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FXCM Discussion

  • #5,461
  • Nov 19, 2014 1:06pm Nov 19, 2014 1:06pm
Hi, I was using fxcm trading station where you trade at £ per pip (in the UK).

Now I am using fxcm MT4 and traders are % risk or lot size.

So, my question is this - is there an easy was to know what 1 lot size trades at £ per pip?

Or an easy way to know what say 10% risk is at £ per pip?

Is this the same on different currency pairs?

I know there must be an easy answer, I just havent found it yet!

Thaks for your help.
  • #5,462
  • Nov 19, 2014 1:28pm Nov 19, 2014 1:28pm
Quoting Mingary
Hi Jason, If FXCM has revenues of about 50,000,000 USD per month on commission and spread, does the "composite trader" - i.e. the sum of all acounts - make at least this much to cover spread and commission ? Our composite trader would have to make 50,000,000 per month just to break even, does that really happen? And if so what is the amount that is actually lost / gained per month in our "composite trader" account ?
Hi Mingary,

I don't have access to that information, but since we are a publicly-traded company (NYSE ticker: FXCM) our financial data including monthly, quarterly and annual reports can viewed on our Investor Relations website: http://bit.ly/ZOCB0Y

To clarify, with our raw FX spread pricing, the spread cost you pay does not go to FXCM, but to the 10+ competing liquidity providers quoting prices on our No Dealing Desk (NDD) forex execution. We make our money from the commission, not the spread, similarly to how it would work if you traded futures or equities, so your questions would apply equally to brokers in those markets like E*TRADE or Charles Schwab.
  • #5,463
  • Nov 19, 2014 2:24pm Nov 19, 2014 2:24pm
Quoting Jason Rogers
{quote} {quote} Hi Liviu, While you may never have used to term OCO (One Cancels Other) in relation to using stop and limit (take profit) orders, the fact is that if your limit (take profit) order for a trade is executed, then you would want the corresponding stop order to be canceled. That means your stop and limit orders have an OCO relationship with each other. FXCM clients who live outside the US are not restricted by FIFO regulations, so they are allowed to create and modify stops and limits that are tied to a specific trade (order). However,...

Jason thank you for taking the time to post all this info, it should help other people too.
Once A Trader Always A Trader.
  • #5,464
  • Nov 19, 2014 2:30pm Nov 19, 2014 2:30pm
I feel bad for Jason

Everyday he has to deal with bad traders blaming their constant losses on FXCM
God bless you, I wouldn't have the patience
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  • #5,465
  • Nov 19, 2014 3:53pm Nov 19, 2014 3:53pm
Quoting Acroix70
I feel bad for Jason Everyday he has to deal with bad traders blaming their constant losses on FXCM God bless you, I wouldn't have the patience {image}
Agree
  • #5,466
  • Nov 19, 2014 9:27pm Nov 19, 2014 9:27pm
Quoting Jason Rogers
{quote} {quote} Hi Tom, So that I can troubleshoot the issues you are having, please provide me with the following details: Are you trading on a live account or a demo account? Which MT4 server are you using? (You can see this in the Login window.) What is your Maximum Deviation setting? (Note that 1 point on Max Dev equates to 0.1 pips.) Thanks, Jason
I changed Maximum Deviation setting from 10 to 30 and everything is working fine so far. Thank you Jason.
  • #5,467
  • Nov 19, 2014 10:12pm Nov 19, 2014 10:12pm
Quoting Acroix70
I feel bad for Jason Everyday he has to deal with bad traders blaming their constant losses on FXCM God bless you, I wouldn't have the patience {image}
  • #5,468
  • Edited Nov 20, 2014 12:37am Nov 19, 2014 11:38pm | Edited Nov 20, 2014 12:37am
Quoting Jason Rogers
{quote} Hi Mingary, I don't have access to that information, but since we are a publicly-traded company (NYSE ticker: FXCM) our financial data including monthly, quarterly and annual reports can viewed on our Investor Relations website: http://bit.ly/ZOCB0Y To clarify, with our raw FX spread pricing, the spread cost you pay does not go to FXCM, but to the 10+ competing liquidity providers quoting prices on our No Dealing Desk (NDD) forex execution. We make our money from the commission, not the spread, similarly to how it would work if...
ok.. so 50,000,000 per month in commission, thanks for the clarification.
I thought I would ask. For obvious reasons the information I am looking for is not available to the public. No broker in his right mind will officially provide this info.
The most controversial question that a forex broker should answer: every month, do all the accounts combined at least cover the commission and spread ?


Thanks.
  • #5,469
  • Nov 20, 2014 1:03am Nov 20, 2014 1:03am
Quoting Acroix70
I feel bad for Jason Everyday he has to deal with bad traders blaming their constant losses on FXCM God bless you, I wouldn't have the patience {image}
Jason Rogers (real name unknown), is a pro and I wouldn't expect anything less. I wish him a great holiday season and I thank him for the great help in getting all my IBFX transfer/account issues fixed...
  • #5,470
  • Nov 21, 2014 6:35am Nov 21, 2014 6:35am
hi Jason, could you explain what is the reason for FXCM to close one account? I can't confirm this information is Real or fake, but I can't trust a broker close customer account because he made profits.
http://www.forexpeacearmy.com/forex-...-too-fast.html
  • #5,471
  • Edited 7:58am Nov 21, 2014 7:08am | Edited 7:58am
Quoting Abcxyz77
hi Jason, could you explain what is the reason for FXCM to close one account? I can't confirm this information is Real or fake, but I can't trust a broker close customer account because he made profits. http://www.forexpeacearmy.com/forex-...-too-fast.html
Over 100 trades and 0 losses! do you really believe that? Must be the best trader in the world.

ABCXYZ you are all over these broker threads thinking that all brokers are out to steal your money. The fact is that if you go with a regulated STP/ECN broker the chances are that you are not going to loose any money due to their negligence but only due to poor trading. The majority of these complaints time and again have been proven to be the fault of the "trader" and I am only talking about in this thread. Example member 4xTom crying like a girl a few posts back only to come back and say thanks Jason everything is fine now.

If you put as much energy into trading as you do writing comments about brokers out to get you, perhaps you could be a really good trader
  • #5,472
  • Nov 21, 2014 10:11am Nov 21, 2014 10:11am
Quoting Abcxyz77
hi Jason, could you explain what is the reason for FXCM to close one account? I can't confirm this information is Real or fake, but I can't trust a broker close customer account because he made profits.
Hi Abcxyz77,

While I cannot comment on that case specifically, I can say that an account could be closed for any number of reasons. A client being profitable is not one of those reasons. Just two days ago one of our clients posted in this thread about withdrawing 20K in profits from his account: http://www.forexfactory.com/showthre...98#post7883598

FXCM offers traders No Dealing Desk (NDD) forex execution, which means we offset each client order one-for-one with the best prices quoted from among 10+ competing liquidity providers. We make our money from client trading volume, not client losses. This business model means that profitable traders are our best clients.
  • #5,473
  • Nov 21, 2014 10:15am Nov 21, 2014 10:15am
reports running ok online?
  • #5,474
  • Nov 21, 2014 10:21am Nov 21, 2014 10:21am
Quoting Liviu
{quote} Jason thank you for taking the time to post all this info, it should help other people too.
It's my pleasure, Liviu
  • #5,475
  • Nov 21, 2014 10:23am Nov 21, 2014 10:23am
Quoting pmmebids
reports running ok online?
Hi Ppmebids,

Welcome to the forum!

I just checked my Trading Station now and was able to run a report successfully. If you are having any difficulty running reports, please tell me details about the problem.

Thanks,
Jason
  • #5,476
  • Nov 21, 2014 10:26am Nov 21, 2014 10:26am
Quoting Jason Rogers
{quote} Hi Ppmebids, Welcome to the forum! I just checked my Trading Station now and was able to run a report successfully. If you are having any difficulty running reports, please tell me details about the problem. Thanks, Jason
how about online on myfxcm? i.e. statement summary
  • #5,477
  • Nov 21, 2014 10:33am Nov 21, 2014 10:33am
Quoting pmmebids
{quote} how about online on myfxcm? i.e. statement summary
Yes, I was able to view a statement summary on MyFXCM.com just now. Do you know how to clear the cache/delete temporary internet files on your web browser? If so, please try that and they try running reports. If not, then please tell me what web browser you use, and I will provide you with instructions to clear your internet cache.
  • #5,478
  • Nov 21, 2014 11:13am Nov 21, 2014 11:13am
Quoting Jason Rogers
{quote} Yes, I was able to view a statement summary on MyFXCM.com just now. Do you know how to clear the cache/delete temporary internet files on your web browser? If so, please try that and they try running reports. If not, then please tell me what web browser you use, and I will provide you with instructions to clear your internet cache.
tried on separate PCs, so its a no go..
  • #5,479
  • Edited 11:42am Nov 21, 2014 11:27am | Edited 11:42am
Quoting pmmebids
{quote} tried on separate PCs, so its a no go..
Hi Pmmebids,

Please send me a private message and include your email address. With that information I can check to see if I can run a statement summary for your account on my end, and check if there are any issues. Also, please let me know what time period you want the statement for and I can email you a copy.

Thanks,
Jason
  • #5,480
  • Nov 21, 2014 11:31am Nov 21, 2014 11:31am
Quoting Jason Rogers
{quote} Hi Jason Please send me a private message and include your email address. With that information I can check to see if I can run a statement summary for your account on my end, and check if there are any issues. Also, please let me know what time period you want the statement for and I can email you a copy. Thanks, Jason
Haha, you said Hi Jason.. (Friday after all)


please to tell that it worked a bit earlier.

Thanks
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