FCM Forex info

Dear All Traders,

We start this thread first of all to provide you all the information requested, to get your feedback and improve our services. We welcome your comments and observations over our trading conditions and services.

FCM Forex is a pure STP broker providing FX, Stock Indices and Metals, Agriculture, Energy Commodities. As an STP/ECN broker we continuously trying to provide the best execution and best pricing to our clients. We endeavour to maximise chances for our customers to become profitable and build a long term relation.

Please take some time to have a look at our website http://www.fcmforex.com/. You will find all the relevant information there.

Nevertheless, we would like to refer to the following:

1. We accept deposits by Credit cards, Skrill, Netteller, and Wire Transfer. We do not charge any internal fees. Processing time does not exceed 24 hours on working days.
2. As long as a deposit is accepted then a withdrawal can be processed in less then 24 hours on working days.
3. We have a a big variety of account types, meeting all the kinds of traders' needs. Just contacts us.
4. Our fast execution speed is optimal for EA and High Frequency Traders.
5. Deep and Flexible programs for partners

We look forward to see you trading profitable. You can contact us at [email protected] and Live Chat.

The FCM Forex Team

Check out FCM Forex Blog

Covers all the the latest FX Market Updates and Much More

To visit FCM Forex Blog: http://www.fcmforex.com/blog/

Dear All Traders,

We proudly announce that we provide the following promotion in order for you to get a taste and learn our products and services.

The first 5 clients who will register a live account with FCM Forex and fund it can get a Lower Spread/Professional Account.
Please follow the following steps:

 

1. Open and fund a live account with minimum $200, at http://www.fcmforex.com/trading/fore...tp-broker.aspx
2. Please note that for live account required documents should be submitted.
3. Send an email request to [email protected] mentioning promotion Code (FCM19022016) and comment in this thread that you are interested in for this promotion.

If you are in the first five clients that you have fulfilled these conditions you will receive the lower spread account.

You can just open the live account check the spreads and if you are satisfied you can fund it.

Go to this link to open a live account: http://www.fcmforex.com/trading/fore...tp-broker.aspx

We are looking forward for your comments.

The FCM Forex Team

Today's Daily View : UK BOE Eyed, US Dollar Index Lower on Stronger Commodity Currencies

The US dollar was supported yesterday as expectations for gradual rate hike by Fed have refreshed. The Friday releases of better than expected US Core CPI and CPI has triggered some speculation for Fed rates. In addition, US stocks took it over from where they stopped the previous week and continued their upside on Monday session, increasing risk appetite. The US dollar index, a gauge measuring greenbacks performance against a basket of major currencies, peaked to cap at 97.61. As of typing the US dollar index is retracing back to support at 97.17 amid commodity currencies, the CAD and the Aussie are strengthening, in addition the Yen is recovering.



USDJPY

The Japanese Yen strengthened by comments of the Head of Bank of Japan, Haruhiko Kuroda, who reduced the possibility of further negative rates. That drove the USDJPY to new sell off and a decline towards almost a 4-month low at 110.99. In the intraday the trend is bearish with risk sentiment recovering however the currency pair is approaching a critical support zone. Short positions has high risk while later this week we expect the CPI data for Japan with investors remaining off the USDJPY until Friday.

GBPUSD

The sterling was set under broad bearish pressure on an ongoing discussion about Britains exit from European Union. Moreover, the London Mayor Boris Johnson said that will back the campaign to exit the European Union. The GBPUSD formed a triangle at in the H4 timeframe giving an earlier indication of the downside and now is hovering slightly above an almost 7-year bottom at 1.4063. Today look at the Inflation Report Hearings and MPC member Haldane speech later today.



AUDUSD
In the recent trading session the commodity currencies has been gaining momentum as related commodities were advancing. The Aussie against the US dollar jumped to resistance at 0.7248 as Iron ore and Copper prices have been recovering and risk sentiment holds its gains. In the intraday there is an uptrend with prices likely to keep the upside bias today.



USDCAD
Lastly the USDCAD is supported by rising Oil prices. The Crude Oil April delivery has advanced to a peak at 33.76. The Canadian headline risk this week, is on Wednesday on the Crude Oil inventories and on the BoC speech of Gov. Schembri. The USDCAD has formed a descending triangle in the daily price chart indicating that support at 1.3654 is strong, nevertheless, bearish pressure is also strong and is gradually increasing chances for penetration to lower ground.



View the analysis opn FCMForex Blog: http://www.fcmforex.com/blog/daily-f...ity-currencies

Almost everyone knows the potential that stock markets offer and everyone wants to write their own success story. Lets admit it, the money markets conjure a glamorous notion in all of us. Whether you are thinking about starting up or have spent many years trading in the bourses, the question of which is better market markers or ECN Forex Broker keeps chasing you.

So which is it? Are you better off with seeking investment advice from market markers or are ECN Forex Brokers? To reach a better conclusion, as with everything related to money markets and Forex trading, it is imperative to understand both advisory instruments. After all, it is your hard earned money.

Traditional Forex broker vs. ECN Forex broker
If you gave trading in the stock or Forex markets a shot in the past, chances are, you did so at the advice of a broker. While it sounds like the logical way to proceed, most retail investors have had at least one bad experience with their Forex broker. While the reasons may be many, the primary reason of mistrust between brokers and investors is the opaque nature of the brokering business.

Electronic Communication Networks or ECNs on the other hand, act as a bridge that links smaller market participants, like retail investors, with tier-1 liquidity providers through an ECN Forex Broker using sophisticated technology setup called FIX Protocol (Financial Information Exchange Protocol). The process is far more transparent what you see is what you get. The ECN Forex Broker obtains cash for the transaction from their liquidity provider (a major bank or financial institution), and delivers clients order to them for execution, benefiting from commission fees for each transaction, making it a volumes business for them.

The elements of Forex trade
Markets fluctuate at the slightest hint of news from many quarters central banks, economic reports from finance ministries, news from major financial institutions, etc. Such news can often cause an adverse reaction from the markets. Couple that with the market markers need to cover their positions through their liquidity provider, or by putting a trade into the pool and then cover their position through their liquidity provider equal to their own position, or by just holding on to a position, assuming that it is likely to take a loss anyway, resulting in a process that delivers a relative price of the currency to the investors.

With ECN, the ECN Forex Broker request for a currency at the market price is processed as such at the market price. However, there is the swiftness in the market movements to account for. The split second it takes to decide on buying or selling a currency at a specific price, and putting that market order in, the price often change.
While traditional Forex brokers are not a thing of the past, ECN Forex brokers are a move in the right direction for investors as they get better transparency in their Forex trade positions. That said, some market markers offer a safety net to small investors by guaranteeing no negative balance in their accounts, something that the ECN Fx brokers cannot offer. However, if you are an active foreign exchange trader, ECN is likely to be a more lucrative option with its promise of better transparency and provisions of trading on tight spreads in normal market conditions.

FCM Forex is a pure STP/ECN Broker. Visit our website at www.fcmforex.com

Please check more of FCM Forex articles at http://www.fcmforex.com/blog/

G20 Meeting Eyed, Markets Vulnerable to Risk-Off Revive

The US dollar was up against the European currencies yesterday. However, in immediate Thursday trading session the greenback dipped lower as reflected on the US dollar index amid traders were covering short positions on the EURUSD and GBPUSD. In addition the USDJPY found support and bounce up in anticipation of the G20 gathering in Shanghai on Friday and Saturday. Focus on the meeting of the group of 20 of the largest advanced and developing economies for a possible coordinated action to fight back the risk-off sentiment prevailing in the markets. Should investors get disappointed from G20 meeting outcome then it is likely to see Gold and Yen demand increasing.

XAUUSD
The precious metal formed a symmetrical triangle formation in the H4 time frame with a prevailing uptrend suggesting that will continue its bullish path. The downside attempt was rejected by the 20 MA and provided long repositioning opportunities. We would expect to see climb to resistance at 1253.11, ahead of the 13-month cap at 1262.40. With European equity indices reviving their downside amid “Brexit” fears, lifting risk averse sentiment and Central Banks easing could come into foreground and that would back the Gold.



GBPUSD
The British pound remains under pressure due to worries of “Brexit”. The sterling made fresh lows yesterday against the US dollar. The BOE did not provide much support as Gov. Carney said that could cut the rates to zero if economy weakens, nevertheless he will try to avoid negative rates. The discussion of a potential exit of Britain from Eurozone drags sterling down against its peers, but that is still a speculation, not a fact. Thus, any reversal of sentiment could drive GBPUSD higher. In the price chart the GBPUSD found support at 1.3879 and bounced up to intraday resistance at 1.3963. Should the 1.3963 is breached then the Forex pair could climb to 1.4025, nevertheless that is an anti-trend strategy which engulfs higher risk.



USDJPY
The USDJPY went down to 17-month low support at 110.99 again, where further lows where rejected, suggesting there is a strong downside hurdle there. The Japanese Index, NIKKEI225 ended in positive ground providing support to the USDJPY. Market is vulnerable to risk averse sentiment as the G20 meeting is about to start. Today we look at the US Jobless Claims and US Durable Goods orders, while early on Friday Asian session we focus on the Japan’s CPI report.

USDCAD and GBPCAD
The USDCAD remains in narrow range, forming a descending triangle which increases chances for a downside extension and a downtrend pattern establishment. Everybody looks at Oil prices and expects reversal of the long term downtrend that would strengthen the Loonie. In addition, the Fed does not seem of raising rates any time soon versus Bank of Canada policy outlook that likely to remain stable at next meeting on March 9th. The BoC Schembri said yesterday “our risks and vulnerabilities are much lower than other countries”. The GBPCAD kept extending its downside direction and has reached a fresh 9-month trough at 1.9048.



Please visit our website for more articles: http://www.fcmforex.com/blog/

The confusion is many STP dealers call themselve ECN brokers. STP dealers use a bridge to translate retail clients protocols, for example MT4 to FIX so there is delay and even worse hidden requotes between dealers and their LPs. It seems there is no requotes on the clients' screen because dealers do not tell clients what happened behind the door... However Clients often receive serious slippage and that is all they can see. Do not forget clients pay commision to STP dealers to get screwed. it is a funny thing.

It is difficult to tell the difference between STP dealers and market makers because many dealers are a mix of both. The only thing I understand is that some dealers have a desk and some do not have a dealing desk. Many brokers are ECN, STP and market maker at same time. There is no reason to hunt for newly established "ecn brokers", for example ICmarkets etc. Most big players already offer the same thing. Forex.com for example. Do not expect smaller dealers can offer better services. I admit online forum is often misleading and confusing. Now I only trust UK and US licensed dealers and brokers which have hundreds employees and billions monthly trading volume. The list is short and easy to find.

Only a few brokers can actually match orders of retail traders. There is no advantage for retail traders actually. Imagine one guy send an order to buy 0.1 lot and anther guy to buy 5.17 lots. It must be time consuming to match all orders so it again cause delay and slippage. It is only brokers' interest because they can charge commission for doing this business.

I have heard that market makers trade against clients and they want you to lose. lol. Maybe scam dealers really are doing this. It is more likely another retail trader trade against you, not the dealer. Dealers only have to fill orders. 70% of retail traders are losers so the dealer do not have to do anything extra to get the profit.

Wow, what an ad...

Anyway, market makers are fine for small accounts.

Another marketing article from another bucket shop with magic words - ECN,STP, low spreads, NDD and 100% deposit bonus

An article as old as the hills, maybe found in a time capsule buried in ground under Fidelis desk.

Did not see it is an ad when I post. There are no retail ecn anyway. Only market makers.

Forex is not a centralized market, so you can't escape market making whether you are a retail or an institutional. The only concern of a retail trader is finding a true STP broker with a large liquidity pool. Bridging orders may give a delay of a couple of milliseconds, not a big deal.