FXCM Discussion | Page 79 | 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

  • #1,561
  • Nov 4, 2010 1:50pm Nov 4, 2010 1:50pm
Quoting PipStar
Saw this on another website:

"Pressed By Global Regulators, Forex Broker FXCM Restructures
By Christopher Zinsli Of DOW JONES VENTUREWIRE
Regulators in three countries are questioning FXCM Inc. about aspects of its foreign-exchange brokerage business, and in some cases the inquiries are prompting the company to undertake costly restructuring efforts, the IPO registrant disclosed in its prospectus.
[i]The New York company,...
yea because FXCM is a bucketshop that cheats its clients. I warn anyone who is thinking of putting their hard earned capital in FXCMs business model.
  • #1,562
  • Nov 4, 2010 11:58pm Nov 4, 2010 11:58pm
Quoting mfoste1
yea because FXCM is a bucketshop that cheats its clients. I warn anyone who is thinking of putting their hard earned capital in FXCMs business model.
I'm a FXCM client and I can say they are ok. Slippage is acceptable 1-1.5 pips and execution is fast. On the other hand, do you think a bucket shop will try to accomplish all regulators requirements? I don't think so. There is no perfect fx broker but being regulated is important.
  • #1,563
  • Nov 5, 2010 12:53am Nov 5, 2010 12:53am
Well I thought they were ok but have to review that after what happened 2 days ago.

Was in a long, my TP got hit I noticed that it didn't close, tried to do it manually also to no avail, kept getting the message that the position was already closed even though it wasn't, tried again to close it manually it eventually worked when at + 16 pips while other wise it would have been +75 pips. So no I am not happy with them for this.
Enter Signature
  • #1,564
  • Nov 5, 2010 1:39am Nov 5, 2010 1:39am
I read somewhere that all forex brokers are supposed to report their active clients statistics, like 22% are profitable 78% not profitable. If anyone knows what I'm referring to, do we have such a number for FXCM and do we have a thread on forexfactory listing the full report for all brokers?
  • #1,565
  • Nov 5, 2010 2:36am Nov 5, 2010 2:36am
Quoting johninthai
Well I thought they were ok but have to review that after what happened 2 days ago.

Was in a long, my TP got hit I noticed that it didn't close, tried to do it manually also to no avail, kept getting the message that the position was already closed even though it wasn't, tried again to close it manually it eventually worked when at + 16 pips while other wise it would have been +75 pips. So no I am not happy with them for this.
When the FOMC statement was released the volatility was extreme so all brokers had problems. I usually avoid to have position in market at that time.
  • #1,566
  • Nov 5, 2010 2:52am Nov 5, 2010 2:52am
I understand that but the issue is that I couldn't even close the position manually till almost all profits were down the drain.
What's the point of it all then ??? Disappointed to say the least, I also have a account with interactive brokers where I have never had an issue even with high volatility news. Guess where most of my capital will stay ?
Enter Signature
  • #1,567
  • Nov 5, 2010 3:52am Nov 5, 2010 3:52am
Quoting johninthai
I understand that but the issue is that I couldn't even close the position manually till almost all profits were down the drain.
What's the point of it all then ??? Disappointed to say the least, I also have a account with interactive brokers where I have never had an issue even with high volatility news. Guess where most of my capital will stay ?

If you care about your money, you should move it out of FXCM. The situation only gets worse for them. I have been on the phone numerous times with them and its always the same pisspoor excuses from their highly underqualified customer and technical support. They feel if they perform an audit that will solve the problem with your account? Sure they will "investigate" the issue, however no action will ever be taken. They are in the business of making money off clients by ways of unscrupulous activities as a borker. BEWARE OF THIS BROKER.
  • #1,568
  • Nov 5, 2010 7:17am Nov 5, 2010 7:17am
I know mate, that's why I work with interactive brokers with my capital and have a small amount at FXCM to try them out but not impressed so far.
Yes the reps go on about the NND and such, definitely something they taught them during their training.
Enter Signature
  • #1,569
  • Nov 5, 2010 7:17am Nov 5, 2010 7:17am
Quoting mfoste1
Sure they will "investigate" the issue, however no action will ever be taken.
Hi mfoste1,

I know we have discussed execution multiple times over the months, so explaining this should not be new. No action on an audit will be taken if execution was correct and there were no technical issues.

I will be completely honest with you and I don't mean this as any offense...but if you cannot understand how execution works and the risks involved, then you should not be trading. http://www.fxcm.com/trading-execution-risks.jsp. You are not trading on a sugar coated platform against a dealing desk. Orders are executed contingent on available liquidity.

Our reps are highly trained and will do everything possible to help; however, no action will be taken if trade execution was correct.

All the best with your trading.

-Jason
  • #1,570
  • Nov 5, 2010 7:44am Nov 5, 2010 7:44am
Quoting mfoste1
If you care about your money, you should move it out of FXCM. The situation only gets worse for them. I have been on the phone numerous times with them and its always the same pisspoor excuses from their highly underqualified customer and technical support. They feel if they perform an audit that will solve the problem with your account? Sure they will "investigate" the issue, however no action will ever be taken. They are in the business of making money off clients by ways of unscrupulous activities as a borker. BEWARE OF THIS BROKER.
It says on your profile that your preferred platform is FXCM's TradingStationII. So which other broker have you moved to?
  • #1,571
  • Nov 5, 2010 7:57am Nov 5, 2010 7:57am
Quoting Jason Rogers
FXCM does not determine whether your order on NDD forex execution is filled or not. Order execution is dependent on liquidity. If there's a buyer at the price you want to sell at, then the order is filled. If not, the order is rejected or it tries to execute at the next best price depending on what type of order it is.

The market is often less liquid during news events and trading tends to become one-sided during the news announcement as everyone rushes one way and then another.

Can you please explain these two orders?

Ticket No... 11742072... my stoploss was set at 1.4080... and it is executed at 1.4056

Ticket No.... 11744477 ... the market never went down to 131.25 but the stoploss was executed....

Here is my account number - 3800030550
  • #1,572
  • Nov 5, 2010 8:20am Nov 5, 2010 8:20am
They will hunt your stop once a while...
  • #1,573
  • Nov 5, 2010 8:51am Nov 5, 2010 8:51am
Quoting deedeed
Can you please explain these two orders?

Ticket No...... my stoploss was set at 1.4080... and it is executed at 1.4056

Ticket No....... the market never went down to 131.25 but the stoploss was executed....

Here is my account number -
Hi deedeed,

For security purposes, please do not list your account information publicly. If you have questions about specific trades, please contact me privately and I would be happy to help if you want to provide specific account and ticket information.

Looking at the pricing you listed, I can tell you are referencing EUR/USD and GBP/JPY. In case you were not aware, the NFP report was released at 8:30am ET, and NFP is one of the most volatile reports of the month.

Both of these questions can be answered by taking a look at the charts which you have access to through the FX Trading Station II (tutorial). I have posted a copy below for review.

Stops loss orders are at best market orders, so they will execute at the best price available. Please take a look at the below tick chart. EUR/USD went from 1.40994 to 1.4056 in one tick which is why your order was not executed at 1.4080:

http://img101.imageshack.us/img101/1...01093951am.png


For GBP/JPY, you mentioned the the price was not quoted; however, it was quoted in both the 8:29 and 8:30 candle in the one minute chart displayed below.

http://img829.imageshack.us/img829/3...01094209am.png


Please let me know if you have any questions.

-Jason
  • #1,574
  • Nov 8, 2010 8:53am Nov 8, 2010 8:53am
Important Update for MT4 Users:

The server time for FXCM's MT4 platform has changed this weekend from GMT+1 to GMT. If your EA logic uses the server time, please adjust your EA settings accordingly.


New Demo Expiration Time-frame

The demo expiration settings have also been updated for FXCM demo accounts. Previously, demo accounts would expire every 30 days. This has been changed. Demo accounts will now only expire if inactive for 30 days. So as long as you login every 30 days, the demo will not expire.
  • #1,575
  • Nov 8, 2010 2:54pm Nov 8, 2010 2:54pm
Quoting GubyIQ
you're looking for a perfect fill during FOMC ? Why don't you come back on friday during NFP with the same lousy speech ?
On the previous page one guy complains of slippage on his order in gbp/jpy during an important UK announcement.
You people who make this type of comments shouldn't even be allowed to open a trading account !
now look above at @deedeed post
the facts speak for themselves: no sane person expects to be able to perform brain surgery when he doesn't even know what instruments are used, and how are they used.
yet, these people open forex accounts, without the faintest idea of how the markets work and of trading mechanics, but they expect to win.
The worst thing I can be is the same as everybody else. I hate that.
  • #1,576
  • Nov 9, 2010 8:31am Nov 9, 2010 8:31am
Please be aware that rollover for all currency pairs is 4X the normal amount today and 0 tomorrow. This is due to bank holiday's.

DailyFX has a rollover calendar where you can keep track of daily rollover and any exceptions: www.dailyfx.com/frollover. Below is a screenshot of the month of November, and I will help decipher how to read it.

Each date will list whether all currency pairs have the same rollover amount or if there is an exception for a particular currency (due to a holiday). I drew a box around Nov 9 & 10. At the bottom of Nov. 9 it says "All: 4". This means that all currency pairs have 4 times rollover. At the bottom of Nov. 10 it says "All: 0". This means that all currency pairs have 0 rollover.

http://img816.imageshack.us/img816/7...ver1192010.png



It's possible that not all currency pairs are affected by a bank holiday. You'll notice that for some days it says "Other" and there's an orange triangle at the top left of the date. This means there's an exception for a particular currency and if you move your cursor over the triangle it will tell you which one. In the image below, you'll see that for November 19th the JPY pairs has 2X rollover while all others are normal.

http://img708.imageshack.us/img708/5...tion119201.png

  • #1,577
  • Nov 12, 2010 8:38pm Nov 12, 2010 8:38pm
I have some questions about FXCM's Strategy Trader platform.

Can it do portfolio backtesting, i.e. one strategy over multiple symbols in one backtest?
Can it import custom historical tick data?
How far back does the default historical tick data go?
Does it make use of multiple CPU cores during backtests and optimzation?
  • #1,578
  • Nov 13, 2010 1:48pm Nov 13, 2010 1:48pm
Quoting Hyper
I have some questions about FXCM's Strategy Trader platform.
Strategy Trader is a rebranded Multicharts (deprived of some features).

Quoting Hyper
Can it do portfolio backtesting, i.e. one strategy over multiple symbols in one backtest?
You can do it in MC. I think the same is possible in ST by FXCM.

Quoting Hyper
Can it import custom historical tick data?
What do yu mean by custom?

The way it works now in ST by FXCM is that ST backfills data from eSignal.

Quoting Hyper
How far back does the default historical tick data go?
Back to medieval ages in MC.

Quoting Hyper
Does it make use of multiple CPU cores during backtests and optimzation?
Yes.
  • #1,579
  • Nov 14, 2010 5:51pm Nov 14, 2010 5:51pm
Jason,

Any plans from FXCM to support trading from Windows Phone 7 devices?

Note that it's different from the old Windows Mobile.
  • #1,580
  • Nov 14, 2010 6:23pm Nov 14, 2010 6:23pm
Quoting Jason Rogers
DailyFX has a rollover calendar where you can keep track of daily rollover and any exceptions
It is not easy to trust a calendar that starts with Sunday instead of Monday.
13 traders viewing now