FXCM Discussion

LAMM accounts are available to non money managers. I use this option myself since I have multiple accounts, and like you I live in the US.

ok cool, thanks

Please be advised that after August 1st, MetaQuotes will stop supporting MT4 builds older than 600. After that date clients who use a build older than 600 will receive an "old version" error message and will not be able to access their accounts. Build 600 was released Feb. 3rd 2014 so most MT4 users should have already updated to a newer build. However, if you're still using an old version of MT4, you can get the latest MT4 build (number 670 at the time of this post) from our website.

You can check your MT4 build number on the platform by going to Help and clicking on About.

http://i.imgur.com/jVwGKxF.png

For traders with any questions about why MetaQuotes is no longer supporting older builds, this article on their website has more information.

Hello,

I have a question about Real Volume.
I'm trying to load Real Volume and Transactions indicators and they fail to show me anything, I see only a line in a middle, the indicator shows only that it is loading and nothing happens.. Maybe someone could help.

Thank You

Hi Pooshkis,

Thanks for your post. The first thing I would like to check is the number of charts you have added the indicator onto? The max number of charts you can have the indicator applied to is 16. The indicator would not work on the 17th chart and so forth. Alternatively, the indicator could be blocked by a firewall or something locally on the PC but our tech support would need to investigate. I will be in touch by private message.

Jason

Problem solved.

I managed to load Real Volumes. The problem was that, I installed Trading Station and Real Volume indicator not in default directory, I mean, default directory is C:\Program Files (x86)\Candleworks\FXTS2\...., and i changed directory when installed Trading Station to C:\Program Files (x86)\FXTS2\.. and somehow, when Trading Station is not in its default directory, indicator didn't work.

Thanks for letting me know!

Fine after fine after fine after fine after fine....

FXCM Faces $200,000 Fine for NFA Breaches

At least they are being keep honest. What about all the unregulated brokers, no one would know what they are up too but yet "traders" are stupid enough to open accounts with them.

Also look at all the banks that get fined these days ie Citigroup, Lloyds TSB and recently BNP! In the UK you can get compensation for being missold loan insurance from your bank. No ones crying wolf on the internet about that are they but I would think that is more of a scam than dealling with a unregistered firm.

Not saying its right but its rather common in the financial world to get fined for something a rather.

Edit: I dont have a account with FXCM.

what would be the settings to log into REALUSD-07 server?

Hi DDRReport,

The server address to log in is mt4r13.fxcorporate.com:443 . It should also automatically appear in the drop down menu by default when you install the latest version of MT4 from our website.

Jason

Quite the opposite! They are not being honest, thats why FXCM have been fined millions! Literary millions of dollars worth of fines... For them to be repeat offenders, it shows the reward is bigger than the fine. I have no idea why people still support these crooks.

Real Volume Webinar: DailyFX Analyst David Rodriguez is hosting a special webinar tomorrow discussing the new real volume and transactions indicator. Here are topics that will be discussed:

1. FXCM Trading Volume: How it represents the broader market.
2. REAL vs Tick Volume: Why there really is a difference.
3. Momentum Trading: What Real Volume says about the trends.
4. Strategy Development: How to enhance your market analysis.

The webinar takes place tomorrow at 12:00pm ET (16:00 GMT), located here.

There are things that badly need to be improved from FXCM and I NEVER GET ANY REPLY before . Despite the fact that I had posted many of these through live chat LONG AGO , I don't see ANY changes and update for MT4 users .

First , FXCM charges additional spread for MT4 users . That's fine but why does FXCM said that they only stored 'limited history records' on their MT4 platform ? Yes its perfectly fine on myfxcm.com , but not on the MT4 servers . How are FXCM user going to sync their live accounts with MyFXbook.com when history data are being deleted intentionally from MT4 ?

Second , again FXCM charges additional spread for MT4 users . A big company like FXCM . Why does FXCM hide the margin requirements and swap rates data on MT4 ? When I asked through live chat all the answers I get from live chat is 'Check it out on FXCM Trading Station' . Seriously , that is NOT PROFESSIONAL and doesn't help to solve the problem . Not EVERYONE is willing to learn how to use a new platform from scratch despite the fact most of them are familiar with MT4 . Generally , most of the brokers that also had multiple platforms shows the margin requirements and swap rate on MT4 under 'Market Watch -> Symbols -> Properties' as well . Just compare with other brokers ( example : FXPRIMUS 's MT4 ) and you get the idea of what I'm talking about . This will also definitely causes some troubles for MQL4 coders .

Third , I experienced on a live account and currently using MT4 to say this . For those who're on live account please do check it out too . Compare the bid and ask prices ON THE MT4 CHART and the bid and ask prices ON THE NEW ORDER BOX , I notice that there will ALWAYS BE A 0.5 pips DIFFERENCE regardless of what pairs you are trading . Why is this happening ? Both of them doesn't sync correctly . I had complained this many times through live chat , but still nothing has been changed to fix it .

Forth , there was once I was trading BEFORE the news hit , one of my trade was in the positive region and I had ALREADY secure my particular trade before the news even hit . However , there is still a huge slippage of 10.0 pips which causes me to lose on that particular trade . This really caused me to think are you really a STP broker as I had already secured my trades before the news hit though ? There're also times where FXCM MT4 always got disconnected , and the longest time it took me to reconnect was after 45 minutes , during that moment I HAD PERFECT CONNECTION if not how can I talk to FXCM through live chats ?

Don't forget you're charging FXCM users for using MT4 platform , you should really fix the above problems that I'd mention and it will definitely brings more good than harm to your company .

Hi Juniorlcq,

Thanks for your post. I'm happy to answer your questions.

While other MT4 brokers you've encountered might use the default MetaQuotes back office, FXCM uses our own back office system that allows our clients to access their accounts from multiple platforms. That means whether your primary platform is MT4, NinjaTrader, Mirror Trader or Trading Station, your account login will also give you access to our other platforms such as Trading Station Web for when you're using someone else's computer and Trading Station Mobile for when you're on your smartphone or tablet.

This flexibility has proven to be popular with many of our traders. As you noticed, one side effect of us using our own back office system is that we must archive MT4 data after one month to improve platform performance. However, all this data is still available on MyFXCM.com as you mentioned. In regards to syncing your live account with Myfxbook, note that their site is compatible with Trading Station. Since your MT4 login also works on Trading Station, you can sync your live account with Myfxbook in that way.


While I can appreciate your frustration, it's important to understand that you are not required to learn how to use a new platform from scratch just to see the margin requirements and swap rates. You don't even have to download a new platform. Your MT4 login will work on our web-based Trading Station: https://tsweb.fxcorporate.com/

That means all you have to is log in to view the margin requirements and swap rates which are listed as MMR and Roll respectively. You don't have to learn any platform commands. Simply log into the site and view the information.


There seems to be some confusion. It's worth noting that FXCM offers 3 pricing options on MT4 and all our other platforms: No Dealing Desk (NDD), Dealing Desk (DD) and Active Trader.

http://i.imgur.com/M0BmnSM.png

From your comments, I'm guessing that your account is either on DD or Active Trader pricing. Please note that reason you see a 0.5 pip difference on your MT4 charts is not because FXCM is charging you a higher spread on MT4. However, there is a limitation with the MT4 platform in that it can only display one pricing option per server on the charts. Our other platforms allow all 3 pricing options to be displayed on the charts. Since the majority of FXCM clients use our NDD pricing option, that's the only one we display on the MT4 charts. That means if your account on DD or Active Trader pricing then your charts will show the NDD price. However, the bid and ask prices in your Market Watch will reflect the pricing option of your account and your trades will be executed based on those prices.


There seems to be a misunderstanding about how pending orders (stops and limits) work in regards to slippage. When you said "I had ALREADY secure my particular trade before the news even hit", I'm assuming that you mean you set a stop order for your open position. It's important to note that when a stop order is triggered, it becomes a market order and can only be filled at a price that's available in the market. Even if you set your stop order well in advance of a news event, that does not guarantee your stop price. Also, you refer to 10.0 pips as "huge slippage". This suggests that you do not appreciate how much the risk of slippage increases during news events.

Anyone trading in the forex, stock, or futures market has to be willing to accept the risk that goes along with having orders executed during illiquid market conditions. There's no sugar coating this. Slippage is one of the risks you assume when trading, and the risk of slippage is greatest during volatile markets such as around a news announcement like NFP.

If your stop loss order price is reached, then it is executed as a market order. You may want to sell at a certain price, but there has to be a buyer on the other side to complete that transaction. If there is no buyer at your stop price, then the order will be filled at the best available price. If the market gaps through your order price during an illiquid market period such as the weekend open or NFP, then you will likely experience slippage.

We don't have to imagine what this would be like, because we have a real life example from the NFP announcement on Friday, 8 November 2013. That announcement caused EUR/USD to gap down 50+ pips at 8:30 AM EST. As you can see from the tick chart below, this move happened in less than one second.

http://img600.imageshack.us/img600/7281/zawm.png

If you tell me the exact time you experienced the 10.0 pips of slippage on your stop, then we can look at the tick chart together to see how much the market moved at the time in question. Also, keep in mind that with FXCM, slippage can be positive or negative. It's worth noting the following stats regarding our trade execution:

1. 73% of all orders had NO SLIPPAGE.
2. 15% of all orders received positive slippage.
3. 12% of all orders received negative slippage.
4. Over 60% of all limit and limit entry orders received positive slippage.
5. 53.32% of all stop and stop entry orders received negative slippage.

FXCM platforms provide traders with tools to minimize negative slippage and maximize positive slippage. In just the 6 months between August 2013 and January 2014, FXCM clients received $15.5 million in positive slippage.

If you have not already filed a trade inquiry regarding this, I encourage you to do so using this link. The Trade Services Team will investigate what happened and follow up with you. If there was an error with our trade execution, they will make the appropriate correction to your account.

Jason: why does FXCM have like 25 pips spread in USD/CNH. Interactive Brokers is below 2 pip. Surely you can do better than that.

Good question

There are two things to keep in mind when trading USD/CNH:

1. The pip cost for this pair is less than one-sixth that of EUR/USD. That means on a 25 pip spread, you're paying about 40 cents on a micro lot trade with no additional commission. That's compared to a minimum $2 commission on top of the spread with the other broker you mentioned.
2. If you're looking to trade larger size on USD/CNH, then our Active Trader department will be happy to discuss this with you to see if we can set you up lower spreads for this pair. You can email them at [email protected]

Can you do 2 on Activetrader for 100K lots then?

Only the Active Trader department can make such decisions. You can email [email protected] and an Active Trader specialist will follow up with you.

Thanks for your reply .

As for the second comment , login in through the website is quite a good idea , but don't you think it will be more convenient for traders if they are able to access the data through MT4 immediately ? Especially programmers . Like I said , it's NOT professional enough though as it doesn't really solve the root of the problems .

From my third comment , this is exactly what I mean ! There's absolutely something fishy about this .

Whenever you trade , it ALWAYS GO AGAINST you by 0.5 pips . I'm on NDD . Isn't this charging higher for all my trades ?

As for my forth comment , by SECURING my trades I meant protecting with stop loss . Does this fall under stop orders as well ?