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FXCM MT4 Good/Bad vs IBFX?

  • #321
  • Nov 13, 2014 4:55pm Nov 13, 2014 4:55pm
Quoting Jason Rogers
{quote} 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: 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 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
Hi Jason,
Thank you for your suggestion and I appreciate your intent to help.

I tried TradeStation web version -same issues. Again, once a SL/TP, regardless on what order place ALL the orders (both prior and after) are affected automatically. this is not the intent of FIFO rule and i should be able to place a SL/TP on the first order without affecting the orders placed later. i have not tried the app yet, but i see no good reason why i should have the computer open at all times to run the app. I think the way FIFO rule was implemented on MT4 shows poor programming at least unless was implemented deliberately this way -in the detriment of the traders. I can not reach other conclusions at this point .
Once A Trader Always A Trader.
  • #322
  • Edited 3:14am Nov 14, 2014 2:57am | Edited 3:14am
Quoting Jason Rogers
{quote} 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
Jason can we go though this slow. if I send in a Fill or Kill with a Maximum Deviation. then I have sent in a Limit best Ask Order. This Means that if the Market moves above this it will not will but will allow the Market order up 2 this price. Ok I know you agree with that statement. So here in is the Issue. Below is the definition of errors provided by Metatrader with in their documentation

scenario one: The dreaded "ERR_REQUOTE"
The price has changed

"The requested price has become out of date or bid and ask prices have been mixed up. The data can be refreshed without any delay using the RefreshRates function and make a retry. If the error does not disappear, all attempts to trade must be stopped, the program logic must be changed."

scenario Two: The dreaded "ERR_OFF_QUOTES"
"ERR_OFF_QUOTES 136 No quotes. The broker has not supplied with prices or refused, for any reason (for example, no prices at the session start, unconfirmed prices, fast market). After 5-second (or more) delay, it is necessary to refresh data using the RefreshRates function and make a retry."

scenario Three: The dreaded "ERR_PRICE_CHANGED"
"ERR_PRICE_CHANGED 135 The price has changed. The data can be refreshed without any delay using the RefreshRates function and make a retry."

With all of these three errors you send the order back 2 me the trader to deal with. Why? If you have other banks / liquidity providers on the bid at that time. Why do you not catch the order and reprocess at another liquidity providers or bank. now you are telling me to widen the deviation in price. Why? So I can insure slippage with the liquidity provider the order was sent too. I hope we are finally on the same page with this.. The Point is this it does not have to be this way . ....... Go look at IBFX and see how they dealt with this. I can provide you the Name and number of the developers that fixed these problems? All three errors can be fixed by placing the order with another liquidity provider.

Now your Bid and ask Quotes that I trade on Do not link to the liquidity provider I may or may not be sent to. This causes part of the error. But that you can not fix.


So Here is a list of issue that are giving me grief.

One FXCM not re processing the orders with the errors above
Two. FiFO. IBFX was using Netting on the back end. ( Also I dislike that you move stops with out saying so. This I found totally Shocking In 22 years of trading I have never ever had some one move my stop and not tell me )

Three. I asked Multi times for too tech support and publicly How long I need too wait after a order modify order close or order open for a return from the server. With a error or a confirm. No good anwer.
  • #323
  • Nov 14, 2014 3:05am Nov 14, 2014 3:05am
Quoting Liviu
{quote} Hi Jason, Thank you for your suggestion and I appreciate your intent to help. I tried TradeStation web version -same issues. Again, once a SL/TP, regardless on what order place ALL the orders (both prior and after) are affected automatically. this is not the intent of FIFO rule and i should be able to place a SL/TP on the first order without affecting the orders placed later. i have not tried the app yet, but i see no good reason why i should have the computer open at all times to run the app. I think the way FIFO rule was implemented on...
google Netting Metatrader. Their are work around's. I took it for granted that . IBFX servers and technology would be used and it is not. netting is provided with in metatrader five
"
3.1. Net Positions. The so-called "netted" accounting of positions is adopted in the MetaTrader 5, which meets the requirements of all modern exchanges. The meaning of netting is that, for one financial instrument, only one position can exist at any given time. Differently directed positions (buy and sell) are not allowed.
Thus, if you have a position to buy one lot of a financial instrument and sell one lot of this instrument, the position will be closed. If you have a position to buy one lot of a financial instrument and buy one more lot, you will have one position of two lots. In this case, the open price is re-calculated; a weighted-average open price is calculated for the position: (Price of the first deal * Volume of the first deal + Price of the second deal * Volume of the second deal) / (Volume of the first deal + Volume of the second deal)."

When i get time I will make some code or have some one make it and post it publicly. I hope when Dodd and Frank meet Charon they have no coins to pay.
  • #324
  • Nov 14, 2014 5:25am Nov 14, 2014 5:25am
Hi Jeff,
Thanks for the advice. FXCM does not offer MT5 I think and there are no reliable brokers for MT5 platform. my issue is the way FIFO rule was implemented on MT4 is detrimental to customers. I do not really know about programming, but placing a stop or take profit on the first order (FI) should only affect this first order (FO), and not the subsequent orders (that were placed and became active later in time) -which is happening with this implementation. it is wrong and it wipes out all positions regardless, which is BEYOUND FIFO Scope.
Hope that Charon will not only ask Dodd and Frank for coins, but also to became profitable traders under their FIFO rule for 10 years before he will let them pass the river.
Once A Trader Always A Trader.
  • #325
  • Nov 14, 2014 5:42am Nov 14, 2014 5:42am
Quoting Jeff Crystal
Also I dislike that you move stops with out saying so..
//-----
Quoting hayseed
any ea or script that has a high gettickcount() will die on fxcm's platform unless you code intensely to pre-avoid for those errors..... you must first avoid the errors on your end and then send the order..... make use to the point of abuse, refreshrates() and check for bool below..... then send the order.......h if(MarketInfo(Symbol(),MODE_ASK) < MarketInfo(Symbol(),MODE_BID)) //------
//-----

hey jeff..... once it began honoring the fifo rule, ibfx's platform moved/changed stops in the same manner......

it should take less than 1 second to modify an order and receive a journal reply, or at least it does for me..... of course it depends on the code used...... it's common for me to modify a dozen in one whack and receive confirmation in under 10 seconds several times a day......

ibfx's platform would lock up when i was testing for an infallible way of closing multiple orders under fifo's rule..... people might be quick to say that's easy..... it's not if your trying to close dozens and dozens.....

fxcm's platform just kicks off the script thereby avoiding the lockup...... not sure how it does that but it does......h
to trade and code, keep both simple... no call to impress....h
  • #326
  • Nov 14, 2014 10:02am Nov 14, 2014 10:02am
Quoting hayseed
{quote} //----- {quote} //----- hey jeff..... once it began honoring the fifo rule, ibfx's platform moved/changed stops in the same manner...... it should take less than 1 second to modify an order and receive a journal reply, or at least it does for me..... of course it depends on the code used...... it's common for me to modify a dozen in one whack and receive confirmation in under 10 seconds several times a day...... ibfx's platform would lock up when i was testing for an infallible way of closing multiple orders under fifo's rule..... people...
I had been trading non american accounts. So if that is the Case I would be equally Pissed. I just can not seem 2 process how it is allowable 2 set a stop then just poof change it
  • #327
  • Nov 14, 2014 10:03am Nov 14, 2014 10:03am
Quoting hayseed
{quote} //----- {quote} //----- hey jeff..... once it began honoring the fifo rule, ibfx's platform moved/changed stops in the same manner...... it should take less than 1 second to modify an order and receive a journal reply, or at least it does for me..... of course it depends on the code used...... it's common for me to modify a dozen in one whack and receive confirmation in under 10 seconds several times a day...... ibfx's platform would lock up when i was testing for an infallible way of closing multiple orders under fifo's rule..... people...
No it is not easy I am trying to make one of these now
  • #328
  • Nov 14, 2014 10:06am Nov 14, 2014 10:06am
Quoting hayseed
{quote} //----- {quote} //----- hey jeff..... once it began honoring the fifo rule, ibfx's platform moved/changed stops in the same manner...... it should take less than 1 second to modify an order and receive a journal reply, or at least it does for me..... of course it depends on the code used...... it's common for me to modify a dozen in one whack and receive confirmation in under 10 seconds several times a day...... ibfx's platform would lock up when i was testing for an infallible way of closing multiple orders under fifo's rule..... people...
This I was able to fix. I was just irked that support could not give a clear cut answer .
  • #329
  • Nov 17, 2014 6:05pm Nov 17, 2014 6:05pm
Quoting Liviu
{quote} Hi Jason, Thank you for your suggestion and I appreciate your intent to help. I tried TradeStation web version -same issues. Again, once a SL/TP, regardless on what order place ALL the orders (both prior and after) are affected automatically. this is not the intent of FIFO rule and i should be able to place a SL/TP on the first order without affecting the orders placed later. i have not tried the app yet, but i see no good reason why i should have the computer open at all times to run the app. I think the way FIFO rule was implemented on...
Quoting Liviu
Hi Jeff, Thanks for the advice. FXCM does not offer MT5 I think and there are no reliable brokers for MT5 platform. my issue is the way FIFO rule was implemented on MT4 is detrimental to customers. I do not really know about programming, but placing a stop or take profit on the first order (FI) should only affect this first order (FO), and not the subsequent orders (that were placed and became active later in time) -which is happening with this implementation. it is wrong and it wipes out all positions regardless, which is BEYOUND FIFO Scope. Hope...
Hi Liviu,

I responded to your questions in the main FXCM discussion thread: http://www.forexfactory.com/showthre...62#post7878262
  • #330
  • Nov 17, 2014 6:26pm Nov 17, 2014 6:26pm
Quoting Jeff Crystal
now you are telling me to widen the deviation in price. Why? So I can insure slippage with the liquidity provider the order was sent too. I hope we are finally on the same page with this..
Hi Jeff,

There still seems to be a misunderstanding. Regardless of the Maximum Deviation you set on your FXCM MT4 platform, your order will be filled at the best price available from among 10+ competing liquidity providers on our No Dealing Desk (NDD) forex execution, unless that price would result in negative slippage greater than your Maximum Deviation tolerance. Furthermore, FXCM enhanced how Maximum Deviation works on our MT4 platform so that it only limits your negative slippage, not your positive slippage. That's reflected in 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.

  • #331
  • Nov 17, 2014 6:58pm Nov 17, 2014 6:58pm
Quoting Jason Rogers
{quote} 53.32% of all stop and stop entry orders received negative slippage.
thats why i need stop limit orders, 90% of my trades are stop entry orders, tradestation forex and mb trading are the only retail broker that offer this type of order im sure FXCM can also
  • #332
  • Nov 18, 2014 2:26pm Nov 18, 2014 2:26pm
Jason,

Would you please tell us when FXCM is going to fix their charts???

I am watching UJ now and it has a variable spread from around 0.2 pips to 1 pip in Market Watch, but a 3+ pip spread on the charts using the "1 Click Trading" tool.

You mentioned the reason this has not been fixed yet was because of US-Client rollovers, but US clients have been acquired for at least 3-4 weeks now, and it seems a bit ridiculous that this is STILL an issue.

I am a programmer and I know this does not require a lot of work or coding to fix. What's the deal, and WHEN is this going to be fixed?!
Please check out my blog at https://from-zero-to-hero . net
  • #333
  • Edited 5:38pm Nov 18, 2014 2:35pm | Edited 5:38pm
Quoting smash1820
Jason, Would you please tell us when FXCM is going to fix their charts??? I am watching UJ now and it has a variable spread from around 0.2 pips to 1 pip in Market Watch, but a 3+ pip spread on the charts using the "1 Click Trading" tool. You mentioned the reason this has not been fixed yet was because of US-Client rollovers, but US clients have been acquired for at least 3-4 weeks now, and it seems a bit ridiculous that this is STILL an issue. I am a programmer and I know this does not require a lot of work or coding to fix. What's the deal, and...
Also, Jason, your response to the following videos would be appreciated, as I'd like to hear your thoughts on FXCM's claim to be a "no dealing desk" broker.

Honestly, I have begun to notice some very fishy things going on here with FXCM... and it does not make me happy...

Like, for example, how my positions that are in profit are closed AUTOMATICALLY without me requesting them to be closed... etc, etc, etc...

Also, what do you have to say about why FXCM bans members that are too profitable? I'd like to hear your thoughts on that too. Please don't tell me "FXCM doesn't do that", because IF you say anything like that, I will personally bring one of those members to this thread myself (who has been banned from you guys, FXCM), so that (s)he can dismantle some of the inaccurate claims that FXCM throws out.

Inserted Video


and

Inserted Video
Please check out my blog at https://from-zero-to-hero . net
  • #334
  • Nov 18, 2014 3:48pm Nov 18, 2014 3:48pm
Quoting smash1820
{quote} Also, Jason, your response to the following videos would be appreciated, as I'd like to hear your thoughts on FXCM's claim to be a "no dealing desk" broker. Honestly, I have begun to notice some very fishy things going on here with FXCM... and it does not make me happy... Like, for example, how my positions that are in profit are closed AUTOMATICALLY without me requesting them to be closed... etc, etc, etc... Also, what do you have to say about why FXCM bans members that are too profitable? I'd like to hear your thoughts on that too. And...
old news
  • #335
  • Edited 5:37pm Nov 18, 2014 3:51pm | Edited 5:37pm
Quoting PoundTrader
old news
I don't care if it's old news, I want to hear a response from Jason Rogers.

I know FXCM has already been scamming people for a while, so it'd be interesting to hear what he will say about this... that is, if he says anything at all.

If Jason Rogers (now I understand why he can't or doesn't use his real name) responds, I imagine it will be more of the typical MM BS, which is why I am prepared to fight back on this one, should something be said that is untruthful or out of line or context.
Please check out my blog at https://from-zero-to-hero . net
  • #336
  • Nov 18, 2014 5:57pm Nov 18, 2014 5:57pm
Quoting PoundTrader
{quote} thats why i need stop limit orders, 90% of my trades are stop entry orders
Since 90% of your trades are stop entry orders, I can appreciate your desire for stop limit orders. Should this feature be added to Trading Station, you'll be the first person I tell.
  • #337
  • Nov 18, 2014 6:21pm Nov 18, 2014 6:21pm
Quoting smash1820
Jason, Would you please tell us when FXCM is going to fix their charts??? I am watching UJ now and it has a variable spread from around 0.2 pips to 1 pip in Market Watch, but a 3+ pip spread on the charts using the "1 Click Trading" tool. You mentioned the reason this has not been fixed yet was because of US-Client rollovers, but US clients have been acquired for at least 3-4 weeks now, and it seems a bit ridiculous that this is STILL an issue. I am a programmer and I know this does not require a lot of work or coding to fix. What's the deal, and...
Hi Smash1820,

There seems to be a misunderstanding here about exactly why MT4 charts still show our old pricing (where the spreads included a fixed markup), even though your account is already trading on our new pricing with raw FX spreads and commissions. I never said the holdup was because of "US-Client rollovers". It's important to understand that MT4 has a limitation in that it can only display one pricing model per server, and FXCM has thousands of clients around the world on each of our MT4 servers.

While all US clients have already been upgraded to our new pricing model, clients in other countries are still in the process of being transitioned. The transition to our new pricing 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. For example, traders in Canada are under IIROC regulations and are only now being transitioned to the new pricing.

I will let you know, just as soon as I have a solution for you regarding your MT4 charts. In the meantime, note that other platforms such as Trading Station and NinjaTrader do not have this same charting limitation as MT4. In fact, your account login details will allow you to access Trading Station and view charts that show our raw FX spreads.

However, if you are married to MT4, then you may be interested in a workaround I mentioned in the main FXCM discussion thread. Since the old pricing used fixed markups instead of commissions, you can subtract that fixed amount from the chart price to determine the raw FX spreads: http://www.forexfactory.com/showthre...08#post7878308
  • #338
  • Nov 18, 2014 6:38pm Nov 18, 2014 6:38pm
Quoting smash1820
{quote} Also, Jason, your response to the following videos would be appreciated, as I'd like to hear your thoughts on FXCM's claim to be a "no dealing desk" broker.
I had never seen that first video you posted. Thanks for sharing it.

The presenter does a good job of outlining both the potential conflicts of interest that can exist with dealing desk execution, and of the advantages of No Dealing Desk (NDD) forex execution such as that offered by FXCM.

As PoundTrader said, the second video you posted is old news. Here's a link to my response when someone else asked about it over a year ago: http://www.forexfactory.com/showthre...21#post6890321
  • #339
  • Nov 18, 2014 6:59pm Nov 18, 2014 6:59pm
Quoting smash1820
Honestly, I have begun to notice some very fishy things going on here with FXCM... and it does not make me happy... Like, for example, how my positions that are in profit are closed AUTOMATICALLY without me requesting them to be closed... etc, etc, etc...
In the spirit of honesty, please refrain from innuendo and instead post facts about these trades, so I can investigate what happened. In the meantime, please consider how your accusation that we closed your profitable trades automatically would contradict your accusation that we don't offer you NDD forex execution. Otherwise, why would a dealing desk broker want you to lock in profits?


Quoting smash1820
Also, what do you have to say about why FXCM bans members that are too profitable? I'd like to hear your thoughts on that too.
FXCM does not ban traders for being too profitable. Whether you win or lose, FXCM makes the same amount of money on our NDD model. Profitable traders are our best clients because they generate more trading volume for us in the long run.


Quoting smash1820
Please don't tell me "FXCM doesn't do that", because IF you say anything like that, I will personally bring one of those members to this thread myself (who has been banned from you guys, FXCM), so that (s)he can dismantle some of the inaccurate claims that FXCM throws out.
Please invite your friend here, and I will respond to you both.
  • #340
  • Nov 18, 2014 9:59pm Nov 18, 2014 9:59pm
Quoting smash1820
...watching UJ now and it has a variable spread from around 0.2 pips to 1 pip in Market Watch, but a 3+ pip spread on the charts using the "1 Click Trading" tool...
This is not UJ, but as you can see the price in the Market Watch is the same as on the "1 Click Trading" tool.

Jason, I do not envy you with regard to your job... I would be more like this ----->
Attached Image
Mark ... Everything you have been told is a LIE
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