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FXCM Discussion

As of October 28, 2016 Sierra Chart now has a new connection model to FXCM which uses a common FIX order routing connection. There is no longer a minimum account balance requirement as previously. This new connection model supports server-side OCO and Bracket orders, extremely simplified connections and long-term order fill history.
..............
5. Once your FXCM Live account or Demo account has been assigned to the Sierra Chart order routing connection, then in Sierra Chart select Global Settings >> Data/Trade Service Settings.

6. In the Service list box select one of the following:

  1. FXCM Live Trading (Standard) - DTC for a FXCM Live standard account.
  2. FXCM Live Trading (DD) - DTC for a FXCM Live Dealing Desk account.
  3. FXCM Demo Trading (Standard) - DTC to use a FXCM Demo standard account which has been assigned to your Sierra Chart account.
  4. FXCM Demo Trading (DD) - DTC to use a FXCM Demo Dealing Desk account which has been assigned to your Sierra Chart account.

Contact FXCM for an understanding of the difference between a Standard and Dealing Desk account.

http://www.sierrachart.com/index.php...XCMTrading.php

TSLA 123.18 30-Dec-22 [213.97 73.71% Fri 02-Jun-23]
Quoting spzd
{quote} To take advantage of this with Sierra Chart you need to have a TS2 account. That is an account based on FXCM's trading station. I know as I recently went through the process to use Sierra Chart. Unsolicited kudos to Sierra Chart. For the price it is hands down the best charting package one can use.
Quoting Phylo
As of October 28, 2016 Sierra Chart now has a new connection model to FXCM which uses a common FIX order routing connection. There is no longer a minimum account balance requirement as previously. This new connection model supports server-side OCO and Bracket orders, extremely simplified connections and long-term order fill history. .............. 5. Once your FXCM Live account or Demo account has been assigned to the Sierra Chart order routing connection, then in Sierra Chart select Global Settings >> Data/Trade Service Settings. 6. In the Service...
Thank you both for sharing your knowledge of Sierra Chart with everyone.
I will be out of the office until Thursday, December 29th and will respond to your posts and private messages when I return. For immediate assistance, you can contact our 24-hour live customer support.

For everyone celebrating Christmas, I wish you a happy one! Happy New Year to all. Here is a link to FXCM's holiday hours for trading and customer support during these holidays: http://bit.ly/2ih7xrW
Quoting Jason Rogers
{quote} {quote} Thank you both for sharing your knowledge of Sierra Chart with everyone.
Need to make a clarification. To trade off Sierra Chart you need to have a TS2 account. I would suggest it anyways as once you use SC you will not want to waste time with MT4. I think the SC forex feed is also via FXCM.
Mark ... Either you understand or you don't, and that is that.
Hi
I am going to open real account in FXCM and already i had demo account. I have used MT4 for trading. Can i use my FXCM MT4 demo account in MT5 ???
Quoting sivafxt
Hi I am going to open real account in FXCM and already i had demo account. I have used MT4 for trading. Can i use my FXCM MT4 demo account in MT5 ???
Welcome to the forum, Siva

While FXCM is investigating the possibility of offering MT5 in the future, MT4 is the only MetaTrader platform we support at this time.
Hi Jason,
any thoughts at FXCM to change Stock Trading commission model in regard to the 9 minimum com.? I see more and more brokers being more flexible in this regard, w/o any min. com. but still able to trade small sizes of stock cfds.

Thanks!
The Essentials of Trading: Emotions, Risk Mgt, Price.
Hi all

I'm new here, just signed up for the mini account, uploaded a few hundred dollars & my account is getting verified.
Excited to play on the EUR/USD soon.

Noob question here
What does the following mean practically "DEALING DESK FOREX EXECUTION MODEL"?

Greetings from BE
Quoting Jason Rogers
{quote} Hi 1greyfox, All our USD- and AUD-denominated MT4 servers have the time zone set to GMT+2 in so midnight on their daily chart candles corresponds to the 5pm New York Close. In order to have an MT4 account on a server set to GMT, it would have to be denominated in either EUR or GBP. Is there a particular reason you want GMT charts? Perhaps I could suggest another solution depending on what you need.
Hi Jason.

Happy New Year to you. I apologize for the delay in replying to your reply, I am just getting started again after enjoying some time off for Christmas and New Year.

The reason I was asking about a GMT close for MT4 was because I am currently involved with a group who use GMT close. I felt that if my charts would match theirs more closely it would be easier for me to share charts with them and they with me. The other reason is I am very comfortable using MT4 and have had several indicators written for me and I didn't want to lose the ability to use them by switching to another platform.

Any suggestions while still having a USD denominated account would be appreciated. I would consider changing my mini account over to the GMT server using another denominated currency as a trial if the Bid/Ask quotes were the same on the chart as in the marketwatch window. How do I make deposits since I would be depositing from the U.S.?

Sorry for all the questions, but I am stepping into uncharted territory and my ignorance is showing.

Thank you for your time.

1greyfox
Hi all,
It seems fxcm has increased the roll-over rate significantly - I am shocked. Not sure it is a glitch or intentional.
On gbpjpy, trader pays $56.44 for a 100k sell position.
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Hi all,

Is there anyone having "Failed to load the chart" errors when using marketscope?
Quoting dmancyu
Hi all, Is there anyone having "Failed to load the chart" errors when using marketscope?
Yes happens from time to time, for unknown reasons. Switching timeframe or market usually helps.
The Essentials of Trading: Emotions, Risk Mgt, Price.
Thanks for the reply Slight. It happens all the time for me in my first day of trading in 2017... I logged a call already and asked FXCM to investigate. It seems the server is not responding to Marketscope only. The mobile app and web version works ok without problem... weird.

Happy New Year and thanks for your help.
Quoting ngson99
Hi all, It seems fxcm has increased the roll-over rate significantly - I am shocked. Not sure it is a glitch or intentional. On gbpjpy, trader pays $56.44 for a 100k sell position. {image} {image} {image} {image}
Hi Ngson,

What time did you take those screenshots on your Trading Station Mobile app? If it was when trading was closed for the New Year's holiday weekend, it's possible the rollover values you saw were placeholders which would have no impact on your open positions. Below are the rollover rates I see currently on my Trading Station Desktop platform. These are the amounts you will earn or pay for open positions in these pairs at 5pm New York Time. Positions closed before 5pm New York Time do not earn or pay rollover interest.
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Quoting Slight
Hi Jason, any thoughts at FXCM to change Stock Trading commission model in regard to the 9 minimum com.? I see more and more brokers being more flexible in this regard, w/o any min. com. but still able to trade small sizes of stock cfds. Thanks!
Hi Slight,

While we have no plans to change our share CFD commission rates at this time, we do keep tabs on our competitors. Once our share CFD offering has gone through its full launch over the course of this year, we may make further enhancements to the product line from commissions to shares offered.
Quoting dmancyu
Hi all, Is there anyone having "Failed to load the chart" errors when using marketscope?
Quoting Slight
{quote} Yes happens from time to time, for unknown reasons. Switching timeframe or market usually helps.
Quoting dmancyu
Thanks for the reply Slight. It happens all the time for me in my first day of trading in 2017... I logged a call already and asked FXCM to investigate. It seems the server is not responding to Marketscope only. The mobile app and web version works ok without problem... weird. Happy New Year and thanks for your help.

This message suggests there could be an error in the cached chart data on your computer. Please try the steps below and let me know if they work for you.

  1. Close your Trading Station platform if it's open.
  2. Go to C:\Program Files (x86)\Candleworks\FXTS2\QuoteStorage
  3. Delete the History folder.
  4. Open Trading Station and your Marketscope charts.


Happy New Year!

Quoting 1greyfox
{quote} Hi Jason. Happy New Year to you. I apologize for the delay in replying to your reply, I am just getting started again after enjoying some time off for Christmas and New Year. The reason I was asking about a GMT close for MT4 was because I am currently involved with a group who use GMT close. I felt that if my charts would match theirs more closely it would be easier for me to share charts with them and they with me. The other reason is I am very comfortable using MT4 and have had several indicators written for me and I didn't want to lose...
Happy New Year, 1greyfox!

You mentioned you use several MT4 indicators, but do still place your trades manually? If so, you could keep your USD-denominated real MT4 account and use a separate demo MT4 account denominated in another currency for GMT charting.

Note your real MT4 account login details also work on all three versions of the Trading Station platform (Desktop, Web and Mobile). Therefore, you could log into the MT4 platform with your GMT demo, and use Trading Station to execute your orders.
Quoting Jason Rogers
{quote} Happy New Year, 1greyfox! You mentioned you use several MT4 indicators, but do still place your trades manually? If so, you could keep your USD-denominated real MT4 account and use a separate demo MT4 account denominated in another currency for GMT charting. Note your real MT4 account login details also work on all three versions of the Trading Station platform (Desktop, Web and Mobile). Therefore, you could log into the MT4 platform with your GMT demo, and use Trading Station to execute your orders.
Hi Jason.

I usually set up my trades using a commercial product as it automatically figures out the trade size based on the parameters I set it for. Since I have a few monitors set up, I guess I could install another copy of MT4(different directory) and have the real account on one monitor and the GMT demo on another monitor.

To get the demo account set up, do I just open MT4, click on file and then choose open an account and choose either the eur or gbp demo server, or do I need to contact support to have them set up the account(hopefully as a non-expiring demo)?

Thank you once again for your time in providing help to me who is sometimes challenged by simple things.

1greyfox
Quoting Limburger
Hi all I'm new here, just signed up for the mini account, uploaded a few hundred dollars & my account is getting verified. Excited to play on the EUR/USD soon. Noob question here What does the following mean practically "DEALING DESK FOREX EXECUTION MODEL"? Greetings from BE
Welcome to the forum, Limburger, and welcome to FXCM

With dealing desk execution (AKA market maker execution), your broker acts as the buyer when you sell and the seller when you buy. Therefore a dealing desk broker faces market risk as a result of entering into trades with you. A profit for you could mean a loss for your broker or vice versa. For this reason, some market makers may use dealer intervention practices such as requoting their clients or widening spreads excessively, but FXCM does not resort to such dealer intervention practices. That's because while FXCM provides dealing desk execution to Mini accounts ($50 minimum opening balance), something which differentiates us from many other forex brokers with a dealing desk is that we also provide No Dealing Desk (NDD) execution to Standard accounts (5k minimum) and Active Trader accounts (25k minimum).

On the NDD model, FXCM offsets each client order one-for-one with the best prices from competing liquidity providers. That means, we don't take the market risk on the side of client trades. Therefore, we don't profit from client losses, or lose from client profits. Furthermore, competition between the liquidity providers ensures NDD prices are market-driven and fair.

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It's worth noting FXCM uses the same base price for dealing desk execution on Mini accounts (before adding the spread markup) as the base price we use for our NDD execution (before adding the commission). If you are trading on dealing desk execution and your trading style exposes us to more risk than we're comfortable with, FXCM may, at our sole discretion and at any time, change your execution type to NDD. This is how FXCM can comfortably offer both execution options without having to resort to dealer intervention practices such as requotes. That's a key reason you can have confidence trading with FXCM regardless of the account type you choose!
Quoting 1greyfox
Since I have a few monitors set up, I guess I could install another copy of MT4(different directory) and have the real account on one monitor and the GMT demo on another monitor.
Yes, that would work.

Quoting 1greyfox
To get the demo account set up, do I just open MT4, click on file and then choose open an account and choose either the eur or gbp demo server, or do I need to contact support to have them set up the account(hopefully as a non-expiring demo)?
Is your real account a Standard account or a Mini account? I can set you up with the appropriate demo account with matching spreads on the MT4 charts. Our demos expire after 30 days of inactivity, but if you use them, they will remain active.

Quoting 1greyfox
Thank you once again for your time in providing help to me who is sometimes challenged by simple things.
It's my pleasure and I'm sure others found your questions helpful as well.
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