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  • #3,481
  • Mar 28, 2013 9:20am Mar 28, 2013 9:20am
Quoting Jonny 5
Jason, I have discovered an issue with FXCM that I hope you can resolve. I trade a VSA related strategy which relies heavily on tick volume. I have been looking at your MT4 feed and have compared it the feed you provide via Trade Interceptor. I quite often see the highest volume of the day on the hourly chart is completely different between the two platforms.
Could you explain why I am seeing two differing feeds from the same broker on the two different platform?

Many thanks in advance.
Hi Jonny,

I haven't used the Trade Interceptor platform myself, but here's something you might want to check: Are both our MT4 platform and your Trade Interceptor platform using the same start and end time for the trading day?

For example, our MT4 platform begins and ends the 24-hour trading day at midnight 00:00 GMT. On the other hand our Trading Station platform begins and ends the trading day at 5pm New York time, which is 21:00 GMT. If your Trade Interceptor platform also uses a 5pm NYT cutoff, then there will be 3 hourly bars that will be factored into the highest daily tick volume calculations of Trade Interceptor that will be different from 3 hourly bars factored in on the MT4 platform.

If that does not explain the discrepancy, please post screenshots from the two platforms, and I'll take closer look :nerd:

Jason
  • #3,482
  • Mar 28, 2013 9:29am Mar 28, 2013 9:29am
Hi Jason, thanks for the reply, I think you may have misunderstood the point I'm making.
If you compare the two hourly charts, the bar with the highest volume for that day (hourly bar) is different between the two platforms. I'll see if I can grab a couple of screenshots for you.
  • #3,483
  • Mar 28, 2013 9:36am Mar 28, 2013 9:36am
Here's two screenshots - I've highlighted yesterday's volume even though there's only a slight discrepency you can see other examples if you work back.

My understanding is that when a tick comes in it then registers +1 on the histogram. My assumption would therefore be that one of the platforms is not receiving the same number of ticks as the other?


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  • #3,484
  • Edited 1:29pm Mar 28, 2013 1:11pm | Edited 1:29pm
Easter Holiday Trading Hours

Below are the CFD trading hours for Easter. Forex trading hours are as normal.

http://media.dailyfx.com/sales/micro...smarch2013.png

All times above are in GMT.
  • #3,485
  • Mar 28, 2013 1:28pm Mar 28, 2013 1:28pm
Quoting Jonny 5
Here's two screenshots - I've highlighted yesterday's volume even though there's only a slight discrepency you can see other examples if you work back.

My understanding is that when a tick comes in it then registers +1 on the histogram. My assumption would therefore be that one of the platforms is not receiving the same number of ticks as the other?


Attachment

Attachment
I notice one screenshot says "AVG", while the other does not. Are you sure the charts are being drawn the same? Some software can draw the chart using an average of the bid and ask while others display them separately. I suspect this is an influencing factor.
  • #3,486
  • Mar 28, 2013 4:08pm Mar 28, 2013 4:08pm
Quoting Jonny 5
Here's two screenshots - I've highlighted yesterday's volume even though there's only a slight discrepency you can see other examples if you work back.

My understanding is that when a tick comes in it then registers +1 on the histogram. My assumption would therefore be that one of the platforms is not receiving the same number of ticks as the other?


Attachment

Attachment
Quoting Kanzler
I notice one screenshot says "AVG", while the other does not. Are you sure the charts are being drawn the same? Some software can draw the chart using an average of the bid and ask while others display them separately. I suspect this is an influencing factor.
Thanks Kanzler, I think you're on to something regarding the "AVG". The MT4 platform charts the bid price. If the other charts are plotting the average price between the bid and ask, then while there will be a high degree of correlation between the tick volumes, they won't be identical.
  • #3,487
  • Mar 29, 2013 7:06pm Mar 29, 2013 7:06pm

New Update Released for Trading Station Mobile



An new update has been released for the Trading Station Mobile platform for smartphones and tablets. New users will automatically download the latest version. Existing users can install the update at the Google Play Store for Android devices or the Apple App Store for iPad and iPhone. Go to Settings > About on the platform to confirm you have the latest version of Trading Station Mobile (Version 1.6.032913).


http://www.fxcm.com/assets/img/pages...e-overview.jpg



New Features

 

  1. Faster Login Procedure
  2. Option to Store Multiple Usernames
  3. New Account Menu
  4. MyFXCM Button for Deposits and Withdrawals
  5. Economic Calendar Notifications
  6. Economic Calendar Filter
  7. Collapsible Daily Rows in Economic Calendar
  8. DFX News Notifier Indicator
  9. Real Time News feed for German and French
  10. Trading History Arrows
  11. Ability to Save Chart Templates
  12. Ability to Customize Pip Format and History Size
  13. Ability to Display Calendar Event Description
  14. Ability to Run Combined Account Statements
  15. Ability to Resize Subchart (Oscillator Indicator) Window
  16. New Chart Menu Layout
  17. New Pivot Points Indicator
  18. Account bar fields are now selectable
  19. Additions to Chart View Settings
  20. AutoScale Button for Charts
  21. Ruler for Price/Candles/Pips
  22. Crosshair on chart for Open, High, Low, Close

  • #3,488
  • Apr 1, 2013 8:30am Apr 1, 2013 8:30am
Hello, I'm interested in opening a dealing desk account with FXCM UK. I have read through the information available on your website but I still don't fully understand the dealing desk execution. I hope you can provide me more information on the dealing desk.

Besides that, I have a question, if FXCM is making profit when I suffer losses, wouldn't FXCM be considered a bucket shop? Also, am I trading against FXCM UK or does my trades get passed to FXCM US like the no dealing desk?
  • #3,489
  • Apr 1, 2013 2:20pm Apr 1, 2013 2:20pm
Quoting titanmelvin
Hello, I'm interested in opening a dealing desk account with FXCM UK. I have read through the information available on your website but I still don't fully understand the dealing desk execution. I hope you can provide me more information on the dealing desk. Besides that, I have a question, if FXCM is making profit when I suffer losses, wouldn't FXCM be considered a bucket shop? Also, am I trading against FXCM UK or does my trades get passed to FXCM US like the no dealing desk?
Hi Titanmelvin,

I'm happy to discuss the differences between our No Dealing Dealing (NDD) forex execution and our new dealing desk option. In the dealing desk model, FXCM acts as a market marker, setting the prices and spreads on which you trade. In this execution model, FXCM is on the other side of your trades. We can see your stops and limits and we profit from your trading losses. This is true for all brokers that offer dealing desk execution. Because we create the prices on which you trade, FXCM's dealing desk is able to offer lower spreads than those provided by our No Dealing Desk (NDD) model.

http://imageshack.us/a/img834/6995/f...ddd2013mar.png


While FXCM believes that NDD execution provides the best overall trading experience, we also offer dealing desk execution as an option for traders whose primary concern is low spreads. Dealing desk execution is used by most brokers in the forex industry. However, FXCM's dealing desk is different because we use the FXCM NDD price feed as a base to derive prices and execute orders. You can confirm this by comparing our NDD and dealing desk price feeds side by side. You will see that the prices change at the exact same time on both feeds.

Standard Spreads (No Dealing Desk)
http://img3.imageshack.us/img3/6146/...september1.png

Lower Spreads (Dealing Desk)
http://img15.imageshack.us/img15/723...eptember12.png


The only difference is we reduce our fixed pip markup on both the sell price (bid) and buy price (ask), so the spreads on dealing desk are exactly 1 pip lower than our NDD spreads for the most popular currency pairs. This means that our dealing desk execution shares important features with our NDD execution such as no re-quotes, and no restrictions on stops and limits. But no matter what similarities the two execution models share, there are fundamental differences between them, and you may experience certain trading limitations when you trade with our dealing desk. This is why we recommend NDD execution for most clients.

http://imageshack.us/a/img198/7770/f...arison2013.png



Operating a dealing desk can be riskier than providing NDD execution because we (the market maker) are on the other side of your trades. When you are long a currency pair, we are short. When you are short, we are long. Likewise, when you trade profitably, we may experience trading losses. Most dealing desks manage their trading losses by interfering with their client's trading such as re-quoting their orders, delaying their execution, skewing prices, or widening spreads. We do none of that at FXCM.

If your trading style exposes us to more risk than we care to manage, we will simply change your execution type to NDD, where there are no restrictions on the trading style or strategy used. This is how FXCM can comfortably offer both options without having to resort to the "dealer intervention" that is common at many forex brokers. Automated strategies and strategies that trade at a high frequency or scalp the market are least suitable for dealing desk execution. We encourage traders who use these types of strategies to open an account that provides them with NDD execution, which is compatible with all trading strategies.

I hope this has clarified things for you regarding the differences between FXCM's No Dealing Desk (NDD) and dealing desk forex execution models. Please let me know if you have any follow up questions.

Jason
  • #3,490
  • Apr 1, 2013 2:44pm Apr 1, 2013 2:44pm
Quoting titanmelvin
Hello, I'm interested in opening a dealing desk account with FXCM UK. I have read through the information available on your website but I still don't fully understand the dealing desk execution. I hope you can provide me more information on the dealing desk. Besides that, I have a question, if FXCM is making profit when I suffer losses, wouldn't FXCM be considered a bucket shop? Also, am I trading against FXCM UK or does my trades get passed to FXCM US like the no dealing desk?
To clarify the "bucket shop" question, there are two relevant legal sections. The first is that created by the US Supreme Court, as follows.

Quoting Gatewood v. North Carolina (1906)
"[a]n establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in."
FXCM's execution models do not fall under this definition. The second relevant legal section is the definition by the state of New York, where FXCM's corporate headquarters reside and under which jurisdiction they fall. The relevant New York statute (provided by Justia) defining a "bucket shop" is thus:

Quoting New York General Business Law § 351 (2012)
§ 351. Acts prohibited; penalty for violation. Any person, copartnership, firm, association or corporation, whether acting in his, their or its own right or as the officer, agent, servant, correspondent or representative of another, who shall: 1. Make or offer to make, or assist in making or offering to make any contract respecting the purchase or sale, either upon credit or margin, of any securities or commodities, including all evidences of debt or property and options for the purchase thereof, shares in any corporation or association, bonds, coupons, scrip, rights, choses in action and other evidences of debt or property and options for the purchase thereof or anything movable that is bought and sold, intending that such contract shall be terminated, closed or settled according to, or upon the basis of the public market quotations of or prices made on any board of trade or exchange or market upon which such commodities or securities are dealt in, and without intending a bona fide purchase or sale of the same; or, 2. Makes or offers to make or assists in making or offering to make any contract respecting the purchase or sale, either upon credit or margin, of any such securities or commodities intending that such contract shall be deemed terminated, closed and settled when such market quotations of or such prices for such securities or commodities named in such contract shall reach a certain figure, without intending a bona fide purchase or sale of the same; or, 3. Makes or offers to make, or assists in making or offering to make any contract respecting the purchase or sale, either upon credit or margin of any such securities or commodities, not intending the actual bona fide receipt or delivery of any such securities or commodities, but intending a settlement of such contract based upon the difference in such public market quotations of or such prices at which said securities or commodities are, or are asserted to be, bought or sold; or, 4. Shall, as owner, keeper, proprietor or person in charge of, or as officer, director, stockholder, agent, servant, correspondent or representative of such owner, keeper, proprietor or person in charge of, or as officer, director, stockholder, agent, servant, correspondent, or representative of such owner, keeper, proprietor or person in charge, or of any other person, keep, conduct or operate any bucket shop, as hereinafter defined; or knowingly permit or allow or induce any person, copartnership, firm, association or corporation whether acting in his, their or its own right, or as the officer, agent, servant, correspondent or representative of another to make or offer to make therein, or to assist in making therein, or in offering to make therein, any of the contracts specified in any of the three preceding subdivisions of this section. Shall be guilty of a felony. The prosecution, conviction and punishment of a corporation hereunder shall not be deemed to be a prosecution, conviction or punishment of any of its officers, directors or stockholders.
I underlined the most important part of that statute - a bucket shop has no actual dealing with purchasing or selling the asset in question. In a NDD model, the financial instruments are actually purchased and sold through the broker's liquidity providers. In the DD model, the broker takes the inverse position you take in order to fill your order. While they do profit when you lose, the profit does come from the actual sale and purchase of the financial instrument. If you feel I missed something please feel free to point it out.
  • #3,491
  • Apr 1, 2013 2:53pm Apr 1, 2013 2:53pm
Quoting titanmelvin
Hello, I'm interested in opening a dealing desk account with FXCM UK. I have read through the information available on your website but I still don't fully understand the dealing desk execution. I hope you can provide me more information on the dealing desk. Besides that, I have a question, if FXCM is making profit when I suffer losses, wouldn't FXCM be considered a bucket shop? Also, am I trading against FXCM UK or does my trades get passed to FXCM US like the no dealing desk?
Hi Titanmelvin,

Just a follow up to my previous post: I notice that your forum profile says you live in Australia. In that case, you can open an account on our new dealing desk forex execution with FXCM Australia (www.fxcm.com.au). It offers the exact same No Dealing Desk (NDD) and dealing desk forex execution options as FXCM UK and FXCM US, but FXCM Australia is regulated by the Australian Securities and Investments Commission (ASIC).

Jason
  • #3,492
  • Apr 1, 2013 6:54pm Apr 1, 2013 6:54pm
Hi Everyone,

We've recently received reports of traders with other brokers being prohibited from using certain trading strategies like BTN Lightning. Apparently these brokers have gone as far as to freeze the accounts of their clients suspected of using these strategies and even removed past profits from client accounts.

Strategies that involve scalping or trading during news can present challenges for brokers in managing their risk if they operate a dealing desk or if they use STP/NDD but have only one liquidity provider. A sudden influx of buying or selling by many clients all at once can create great difficulty for such a broker, especially during illiquid market events. Not managing this risk effectively can result in the broker taking losses when their clients are profitable. Since these brokers are taking the market risk on the other side of their clients' trades, a profit for the client can mean a loss for the broker. In the end, the broker's interest in remaining in business will often be a deciding factor in how they operate.

At FXCM, we welcome all trading strategies on our No Dealing Desk (NDD) forex execution (scalp, trade the news, use any EA). On our NDD model, we offset client orders with 10+ liquidity providers which include some of the largest banks in the world. We make our money from client trading volume, not client losses. If you have a profitable strategy that is no longer welcome at your current broker, I encourage you to try FXCM's No Dealing Desk forex execution for yourself.

You've heard FXCM speak at length over the past year about the importance of taking caution in choosing a broker especially in light of recent events with MF Global, PFG, Worldspreads, and Cyprus. You need to make sure you know who you're trading with.

Jason
  • #3,493
  • Edited 10:32pm Apr 3, 2013 1:26pm | Edited 10:32pm
****CAUTION****

I have been using FXCM or Marketscope for awhile now and I am noticing huge price spikes all over the place on every currency pair. What I mean is that price spikes lower or higher than my Dukascopy or Oanda feed. I have many many examples!! I have even emailed them to FXCM without a response from them. Please check your feeds on the 10min and lower charts you will see what I mean! You can see them on the smaller time frame charts feeds! You will find hundreds of huge price spikes that are larger and they will take your stops out!!!

Please check for your self!!
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  • #3,494
  • Apr 3, 2013 6:00pm Apr 3, 2013 6:00pm
Quoting scandisk
****CAUTION**** I have been using FXCM or Marketscope for awhile now and I am noticing huge price spikes all over the place on every currency pair. What I mean is that price spikes lower or higher than my Dukascopy or Oanda feed. I have many many examples!! I have even emailed them to FXCM without a response from them. Please check your feeds on the 10min and lower charts you will see what I mean! You can see them on the smaller time frame charts feeds! You will find hundreds of huge price spikes that are larger and they will take your stops out!!!...
Hi Scandisk,

Thank you for posting these charts. I've asked our tech support team to review all of this information, and then I will provide you with a detailed response. I would also like to follow up on the emails you sent us that never got a response. Please send me a private message telling me the email address you used to send these emails and also which of our email addresses you sent them to. I will then have our tech support team review that information as well.

Welcome the forum

Jason
  • #3,495
  • Edited 7:12pm Apr 3, 2013 6:33pm | Edited 7:12pm
Thanks Jason Rogers for getting back to me but I have already closed my account with FXCM! Plus I have been fighting with FXCM over weekend spikes

blowing through my stops way past my stop levels. This was the last straw with FXCM.

I am seeing erroneous price spikes all over the place like a loose canon and nobody from FXCM responding to my emailed charts as evidence. I am little pissed and feel cheated by FXCM.

For those thinking of joining FXCM they have wild price spikes better off with Oanda or Dukascopy just look at my last post to see for your selves! FXCM platform or Marketscope has exellent range of indicators and I love FXCodebase! But the price feed is very erratic and has many huge price spikes that other brokers don't have!

Good Luck!
  • #3,496
  • Apr 3, 2013 7:47pm Apr 3, 2013 7:47pm
Quoting scandisk
Thanks Jason Rogers for getting back to me but I have already closed my account with FXCM! Plus I have been fighting with FXCM over weekend spikes blowing through my stops way past my stop levels. This was the last straw with FXCM. I am seeing erroneous price spikes all over the place like a loose canon and nobody from FXCM responding to my emailed charts as evidence. I am little pissed and feel cheated by FXCM. For those thinking of joining FXCM they have wild price spikes better off with Oanda or Dukascopy just look at my last post to see...
The only one who should feel cheated is the FXCM support team. You had no intent of getting help here you just wanted to trash the company image for whatever purpose you may have.

I've been using FXCM for a couple of years now and I've never had any of the problems you seem to have, and in fact I've found their customer service to be top notch. Even had one representative willing to communicate with another company I was having trouble with in order to get something resolved, so I don't buy your account of things.
  • #3,497
  • Apr 3, 2013 7:59pm Apr 3, 2013 7:59pm
Quoting Kanzler
The only one who should feel cheated is the FXCM support team. You had no intent of getting help here you just wanted to trash the company image for whatever purpose you may have. I've been using FXCM for a couple of years now and I've never had any of the problems you seem to have, and in fact I've found their customer service to be top notch. Even had one representative willing to communicate with another company I was having trouble with in order to get something resolved, so I don't buy your account of things.

I am sorry you feel this way but this is just my experience with the broker not yours. But if you don't respect my experience with this broker please leave your thoughts to your self. I didn't come here to start up a debate but to reveal my honest experience with the FXCM. I only want to share evidence with fellow traders so they can make accurate decisions for them self's. I am not trashing them either. If you look at other price feeds of other brokers you will begin to get the whole picture!!

Jonny
  • #3,498
  • Apr 3, 2013 8:18pm Apr 3, 2013 8:18pm
Quoting scandisk
I am sorry you feel this way but this is just my experience with the broker not yours. But if you don't respect my experience with this broker please leave your thoughts to your self. I didn't come here to start up a debate but to reveal my honest experience with the FXCM. I only want to share evidence with fellow traders so they can make accurate decisions for them self's. I am not trashing them either. If you look at other price feeds of other brokers you will begin to get the whole picture!! Jonny
Given your attitude, your brand new account status, and your unwillingness to work with Jason I think your testimony is highly suspect. There are many of us who use FXCM here (as well as other respectable brokers like Dukascopy and Oanda) and if the issue is as you state many others of us would be experiencing the complaints you have. If the problem is as you state, why don't you talk it out with Jason here on the public forum so the rest of us can see if this is simply a misunderstanding or a legitimate issue? I would personally be quite interested in the outcome.
  • #3,499
  • Apr 3, 2013 8:25pm Apr 3, 2013 8:25pm
Quoting Kanzler
Given your attitude, your brand new account status, and your unwillingness to work with Jason I think your testimony is highly suspect. There are many of us who use FXCM here (as well as other respectable brokers like Dukascopy and Oanda) and if the issue is as you state many others of us would be experiencing the complaints you have. If the problem is as you state, why don't you talk it out with Jason here on the public forum so the rest of us can see if this is simply a misunderstanding or a legitimate issue?

I can prove everything and I would also adivse you and others to look at past price feeds from Marketscope and Oanda and Dukcascopy on the smaller time frames to see what I am seeing! Just take the pair you normally trade and put the different brokers side by side and you will see the difference in price feeds and that almost once a day FXCM will spike much more than the 2 previous brokers not all the time but at least once aday and please measure the spikes as well. I trade with 3 different brokers Oanda Dukascopy and FXCM nolonger.

Please look for self before you speak!
  • #3,500
  • Edited 10:20pm Apr 3, 2013 8:54pm | Edited 10:20pm
Quoting Kanzler
Given your attitude, your brand new account status, and your unwillingness to work with Jason I think your testimony is highly suspect. There are many of us who use FXCM here (as well as other respectable brokers like Dukascopy and Oanda) and if the issue is as you state many others of us would be experiencing the complaints you have. If the problem is as you state, why don't you talk it out with Jason here on the public forum so the rest of us can see if this is simply a misunderstanding or a legitimate issue? I would personally be quite interested...

Here you go smart guy!!! today on the U/C and E/U You start to check other pairs for your self!
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