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FXCM Discussion

  • #8,941
  • Apr 21, 2016 6:21pm Apr 21, 2016 6:21pm
Quoting Elovv
Hi all! I see many think FXCM manipulates MT4. I havent seen it (yet). I always stop trading with a brooker and withdraw my money if I think so Often when I start a new strategi I use several brookers and compare them. If something strange on one of them, I leave. For now i test a EA strategi via tradecopier from a demo to 5 brookers. Use a tradecopier for give exact same orders to them all. After a month or so I can leave the worst and transfer founds to the best.
Thanks for sharing your experience, Elovv

My sincere belief is that many times when a trader feels our platform did them wrong, it's due to a misunderstanding about the platform functionality. Common themes include a misunderstanding of the off quotes message on MT4 (which is designed to protect traders from unwanted negative slippage) or how to read the MT4 charts which display either our raw FX spreads for Standard accounts, or the all inclusive spreads for Mini accounts, depending on the particular MT4 server you're using.

If there's ever an error in our trade execution, our clients can file a trade inquiry, and FXCM will make the appropriate correction to their accounts.
  • #8,942
  • Apr 21, 2016 8:21pm Apr 21, 2016 8:21pm
Jason,
How come myfxbook does not display the spread of XAUUSD for fxcm?
Also your free vps offer is from which provider, spec? what is the latency?

lastly, does signing using an IB to get discount valid for all your offices e.g. UK, AUS?

Does standard account has re-quotes or do I get the best price for market order?

Thanks
  • #8,943
  • Apr 22, 2016 1:26am Apr 22, 2016 1:26am
Quoting Jason Rogers
{quote} Thanks for sharing your experience, Elovv My sincere belief is that many times when a trader feels our platform did them wrong, it's due to a misunderstanding about the platform functionality. Common themes include a misunderstanding of the off quotes message on MT4 (which is designed to protect traders from unwanted negative slippage) or how to read the MT4 charts which display either our raw FX spreads for Standard accounts, or the all inclusive spreads for Mini accounts, depending on the particular MT4 server you're using. If there's...
But its not possible to have USD demo with same spread on marketwatch/chart as USD Standardaccount. I hope You fix it soon.

If there is an error on trade execution from a brooker, I file a trade inquiri and leave that brooker. I only trade with brooker that not cause problem for me. Cant understand why people who not trust there brooker stay with them.
  • #8,944
  • Apr 22, 2016 1:44am Apr 22, 2016 1:44am
Quoting Jason Rogers
{quote} Hi 9jatrader, US regulations limit forex leverage to 50:1. Therefore, higher amounts of leverage are only available to FXCM clients living outside the US. Specifically, Mini accounts ($50 account opening minimum) with equity less than 10k can have up to 400:1 forex leverage; between 10k and 20k up to 200:1.* Standard accounts (2k minimum) all use No Dealing Desk (NDD) forex execution and can have up to 100:1 leverage outside the US. Note that leverage magnifies gains and losses. For more information on how to use effective leverage, here's...
It's so clear to me now. I really appreciate.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -5.3%
  • #8,945
  • Apr 22, 2016 4:29am Apr 22, 2016 4:29am
Quoting Jason Rogers
{quote} Hi 9jatrader, US regulations limit forex leverage to 50:1. Therefore, higher amounts of leverage are only available to FXCM clients living outside the US. Specifically, Mini accounts ($50 account opening minimum) with equity less than 10k can have up to 400:1 forex leverage; between 10k and 20k up to 200:1.* Standard accounts (2k minimum) all use No Dealing Desk (NDD) forex execution and can have up to 100:1 leverage outside the US. Note that leverage magnifies gains and losses. For more information on how to use effective leverage, here's...
Thanks so much for the information. Does FXCM allow OCO order?
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -5.3%
  • #8,946
  • Apr 22, 2016 10:04am Apr 22, 2016 10:04am
Quoting Jason Rogers
{quote} Hi Goma, I'm not aware of a technical reasons why the minimum stop move for our fixed trailing stops is 10 pip. That doesn't mean there isn't one, but I'm happy to pass on your request to our developers either way. I assume you're already aware that our dynamic trailing stops allow you to have a stop move of 0.1 pips but wanted to mention it anyway just in case.
Hi Jason,
I'm also having trouble to execute my strategy with the restriction of minimum Fixed 10 pips trailing. Is there any plans from the developers to remove such an inconvenient restriction?
Regards,
Keen246
  • #8,947
  • Edited 2:23pm Apr 22, 2016 2:10pm | Edited 2:23pm
Quoting reddevil
Jason, How come myfxbook does not display the spread of XAUUSD for fxcm?
Hi Reddevil,

Thanks for bringing this to my attention. My guess is they are using an FXCM US account to get these live quotes, and US traders cannot trade gold (XAU/USD), silver (XAG/USD) or the other CFD products FXCM offers due to US regulations. I'll follow up with Myfxbook to make sure they get access to our pricing for metals, stock indices, energy products and share CFDs to display these spreads on their website in addition to forex.

Quoting reddevil
Also your free vps offer is from which provider, spec? what is the latency?
FXCM offers free VPS options from 2 providers for accounts with a 5k balance. Their specs are below and you can get latency stats from their websites.

FXColo.com

  1. Memory: 2,560 MB
  2. Disk Space: 40 GB
  3. OS: Windows Server 2008 R2, 32 Bit


BeeksFX.com

  1. Memory: 1,680 MB
  2. Disk Space: 30 GB
  3. OS: Windows 2012 Server Datacenter Edition


Quoting reddevil
lastly, does signing using an IB to get discount valid for all your offices e.g. UK, AUS?
Different regulations apply to each of FXCM's global trading entities. For example, FXCM UK is regulated by the FCA in London, while FXCM Australia is regulated by ASIC in Sydney. As a result, the particular introducing brokers (IBs) that can open accounts with FXCM vary from one trading entity to the next.

I notice your forum profile mentions you live in New Zealand. That means, if you would like to access FXCM's platforms and services, you must set up your trading account with Halifax New Zealand, which is regulated by the FMA in Wellington.

If you have a particular IB in mind, you will need to confirm whether they can open an account for you with Halifax New Zealand. If you would like me to arrange a follow up for you regarding this or the VPS options with Halifax in case they are different, feel free to send me a PM with your contact details.

Quoting reddevil
Does standard account has re-quotes or do I get the best price for market order? Thanks
I thought that was your last question.

There are no re-quotes with FXCM. Standard accounts trade on our No Dealing Desk (NDD) forex execution where each client order is offset one-for-one with the best prices from competing liquidity providers.


PS: Are you a Manchester United supporter?
  • #8,948
  • Edited 3:25pm Apr 22, 2016 2:39pm | Edited 3:25pm
Quoting Elovv
{quote} But its not possible to have USD demo with same spread on marketwatch/chart as USD Standardaccount. I hope You fix it soon.
Me too. I've already put in a request to our techs about this, and it's in their queue. I will let you know when one of our USD MT4 demo servers is updated to reflect the raw FX spreads available to Standard accounts.

Quoting Elovv
If there is an error on trade execution from a brooker, I file a trade inquiri and leave that brooker. I only trade with brooker that not cause problem for me. Cant understand why people who not trust there brooker stay with them.
We strive to provide all traders with excellent service, and continuously look for ways to improve our platforms. Trust is key, but if you are demanding perfection, you may find yourself running out of brokers, and car makers, and restaurants.

I believe what's important is how FXCM works with traders to resolve issues should they arise. My goal is for you to be a long term client of ours, and I hope you will reach out to me, if you have any questions or concerns regarding your account with us.
  • #8,949
  • Apr 22, 2016 2:50pm Apr 22, 2016 2:50pm
Quoting 9jatrader
{quote} It's so clear to me now. I really appreciate.
It's my pleasure, 9jatrader

Quoting 9jatrader
{quote} Thanks so much for the information. Does FXCM allow OCO order?
Yes, we do! See the videos below:

  1. Simple OCO Orders
  2. Complex OCO Orders

  • #8,950
  • Apr 22, 2016 6:59pm Apr 22, 2016 6:59pm
Hi Jason,

Please check this FXCM account: https://www.myfxbook.com/members/Alg...ailing/1373958

Why his commission per 1k is 2 cent, but mine per 1k is 4 cent?

thanks,

LR
  • #8,951
  • Apr 23, 2016 8:25pm Apr 23, 2016 8:25pm
Quote
PS: Are you a Manchester United supporter?

Yes.

Regardless which FXCM entity a trader signed up with, will he get the same feed? Otherwise a demo needs to be done on the entity that a trader intend to sign up with.

Most IB that I know are with FXCM uk, why is a trader not allowed to signed up with entity from other jurisdiction?. The difference is only a mouse click away.
  • #8,952
  • Apr 24, 2016 11:00pm Apr 24, 2016 11:00pm
Jason,
do you have an email that I can contact with further questions?
Thanks.
  • #8,953
  • Apr 24, 2016 11:33pm Apr 24, 2016 11:33pm
Jason, how exactly does FXCM calculate our required margin? Every margin calculator I've tried uses the following formula below to figure out the required margin, but they are way off. What other formula variable is FXCM adding? This is throwing my trade spreadsheet off...

Try these margin calculators and compare them to an FXCM USD demo trade (on EURUSD):

http://www.myfxbook.com/forex-calcul...gin-calculator
http://www.fxpro.co.uk/trading/calculators/margin
https://www.oanda.com/forex-trading/...gin-calculator

They use:

Account Currency:
Currency Pair Traded:
Current Price (base currency):
Margin Ratio:
Trade size:

- Normal margin formula:

({trade size} / {margin ratio}) * current base price)

Required Margin = Trade Size / Leverage * account currency exchange rate (if different from the base currency of the pair traded).

Example: Trading 3 lots of EUR/USD using 1:200 leverage with an account denominated in USD.

Trade size: 300,000
Account currency exchange rate (current price): 1.13798
Required Margin: 300,000 / 200 * 1.13798 = $1706.97

- Normal margin formula for metals:

({trade size} / {margin ratio}) * current base price)

Required Margin = Trade Size (0z) / Leverage * Market Price.

Example: Trading 1 lot (100 Oz) of GOLD using 1:200 leverage with an account denominated in USD.

Trade size = 100 Oz
Market price (current price) = 1235.90
Required Margin: 100 / 200 * 1235.90 = $617.95
  • #8,954
  • Apr 25, 2016 6:56am Apr 25, 2016 6:56am
Quoting Jason Rogers
{quote} A solution has already been implemented for our non-USD MT4 servers. The fix for US dollar-denominated MT4 accounts is still pending, but I'll let you know when I have more information on that. In the meantime, to see chart prices that match what you already see in the Market Watch window of the platform, you can try one of our Euro-denominated MT4 demos. Note that this issue only affects charts on the MT4 platform, not Trading Station, NinjaTrader, Mirror Trader of any of the other platforms FXCM offers....

Any update on this? Idea on when the servers will be fixed? I dont see how anyone would want to trade with FXCM through MT4 if the charts aren't displaying the correct information.
  • #8,955
  • Apr 25, 2016 12:48pm Apr 25, 2016 12:48pm
Hi Jason, I'm trying to make an ACH deposit into FXCM, but it keeps failing, and my bank is telling me that it's an issue on your end. My FXCM assigned rep tells me that you are investigating the issue, but I haven't heard anything in a while. Can you give me a status update on when this will be fixed?
  • #8,956
  • Apr 25, 2016 2:29pm Apr 25, 2016 2:29pm
Quoting littleart
Hi Jason, Please check this FXCM account: https://www.myfxbook.com/members/Alg...ailing/1373958 Why his commission per 1k is 2 cent, but mine per 1k is 4 cent? thanks, LR
Hi LR,

For privacy reasons, I can't discuss specific details about any client's account here on the forum. However, I can confirm that if you are paying 4 cents commission per 1k, then you are trading on our Standard account commissions. You may be interested to know about FXCM's Active Trader program which provides high volume traders with discounted commissions.
  • #8,957
  • Apr 25, 2016 3:33pm Apr 25, 2016 3:33pm
Quoting Aad
Jason, how exactly does FXCM calculate our required margin? Every margin calculator I've tried uses the following formula below to figure out the required margin, but they are way off.
Hi Aad,

Your calculations are off, because you are assuming that we set your margin requirement to be exactly 1% for major currency pairs where you have up to 100:1 leverage and exactly 0.5% for CFDs where you have up to 200:1 leverage. That is not the case.

Since you have a USD-denominated trading account with us, we fix your margin requirements in US dollar terms, and these margin requirements don't change due to minor fluctuations in the exchange rate. They are updated only in the case of large exchange rate movements, in which case we notify you by email of the latest margin requirements, and you can always see these in the MMR column of your Trading Station.

Quoting Aad
What other formula variable is FXCM adding
While there is no other formula variable, we add a small buffer to the margin requirement for currency pairs and CFDs where USD is not the base currency (eg. AUD/USD and XAU/USD), since you have a USD-denominated trading account. If you had an AUD-denominated trading account, then we would add a small buffer to the margin requirement for currency pairs and CFDs where AUD is not the base currency (eg. USD/JPY and EUR/USD).

Quoting Aad
This is throwing my trade spreadsheet off...
Instead of using a formula to calculate your margin requirements, you should simply type in the values you see in the MMR column on Trading Station. A formula is not necessary, because our margin requirements don't fluctuate day-to-day. They are updated only in the case of significant exchange rate movements, in which case we will notify you by email of the latest margin requirements.
  • #8,958
  • Apr 25, 2016 3:35pm Apr 25, 2016 3:35pm
Quoting Hungy1
{quote} Any update on this? Idea on when the servers will be fixed? I dont see how anyone would want to trade with FXCM through MT4 if the charts aren't displaying the correct information.
Hi Hungy1,

Our MT4 chart solution has already been implemented. That means whether you have a Mini or Standard account, you can now trade your USD-denominated trading account with MT4 charts that reflect the spreads available to you. If you complete the form below, your MT4 account can be set up with the appropriate charts:

  1. MT4 Chart Update for FXCM UK Clients
  2. MT4 Chart Update for FXCM US Clients

  • #8,959
  • Apr 25, 2016 3:41pm Apr 25, 2016 3:41pm
Quoting ecafyelims
Hi Jason, I'm trying to make an ACH deposit into FXCM, but it keeps failing, and my bank is telling me that it's an issue on your end. My FXCM assigned rep tells me that you are investigating the issue, but I haven't heard anything in a while. Can you give me a status update on when this will be fixed?
Hi Ecafyelims,

I have not heard of any issues with ACH deposits from our other clients, and I am happy to follow up with our Operations department to investigate why you have had difficulty. Please send me a private message referencing the email address we have on file for your account, and I will look into this for you.
  • #8,960
  • Apr 25, 2016 3:48pm Apr 25, 2016 3:48pm
Quoting Jason Rogers
{quote} Hi Ecafyelims, I have not heard of any issues with ACH deposits from our other clients, and I am happy to follow up with our Operations department to investigate why you have had difficulty. Please send me a private message referencing the email address we have on file for your account, and I will look into this for you.
PM Sent. Thanks Jason
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