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FXCM Discussion

  • #3,261
  • Jan 2, 2013 8:41am Jan 2, 2013 8:41am
Quoting Makavelli7
hi Jason,

Im currently trading with a PRIME BROKER and want to open an FXCM active trader account with fxcm uk, what is the leverage on the active trader account?
Hi Makavelli7,

The default leverage for Active Trader accounts with FXCM UK is 200:1. Below is a table that shows the margin requirements for each currency based on a 1k microlot which is the minimum trade size.

http://img854.imageshack.us/img854/4...dermargins.png


The default leverage settings can be customized to suit your trading needs. If that is something that would interest you, I would encourage you to get in touch with one of our Active Trader specialists, so you can discuss your options.

Happy New Year!

Jason
  • #3,262
  • Jan 2, 2013 8:50am Jan 2, 2013 8:50am
Quoting fxnovice
Sorry, just checked, trading closed.
Happy holidays everyone!
Hi Fxnovice,

Glad you were able to find the holiday hours info. I hope you have been enjoying the holiday season.

Welcome to the forum

Jason
  • #3,263
  • Jan 6, 2013 12:44am Jan 6, 2013 12:44am
Quoting macroman
Ok thanks, I was hoping your answer will be what it is

FXCM offers 2 platforms one native and one MT4. Which one do you recommend ? I use basic indicators only.
I like FXCM.
However, I have not used native!
MT4 is always great to me.
  • #3,264
  • Jan 7, 2013 1:45am Jan 7, 2013 1:45am
FXCM is Crap Broker!

Been trying to place order, but this broker kept it from happening by responding with "trade context is busy", "order is in process", "price invalid"....
And this shit happens every time the price is in the best area to place the order. It has today already happened repeatedly, but this has been a suspiciously recurring aggravation with this broker for my entire time with them. I am fed up with FXCM!

I went over and placed the order using my Alpari account.

FXCM is a crap broker. Seems like they thwart traders whenever price is in a good area. Probably their rip-off dealing desk is just too damn busy placing it's own orders!

No more FXCM for me. I've been very patient, but this broker is ridiculous!

-traderahome
  • #3,265
  • Jan 7, 2013 7:29am Jan 7, 2013 7:29am
I can confirm that this is happening with my demo accounts also.

I have several EA's running that have hit TP and are now reversing, I cannot close any positions so it will skew all my results

This happened on NYE first then seemed fine and is happening again, not sure whts up, I disabled all my EA's thinking there were too many requests but still no joy closing anything manually.

Doesn't bode well for me opening a live account if this sort of thing can happen on that too??

Emailed support but not heard anything back.

Cheers,

Jon.


Quoting traderathome
FXCM is Crap Broker!

Been trying to place order, but this broker kept it from happening by responding with "trade context is busy", "order is in process", "price invalid"....
And this shit happens every time the price is in the best area to place the order. It has today already happened repeatedly, but this has been a suspiciously recurring aggravation with this broker for my entire time with them. I am fed up with FXCM!

I went over and placed the order using my Alpari account.

FXCM is a crap broker. Seems like they thwart...
  • #3,266
  • Jan 7, 2013 9:39am Jan 7, 2013 9:39am
Quoting traderathome
FXCM is Crap Broker!

Been trying to place order, but this broker kept it from happening by responding with "trade context is busy", "order is in process", "price invalid"....
And this shit happens every time the price is in the best area to place the order. It has today already happened repeatedly, but this has been a suspiciously recurring aggravation with this broker for my entire time with them. I am fed up with FXCM!

I went over and placed the order using my Alpari account.

FXCM is a crap broker. Seems like they thwart...

Quoting BodleyTunes
I can confirm that this is happening with my demo accounts also.

I have several EA's running that have hit TP and are now reversing, I cannot close any positions so it will skew all my results

This happened on NYE first then seemed fine and is happening again, not sure whts up, I disabled all my EA's thinking there were too many requests but still no joy closing anything manually.

Doesn't bode well for me opening a live account if this sort of thing can happen on that too??

Emailed support but not heard anything back.

Cheers,

Jon....
Hi guys,

I'm sorry to hear that you both experienced problems with your MT4 platforms recently. We did experience tech issues earlier in the trading day on some of our MT4 demo servers, but I check with our tech support team, and none of our live MT4 servers was affected.


Traderathome, the error messages you received could all be the result of having your maximum deviation set too low on your live account. On FXCM's No Dealing Desk forex execution model, we immediately offset client orders with our liquidity providers and add a pip markup for our profit. That means we make our money from the trading volume, not client losses. Since we aren't taking a market position against our clients on our NDD model, there is no incentive for us "thwart traders" as you say.

As I mentioned, it's possible your max deviation is set too low. We can only fill your orders at the price that's currently available in the market. If the price at which your order was placed is no longer available, and the current market price is outside the range you specified for your maximum deviation, you will get the messages you described. Since FXCM uses 5-digit pricing (fractional pips), every 10 points for the Maximum Deviation is equivalent to one pip. If you adjust your Max Dev to 30, that would equate to price range of 3 pips. You can do this by going to Tools > Options and the Trade tab as shown below. (If you trade frequently during news events when prices can change quickly, you might want to consider setting your Max Dev even higher.)

http://img811.imageshack.us/img811/9...mdeviation.png


If you already had your max dev set as I described above, and you feel the errors were cause by something else, I encourage you to log a case with the Trade Audit Committee to investigate. If there was an error in our trade execution, we will make the appropriate adjustment to your live account. Here is the form, if you need to log a case.

Jason
  • #3,267
  • Jan 7, 2013 10:56am Jan 7, 2013 10:56am
Seemed to be okay again about 30mins ago but started saying "Too Many Requests" when I try and close something down now.
  • #3,268
  • Jan 7, 2013 11:44am Jan 7, 2013 11:44am
Quoting BodleyTunes
Seemed to be okay again about 30mins ago but started saying "Too Many Requests" when I try and close something down now.
Hi BodleyTunes,

Try one of the demo registration links below. They will set you up with new MT4 demo login details on a different server.

 

  1. Demo account on standard spreads (No Dealing Desk execution)
  2. Demo account on reduced spreads (Dealing Desk execution)


Note that the amounts in your new demo account will be shown in British Pounds.

Jason

  • #3,269
  • Edited 2:26pm Jan 7, 2013 12:33pm | Edited 2:26pm
I just wanted to mention for traders in Sydney, Australia that FXCM will be holding a free seminar on Saturday, January 19th at Sheraton on the Park from 1 PM to 4:30. Market specialists will sift through the nitty-gritty of forex trading and offer actionable strategies to help you achieve your 2013 FX goals. For more details and to register, click on the link below.

http://img341.imageshack.us/img341/5...sydneysemi.png
CLICK HERE FOR DETAILS

  • #3,270
  • Jan 8, 2013 6:41am Jan 8, 2013 6:41am
Hi Jason,

My friend is trading from the country where their central bank has announced Forex trading is illegal for their residents. But he has UK bank account as he was staying in UK for quiet some time . So he like to trade the Forex funding from his UK bank account. So my question is if he has trading account with FXCM, does FXCM informs or discloses clients trading information to respective government or does FXCM send any report to respective country government from where the client is trading . Or put it in simple way does any Government can enquire trading information from FXCM related to clients trading from their country. Please clarify on this with right data so I can enable some of my friends to trade in fxcm with overseas account.

Looking forward to hear from you soon.


Kind Regards,
trpg

http://img341.imageshack.us/img341/5...sydneysemi.png
CLICK HERE FOR DETAILS

[/quote]
  • #3,271
  • Jan 8, 2013 7:11am Jan 8, 2013 7:11am
Quoting trpg
Hi Jason,

My friend is trading from the country where their central bank has announced Forex trading is illegal for their residents. But he has UK bank account as he was staying in UK for quiet some time . So he like to trade the Forex funding from his UK bank account. So my question is if he has trading account with FXCM, does FXCM informs or discloses clients trading information to respective government or does FXCM send any report to respective country government from where the client is trading . Or put it in simple way does any Government...
[/quote]


Your friend got it wink wink!!

FXCM isn't going to speak to your government not in there interests, your government isn't going to worry about the odd trader or 3 as long as it's not a huge cash draw from there country.

IMHO carry on, you'll be fine!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #3,272
  • Jan 8, 2013 10:12am Jan 8, 2013 10:12am
Hi Jason, I see that FXCM only supports a Trade Explorer for MT4 accts. Are there any plans to include Trading Station 2 in the future. Thanks, Bob
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #3,273
  • Jan 8, 2013 1:55pm Jan 8, 2013 1:55pm
Quoting trpg
Hi Jason,

My friend is trading from the country where their central bank has announced Forex trading is illegal for their residents. But he has UK bank account as he was staying in UK for quiet some time . So he like to trade the Forex funding from his UK bank account. So my question is if he has trading account with FXCM, does FXCM informs or discloses clients trading information to respective government or does FXCM send any report to respective country government from where the client is trading . Or put it in simple way does any Government...
Hi Trpg,

FXCM abides by the rules of the countries where we are regulated, specifically the UK, the US, Hong Kong and Australia, and we respect international laws. We do not open accounts in countries where we know forex trading is prohibited. Furthermore, our clients are required to provide proof of residence and identification when completing the application process, so FXCM can verify the source of funds. This page has a complete list of the countries where we can accept clients and links to our terms of business: www.fxcm.co.uk/open-forex-account.jsp

Welcome to the forum

Jason
  • #3,274
  • Jan 8, 2013 2:05pm Jan 8, 2013 2:05pm
Quoting AlbinaGrande
Hi Jason, I see that FXCM only supports a Trade Explorer for MT4 accts. Are there any plans to include Trading Station 2 in the future. Thanks, Bob
Hi Bob,

Trade Explorer is actually an interface created by Forex Factory and is MT4-specific. If you like trading on the FXCM Trading Station, but still wanted to use the Trade Explorer tool, you could set up an FXCM MT4 account. Our MT4 logins work on the Trading Station platform.

Jason
  • #3,275
  • Jan 9, 2013 3:09am Jan 9, 2013 3:09am
Jason,

FXCM does allow to open the account in the country I am talking about. I said only Central Bank has some restrictions not to trade in Forex for his residents. My only question does FXCM send any report to respective country governments about the clients trading from their country ..... Please clarify. This is just for understanding nothing more.


Quoting Jason Rogers
Hi Trpg,

FXCM abides by the rules of the countries where we are regulated, specifically the UK, the US, Hong Kong and Australia, and we respect international laws. We do not open accounts in countries where we know forex trading is prohibited. Furthermore, our clients are required to provide proof of residence and identification when completing the application process, so FXCM can verify the source of funds. This page has a complete list of the countries where we can accept clients and links to our terms of business: www.fxcm.co.uk/open-forex-account.jsp

Welcome...
  • #3,276
  • Jan 9, 2013 11:39am Jan 9, 2013 11:39am
Quoting Jason Rogers
Hi Bob,

Trade Explorer is actually an interface created by Forex Factory and is MT4-specific. If you like trading on the FXCM Trading Station, but still wanted to use the Trade Explorer tool, you could set up an FXCM MT4 account. Our MT4 logins work on the Trading Station platform.

Jason
Thanks Jason, I am not sure what this means. Can I see MT4 on the TS layout or am I stuck with the MT4 stuff, only logging on from the TS2 splash screen? Bob
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #3,277
  • Jan 9, 2013 11:46am Jan 9, 2013 11:46am
Quoting trpg
Jason,

FXCM does allow to open the account in the country I am talking about. I said only Central Bank has some restrictions not to trade in Forex for his residents. My only question does FXCM send any report to respective country governments about the clients trading from their country ..... Please clarify. This is just for understanding nothing more.
Hi Trpg,

What country is it? Also, do you have any links to the announcement you mentioned by their central bank? I will ask our Compliance department to review this information and get you their response.

Jason
  • #3,278
  • Jan 9, 2013 11:57am Jan 9, 2013 11:57am
Jason,

Country I am speaking about is India.... Please clarify your view now.

Thanks,
trpg
  • #3,279
  • Jan 9, 2013 11:57am Jan 9, 2013 11:57am
Quoting AlbinaGrande
Thanks Jason, I am not sure what this means. Can I see MT4 on the TS layout or am I stuck with the MT4 stuff, only logging on from the TS2 splash screen? Bob
Hi Bob,

FXCM's MT4 accounts are designed so that the login details work on both MT4 and Trading Station. That means you can use the MT4 platform to link up with Trade Explorer, while using the Trading Station platform to place your trades.

Jason
  • #3,280
  • Jan 9, 2013 1:37pm Jan 9, 2013 1:37pm
Quoting Jason Rogers
Hi Bob,

FXCM's MT4 accounts are designed so that the login details work on both MT4 and Trading Station. That means you can use the MT4 platform to link up with Trade Explorer, while using the Trading Station platform to place your trades.

Jason
Thanks again. I have set up a new MT4 Demo which I can launch from a TS2 splash screen on both my local machine and VPS. It emulates TS2 and permits me now to link to a Forex Factory Trade Explorer which I have created. My only question is are there any quirks associated with this configuration that I need to be aware of? Bob
Do not dwell in the past, do not dream of the future, concentrate the mind.
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