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FXCM Discussion

  • #2,461
  • Jan 5, 2012 1:53pm Jan 5, 2012 1:53pm
Quoting Forex5050
I'm not defending any broker here, but fx13 I saw also in other broker threads that you spent a lot of time comparing broker platform's, especially GO Markets. But they way you act in the forum and even posting in your signature makes me wonder what your real interests are.
So what is my interest?

If I have problem I report them to the community to leverage the power of the community that's ALL WE HAVE here to fight against br0kers & try to get some respect here.

I reported earlier NZDUSD price spike & you can see Jason replied they got bad ticks. I posted earlier about a strange bug & this second anomaly today.

I got here before a big issue
http://www.forexfactory.com/showthread.php?t=246069

So it ended up it was a bug know to FXCM but took time to be disclosed.

I'm not chasing any br0ker. BUT expect that brokers will be fair which is an illusion.

Otherwise I enjoy testing brokers a lot to compare like any trader looking for best execution/ trading experience.

13
Brokers are angels
  • #2,462
  • Jan 5, 2012 5:38pm Jan 5, 2012 5:38pm
Fx13 is doing a good service.

I dont trust fxcm either yet, but im giving them room to prove themselves since nasty lawsuit. I watch this thread with intrest.
  • #2,463
  • Jan 5, 2012 5:43pm Jan 5, 2012 5:43pm
Hi Jason,

Just watching my charts here & saw another rocket made by FXCM & hate to see my technicals messed up with such spikes.

Silver just got crazy.



13
Attached Image (click to enlarge)
Click to Enlarge Name: Xag spile 6-1-2012.jpg Size: 123 KB
Brokers are angels
  • #2,464
  • Jan 5, 2012 7:23pm Jan 5, 2012 7:23pm
Quoting fx13
Hi Jason,

Just watching my charts here & saw another rocket made by FXCM & hate to see my technicals messed up with such spikes.

Silver just got crazy.



13

2 Commens for FXCM and FX13:

FXCM : I did see spikes like this on FXCM charts before. My take is that whether it is fraud or not; if it happens more often,which I do not know, for FXCM than do for other brokers; then it should be something worth FXCM to look into. After all, it impacts all FXCM clients whether the spike is an intended stop hunt or not.

FX13: To make the comparison impartial, may be you could show us what happened on the charts on an average day for all three brokers rather than just pick on one FXCM scenario, because may be there are also spikes made by other brokers during another time interval.



David Wu
  • #2,465
  • Jan 5, 2012 8:52pm Jan 5, 2012 8:52pm
@FX13
thanks for pointing this out with your charts
I guess I am not the only one who has seen this with FXCM before
that and when the servers shut down during high volume

other than that I like FXCM, and I just try to work my strategy around these things
  • #2,466
  • Jan 6, 2012 11:48am Jan 6, 2012 11:48am
Quoting fx13
Hi Jason,

Just watching my charts here & saw another rocket made by FXCM & hate to see my technicals messed up with such spikes.

Silver just got crazy.



13
Hi 13,

I confirmed with the trading desk that this was indeed a bad tick, and our production support team is investigating the cause so these errors are minimized as much as possible going forward.

Jason
  • #2,467
  • Jan 6, 2012 11:49am Jan 6, 2012 11:49am
Quoting tommbstone
Fx13 is doing a good service.

I dont trust fxcm either yet, but im giving them room to prove themselves since nasty lawsuit. I watch this thread with intrest.
Hi tommbstone,

The case was dismissed as of November 29, 2011.

Jason
  • #2,468
  • Jan 6, 2012 11:54am Jan 6, 2012 11:54am
Quoting davidwu61
FXCM : I did see spikes like this on FXCM charts before. My take is that whether it is fraud or not; if it happens more often,which I do not know, for FXCM than do for other brokers; then it should be something worth FXCM to look into. After all, it impacts all FXCM clients whether the spike is an intended stop hunt or not.
Hi David,

I appreciate your comments and it is something we look into very seriously when this occurs.

On another note, you asked earlier this week when the MT4 upgrade to the new faster version of MT4 would take place. USD denominated accounts are scheduled to be moved this weekend, and an email was sent to clients a few days ago with information about the move. EUR accounts are tentatively scheduled to get the upgrade next weekend. Let me know if you have any questions about the new setup.

If anyone else needs help or has questions on Sunday after the MT4 upgrade takes place, please do not hesitate to contact client services.

Jason
  • #2,469
  • Edited 12:34pm Jan 6, 2012 12:10pm | Edited 12:34pm
Quoting Jason Rogers
Hi 13,

I confirmed with the trading desk that this was indeed a bad tick, and our production support team is investigating the cause so these errors are minimized as much as possible going forward.

Jason
Hi,

At least that was quick but nothing about Eurgbp "bad tick tack" & lows also the stop still hit even after being removed?

Thanks
13
Brokers are angels
  • #2,470
  • Jan 6, 2012 2:32pm Jan 6, 2012 2:32pm
Quoting Callisto
Curious about the new features in Metatrader 5?

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People !!!
anybody knows any broker (demo is fine) offering SP500 and/or 10yr T-Note on MT5?
  • #2,471
  • Jan 7, 2012 9:34pm Jan 7, 2012 9:34pm
Quoting fx13
Hi,

At least that was quick but nothing about Eurgbp "bad tick tack" & lows also the stop still hit even after being removed?

Thanks
13
Hello fx13,

What makes you think it is a stop hunt? perhaps FXCM executed trades at off market quotes - EUR/GBP at 10 to 15 pips off market -when market rebalances - that would be a nice spread.

Now the question is - would FXCM adjust your rate after execution of off market price if you have longed that trade?

The NFA tagged them $2mio and the CFTC for $14mio - for that practice - or something that has to do with execution. You are proving that it is a big problem - total disadvantage to the traders when they get executed at off market quotes.

They have an NDD commerical running around - makes me laugh a bit. They are exactly that man in the mask.

A platform which execute off market rates should not be offered to clients.
  • #2,472
  • Jan 8, 2012 3:40am Jan 8, 2012 3:40am
Quoting Dick Clark
Hello fx13,

What makes you think it is a stop hunt? perhaps FXCM executed trades at off market quotes - EUR/GBP at 10 to 15 pips off market -when market rebalances - that would be a nice spread.

Now the question is - would FXCM adjust your rate after execution of off market price if you have longed that trade?

The NFA tagged them $2mio and the CFTC for $14mio - for that practice - or something that has to do with execution. You are proving that it is a big problem - total disadvantage to the traders when they get executed at off...
FXCM got fined for their dirty tricks on slippage as they were swallowing all positive slippage only to give negative slippage. Passing all execution risk to customers without any benefit & then NFA slapped them. The bad part over that was FXCM claiming fixing that & funding back customers & it WAS ONLY US customers.

Any way here the problem is Eurgbp ticks only happened in FXCM the low is outrageous it's below all brokers arround & most of all it had above 10 pips spread only to hit stops without triggering any orders to go long below 0.8250. FXCM have solid liquidity why this would happen only to FXCM while even ECN like dukascopy showing real interbank prices were not hit so badly?

Even brokers using virtual dealer can claim NDD scam as long the algo will play the dirty tricks with you.

Also now seeing FXCM talking about their raw feed as ECN feed would be funny to see NFA dig over that claim!

13
Brokers are angels
  • #2,473
  • Jan 8, 2012 4:38am Jan 8, 2012 4:38am
I am a new member and I have a micro account with FXCM. I am still trying to understand how their system works. I am glad that some feedbacks are available in this forum.
  • #2,474
  • Jan 8, 2012 3:03pm Jan 8, 2012 3:03pm
Quoting Jason Rogers
Hi tommbstone,

The case was dismissed as of November 29, 2011.

Jason

Yes Jason we all know this.
Your company paid a big fine and the case was dismissed. Your company did wrong and IT PAID.

But at the end of the day a bad taste was left in the clients mouths, and the reputation on FXCM has been badly tarnished. Regardless of the big pay out your company HAD to make, your company still committed a great offense with its clients, and MONEY was lost.

So I watch this thread with interest to see how FXCM comes out.

I would hope after losing such a big law suit that FXCM would now be one of THE BEST brokers in the business since they have to rebuild client trust.... Thus I watch and wait and when I feel that questions of reputation, fairness and the rest are answered I will open an account.

On a side note, I'm very glad FXCM has you here taking questions, giving answers, and giving support. I think its great and shows some light in good favor with FXCM.
Thank you sir.
T
  • #2,475
  • Jan 9, 2012 8:44pm Jan 9, 2012 8:44pm
Jason,

I downloaded the new Metatrader platform and have been evaluating it on a demo account for about two weeks. I have noticed an inconsistency with the Tick/Volume data provided by Metatrader. I have been comparing it with the Tick/Volume data provided with MarketScope and have noticed that new bars provided by the MT4 appear to match those of MarketScope which is fine. However, those bars downloaded via history are not matching.

So for instance, if you open up a new chart in MT4 with a new time frame the last days worth of data has volumes that match MarketScope but beyond that, the data appears to be considerably off. I have deleted the history data for a few pairs and timeframes and the new Tick/Volume data downloaded from the FXCM server still does not match. I have attached a few charts one from Metatrader and the other from MarketScope to demonstrate the problem. Can you shed some light on this and whether it is possible to get Tick/Volume data for all the bars in Metatrader to match those from MarketScope?

Many traders use the Tick Volume in their analysis and having consistent data is important.

Thank you for your attention.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: FXCM_MS_vol.jpg Size: 79 KB
Click to Enlarge Name: fxcm_mt4_vol.jpg Size: 81 KB
  • #2,476
  • Jan 10, 2012 1:10am Jan 10, 2012 1:10am
Hi Jason,

Does the candles in this chart looks right to you ?

FXCM MT4 Version 4 Build 409

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 23 KB


David Wu
  • #2,477
  • Jan 10, 2012 12:41pm Jan 10, 2012 12:41pm
Quoting tobinare
Jason,

I downloaded the new Metatrader platform and have been evaluating it on a demo account for about two weeks. I have noticed an inconsistency with the Tick/Volume data provided by Metatrader. I have been comparing it with the Tick/Volume data provided with MarketScope and have noticed that new bars provided by the MT4 appear to match those of MarketScope which is fine. However, those bars downloaded via history are not matching.

So for instance, if you open up a new chart in MT4 with a new time frame the last days worth of data has...
Hi tobinare,

Thanks for downloading the new version of MT4 and I appreciate the detailed feedback. You mentioned that the bars downloaded via history are not matching. Are you downloading data from the MT4 History Center? I'm double checking this with you because the history center data comes from Metaquotes and not FXCM so the volume could differ if comparing against the Marketscope chart volume. And when comparing on my side between demos, I'm not seeing a difference in volume from Marketscope to MT4 charting. I await your clarification regarding the data download.

Jason
  • #2,478
  • Jan 10, 2012 12:45pm Jan 10, 2012 12:45pm
Quoting davidwu61
Hi Jason,

Does the candles in this chart looks right to you ?

FXCM MT4 Version 4 Build 409

Attachment

David Wu
Hi David,

It does not look right to me either. I checked with tech support and there was an instance reported earlier of gaps appearing in some GBP/USD daily candles. That particular issue has been fixed, and I'm not seeing the same on AUD/USD displayed on my chart. Can you X out of the chart and re-load to see if it corrects the problem.

Cheers,

Jason
  • #2,479
  • Jan 10, 2012 1:55pm Jan 10, 2012 1:55pm
Quoting Jason Rogers
Hi tobinare,

Thanks for downloading the new version of MT4 and I appreciate the detailed feedback. You mentioned that the bars downloaded via history are not matching. Are you downloading data from the MT4 History Center? I'm double checking this with you because the history center data comes from Metaquotes and not FXCM so the volume could differ if comparing against the Marketscope chart volume. And when comparing on my side between demos, I'm not seeing a difference in volume from Marketscope to MT4 charting. I await your clarification regarding...
Jason,

I only deleted the data in my Metatrader's history thru the History Center and took care not to download any data from the Metaquotes server. So once the data was deleted, I opened the chart and timeframe of the pair which I deleted and got the discrepancy that I described in my original post. So when I open the chart, it is originally empty and is then automatically backfilled with the non matching data. I don't know it is automatically backfilled from the Metatrader Server of FXCM.

Please note, if I let Metatrader run, each new incoming bar appears to match the MarketScope data. It's just the backfilled data. I hope this is clear and you can help.
  • #2,480
  • Jan 11, 2012 4:41pm Jan 11, 2012 4:41pm
Special announcement for Canadian traders. FXCM Canada offered by Friedberg Direct was officially launched today, and the website is www.fxcm.ca. It is open to all Canadian traders including residents of British Columbia!
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