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Attachments: FXCM Discussion
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FXCM Discussion

Quoting TmhwkTrades
{quote} First time post here, I've been lurking and researching. Trying to figure out which broker to go with - if not FXCM, who should a US citizen go with?
I don't live in the US, so I have a bit more freedom to choose a broker. I like so far GlobalPrime, but it's too early to be certain.
I really don't know which might be convenient for you. There are many threads about it, so keep investigating. Open a demo with your would-be broker and monitor the the actual spreads. Many, like FXCM, publish low spreads that in practice are 3 or 4 times.
Choosing a broker is a matter of choosing the least worst. Good luck with that.
Quoting Singha83
Hello Jason, I read your off until 09/26. Please answer this when you get back. What EST does daily candles begin in daylight savings time and in non daylight savings time? I get confused and need to settle this once and for all, lol. I live in the PST and it confuses the snap out of me. Thanks.
1700 EST, 1700 EDT.
Mark ... Everything you have been told is a LIE
Quoting keen246
Many, like FXCM, publish low spreads that in practice are 3 or 4 times.
Can you give some examples of which instruments have spreads that are 3-4 times expected/published spreads?
Quoting zznbrm
{quote} Can you give some examples of which instruments have spreads that are 3-4 times expected/published spreads?
Easy. Check FXCM's published "typical" spreads on their webpage. Then, open TS2 and observe the spreads go up and down. Observe for a while and you'll notice that the published spread is the exception and the actual average is 3-4 times as much.
What is worst, is that when you enter a trade, the entry price can be sometimes 6 or more pips (I've seen up to 12 pips on no news times). And no, that is not slippage!
People find that hard to believe until they open a real account and start to see their tricks in play. When you request an explanation about the tricks, support says it's your computer who has a mind on its own and is playing with you. LOL. They really assume retail traders are stupid.
Quoting keen246
{quote} Easy. Check FXCM's published "typical" spreads on their webpage. Then, open TS2 and observe the spreads go up and down. Observe for a while and you'll notice that the published spread is the exception and the actual average is 3-4 times as much. What is worst, is that when you enter a trade, the entry price can be sometimes 6 or more pips (I've seen up to 12 pips on no news times). And no, that is not slippage! People find that hard to believe until they open a real account and start to see their tricks in play. When you request an explanation...
I'm not seeing what you are seeing. Here are the spreads for the past 5 hours on EUR/USD. Look pretty good to me.
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Quoting zznbrm
{quote} I'm not seeing what you are seeing. Here are the spreads for the past 5 hours on EUR/USD. Look pretty good to me. {image}
Trade LIVE with them long enough and you'll see what I mean.
Quoting keen246
{quote} Trade LIVE with them long enough and you'll see what I mean.
I do have a live account with them and I don't see the things you are referring to...I think you are exaggerating.
Quoting zznbrm
{quote}Can you give some examples of which instruments have spreads that are 3-4 times expected/published spreads?
Quoting zznbrm
{quote}I do have a live account with them and I don't see the things you are referring to...
Maybe they don't have a Standard or Active trader accounts like us, I guess spreads might be much higher in mini/micro accounts but I'm not sure on the amount they claim. It should really be disclosed what exact instrument they were trading and account type, but we'll probably never know or maybe they were mistakenly news trading. In that case, lol...
Quoting zznbrm
{quote} I do have a live account with them and I don't see the things you are referring to...I think you are exaggerating.
You don't have an alive account and assume I'm exaggerating? LOL! I DO have a REAL account, hence I know what I'm talking about. I'm not assuming or naively wishing.
I opened the real account after demo trading with them for several months. Everything was smooth, good spreads..... I was sold, so I opened my real account and after a few months, I started to notice the tricks.
But don't take my word. Keep assuming and wishing I'm exaggerating and open a live account. Sometimes we just need to learn the hard way.
Quoting keen246
{quote} You don't have an alive account and assume I'm exaggerating? LOL! I DO have a REAL account, hence I know what I'm talking about. I'm not assuming or naively wishing. I opened the real account after demo trading with them for several months. Everything was smooth, good spreads..... I was sold, so I opened my real account and after a few months, I started to notice the tricks. But don't take my word. Keep assuming and wishing I'm exaggerating and open a live account. Sometimes we just need to learn the hard way.
I am live trading with them as well and do not have any problems until now.
Although I can not judge on your individual story, considering a demo account experience comparable to live trading is independent of the broker pretty naive.
Hi Jason
Can I have different passwords for myfxcm portal and my trading account?
Quoting keen246
You don't have an alive account and assume I'm exaggerating? LOL! I DO have a REAL account, hence I know what I'm talking about. I'm not assuming or naively wishing.
Sorry I assumed English was your native language...it seems you are having some trouble understanding what I wrote. When I said "I do have a live account with them" I actually meant that I do have a live account with them. I can see how that might have been confusing to you.

Anyhow...it is clear that you are on some type of crusade to discredit FXCM. I don't buy your claims and I am calling your bluff.

Not all is lost...you are good for a few laughs.
Jason,
Could you look at my post towards the bottom here, http://www.forexfactory.com/showthre...303347&page=12 and tell me what you think about an Mt4 EA is trying to load into my TSII file? I can't understand this. See the attached screen shot of my file. All three of these EA are trying to run on TSII and I don't understand it. Can you help?
Thank you.
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Quoting Singha83
Hello Jason, I read your off until 09/26. Please answer this when you get back. What EST does daily candles begin in daylight savings time and in non daylight savings time? I get confused and need to settle this once and for all, lol. I live in the PST and it confuses the snap out of me. Thanks.
Hi Singha,

To clarify, EST stands for Eastern Standard Time. This time zone will be in effect for New York City and most of the eastern United States from 6 November 2016 to 12 March 2017. Currently, New York (like most of the US) is on Daylight Savings Time and the current time zone here is called Eastern Daylight Time (EDT). Incidentally, you are currently on Pacific Daylight Time (PDT), not Pacific Standard Time (PST), since most of the western United States is also observing Daylight Savings Time until November 6th.

Quoting spzd
{quote} 1700 EST, 1700 EDT.
As Spzd said, when New York is on EST, then daily candles on Trading Station (Desktop, Mobile and Web) begin and end at 5pm or 1700 EST, and when New York is on EDT (like it is now), then daily candles begin and end at 5pm or 1700 EDT. To think of it more simply, the daily candles on Trading Station always begin and end at 5pm New York Time. Therefore, the daily candles on Trading Station always begin and end at 2pm in your Pacific Time zone.

MT4 users should keep in mind things work differently for their charts. With the MT4 platform, the time when daily candles begin and end depends on the server time zone. The daily candles will always begin and end at midnight (00:00) server time. Most traders prefer daily candles that begin and end at 5pm New York Time, since this is the end of the 24-hour trading day in the global forex market.

For this reason, the majority* of FXCM's MT4 servers are currently set to a time zone of GMT+3, because midnight on this time zone is 5pm New York Time. Note that when Daylight Savings Time in the US ends on November 6th, the time zone on these MT4 servers will be changed to GMT+2, so that midnight on these MT4 charts stays in sync with 5pm New York Time.

There is a free Custom Time Zones indicator on FXCM Apps you can use to display the time zone of your choice on MT4 charts. Note this will not change the server time zone or when the daily candles begin and end.


* MT4 servers for accounts denominated in GBP and EUR are set to GMT year round, so daily candles begin and end at midnight (00:00) GMT.
Quoting zznbrm
{quote} Sorry I assumed English was your native language...it seems you are having some trouble understanding what I wrote. When I said "I do have a live account with them" I actually meant that I do have a live account with them. I can see how that might have been confusing to you. Anyhow...it is clear that you are on some type of crusade to discredit FXCM. I don't buy your claims and I am calling your bluff. Not all is lost...you are good for a few laughs.
I'm warning potential REAL retail traders about this scam. If someone does the due diligence and google a bit, will find several threads and posts about FXCM and their fraudulent practices.
Obviously, you and some others on this thread are like Jason: paid FXCM posters trying to get new traders for their bucket shop. This business is plagued with people just taking advantage of newbies. I guess you're also a guru in some other threads, aren't you?
Quoting keen246
{quote} I'm warning potential REAL retail traders about this scam. If someone does the due diligence and google a bit, will find several threads and posts about FXCM and their fraudulent practices. Obviously, you and some others on this thread are like Jason: paid FXCM posters trying to get new traders for their bucket shop. This business is plagued with people just taking advantage of newbies. I guess you're also a guru in some other threads, aren't you?
BOLD statement, which post shows your evidence . i was seriosuly considering them..
Quoting keen246
{quote} I'm warning potential REAL retail traders about this scam. If someone does the due diligence and google a bit, will find several threads and posts about FXCM and their fraudulent practices. Obviously, you and some others on this thread are like Jason: paid FXCM posters trying to get new traders for their bucket shop. This business is plagued with people just taking advantage of newbies. I guess you're also a guru in some other threads, aren't you?
Hi Keen,

No less than 5 times have I reached out to you offering to investigate problems you reported, but so far I have yet to receive the necessary details from you by private message or email (jrogers AT fxcm DOT com) to proceed:

  1. http://www.forexfactory.com/showthre...54#post8957554
  2. http://www.forexfactory.com/showthre...80#post9009280
  3. http://www.forexfactory.com/showthre...82#post9015282
  4. http://www.forexfactory.com/showthre...65#post9040165
  5. http://www.forexfactory.com/showthre...89#post9079389


You can see from my 7 years of participation on the forum that I'm here to help our clients with any problems they encounter. If you're simply here to troll our thread or you're a competitor, then you probably won't send any information and I wish you all the best. If you truly are a live or demo client, then I look forward to receiving more details by private message or email to help investigate your specific situation.

Quoting zznbrm
{quote} I'm not seeing what you are seeing. Here are the spreads for the past 5 hours on EUR/USD. Look pretty good to me. {image}
Quoting Aad
{quote} {quote} Maybe they don't have a Standard or Active trader accounts like us, I guess spreads might be much higher in mini/micro accounts but I'm not sure on the amount they claim. It should really be disclosed what exact instrument they were trading and account type, but we'll probably never know or maybe they were mistakenly news trading. In that case, lol...
Quoting Drolph
{quote} I am live trading with them as well and do not have any problems until now. Although I can not judge on your individual story, considering a demo account experience comparable to live trading is independent of the broker pretty naive.
Hi Everyone,

Thank you for sharing your own personal experiences and confirming that the spreads you have received on your live FXCM accounts is both fair and competitive as shown here: http://www.forexfactory.com/brokers.php#spreads

Aad, regarding your comment about our Mini account spreads, while those spreads are wider than the No Dealing Desk (NDD) forex spreads available to you on a Standard or Active Trader account, that is because Mini accounts are charged a fixed pip markup that is included in their spread, instead of a separate commission.

It's worth noting that the base price used for DD execution on Mini accounts before adding the spread markup is the same base price used for NDD forex execution with the spread+commission pricing model on Standard and Active Trader accounts. That's a key reason you can have confidence trading with FXCM regardless of the account type you choose.
Quoting knockroe
Hi Jason Can I have different passwords for myfxcm portal and my trading account?
Hi Knockroe,

Is there a particular reason you want these passwords to be different? For example, are you looking to manage an account for someone else, or have someone else manage an account for you?
Quoting Jason Rogers
{quote} Hi Keen, No less than 5 times have I reached out to you offering to investigate problems you reported, but so far I have yet to receive the necessary details from you by private message or email (jrogers AT fxcm DOT com) to proceed: http://www.forexfactory.com/showthre...54#post8957554 http://www.forexfactory.com/showthre...80#post9009280 http://www.forexfactory.com/showthre...82#post9015282 http://www.forexfactory.com/showthre...65#post9040165 http://www.forexfactory.com/showthre...89#post9079389...
Jason,
I spent several months sending FXCM support samples of the multitude of issues I found on TS2. I sent to David Khandrius ("Level II Technical Specialist", LOL) and others several Log files and screenshots of the issues. Pages of full explanations of the occurrences that showed clearly the problems.

First, I reported the issues to my FXCM "representative" who used to call me every other week suggesting me to deposit more money ( I have standard Acc). I said I wouldn't until all the issues were solved. Guess what....he stopped calling. What does it tell you?
Then another representative put me in contact with David. He also suggested I should deposit more money and buy a VPS service and made me lose tons of time sending him logs and stuff. After some months, he said he would send the information to the developers as he didn't have any idea what could be the cause of all the issues reported (which conveniently only worked against me and made lose money). He said "..it's strange...you're the only client reporting such issues..". I googled and found several post of traders complaining about the same issues.
When I told him I was going to stop using my live account until I had a solution, he stopped answering my emails. What does it also tell you?

As said to you before, as you're not involved on the development of TS2, I don't think you can solve the issues. I'm an engineer with deep understanding of computers programming, low an high level, so I consider myself qualified enough to know how to configure TS2. It's not rocket science.

As maybe I mentioned before, everything on the live account went smooth for a while. It was after some months that the all the issues started to appear at the same time, which pretty much leads to think FXCM flipped the switch to screw my platform.

So, I'm not here to troll. I'm here to warn people about FXCM, as per my experience (and many other traders on other forums) FXCM play tricks on people's accounts. You can ban me if you want, but I'll continue warning people about FXCM and their non-ethical practices.
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