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  • #8,681
  • Edited 2:45pm Mar 1, 2016 2:12pm | Edited 2:45pm
Quoting Jason Rogers
{quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} {quote} Attention MT4 traders with USD-denominated Standard accounts We have updated the MT4 charts on server FXCM-USDReal09 to reflect the raw FX spreads available to you for trading on our No Dealing Desk (NDD) forex execution. Thank you for your patience with this process. If you have any questions, please let me know.
So live charts will now show the actual spread? That's great if they do - I'll be moving my account back from Trading Station then. Do I need to do anything special or will they just put me on the server that shows the right prices?

Can you define NDD: FXCM is in no way a counterparty to my transaction and is simply acting as broker passing my order to the liquidity pool?
If so, what is the liquidity pool my order is being passed too?
How is FXCM's financial stability at this point?


Thank you -


EDIT: One more question - on the website, on the Spreads & Commissions page, it says, "Compensation: When executing customers trades, FXCM can be compensated in several ways, which include, but are not limited to: charging fixed lot-based commissions at the open and close of a trade, adding a markup to the spreads it receives from its liquidity providers for certain account types, and adding a markup to rollover." What are the "certain account types" that receive markups on the spreads? Is this solely in reference to the Dealing Desk execution or are Non Dealing Desk executions subject to markups as well?

Thank you,
  • #8,682
  • Edited 9:13pm Mar 1, 2016 8:09pm | Edited 9:13pm
Quoting JMaurice
{quote} So live charts will now show the actual spread? That's great if they do
Yes JMaurice, whether you have a standard account or a mini account, FXCM has MT4 charts that can display the pricing available to you.

Quoting JMaurice
I'll be moving my account back from Trading Station then. Do I need to do anything special or will they just put me on the server that shows the right prices?
The form links in my previous post are for existing USD MT4 account holders to switch their accounts to a server displaying chart pricing for their account type (Mini or Standard) http://www.forexfactory.com/showthre...01#post8784701

If your current FXCM account is set up to work with Trading Station only (note that MT4 account logins work with Trading Station too) then instead of using the forms I provided, you should email our Operations department at [email protected] and request that your account be converted into a Standard MT4 account on server FXCM-USDReal09.

Quoting JMaurice
Can you define NDD: FXCM is in no way a counterparty to my transaction and is simply acting as broker passing my order to the liquidity pool?
All forex brokers are the counterparties of their clients, regardless of the execution models they offer. These brokers are also the counterparties of their liquidity providers. That's because individual retail traders cannot be direct counterparties to the liquidity providers themselves.

It's important to understand that being your counterparty says nothing about the execution model on offer.

On our No Dealing Desk (NDD) forex execution, FXCM offsets 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 profit from your trading volume via the commission.

Quoting JMaurice
If so, what is the liquidity pool my order is being passed too?
FXCM's liquidity providers include global banks, financial institutions, prime brokers, and other market makers. FXCM LLC currently has 16 liquidity providers:
Attached Image (click to enlarge)
Click to Enlarge Name: liquidity-providers-logo-group-desktop.jpg Size: 134 KB

Each liquidity provider streams through a direct feed of executable buy and sell prices to FXCM. FXCM's No Dealing Desk Price Engine selects the best buy price and the best sell price, which result in the best available spread. There is no markup added to FXCM's Standard No Dealing Desk account type, making our spreads transparent and some of the lowest in the industry.
Attached Image (click to enlarge)
Click to Enlarge Name: liquidity-providers-figure-1-desktop.jpg Size: 129 KB

When a trader places an order through FXCM's NDD system, an exact matching order is sent from FXCM to the liquidity provider that is providing the best price. For example, a buy order in the example above would go to liquidity provider #2. To the liquidity provider, all orders appear as Market Orders from FXCM and contain no information about the trader. Since your stops, limits, and your entry orders are invisible to these price providers, we create an environment free of price manipulation. When we combine this with no re-quote trading you have the opportunity to confidently trade all market conditions, even during key news events.

Quoting JMaurice
How is FXCM's financial stability at this point?
As one of the only retail forex brokers in the world that's also a publicly-traded company (NYSE ticker: FXCM) regulated on three continents, we make our global financial data more easily accessible to traders than do the vast majority of other firms in the industry, which are smaller, privately-held companies.

As of November 5, 2015:

  1. Adjusted Q3/15 revenues of $59.6 million
  2. Adjusted EBITDA from continuing and discontinued operations of $5.2 million
  3. $254.3 million in operating cash
  4. $713.2 million in customer equity
  5. 178,273 active retail FX accounts
  6. Regulatory capital surplus of $85.1 million

FXCM's financials are audited by Ernst & Young, which is one of the top four ranked accounting firms in the world.

Quoting JMaurice
on the Spreads & Commissions page, it says, "Compensation: When executing customers trades, FXCM can be compensated in several ways, which include, but are not limited to: charging fixed lot-based commissions at the open and close of a trade, adding a markup to the spreads it receives from its liquidity providers for certain account types, and adding a markup to rollover." What are the "certain account types" that receive markups on the spreads? Is this solely in reference to the Dealing Desk execution or are Non Dealing Desk executions subject...
FXCM doesn't add any markup to the spreads we receive from liquidity providers on our NDD model. An example where an account might be charged a markup on NDD pricing is if a client set up the account under an introducing broker that added their own markup as compensation for some value-added service such as premium charting or trading signals. An introducing broker wanting to add such a markup to the spread would have to disclose this to their client as part of the account opening documentation, so the client can make an informed decision on whether they want to pay extra for the service provided.
  • #8,683
  • Mar 1, 2016 8:46pm Mar 1, 2016 8:46pm
FXCM Reports Spread Data for 2015

EUR/USD Spread Averaged 0.3 during Peak Trading Hours in 2015
EUR/USD Spread .1 or less 8.32% in 2015


Today we reported our worldwide average spread data on several of the top currency pairs.

The data were compiled using the average spread for standard accounts during peak market trading hours as well as non-peak trading hours. We also looked at the percentage of time spreads were .1 pip or less, at any time of the day.

Below are the data for EUR/USD, and you can see the info for other pairs in the full report.


75% of EUR/USD orders and volume in 2015 across all FXCM entities were traded during Peak Trading Hours
(1am EST 1pm EST from January 1, 2015 to December 31, 2015, excluding weekends)


Average Spread During Peak Trading Hours: 0.3 pips (rounded up from 0.292)

  1. Total round trip cost = 0.3 spread + $0.04 + $0.04 commission = $0.11 all in cost per 1K lot
  2. Total round trip cost = 0.3 spread + $0.40 + $0.40 commission = $1.10 all in cost per 10K lot
  3. Total round trip cost = 0.3 spread + $4.00 + $4.00 commission = $11.00 all in cost per 100K lot


Average Spread during Non-Peak Trading Hours: 0.6 pips (rounded up from 0.553)

  1. Total round trip cost = 0.6 spread + $0.04 + $0.04 commission = $0.14 all in cost per 1K lot
  2. Total round trip cost = 0.6 spread + $0.40 + $0.40 commission = $1.40 all in cost per 10K lot
  3. Total round trip cost = 0.6 spread + $4.00 + $4.00 commission = $14.00 all in cost per 100K lot


Percent of time .1 or less 2015: 8.32%

  1. Total round trip cost = 0.1 spread + $0.04 + $0.04 commission = $0.09 all in cost per 1K lot
  2. Total round trip cost = 0.1 spread + $0.40 + $0.40 commission = $0.90 all in cost per 10K lot
  3. Total round trip cost = 0.1 spread + $4.00 + $4.00 commission = $9.00 all in cost per 100K lot


Commissions shown in trade cost calculations represent accounts with a base currency of USD and are for most standard account holders. However, FXCM does offer discounted commissions at various levels for high-volume traders trading over $50 million in notional volume monthly or with account balances of over $25K.

  • #8,684
  • Mar 1, 2016 9:10pm Mar 1, 2016 9:10pm
Jason - thank you very much for this long response.
  • #8,685
  • Mar 2, 2016 6:17am Mar 2, 2016 6:17am
thanks for letting us know. Will give it a try! -Jason
  • #8,686
  • Mar 2, 2016 1:25pm Mar 2, 2016 1:25pm
How is it with USD demo accounts? Do they have same spread on marketwatc/charts?
Regards
  • #8,687
  • Edited 5:44pm Mar 2, 2016 5:31pm | Edited 5:44pm
Quoting Elovv
How is it with USD demo accounts? Do they have same spread on marketwatc/charts? Regards
Hi Elovv,

Currently all our USD-denominated MT4 demo accounts display an all inclusive spread on the charts. I will let you know once we have updated one of our USD demo servers to reflect our raw FX spreads on MT4 charts. It should be soon, and in the meantime you can use one of our EUR-denominated demos to see MT4 charts with our NDD pricing.

Be sure to select EUR as your currency on our MT4 demo registration page.
  • #8,688
  • Mar 2, 2016 8:17pm Mar 2, 2016 8:17pm
Quoting Jason Rogers
{quote} Hi Elovv, Currently all our USD-denominated MT4 demo accounts display an all inclusive spread on the charts. I will let you know once we have updated one of our USD demo servers to reflect our raw FX spreads on MT4 charts. It should be soon, and in the meantime you can use one of our EUR-denominated demos to see MT4 charts with our NDD pricing. Be sure to select EUR as your currency on our MT4 demo registration page.
Jason, please let me know also. I currently have a demo account running on USDDemo02

Thanks
How many people here have telekenetic powers?...raise my hand
  • #8,689
  • Mar 3, 2016 9:31am Mar 3, 2016 9:31am
Quoting Jason Rogers
{quote} {quote} {quote} Thanks for your feedback regarding Trading Station Desktop and Trading Station Mobile. I've shared it with our software developers.
Jason,

Is there any news regarding these comments about MarketScope?

I still need to use MT4 in order to trade. That's not efficient.


We need to :

- Interact with objects in the charts.
- Stay in an intended DateTime when we change the TimeFrame. (MT4 has a marker called "FIXED CHART POSITION")
- Specify a DateTime we want to go to, instead of scrolling back or forward.
- History, history, history, lots of history for each TF. I'm Very pleased with ~15000 bars in the charts, but history must have as much data as it is available in the servers. Millions of bars when it comes to one minute charts. It's ok to place a limit of ~15000 bars for chart visualization, but it's not ok limiting history to that number. We need to have the whole history stored locally, and being able to use it. So if the user needs to go beyond the current dataset, (~15000 bars) marketscope should dynamically load and unload data, into and from the chart.

And please, make it easier for us to code for MarketScope. As I said before, I like having tons of bars in my charts, but I can't perform a proper analysis without my customized tools, and those tools must interact with objects.
  • #8,690
  • Mar 3, 2016 7:26pm Mar 3, 2016 7:26pm
Quoting WestCoastCat
{quote} Jason, please let me know also. I currently have a demo account running on USDDemo02 Thanks
Hi WestCoastCat,

I will make a post in this thread when the charts on your MT4 demo server have been updated to reflect the raw FX spreads from our No Dealing Desk (NDD) execution.
  • #8,691
  • Mar 3, 2016 7:37pm Mar 3, 2016 7:37pm
Quoting jsr
{quote} Jason, Is there any news regarding these comments about MarketScope? I still need to use MT4 in order to trade. That's not efficient. We need to : - Interact with objects in the charts. - Stay in an intended DateTime when we change the TimeFrame. (MT4 has a marker called "FIXED CHART POSITION") - Specify a DateTime we want to go to, instead of scrolling back or forward. - History, history, history, lots of history for each TF. I'm Very pleased with ~15000 bars in the charts, but history must have as much data as it is available in the servers....
Hi Jsr,

While there are currently no plans to add those particular features to Marketscope, I greatly appreciate your feedback. New features are added to the platform based on the level of client demand. That's why our most recent update took into account popular requests like stop limit orders: http://www.forexfactory.com/showthre...92#post8677592

You previous posts seem to suggest that the functionality you want is already available on MT4. FXCM gives clients the choice of multiple trading platforms for this very reason, because each platform has unique strengths. Is there a particular reason, you didn't want to use MT4 for your trading?
  • #8,692
  • Mar 3, 2016 9:04pm Mar 3, 2016 9:04pm
Quoting Jason Rogers
{quote} Hi Jsr, While there are currently no plans to add those particular features to Marketscope, I greatly appreciate your feedback. New features are added to the platform based on the level of client demand. That's why our most recent update took into account popular requests like stop limit orders: http://www.forexfactory.com/showthre...92#post8677592 You previous posts seem to suggest that the functionality you want is already available on MT4. FXCM gives clients the choice of multiple trading...
First, MT4 charts show less than 2000 bars. The other reason is that after reading several complaints in the past about execution in MT4, I preferred to use TragingStation/Marketscope. Maybe it is an unreasonable bias, but that's it.
  • #8,693
  • Mar 4, 2016 6:20am Mar 4, 2016 6:20am
Quoting jsr
{quote} First, MT4 charts show less than 2000 bars. The other reason is that after reading several complaints in the past about execution in MT4, I preferred to use TragingStation/Marketscope. Maybe it is an unreasonable bias, but that's it.

Hi jsr.

To see more bars on the chart you can go to tools and then click on options and then adjust how many bars you want in history and to be displayed on the chart.

1greyfox
Attached Image
  • #8,694
  • Mar 4, 2016 7:25am Mar 4, 2016 7:25am
Quoting 1greyfox
{quote} Hi jsr. To see more bars on the chart you can go to tools and then click on options and then adjust how many bars you want in history and to be displayed on the chart. 1greyfox {image}
My bad.

I meant "at once". In marketscope I can see simultaneously up to to ~15000 in the chart.
In MT4 I can load all the history I want, but less than 2000 bars are shown in the screen simultaneously.
  • #8,695
  • Mar 6, 2016 9:40am Mar 6, 2016 9:40am
When I've compared fxcm's spreads vs Oanda (which is the other broker I'm considering) FXCM's spreads always seem a little better...but this is looking at demo accounts and web sites that track these things. I do have a question though. It seems FXCM requires you to choose a platform....you can't bounce around between metatrader (if you're looking at automated signals), ninja trader and their Trading Station? Seems odd that my regular broker allows you to view your account on multiple platforms whereas it appears FXCM requires you to choose.
  • #8,696
  • Mar 7, 2016 12:45am Mar 7, 2016 12:45am
Quoting sw88
{quote} How's the spread in demo compared to real time?
FXCM spreads in demo are differrent from the spreads in real accounts. Sometimes the differences goes even up to more than 20 pips. How on earth can |I rely on such difference?
  • #8,697
  • Mar 7, 2016 9:26am Mar 7, 2016 9:26am
......
Quoting francmorio
{quote} FXCM spreads in demo are differrent from the spreads in real accounts. Sometimes the differences goes even up to more than 20 pips. How on earth can |I rely on such difference?
Myself and many other traders have mentioned the same thing here repeatedly.
I have been running an EA on LCG and FXCM on demo today to see how both will react. I am trying FXCM because of the low spread.
FXCM is a complete mess. Slippage and what I call a deliberate attack on the EA is how FXCM is dealing with it.
LCG on the other hand is a smooth run.
I have said it numerous times that FXCM is perhaps the biggest scam broker out there. They advertise low spreads , BUT completely fucks up on demo. The demo is supposed to be a mirror of the live acc , but somehow they do not care.
I will NEVER ever trade with them as they are out to trade completely against their clients.....
If you want to lose your deposit just go ahead and trade with them.
FXCM is using every single trick in the book to deplete your acc with their plugins which is design to take your money.
If only the regulators will do more to investigate them........
Do not let them fool you with low spreads. Stay far away from this broker. remember they have a stock price to look after and debt to pay back. It is absolutely in their interest to show profit for themselves....
Never Ever Give Up!
  • #8,698
  • Mar 7, 2016 9:46am Mar 7, 2016 9:46am
Quoting Cobra
Do not let them fool you with low spreads.

...
Attached Image
  • #8,699
  • Mar 7, 2016 3:49pm Mar 7, 2016 3:49pm
Quoting Cobra
...... {quote} Myself and many other traders have mentioned the same thing here repeatedly. I have been running an EA on LCG and FXCM on demo today to see how both will react. I am trying FXCM because of the low spread. FXCM is a complete mess. Slippage and what I call a deliberate attack on the EA is how FXCM is dealing with it. LCG on the other hand is a smooth run. I have said it numerous times that FXCM is perhaps the biggest scam broker out there. They advertise low spreads , BUT completely fucks up on demo. The demo is supposed to be a mirror...

+1 What he said

Patience is best EA in Trading
  • #8,700
  • Mar 7, 2016 3:58pm Mar 7, 2016 3:58pm
Quoting cepwin
It seems FXCM requires you to choose a platform....you can't bounce around between metatrader (if you're looking at automated signals), ninja trader and their Trading Station? Seems odd that my regular broker allows you to view your account on multiple platforms whereas it appears FXCM requires you to choose.
Hi Cepwin,

I'm glad you asked this question, because you can trade on multiple platforms with your FXCM account. For example, if you select MT4 as your platform on our account application, then you can use MT4 Desktop, MT4 Mobile, Trading Station Desktop, Trading Station Web and Trading Mobile all on the same account.

If you select NinjaTrader, then you can trade using that platform in addition to TS desktop, mobile and web.

Which platforms interested you?
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