FXCM Discussion | Page 310 | 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

  • #6,181
  • Jan 19, 2015 9:24am Jan 19, 2015 9:24am
Quoting ZebraSquirl
{quote} Thanks, Jason. But it looks like you're now a Leucadia National employee (sorry, there's no leg-pulling emoticon).
Hi ZebraSquirl,

Still 100% FXCM employee through and through

Leucadia extended a $300M loan to FXCM, and FXCM management continues to be in control of day to day decisions of the firm.

Jason
  • #6,182
  • Edited 5:05pm Jan 19, 2015 9:29am | Edited 5:05pm
Quoting yassfa
{quote} I did a withdrawal at friday and already have the money on my account today Monday morning.
I put a withdraw request in Thursday and still don't have my money. It is still sitting in my account.


update: i received an email confirmation this afternoon that my money had been transferred to me. I will have to admit I was a little nervous as to if I would ever see this money again. Hats off to FXCM. I am going to keep my account with them but going to spread my money now across multiple brokers.
  • #6,183
  • Jan 19, 2015 9:29am Jan 19, 2015 9:29am
Quoting GEfx
{quote} Welcome back FXCM and Jason. Happy it worked out for us and I appreciate all the difficult work that went into the Leucadia deal. I have been one of your clients for over a decade and will continue to be a client. However I will spread my broker risk across several brokers now.
Hi GEfx,

Thanks for being a long-time client and we look forward continuing to service your account! I know everyone has been eager for more information, but as a publicly traded company I may be restricted from sharing any information until given approval by our team. There are many rules that we must follow in order to ensure we have full disclosure on a wide basis before discussing certain topics.

Quote
Someone at FXCM needs to hire the Gain risk management team asap. Lol. See you Sunday night.

That would involve profiting from our client losses which we do not believe to be in the best interest of our traders. We maintain that NDD provides a fair and transparent trading method for our clients. We will be reviewing risk management procedures for currencies artificially controlled and I will share details once they are finalized.

Jason
  • #6,184
  • Jan 19, 2015 9:32am Jan 19, 2015 9:32am
Quoting gajebo
Does FXCM still offer micro lot? forexmicrolot.com has been redirected to FXCM
Hi gajebo,

All of our accounts now have access to micro lot trading therefore there is no need for a separate micro lot website. Take a look at the account types. All start with an FX lot size of 1,000 which is a micro lot.

http://i.imgur.com/r2uInhV.png

  • #6,185
  • Jan 19, 2015 9:34am Jan 19, 2015 9:34am
Quoting maokun
{quote} Do you think they honor their policy about zero balance this time?
Hi maokun,

Our audit team is currently working through trade audits from the EUR/CHF move and they will be in contact as audits are completed. I don't have any additional details, but will let you know once available for me to share.

Jason
  • #6,186
  • Edited 9:56am Jan 19, 2015 9:43am | Edited 9:56am
Quoting triger88990
Are this their normal spreads during this time of the day? this is from a demo account but I'm curious how they are on their live accounts, isn't supposed their spread to be lowered now that they have introduced commissions? Thanks. {image}
Hi triger,

During the first few hours after the open, the market tends to be thinner than usual until the Tokyo and London market sessions begin. These thinner markets may result in wider spreads, as there are fewer buyers and sellers. This is largely due to the fact that for the first few hours after the open, it is still the weekend in most of the world.

Spreads are now trading back towards typical levels. Today is a bank holiday in the US so we may see less trading activity compared to last week.

http://i.imgur.com/KJKKzX8.png
*Source: http://www.myfxbook.com/forex-broker-spreads

Jason
  • #6,187
  • Jan 19, 2015 9:43am Jan 19, 2015 9:43am
Any commission in case of no trading activity in the account for a period at FXCM ?
  • #6,188
  • Jan 19, 2015 9:58am Jan 19, 2015 9:58am
Quoting Jason Rogers
{quote} Hi OMGtrader, Thanks for your question. Currencies held at artificial levels as we saw with EUR/CHF remain at the same risk so we will be looking to implement additional measures to prevent this from happening in the future....

Poor old John Kicklighter must be walking about with a thousand yard stare. Hope it didn't bite him in the ass too badly, his commentary is pretty damned awesome otherwise.
"Risk comes from not knowing what you're doing." - Warren Buffett
  • #6,189
  • Jan 19, 2015 11:13am Jan 19, 2015 11:13am
FXCM was my Broker Sinne 2011 and i will trust them in the Future.
They stand positively out of the Brokers crowd with their Education and news Sites. The Software also is a Highlight for me as Tradestation is a good Tool for trading.
  • #6,190
  • Jan 19, 2015 11:18am Jan 19, 2015 11:18am
Quoting Jason Rogers
{quote} Hi ZebraSquirl, Still 100% FXCM employee through and through Leucadia extended a $300M loan to FXCM, and FXCM management continues to be in control of day to day decisions of the firm. Jason
Glad to see you're alive and kicking after last week, which was no doubt somewhat of a roller coaster ride for FXCM employees ... .

Hope everyone managed to get off the ride with clean underwear ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #6,191
  • Jan 19, 2015 12:13pm Jan 19, 2015 12:13pm
The thing is Jason I realise this was a rare event and most of the blame must lie with the SNB for the way in which they announced the removal of the peg but some blame must lie with the broker and also the trader. It's not just for artificially held markets that FXCM need to change their risk management procedure, a black swan can happen in any market at anytime and liquidity can dry up. You wouldn't be able to predict a massive terrorist attack would you and the fact is if FXCM are not hedging positions where the majority of clients are trading one way at all times on all markets then I'm afraid that this will happen again at some point.

Unfortunately market makers although maybe not as transparent as ECN's they do hedge their book so will be in a position to stop clients out even if their is no liquidity in the real market. After losing my whole account with FXCM on this Eur/Chf trade in future I am more concerned my stop loss will work in a major move rather than getting some of the other small benefits an ECN offers.
  • #6,192
  • Jan 19, 2015 1:09pm Jan 19, 2015 1:09pm
Quoting hayseed
{quote} //---- hey jason..... kinda sure you have your hands full right now, but if you get a chance can you possibly give a timeframe for the margin required for chf pairs to revert back to normal..... obviously chf trades are being discouraged , and wisely so..... the margin required is now 10 times or higher for all chf pairs..... ie, 20,000 now for usdchf where prior it was 2000..... just wonderin..... that's all..... and only if you have the time.......thanks.....h
I know that this requires looking into a crystal ball, but any ideas when Swissie cross margin requirements will return to some sane levels? Apologies if this has been addressed somewhere above ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #6,193
  • Jan 19, 2015 2:01pm Jan 19, 2015 2:01pm
Quoting Jason Rogers
{quote} Hi gajebo, All of our accounts now have access to micro lot trading therefore there is no need for a separate micro lot website. Take a look at the account types. All start with an FX lot size of 1,000 which is a micro lot. {image}
Hi Jason, welcome back!
your standard is way up from $50 to $2000 minimum.
i've been with you forever, but moved most of my capital to IB to trade more markets.
still have $1600 or so with you (which I don't want to withdraw based on recent hysteria).
question: can i trade this amount or do i have to fund it until it covers your minimum? otherwise, does it apply to all accounts or only to people opening an account with you from now on?
thanks!
and wish you all the best!
  • #6,194
  • Jan 19, 2015 3:08pm Jan 19, 2015 3:08pm
Quoting Market Maker
The thing is Jason I realise this was a rare event and most of the blame must lie with the SNB for the way in which they announced the removal of the peg but some blame must lie with the broker and also the trader. It's not just for artificially held markets that FXCM need to change their risk management procedure, a black swan can happen in any market at anytime and liquidity can dry up. You wouldn't be able to predict a massive terrorist attack would you and the fact is if FXCM are not hedging positions where the majority of clients are trading...

I also always assumed that the FXCM Margin Watcher would always kick in and prevent my account going negative. Fortunately my account hasn't but this debacle has made me rethink. especially as on Live Chat with FXCM today I was told that they will not be resetting to zero the negative accounts
  • #6,195
  • Jan 19, 2015 6:35pm Jan 19, 2015 6:35pm
http://forexmagnates.com/swiss-bank-...tive-balances/

Oanda and Dukascopy "forgave" negative balance... that's a trust builder right there...
  • #6,196
  • Jan 19, 2015 6:54pm Jan 19, 2015 6:54pm
Quoting Mr.DK
http://forexmagnates.com/swiss-bank-...tive-balances/ Oanda and Dukascopy "forgave" negative balance... that's a trust builder right there...
you do know Dukascopy is a swiss company so im guessing there goverment either gave them a heads up or bail them out.
  • #6,197
  • Jan 19, 2015 8:14pm Jan 19, 2015 8:14pm
Quoting PoundTrader
{quote}you do know Dukascopy is a swiss company so im guessing there goverment either gave them a heads up or bail them out.
How about Oanda? How much did they lose in this event?
  • #6,198
  • Jan 19, 2015 8:17pm Jan 19, 2015 8:17pm
Quoting MoreYummy
{quote} How about Oanda? How much did they lose in this event?
  • #6,199
  • Jan 19, 2015 9:17pm Jan 19, 2015 9:17pm
I've read 5mil-10million loss.
  • #6,200
  • Jan 19, 2015 9:43pm Jan 19, 2015 9:43pm
Quoting Mr.DK
http://forexmagnates.com/swiss-bank-...tive-balances/ Oanda and Dukascopy "forgave" negative balance... that's a trust builder right there...
Hmmm - Nope, not from where I'm standing. (are you a DuKasscopy rep).
Where does that money come from. How are they making sooo much that they can afford to just hand out those millions. Smells of market maker.

Are they under so much pressure now that they feel they HAVE to do something to retain their customers that went into negative.

I'm sure every trader knows about the "... you can loose more than your account balance..." clause and say to themselves - yea its not going to happen to me.
Or - yea right, fat chance of getting extra from me. (couldn't find a digit smiley)


So are us traders that didn't go into negative, somehow really going to be paying for that handout. (Oh yea hang on, we are aren't we )

Hmmm, so maybe good to keep them "under water traders" in the market, that may be easier money to target than that of the big money traders surely.

cheers scalpz
Target 2 : Stoploss in the green
12 traders viewing now