FXCM Discussion | Page 279 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/JPY

Similar Threads

FXCM with Sierra Charts - Discussion and alternatives 8 replies

Elliott Waves discussion 4 replies

FXCM gets another CFTC fine, while Drew Niv leaves FXCM UK board 17 replies

Euro/Dollar discussion 9 replies

Forward Testing Discussion Thread 241 replies

Attachments: FXCM Discussion
Exit Attachments

FXCM Discussion

  • #5,561
  • Dec 5, 2014 2:28pm Dec 5, 2014 2:28pm
Quoting maind00d
So here is another experience with FXCM Last month : Leverage 400:1 my equity 1098 I put sell stop on NFP on USDCAD with 3 Whole lots which takes 750 margin at that time . I got filled (offcourse after slippage) trade went my way but instantly FXCM ended my entry giving me margin call (totally impossible) as I had 348$ free margin and even if spread was widened it could not have been wider then 10 pips that is 300$ on my 3 lots plus keep in mind that entry was already 10 pips in profit which give 648$ free margin. I talked to their trade audit but...
Trying to straddle with any broker on NFP is pure stupid! You'll be cleaned out either way
  • #5,562
  • Dec 8, 2014 11:50am Dec 8, 2014 11:50am
Quoting sleepypipCDN
Well it's been several years now actually since I attempted to trade fx. Back in 2008 I had an account with FXCM's UK division, and after I saw the blatant manipulating that was going on like requotes when trying to close a profitable position, I just walked away from it. But now I see they have arrived in Canada and partnered with this Friedberg Direct for credibility. That's nice that my funds are held somewhere and protected blah blah, but I'm wondering if FXCM is still doing their old tricks. They claim they are new and improved and see the...
Hi SleepypipCDN,

Friedberg Direct (www.fxcm.ca) allows traders in Canada to benefit from local regulation by IIROC and CIPF insurance for up to $1 million per client, and gives them access to the same No Dealing Desk (NDD) forex execution that's available to FXCM clients worldwide. In regards to the account opening minimum, it's 2k for most FXCM entities worldwide. However, Friedberg Direct set their own minimum at 5k for traders in Canada.

There are no requotes with FXCM, because there is no benefit to us requoting you on our NDD model. Each of your orders is offset one-for-one with the best prices from 10+ competing liquidity providers. That means we don't take the market risk on the other side of your trades. FXCM doesn't profit from your losses, or lose from your profits. We make our money from your trading volume, so we would love for all for your orders to be executed.

That said, there are are certain valid reasons why you might receive an "off quotes" message on our MT4 platform, but those are designed to protect you, not us. (Remember, we would love for all your order to be executed, because we make our money off your trading volume.) I explain this in more detail here: http://www.forexfactory.com/showthre...44#post7872944

Here is a post where another trader acknowledged that what he initially thought were requotes turned out not to be: http://www.forexfactory.com/showthre...38#post7818138

Also, we recently learned from MetaQuotes (the creators of MT4) that if you try placing a trade on negative spreads using the platform, then you will get a false requote message, but that is not FXCM requoting you. That error message is hardwired into the MT4 itself. That means, if you wish to take advantage of the negative spreads that sometimes appear with our new raw FX spreads, you will have to use one of the other platforms we offer such as Trading Station or NinjaTrader.
  • #5,563
  • Edited 12:48pm Dec 8, 2014 12:11pm | Edited 12:48pm
Quoting profitfarmer
Jason, my FXCM demo clearly lagged, both the time stamp of the candle, as well as the price...at some point 5-10 min! and 20+ pips....vs. my live ( not FXCM) account. EU, GJ, others didn't have interest in the time, but guess it was all over the board. The system had the right price at the underlying order entry, and that was not the price shown on the order screen...thus ended up with that bunch of off quotes and requites. I use the USDdemo1.
Hi Profitfarmer,

Thanks for providing the additional details I requested to help me troubleshoot your demo issue.

What strikes me about your description of the problem is that you say this issue exists even outside of news trading events, which makes me think of another possible reason for the lag you experienced on your demo. I notice your forum profile mentions that you live in Thailand. FXCM's MT4 servers are located in the US. That means information traveling between the demo server and your MT4 terminal have to cross a greater difference than for traders living in the US.

Have you considered using a Virtual Private Server (VPS) instead? Running your MT4 platform on a VPS that's co-located with our MT4 servers would be like placing orders from a computer right next door.
  • #5,564
  • Dec 8, 2014 1:27pm Dec 8, 2014 1:27pm
Quoting Cobra
{quote} Jason With all respect I fail to see what the 'additional info" will do to change this.
Hi Gerhard,

While I can appreciate your frustration, the information you provide us can help to narrow down possible causes of the issues you are facing with your demo account. You mentioned that you have been working with my colleague Mohamed. I followed up with him, and he would like to troubleshoot this demo issue with you over the phone. However, he still has your old number. If you send me a private message with your new number in South Africa, Mohamed can call you at the time of your convenience.
  • #5,565
  • Dec 8, 2014 1:42pm Dec 8, 2014 1:42pm
Quoting traderathome
{quote} FXCM: Removes Data and Alters Data from the MT4 it Provides to Retail Clients To Whom It May Concern at FXCM: You are screwing with the new MT4 platform even more than you did the previous one (before instating ECN type spreads + commissions). Before, you prevented the swaps information from being available to the MT4 user thru the MQL4 "swaps" variables. Now, you have usurped the MQL4 "Bid" and "Ask" prices. Yes! The order tile bid price is not the bid shown on the chart of your rendition of MT4 for your clients! Only God and FXCM knows...
This issue has been addressed. If you do not care for this br0ker go somewhere else. Since becoming a client of FXCM with their new spread I have no complaints. Yes I was wary at first, but have no problems with them. Most of what people whine about is either minor or their own fault.
Mark ... Everything you have been told is a LIE
  • #5,566
  • Dec 8, 2014 1:47pm Dec 8, 2014 1:47pm
Quoting maind00d
So here is another experience with FXCM Last month : Leverage 400:1 my equity 1098 I put sell stop on NFP on USDCAD with 3 Whole lots which takes 750 margin at that time . I got filled (offcourse after slippage) trade went my way but instantly FXCM ended my entry giving me margin call (totally impossible) as I had 348$ free margin and even if spread was widened it could not have been wider then 10 pips that is 300$ on my 3 lots plus keep in mind that entry was already 10 pips in profit which give 648$ free margin. I talked to their trade audit but...
Quoting profitfarmer
{quote} not sure about FXCMs margin rules, but I know many ECN type account has 100/50% margin call/force close rule. so, first example, might be self inflicted, since you had only about 30% free margin left? kind a same second example, maybe. on top, at some news, slippage/liquidity at certain price might be a realistic issue. on a personal level, those news trades with such large lots relative to account balance, is a serious gamble!!
Quoting PoundTrader
{quote}bottom line if this guy getting margin calls he's over leveraging his trades
Quoting Makavell
{quote} Trying to straddle with any broker on NFP is pure stupid! You'll be cleaned out either way
Hi Maind00d,

While I cannot comment on your specific case, I will echo the sentiments expressed here by other traders that overleveraging your account can increase the chances of you getting a margin call particularly during a major news event like NFP.

You mentioned that the Trade Audit Committee has already reviewed your case and determined that your trades were closed due to a margin call when your equity fell below the minimum margin requirement. If you would like to dispute those findings, you have the option of escalating your case for appeal. The link for you do this was included in the email you received from the audit committee.
  • #5,567
  • Edited Dec 9, 2014 10:01am Dec 8, 2014 2:33pm | Edited Dec 9, 2014 10:01am
Quoting traderathome
{quote} FXCM: Furthermore, this Broker Removes Data and Alters Data from the MT4 it Provides to Retail Clients To Whom It May Concern at FXCM: You are screwing with the new MT4 platform even more than you did the previous one (before instating ECN type spreads + commissions). Before, you prevented the swaps information from being available to the MT4 user thru the MQL4 "swaps" variables. Now, you have usurped the MQL4 "Bid" and "Ask" prices. Yes! The order tile bid price is not the bid shown on the chart of your rendition of MT4 for your clients!...
Quoting spzd
{quote} This issue has been addressed. If you do not care for this br0ker go somewhere else. Since becoming a client of FXCM with their new spread I have no complaints. Yes I was wary at first, but have no problems with them. Most of what people whine about is either minor or their own fault.
Quoting traderathome
{quote} FXCM: Issues Still Remain..... spzd, I would not call it whining when being robbed of almost $20,000 in profits, after being given prices by FXCM, placing orders at those prices, and FXCM executing those orders at those prices,....and then FXCM refusing to pay to their retail client the profits those orders yielded their retail client! Whether or not you have no complaints at this time is not the issue. You, like all retail traders selecting to go with a broker, do not anticipate such skulduggery from them. But when it happens, as it has,...
Hi Traderathome,

To clarify what Spzd said, the difference you notice between your MT4 chart prices and the prices you see in the Market Watch window is due to our transition to a new raw FX spread pricing model. The examples below show how the new raw FX spread+commission pricing compares to the only spread-only pricing where a pip markup used to be included in the spread.

http://i.imgur.com/veY7pcE.png


Since you live in the US, your account has already been transitioned to the new model. However, the global 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, the transition for traders in Canada is being done now.

Unlike other trading platforms we offer like Trading Station and NinjaTrader, there is a limitation with MT4 that only allows one price model to be displayed on all charts, even though some traders are already on our new pricing while others are still on the old. While the Market Watch window displays the raw FX spreads you can already trade on, the MT4 charts still display the old pricing which includes the old pip markups in the spread.

I will post an update in this thread as soon as the MT4 chart feed has been updated to reflect our new pricing. In the meantime, it's worth noting that your MT4 account login details will also allow you to access Trading Station, and the charts on that platform already reflect the raw FX spreads available to you.
  • #5,568
  • Dec 8, 2014 3:30pm Dec 8, 2014 3:30pm
Quoting traderathome
{quote} FXCM: Issues Still Remain..... spzd, I would not call it whining when being robbed of almost $20,000 in profits, after being given prices by FXCM, placing orders at those prices, and FXCM executing those orders at those prices,....and then FXCM refusing to pay to their retail client the profits those orders yielded their retail client! Whether or not you have no complaints at this time is not the issue.
If you are referencing this then you have the wrong br0ker. And me not have any complaints with them is the only issue for me.
Attached Image
Mark ... Everything you have been told is a LIE
  • #5,569
  • Dec 8, 2014 3:50pm Dec 8, 2014 3:50pm
Quoting traderathome
That is a major cause for concern. -tah
Quoting spzd
{quote} If you are referencing this then you have the wrong br0ker. And me not have any complaints with them is the only issue for me. {image}
Hi Tah, as Spzd mentioned, that other discussion thread is about a different broker entirely.
  • #5,570
  • Dec 9, 2014 2:27am Dec 9, 2014 2:27am
Well Tah, if you check my posts (mainly on the other FXCM thread) you should realise that fxscm is not any where near my favourite broker

BUT I think the "... its a different broker..." comes from your post (copied to below) is about Forex.com not FXCM or even Capital Markets.
Just a little oops aye.

Keep up the good Sonic work though
cheers scalpz

Quoting traderathome
Beware of this Broker!... Robber Broker Alert!: Forex.com Sonicers, From time to time our brokers do things that disturb us. What has apparently happened to this trader with Forex.com is very disturbing: http://www.forexfactory.com/showthread.php?t=509987 This trader has provided much information, and his point of view is reasonable,....that he traded on the prices his Forex.com platform provided to him, made good profit, and then Forex.com stole it using a bunch of double talk about price latency arbitrage being in affect at...
But, as for the fxscm chart figures not matching the market tradeable figures, what a cluster f@(k. Not at all professional.

edit: oops, didn't find the option to keep all of your quote I posted
Target 2 : Stoploss in the green
  • #5,571
  • Edited 2:54am Dec 9, 2014 2:38am | Edited 2:54am
Quoting scalpz
Well Tah, if you check my posts (mainly on the other FXCM thread) you should realise that fxscm is not any where near my favourite broker BUT I think the "... its a different broker..." comes from your post (copied to below) is about Forex.com not FXCM or even Capital Markets. Just a little oops aye. Keep up the good Sonic work though cheers scalpz {quote} But, as for the fxscm chart figures not matching the market tradeable figures, what a cluster f@(k. Not at all professional. edit: oops, didn't find the option to keep all of your quote...
My Sincere Apology to FXCM and to Jason....

scalpz,

Yes, you are correct.

And I apologize to Jason and to FXCM for my outburst here. Why did I confuse the two brokers - Forex.com and FXCM - I am now trying to figure out! Fatigue? Possibly, but I do not want to hide behind an excuse. So, I repeat my apology to Jason and to FXCM.

I have removed the offending posts. But I do wish that FXCM would simply keep the commissions out of the Bid-Ask-Spread relationship and account for them separately as other similar brokers do. Not even the NYSE attempts to incorporate commissions into stock prices. I see no legitimate need for FXCM to attempt this distortion. That is a step towards less transparency for their clients and will probably become such a mess they will have to undo it in the end. And I do wish that FXCM would reinstate the swaps data to their MT4 platform where other similar brokers have kept it, along with commissions, again for convenient transparency for clients.

And I thank you scalpz for trying to wake me up! Thanks.

-tah
  • #5,572
  • Edited 5:53am Dec 9, 2014 5:03am | Edited 5:53am
Hi Jason,

Much thanks for the job you are doing up in here.

In August i became a Reffering Broker and much later a Money Manager..my Referring Broker Agreement entitled me to a 1 pip per round turn lot to any client i introduced..i was even allocated an RB Number..this was subsequently amended via an FXCM communication which i readily agreed to ..i also signed a separate Money Manager agreement and was allocated both a Merchant Account and Trading Agent Account.

I have subsequently traded largely until now when i wanted to withdraw funds which were both in either form of rebates and performance..i stand corrected in this court of opinion but if i sign on as RB and Money Manager then this are two separate agreements..right?..and i should be paid accordingly...they will be calculated separately where applicable? and paid separately..no qualification explicit or implied?..am i right Jason?

Any other trader with similar arrangement can also advise..am new to all this Cheers
Carpe Diem
  • #5,573
  • Dec 9, 2014 2:34pm Dec 9, 2014 2:34pm
Quoting scalpz
not FXCM or even Capital Markets. Just a little oops aye. Keep up the good Sonic work though cheers scalpz {quote} But, as for the fxscm chart figures not matching the market tradeable figures, what a cluster f@(k. Not at all professional. edit: oops, didn't find the option to keep all of your quote I posted
Hi Scalpz,

I know you're not our biggest fan and appreciate you taking the time to clarify for Tah that FXCM is not the broker mentioned in that other thread.

Quoting scalpz
But, as for the fxscm chart figures not matching the market tradeable figures, what a cluster f@(k. Not at all professional.
I apologize for the inconvenience the MT4 chart discrepancy has caused you. Progress is being made on this front, and I will post an update in this thread when the MT4 charts have been updated: http://www.forexfactory.com/showthre...06#post7929106
  • #5,574
  • Edited 4:40pm Dec 9, 2014 3:24pm | Edited 4:40pm
Quoting traderathome
{quote} My Sincere Apology to FXCM and to Jason.... scalpz, Yes, you are correct. And I apologize to Jason and to FXCM for my outburst here. Why did I confuse the two brokers
Hi Tah,

I appreciate you acknowledging that you had us confused with another broker in regards to that other thread you mentioned.

Quoting traderathome
But I do wish that FXCM would simply keep the commissions out of the Bid-Ask-Spread relationship and account for them separately as other similar brokers do. Not even the NYSE attempts to incorporate commissions into stock prices. I see no legitimate need for FXCM to attempt this distortion. That is a step towards less transparency for their clients and will probably become such a mess they will have to undo it in the end.
First, I want to say that I agree with you that our charts should display our raw FX spreads. Our goal in moving to a raw spread plus commission pricing model is to increase transparency. As I explained in my previous post to you, the charts on Trading Station (which you can access with your current login details) already reflect these spreads: http://bit.ly/1shNooZ

The wider spreads you see on your MT4 charts are not an attempt at distortion by us. Those charts reflect the old pricing model from which traders are being transitioned. For example, this weekend, traders in Canada will be switched from the old spread with markup pricing to the new raw FX spread plus commission pricing.

I will post an update in this thread when the MT4 charts have been updated to reflect our new pricing.

Quoting traderathome
And I do wish that FXCM would reinstate the swaps data to their MT4 platform where other similar brokers have kept it
While real-time swap rates are not currently available on the MT4 platform directly, it's worth noting that your MT4 account login also work on Trading Station allowing you to view the real-time swap rates on that platform listed as RollS (for short positions) and RollB (for long positions). Furthermore, FXCM offers desktop, web and mobile versions of the Trading Station platform. If you don't wish to download Trading Station Desktop, you can still view the swap rates using Trading Station Web for which no download is required: https://tsweb.fxcorporate.com/
  • #5,575
  • Dec 9, 2014 3:28pm Dec 9, 2014 3:28pm
Quoting nkimandi
Hi Jason, Much thanks for the job you are doing up in here. In August i became a Reffering Broker and much later a Money Manager..my Referring Broker Agreement entitled me to a 1 pip per round turn lot to any client i introduced..i was even allocated an RB Number..this was subsequently amended via an FXCM communication which i readily agreed to ..i also signed a separate Money Manager agreement and was allocated both a Merchant Account and Trading Agent Account. I have subsequently traded largely until now when i wanted to withdraw funds which were...
Hi Nkimandi,

While I cannot comment on your referring broker agreement, I would be happy to put you in touch with one of our specialists in that department to address any questions you have. Please send me a private message with your contact details and I will arrange a follow up call for you.

Thanks,
Jason
  • #5,576
  • Dec 10, 2014 1:45am Dec 10, 2014 1:45am
Jason,

I've a live trading account @ fxcm uk and deciding to apply for a free vps server hosting.

Latency is essential for the ea that I'll use.

Which vps server should I choose? Fxcolo or BeeksFx.

I've heard that Fxcolo vps servers are in the same datacenter with yours.

In that case I'll choose fxcolo.

Thanks in advance.
  • #5,577
  • Dec 10, 2014 5:18am Dec 10, 2014 5:18am
Quoting grandaevus
Jason, I've a live trading account @ fxcm uk and deciding to apply for a free vps server hosting. Latency is essential for the ea that I'll use. Which vps server should I choose? Fxcolo or BeeksFx. I've heard that Fxcolo vps servers are in the same datacenter with yours. In that case I'll choose fxcolo. Thanks in advance.
I would also like to know this, and if it makes a difference which FXCM you are with. For example, I have a BeeksFX VPS and an FXCM AU account. Regardless if I use my BeeksFX VPS or my local machine, I always end up connecting to a server in Australia.

Thanks,
MooMooForex
  • #5,578
  • Dec 10, 2014 8:22am Dec 10, 2014 8:22am
I had a VPS with FXColo and it was 1 ms away from FXCM servers.

In the picture you can see 1 ms ping time from inside the VPS (through Remote Desktop Connection) compared with the 127 ms ping time from my home computer.

This is with TS2 or FIX servers. With MT4 the situation might be different.

http://fwd.pics/f/fxcm_proximity_hosting.png
  • #5,579
  • Dec 10, 2014 12:28pm Dec 10, 2014 12:28pm
Quoting grandaevus
I've heard that Fxcolo vps servers are in the same datacenter with yours.
Quoting moomooforex
I would also like to know this, and if it makes a difference which FXCM you are with.
Just to confirm, FXColo's VPS servers are indeed co-located with FXCM's trading servers. The particular FXCM entity you trade through doesn't make a difference to latency, since FXCM AU, FXCM UK and FXCM US share the same trading servers.
  • #5,580
  • Dec 10, 2014 12:28pm Dec 10, 2014 12:28pm
Quoting Adal
I had a VPS with FXColo and it was 1 ms away from FXCM servers. In the picture you can see 1 ms ping time from inside the VPS (through Remote Desktop Connection) compared with the 127 ms ping time from my home computer. This is with TS2 or FIX servers. With MT4 the situation might be different. {image}
Thanks for sharing this information, Adal
5 traders viewing now