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FXCM Discussion

  • #7,861
  • Jul 17, 2015 9:38am Jul 17, 2015 9:38am
Quoting nonlinear
Catman, did you download bars based on the bid?
YES
  • #7,862
  • Jul 17, 2015 11:02am Jul 17, 2015 11:02am
In many years, this is the first time that it happen, leverage lowered at 20:1 (from 100:1) without any notice, out of nowhere.

Not really a professional attitude.
  • #7,863
  • Jul 17, 2015 4:00pm Jul 17, 2015 4:00pm
Quoting tunera
In many years, this is the first time that it happen, leverage lowered at 20:1 (from 100:1) without any notice, out of nowhere. Not really a professional attitude.
Hi Tunera,

I'm not aware of any recent increase in the margin requirements (reduction in available leverage) like you describe for any of the products we offer. When did you notice this and for what product?
  • #7,864
  • Jul 18, 2015 5:12am Jul 18, 2015 5:12am
Quoting Jason Rogers
{quote} Hi Tunera, I'm not aware of any recent increase in the margin requirements (reduction in available leverage) like you describe for any of the products we offer. When did you notice this and for what product?
Hello Jason,

You are right, it was a mistake of mine.

I was trading usdchf (i trade chf pairs very rarely) and i noticed that the "leverage" was of around 20x instead of the usually 100x, what i mean:

Usdchf margin requirements are 50eur for every k of open positions, this mean 1000/50=20x leverage.
I thought this was something strange as i usually see better margin requirements (for example the fx majors that i usually trade have a mr of 10eur/1k, aka 100x leverage), but i see now it's perfectly normal.

http://www.fxcm.com/uk/markets/forex...-requirements/

Different pairs different margin requirements.

Sorry for my previous post, just a mistake
  • #7,865
  • Jul 19, 2015 10:17pm Jul 19, 2015 10:17pm
Hi There

I have a trade explorer setup for my FXCM account and another for an account I have with another company. The one I have setup with the other company show the correct balance to the dollar and commisions etc. But the FXCM one is completely off, I have tired deleteing it and readding it but it is still off. Are there any account keeping fees that I don't know about that I am being changed? or extra commisions or something that I'm unaware of that would cause this?
Learning is all about about asking the right questions!
  • #7,866
  • Jul 20, 2015 8:13am Jul 20, 2015 8:13am
Quoting reeeen4
Hi There I have a trade explorer setup for my FXCM account and another for an account I have with another company. The one I have setup with the other company show the correct balance to the dollar and commisions etc. But the FXCM one is completely off, I have tired deleteing it and readding it but it is still off. Are there any account keeping fees that I don't know about that I am being changed? or extra commisions or something that I'm unaware of that would cause this?
Hi Reeeen,

The current version of Trade Explorer is not compatible with FXCM accounts, but Forex Factory tells us that their next version will be. I encourage you to contact Forex Factory directly to let them know of your interest in this update to Trade Explorer: http://www.forexfactory.com/contact.php
  • #7,867
  • Jul 20, 2015 10:42am Jul 20, 2015 10:42am
Quoting tunera
{quote} Hello Jason, You are right, it was a mistake of mine. I was trading usdchf (i trade chf pairs very rarely) and i noticed that the "leverage" was of around 20x instead of the usually 100x, what i mean: Usdchf margin requirements are 50eur for every k of open positions, this mean 1000/50=20x leverage. I thought this was something strange as i usually see better margin requirements (for example the fx majors that i usually trade have a mr of 10eur/1k, aka 100x leverage), but i see now it's perfectly normal. http://www.fxcm.com/uk/markets/forex...-requirements/...
No worries, Tunera

I appreciate you sharing this update
  • #7,868
  • Jul 20, 2015 11:42am Jul 20, 2015 11:42am
Quoting Jason Rogers
{quote} Hi Edyraper, Since 2007, FXCM has provided NDD execution to forex traders around the world. However, the maximum leverage we offer on this execution type is 100:1 to magnify gains and losses (50:1 in the US). In response to demand from traders for more leverage, we recently introduced an new DD alternative that offers up to 400:1 leverage in certain regions. You mentioned that you're trading on a demo account and noticed delays in your order execution when trying to close trades during major news events like NFP. The first reason you can...
Hi sir , sorry for delayed answer
I use FXCM-USDDemo02 Metatrader4 , already holding open 5 charts . which was same on NFP day , no Objects on my chart , just one profit Tracker runing as an indicator on my chart , I dont use VPS , no automated strategies . Sorry but I am really considering about that error when I tried to close my positions , as I mentionet honestly my broker right now It's not fast It's not ECN broker but it would never error me when opening/closing positions . and I have some questions about transfering money in/out from my account to my bank , shall I ask it here or ask in private ?
  • #7,869
  • Jul 20, 2015 4:02pm Jul 20, 2015 4:02pm
Quoting edyraper
I dont use VPS
Since you live in Turkey, and our MT4 servers are in the US, you might want to consider using a VPS to improve your connection. It's free to clients with an acocunt balance of least $5000: http://bit.ly/1RluTMw

Quoting edyraper
no automated strategies
Another option, if you don't use any automated strategies, is to consider using the Trading Station platform instead of MT4: http://bit.ly/1TMYbl1

You may find you prefer it for manual trading. Your current demo login details will work on both platforms.

Quoting edyraper
Sorry but I am really considering about that error when I tried to close my positions , as I mentionet honestly my broker right now It's not fast It's not ECN broker but it would never error me when opening/closing positions
And as I mentioned previously, since you were trading on a demo account, the most likely reason for the errors you received is a poor connection from your computer to our servers. Our tech support team would be happy to troubleshoot this problem for you. If you send me a private message with your contact details, I can arrange a follow up for you.

Quoting edyraper
and I have some questions about transfering money in/out from my account to my bank , shall I ask it here or ask in private ?
Since funding questions would be specific to your account, you can include those in your private message to me.
  • #7,870
  • Jul 21, 2015 8:04am Jul 21, 2015 8:04am
Only US traders don't have the negative balance protection? Why did FXCM stop offering negative balance protection to US traders only?
  • #7,871
  • Edited 11:31am Jul 21, 2015 11:14am | Edited 11:31am
Quoting tasco
Only US traders don't have the negative balance protection? Why did FXCM stop offering negative balance protection to US traders only?
Based on CFTC Regulation 5.16 no Retail Foreign Exchange Dealer, Futures Commission Merchant or Introducing Broker may in any way represent that it will guarantee against losses: http://www.ecfr.gov/cgi-bin/text-idx...5_116&rgn=div8

This rule applies to all US-regulated forex brokers. So if you're trading forex in the US, the capitalization of your broker becomes all the more important. Below are the latest capital figures for US-regulated forex brokers (RFEDs) as reported to the CFTC.

Attached Image


The minimum regulatory capital requirements for FXCM operations worldwide are $84.2 million. However, we have regulatory capital of $284.8 million, a surplus of over $200 million: http://bit.ly/10Pq5FJ
  • #7,872
  • Jul 21, 2015 12:13pm Jul 21, 2015 12:13pm
Jason,

What is the retail obligation amount?
  • #7,873
  • Jul 21, 2015 12:27pm Jul 21, 2015 12:27pm
Quoting MoreYummy
Jason, What is the retail obligation amount?
That's the amount clients have on deposit with their broker. This figure is only for our US entity. Globally, FXCM has $1.0 billion in customer equity: http://bit.ly/10Pq5FJ
  • #7,874
  • Jul 21, 2015 12:33pm Jul 21, 2015 12:33pm
its the reporting requiremtns for all entities regulated by nfa?
  • #7,875
  • Jul 21, 2015 12:38pm Jul 21, 2015 12:38pm
Quoting MoreYummy
its the reporting requiremtns for all entities regulated by nfa?
It's a CFTC regulation. Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) AKA forex brokers must file monthly financial reports with the Division of Swap Dealer and Intermediary Oversight (DSIO).
  • #7,876
  • Jul 21, 2015 4:10pm Jul 21, 2015 4:10pm
Jason,

I probably know the answer, but any update on showing accurate bid/ask lines on MT4 for FXCM UK? Think you mentioned mid-July for a fix.
  • #7,877
  • Jul 21, 2015 4:56pm Jul 21, 2015 4:56pm
Quoting philtre71
Jason, I probably know the answer, but any update on showing accurate bid/ask lines on MT4 for FXCM UK? Think you mentioned mid-July for a fix.
Hi Philtre,

Our developers are still running some more tests on their solution. I posted this update earlier in the month and will keep you posted: http://www.forexfactory.com/showthre...08#post8373408
  • #7,878
  • Jul 21, 2015 5:53pm Jul 21, 2015 5:53pm
Hey Jason, just curious if you know when the next update will come as to how the loan repayment to Leucadia is going? thank you!

also as far as the class action lawsuit, is there any way you could estimate the minimum or maximum financial damage that could cause?
  • #7,879
  • Jul 23, 2015 5:20am Jul 23, 2015 5:20am
I am just aware of the "new" rule when withdrawing fund from fxcm uk. i was told that I cannot withdraw more 80% of the equity if I have opened trades
Can someone explain the reason behind it please?
For me, it's a totally useless rule. why? here's how:
say my equity is 39,000; used margin is 475; usable margin 38,525.
I have 25k trade size of audusd, 5k usdchf
I want to withdraw 31,000 (less than 80% of the equity). Currently even I have adjusted the withdrawal amount to less than 80% of the equity (initially I wanted to withdraw nearer to 32K) I still received this text

**
Please be advised of the following:


Your account has insufficient funds and/or open position(s). All withdrawal requests are subject to review based on the following: available balance, floating profits/losses, and number of open positions. At this time your account does not have sufficient usable margin to withdraw the amount you requested. To resubmit your withdrawal request for a different amount, please log in to www.MyFXCM.com.

**
The thing I find un-reasonable is let say the withdrawal is processed. I will then have
My equity is 8,000; used margin is 475; usable margin 7,525.

I then will be able to withdraw again (up to 80% of the equity), I can close and/or open trades as I see fit...
So I don't see the meaning of the rule.
  • #7,880
  • Jul 23, 2015 10:44am Jul 23, 2015 10:44am
Quoting ngson99
I am just aware of the "new" rule when withdrawing fund from fxcm uk. i was told that I cannot withdraw more 80% of the equity if I have opened trades Can someone explain the reason behind it please? For me, it's a totally useless rule. why? here's how: say my equity is 39,000; used margin is 475; usable margin 38,525. I have 25k trade size of audusd, 5k usdchf I want to withdraw 31,000 (less than 80% of the equity). Currently even I have adjusted the withdrawal amount to less than 80% of the equity (initially I wanted to withdraw nearer to 32K)...
Hi Ngson99,

Just to clarify, this is not a new rule. It's been in place for awhile, but it's possible you never made a withdrawal large enough to hit the 80% equity limit while having open trades. You rightly point out you can make a subsequent withdrawal after the first to withdraw 80% of your remaining equity. Just keep in mind that this is designed as a safety measure so your account does not become overleveraged on your open positions due to a withdrawal.

If you need to make a larger withdrawal than the automated system on MyFXCM.com will allow, then you can email [email protected] with your specific request.
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