FXCM Discussion

You answered all your questions from the weekend before I got a chance to respond

I'm sure others will appreciate the insights you've provided here, thanks!

The advice to turn off all EAs on live accounts has got some serious background.

Build 600 f...reaks up on the old .set files.

Each time a boolean is gotten from an old .set file it is displayed as "0" and "1" resp. instead of "false" and "true".

The first picture shows some boolean settings right after the .set file is loaded.


And the second picture shows the same settings, right after the dropdown is clicked.


The implication of this bug is currently unclear. For sure is, that all .set files have to get double checked and forward tested before using them on real money.

Take your time to do this.

While I'm writing this, rumour has it that there is already a Build 604+ around.
Does anybody know whether this .set issue is fixed there and when FXCM deploys it?

If I was at FXCM I'd strongly encourage the stop of the deployment of Build 600 on live accounts and waited until the dust is settled a bit. The regulators in Germany are not so amused about such a violation of best IT practises in financial institutions.

Regarding Tradency Mirror Trader
Hi Ritzmeister …. I just spent the last two hours dictating an extensive account of my experience with Tradency Mirror Trader to my new Dragon NaturallySpeaking Voice to Text program only to lose it all in the end. Here is the short version and to get right to the point.
The message I wanted to convey is that I have started to trade mirror trader live on January 14, 2014 after having carefully selected and analyzed five strategies and pretesting them, according to the data that was provided by mirror trader.
I have since found that the historical information provided and the information under the Current Open Positions Tab and the Trade History Tab have no relationship to reality. This obviously skews every other Statistic as shown. In other words, there is really no way to be sure that the information provided is accurate and reflects to performance of the strategy.
I have screenshots that show me in open on positions that are not showing as open in the strategies current open positions panel, and positions that are shown as open are not showing up on my live terminal.
I have contacted FX CM and was told that they are aware of the situation and that the platform provider is working on the problem. I was told to trade and to use my own judgment.
I was also told to fill out a complaint/Error Report and submit it on the appropriate form, which I did. It has now been more than a week and I have not heard anything from anyone.

I hope to get a handle on this text-to-speech program as I am anticipating doing a lot of writing.
In the meanwhile, if you want to talk to me or contact me, please let me know.


FX archer

Introducing Micro Lots on Index and Commodity CFDs

Attention CFD Traders

FXCM is making exciting new updates to our CFD offering.

Most CFD instruments on FXCM accounts will be enabled to trade in smaller sizes (micro lots) after February 28. Now you will be able to trade indices and commodities in 1/10th the size as was previously used. This means you can trade these instruments in smaller amounts, freeing up your available margin and allowing you greater flexibility in your trading.

Watch Video on PowerPoint

General FAQs

1. How will CFD lot sizes change?

You will now be able to trade indices and commodities in 1/10th the size as was previously used. For example:

If you open a US30 position today:

Currently, the minimum trade size is “1” which equates to a $1 profit/loss for each price tick. On a USD denominated account, FXCM requires a $90 margin deposit for each 1 lot traded. Margin rates will vary for accounts denominated in other currencies.

If you open a US30 position after February 28:

The minimum trade size will remain “1”, however because the pip cost is being reduced by 1/10th, the profit/loss for each price tick will be 10 cents USD. The required margin will subsequently be $9 USD.

http://www.dailyfx.com/forex_forum/a...-img-1-eng.jpg

2. How will open positions and orders be affected?

Historical and open positions/orders will also be reduced by 1/10th. The lot size of these positions will be multiplied by 10 so that the profit/loss & rollover posted to your account remains the same. For example:

2 lots of NAS100 are opened on 1 January, which has a 100 point profit equating to a profit of $200 USD. Margin requirements are set at $25 per lot ($50 for 2 lots). How will existing positions appear after February 28?

http://www.dailyfx.com/forex_forum/a...-img-2-eng.jpg

Essentially, your position will remain exactly the same, only it will now appear as a 20 lot position as opposed to a 2 lot position.

NOTE: Positions and orders include: open positions, pending/resting orders, closed trades, deleted/cancelled/rejected historical orders, & execution orders that resulted in closed/open trades.

3. Why is FXCM changing the value of the lot size on its CFD instruments?

FXCM is making this change so that you can trade CFDs in smaller amounts. This will allow you to free up your available margin and allow you greater flexibility in your trading.

4. Which CFD instruments will be affected?

CFD Instruments that will have the value of a lot reduced by 1/10th:

http://www.dailyfx.com/forex_forum/a...-cfd-img-3.jpg

CFD instruments that will have the minimum trade size reduced:

The minimum trade size for most CFD instruments is 1. This will remain unchanged for all but two CFD instruments, the HKG33 and the JPN22. For these instruments, instead of reducing the value of each lot by 1/10th, the minimum trade size will simply be reduced by 1/10th. This will have the same effect as allowing you to trade in smaller sizes.

1. HKG33: The minimum trade size for the HKG33 is currently 10. This will be reduced to 1.

2. JPN225: The minimum trade size for the JPN225 is currently 100. This will be reduced to 10.

CFD instruments not affected:

Spot metals are unaffected as they already have very small per pip values.

1. XAU/USD

2. XAG/USD

3. XPD/USD

4. XPT/USD

5. Will margin requirements change?

Yes. As the value of 1 lot will be reduced by 1/10th, the margin requirements for that position will also be reduced by 1/10th. Please register for a practice account to see updated margin requirements.

6. Will the “Max Quantity” for CFD positions be raised?

Yes. The maximum amount allowed in a single trade/ticket will be increased by a factor of 10 for affected CFD instruments.

MetaTrader 4 FAQs

1. How will my Expert Advisors (EA) be affected?

All Expert dvisors and manually created Orders and Pending Orders for affected CFD instruments will automatically update to the new volume size after February 28. Any new Order or Pending Order created after February 28 on an affected CFD instrument will be subject to the new volume size.

Expert Advisor users should update the Input values of their EAs to compensate for the new volume size. This is normally done by changing the Lot Size variable in the EAs Inputs menu (accessible with the F7 key). All Symbol/Instrument names will remain the same.

If your EA used a Lot Size of “1” prior to February 28, then you should change the Lot Size to “10” after February 28 to maintain the same trade size. As an example, an EA trading the UK100 prior to February 28 using a Lot Size of “5”, should be adjusted to a Lot Size of “50” after February 28, to maintain the same trade parameters.

2. How will my scripts be affected?

Like EAs, any script which relies on inputting an order size will need to be adjusted accordingly.

3. How will my Indicators be affected?

Indicators will not be affected.

Before and After Table

The table below reflects MMR (margin requirements) for a USD denominated account. For a comprehensive list of MMR, please in other account denominations please see the CFD Product Guide.

http://www.dailyfx.com/forex_forum/a...-img-4-eng.jpg

Please let me know if you have any further questions.

Hi Naddmer,

Thanks for sharing your experiences.

Just to clarify, FXCM is not forcing our clients to update to Build 600, however, we have no control over when MetaQuotes decides to make this update mandatory, since it's their technology. If you download a new copy of MT4 from our website, it will be Build 600 since MetaQuotes designed the update to the new build to run automatically during installation. I'm not familiar with the Build 604 you mentioned or what changes it might have, but if you hear anything additional about it, please let us know.

Thanks,
Jason

Hi Jason,


thank you very much for your clarification.

I already suspected that FXCM is not at fault as far as this violation of best IT practices by MetaQuotes is concerned.

Your announcement of a lotsize change with a three week advance combined with a possibility to test and fix issues in the demo account about since four weeks is a very well acknowledged IT practice.

I appreciate this approach of FXCM very much as much as I'm keen on the new granularity of positions in the CFD section.

If TS-II had a Java interface I'd be trading on TS-II already - at least since last Sunday as I do not trust MetaQuotes too much after this incident when they updated Demo and live accounts simultaneously after a 7 day advance announcement of the new version.

MetaQuote's violation of best IT practices combined with MetaQuote's arrogance and rudeness in their forum

http://forum.mql4.com/60694



makes me really looking for alternatives to Metatrader now and ditch any MQL-knowhow.

Thank you very much for your announcement and for your insights.

Naddmer

Jason, still no plans for FXCM to make FXCM yen index (djfxjpy) available for MT4 I assume? The only option I have seen so far are a few external data feeds like IQfeed and so on. They however do not work with MT4. Considering the success of FXCM dollar index, would it be reasonable to think that eventually the yen index might be made available on this platform? regards, Robert

On Monday 17 February, the US observes Presidents' Day. Below are the holiday trading hours (GMT) for energy, metal and index CFDs. Forex trading hours continue as normal.

http://imageshack.com/a/img839/1391/zync.png

Hi FX Archer,

I notice your forum profile mentions that you live in the US. It sounds like your account was affected by a tech issue that was recently brought to our attention involving Mirror Trader accounts in America. The problem has to do with FIFO regulations. The CFTC oversees forex trading in the US, and they require that all forex trades in America be closed in FIFO (first-in, first-out) order. FXCM's Trading Station platform is set up to properly execute orders on US accounts in compliance with FIFO regulations.

However, the Mirror Trader platform was getting confused when automating strategies on US accounts when multiple positions were opened in the same currency pair. While trades were closed in the correct FIFO order on Trading Station, the Mirror Trader platform was sometimes expecting them to close in a different order since that is allowed in all other countries except the US. When this happened, Mirror Trader would lose track of which trades were still open. This affected the correct execution of subsequent orders.

Our tech team has worked with Tradency, the developers of Mirror Trader, to come up with a solution so Mirror Trader is able to keep track of orders properly for US accounts which have to execute orders in compliance with FIFO regulations. I will post an update here to confirm for you after the solution has been implemented which will most likely be this weekend, since it requires some updates to be made on Mirror Trader.

I apologize that your account was affected by this tech issue, and you're right to file a trade inquiry​. The Trade Services Team will perform a thorough investigation and make the appropriate correction to your account for any error in trade execution.

Jason

Hi Naddmer,

We have a web version of Trading Station: https://tsweb.fxcorporate.com/

You can log into all three versions of Trading Station (web, desktop and mobile) using your MT4 username and password.

Jason

Hi Robert,

While DJFXJPY is not available for trading at this time, you may be interested in trading our JPY currency basket which is very similar: http://www.forexfactory.com/showthre...72#post6777972

In addition to the JPY currency basket, FXCM offers trading in currency baskets for USD, EUR, GBP and AUD.

Jason

Looks interesting Jason! They however are solely traded with the fxcm web platform right ? Correct me if i am wrong but i am looking for a yen index with mt4 charting options. ( need to add certain indicators )

Hi Jason,


sorry for being ambigous.

I said "Java Interface" and meant "Java programming interface" and you understood "Java User interface".

My fault by not stating exactly what I want.

But alas - there is already a Java API on FXCM. I must have overlooked it the whole years.


Just in case someone else on this thread is interested in.

http://www.dailyfx.com/forex_forum/j...updates-4.html


Thanks anyway

Naddmer

Hi Jason
is there any way to lock an open position in TS just to prevent any close by mistake?

Hi Uae,


Unfortunately, there is no way to prevent a close of position. I have discussed this feature with the developers and I believe it will not be implemented. Anyway, thank you for the question.

XAUUSD @ FXCM - strange gap?

Live


Demo


and some other XAUUSD source


and goldprice.org



What has happened?

Normally I'd arbitraged the c...orn out of FXCM - but alas - the market is closed....

Jason,
I traded the Australian news release at 730pm est. I made 2 trades, first was a loss as my sl was tagged. I re entered the trade and closed it for a profit. I took a screen capture, then noticed my trading information had changed a short time later. Any idea why?

So far my account info hasn't changed but ?????

First chart is a 1 min, second one is a 5 minute. Am I losing my mind.....lol Why would the pips be different by a timeframe.

Hy guys!
I trade with a small broker from my country, which doesn't use MT5, but i like to look at my candles on MT5 so i chose a broker from their list, choose a demo account, and look at the charts on MT%. The only problem is that i like to trade 4hr and 8hr candles that open at LONDON TIME, gmt 00. The only broker i found so far on MT5 that has candles that open at gmt00 is FXCM, BUT the problem is that I didn't find EURJPY or GBPJPY on their symbols list. And I would really like to trade those pairs. Do you guys know any broker that has candles that open at GMT00 and has at least EURJPY on their symbols list on MT5, or if I am doing anything wrong that i can't find EURJPY and GBPJPY on FXCM

My order filled at 23:16 2/17/2014 at 5.439. But price feed (bid price) higher than that (5.467). So, where my 28 pips go?
I'm sellingl this product

Hi Naddmer,

Sorry for not replying to you sooner. I was out of the office yesterday for the Presidents' Day holiday here in the US. I've followed up with our trading desk, and they confirmed that the strange gap you saw on gold (XAU/USD) was due to a bad tick (an erroneous price) that came through the feed during 1 hour daily break in gold trading. The Trade Services Team is currently working to make corrections to any trades that were adversely affected by this error.

If your own account was negatively impacted, you can complete a trade audit form to file a trade inquiry. That way a member of the Trade Services Team can follow up with you personally after the trades in your account have been reviewed as part of their investigation of this tech issue.

I apologize for any inconvenience this has caused you, and we will do our best to make it right.

Jason