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FXCM Discussion

  • #3,761
  • Jun 13, 2013 5:26am Jun 13, 2013 5:26am
Quoting mitch77
{quote} Another disgruntled trader blaming their broker for their own trading mistakes.

what do you call a mistake? if the trader try to close a profitable position and fxcm dont let you close the trade untile it reverse and than when its losing suddenly you are able to close it very fast and very easy. do you call this a mistake?

are you an independent trader???.
trading is not an addiction. it's a profession.
  • #3,762
  • Jun 13, 2013 11:38pm Jun 13, 2013 11:38pm
Quoting ngson99
{quote} I have been with fxcm for 1.5 years. I am on TS2 with active trader account. Tasco, I have the same slippage issue as you experience. I can tell you their standard operation manual. Client files a trade audit: if this is new client and s/he hasn't submit any case similar to this then provide good faith credit if not, pretend that a comprehensive review has been done and there was no error on the system and give client a lecture on try to use limit order instead This will filter a few cases (say out 100 cases, only 50 cases go to stage...
Hi Ngson,

You seem to be implying that whenever you encounter slippage, it means there was an error in the trade execution, or worse that it's something deliberate on our part, which is not the case. It's important to keep in mind that slippage is a risk of trading in any financial market and occurs and with any broker. Also, there are times in the market when the risk of slippage is greater, such as during news events. Another thing to keep in mind is that with FXCM, slippage can be positive or negative. Positive slippage is when your order is filled with a price improvement. The stats below show that FXCM clients get price improvements on their orders just as frequently as negative slippage.

http://img823.imageshack.us/img823/1...ovementspo.png


On FXCM's No Dealing Desk forex execution we offset client orders one for one with our liquidity providers, so that a profit for you doesn't mean a loss for us, and a loss for you doesn't mean a profit for us. We stream prices from 10+ liquidity providers and fill your orders at the best bid/ask price available at any given time. We make our money by applying a fixed pip markup, so we make our money off of the trading volume and make the same amount regardless of the price at which you are filled. Our goal is to provide you the best trade execution possible so you will continue to provide us with trading volume. We even provide tips on our website tp help our clients maximize price improvements and minimize negative slippage.

How To Maximize Positive Slippage - USE LIMIT AND LIMIT ENTRY ORDERS

Note that positive slippage is more likely to occur with limit orders, and negative slippage is more likely to occur with limit orders.
FXCM recommends opening and closing trades using limit and limit entry orders in most cases. The benefit to these order types is that you are guaranteed to receive your requested price or better without receiving negative slippage. Remember, that although limit orders guarantee price they do not guarantee execution making order types an important consideration in any trading decision.

How to Minimize Negative Slippage - USE MARKET RANGE ORDER TYPES

For example, when trading with market orders, FXCM recommends setting the order type to "market range" on our Trading Station platform to avoid potentially receiving negative slippage. A market range order type allows you to control the amount of slippage your order can receive when it executes allowing for price certainty (see image below).

http://www.fxcm.com/assets/img/pages...rket-order.jpg


A market range of "X" pips assures that all or part of your order will be filled within a "X" pip range of the current market price ("X" pips above or "X" pips below) if liquidity is available.

Jason
  • #3,763
  • Jun 14, 2013 11:11am Jun 14, 2013 11:11am
hi Jason

What is maximum leverage at FXCM ? , my leverage now at FXCM is 1:200, I wish 1:400 or more
  • #3,764
  • Jun 14, 2013 4:16pm Jun 14, 2013 4:16pm
Quoting Sunlight31
hi Jason What is maximum leverage at FXCM ? , my leverage now at FXCM is 1:200, I wish 1:400 or more
Hi Sunlight,

The maximum leverage can vary by FXCM entity.

400:1 leverage is available through FXCM Markets. Please keep in mind that leverage acts as a double edge sword, magnifying both profit and loss.

Jason
  • #3,765
  • Jun 18, 2013 10:05am Jun 18, 2013 10:05am
FXCM Rep,

Please help me understand why your standard spread for EUR/USD is almost a pip wider than the other brokers? Thanks.
  • #3,766
  • Jun 18, 2013 1:15pm Jun 18, 2013 1:15pm
again problems with mt4. what the hell is it???
trading is not an addiction. it's a profession.
  • #3,767
  • Jun 18, 2013 2:44pm Jun 18, 2013 2:44pm
Quoting haimber
im working with this broker (fxcm) for 10 mothes. very very very bad and manipulative broker i must say!! trying to go against you almost in every position. i dont know how they have regulation. i have had expereience with a few brokers in the last 9 years. fxcm is absoloutly the worst! dont resfect stops dont let you close position on reasonable time dont let you open position huge slippage its a market maker that go against the trader in every step! if you care about your money, stay away from them.
haimber,

absolutely agree with you, I had the same adventurous experiences with them.

I think it makes no sense to discuss things like that with them.

They have their puppets on strings here in the forum, always repeat the same explanations, the same issues and their exclusive NDD nonsense with little spread markups and no requotes, bla bla bla.They always want to help you and want you to be successful.

The reality looks more than different.

Never again FXCM.

Nothing more to say about this bröööööker.

Hope you haven`t lost too much money haimber.
It ain`t no big thing, but it`s growing.
  • #3,768
  • Jun 18, 2013 2:49pm Jun 18, 2013 2:49pm
Quoting Smokeymar
FXCM Rep, Please help me understand why your standard spread for EUR/USD is almost a pip wider than the other brokers? Thanks.
  • #3,769
  • Jun 18, 2013 3:22pm Jun 18, 2013 3:22pm
Quoting mctrade
{quote} haimber, absolutely agree with you, I had the same adventurous experiences with them. I think it makes no sense to discuss things like that with them. They have their puppets on strings here in the forum, always repeat the same explanations, the same issues and their exclusive NDD nonsense with little spread markups and no requotes, bla bla bla.They always want to help you and want you to be successful. The reality looks more than different. Never again FXCM. Nothing more to say about this bröööööker. Hope you haven`t lost too much money...
agree with every word.

thank you.
trading is not an addiction. it's a profession.
  • #3,770
  • Jun 18, 2013 3:53pm Jun 18, 2013 3:53pm
JASON.

your mt4 down again?
Wooooohooooo or Boooooohooooo
  • #3,771
  • Jun 18, 2013 4:18pm Jun 18, 2013 4:18pm
My mt4 can't connect. I use mobile version. Jason, Please fix this problem ASAP.
Forex is a - High Profit, Controllable Risk - Business
  • #3,772
  • Jun 18, 2013 4:24pm Jun 18, 2013 4:24pm
Quoting gnomoneey
JASON. your mt4 down again?

Quoting Family Man
My mt4 can't connect. I use mobile version. Jason, Please fix this problem ASAP.
Hi guys,

I've just gotten confirmation that we've had issues with some clients not being able to log in. You can call us toll-free to speak with our live customer support team. They can note if you wanted to place a specific order but couldn't do so because of this tech issue. If any of your trades were negative impacted, you can log a case with the Trade Audit Committee using one of the online forms below.

  1. FXCM LLC (US) Trade Audit Form
  2. FXCM LTD (UK) Trade Audit Form


Jason

  • #3,773
  • Jun 18, 2013 4:47pm Jun 18, 2013 4:47pm
Quoting Smokeymar
FXCM Rep, Please help me understand why your standard spread for EUR/USD is almost a pip wider than the other brokers? Thanks.
Hi Smokeymar,

Actually, we offer our clients the choice of two types of forex execution as standard: No Dealing Desk (NDD) and Dealing Desk. It's important when comparing spreads between brokers to keep in mind what execution model is being used and whether there are any commissions. For example, FXCM charges no commission on top of our standard spreads, and as you can see from the table below, our Dealing Desk spreads compare favorably with other brokers on the same execution model.

http://img23.imageshack.us/img23/7416/ybk.png


In the NDD model, FXCM acts as a price aggregator. We take the best available bid and best ask prices from our liquidity providers, add a mark-up, and stream those prices to the platforms we provide. That's the price you see. FXCM's liquidity providers include global banks, financial institutions, and other market makers. This large, diverse group of liquidity providers is one of the things that make this model special.

Spreads are important, but they are just one factor out of many to consider when choosing a broker along with 24 hour customer support, trading platforms offered, education, resources, etc. We seek to provide competitive spreads while also delivering great execution and a safe place for you to hold your funds.

It's no secret that the brokerage industry, for both forex and futures trading, has been in the midst of a price war for the past couple of years. That combined with lower trading volumes last year have caused many brokers to struggle. There was even a broker in Europe that went bankrupt after trying to entice clients with 0 pip spreads. Last year also saw the failure of a US broker that had previously touted their razor thin spreads. We've had other brokers have to pull out of the US after being unable to meet regulatory capital requirements.

If recent events have taught us anything, it's that the financial stability of the broker you choose can have far greater implications than we previously thought. Unfortunately, the vast majority of these brokers are privately held companies, so it's hard to know the state of their finances. Are they profitable, or are they barely staying afloat? How can you know whether they are safe place to keep your money?

FXCM is a publicly-traded company (NYSE ticker: FXCM), so information regarding our financial data is readily available. This is one of the reasons why traders have entrusted us with $1.190 billion in client funds (as of our latest publicly available data).

Jason
  • #3,774
  • Jun 18, 2013 4:59pm Jun 18, 2013 4:59pm
Quoting Jason Rogers
{quote} {quote} Hi guys, I've just gotten confirmation that we've had issues with some clients not being able to log in. You can call us toll-free to speak with our live customer support team. They can note if you wanted to place a specific order but couldn't do so because of this tech issue. If any of your trades were negative impacted, you can log a case with the Trade Audit Committee using one of the online forms below. FXCM LLC (US) Trade Audit Form [url=http://bit.ly/196cpbS]FXCM...
My mt4 can connect now. Thank you Jason
Forex is a - High Profit, Controllable Risk - Business
  • #3,775
  • Jun 18, 2013 5:03pm Jun 18, 2013 5:03pm
Quoting Family Man
{quote} My mt4 can connect now. Thank you Jason
Thanks for the update, FM

However, I've been told by our tech support team that these connection issues have been intermittent. Should the problem occur again, please follow the suggestions in my previous post: http://www.forexfactory.com/showthre...11#post6761611
  • #3,776
  • Jun 18, 2013 5:17pm Jun 18, 2013 5:17pm
Quoting Jason Rogers
{quote} Thanks for the update, FM However, I've been told by our tech support team that these connection issues have been intermittent. Should the problem occur again, please follow the suggestions in my previous post: http://www.forexfactory.com/showthre...11#post6761611
still down sir!!!
can you tell me if this occurring problem is software, hardware or connectivity issue?
it'll be nice to get what the problem is....
Wooooohooooo or Boooooohooooo
  • #3,777
  • Edited 8:17pm Jun 18, 2013 5:42pm | Edited 8:17pm
Quoting Jason Rogers
{quote} Hi Smokeymar, Actually, we offer our clients the choice of two types of forex execution as standard: No Dealing Desk (NDD) and Dealing Desk.
Thanks Jason. One more question. I'm using the demo and it looks like FXCM really only offers 45:1 leverage on EUR/USD. Can you explain why? I need 3k balance per 100k lot, but 50:1 is actually 2,680 account balance per 100k lot. FXCM really shouldn't advertise 50:1 when you really only offer 45:1. It's problem.
  • #3,778
  • Jun 18, 2013 9:13pm Jun 18, 2013 9:13pm
Quoting Jason Rogers
{quote} {quote} Hi guys, I've just gotten confirmation that we've had issues with some clients not being able to log in. You can call us toll-free to speak with our live customer support team. They can note if you wanted to place a specific order but couldn't do so because of this tech issue. If any of your trades were negative impacted, you can log a case with the Trade Audit Committee using one of the online forms below. FXCM LLC (US) Trade Audit Form [url=http://bit.ly/196cpbS]FXCM...
Jason ,

cant login to trading station now on real account
same with iphone app
reached max 160 clients
help
Wooooohooooo or Boooooohooooo
  • #3,779
  • Jun 19, 2013 2:44am Jun 19, 2013 2:44am
Hello Jason

How much longer will the server be down? I still cannot log into the trade station & myfxcm website.

Thanks
Thank You
  • #3,780
  • Jun 19, 2013 2:55am Jun 19, 2013 2:55am
Me too. I can't login into trading station. It was fine an hour ago.
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