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Attachments: FXCM Discussion
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FXCM Discussion

Quoting Jason Rogers
{quote} Hi Heph, unfortunately, I'm not a forum moderator (if only ). Forex Factory moderates these forums themselves. However, you make a good point about recent off topic posts. To Everyone: if you have comments whether positive or negative about me or FXCM, please feel free to post them here, but as a courtesy to your fellow forum members, if you have general comments about US regulations or questions about other brokers, please post them in the relevant thread instead. With your help this thread will remain the most popular in the...
they are, jason! i submitted several times a clean up report for some posts, giving them the indication that they were invasive, off-subject and following personal agenda, and they did nothing. you are a commercial member and the original starter of this thread. i guess they might respect your opinion.
good luck and welcome back!

p.s. for fxcm naysayers, just got murdered (not really, but was hurt ) in eur/aud - no platform freeze (mt4), nothing crazy.
p.p.s. good luck everyone.
Attached Image


... Struck a nerve I take it? I'm guessing it was the "new member / sleeper" point? ... LOL

Just goes to show, you can't put up a post of your "actual experience" with FXBS in this thread.
Ghost Rider - WWTBMD?
FXCM hunting stop more and more after their lost from SNB spread increases to a point speechless, pending order never got filled. if any traders looking to be with them Back Off
Attached Image (click to enlarge)
Click to Enlarge Name: fxcm data.PNG Size: 180 KB
That does not look good! It would be good if FXCM rep could explain.
Quoting albchr
{image} ... Struck a nerve I take it? I'm guessing it was the "new member / sleeper" point? ... LOL Just goes to show, you can't put up a post of your "actual experience" with FXBS in this thread.
http://assets.forexfactory.net/nfs/c...ar398390_6.gif heph
started ignoring you 20 hr ago

I lost some sleep but now I don't feel so bad. I don't think we will have to post anymore. People that are actually trading with them can show all the facts as well.
Quoting ForexDao
FXCM hunting stop more and more after their lost from SNB spread increases to a point speechless, pending order never got filled. if any traders looking to be with them Back Off {image}
The lowest any of my unregulated brokers has is 1.9604, not bad, only a difference of 125 pips. Good thing the NFA is watching.
This thread contains the most stupid traders on the intire Forex Factory
Bulls are stupid Animals!especially when Im short!
Quoting Profit Daily
The lowest any of my unregulated brokers has is 1.9604, not bad, only a difference of 125 pips. Good thing the NFA is watching.


Quoting ForexDao
FXCM hunting stop more and more after their lost from SNB spread increases to a point speechless, pending order never got filled. if any traders looking to be with them Back Off.



This is so true. This is how FXCM is trying to make it back.

Why all the news events trigger a 30 to 100 pips spread widening? Is liquidity still dry for FXCM?

I can not leave my trades open during new events announcement. FXCM widens spread at will for 30 to 100 pips.

May be the fictitious Jason Rogers can answer that one? Look at its profile again, any of the FXCM rep can post as Jason Rogers.
newzTrader
Quoting ForexDao
FXCM hunting stop more and more after their lost from SNB spread increases to a point speechless, pending order never got filled. if any traders looking to be with them Back Off {image}
Hi ForexDao,

Thanks for sharing that chart. If you had a pending order you believe should have been filled but wasn't, I encourage you to file a trade inquiry so the Trade Services Team can investigate what happened. If there was an error in our execution, we will make the appropriate correction to your account.

That said, I would like to address your concerns about our execution. If there were any doubts before, it should be pretty clear now that FXCM does not benefit when clients lose on our NDD model.

We don't hunt stops, because we have nothing to gain from you losing on a trade. We make money from your trading volume, not your losses. Furthermore, we will continue to offer our clients NDD execution.
Quoting Jason Rogers
{quote} Hi ForexDao, Thanks for sharing that chart. If you had a pending order you believe should have been filled but wasn't, I encourage you to file a trade inquiry so the Trade Services Team can investigate what happened. If there was an error in our execution, we will make the appropriate correction to your account. That said, I would like to address your concerns about our execution. If there were any doubts before, it should be pretty clear now that FXCM does not benefit when clients lose on our NDD model....
So why is the low on GBPAUD 125 pips lower on that spike than any of the 4 brokers I use?
Quoting newzTrader
{quote} {quote} This is so true. This is how FXCM is trying to make it back. Why all the news events trigger a 30 to 100 pips spread widening?
Hi newzTrader,

As mentioned in my previous post, FXCM provides you with NDD forex execution. While spreads can widen during news events, it's important to understand what causes that widening and how this differs from dealing desk brokers.

At FXCM, we simply pass on the best prices we receive from competing liquidity providers. That means when spreads widen, it's because banks are widening their spreads. Note that even in that situation, you're still benefiting from the best bid price and the best ask price from those competing providers. Since we don't take the market risk on the other side of your trades, we make the same amount of money from your trading volume whether you exit your trades for a profit or a loss.

By contrast, with a dealing desk broker, they could be taking the market risk on the other side of your trade. That means a loss for you could be a profit for them, or a profit for you could equal a loss for them. That would incentivize them to widen their spreads to trigger your stops or to prevent your limit/take profit orders from being triggered.

Quoting newzTrader
Is liquidity still dry for FXCM?
FXCM retail clients traded $450 billion according to the latest publicly available monthly metrics. That's our second best month ever for retail trading volume. You would be hard pressed to find another retail forex broker that can compare to that level.
Quoting justlearning
The condition column says Mkt S for this . This was yesterday evening 8.27pm gmt when the markets were closed.
"Mkt S" means the trade was opened with a Market order and closed with a Stop order. In regards to why this demo trade closed at 8:27pm GMT, I'd need to take a closer at your demo account. Since it is a demo, I could log into it to see what happened. Please send me a private message with your demo login and password. Also, please include the email address you've used to correspond with our Level 2 tech specialist, so I can share notes on this with him.

Quoting justlearning
Mkt C and Mkt S(t) meant, maybe you can explain them?
"Mkt" means those trades were opened with Market orders.
"C" means the first trade was closed with a Market order.
"S(t)" means the second trade was closed with a Trailing Stop order.

Quoting justlearning
When I am here can you advise why one buy order I placed the executed was higher than highest tip of the candle in which the order was place. There have been a number of curiosities that make me wonder, and wondering isn't the best when you want to place significant cash.
Note that by default, your Trading Station charts display the bid price (AKA the sell price) in the market. The ask price (AKA the buy price) is higher than that due to the bid/ask spread. That's why your buy order was filled at a higher price than you saw on your chart. Note that you can click on the Ask button in your chart toolbar to display the ask price instead of the bid price.

Quoting justlearning
There have been a number of curiosities that make me wonder, and wondering isn't the best when you want to place significant cash.
You are taking the right steps in asking these questions while you are still practicing on a demo.
Quoting Aad
{quote} Jason, I've been forgetting to ask if the real volume indicators will ever be somehow ported over to the MT4 platform? I'm not sure if that's been asked before so I apologize if it has...
Hi Aad,

Currently, our 5 real volume indicators are exclusive to the Trading Station platform. While there are no plans at this time to offer these indicators on other platforms we offer like MT4 or NinjaTrader, I'll post an update here if that changes. For now, please note that your FXCM MT4 account username and password will allow you to log into Trading Station to view these indicators.
Quoting Jason Rogers
{quote} Hi newzTrader, As mentioned in my previous post, FXCM provides you with NDD forex execution. While spreads can widen during news events, it's important to understand what causes that widening and how this differs from dealing desk brokers. At FXCM, we simply pass on the best prices we receive from competing liquidity providers. That means when spreads widen, it's because banks are widening their spreads. Note that even in that situation, you're still benefiting from the best bid price and the best ask price from those competing providers....
I only trade on ECN. I know the feed. So is it possible the brokers I use have more liquidity providers, therefore the spread was able to remain 125 pips higher on the bid than the bid on FXCM? I just can't grasp 125 pip difference, that's huge!
Quoting Jason Rogers
{quote} ….... Please send me a private message with your demo login and password. Also, please include the email address you've used to correspond with our Level 2 tech specialist, so I can share notes on this with him. {quote}………...

…...You are taking the right steps in asking these questions while you are still practicing on a demo.
It is only a demo to that extent it does not matter to delve too deep. What matters is to know at high level the possible reasons that an order could be executed outside market hours on the platform. This was TS not MT4.

Yes thanks please note my questioning and thoroughness is to ensure I open best account I can for my circumstances. Not to be negative. It is clear FXCM have brilliant tools and responsive support staff, but they also have controversies as it seems most brokers in this business do.
Quoting albchr
Such a debate going here. All I can say is I'm glad to be free of them. My "experience" with them doesn't reflect the supporters in this thread at all. Wish it had. All I can say is after 7-3/4 years having the same br0ker and yes, using MT4, I never had any complaints at all. No platform freezes (until about a month before the transfer), maybe half a dozen or less off quotes over all those years and money in/out in less than 24 hours. (Not that there was any issue getting money IN with these folks) .. lol The DAY this outfit took them over? Everything...
which broker are you using now, please?
Quoting porterneil
I now truly understand that FXCM is not "obliged" to help any of their member's close trades even when a stop-loss is used. It was an expensive lesson (an initial -35 PIP risk ending up as a -1700 PIP loss) about risk in the retail FX market. "FXCM’s Best Bid/Offer price updates in EUR/CHF were suspended for a window following the SNB announcement, and no orders in EUR/CHF were executed during that time. Given the extreme lack of liquidity and exceptionally volatile market conditions, both pricing and execution were suppressed until the market stabilized...
which broker you are using now?
Quoting Profit Daily
{quote} I only trade on ECN. I know the feed. So is it possible the brokers I use have more liquidity providers, therefore the spread was able to remain 125 pips higher on the bid than the bid on FXCM? I just can't grasp 125 pip difference, that's huge!
http://www.forexpeacearmy.com/forex-...esolved-3.html

It is not the first time, see attached case of Nasser Faris and FXCM. In the end FXCM admitted it was a bad candle, but only after Mr Faris made such a fuss FPA and more more people were reading about it. The self confessed multiplicity Jason Rogers character got involved to sort it. FXCM staff did try to persuade Mr Faris not to post in public about it, Mr Faris pointed out that was already done.

Ok a bad candle can happen, if it does FXCM should readily investigate and correct no?
Quoting justlearning
Just because a broker says it is NDD, STP or ECN does not mean it is doing so all the time and that it is dealing desk free. Behind the scenes it can be running a mixed model, and for multiple reasons or motives. Motive #1: Flexible Lot Offerings A desire to offer micro lots which are not allowed by the liquidity providers. When STP brokers sign business contracts with their liquidity providers (prime brokers), the contract terms sometimes specify that there is a minimum transaction level such as 0.1 lot that is acceptable by the liquidity provider,...
Since 2010, FXCM has provided traders with No Dealing Desk (NDD) forex execution on micro lots (AKA 1000 currency units, 1K or 0.01 standard lots): http://www.forexfactory.com/showthre...81#post3552881

That means each of your orders (even the smallest micro lot order) is offset one-for-one with the best prices from competing liquidity providers. We can do this because banks greatly value our industry leading trading volume. As a result, they are willing to offset individual micro lot orders for FXCM clients, even if they would not accept such orders from smaller brokers. It's similar to how Walmart and Apple can get deals from their suppliers that are not available to smaller retailers.

When FXCM acquired the MT4 accounts of IBFX last year, nano lots (AKA 100 currency units or 0.001 standard lots) could not be transferred from IBFX to FXCM specifically because we are NDD. There would have been no way to close those old IBFX nano lot trades on FXCM's NDD model: http://www.forexfactory.com/showthre...91#post7768991

Quoting justlearning
Motive #2: Desire For More Profits. Since it can be more profitable for brokers to take the other side of the transaction MM style, earning money on the bid/ask spread as well as when a client loses, it is very tempting for brokers to intermingle the MM model with the STP/ECN model even with orders beyond the minimum transaction levels. Just because a broker says that it is STP on its website does not mean that they are not also a market maker, and they might be able to get away this hybridization even if they are regulated. With more sophisticated...
If there were any doubts before, it should be pretty clear now that FXCM does not benefit when clients lose on our No Dealing Desk (NDD) forex execution. That's because we offset each of your orders one-for-one with the best prices from competing liquidity providers. That means we don't profit from your losses, or lose from your profits. Instead, we make money from your trading volume.

By contrast, if you trade with a dealing desk broker or maker maker, at the most basic level, when you lose, they win. For this reason, FXCM believes that NDD remains the fairest pricing model for forex traders, because it eliminates the conflict of interest that is present when you trade with a dealing desk broker. We don't hunt stops, because we have nothing to gain from you losing on a trade. In fact, we want you to be profitable so you can continue trading with us.

Quoting justlearning
How does FXCM provide assurance on slippage, could we not have a function to limit the amount when placing the order.
FXCM provides such functionality for market orders, so you can protect yourself from negative slippage beyond your specified tolerance. On our Trading Station platform, this feature is referred to as Market Range. Below is a video of how it works.

Inserted Video

On FXCM's MT4 platform this same feature is referred to as Maximum Deviation. It's worth noting that on the MT4 platforms of some brokers, the Maximum Deviation feature might not be available at all, and with others if it is available, then it can limit both your negative slippage and your positive slippage equally. By contrast, FXCM enhanced how Max Dev works on our MT4 platform by allowing you to limit your negative slippage while still enjoying the full benefits of any positive slippage, just like with Market Range on Trading Station.

Below are stats compiled from over 43 million trades executed through FXCM from August 2013 to January 2014. In just those six months alone, FXCM clients benefited from over $15 million in positive slippage: http://bit.ly/P6lUzX

  1. 73% of all orders had no slippage.
  2. 15% of all orders received positive slippage.
  3. 12% of all orders received negative slippage.
  4. Over 60% of all limit and limit entry orders received positive slippage.
  5. 53.32% of all stop and stop entry orders received negative slippage.

Quoting justlearning
Ok a bad candle can happen, if it does FXCM should readily investigate and correct no?
Yes, if you are an FXCM client and have questions about the execution of any trade on your live account, you use our online form to file a trade inquiry. Then the Trade Services Team can investigate what happened. If there was an error in our execution, we will make the appropriate correction to your account.
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