Profit is on the other side of your mind
- #7,183
- Feb 24, 2015 4:28pm Feb 24, 2015 4:28pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #7,185
- Feb 24, 2015 4:38pm Feb 24, 2015 4:38pm
- Joined Jun 2009 | Status: FXCM Representative | 5,808 Posts
- #7,186
- Feb 24, 2015 4:56pm Feb 24, 2015 4:56pm
my stats for february!
i scalp the m1 charts, which makes me think that i'm pretty exposed to price anomalies.
so everything works! i'm 90% satisfied with fxcm (both mt4 and tradestation) trading eur/usd & usd/jpy.
good luck! if you check the new indicators added on tradestation, you'll see people trade billions of dollars every day with fxcm.
- #7,192
- Edited 11:14pm Feb 24, 2015 9:23pm | Edited 11:14pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
FXCM Says It Has a Unique Order Submitting Advantage. Really?
This statement by FXCM agent reveals the archaic quality of service they offer....
"Off quotes" messages on our MT4 platform are designed to protect you from unwanted negative slippage. What you pointed out actually highlights a unique advantage of our MT4 setup. An "off quotes" message means the price that was available in the market to fill your order was outside your specified Maximum Deviation range. The message is to inform you that your order was cancelled to protect you from negative slippage beyond your accepted tolerance."
In this day an age there is no reason to cancel the order. There is no reason to force the trader to have to repeatedly physically resubmit the order in an attempt to get a fill as the price actually moves back and forth across his order price. What should happen is for FXCM to keep the order live until filled, which as price moves back and forth would probably happen even before the trader could physically pound the keys to resubmit it! FXCM is not providing an "advantage", but an extreme disadvantage due to archaic order submitting to their liquidity provider. And what happens here with FXCM does not happen at the same time with offshore brokers. So, it is not a limiting function of MT4 but a matter of how FXCM has decided to handle client orders. It is this kind of double talk from FXCM, in the face of so many disadvantages that come with trading with them, that is so frustrating and disappointing. And made even more so because not all of the disadvantages of trading with FXCM (of trading with any USA broker) is really their fault.
FXCM should actually be uniting with the few remaining USA brokers to take CFTC and NFA to court, or to Congress, to get them the hell out of overseeing anything but the wash of their own dirty laundry. Due to their unwanted interference, all USA retail traders suffer these issues:
1. USA regulated brokers cannot offer segregated accounts for the added protection of retail traders.
2. USA regulated brokers cannot therefore obtain insurance against retail trader margin losses, relieving the retail traders of that liability.
3. USA regulated brokers cannot offer reasonable margin/leverage, which is a key element to making money (ask any bank trading desk).
4. USA regulated brokers cannot offer hedging, which is a key element to managing risk (ask any successful hedge fund).
5. USA regulated brokers cannot allow trades to be closed in whatever order allows the trader to maximize profit, or minimize loss (ask yourself, why?).
6. USA regulated brokers cannot accept account funding via client's credit card, no matter how high a credit score the client has. Unbelievable!
These "False Regulators", CFTC and NFA, do not regulate for the benefit of retail traders of the spot forex market. Quite the opposite, actually, and the evidence that proves it is here, staring us in the face!
Come on, FXCM, have some balls! Do something about this deplorable situation you brokers and we traders in the USA have to deal with due to these corrupt and false "regulators". Do that and you will have something to crow about! And you will have all the retail business you can possibly handle.
Until then, it just isn't worth it.
I know that some readers will think harshly of me, thinking I am nitpicking on FXCM. I write the truth here. And it saddens me. I am as many are, totally frustrated at the way the CFTC and NFA have taken over the spot forex market, bossing around brokers and traders alike, and not in any way that really improves the opportunity for brokers to be successful or for retail traders to be successful. They have been heavy handed and detrimental to both brokers and traders alike. I am totally frustrated by this because not I, nor any trader can do anything about this except go offshore. We would rather not, but the only entities that can possibly put the CFTC and NFA in their place are the brokers. No one is left that can do it! And with FXCM touting all its credentials, one would think they would take up the banner and run with it. But there is no sign that they, nor any of the few remaining brokers have even considered forming a united front against the CFTC and NFA. Maybe the brokers are content with the way things are, but I guarantee all that most USA retail traders are not, and as time goes on more and more will vacate USA brokers unless something is done to reverse the ridiculous and draconian decisions of the CFTC and NFA. the ball is in the brokers' court. The brokers are the ones that stand the best chance of getting the CFTC and NFA out of this spot forex business, or at least getting their wrists slapped and all their decisions to date overruled. In any case, we retail traders look to see what you brokers do. Do you really care about we retail traders, or not? You do? Then prove it!
-tah
This statement by FXCM agent reveals the archaic quality of service they offer....
"Off quotes" messages on our MT4 platform are designed to protect you from unwanted negative slippage. What you pointed out actually highlights a unique advantage of our MT4 setup. An "off quotes" message means the price that was available in the market to fill your order was outside your specified Maximum Deviation range. The message is to inform you that your order was cancelled to protect you from negative slippage beyond your accepted tolerance."
In this day an age there is no reason to cancel the order. There is no reason to force the trader to have to repeatedly physically resubmit the order in an attempt to get a fill as the price actually moves back and forth across his order price. What should happen is for FXCM to keep the order live until filled, which as price moves back and forth would probably happen even before the trader could physically pound the keys to resubmit it! FXCM is not providing an "advantage", but an extreme disadvantage due to archaic order submitting to their liquidity provider. And what happens here with FXCM does not happen at the same time with offshore brokers. So, it is not a limiting function of MT4 but a matter of how FXCM has decided to handle client orders. It is this kind of double talk from FXCM, in the face of so many disadvantages that come with trading with them, that is so frustrating and disappointing. And made even more so because not all of the disadvantages of trading with FXCM (of trading with any USA broker) is really their fault.
FXCM should actually be uniting with the few remaining USA brokers to take CFTC and NFA to court, or to Congress, to get them the hell out of overseeing anything but the wash of their own dirty laundry. Due to their unwanted interference, all USA retail traders suffer these issues:
1. USA regulated brokers cannot offer segregated accounts for the added protection of retail traders.
2. USA regulated brokers cannot therefore obtain insurance against retail trader margin losses, relieving the retail traders of that liability.
3. USA regulated brokers cannot offer reasonable margin/leverage, which is a key element to making money (ask any bank trading desk).
4. USA regulated brokers cannot offer hedging, which is a key element to managing risk (ask any successful hedge fund).
5. USA regulated brokers cannot allow trades to be closed in whatever order allows the trader to maximize profit, or minimize loss (ask yourself, why?).
6. USA regulated brokers cannot accept account funding via client's credit card, no matter how high a credit score the client has. Unbelievable!
These "False Regulators", CFTC and NFA, do not regulate for the benefit of retail traders of the spot forex market. Quite the opposite, actually, and the evidence that proves it is here, staring us in the face!
Come on, FXCM, have some balls! Do something about this deplorable situation you brokers and we traders in the USA have to deal with due to these corrupt and false "regulators". Do that and you will have something to crow about! And you will have all the retail business you can possibly handle.
Until then, it just isn't worth it.
I know that some readers will think harshly of me, thinking I am nitpicking on FXCM. I write the truth here. And it saddens me. I am as many are, totally frustrated at the way the CFTC and NFA have taken over the spot forex market, bossing around brokers and traders alike, and not in any way that really improves the opportunity for brokers to be successful or for retail traders to be successful. They have been heavy handed and detrimental to both brokers and traders alike. I am totally frustrated by this because not I, nor any trader can do anything about this except go offshore. We would rather not, but the only entities that can possibly put the CFTC and NFA in their place are the brokers. No one is left that can do it! And with FXCM touting all its credentials, one would think they would take up the banner and run with it. But there is no sign that they, nor any of the few remaining brokers have even considered forming a united front against the CFTC and NFA. Maybe the brokers are content with the way things are, but I guarantee all that most USA retail traders are not, and as time goes on more and more will vacate USA brokers unless something is done to reverse the ridiculous and draconian decisions of the CFTC and NFA. the ball is in the brokers' court. The brokers are the ones that stand the best chance of getting the CFTC and NFA out of this spot forex business, or at least getting their wrists slapped and all their decisions to date overruled. In any case, we retail traders look to see what you brokers do. Do you really care about we retail traders, or not? You do? Then prove it!
-tah
- #7,193
- Edited 4:20am Feb 25, 2015 12:37am | Edited 4:20am
how many people here don't even have an account with fxcm and still denigrate them on every occasion, raise your hand! how many people here lost their account during the chf and like to haunt this place from now on with stupid remarks and fearmongering, raise your hand! jason, if you read this thread (and it's sure that you read it), is it possible to clean it up? for the sake of traders that actually trade with fxcm and come here to check up on technical stuff related to the day to day operations and not to useless spam. profit daily has become...
Profit Daily perhaps you should start you own thread with all your wisdom and traderathome with his conspiracy bank robber theories
- #7,197
- Feb 25, 2015 10:00am Feb 25, 2015 10:00am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
{quote} Funny, I'm with FXCM and they have treated me just fine. I've very rarely seen random price spikes. And if I did and it impacted my trades, I feel very good that FXCM would investigate the issue and fix any problems. My platform never freezes...I've never seen an "off quotes" message My commissions are quite reasonable My spreads are some of the tightest in the industry I get super-fast executions When I send an email to their technical staff, I get responses in a matter of minutes. Deposits/withdrawals are completed very quickly. I can...
zznbrm,
You have quite the litany of adjectives, don't you!
just fine
rarely
very good
quite reasonable
tightest in industry (totally wrong!)
super fast
very quickly
more reliable
plenty
for my needs
Unfortunately, they are your adjectives. No one else here has any idea of your standards by which you measure the suitability of using them! In all the time you have been at FF you have posted no real-time trades, nor anything else that would give an intelligent person some idea of your competency.
As for Profit Daily, myself and all other USA traders that have a broader perspective on things, we are stating facts. No adjectives required.
-tah