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  • #6,801
  • Jan 28, 2015 2:58pm Jan 28, 2015 2:58pm
Quoting Jason Rogers
{quote} Hi Naddmer, Thanks for sharing those charts. If you had a live trade the was stopped out by that spike, I encourage you to file a trade inquiry so the Trade Services Team can investigate what happened.
The amount stopped out in that move was worth a pizza.
If you like your pizza, you can keep your pizza.

As I said, I already moved the most of my account from FXCM to another broker.

If I didn't, then the amount stopped out would be worth more than twenty pizzas which would really start to bother me.

In other words: Get your fscking act together. NOW!
Or I will use my ten pizzas still at FXCM to fsck with FXCM while making profits at $OTHERBROKER.

Quoting Jason Rogers
If there was an error in our execution, we will make the appropriate correction to your account. That said, I would like to address your concerns about our execution. If there were any doubts before, it should be pretty clear now that FXCM does not benefit when clients lose on our NDD model. We don't hunt stops, because we have nothing to gain from you losing on a trade. We make money from your trading volume, not your losses. Furthermore, we will continue to offer our clients NDD execution.
Yaddayaddayadda. Do ... don't talk.

Exept FXCM has no interest in getting back to the old performance. Then talk on.
  • #6,802
  • Jan 28, 2015 3:22pm Jan 28, 2015 3:22pm
Jason,

The point regarding Oanda is sarcasm. Its black and white in their contract, meaning that all they did is obliged to accept and follow the terms. In case of FXCM it is different. You have this funny little escape clause in your contract, however all of your advertising practices are misleading. This is absolutely unethical, and against any business practice.

I have a decent number of shares in FXCM and vested interest, however as I wrote I have spoken to your risk manager and what I have received was not a shred of a clear straight answer. As a customer and stake holder I have every right to receive a clear concise answer without any exception. In your case you market as no negative balances. It is absolutely insane for you to do that, and extend a credit of 100:1 ???? to any one trading, because .... if that is what you really do - you are basically passing on the trades, while holding risk. So you are extending a 100X credit to anyone who is basically uncapitalized overextended and over leveraged without any reasonable collateral, while wishing that you will not get wiped out by black swan.

Well you had a black swan and you did get in trouble, you should have done some form of real risk management, anything, but that would have cost you as a company some sort pennies on a dollar, instead you well know that the statistically you will simply gain all those 100X leveraged accounts anyway.

As a stock owner I absolutely am annoyed at the incredible risk you have taken, as a customer I find it ... absurd at least that you advertised NO NEGATIVE BALANCES all over the place. You have made videos and many many references, and now that its time to honor this you are debating an escape clause.

If your model was to run as a broker, who is extending credit to parties that have no understanding of the risk involved and do not offer the required collateral, then so be it, but for the company to go and basically go against everything agreed upon is ridiculous.







Quoting Jason Rogers
{quote} Hi Esprit, Yes, it is black and white as quoted directly from their risk disclosure: "BECAUSE OF THE LEVERAGE AND THE OTHER RISKS DISCLOSED HERE, YOU CAN RAPIDLY LOSE ALL OF THE FUNDS YOU DEPOSIT FOR SUCH TRADING AND YOU MAY LOSE MORE THAN YOU DEPOSIT." Why do you think so many dealing desk brokers have issued statements that they made profits on the SNB announcement? It's easy for a market marker to forgive negative balances if a huge market gap wipes out...
  • #6,803
  • Jan 28, 2015 3:35pm Jan 28, 2015 3:35pm
Jason.

One more thing as per the post above, since you are the 'Ambassador' from FXCM please respond to this


Although the margin call feature is designed to close positions when account equity falls below the margin requirements, there may be instances when liquidity does not exist at the exact margin call rate. As a result, account equity can fall below margin requirements at the time orders are filled, even to the point where account equity becomes negative. This is especially true during market gaps or volatile periods. FXCM will not hold traders responsible for deficit balances in this scenario, but clients should be cognizant that all funds on deposit in an account are subject to loss. FXCM also recommends that traders use Stop orders to limit downside risk in lieu of using a margin call as a final stop.

Clearly without any ambiguity the way you would expect to be given a contract for example when you buy a car ? or a house ?
Or perhaps the way you would expect to be treated after you deposit money in a Bank Account ?
  • #6,804
  • Jan 28, 2015 4:51pm Jan 28, 2015 4:51pm
Quoting Naddmer
{quote} The amount stopped out in that move was worth a pizza. If you like your pizza, you can keep your pizza. As I said, I already moved the most of my account from FXCM to another broker. If I didn't, then the amount stopped out would be worth more than twenty pizzas which would really start to bother me. In other words: Get your fscking act together. NOW! Or I will use my ten pizzas still at FXCM to fsck with FXCM while making profits at $OTHERBROKER. {quote} Yaddayaddayadda. Do ... don't talk. Exept FXCM has no interest in getting back to the...
Lighten up Francis.
  • #6,805
  • Edited 5:47pm Jan 28, 2015 5:17pm | Edited 5:47pm
Quoting KeyframeHR
{quote} I got their email on Thursday I believe with MMR sheet where it basically said it will all standardize at 50:1 at Friday's close. And so it was. I didn't receive anything regarding this thing, and it's 36 minutes past 5pm EST in US and everything is still the same for me with JPY, AUD, and the rest (FXCMUK), so I guess we're good. For now. Really wanted to give them a chance (and still will do), but market is tough as it is and I don't need my broker against me as well. It's both annoying and a challenge lol.
Quoting Dafonz
FXCM AU leaves me little choice but to switch over to another broker as their 50:1 is below par when compared the available competitors. However if they had gone to 100:1, I would have seriously considered sticking around as this is my actual preference.
Quoting Digitalis
{quote} Yes that was the fx & gold email I think. Nothing about any other instruments - if you have something that does mention others (indices) I'd really appreciate a PM.
Quoting redpants
I am in Australia I put in a withdrawal request on the Friday and my funds were returned the following week. The Sydney office and Terry Panigiris have been excellent and emailed me some info for Australian clients hope this helps hopefully the current 50-1 will be increased soon !
Hi Everyone,

I wanted to let you know that the minimum margin requirements on FXCM UK and FXCM AU accounts are being lowered from 2% down to 1% allowing you up to 100:1 leverage on most major currencies. You should see this reflected on your platforms later today.

 

  1. UK & AU Forex margin requirements
    Attached File(s)
    File Type: pdf Forex Margin Requirements - Jan 28.pdf   91 KB | 583 downloads
  2. UK & AU CFD margin requirements
    Attached File(s)
    File Type: pdf CFD Margin Requirements - Jan 28.pdf   76 KB | 418 downloads


Minimum margin requirements on FXCM US accounts will remain as shown here: http://bit.ly/1JJsALU

  • #6,806
  • Jan 28, 2015 5:27pm Jan 28, 2015 5:27pm
Jason, you mention that in the US it's 2% so does that mean that FXCM is reverting back to 2% across the board for all pairs?

Because on Monday you raised it to 3% for JPY and other pairs? http://www.fxcm.com/products/forex/margin-requirements

Dear Client,
The National Futures Association (NFA) is requiring regulated brokers increase margins for certain currencies. Learn More
As a result, FXCM will be increasing Margin Requirements on the following currencies on Monday, January 26th, 2015 prior to 5pm EST and will remain in effect until further notice.

NEW MARGIN REQUIREMENTS BASED ON A 1K LOT

Currency Denomination
Jpy

AUD

MXN

Margin Requirement
3%

3%

6%




Please advise and if so when is this going to happen?

Thanks
  • #6,807
  • Jan 28, 2015 5:30pm Jan 28, 2015 5:30pm
There's no more credibility in whatever you're saying, Jason...you could post that we have only one sun, and we'd prefer to believe the contrary...
  • #6,808
  • Jan 28, 2015 5:39pm Jan 28, 2015 5:39pm
Jason,

As a customer and stock holder I would like you to please respond to the previous posts regarding the discrepancy in the Negative Account Balance Protection as per the various videos and statements you have made as a company. Can you do that please? If not please simply say so.

Thank you
  • #6,809
  • Jan 28, 2015 5:40pm Jan 28, 2015 5:40pm
Quoting yazzie
Jason, you mention that in the US it's 2% so does that mean that FXCM is reverting back to 2% across the board for all pairs? Because on Monday you raised it to 3% for JPY and other pairs? http://www.fxcm.com/products/forex/margin-requirements Dear Client, The National Futures Association (NFA) is requiring regulated brokers increase margins for certain currencies. Learn More As a result, FXCM will be increasing Margin Requirements on the following...
Hi Yazzie,

The 3% margin requirements for AUD and JPY put in place by the NFA will remain since these were ordered by the regulator. The latest US margin requirements are shown here: http://bit.ly/1JJsALU
  • #6,810
  • Jan 28, 2015 6:11pm Jan 28, 2015 6:11pm
Hello,
is ECN possible for non active-trader accounts? Also, what is the minimal size of position for ECN model with FXCM? How fast in ms is execution of positions for STP and ECN model? How different are commisions fees for standart lot with ECN and STP model or they are same?
Can I try demo account of ECN model with currenex, Is this ECN model possible to use with some enhanced trading station 2 where will be depth of market?
Also, I am interested in cTrader platform. Does FXCM consider at this time to provide cTrader platforms?

With ECN model is also limited amount of ticks, or only with STP (1500)... Can FXCM provide more ticks or 1500 is the max. for all type of accounts which you provide?

Please, could you provide answers for all questions.
Thanks
Best trading
DK
  • #6,811
  • Jan 28, 2015 6:13pm Jan 28, 2015 6:13pm
Quoting Jason Rogers
{quote} Hi Yazzie, The 3% margin requirements for AUD and JPY put in place by the NFA will remain since these were ordered by the regulator. The latest US margin requirements are shown here: http://bit.ly/1JJsALU
I have a question Jason ...

As you can see here : http://www.forexfactory.com/purec/15

I opened a couple of days ago a demo at FXCM US . Then a gentleman from UK sent me an email . I requested him to change my base currency and amount to what I specified .

BIG QUESTION TO ASK YOU : WHY IN HELL HAVE I 200:1 LEVERAGE WHEN I OPENED A DEMO HERE : http://www.fxcm.com/mt4-trading-demo/ ???

EDIT : My question is ... Am I still with FXCM US or my ass was moved to FXCM UK ?
Make choices and don't look back !
  • #6,812
  • Jan 28, 2015 6:28pm Jan 28, 2015 6:28pm
Quoting Jason Rogers
{quote} Hi Yazzie, The 3% margin requirements for AUD and JPY put in place by the NFA will remain since these were ordered by the regulator. The latest US margin requirements are shown here: http://bit.ly/1JJsALU
And another problem ...

On my old demo ( normal created demo - fxcm.com - 50k USD - USDDemo1 server ) I HAD NO SUNDAY CANDLES !!!

Now when that gentleman created for me another demo - 2k EURO - EURODemo1 server ) I HAVE SUNDAY CANDLES . WHICH I DON'T LIKE !!!

Another thing ... New day candle opens for me at 1AM instead of 00:00 . I didn't have this problem when i had first demo which i created on your website .
Make choices and don't look back !
  • #6,813
  • Jan 28, 2015 8:24pm Jan 28, 2015 8:24pm
anyone receive email from fxcm ??
  • #6,814
  • Jan 28, 2015 8:32pm Jan 28, 2015 8:32pm
Very good news the new margin requeriments for us people in Europe tradin with FXCM UK, 1:100 is all I need jajajajjaja


I still not received the email with the new MMR but I will check later

Thanks Jason, well done guys
  • #6,815
  • Jan 28, 2015 9:36pm Jan 28, 2015 9:36pm
No email yet but I looked at my account and the negative balance is cleared. They kept true to their word to me and I am happy not to be dealing with this any longer. I hope the same is true for the rest of you. I posted in another forum my willingness to re-deposit but only if they continue with the no debit policy. I also mentioned that it might be prudent for them and share holders if they considered a monthly fee earmarked for an account that protect clients. The account can grow considerably which adds value to shareholders and offers security to the clients. 200,000 accounts can generate $24 M/ year at $10/month. I certainly would not mind paying the added "fee" if it meant peace of mind.
Good luck to the rest of you!
  • #6,816
  • Jan 28, 2015 9:45pm Jan 28, 2015 9:45pm
I can confirm that my account balance with FXCM AU has been reset to zero. no email though.
  • #6,817
  • Jan 28, 2015 10:26pm Jan 28, 2015 10:26pm
My account has been zeroed in the US.
  • #6,818
  • Jan 28, 2015 11:45pm Jan 28, 2015 11:45pm
my account has NOT been reset to zero. Another else??

Looks like I need to find myself a lawyer.
  • #6,819
  • Jan 28, 2015 11:52pm Jan 28, 2015 11:52pm
My negative balance of 150k has been cleared.
Thank you so much.
  • #6,820
  • Jan 28, 2015 11:53pm Jan 28, 2015 11:53pm
Guys, I am from Australia and have juts received this from FXCM>>>>>>>

Dear Client,
FXCM has important news regarding your account(s): Your debit balance(s) resulting from the January 15, 2015 Swiss National Bank announcement that they will no longer support a self-imposed floor on the EUR/CHF exchange rate, has been forgiven.

Please Note: This does not release you from any other obligations, terms, or conditions of your master trading agreement with FXCM. FXCM hereby reserves all rights and remedies that it may have at law, in equity, and under the terms of any contracts with you. Nothing herein shall be considered an admission of any fact or wrongdoing whatsoever. These actions taken by FXCM hereunder are a one-time courtesy and are not to be construed as establishing any future course of conduct.
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