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  • #7,121
  • Feb 15, 2015 9:37am Feb 15, 2015 9:37am
Quoting Jason Rogers
{quote} Hi Chris, I'm glad you're please with FXCM's Trading Station platform. {quote} The feature you described is typically offered by dealing desk brokers. Since they take can take the market risk on the other side of their clients' trades, it's easy for them to offer a guaranteed stop loss. When their clients get stopped out, they can take the profit on the other side without having to offset any orders in the wider market. By contrast, FXCM offers traders No Dealing Desk (NDD) forex execution. When a stop is triggered on our platform,...
But a guaranteed stop loss can also prevent the account going into negative balance something your adverts said would never happen to FXCM retail clients
  • #7,122
  • Edited 4:40pm Feb 15, 2015 10:34am | Edited 4:40pm
Hello.

Can anybody tell me why there are high spreads and no commissions on the MT4 DEMO?
I would like to see a Demo, which is as close to the real account as possible.

Look at the price difference between the Ask/Bid on the chart and the prices in the order window. What is this about? That's not making sense. Or does it to anybody here?
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  • #7,123
  • Feb 15, 2015 4:48pm Feb 15, 2015 4:48pm
(joke...)

FXCM's negative balance recovery date line has passed. It has been a total disaster, they collected a total of $0.0032M (one guy pressed the wrong button).
Discussions are now over, being under pressure, FXCM declares a state of Force Majeure to collect $$$$$$$... urgently.
Some 'Special Collection Team' are now at work worldwide:

Here under:

Australia beaches:
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London City:
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In Tokyo:
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My garden:
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  • #7,124
  • Feb 15, 2015 7:26pm Feb 15, 2015 7:26pm
Quoting adi17
Why I short FXCM, worth a minute of your attention... http://investing.covestor.com/2015/0...ge-broker-fxcm
Interesting read... I wonder where the author obtained the information stating FXCM is pursuing 60% of the negative account population instead oof the 10% they claimed
  • #7,125
  • Feb 15, 2015 10:21pm Feb 15, 2015 10:21pm
Quoting mindscream
{quote} Interesting read... I wonder where the author obtained the information stating FXCM is pursuing 60% of the negative account population instead oof the 10% they claimed
I remember FXCM said that the 10% they are going after incurred more than half of the $225 million loss. I believe that's what the author is talking about-60% of the total negative balance, not 60% of the traders with negative balances
  • #7,126
  • Feb 16, 2015 10:52am Feb 16, 2015 10:52am
Quoting Trenderer
Hi, I asked this question elsewhere but I'll ask here once more since I'm using FXCM. Basically I placed a short order on a pair yesterday. Today I placed another short order on the same pair. I would like to set a separate take-profit level for yesterday's order (+80 pips for example) and leave today's order running for a larger tp level. It seems every time I try to do this the take-profit line moves for both orders at the same time even though I selected only yesterday's order. Is there a way to assign different tp levels for different orders...
Hi Trenderer,

I would be happy to help with your question. If you have an account with our US entity, FIFO rules will only allow you to set a net limit which is applied to all orders for the currency pair. You won't be able to set individual limits on each order. And changing the limit order will apply the change to all open orders.

As an alternative I would suggest using individual offsetting entry orders. This way you can create your first entry order to buy at the +80 pip level and the second entry order to buy would be at your second take profit level. Please keep in mind these orders are not attached to your open trade so if you close your open trade manually then the orders will still remain pending.

An important note for anyone with hedging enabled on their account...this setup will open a hedged trade rather than closing out the position.

Jason
  • #7,127
  • Feb 16, 2015 11:17am Feb 16, 2015 11:17am
This is what i am getting, when price starts to move If you charge commission, execution should be faster. Whoever will manage this in the future, this need to be fixed.

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Good luck !
  • #7,128
  • Feb 16, 2015 12:10pm Feb 16, 2015 12:10pm
Quoting Carrionx
{quote} Wait a second, my whole point is about risk/reward. if I want to risk $200 on 10k account (2% of account size), on NZD account I would be risking 4% ($400) per trade in order to get the same return compared to GBP account. How's that not a disadvantage?
Assuming you would want to trade a GBP account with a starting balance of £10,000, the equivalent NZD denominated account would be about $24,000 NZD since the current GBP/NZD exchange rate is around $2.04. If you want to risk 2% of your account in a GBP denominated account you will risk £200 but the same 2% risk in the NZD account is larger at $480 because your account balance is larger due to the GBP/NZD exchange rate.

You're at no disadvantage from a P/L standpoint by trading in an NZD account as opposed to trading in a GBP account. But having the account in GBP is like having an unleveraged GBP/NZD position as Mitch mentioned.
  • #7,129
  • Feb 16, 2015 12:32pm Feb 16, 2015 12:32pm
Quoting jsr
Hi, Jason, I'd like to ask for some improvements to MarketScope that could benefit us as traders. I've submitted some suggestions at fxcodebase.com before, but none of them were addressed. For example: - Add a Magnet to the ruler tool. ( Like other tools have) - Modify Andrews Pitchfork tool to let user specify a drawing mode: Andrews, Schiff or Mod Schiff. - Add to Andrews Pitchfork the ability to draw quartiles, sliding parallels, and parallels at specified percentage form the center. - Modify the Rectangle tool to add the ability to extend it...
Hi jsr,

Great suggestions! I just forwarded the list over to the Trading Station project manager.

Quoting jsr
- Make available all FXCM Historic Data. Trading Station is a nightmare for historical analysis. In Marketscope you have access to a very limited amount of bars. So if you need to analyze in LTF what happened one year ago, you just can't.
Our programming services team created the Historical Data Downloader giving you the ability to access up to 10 years of historical data. The typical price is $499, but FXCM is now hosting an open house for a limited time with a $500 credit to the app store. FXCM Open House 2015. Enjoy!

Quoting jsr
By the way, is there any chance that FXCM integrates TradingView as web platform?
The TradingView charts are used on DailyFX so you never know.
  • #7,130
  • Feb 16, 2015 12:51pm Feb 16, 2015 12:51pm
Quoting Neir
Hi, I am a FXCM Canada i.e Friedberg Direct Client. I have been trading with FXCM US but since last four months I have moved my account with FXCM Canada. Recently around 3-4 days ago I have notice that whenever I place a trade a commission is being charged for placing a trade. There were no commission charged when I was trading with FXCM US. Can anybody in the forum help me on this When did FXCM started charging commissions on Forex trades? Are other Forex brokers also charging commission for placing trades?. Also recommend some good Forex brokers...
Hi Neir,

Welcome to the forum. Clients trading through Friedberg Direct powered by FXCM were upgraded to the new super tight spread + commission pricing model in December. The new pricing significantly reduces trading costs for our most popular currency pairs when compared with previous typical spreads.

http://i.imgur.com/5Cw3Usi.jpg


Previously our commission was included in the spread as a pip mark-up. With the new model, you see the best bid/offer from multiple liquidity providers on the platform and the spread is the compensation paid to the liquidity provider. Our compensation is now charged separately as a commission making the trading cost even more transparent. More details here http://www.fxcm.com/ca/spreads-commissions.jsp

Additionally, another added benefit of not applying the mark-up to the spread is that the market has to move a smaller distance to hit your limit and a longer distance to hit your stop. This can be very important for scalpers in particular aiming for short distances.

Jason
  • #7,131
  • Feb 16, 2015 12:59pm Feb 16, 2015 12:59pm
Quoting MikeFT
Hello. Can anybody tell me why there are high spreads and no commissions on the MT4 DEMO? I would like to see a Demo, which is as close to the real account as possible. Look at the price difference between the Ask/Bid on the chart and the prices in the order window. What is this about? That's not making sense. Or does it to anybody here? {image}
Hi Mike,

The demo uses the same prices as our live accounts to make them as realistic as possible. It looks like you posted this Sunday after the start of trading. 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.

Jason
  • #7,132
  • Feb 16, 2015 1:10pm Feb 16, 2015 1:10pm
Quoting RabbitWolf
This is what i am getting, when price starts to move If you charge commission, execution should be faster. Whoever will manage this in the future, this need to be fixed. {image} Good luck !
Hi RabbitWolf,

The message invalid prices or off quotes most likely means the price that was available in the market to fill your order was outside your specified Maximum Deviation range. If you find that you are getting the message frequently, then consider increasing your Maximum Deviation, particularly if you trade during times when prices can change quickly.

Jason
  • #7,133
  • Feb 17, 2015 5:52am Feb 17, 2015 5:52am
Quoting Jason Rogers
{quote} Hi Mike, The demo uses the same prices as our live accounts to make them as realistic as possible. It looks like you posted this Sunday after the start of trading. 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. Jason
Thank you for your answer.
I still wonder:

  1. Why is the chart on the price different to the price in the order window?
  2. Why is there no commission charged if an order is placed. As I see it, FXCM is offering low (not upmarked) spreads + a commission. I'd like to have this very same scenario on Demo!

  • #7,134
  • Feb 17, 2015 7:14pm Feb 17, 2015 7:14pm
Quoting MikeFT
{quote} Thank you for your answer. I still wonder: Why is the chart on the price different to the price in the order window? Why is there no commission charged if an order is placed. As I see it, FXCM is offering low (not upmarked) spreads + a commission. I'd like to have this very same scenario on Demo!
FXCM, MT4, Bid, Ask, Commissions & Swaps

MikeFT,

What you are seeing is a complete difference in the bid/ask prices FXCM provides for MT4 charting and the bid/ask prices FXCM gives you for opening/closing positions!

This is caused by using two different data feed sources to drive the MT4 software. In this day and age of computer technology there is no valid reason from the perspective of "we, the clients" to have to endure such absurdity!

As for no commissions being charged, just because they do not show up where they should show up in MT4 does not mean that FXCM is not charging them. Here also, FXCM has tinkered with the data feed for MT4 so that neither commissions nor swap charges will appear! There is no valid excuse for this either, at least not from the perspective of "we, the clients".

The chart bid/ask and the order tile bid/ask should be in complete agreement. Commission charges and swap charges should appear where MT4 software intends them to appear, so that the maximum utility of the MT4 software intended for users is actually provided to the users, including using that information within personal indicators based on MQL4 coding language.

FXCM, don't ask your clients to look in other places for important information that should be provided thru MT4, and deprive your clients of the MetaQuotes intended full utility of that most popular software.

-tah
  • #7,135
  • Feb 17, 2015 7:59pm Feb 17, 2015 7:59pm
Just watching this:http://www.bloomberg.com/news/videos...ome-currencies

So these are what FXCM see as high risk currencies.
My comments are not to be taken as trading advice, not a financial advisor
  • #7,136
  • Feb 17, 2015 9:53pm Feb 17, 2015 9:53pm
Jason
Can FXCM add USH15 and VIX to Meta Trader ?...not for trading just to be there ....
There is a winner and a loser, nothing in between.
  • #7,137
  • Feb 18, 2015 1:37am Feb 18, 2015 1:37am
Here is the list of currencies being discontinued by fxcm on feb 20.
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  • #7,138
  • Feb 18, 2015 2:08am Feb 18, 2015 2:08am
Quoting RickJames300
{quote} How about this: instead of wanting to impose regulatory requirements that not everyone wants, YOU start a brokerage that GUARANTEES stop losses! I am sure many traders will be very interested in how exactly you accomplish this....switch off your liquidity providers and only match in house orders? Or just have some giant slush fund of money sitting around just in case something bad happens? Or set up in a country that provides some kind of gov't insurance against any trading losses? Either way, its time to be the solution, and not rely on...
well i see your point but you have tunnel vision and therefore cannot see what is happening behind you ...when i arrange a discent brokerage where my liquid. providers will have to treat my and my clients stoplosses as guaranteed (by regulation) will you be my client? off-course at the end of the line there have to be few liq.providers market makers that are huge enough to internally manage risk, charge couple of pips for each stop-loss that should be enough to compensate any losses due to high slippage and at the end they will have the right to choose that if they find that any position is dangerous of huge slippage they can decrease leverage or even close the clients positions with 1 day prior notice...many brokerages and clients would have been saved today if Brokers closed clients CHF pairs positions or even lowered leverages in the days prior jan 15th...
i have another trick question for you ...imagine you are one of 5% retail traders in the world that make consistent profit and that you make 100% annually....prior that you've spend 2 years learning forex and demo trading it...therehow you manage to increase your acc for 5 years from 1000 usd to 32000 usd yet to loose it all in one single 2000 pips slippage on EUR CHF position held with only 5:1 leverage...what incentive do the retail trader have to loose 7 years of it's life to trade with 100% success with the always present danger that his/hers account might be wiped out at any moment?????
  • #7,139
  • Feb 18, 2015 4:30am Feb 18, 2015 4:30am
Quoting buytosell
Jason Can FXCM add USH15 and VIX to Meta Trader ?...not for trading just to be there ....
A generic reply.

Benefits of additional Broker accounts. Comes with no cost £500,000 ($770,000) insolvency cover. Charts and insolvency cover not available at FXCM.
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TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #7,140
  • Edited 1:50pm Feb 18, 2015 7:26am | Edited 1:50pm
Quoting traderathome
{quote} FXCM, MT4, Bid, Ask, Commissions & Swaps MikeFT, What you are seeing is a complete difference in the bid/ask prices FXCM provides for MT4 charting and the bid/ask prices FXCM gives you for opening/closing positions! This is caused by using two different data feed sources to drive the MT4 software. In this day and age of computer technology there is no valid reason from the perspective of "we, the clients" to have to endure such absurdity! As for no commissions being charged, just because they do not show up where they should show up in MT4...
Thank you for the information. If this is, what they do, I simply will not open a real account with them. There is no reason to accept such a weird behavior of MT. I was hoping it's a technical problem and FXCM would appreciate the information and resolve the issue asap - that should be in the interest of FXCM too, if FXCM is interested in new customers, after they did check the Demo...

I'm curious about one thing, even if I won't utilize an account with such behavior for anything: If I'd use an EA and tell the EA to buy at a certain price, which price triggers the EA? The price on the chart or the price in the order window.
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