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FXCM MT4 Good/Bad vs IBFX?

  • #101
  • Sep 21, 2014 3:53pm Sep 21, 2014 3:53pm
Quoting malejandrosf
They send me the login information to FXCM-USDReal09 server, but I can't see that server on my platform. I have to wait until they open the office in order to give them a call. I think FXCM will be better than IBFX. We'll see.
Quoting mzvega
{quote} What worked for me was to manually type or (cut & paste) "FXCM-USDReal09" in the menu prompt (drop down menu). You can also manually type the data in the "options" menu under server. {image} {image}
As a quick fix, you can log into your FXCM account on your old IBFX MT4 platform by typing the Server number (mt4d06.fxcorporate.com) in the Login window. However, I strongly suggest you install a new copy of the FXCM MT4 platform as soon as possible and begin using your new platform. Then you can transfer your indicators and EAs over to the appropriate new folders: http://download.fxcorporate.com/FXCM-MT4Install.exe
  • #102
  • Sep 21, 2014 3:55pm Sep 21, 2014 3:55pm
Quoting Jason Rogers
{quote} {quote} Hi Everyone, The spreads you see heading into the closing of the trading week (or right after the opening of the new trading week for that matter) are not typical of what you'll see during peak hours. Now that you're clients of FXCM, you should find the new pricing on your accounts to be very competitive.
  • #103
  • Sep 21, 2014 3:57pm Sep 21, 2014 3:57pm
Quoting hayseed
it's not to late to copy your ibfx journal records..... just to be safe.....h
That's a great suggestion, Hayseed

While you should all now see your balance and positions updated under your new FXCM account login, your previous trade history will not transfer to the new server. I encourage you to save/print out your old trade history if you wish to keep these records.
  • #104
  • Sep 21, 2014 4:07pm Sep 21, 2014 4:07pm
Quoting rsg10z
i can confirm that on my new FXCM account the balance has been transferred. The open positions are also there. However, they reset the TP/SL so apparently have to edit it tomorrow.
That's correct, Rsg10z

While balances and positions have been transferred, it's not possible to transfer pending orders placed with one broker to over to another.
  • #105
  • Sep 21, 2014 4:15pm Sep 21, 2014 4:15pm
Quoting PoundTrader
i like the new raw spreads with commision
Quoting srt
{quote}
We're happy you're happy.
  • #106
  • Sep 21, 2014 4:34pm Sep 21, 2014 4:34pm
Quoting Jason Rogers
We're happy you're happy.
Raw spreads with commission, I don't see anything like that on the FXCM AU site...
  • #107
  • Sep 21, 2014 4:34pm Sep 21, 2014 4:34pm
Quoting srt
I had a sizeable amount in an account @ PFG (peregrine financial group) when it went bankrupt as a result of fraud & that firm was a US company fully regulated by the NFA & CFTC. I've received 30% & will be lucky to get 50% of my funds returned :-(
I'm very sorry to hear what happened to you with PFG, and I hope you will get back all the money they owe you.

From what I've gathered from the news reports related to PFG, their fraud came to a halt when the US regulators made it a requirement for all regulated brokers to provide the regulators with electronic access to view the brokers' bank accounts. That meant PFG was could no longer falsely report their account balances as they had in the past. However, with an unregulated broker, there is no one checking up on their financial claims.


Quoting Aad
{quote} That's the truth about bankruptcy procedure, we would practically be at the bottom of the list to get funds back if at all.
You make an excellent point, Aad

Unlike in the UK and Canada, there is no funds protection scheme in the US to insure the accounts of forex traders if their broker becomes insolvent, and forex accounts in the US do not enjoy the secured creditor status they do in the UK and Canada. However, since US traders cannot open forex account in the UK or Canada, it becomes all the more important for them to choose a US-regulated broker with strong financials. Unfortunately, the vast majority of forex brokers are privately held companies, so it's hard to know the state of their finances. Are they profitable, or are they barely staying afloat? How can you know whether they are safe place to keep your money?

All traders need to ask their brokers the following questions regarding their financial stability.

  1. What are your revenues?
  2. How profitable is your firm?
  3. Do you have a top-tier third party accounting firm auditing your financials?

Since we are a publicly-traded company (NYSE ticker: FXCM) such information about our financials is readily available: http://www.fxcm.com/about/financials...0000000MusRAAS

  • #108
  • Edited 4:55pm Sep 21, 2014 4:37pm | Edited 4:55pm
Quoting Aad
{quote} Raw spreads with commission, I don't see anything like that on the FXCM AU site...
Hi Aad,

I notice your forum profile mentions that you live in Mexico. Was your IBFX account transfer to FXCM US or FXCM AU? I want to make sure I put you in touch with the correct staff in our customer support team. Please send me a private message with your email address, and I'll have our team check to make sure you have the correct settings on your account and follow up with you.

Also, related to our previous discussion regarding safety of funds, if you live in Mexico, then your FXCM account can be set up under UK regulation. That would mean your funds would be protected in the event of broker insolvency for up to £50,000 by the Financial Services Compensation Scheme: http://www.fscs.org.uk/what-we-cover...sation-limits/
  • #109
  • Sep 21, 2014 4:56pm Sep 21, 2014 4:56pm
Quoting Jason Rogers
{quote} Hi Aad, I notice your forum profile mentions that you live in Mexico. Was your IBFX account transfer to FXCM US or FXCM AU? I want to make sure I put you in touch with the correct staff in our customer support team. Please send me a private message with your email address, and I'll have our team check to make sure you have the correct settings on your account and follow up with you. Also, related to my previous post, if you live in Mexico, then your FXCM account can be set up under UK regulation. That would mean that your funds would be...
My current FXCM MT4 shows 400:1 leverage in the account as with IBFX AU, I doubt that's available to U.S. customers so I must be under FXCM AU. Do you not have an AU division and is that under similar UK regulations?...
  • #110
  • Sep 21, 2014 5:17pm Sep 21, 2014 5:17pm
Quoting Aad
{quote} My current FXCM MT4 shows 400:1 leverage in the account as with IBFX AU, I doubt that's available to U.S. customers so I must be under FXCM AU.
US regulations limit leverage to 50:1, so you are correct that your account must be with FXCM AU.

Quoting Aad
Do you not have an AU division and is that under similar UK regulations?...
Each of FXCM's entities worldwide is regulated by the government body in that particular region. FXCM AU is regulated by the Australian Securities and Investments Commission (ASIC). If you want your account set up under UK regulation, then it would have to be with FXCM UK. If you live in Mexico, then your account can be set up under FXCM UK, since only Australian residents are required to trade through FXCM AU.
  • #111
  • Sep 21, 2014 5:29pm Sep 21, 2014 5:29pm
ok..... drama is over...... everything seems in order..... balance moved..... trades moved..... all trades are positive......

now just one thing left to do....... .......

let's double our fxcm accounts..... without a single loss..... and never have a negative open trade balance........ ......h
//---------
Attached Image (click to enlarge)
Click to Enlarge Name: fxcm.png Size: 85 KB
to trade and code, keep both simple... no call to impress....h
  • #112
  • Sep 21, 2014 6:13pm Sep 21, 2014 6:13pm
Quoting hayseed
balance moved..... trades moved..... all trades are positive......
We'll take credit for the first two, but the third one is all you. Nicely done!
  • #113
  • Sep 21, 2014 6:19pm Sep 21, 2014 6:19pm
Quoting malejandrosf
I have to wait until they open the office in order to give them a call. I think FXCM will be better than IBFX. We'll see.
Hi Malejandrosf,

For future reference, FXCM's live customer support team is available by phone 24 hours a day, 7 days a week: http://www.fxcm.com/support/contact-...0000000MusRAAS

We've even beefed up our weekend staff to handle the extra calls we anticipate over the next few days as a result of our 13,000 new accounts transferred from IBFX.
  • #114
  • Sep 21, 2014 6:19pm Sep 21, 2014 6:19pm
A new transfer here also. Curious about something and who I should contact or what I can do. The price on the chart and the price in the market watch differ. It is not much, but is enough to cause some confusion.
Attached Image
Mark ... Everything you have been told is a LIE
  • #115
  • Sep 21, 2014 6:27pm Sep 21, 2014 6:27pm
Quoting spzd
A new transfer here also. Curious about something and who I should contact or what I can do. The price on the chart and the price in the market watch differ. It is not much, but is enough to cause some confusion. {image}
Hi Spzd,

Since your account was recently transferred from IBFX, you are one of our first clients to benefit from our new pricing. In fact, we just updated our US website this weekend to reflect this new pricing: http://www.fxcm.com/advantages/sprea...0000000MusRAAS

The Bid and Ask prices you see in your Market Watch window are the prices available to you for trading. However, MT4 servers can only show one price feed at a time. Since the majority of our clients are still on our old pricing, we have not been able to update the chart price feed yet. These chart prices will be updated in the near future to reflect our new spreads as more of our existing clients are made aware of these changes. While I don't have an exact date yet, I'll keep you posted.
  • #116
  • Sep 21, 2014 6:30pm Sep 21, 2014 6:30pm
Quoting Jason Rogers
{quote} Hi Spzd, Since your account was recently transferred from IBFX, you are one of our first clients to benefit from our new pricing. In fact, we just updated our US website this weekend to reflect this new pricing: http://www.fxcm.com/advantages/sprea...0000000MusRAAS The Bid and Ask prices you see in your Market Watch window are the prices available to you for trading. However, MT4 servers can only show one price feed at a time. Since the majority of our clients are still on our old pricing, we have not...

Makes perfect sense Jason. Thank you for the quick response. I am very pleased with these spreads. Have had no other issues in the transfer process. Glad to be with you!!

Mark
Mark ... Everything you have been told is a LIE
  • #117
  • Sep 21, 2014 6:32pm Sep 21, 2014 6:32pm
BTW - I have never seen a negative spread before. Just now did. LOL
Mark ... Everything you have been told is a LIE
  • #118
  • Sep 21, 2014 6:38pm Sep 21, 2014 6:38pm
Quoting Jason Rogers
{quote} Hi Spzd, Since your account was recently transferred from IBFX, you are one of our first clients to benefit from our new pricing. In fact, we just updated our US website this weekend to reflect this new pricing: http://www.fxcm.com/advantages/sprea...0000000MusRAAS The Bid and Ask prices you see in your Market Watch window are the prices available to you for trading. However, MT4 servers can only show one price feed at a time. Since the majority of our clients are still on our old pricing, we have not...
I forgot to ask you if FXCM AU's home page will eventually show those same spreads as FXCM US does on their home page?...

Quoting spzd
BTW - I have never seen a negative spread before. Just now did. LOL
Cool...
  • #119
  • Sep 21, 2014 6:45pm Sep 21, 2014 6:45pm
Quoting Aad
{quote} I forgot to ask you if FXCM AU's home page will eventually show those same spreads as FXCM US does on their home page?... {quote} Cool...
Yes, our plan is to offer this pricing worldwide, but due to the size of our client base and the time it takes to make the necessary changes to our websites and relevant disclosure documents, this process has to be completed in stages. We decided that since your accounts are being transferred to FXCM en masse and require a new setup anyway, that you'd be the first.
  • #120
  • Sep 21, 2014 6:59pm Sep 21, 2014 6:59pm
Quoting Jason Rogers
{quote} Yes, our plan is to offer this pricing worldwide, but due to the size of our client base and the time it takes to make the necessary changes to our websites and relevant disclosure documents, this process has to be completed in stages. We decided that since your accounts are being transferred to FXCM en masse and require a new setup anyway, that you'd be the first.
Looking at the spreads link you just posted and looking at my FXCM MT4, indeed my spreads are matching the spreads at that link. Very nice and I think I'm in love, lol...
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