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FXCM MT4 Good/Bad vs IBFX?

  • #301
  • Edited 8:16pm Oct 28, 2014 8:00pm | Edited 8:16pm
Quoting Jeff Crystal
{quote} I realize that but why do You allow stops that can not be executed ? This is Sloppy on your end and non defensible . If you can not fill at that price you should return a Error code ERR_INVALID_STOPS 130 Invalid stops. or "ERR_TRADE_PROHIBITED_BY_FIFO " The fifo error comes only when U are in trouble. Look you are a cooler and Their is no since barking at you. This is just one of many errors. Another one would be that I can not place hand trades with out a invalid price . this means FXCM is not handled the Fill or Kill Metatrader orders the same way IBFX did. I suggest you find out why IBFX had such loyal clients that even paid more not 2 have silly errors. IBFX Back office / order routing was light years beyond FXCM. Do not quote a bunch of BS back. Just take the time like a wise young man and seek out their technology U might learn some thing.
Hi Jeff,

I can appreciate your frustration, but it's important to keep in mind that MT4 is a third-party platform. There are limits to the modifications that we can make to a third-party platform in regards to how it handles non-FIFO compliant orders placed on a US trading account. These limitations are not unique to FXCM and affect all US brokers that abide by CFTC regulations regarding FIFO execution.

The reason you may not have encountered these limitations before is because your former broker used to allow front-end hedging and non-FIFO order platform on MT4. It's worth noting that they discontinued this practice shortly before discontinuing service for MT4 accounts altogether.

Now that your MT4 account has been acquired by FXCM, your MT4 login details will also work on our Trading Station platform, which we developed in-house. On this platform, we have made changes similar to what you had in mind to help our US-based clients place orders in a FIFO-compliant manner.


Quoting Jeff Crystal
Why is Marketinfo(Symbol(), MODE_SWAPLONG) not giving any rate info?
While you won't be able to access swap information directly on your MT4 platform, as I mentioned previously, your login details will also work on Trading Station where you can see this info displayed as RollS and RollB under the Advanced and Simple Dealing Rates tabs as shown below.

http://img43.imageshack.us/img43/6706/1gf8.png


You don't have to download Trading Station Deskstop, if you don't have it on your computer already. There is a web version of Trading Station with the same information available: https://tsweb.fxcorporate.com/
  • #302
  • Oct 28, 2014 8:01pm Oct 28, 2014 8:01pm
Quoting anudora
{quote} Hi Jason, I would like to know the reason why my MT4 still show that the EURUSD spread is 2.3 pips but not the "Super-Tight Forex Spreads" that your website claim it is. Is FXCM AU entitled to the tight spreads? In your previous reply, I can see that you claim that we had to receive an e-mail regarding this issue but until now (1 month already) I did not receive that email. Is the Super-Tight Forex Spreads advertise in the webpage just for fun? Or I need to had a SUPER LARGE account to enjoy the benefit? BTW, I had a live chat with FXCM...
Quoting anudora
4 days and still no reply. Poor service everywhere. I wonder where they get these people. Better start searching for other broker.
Hi Anudora,

I apologize for my delay in responding. We've seen a surge in interest on the forums regarding our new pricing, and I'm just now getting caught up with all the posts.

FXCM's new pricing has already been rolled out to our clients living in the US, UK and Australia. The transition is being done region by region 1) to ensure we follow regulatory requirements for due notice to traders which vary by regulator and 2) to ensure an orderly transition within our own system so as not to negatively impact our traders.

You mentioned that your account is with FXCM AU, but if you live outside of Australia itself, your account may still on our old pricing. Your forum profile mentions that you live in Malaysia. While I do not have information on transition dates for our clients in Malaysia at this time, you will receive email notification should a transition date be scheduled.

For future reference, if you require immediate assistance, you can contact our live customer support 24 hours a day by clicking on the Live Chat button on our website or by calling our toll-free number in Malaysia: 1-800-81-6388.
  • #303
  • Oct 28, 2014 8:04pm Oct 28, 2014 8:04pm
Quoting albchr
{quote} Hi Jason, While I appreciate the sentiment, let me save you some time in reading and responding to the links I posted. I really see no need for you to do so. The problems I'm experiencing now first hand are exactly the same as I've heard and read about since I first started searching for brokers 7 to 8 years ago. It seems rather obvious (to me at least) FXCM has no intention what so ever in ever doing anything to improve the situation for anyone who isn't a BIG player. Let's face it, the little guy has always been shit on the worst and he...
Hi Chris,

I just wanted to thank you again for posting this update in the main FXCM discussion thread: http://www.forexfactory.com/showthre...38#post7818138

I'm so glad to learn that your problem with "off quote" messages was resolved by adjusting your Maximum Deviation setting on MT4.

It's worth noting that FXCM's MT4 platform is unique. We enhanced the functionality of the Maximum Deviation feature of the platform, so it only limits negative slippage, but not positive slippage. That means regardless of how high or how low you set your Maximum Deviation tolerance, your order will always get filled at the best available prices from 10+ competing liquidity providers and receive the full benefits of any positive slippage that's available. More details are available in this post:http://www.forexfactory.com/showthre...11#post7764911
  • #304
  • Oct 28, 2014 8:06pm Oct 28, 2014 8:06pm
Quoting Jason Rogers
{quote} Hi Chris, I just wanted to thank you again for posting this update in the main FXCM discussion thread: http://www.forexfactory.com/showthre...38#post7818138 I'm so glad to learn that your problem with "off quote" messages was resolved by adjusting your Maximum Deviation setting on MT4. It's worth noting that FXCM's MT4 platform is unique. We enhanced the functionality of the Maximum Deviation feature of the platform, so it only limits negative slippage, but not positive slippage. That means regardless of...
Ghost Rider - WWTBMD?
  • #305
  • Oct 28, 2014 8:20pm Oct 28, 2014 8:20pm
Quoting Jason Rogers
{quote}There is a web version of Trading Station with the same information available: https://tsweb.fxcorporate.com/
Can you please try and confirm that the web version of TS is still working? I've tried a few times in the last weeks to login, but the page never gets to the part where you enter your name and password, it remains stuck on the spinning loading screen.

I've tried it in 3 different browsers - Firefox, Chrome, IE, all the latest version on Windows 8.1 fully patched.
  • #306
  • Oct 29, 2014 6:07am Oct 29, 2014 6:07am
Quoting Adal
Can you please try and confirm that the web version of TS is still working? I've tried a few times in the last weeks to login, but the page never gets to the part where you enter your name and password, it remains stuck on the spinning loading screen.
//----

hey adal..... that link gets to the login for me but took maybe 30 seconds.... i use etradefx which uses fxcm's marketscope, ts, and the web based platform works okay there..... except on weekends of course.....

noticed now it's possible to be logged in the desktop platform and web based platform at the same time...... could not do that before.....h
to trade and code, keep both simple... no call to impress....h
  • #307
  • Edited 2:28pm Oct 29, 2014 11:57am | Edited 2:28pm
Quoting Adal
{quote} Can you please try and confirm that the web version of TS is still working? I've tried a few times in the last weeks to login, but the page never gets to the part where you enter your name and password, it remains stuck on the spinning loading screen. I've tried it in 3 different browsers - Firefox, Chrome, IE, all the latest version on Windows 8.1 fully patched.
Quoting albchr
{quote} Thanks Jason I appreciate that. I do have a question about the web based Trade Station. Whenever I go there it just sits "connecting" with it's spinning graphic but never completes. I use IE 11. Is it likely just a security setting or something in my browser? This is all I've ever seen ... lol {image}
Hi guys,

I'm responding to you together because I noticed that you both posted about having issues logging into Trading Station Web around the same time last night. I just tried logging into Trading Station Web on my end and can confirm that it connected for me without any problems.


http://i.imgur.com/awGK5Io.png



My web browser is Google Chrome version 38.0.2125.104, and my office computer runs on Windows 7 Enterprise. My first suggestion would be for you to try installing the latest version of Adobe Flash from www.adobe.com and see if that lets you log into Trading Station Web: https://tsweb.fxcorporate.com/
  • #308
  • Oct 29, 2014 8:14pm Oct 29, 2014 8:14pm
Quoting Jason Rogers
{quote} Hi Scalpz, I want to help you, but please recognize that all the other traders who were missing chart data on MT4 server USDReal09 confirmed that the issue was fixed for them last month. If you send me a private message with your contact details, I would be happy to arrange for a member of our tech support team to give you a follow up call to troubleshoot the problems you are still having.
Hi Jason, I dont think you realise that the other traders you refer to had a previous gap in their data. I also had that and that fix, because I am on the same fxcm-USDReal09 server unfortunately.

I have been in contact with Live Chat peoples, customer support, and tech support. Nobody at fxscm was willing to denie OR acknowledge that THEY have a problem with that server. I have sent them a chart as they requested. I have deleted my data folders as they have requested. Non of them have had decency to send me back a chart showing the 14Oct data as they see it, no mater how many of them I ask.

After almost 3 weeks, have finally got as close to an acknowledgement of a problem, so guess I will make it public as it has not been flagged on the fxscm public status site.
Below is part of an email I received:

We have decided not to include this data for business reasons. You can also download the data through history center from metaquotes directly if you wish but for now there will be gaps on this chart of USDreal09 for this time frame.

FXCM
55 Water St., 50th Floor
New York, NY 10041

[email protected]

This was after he said he would send me a .csv file to import to fix the gaps.

So I will be moving forward with what was my backup broker. Now looking for an alternate to replace fxcm as my temporary backup broker.

regards scalpz
Target 2 : Stoploss in the green
  • #309
  • Nov 5, 2014 8:34am Nov 5, 2014 8:34am
Quoting Jason Rogers
{quote} Hi Jeff, I can appreciate your frustration, but it's important to keep in mind that MT4 is a third-party platform. There are limits to the modifications that we can make to a third-party platform in regards to how it handles non-FIFO compliant orders placed on a US trading account. These limitations are not unique to FXCM and affect all US brokers that abide by CFTC regulations regarding FIFO execution. The reason you may not have encountered these limitations before is because your former broker used to allow front-end hedging and non-FIFO...
I can appreciate That you can not modify MT4 But their where many modification 2 MT4 with in the IBFX frame work. Example . I never have had Re quotes or off quotes in years. I get them Daily with in FXCM ( Metatrader). I missed two orders yesterday. do 2 off quotes. or market not at that price. Why if you bought IBFX and the metatrder licenses would you NOT fix the metatrader FILL or KILL orders. by rerouting them 2 another bank. IBFX was one of the 1st Firms 2 EVER get a metatrader licenses and they fixed many of these issue. Why can't FXCM ? Because they do not have the technology? or they did not want the cost of the programmers who fixed ... GRRR
  • #310
  • Nov 5, 2014 2:19pm Nov 5, 2014 2:19pm
Quoting Jeff Crystal
{quote} I can appreciate That you can not modify MT4 But their where many modification 2 MT4 with in the IBFX frame work. Example . I never have had Re quotes or off quotes in years. I get them Daily with in FXCM ( Metatrader). I missed two orders yesterday. do 2 off quotes. or market not at that price. Why if you bought IBFX and the metatrder licenses would you NOT fix the metatrader FILL or KILL orders. by rerouting them 2 another bank. IBFX was one of the 1st Firms 2 EVER get a metatrader licenses and they fixed many of these issue. Why can't...
Hi Jeff,

There are no re-quotes with FXCM. Re-quote messages are designed to protect a dealing desk broker from losses. By contrast, FXCM provides you with No Dealing Desk (NDD) forex execution, which means we don't take the market risk on the other side of your trades. The "off quote" messages you see on our MT4 platform are designed to protect you from unwanted negative slippage. What you pointed out actually highlights a unique advantage of our MT4 setup.

If you receive an "off quotes" message, then it most likely means the price that was available in the market to fill your order was outside your specified Maximum Deviation range. The "off quotes" message lets you know that the order was cancelled to protect you from negative slippage beyond your accepted tolerance.

On the MT4 platforms of some brokers, the Maximum Deviation feature might not be available at all, and with others if it is available, then it can limit both your negative slippage and your positive slippage equally. By contrast, FXCM enhanced how Max Dev works on our MT4 platform by allowing you to limit your negative slippage while still enjoying the full benefits of any positive slippage.

Here are the stats compiled from over 43 million trades executed through FXCM from August 2013 to January 2014:

  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.

In just those six months alone, FXCM clients benefited from over $15 million in positive slippage: http://bit.ly/16Z5Za2

If you find that you are getting the "off quotes" message too frequently, then consider increasing your Maximum Deviation, particularly if you trade during times when prices can change quickly. You can access this on your MT4 platform by going to Tools > Options and the Trade tab as shown below.


http://img811.imageshack.us/img811/9...mdeviation.png



Since FXCM uses 5-digit pricing (fractional pips), every 10 points on the Maximum Deviation is equivalent to one pip. If you adjust your Max Dev to 30, that would equate to price range of 3 pips.

Please let me know if you have any further questions about this.

Thanks,
Jason
  • #311
  • Nov 7, 2014 3:14pm Nov 7, 2014 3:14pm
Quoting Jason Rogers
{quote} ...{image}
Since FXCM uses 5-digit pricing (fractional pips), every 10 points on the Maximum Deviation is equivalent to one pip. If you adjust your Max Dev to 30, that would equate to price range of 3 pips. Please let me know if you have any further questions about this. Thanks, Jason
WARNING FOR FXSCM MT4 CUSTOMERS

Is this why your Trailing Stop function doesnt work properly as well.
Looks like entering 60 pip trailing stop adjusts the price to right close to the current bid/ask prices and of course gets taken out easily.

Why call those entries pips at all. Use pipettes or points or place your line of txt above on every screen in MT4 where you are using it differently to its design.

You should send that line and its implications out to ALL of your customers.
Use the platform email - OH wait, thats seems to be turned off. Have only ever had the 1 email, the thankyou for registering.

scalpz
Target 2 : Stoploss in the green
  • #312
  • Nov 9, 2014 2:51pm Nov 9, 2014 2:51pm
Hi

can anyone help me..I am new here .......I have never traded in US under NFA restrictions......can anyone explain what restrictions NFA imposes on trades....I know the No hedge and FIFO rule for multiple positions on same pair......other than that what other restrictions are there if I trade with FXCM?
  • #313
  • Nov 9, 2014 6:26pm Nov 9, 2014 6:26pm
Quoting LightNmagic
Hi can anyone help me..I am new here .......I have never traded in US under NFA restrictions......can anyone explain what restrictions NFA imposes on trades....I know the No hedge and FIFO rule for multiple positions on same pair......other than that what other restrictions are there if I trade with FXCM?
50:1 margin is our MAX
  • #314
  • Nov 11, 2014 9:28am Nov 11, 2014 9:28am
Quoting Jason Rogers
{quote} Hi Liviu, FIFO regulations apply to all US trading accounts regardless of the broker. However, you can still partially close trades on your MT4 platform. {image} In the Order window of MT4, you can adjust the Volume field to close only part of your open position. Then click on the Close button.

Still a MAJOR PROBLEM ON PARTIAL PROFITs. If i select take profit in mt4 even for the first order ("the oldeste one"), the take profit level is automatically assigned also to positions that were opened after the first order. THIS IS EVEN MORE RESTRICTIVE THAN FIFO RULE WAS INTENDED.

If the "take profit" or "stop loss" is assigned to the initial trade the subsequent trades SHOULD NOT BE AFFECTED.

Can this issue be fixed on FXCM MT4 platform ? Thank you.
Once A Trader Always A Trader.
  • #315
  • Nov 12, 2014 4:55pm Nov 12, 2014 4:55pm
Quoting Jason Rogers
{quote} "off quotes" Jason
their is a reason I never received these errors at IBFX. "ERR_OFF_QUOTES" or "ERR_REQUOTE" or "ERR_PRICE_CHANGED" these are all trade sever errors and not customer errors
  • #316
  • Edited 5:29pm Nov 12, 2014 5:11pm | Edited 5:29pm
GRR. Jason you do not seem 2 understand. If I send a order what happens? What does it do?
1. leaves my terminal
2. goes 2 FXCM
3. Heads to liquidity providers you have agreements with
4. you promise 2 route to the best one
5. it is the requoted or off quoted or price changed
re quote by bank we will not honor said price
Price changed they already moved the price some place else

6. Customers like me. .. Gets a error. Why? you should re route the order . Meta trader is a Fill at this price or Kill it. Send it some place else. Like another bank. How many banks do you think are clustered around the deviation in price? If I use that with a FILL OR KILL order what is the net effect.? I can tell you at IBFX this went to another bank at FXCM it does not. Do you understand now?

You know what allow me direct access to the Banks and I will catch the "ERR_OFF_QUOTES" or "ERR_REQUOTE" or "ERR_PRICE_CHANGED" and send it to the bank I want. FXCM is sloppy in two parts. One Not routeing these Fill or Kill orders and two ( another topic) not posting a ERR_INVALID_STOPS when you are entering a FIFO Trade . All of these errors are server based errors. Now IBFX was able to deal with this internally and you blame metatrader. For Fill or Kills and how they work FIFO......... Why not find a solution and who cares who is at fault.
  • #317
  • Nov 12, 2014 5:44pm Nov 12, 2014 5:44pm
Jeff you getting this only during high vol/news periods, or also during regular periods?
  • #318
  • Edited 6:01pm Nov 12, 2014 5:47pm | Edited 6:01pm
Quoting shrike
Jeff you getting this only during high vol/news periods, or also during regular periods?
Both times of Day and in auto and non Auto trading. But I am trading very actively on break outs. (less than 1 percent of Trades but at major levels on a break out to dry up the liquidate provider stinks)
  • #319
  • Nov 13, 2014 11:40am Nov 13, 2014 11:40am
Quoting Liviu
{quote} Still a MAJOR PROBLEM ON PARTIAL PROFITs. If i select take profit in mt4 even for the first order ("the oldeste one"), the take profit level is automatically assigned also to positions that were opened after the first order. THIS IS EVEN MORE RESTRICTIVE THAN FIFO RULE WAS INTENDED. If the "take profit" or "stop loss" is assigned to the initial trade the subsequent trades SHOULD NOT BE AFFECTED. Can this issue be fixed on FXCM MT4 platform ? Thank you.
Hi Liviu,

While that's a limitation of using the MT4 platform on FIFO-compliant US accounts (non-US accounts with FXCM are not affected), there are 2 solutions for US traders:

  1. There's a free Expert Advisor on FXCMapps.com that will allow you to create multiple stop losses and take profits on your US MT4 account: http://bit.ly/1wXKHsE
  2. Alternatively, you can use your login details to access Trading Station, and place multiple stops and limits on your US account that way: http://bit.ly/16wW9uc

  • #320
  • Nov 13, 2014 11:46am Nov 13, 2014 11:46am
Quoting Jeff Crystal
GRR. Jason you do not seem 2 understand.
Hi Jeff,

If I have misunderstood anything you said then I apologize. That's why I want to clarify the details related to when you receive "off quotes" messages on your MT4 platform, because there are no requotes with FXCM. For starters, what is your Maximum Deviation setting and what currency pairs are you trading?

Thanks,
Jason
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