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FXOpen AU Discussion

  • #521
  • Jan 27, 2014 6:33pm Jan 27, 2014 6:33pm
Quoting entheos
{quote} Hi, The latest build is 509. Metaquote is not yet update. update date:3 next month. You can check mql4.com
I've heard from associates in other companies that build 577 is causing a little trouble with their clients.

Please avoid build 577 if you can. Make sure you use our MT4 available at http://www.fxopen.com.au/TerminalMetaTrader4.aspx and not any version downloaded from the Metaquotes portal.
  • #522
  • Jan 27, 2014 8:28pm Jan 27, 2014 8:28pm
Thanks Guys

I'll try uninstall then reinstalling the old version and update you if this fixes the problem.


I appreciate your guidance.
Traders gain some knowledge, win, their emotions kick in, and they die.
  • #523
  • Jan 27, 2014 10:29pm Jan 27, 2014 10:29pm
Quoting FXOjafar
{quote} I've heard from associates in other companies that build 577 is causing a little trouble with their clients. Please avoid build 577 if you can. Make sure you use our MT4 available at http://www.fxopen.com.au/TerminalMetaTrader4.aspx and not any version downloaded from the Metaquotes portal.
Hi,jafar.
You`re right.
I did test beta build.
so many bugs.
I reported metaquote forum site.
but i gave up.
  • #524
  • Jan 31, 2014 11:16pm Jan 31, 2014 11:16pm
Hello FXOjafar,

Please elaborate on "The maximum allowable slippage value may vary depending on the level of market volatility at the moment, when a Client initiates an Order from his terminal. The maximum allowable slippage value is defined by a company."

How can I get the value defined by the company or get an approximate value?

Regards.
  • #525
  • Jan 31, 2014 11:25pm Jan 31, 2014 11:25pm
Quoting ramacan
Hello FXOjafar, Please elaborate on "The maximum allowable slippage value may vary depending on the level of market volatility at the moment, when a Client initiates an Order from his terminal. The maximum allowable slippage value is defined by a company." How can I get the value defined by the company or get an approximate value? Regards.
hi,
It is offered by MM brokers only.
fxopen is ecn broker.
  • #526
  • Feb 1, 2014 9:47am Feb 1, 2014 9:47am
FXOjafar,

Found what I was looking for here http://www.fxopen.com.au/AccountSpec....aspx?type=ecn. For EurUsd, is the 100 max slippage in points or pips?
  • #527
  • Feb 3, 2014 8:01pm Feb 3, 2014 8:01pm
Do fxopen accept custodial account(via a tripartite agreement with another bank) for US$250K deposit? Leverage 50:1 is fine.
  • #528
  • Feb 3, 2014 9:36pm Feb 3, 2014 9:36pm
Quoting ramacan
FXOjafar, Found what I was looking for here http://www.fxopen.com.au/AccountSpec....aspx?type=ecn. For EurUsd, is the 100 max slippage in points or pips?
The maximum slippage is 100 pips. If it exceeds that level against you such as at a very major news event, we would just not fill that position to save you from suffering a debilitating loss.

Quoting good mind
Do fxopen accept custodial account(via a tripartite agreement with another bank) for US$250K deposit? Leverage 50:1 is fine.
I'm sorry, we can't accept custodial accounts. We may need access to the funds for margining your trades and a custodial account may not allow that to happen within a reasonable time frame. You can deposit the entire amount with us with full confidence as we hold all client monies with CBA which is one of Australia's "Big 4" banks.
  • #529
  • Edited 1:53am Feb 4, 2014 1:28am | Edited 1:53am
FXOpen AU Product Disclosure Statement
"Whilst the money you deposit in your account is segregated from our own, the funds are not held in a separate account. They are held in an account together with the funds of our other clients. This exposes each client to an increased counterparty risk that they may not receive all of the money held by us on their behalf in the client trust account if there is a deficit and we become insolvent or otherwise unable to pay the deficiency." (fxopen offers very high leverage. Some clients are likely in negative balance. Is there a accumulative deficit?)

"We may also debit amounts from the client monies account in the following limited circumstances
(f) to make investments authorised by the Corporations Act 2001 or Corporations Regulations 2001 (for example, an Australian )interest bearing account."

What investments will fxopen make? Low risk products like AA rating bond?
Is fxopen financial condition stable? Is annual report available?
  • #530
  • Feb 4, 2014 4:15am Feb 4, 2014 4:15am
Quoting good mind
(fxopen offers very high leverage. Some clients are likely in negative balance. Is there a accumulative deficit?)
Hi Goodmind

We have a margin call at 100% and stop out at 50%. In addition, the maximum leverage allowed for Micro ECN accounts (Less than $1000 balance) is 1:100. This lowers the risk of a client going kamikaze with the leverage and ending up with a negative balance. In the extremely unlikely event that a client account ends up with a large negative, we are insured against such a liability anyway. I am 99.99999% sure that will never happen as we have very strict controls to avoid such a situation arising in the first place.

Quoting good mind
"We may also debit amounts from the client monies account in the following limited circumstances (f) to make investments authorised by the Corporations Act 2001 or Corporations Regulations 2001 (for example, an Australian )interest bearing account." What investments will fxopen make? Low risk products like AA rating bond? Is fxopen financial condition stable? Is annual report available?
That clause is only there as a legal requirement should ASIC change the rules in the future. In reality we are forbidden from using client funds for anything except margining your trades unless we are given written permission from you to invest on your behalf in certain investments and with ASIC approval. See RG212 for details on how client funds must be handled. https://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg212-9July2010.pdf/$file/rg212-9July2010.pdf

You can find our financial reports on the ASIC website http://www.asic.gov.au/ (for a fee). We are currently engaged in an annual audit and will have the latest figures by the end of April. Currently, we are fully compliant with current ASIC guidelines RG166 https://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg166-published-21-November-2013.pdf/$file/rg166-published-21-November-2013.pdf and more than meet the financial requirements described therein. Such guidelines are designed to ensure that a broker such as ourselves is wound up well before it becomes insolvent. I can assure you that we are in a very good position in that regard.

We have a lot of experience in the industry to draw upon and we never have and never will make foolish investments, nor will we overstretch ourselves with frivolous expenses, unrealistic promotions or foolish liabilities. You can trust FXOpen AU to remain stable and always there to offer you the best of support, and trading conditions with minimum distractions to enable you to trade and maximise your profitability.
  • #531
  • Feb 5, 2014 7:54am Feb 5, 2014 7:54am
Hi FXOjafar,

I would like to check with you whether all the Live servers use the same time.
e.g Server 1 current time is 1am, Server 2 current time is 1am.... and so on for all servers.

Thanks.
  • #532
  • Feb 5, 2014 6:35pm Feb 5, 2014 6:35pm
Quoting minirap
Hi FXOjafar, I would like to check with you whether all the Live servers use the same time. e.g Server 1 current time is 1am, Server 2 current time is 1am.... and so on for all servers. Thanks.
Hi Minirap

Our servers are currently using GMT +2 and are syncronised with FXOpen NZ's servers as you have listed.
  • #533
  • Feb 5, 2014 7:54pm Feb 5, 2014 7:54pm
Quoting FXOjafar
{quote} The maximum slippage is 100 pips. If it exceeds that level against you such as at a very major news event, we would just not fill that position to save you from suffering a debilitating loss. {quote} I'm sorry, we can't accept custodial accounts. We may need access to the funds for margining your trades and a custodial account may not allow that to happen within a reasonable time frame. You can deposit the entire amount with us with full confidence as we hold all client monies with CBA which is one of Australia's...
Hi, jafar.
i think it is 10 pip.
because 5 decimal.
  • #534
  • Feb 5, 2014 8:02pm Feb 5, 2014 8:02pm
Quoting entheos
{quote} Hi, jafar. i think it is 10 pip. because 5 decimal.
No. It's in full pips.
  • #535
  • Feb 5, 2014 11:48pm Feb 5, 2014 11:48pm
Quoting FXOjafar
{quote} No. It's in full pips.
If it is correct,
What`s the point of control?
Have you experience slippage over 100 pips?
  • #536
  • Feb 5, 2014 11:51pm Feb 5, 2014 11:51pm
Quoting entheos
{quote} If it is correct, What`s the point of control? Have you experience slippage over 100 pips?
The slippage control is there to minimise your loss. If you were slipped 100 pips and made a large loss, you would not be a happy trader. It is extremely rare for such slippage to happen, but it can happen. While we cannot stop every loss, it's good to know that we are on your side to prevent the worst of them.
  • #537
  • Feb 6, 2014 12:43am Feb 6, 2014 12:43am
100 pips is ridiculously high, what is the probability of getting slipped by 100 pips on eurusd....0.0001%?
  • #538
  • Feb 6, 2014 1:42am Feb 6, 2014 1:42am
Quoting ramacan
100 pips is ridiculously high, what is the probability of getting slipped by 100 pips on eurusd....0.0001%?
It's a BLACK SWAN event: http://www.investopedia.com/terms/b/blackswan.asp
If probability is not 0% then it could happen.....
  • #539
  • Feb 8, 2014 2:01am Feb 8, 2014 2:01am
Quoting FXOjafar
{quote} I've heard from associates in other companies that build 577 is causing a little trouble with their clients. Please avoid build 577 if you can. Make sure you use our MT4 available at http://www.fxopen.com.au/TerminalMetaTrader4.aspx and not any version downloaded from the Metaquotes portal.
Hi, jafar

I have download MT4 server from your website:
http://www.fxopen.com.au/TerminalMetaTrader4.aspx

After installed it I found the MT4 version is build 604 in 7 Feb 2014, and my EA can NOT run with this version.

As you said above the latest stable build should be build 509, but I have no idea why I get the build 604 from you official site. How can I get back to the old version?
  • #540
  • Feb 11, 2014 12:26am Feb 11, 2014 12:26am
Quoting hustwk
{quote} Hi, jafar I have download MT4 server from your website: http://www.fxopen.com.au/TerminalMetaTrader4.aspx After installed it I found the MT4 version is build 604 in 7 Feb 2014, and my EA can NOT run with this version. As you said above the latest stable build should be build 509, but I have no idea why I get the build 604 from you official site. How can I get back to the old version?
I have received response of FXOpen client's support as below:
FXOpen (as most brokers running MT4) get their updates directly from Metaquotes. 604 is the latest stable however they have changed the file structure from 600 onwards.

The correct location to put your EA's and indicators can be found by going to the File menu and selecting Open Data Folder. Go into the MQL4 folder and there are two subfolders Experts and Indicators where these are supposed to go. Move these into these folders and restart MT4.
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