FXCM Discussion | Page 431 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/JPY

Similar Threads

FXCM with Sierra Charts - Discussion and alternatives 8 replies

Elliott Waves discussion 4 replies

FXCM gets another CFTC fine, while Drew Niv leaves FXCM UK board 17 replies

Euro/Dollar discussion 9 replies

Forward Testing Discussion Thread 241 replies

Attachments: FXCM Discussion
Exit Attachments

FXCM Discussion

  • #8,601
  • Feb 7, 2016 9:02pm Feb 7, 2016 9:02pm
Hi Jason,

This is a screenshot of my FXCM real account. As shown in the data window, the ask price for EURUSD is 1.11368. However, the ask line ( the red line) on the chart is at 1.11374, why is that ? Why isn't the ask line at 1.11368 ?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 70 KB
  • #8,602
  • Feb 7, 2016 9:48pm Feb 7, 2016 9:48pm
Quoting pooh123
Hi Jason, This is a screenshot of my FXCM real account. As shown in the data window, the ask price for EURUSD is 1.11368. However, the ask line ( the red line) on the chart is at 1.11374, why is that ? Why isn't the ask line at 1.11368 ? {image}
hey man, i asked the same thing awhile ago.

If your on a USD account, standard account ECN not the 'mini' account. Some reason they do not have chart data/feed for their ECN right now. Supposed to be in the works.
So while your market orders with be filled at the tighter spread shown in the window on the left (or the one-click trading box), the bid/ask line and candles are still hooked to their 'mini' account feed with wider dealing desk spreads. If I'm not mistaken.

Its only on MT4 i think. And i think only USD funded accounts.

You can use Trading Station Desktop or Web will have accurate charts. You can even view charts on ask bars. Cant do that on anyones MT4 I know of.

Im looking forward to the update.
  • #8,603
  • Feb 8, 2016 12:13am Feb 8, 2016 12:13am
Quoting RideTheWave
{quote} hey man, i asked the same thing awhile ago. If your on a USD account, standard account ECN not the 'mini' account. Some reason they do not have chart data/feed for their ECN right now. Supposed to be in the works. So while your market orders with be filled at the tighter spread shown in the window on the left (or the one-click trading box), the bid/ask line and candles are still hooked to their 'mini' account feed with wider dealing desk spreads. If I'm not mistaken. Its only on MT4 i think. And i think only USD funded accounts. You can...
Thank you sir for the explanation.
  • #8,604
  • Feb 8, 2016 8:55am Feb 8, 2016 8:55am
Anybody have a problem with order scripts on MT4. When eve I place a script pertaining to orders it is removed instantly. I normally use Pending order scripts to buy and sell, and scripts to close trades, as well for BE. Seems to be disabled?
  • #8,605
  • Feb 8, 2016 10:25am Feb 8, 2016 10:25am
Quoting budhead
Anybody have a problem with order scripts on MT4. When eve I place a script pertaining to orders it is removed instantly. I normally use Pending order scripts to buy and sell, and scripts to close trades, as well for BE. Seems to be disabled?
Hi Budhead,

Welcome to the forum!

I'd be happy to check the settings on your MT4 account. If this is a real account, please send me a private message stating the email address we have on file for your account. If this is a demo account, please send me a private message stating your demo login details.

Thanks,
Jason
  • #8,606
  • Feb 8, 2016 11:46am Feb 8, 2016 11:46am
My bad, EA/DLLs were unchecked. Thanks
  • #8,607
  • Feb 8, 2016 12:38pm Feb 8, 2016 12:38pm
Quoting budhead
My bad, EA/DLLs were unchecked. Thanks
Great, thanks for the update!
  • #8,608
  • Feb 8, 2016 2:58pm Feb 8, 2016 2:58pm
Quoting Jason Rogers
{quote} Great, thanks for the update!
Hi Jason,

Would you mind checking out my posts here
http://www.forexfactory.com/showthre...27#post8737527
http://www.forexfactory.com/showthre...46#post8736746

thanks
  • #8,609
  • Feb 8, 2016 3:27pm Feb 8, 2016 3:27pm
Hi Jason,

I'm sure you remember your best friend allisonmagic

I have a question for you my friend. Since FXCM was bailed out by the government during the CHF drama, Would you consider FXCM a government funded entity from that point on ? Also, Was FXCM ever a single entity ? And if FXCM is government funded, would you offer your clients a bailout considering FXCM did not protect any of it's clients from this chaotic period which would be justified in the form of a government grant ?
  • #8,610
  • Feb 8, 2016 3:39pm Feb 8, 2016 3:39pm
Quoting allisonmagic
Hi Jason, I'm sure you remember your best friend allisonmagic I have a question for you my friend. Since FXCM was bailed out by the government during the CHF drama, Would you consider FXCM a government funded entity from that point on ? Also, Was FXCM ever a single entity ? And if FXCM is government funded, would you offer your clients a bailout considering FXCM did not protect any of it's clients from this chaotic period which would be justified in the form of a government grant ?
i don't think FXCM got bail out by any goverment , they bail themselves out
  • #8,611
  • Feb 8, 2016 3:40pm Feb 8, 2016 3:40pm
Quoting PoundTrader
{quote}i don't think FXCM got bail out by any goverment , they bail themselves out

They did. It was on the news

https://www.google.com/search?q=fxcm...utf-8&oe=utf-8
  • #8,612
  • Feb 8, 2016 4:37pm Feb 8, 2016 4:37pm
Quoting allisonmagic
{quote} They did. It was on the news https://www.google.com/search?q=fxcm...utf-8&oe=utf-8
Leucadia National Corp IS NO GOVERMENT AGENCY
  • #8,613
  • Feb 8, 2016 4:44pm Feb 8, 2016 4:44pm
Quoting PoundTrader
{quote}Leucadia National Corp IS NO GOVERMENT AGENCY
also it was a loan http://www.cnbc.com/2015/05/08/fxcm-...-windfall.html
  • #8,614
  • Edited 6:15pm Feb 8, 2016 5:45pm | Edited 6:15pm
Quoting PoundTrader
{quote}Leucadia National Corp IS NO GOVERMENT AGENCY
Quoting PoundTrader
{quote}also it was a loan http://www.cnbc.com/2015/05/08/fxcm-...-windfall.html
You are correct, PT

Below is a quote from our CEO Drew Niv commenting on the Leucadia loan in a Q&A with Finance Magnates last year:

"As a regulated broker we are required to notify our regulators in a timely manner when any event occurs that may be deemed sensitive to clients. When we notified the regulators, they required FXCM Inc.'s regulated entities to supplement their respective net capital on an expedited basis.


"We explored multiple debt and equity financing alternatives in an effort to meet the regulator's deadline. The deal we ended up doing with Leucadia was the only deal that could and would happen in the very short timeframe we were given by the regulators. The CEO and the president of Leucadia were here in the office working on the deal.


"It was a tall order for someone outside of the FX industry to come in and write a $300 million dollar check. This was the type of thing only top management could do. But they see the sustainability of FXCM, and that was everyone's end goal. We really are very thankful to Leucadia. The deal enables us to live and fight another day and gives us time to build shareholder value in the future."



Our plan is to repay the loan with proceeds from the sale of non-core assets, and we anticipate repaying the loan in full in the second quarter of this year. The image below is a bit dated (we have already sold both FXCM Hong Kong and FXCM Securities), but it shows the non-core assets we have sold or intend to sell.

Attached Image (click to enlarge)
Click to Enlarge Name: DTfLu3b.jpg Size: 161 KB
  • #8,615
  • Edited Feb 9, 2016 1:27pm Feb 8, 2016 6:57pm | Edited Feb 9, 2016 1:27pm
Quoting djxput
A few questions on using fxcm as a spreadbetting company. How is fxcm compared to other providers. I like my current provider but am thinking about a change.
Hi Djxput,

Is there any particular change you are looking for in a new spread betting provider?

Quoting djxput
1. What are the spreads on some common pairs? Or when trading the dax,dow,ftse?
You can see our live spreads with a spread betting demo account.

Quoting djxput
2. Does fxcm offer options and binarys?
We do not offer binary options or other options trading. FXCM offers spot trading in forex, metals, energy products, stock indices and share CFDs.

Quoting djxput
3. I see there are various platforms; do fxcm spreads depend on which platform is used? trading station, meta trader, etc ...?
FXCM supports trading in more platforms than I can even name. The spreads are the same whether you use Trading Station or MT4. However, there may be some other 3rd party platforms that charge some additional fees, but those would be platform-specific. If you are interested in using a specific trading platform other than Trading Station or MT4, please let me know, and I'll get you the relevant information.

Quoting djxput
4. I'd most likely like to try it out using a demo account first - now Ive never used MT4 but also like the looks of the trading station can you use both when trading or must you stick with one or another? any problems with using this broker for spread betting? thanks
FXCM MT4 account holders have access to both Trading Station and MT4 with their account login details. For example, some traders use MT4 to automate trading strategies with Expert Advisors, and use Trading Station to place their manual trades on the same account. The demo link I provided you above is for an FXCM MT4 spread betting demo account.

Quoting djxput
any problems with using this broker for spread betting? thanks
Quoting djxput
oh and I see the standard account uses a no-dd and the mini uses a dd. In practical sense how does that affect trading?
Unlike some spread betting providers, FXCM provides the same trading execution options to our spread betting clients as we do to our non-spread betting clients.

In order to trade on our No Dealing Desk (NDD) forex execution, you must set up a standard FXCM account, and the minimum to open this account type is 2k. However, with as little as $50, you can open a mini account on DD execution. What sets us apart from some brokers offering a DD option is that we also offer an NDD option to our clients.

Transparency has always been at the core of everything we offer at FXCM. While other brokers don't tell you what the restrictions are with their execution and you end up finding the hard way, FXCM provides you all the information you need to make the right decision and have an excellent trading experience that meets your expectations.

On the DD option, we will face market risk as a result of entering into trades with clients. Because of this risk, FXCM needs to implement certain restrictions* during news events. Additionally, we may take steps to mitigate the risk arising from market making more effectively by transferring your underlying account to our NDD offering.

That means, we don't have to resort to the dealer practices about which you have expressed concerns, and you can have confidence in trading your FXCM account regardless of the account type you choose.


* The typical 2-5 pip minimum distance from current market rate for stop and limit orders on DD accounts could increase to upwards of 10 pips. Note that NDD accounts with FXCM have no such restrictions regarding order placement.
  • #8,616
  • Feb 9, 2016 1:19am Feb 9, 2016 1:19am
Quoting Jason Rogers
{quote} {quote} You are correct, PT Below is a quote from our CEO Drew Niv commenting on the Leucadia loan in a Q&A with Finance Magnates last year: "As a regulated broker we are required to notify our regulators in a timely manner when any event occurs that may be deemed sensitive to clients. When we notified the regulators, they required FXCM Inc.'s regulated entities to supplement their respective net capital...
  • #8,617
  • Edited 11:03am Feb 9, 2016 8:18am | Edited 11:03am
Hi Jason! I'd like some information regarding FXCM's programming services. Are you still offering the services? If I want my EA for the mt4 platform to be coded, how much will it be? How about 2 EAs with different entry strategies but the same exit strategy? How soon can the work be finished? How long do you offer support for (fixing the EA after I try it out)? Can the EAs coded by FXCM be used on other brokers' mt4 platforms as well?
  • #8,618
  • Feb 9, 2016 5:32pm Feb 9, 2016 5:32pm
Quoting laalaa
Hi Jason! I'd like some information regarding FXCM's programming services. Are you still offering the services? If I want my EA for the mt4 platform to be coded, how much will it be? How about 2 EAs with different entry strategies but the same exit strategy? How soon can the work be finished? How long do you offer support for (fixing the EA after I try it out)? Can the EAs coded by FXCM be used on other brokers' mt4 platforms as well?
Yes Laalaa, FXCM offers Programming Services: Pricing and time will depend on the project specifications. My colleagues would be happy discuss these with you and give you a free quote. You can email them at Consulting [AT] FXCM (dot) Com. The details they will need from you are the following:

- Indicators used
- Price patterns (if needed)
- Money management logic (stops, limits, trade size calculation, etc)
- Entry logic
- Exit logic
- Any other information you believe is relevant
  • #8,619
  • Feb 10, 2016 1:49am Feb 10, 2016 1:49am
Dear Jason Rogers,

A week ago, in post # 8,561, I asked & stated "Why not mine? Recently I found this thread in FF and have seen some of your postings. I hope you will be able to tell me this is a simple oversight error, and that FXCM will definitely take care of this situation, treat me right, and support in turn the clients who supported you before.".

You have given no acknowledgment, much less a reply. Perhaps something that I wrote rubbed you the wrong way. If so, I apologize; and would appreciate if you would man up, put that behind you, and reply.

Of course I want my money back, to be in the same condition as those other less-supportive clients who never lost their money because they couldn't be cross-cleared because their other accounts were with other brokers. Even in the aggregate, this can't be a big number for FXCM. Please do the right thing.

Thanks.
  • #8,620
  • Feb 10, 2016 5:56am Feb 10, 2016 5:56am
Quoting Jason Rogers
{quote} Hi Djxput, Is there any particular change you are looking for in a new spread betting provider? .
Hi Jason. thanks for replying ...

Not really sure what Im looking for that is different that what Im using; perhaps more reliability with spreads/reliability with the trading system (theirs has gone down on occasion). And better charts. And a better firm. The whole CHF debacle doesnt bother me much in regards to fxcm in particular heck many firms had issues. I think I read how interactive brokers 4 main accounts were at fault for most of their losses that they were trying to chase up.

anyways ... I really like the looks of the charts so far; do they save your trendlines that you draw day to day?
21 traders viewing now