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  • #6,681
  • Jan 26, 2015 2:04pm Jan 26, 2015 2:04pm
Quoting hatzius
{quote} my only surprise will be when they will require segregated accounts in the us. some fat ladies are obsessed with the markets and they are screwing everyone. that's the nfa/cftc - a bunch of retards. hopefully, i'll lose my temper and write more on this crap and get me banned from ff.hopefully (2), jason, your "trading" account with fxcm is not affected by this. laughed so hard, man!

. Let me provide an actual example. Today, I want to long usdjpy I have 10k allocated for forex trading in my bank account. I want to risk 2% ($200). I am going to use a 40 pip sl. This equates to 5 mini lots. My margin requirement is $100, however since I'm risking $200, this is what I transfer. Now if you are with Oanda or any other NFA regulated broker, you need to provide, wait for it.........$1500 in margin. So while I will keep $1300 in my own bank, traders with FXCM, Oanda or any other NFA regulated broker will give broker 1500. How is this a better option for ANY TRADER?
  • #6,682
  • Jan 26, 2015 2:06pm Jan 26, 2015 2:06pm
Quoting hatzius
{quote} my only surprise will be when they will require segregated accounts in the us. some fat ladies are obsessed with the markets and they are screwing everyone. that's the nfa/cftc - a bunch of retards. hopefully, i'll lose my temper and write more on this crap and get me banned from ff.hopefully (2), jason, your "trading" account with fxcm is not affected by this. laughed so hard, man!
if given the option, the US based brokers would offer the same leverage as its overseas competitors. It's the over regulation that won't allow them too. Same reason they don't offer segregated accounts, not broker choice,the NFA does not allow it. They do not want spot forex to exist in the US, plain and simple. Let's face it, there are some much better brokers around the world than the offering here in the US. Are these brokers, such as Dukascopy, not fiscally responsible? They lowered leverage to 10:1 on eurchf in Oct. It is now back to 100:1, while the NFA feels, after the fact, lets lower leverage now. This event is just an excuse to do what their intentions were in the first place. Prior to last Thursday, when was the last event that created any negative balances?
  • #6,683
  • Jan 26, 2015 2:13pm Jan 26, 2015 2:13pm
Quoting Profit Daily
{quote} . Let me provide an actual example. Today, I want to long usdjpy I have 10k allocated for forex trading in my bank account. I want to risk 2% ($200). I am going to use a 40 pip sl. This equates to 5 mini lots. My margin requirement is $100, however since I'm risking $200, this is what I transfer. Now if you are with Oanda or any other NF regulated broker, you need to provide, wait for it.........$1500 in margin. So while I will keep $1300 in my own bank, you will give broker 1500. How is this a better option for ANY TRADER?
man, you're right!!!it's just that i trade more (a bunch more) capital than you do. i wouldn't be comfortable to ship several thousands to a shop i don't know anything about beside the fact that's unregulated. i could as well donate it to charity. it's ok if you trade something like you say you do.
  • #6,684
  • Jan 26, 2015 2:18pm Jan 26, 2015 2:18pm
Quoting hatzius
{quote} man, you're right!!!it's just that i trade more (a bunch more) capital than you do. i wouldn't be comfortable to ship several thousands to a shop i don't know anything about beside the fact that's unregulated. i could as well donate it to charity. it's ok if you trade something like you say you do.
Not sure how large you are talking, but even trading 3 standards only requires $600 in margin, with a 40 pip stop it's $1200 at risk. My broker offers free wire withdrawals over $500, so you could withdrawal daily. That same position requiring $600 in margin, now requires......holy shit!!!!! over $9,000 here in the good 'ole US of A. Sure am glad they're lookin' out for us.
  • #6,685
  • Edited 5:52pm Jan 26, 2015 2:21pm | Edited 5:52pm
Quoting Profit Daily
{quote} if given the option, the US based brokers would offer the same leverage as its overseas competitors. It's the over regulation that won't allow them too. Same reason they don't offer segregated accounts, not broker choice,the NFA does not allow it. They do not want spot forex to exist in the US, plain and simple. Let's face it, there are some much better brokers around the world than the offering here in the US. Are these brokers, such as Dukascopy, not fiscally responsible? They lowered leverage to 10:1 on eurchf in Oct. It is now back to...
subscribed to your opinion! they don't want to allow spot fx to small retail traders.but they can't force you not to go offshore!if you know a good broker that accepts us accounts, go for it! p.s. again, there are better brokers outside the us that are so much better than ib, citi, fxcm, oanda, etc. the babysitters won't allow you tough... they want to make you stay with your pension fund manager (cause you know, he's a real pro - he makes +1.19% year). and subscribe to the street.com for market opinion. and watch cnbc. and pay for datafeed. these muppets, i'm just so sick of them. but expect the 19th of feb (it will bring us down to hell; we're lucky if we get 10:1)! just wait for that day, boys & girls!
  • #6,686
  • Jan 26, 2015 2:29pm Jan 26, 2015 2:29pm
Quoting Profit Daily
{quote} Not sure how large you are talking, but even trading 3 standards only requires $600 in margin, with a 40 pip stop it's $1200 at risk. My broker offers free wire withdrawals over $500, so you could withdrawal daily. That same position requiring $600 in margin, now requires......holy shit!!!!! over $9,000 here in the good 'ole US of A. Sure am glad they're lookin' out for us.
no profit, what you don't realize is that you get more bang for your $ trading stocks, futures and options than this "deleveraged" fx! and you have thousands of things to chose from! this is what i did, this is what i'll do (cause i'm not interested in spot anymore).good luck!
  • #6,687
  • Jan 26, 2015 2:44pm Jan 26, 2015 2:44pm
Quoting TheGrind
{quote} There is actually US regulations about brokers posting on forums??? I would love to see the regulations on forum postings if you could provide them. If not, I guess it's just more bullshit from FXCM.
:-)))))))))))))))))))))))))))))u made my day, buddy!
  • #6,688
  • Jan 26, 2015 2:46pm Jan 26, 2015 2:46pm
Quoting hatzius
{quote} no profit, what you don't realize is that you get more bang for your $ trading stocks, futures and options than this "deleveraged" fx! and you have thousands of things to chose from! this is what i did, this is what i'll do (cause i'm not interested in spot anymore).good luck!
That's a shame, because then they (NFA/CFTC) win. Their goal was for you not to trade spot and move to the markets you've mentioned.
  • #6,689
  • Jan 26, 2015 3:20pm Jan 26, 2015 3:20pm
Quoting hatzius
{quote} no profit, what you don't realize is that you get more bang for your $ trading stocks, futures and options than this "deleveraged" fx! and you have thousands of things to chose from! this is what i did, this is what i'll do (cause i'm not interested in spot anymore).good luck!
I'm with you. Higher margins, negative balances, broker spikes, spreads that widen 10x's for no reason (your broker will say "liquidity issues", but everyone knows it's just an easy way for them to f*ck you over), FIFO... each day brings new issues, regulations.... just getting sick of it. Pulling all my money from spot and putting it back into the futures market.
  • #6,690
  • Jan 26, 2015 3:21pm Jan 26, 2015 3:21pm
Quoting Profit Daily
{quote} That's a shame, because then they (NFA/CFTC) win. Their goal was for you not to trade spot and move to the markets you've mentioned.
Then NFA/CFTC wins... it's obvious they never wanted retail traders in the spot market in the first place. F*ck 'em... I'm done.
  • #6,691
  • Jan 26, 2015 3:23pm Jan 26, 2015 3:23pm
Quoting TheGrind
{quote} I'm with you. Higher margins, negative balances, broker spikes, spreads that widen 10x's for no reason (your broker will say "liquidity issues", but everyone knows it's just an easy way for them to f*ck you over), FIFO... each day brings new issues, regulations.... just getting sick of it. Pulling all my money from spot and putting it back into the futures market.
So, they are accomplishing exactly what they intended. Brokers exiting US, traders going to futures...
  • #6,692
  • Jan 26, 2015 4:02pm Jan 26, 2015 4:02pm
Quoting hatzius
Notice I-15-07 January 23, 2015 Immediate attention required – Financial Requirements Section 12 – Additional increases in required minimum security deposit for forex transactions As you know, on Jan. 21, 2015, NFA's Executive Committee exercised its authority under NFA Financial Requirements Section 12 and increased, until further notice, the minimum security deposits required to be collected and maintained by FDMs under Section 12 for transactions involving the Swiss franc (5%), Swedish krona (3%) and Norwegian krone (3%). At the time of those...
Is this crap for us non-US residents at FXCM UK also? I really don't appreciate being governed by US regulations where I have no link to it whatsoever except this broker - which is in UK in my case.
  • #6,693
  • Jan 26, 2015 4:25pm Jan 26, 2015 4:25pm
Quoting KeyframeHR
{quote} Is this crap for us non-US residents at FXCM UK also? I really don't appreciate being governed by US regulations where I have no link to it whatsoever except this broker - which is in UK in my case.
I don't think so. But be wary - FXCM quadrupled the MMR on an account I trade without any notice at all. Not even after the event. They sent out the updated margins re fx and gold, but no mention was made of indices. Also, they only increased the margin on selected accounts - other accounts were not affected. The story I heard is they increased margin requirements on all accounts over £50k - but that's only hearsay.
Full-time trader and loving it!
  • #6,694
  • Jan 26, 2015 4:39pm Jan 26, 2015 4:39pm
Quoting Digitalis
{quote} I don't think so. But be wary - FXCM quadrupled the MMR on an account I trade without any notice at all. Not even after the event. They sent out the updated margins re fx and gold, but no mention was made of indices. Also, they only increased the margin on selected accounts - other accounts were not affected. The story I heard is they increased margin requirements on all accounts over £50k - but that's only hearsay.
I got their email on Thursday I believe with MMR sheet where it basically said it will all standardize at 50:1 at Friday's close. And so it was. I didn't receive anything regarding this thing, and it's 36 minutes past 5pm EST in US and everything is still the same for me with JPY, AUD, and the rest (FXCMUK), so I guess we're good. For now.

Really wanted to give them a chance (and still will do), but market is tough as it is and I don't need my broker against me as well. It's both annoying and a challenge lol.

Also, those sub 1 pip spreads? Never saw them. Ever.
  • #6,695
  • Jan 26, 2015 4:55pm Jan 26, 2015 4:55pm
Quoting KeyframeHR
{quote} I got their email on Thursday I believe with MMR sheet where it basically said it will all standardize at 50:1 at Friday's close. And so it was.
Yes that was the fx & gold email I think. Nothing about any other instruments - if you have something that does mention others (indices) I'd really appreciate a PM.
Full-time trader and loving it!
  • #6,696
  • Jan 26, 2015 5:09pm Jan 26, 2015 5:09pm
Quoting Digitalis
{quote} Yes that was the fx & gold email I think. Nothing about any other instruments - if you have something that does mention others (indices) I'd really appreciate a PM.
All I got was:

Quote
Dear Client,
There are two major upcoming news events which may cause significant volatility: the ECB Bank Rate Decision on Thursday (12:45 GMT) and the Greek Election on Sunday. Due to these events we will increase Margin Requirements on Forex Instruments and Gold.
The first scheduled Margin Requirement increase will take effect on Thursday, January 22nd between 00:00 GMT and 02:00 GMT Time. An additional Margin Requirement increase will take effect after market close on Friday January 23rd. Refer to the document below for new margin requirements....
etc..

with a link to this: http://img.fxcorporate.com/global/pd...in-2015-01.pdf
  • #6,697
  • Jan 26, 2015 5:39pm Jan 26, 2015 5:39pm
Quoting KeyframeHR
{quote} Is this crap for us non-US residents at FXCM UK also? I really don't appreciate being governed by US regulations where I have no link to it whatsoever except this broker - which is in UK in my case.
i guess it's only for people from the ussa! :-)
  • #6,698
  • Jan 26, 2015 7:06pm Jan 26, 2015 7:06pm
Quoting KeyframeHR
{quote} Is this crap for us non-US residents at FXCM UK also? I really don't appreciate being governed by US regulations where I have no link to it whatsoever except this broker - which is in UK in my case.
Exact Same sentiment here!!

As an Aussie there are local companies here (Pepperstone) which allow for 400:1 margin if requested.

FXCM AU leaves me little choice but to switch over to another broker as their 50:1 is below par when compared the available competitors.

However if they had gone to 100:1, I would have seriously considered sticking around as this is my actual preference. But alas the knee jerk reactions show how little they care about their customer base.

Good riddance.....
  • #6,699
  • Jan 26, 2015 8:00pm Jan 26, 2015 8:00pm
Quoting Dafonz
{quote} Exact Same sentiment here!! As an Aussie there are local companies here (Pepperstone) which allow for 400:1 margin if requested. FXCM AU leaves me little choice but to switch over to another broker as their 50:1 is below par when compared the available competitors. However if they had gone to 100:1, I would have seriously considered sticking around as this is my actual preference. But alas the knee jerk reactions show how little they care about their customer base. Good riddance.....
400-1 yeah that's smart. Traders like you are the reason that all of this crap is happening. 50-1 is more then sufficient. Here is the thing its not a knee jerk reaction to cut leverage. Cutting leverage (to a point)is a good thing. When they did it in the US did anyone notice how quickly the miracle systems vanished from your inbox. I got an email today selling an indicator for only $7 bucks imagine that. Why would a successful trader not trade instead. Anyway many FX traders are like kids at a birthday party with an unlimited candy buffet. If you don't stop them they will eat themselves sick. I am a fan of FXCM and hope they pull through in fact everyone in this forum should hope so because they provide a portal. I have my own theories being in the US and will be posting something later because as a US trader I am sick of being told I am to stupid to understand the risk and what I am doing.

If your outside the US don't laugh its coming your way as well.

Question to FXCM and I know you guys monitor the forums are you thinking of closing locations to reduce your capital requirements? Also why arent you fighting the NFA. They are not a government agency they were appointed by the CFTC and basically its like 3 guys making the rules for an entire market, REALLY????. Traders will support you if you can help us from getting pushed out of the markets.

If the dam Euro was the currency that caused this flipping problem why weren't the margin requirements on that pair increased???? WHY the YEN and AUSSIE???
  • #6,700
  • Jan 26, 2015 8:18pm Jan 26, 2015 8:18pm
Are you unappreciative potlickers throwing in the towel now?

After all that Jason and FXCM have done to for you?

Did you not read throughout the day that Jason answered some pretty serious questions and concerns...

Like,

Quoting Magix
Press 1 for a company directory,
Quoting Jason Rogers
the Active Trader Group is in the office. It's possible they were just all on the phone when you tried earlier. I've asked one of my colleagues in that department to follow up with you.
Quoting Magix
Press 2 for an update on your account
Quoting Jason Rogers
That means trading, deposits and withdrawals continue as before. In regards to your withdrawal taking a bit longer, please note that January 19th was Martin Luther King Day here in the US. That means banks were closed, and we also had less Operations staff in the office due to the holiday. Turnaround times for future withdrawals will be as normal.
Quoting Magix
Press 3 for their hours of operation,
Quoting Jason Rogers
I'm in the office Monday to Friday during US daytime hours, which is why I didn't post over the weekend. Jason
Quoting Magix
or Press 4 to hear a duck quack.
Quoting Jason Rogers
Now that the trading week is in full swing, you can see from the live table on this forum, that FXCM spreads are tight and competitive
Seriously, where else are you Pathetic Suckers valued customers, going to get service like this?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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