it why you can't do the same?

Most new comer in forex doesnt have $1000 starting money, it's like your saying i don't want customer with no money(which is about 1000 customer), i only accept customer with alot of money(100 customer).
Slow and Steady!
  • #405
  • Sep 30, 2013 7:48pm Sep 30, 2013 7:48pm
Quoting SmallPaul
from you guys website you have over 300,000 customers is this true?
No. This is not on our website. The figure you got is from FXOpen NZ's website I think. The liquidity that traders on FXOpen NZ generate is available to us though.

Quoting faizpakoh
{quote} Then you shouldn't have allow it in the first place, using 0.1 lot size on a $200 is pretty much asking for a margin call even on 1 trade.
It is up to you to decide if the level of risk on a $200 account is right for you or not. $200 is a minimum because you need almost all of it to open a single trade at 1:100 leverage. You don't have to stick to $200 as your deposit (and most don't). Our recommendation is to start with $1000 or more and take advantage of STD ECN conditions anyway.

Quoting faizpakoh
You said that using 0.01 was dissapointing, but you said that it was just for testing the exection/platform which is pretty much doesn't make any sense.If it really for testing then i don't see using 0.01 lot size is a problem since is a 'testing' account. I currently been searching for other ECN account with 0.01 lot size and i found alot of them, and only $100 minimum deposit which is pretty damn good even though the commision is a bit higher. If other broker can do it why you can't do the same? Most new comer in forex doesnt have $1000 starting...
It's simply not possible to provide ECN execution on a 0.01 lots order. If we dropped them all into a bucket like a market maker, we could offer it but our technology is not set up like that. If you do not have sufficient funds to trade 0.1 lot orders, please save a bit more starting funds or try a Market Maker based Micro account at FXOpen NZ until you can trade your funds up to point where you can handle 0.1 lot orders then give our ECN a try.
  • #406
  • Sep 30, 2013 9:31pm Sep 30, 2013 9:31pm
Plan to open a real account with FXOpen AU but can anyone tell me if there is any rebate program for FXOpen AU before I proceed? I agree that the transaction cost is already low but a cent saved is a cent.

BTW can anyone shares his/her none news slippage experience for pending stop orders (Majors only) with FXOpen AU during asia/london/us session?

Thanks.
  • #407
  • Sep 30, 2013 11:58pm Sep 30, 2013 11:58pm
Quoting mmaker
{quote} They have no discount programs. Make sure you understand that the low commission of 3.6 units base currency per lot round trip is only on Demo account, and when you deposit with less than $25,000 you will pay regular commission of 5.0 units base currency per lot round trip. Minimum order size is 0.1 lot or 10,000 units. There is no standard measurement for news slippage so what you are asking don't have answers.
I meant slippage during none news period.
  • #408
  • Oct 1, 2013 12:39am Oct 1, 2013 12:39am
Quoting SmallPaul
from you guys website you have over 300,000 customers is this true?
do you guys got 300,000 total customers as a company or what?
  • #409
  • Oct 1, 2013 12:40am Oct 1, 2013 12:40am
Quoting S3phiroth
Plan to open a real account with FXOpen AU but can anyone tell me if there is any rebate program for FXOpen AU before I proceed? I agree that the transaction cost is already low but a cent saved is a cent. BTW can anyone shares his/her none news slippage experience for pending stop orders (Majors only) with FXOpen AU during asia/london/us session? Thanks.
Hi S3phiroth

There are rebating IBs out there if you look for them. I cannot list any of them here unfortunately. If you have your favourite rebates service in mind, why not request that they open an account with us so that they can pay you the rebate?
  • #410
  • Oct 1, 2013 12:41am Oct 1, 2013 12:41am
Quoting PoundTrader
{quote} do you guys got 300,000 total customers as a company or what?
I answered that one before further up the thread. We don't state that figure on our website
  • #411
  • Oct 1, 2013 12:53am Oct 1, 2013 12:53am
Quoting mmaker
{quote} What tools do you use to measure that? How do you expect anyone to answer you if it cannot be properly measured?
How could that not possible to be measured? Say if you place your buy stop at 100.00 and it has been triggered but you get your entry price at 100.01 then your slippage is 1pips.
  • #412
  • Oct 1, 2013 1:00am Oct 1, 2013 1:00am
Quoting FXOjafar
{quote} I answered that one before further up the thread. We don't state that figure on our website
  • #413
  • Oct 2, 2013 12:17am Oct 2, 2013 12:17am
FXOpen ecn aggregates from several ecn, is it true? Any FXOpen ecn user can confirm this?
Attached Image (click to enlarge)
Click to Enlarge Name: mt4server-ecn_diagramm.jpg Size: 166 KB
  • #414
  • Oct 2, 2013 12:24am Oct 2, 2013 12:24am
Quoting S3phiroth
FXOpen ecn aggregates from several ecn, is it true? Any FXOpen ecn user can confirm this? {image}
That's right. Our ECN gives you prices from Liquidity Providers and other traders that you can interact with, rather than just streaming a price feed.
  • #415
  • Oct 2, 2013 1:36am Oct 2, 2013 1:36am
Quoting FXOjafar
{quote} That's right. Our ECN gives you prices from Liquidity Providers and other traders that you can interact with, rather than just streaming a price feed.
which means I can also see the limit order price posted by traders not just with FXOpen ECN right?
  • #416
  • Oct 2, 2013 1:37am Oct 2, 2013 1:37am
Quoting S3phiroth
{quote} which means I can also see the limit order price posted by traders not just with FXOpen ECN right?
That's right. Your orders are also visible in the ECN for others to see.
  • #417
  • Oct 2, 2013 1:47am Oct 2, 2013 1:47am
Great to hear that.

But I still haunted by the bad reputation of FXO in old day. Any seasoned traders here who gained back their trust against FXO care to comment?
  • #418
  • Oct 2, 2013 1:49am Oct 2, 2013 1:49am
One of the best brokers, absolutely no problem with their trading terminals and withdrawal systems. But they do not allow the scalping and hedging strategy which is bad.
  • #419
  • Oct 2, 2013 1:51am Oct 2, 2013 1:51am
Quoting Greeneyez
One of the best brokers, absolutely no problem with their trading terminals and withdrawal systems. But they do not allow the scalping and hedging strategy which is bad.
how could they not allow you to scalp if they are true ECN?
  • #420
  • Oct 2, 2013 7:28am Oct 2, 2013 7:28am
Quoting Greeneyez
One of the best brokers, absolutely no problem with their trading terminals and withdrawal systems. But they do not allow the scalping and hedging strategy which is bad.
Where did you get that information? We have absolutely no restrictions on hedging or scalping. Never have, never will.
0 traders viewing now