FXCM Discussion | Page 401 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/JPY

Similar Threads

FXCM with Sierra Charts - Discussion and alternatives 8 replies

Elliott Waves discussion 4 replies

FXCM gets another CFTC fine, while Drew Niv leaves FXCM UK board 17 replies

Euro/Dollar discussion 9 replies

Forward Testing Discussion Thread 241 replies

Attachments: FXCM Discussion
Exit Attachments

FXCM Discussion

  • #8,001
  • Aug 31, 2015 11:14am Aug 31, 2015 11:14am
Quoting nonlinear
{quote} This is what bothers me the most. How does Leucadia realize its return other than selling fxcm to the highest bidder? Why should I keep my accounts with fxcm given this uncertainty?
They won't sell FXCM - makes no sense as nobody will buy a burning train speeding 100 miles an hour to a rock wall. They'll extort FXCM for money - they just let them know that the sum they expect is not $350M, but $957M. ALL their 10M shares are shorted, they're selling assets to whoever is dumb enough to buy, and they're dropping fees on account holders like there's no tomorrow.

This screams of "grab and run" vulture behavior. I wonder why so many people choose not to see it.
Best regards, Zef
  • #8,002
  • Aug 31, 2015 12:17pm Aug 31, 2015 12:17pm
Interesting thread. Here's my 2 cents. An egg is an egg, whether, you: fry, scramble, boil or bake it. At the end of the day no matter what you add to it or how hard or long you analise it: it's still an egg. I don't see the difference with trading in the Forex. Most retail traders going broke as very little to with indicators, feeds, mentors, brokers or guru's; Anyone who's been in the business more than a few years (some even sooner) understand most new retail traders go broke, because they don't prepare for what they're up against. They look for the holy grail in places like indicators, feeds, mentors, brokers and guru's; but not as aides to their analysis, but to do it for them. How can anyone who as access to all the books, broker aids, traders etc that there are short cuts? Don't you think it there were short cuts everyone would be using the same shortcut?

Retail traders are up against, everyone who is not another retail trader; keeping in mind the enemy uses information they gather from other traders to look as though they are helping a retail trader compete. The sooner anyone who wants to trade and last in the Forex understands that, the less their chances are to take a stroll to the trader grave yard of broken dreams.

The market only moves three ways: up, down or sideways and is manipulated by the enemy no matter what. Your enemy is the same as you; they don't always win, they do lose and as well, stay out of the markets when they can't manipulate.There are only 4 defenses against their manipulation: be prepared, be patient, be disciplined and manage your risk. You can prepare using one, none or a million indicators, one or a million strategies, one or several brokers: VSA, Tech, Fundamental and/or sentiment, paying someone else to teach or guide you; and doing it properly in the short term still doesn't guarantee success.

The only things we retail traders can control is: being patient, disciplined and risk management. Here's an example of how to fail whether your with FXCM, Oanda or the man in the moon.

It's Sunday night, Sydney just opened a retail trader is looking for a pair that is trending because : a guru's sold him on the strategy works over the long term. A Fibonacci strategy works by entering on the 50 or 60% retrace level I have a fixed stop loss at the 75% level and change to a trailing stop once price moves to the 32% level and potential profit target. He's seen in broker webinars, their rep talk and illustrate how it works. Lastly he's read several books on how to trade using this fib strategy. So that's the plan. To save space the calendar had no major announcements for either pair and it's a banking holiday in GBP Same stratey two different pairs. Besides the Fib strategy same rules, top one has money management of no more than 10% of account balance bottom is 3% Leverage on both is 100:1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AToay1.png Size: 37 KB
Click to Enlarge Name: AToday.png Size: 34 KB
Nobody ever went broke closing a trade in profit
  • #8,003
  • Aug 31, 2015 1:50pm Aug 31, 2015 1:50pm
Quoting roughtrader
Got an email from FXCM saying that they would charge me a fee because my trading account was inactive for a long period. if you ask me, thats just greedy! I instantly closed my account. good job fxcm
Quoting PoundTrader
{quote}You close your account, wasn't like you was using it anyway , im sure FXCM thanks you for closing your account
Quoting roughtrader
{quote} no I wasn't using it atm , but at least there was a possibility I could come back later at some point, they just made sure I didn't
Hi Roughtrader,

We're sorry you decided close your inactive account, but I wish you well in your future trading.

Just for everyone's clarification, this inactivity policy has been in place for years. Clients with inactive accounts are given one full month's notice before the fee is assessed, so they have the opportunity to take any of the following actions to avoid the inactivity fee:

  1. Place a trade.
  2. Withdraw all funds to close your account.
  3. Deposit new funds into the account.
  4. Consolidate your existing accounts by transferring existing funds into one account.


Of course, we prefer that you are able to keep your account open and avoid any fees.

  • #8,004
  • Aug 31, 2015 3:33pm Aug 31, 2015 3:33pm
Quoting nonlinear
How does Leucadia realize its return other than selling fxcm to the highest bidder?
Hi Nonlinear,

As our CEO Drew Niv mentioned during our most recent earnings call, our plan is to pay back that loan by the end of the year, and we have outlined the non-core asset sales to accomplish this:

Attached Image (click to enlarge)
Click to Enlarge Name: DTfLu3b.jpg Size: 161 KB

If you have further questions about this, you're welcome contact our Investor Relations department: http://bit.ly/1SEYg7W


Quoting nonlinear
Why should I keep my accounts with fxcm given this uncertainty?
It's important to note that despite the events of January 15th, our capitalization remains at levels similar to before the SNB event: http://bit.ly/10Pq5FJ

FXCM is in compliance with all regulatory capital requirements in the jurisdictions in which we operate. Your forum profile mentions that you live in the US, and below are the latest capital figures for our US entity as compared to all other US-regulated forex brokers (RFEDs) as reported to the CFTC.

Attached Image


We pride ourselves in continuing to provide our clients with the same level of service and support to which they are accustomed. Our customer equity grew by $68 million or 10% the last quarter. While $47 million of that increase was due to our acquisition of CitiFXPro, the remainder was organic. It's a strong vote of confidence that Citibank chose FXCM for its customers when they decided to exit the business in June.
  • #8,005
  • Aug 31, 2015 3:54pm Aug 31, 2015 3:54pm
Thank you for the reply Jason - your contributions are appreciated here. Unless I am mistaken, doesn't Leucadia have the right of sale even if (after) the loan is paid off on schedule?
  • #8,006
  • Edited 12:47pm Sep 1, 2015 9:46am | Edited 12:47pm
Quoting CatMan
{quote} ......... A public client mockery, if you also read on their website this: {image}
Quoting scalpz
{quote} ......... AND Unfortunately I like this picture {image} cheers scalpz
Noticeable absent of comment re below from any of the faces of alias Jason Rogers.
Attached Image
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #8,007
  • Sep 1, 2015 10:38am Sep 1, 2015 10:38am
@Phylo:

-We can make expert advisers.
-We can make scripts.
-We can make indicators.
-We can buy them on the MT4 "Market".
-We can pay FXCM programming services to do it. Which, given how the average retail "trader" is a better MQL4 programmer than a trader, we're more inclined to get the crap for free from one of the thousands of people on FX forums.

What good is it when anything (EA, indicator, or script) remotely complex kills the MT4 terminal?
For crying out loud, MQL4 comes with a function to retrieve swap rates, for example, and even that doesn't work!

With this industry, the "grail searches" are emphasized so much more than actually trading. You pay someone to code your "grail" for you then, when it stops working (which it inevitably does) you pay them again to code you a new "grail". Forex trading could be a really great industry. Problem is, the industry doesn't give a rat's ass about its clients. Heck, FXCM even introduced this joke of a tool for "high frequency trading" which, of course, isn't built into a platform but on a third-party website and as such, lags a real-time data feed and - you guessed it - is totally useless.

That's it! Let's build more tools and scatter them all over the place. The bells, whistles, and terminology usage will entice more idiots to trade more frequently!
  • #8,008
  • Edited 3:36pm Sep 1, 2015 2:59pm | Edited 3:36pm
Quoting nonlinear
Thank you for the reply Jason - your contributions are appreciated here. Unless I am mistaken, doesn't Leucadia have the right of sale even if (after) the loan is paid off on schedule?

Quoting nonlinear
Thank you for the reply Jason - your contributions are appreciated here. Unless I am mistaken, doesn't Leucadia have the right of sale even if (after) the loan is paid off on schedule?
Hi Nonlinear,

While that's the case, I get the impression you might be asking this question because you're concerned that client funds would somehow be at risk if Leucadia decided to sell its stake to another buyer. Keep in mind that our regulators would not have allowed the financing we received from Leucadia to count towards our capital requirements if that were so.

The terms of the Leucadia loan impact FXCM shareholders, not FXCM account holders. I'm not authorized to comment on our stock, but you're welcome to contact our Investor Relations department with any related questions: http://bit.ly/1SEYg7W

Furthermore, in a recent Wall Street Journal article, Leucadia CEO Richard Handler said that "in general, Leucadia aims to own cash-generating businesses to fund new investments. FXCM could potentially be such an asset in the future, if Leucadia chose to turns its rights into equity.

"We have the capability of being twenty-plus year investors in FXCM, or any of the other businesses we partner with." http://www.wsj.com/articles/for-leuc...off-1431126200
  • #8,009
  • Sep 1, 2015 4:41pm Sep 1, 2015 4:41pm
Quoting Bilstein
@Phylo: -We can make expert advisers. -We can make scripts. -We can make indicators. -We can buy them on the MT4 "Market". -We can pay FXCM programming services to do it. Which, given how the average retail "trader" is a better MQL4 programmer than a trader, we're more inclined to get the crap for free from one of the thousands of people on FX forums. What good is it when anything (EA, indicator, or script) remotely complex kills the MT4 terminal? For crying out loud, MQL4 comes with a function to retrieve swap rates, for example, and even that...
I'm not disagreeing with you. I don't think expecting a broker, any broker, to show accurate bid/ask lines on their charts in MT4 is unrealistic. After all, they can show accurate pricing information in (for example) the one-click trading box. And they must be deriving the inaccurate bid/ask data from somewhere, so why not just replace that feed with the accurate data. More and more, I'm wondering what the advantage is for them in keeping things the way they are...
  • #8,010
  • Sep 1, 2015 6:53pm Sep 1, 2015 6:53pm
Quoting philtre71
More and more, I'm wondering what the advantage is for them in keeping things the way they are...
Hi Philtre,

It's important to note FXCM offers multiple trading platforms including Trading Station and NinjaTrader. It's only the MT4 charts that don't yet reflect our raw FX spreads and a solution is pending. The Market Watch window on MT4 already reflects our raw FX spreads in the Bid and Ask columns. Furthermore, MT4 users can log into Trading Station with the same login and password and see the correct prices on Marketscope charts.
  • #8,011
  • Sep 1, 2015 11:25pm Sep 1, 2015 11:25pm
Hey all, just wondering, Ive opened up a new account with FXCM as I needed diversify my capital with brokers, do you guys also get the issue with in MT4 under the account history only limited data is available, I was told by my account manager this is only displays 2 months and I need to use the portal for all reporting, I was told this is due to system resources, my other brokers don't have this issue, so just wondering if you guys found a way around this? thanks
  • #8,012
  • Edited 11:38am Sep 2, 2015 7:27am | Edited 11:38am
To be honest, when it comes to MT4, I'm unsure whether I'd consider the problem to be FXCM's (or any other broker) data feed or the terminal itself.
  • #8,013
  • Sep 2, 2015 8:38am Sep 2, 2015 8:38am
Quoting Jason Rogers
{quote} Hi Philtre, It's important to note FXCM offers multiple trading platforms including Trading Station and NinjaTrader. It's only the MT4 charts that don't yet reflect our raw FX spreads and a solution is pending. The Market Watch window on MT4 already reflects our raw FX spreads in the Bid and Ask columns. Furthermore, MT4 users can log into Trading Station with the same login and password and see the correct prices on Marketscope charts.
I know that Jason....which is why I'm mystified it's taken FXCM so long to sort this problem with MT4.

Bilstein, other brokers whose MT4 charts I use don't have this discrepancy between the market watch data and the bid/ask lines. That's not to say their price feeds aren't problematic, just that they don't seem to have this discrepancy.
  • #8,014
  • Sep 2, 2015 9:09am Sep 2, 2015 9:09am
I posted it here before, but let me say it again.

Why people use metatrader?

Because of the plethora of indicators and EA out there.

And this is fruit of metatrader in the past letting people code what they want through a "sort of" easy program language.

Why nobody grabs the opportunity is beyond me !!

The first broker to grasp this concept will see their platform become the new metatrader and instead of paying royalties, will earn royalties platform wise.

But there is not even a single stupid broker out there to give some beer to a few " just out of the college" coders and come up with a language that anybody can code.

Apple became what it is today because they understood that not everybody would use a computer through a command line.

I became a half decent MQL4 programmer but neither my family or my friends even know what MQL4 means.

Not everybody is a geek, not everybody has time, not everybody has the brains.
So, you think you have rights? LOL
  • #8,015
  • Sep 2, 2015 1:07pm Sep 2, 2015 1:07pm
Waw ... well done FXCM !

Attached Image (click to enlarge)
Click to Enlarge Name: Lousy execution FXCM.jpg Size: 70 KB
  • #8,016
  • Sep 2, 2015 1:28pm Sep 2, 2015 1:28pm
Holiday Trading Hours for September

Below are the CFD holiday trading hours for September. Forex trading hours remain unchanged.

Times below are in GMT
Attached Image (click to enlarge)
Click to Enlarge Name: QG1pKWh.png Size: 50 KB


Note that there will be 4 days of rollover interest earned or paid on all currency trades open today at 5pm New York Time (21:00 GMT).

You can view the complete holiday rollover interest schedule here: http://bit.ly/14Wwoso
  • #8,017
  • Sep 2, 2015 6:40pm Sep 2, 2015 6:40pm
Quoting CatMan
Waw ... well done FXCM ! {image}
Hi CatMan,

If you feel your stop loss was executed incorrectly, then I encourage you to file a trade inquiry: http://bit.ly/1NbrGwj

The Trade Services Team can then investigate what happened, and if there was an error in our trade execution, FXCM will make the appropriate correction to your account.

That said, it's important to note that slippage, in and of itself, does not mean there was an error in trade execution. There's no sugar coating this. Slippage is one of the risks you assume when trading in any market whether it's equities, futures or forex, because your order can only be filled at a price that's trading in the market.

When a stop order is triggered, it becomes a market order. That means it will get filled at the best available price in the market which may not be the original price you requested.

This is not a bad thing. Imagine the alternative. If a stop loss order could only be filled at the price you requested and that price was not available in the market, then your trade would remain open even if the market continued to move against you further and further resulting in even greater losses.

However, unlike with some other brokers, slippage at FXCM works both ways. If you have a limit or take profit order, and the price gaps in favor of your trade, then you will get filled at the more favorable price which is trading in the market. This is called positive slippage or price improvement.

A study of over 43 million orders executed through FXCM over a 12-month period from September 2013 through August 2014 found that 52% of all stop and stop entry orders received negative slippage. However, the same study showed that over 58% of all limit and limit entry orders received positive slippage.

That's due to the momentum of price movement when such order types are triggered. Stop orders are triggered when the price is moving against your trade, while limit orders are triggered when the price is moving in favor of your trade.

The year-long study of trades executed through FXCM also revealed the following:

  1. 76.2% of all orders had no slippage.
  2. 13.5% of all orders received positive slippage.
  3. 10.2% of all orders received negative slippage.

Over the course of that year, FXCM clients benefited from over $21 million in positive slippage: http://bit.ly/P6lUzX

  • #8,018
  • Sep 2, 2015 6:57pm Sep 2, 2015 6:57pm
Quoting Bilstein
My MT4 platform has: (1) A DOM window that remains unpopulated (2) A "swap" column in the terminal window that stays at 0.00 (3) A "commissions" column in the terminal window that stays at 0.00 (4) A "News" tab on the terminal window that remains unpopulated (5) An "Account History" tab that shows none of my account activity for January when the SNB event happened. (6) Inaccurate bid/ask lines displayed on charts (7) Comes to a grinding halt whenever economic data is released
Hi Bilstein,

Regarding points 1 to 5 that you made regarding our MT4 platform, these are all related to how MT4 is linked to our back office to enable single sign-on functionality. This functionality allows FXCM clients to log into multiple platforms (MT4, Mirror Trader, Trading Station Desktop, Mobile and Web) with one username and password to use different platforms depending on whether they are at home, work or traveling or for different trading strategies, but it also means the items you listed do not load on MT4 directly and must be accessed via Trading Station instead.

Regarding item 6, a solution is pending to display our raw FX spreads on MT4 charts.

Regarding item 7, there are a variety of possible causes for the freezing you experience on MT4, and they are not specific to FXCM. In my personal experience, more traders mention freezing on MT4 than on other platforms. This could be due to the fact that people run EAs or indicators on it that may not be optimized to run well in fast moving markets.

It's important to note that during news events, prices tend to update more frequently. You can confirm this by looking at the tick volume on your MT4 charts at the time in question. More price updates mean that your platform has to perform more calculations for each EA or indicator you have running on your charts.
  • #8,019
  • Sep 3, 2015 4:07am Sep 3, 2015 4:07am
Hello I am considering revitalizing with FXCM after switching from the SNB debacle. My question is how long is FXCM going to exist in the US? Honestly? At least 2-3 years? Both Citifx and mb trading are now gone/bought out/merged whatever. If I go to back to FXCM, can I have any semblance of assurance that they are going to stick around? I really want to but am still afraid of another disaster because they have the best execution.
  • #8,020
  • Sep 3, 2015 10:41am Sep 3, 2015 10:41am
Hello, I am from Indonesia and i am using FXCM. its good tho, no problem at all. fast execution. been using it for maybe more than a year and just started a new account with larger capital
"Risk comes from not knowing what you're doing"
12 traders viewing now