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  • #2,241
  • Nov 10, 2011 11:13am Nov 10, 2011 11:13am
Dear Jason,

I just converted my trading account to interest/riba-free account. Yes, I do understand that from agreement that I signed and submitted to FXCM, additional markup of pips will be added into current spread to compensate roll-over fee.

But, after using it for two days, I would like to propose to FXCM team, if possible to maintain original spread like other standard / normal account, and for additional markup of pips that mentioned above, the value is converted to one-time commission per trade.

This feature will give better trading benefit to your clients under interest-free account as they are enjoying the same real-time spread. On of that, when comparing side by side price action between bid and ask for both type of accounts, no dispute as using same spread.

As example, in normal standard account, the spread for XAU/USD is 50, but in interest-free account, it is 75. So, this additional 25 value is converted to one-time commission when traders open trade, and they still seeing spread value, 50.

Hope above suggestion and previous suggestion (reducing withdrawal fee from $40 to $25 or $15) will be forwarded to FXCM team.

Have a nice day!
  • #2,242
  • Nov 10, 2011 11:32am Nov 10, 2011 11:32am
Quoting zam4ever
But, after using it for two days, I would like to propose to FXCM team, if possible to maintain original spread like other standard / normal account, and for additional markup of pips that mentioned above, the value is converted to one-time commission per trade.

This feature will give better trading benefit to your clients under interest-free account as they are enjoying the same real-time spread. On of that, when comparing side by side price action between bid and ask for both type of accounts, no dispute as using same spread.

As example,...
Hi Zam,

Yes, I will pass along your suggestion. For the operations suggestion, I've spoken to our operations team about your request and no changes will be made at this time. The operations team did mention that many traders withdrawal back to their credit card, which is free. I also included a few other free withdrawal options in my last post. I believe in your situation you said bank withdrawal was the only method that would work for you.

With that said, can you touch base with me by email at [email protected] the next time you plan to withdrawal funds? I want to see what options you have for free withdrawals at that time.

Thanks Zam.


- Jason
  • #2,243
  • Nov 10, 2011 12:51pm Nov 10, 2011 12:51pm
Quoting HannesJoub
Hi Jason, trust you are well??

I am a micro account holder and have the following three questions for you:

1) I cannot withdraw via credit card, even though deposit was made by this channel. Why?
2) How can I check what leverage my platform is set at?
3) How can I change the server time ( so that the candles/charts that I see agree to my American friends that are on NY time )

Thanks, warm regards

H
Hi HannesJoub,

Thank you for your questions. Because traders can get started with as little as $50 in a micro account, there are fewer services available compared to our full support standard accounts. That is why the micro accounts have one withdrawal option even though you can fund in different methods. You can upgrade your account once it grows above $2,000 for additional withdrawal options.

For leverage, you can check your leverage from the myFXCM account management portal. Default leverage on UK micro accounts is 200:1. The link to log into the myFXCM account portal is: https://www.myfxcm.com/fxma/?plugin=0&ib=FXCM

For display time, you can change the display time of your platform through the options menu. From the top-left of the Trading Station, select System> Options> General Trading (Under Trading Settings) > change to "Server Time". Server time will display intraday candles as NY time since you are using a USD account. Financial time will set 5 PM NY time as 0:00 if you want to give that a try as well.

Hope that helps


-Jason
  • #2,244
  • Nov 10, 2011 1:14pm Nov 10, 2011 1:14pm
why not change u.s. clients back to real time margin instead of this flat price margin i notice im paying more on my margin then if it was real time
  • #2,245
  • Edited 3:29pm Nov 10, 2011 2:31pm | Edited 3:29pm
Jason, are the spreads better on a normal vs micro acount?
I think I will upgrade later using the Multicharts FX option,
can you tell me if the quotes are free or subscription based
if using the free MCFX? also it it possible to use the free
MultiCharts Discretionary Trader on a micro or normal acount?
Bulls are stupid Animals!especially when Im short!
  • #2,246
  • Edited 10:03pm Nov 10, 2011 9:28pm | Edited 10:03pm
Quoting Jason Rogers
For leverage, you can check your leverage from the myFXCM account management portal. Default leverage on UK micro accounts is 200:1. The link to log into the myFXCM account portal is: https://www.myfxcm.com/fxma/?plugin=0&ib=FXCM

-Jason
Hye Jason,

I thought default leverage for micro account is 400:1 and trader opts for 200:1 or 100:1?

cheers
  • #2,247
  • Nov 10, 2011 10:03pm Nov 10, 2011 10:03pm
Quoting PoundTrader
why not change u.s. clients back to real time margin instead of this flat price margin i notice im paying more on my margin then if it was real time
Do you mean when the currency price that we trade is dramatically change, the margin will change too, either increase or decrease, am I right? Something like flexible margin.

cheers
  • #2,248
  • Nov 11, 2011 3:20pm Nov 11, 2011 3:20pm
Quoting PoundTrader
why not change u.s. clients back to real time margin instead of this flat price margin i notice im paying more on my margin then if it was real time
Hi PoundTrader,

We felt fixed margins that change infrequently was the lesser of the two evils. Most traders try to avoid maxing out their margin. A concern with variable margin is getting margin called due to fluctuating margin requirements.

Have a great weekend!


- Jason
  • #2,249
  • Nov 11, 2011 3:25pm Nov 11, 2011 3:25pm
Quoting zam4ever
Hye Jason,

I thought default leverage for micro account is 400:1 and trader opts for 200:1 or 100:1?

cheers
Hi Zam,

YOU ARE RIGHT!

Quoting HannesJoub
How can I check what leverage my platform is set at?
Hannes,

Your default leverage on micro UK should be 400:1 and you can reduce that through the myfxcm account portal.

Cheers,


- Jason
  • #2,250
  • Nov 11, 2011 3:39pm Nov 11, 2011 3:39pm
Quoting roughtrader
Jason, are the spreads better on a normal vs micro acount?
I think I will upgrade later using the Multicharts FX option,
can you tell me if the quotes are free or subscription based
if using the free MCFX? also it it possible to use the free
MultiCharts Discretionary Trader on a micro or normal acount?
Hi roughtrader,

Hope you're good! Normal and micro accounts receive the same pricing and execution.

I agree with you that Multicharts are really nice. Multicharts charges $99 a month for FXCM's data. You would need to contact Multicharts if you were interested since its a service through them.

Were you looking to automate your trading? Let me know what you are looking for so we can find you a solution.

Thanks,


- Jason
  • #2,251
  • Nov 11, 2011 8:21pm Nov 11, 2011 8:21pm
Quoting Jason Rogers
Hi roughtrader,

Hope you're good! Normal and micro accounts receive the same pricing and execution.

I agree with you that Multicharts are really nice. Multicharts charges $99 a month for FXCM's data. You would need to contact Multicharts if you were interested since its a service through them.

Were you looking to automate your trading? Let me know what you are looking for so we can find you a solution.

Thanks,


- Jason
Thanks Im good! I hope you are the same,
no Im not into automation,
I just think Multicharts looks really nice
and something I would like to have,
I was just wondering if somehow you could tap into the same
price feed Trading station and MT4 use and that way get a "cheap"
sollution without having to pay Multicharts for the feed.
Im not salty or anything but why pay for something if you could get it for free. lol
Bulls are stupid Animals!especially when Im short!
  • #2,252
  • Nov 11, 2011 8:58pm Nov 11, 2011 8:58pm
Quoting Jason Rogers
Hi PoundTrader,

We felt fixed margins that change infrequently was the lesser of the two evils. Most traders try to avoid maxing out their margin. A concern with variable margin is getting margin called due to fluctuating margin requirements.

Have a great weekend!


- Jason
That's make sense.

If traders know that they just allocating fixed $ for margin, in event of margin call, they surely know the remaining balance will be that fixed $, not less or more than that.

By the way, talk about leverage for standard account which is 200:1, I heard unconfirmed news from certain IB, FXCM UK trader able to request for up higher 400:1, although not announced in following link. May you re-confirm this "news"?

http://www.fxcm.co.uk/forex-margin-l...e-guide.jsp#q3

Quote
What leverage does FXCM offer?

FXCM offers flexible leverage on its forex trading accounts. The maximum amount of leverage available is around 200:1*. The high degree of available leverage is a popular attraction for many traders to the forex market, and most FXCM traders use the default leverage (determined by the default margin settings). But the amount of leverage utilized in your trading is up to you.

cheers
  • #2,253
  • Nov 12, 2011 3:14am Nov 12, 2011 3:14am
Dear i think that its all about spread which they charge to us. Moreover, i have one real and two demo accounts with three different brokers i notice price differences of 2 to 3 pips.

I think alpari uk show real time price however there is no question about ECN broker bc your are dealing directly with real market.
MOIZ VOHRA
  • #2,254
  • Nov 13, 2011 5:07pm Nov 13, 2011 5:07pm
I heard from traders probably FXCM run out of cash. I do not want to risk withdraw money. Major failures always come from the U.S. Problems with accounting. Better while watching from the sidelines. Hope get money before collapse
Attached Image (click to enlarge)
Click to Enlarge Name: fx finish.JPG Size: 118 KB
Once scalper always scalper
  • #2,255
  • Nov 13, 2011 6:30pm Nov 13, 2011 6:30pm
Quoting freemen
I heard from traders probably FXCM run out of cash. I do not want to risk withdraw money. Major failures always come from the U.S. Problems with accounting. Better while watching from the sidelines. Hope get money before collapse
To be blunt.... it appears you just lost too much and closed out your account.

Next time, cut your losing trades... letting them run like that really hurt your account.
FXGears.com
  • #2,256
  • Nov 14, 2011 3:41am Nov 14, 2011 3:41am
Quoting Jack_Larkin
To be blunt.... it appears you just lost too much and closed out your account.

Next time, cut your losing trades... letting them run like that really hurt your account.
Maybe that was MARGIN CALL

http://www.marketwatch.com/investing/stock/fxcm

Already chose brokers LMAX. Goldman Sachs projekt. For me Money Safety first. After MF GLOBAL this issue is important. Start think about after this letter:
Dear valued ...... customer,
As I’m sure you’re well aware, the last few days have been filled with news of troubled financial services companies. I want to take this opportunity to assure you that .... is financially stable and capitalised well beyond our requirements.
As a privately-owned company, we are not reliant on the financing of outside investors or influences of third-party companies to maintain our independent financial stability. We are virtually debt-free and have experienced consistent growth and profitability over the years.
Most importantly, though, is our absolute commitment to the highest standards of ethics, integrity and service to our customers. We are licensed and regularly audited on four continents to ensure our practices meet or exceed the standards set forth by the industry. Our impressive regulatory record speaks for itself.
We thank you for choosing .... to service your online trading needs and look forward to serving you for many years to come.

Dear Trader,
We are sorry to hear that you have chosen to close your Micro trading account. Per your request, we will have the balance of your account issued within three to five business days. If we are unable to complete your transaction as requested, we will contact you with an update.
Are you closing your account temporarily?
If you wish to reactivate your Micro account, simply fund your closed account online at myfxcm.com within six months from today’s date. If your account has been closed for more than six months, you will be required to submit a new trading agreement.
Thank you for your prior business and we wish you all the best in your future trading endeavors.
Kindest regards,
Micro Operations

Good luck you with your trading and BIG BIG profit
Once scalper always scalper
  • #2,257
  • Nov 14, 2011 9:40am Nov 14, 2011 9:40am
FXCM run out of cash??
that will be the day Im Donald Duck! LOL
you are joking right?
Bulls are stupid Animals!especially when Im short!
  • #2,258
  • Nov 14, 2011 10:03am Nov 14, 2011 10:03am
Quoting Jack_Larkin
To be blunt.... it appears you just lost too much and closed out your account.

Next time, cut your losing trades... letting them run like that really hurt your account.

Photoshop, you can't get to ZERO unless your holding over a big gap down, then exactly Zero not buying it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,259
  • Nov 14, 2011 11:47am Nov 14, 2011 11:47am
Quoting freemen
I heard from traders probably FXCM run out of cash. I do not want to risk withdraw money. Major failures always come from the U.S. Problems with accounting. Better while watching from the sidelines. Hope get money before collapse
Hi Freemen,

Your comments are misleading and inaccurate. FXCM is publicly traded on the NYSE (Ticker: FXCM) so any trader can view our operating metrics and financial statements to see that we have no debt. As opposed to "taking our word for it", you can look at our operating metrics to see our performance and financial position. You can view our Third Quarter 2011 Results and October Operating Metrics at: http://ir.fxcm.com/phoenix.zhtml?c=2...873&highlight=.

Safety of funds seems to be highlighted time after time due to poor company risk management as displayed by Lehman who over-leveraged and now poor decisions by MF Global. If your broker is running a dealing desk for your forex trades, you're depending on your broker to manage that risk. If they manage it poorly, it will result in losses for their business. FXCM's NDD forex execution eliminates that risk by hedging every transaction individually with a liquidity provider. Hope this helps.

- Jason
  • #2,260
  • Nov 14, 2011 12:10pm Nov 14, 2011 12:10pm
Quoting zam4ever
By the way, talk about leverage for standard account which is 200:1, I heard unconfirmed news from certain IB, FXCM UK trader able to request for up higher 400:1, although not announced in following link. May you re-confirm this "news"?

cheers
Hi Zam,

No, I have not heard about offering more than 200:1 leverage on standard accounts. With leverage, most traders focus on how much actual leverage they are using. Do you have a set leverage amount you trade with? For me, that level is about 8:1 meaning I can trade 80k per $10,000 I have in my account.

If you do want to ask about the 400:1 for a specific IB, then I think the chat support is the best option!

Talk to you soon and good luck trading this week.


- Jason
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