FXCM Discussion | Page 222 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/JPY

Similar Threads

FXCM with Sierra Charts - Discussion and alternatives 8 replies

Elliott Waves discussion 4 replies

FXCM gets another CFTC fine, while Drew Niv leaves FXCM UK board 17 replies

Euro/Dollar discussion 9 replies

Forward Testing Discussion Thread 241 replies

Attachments: FXCM Discussion
Exit Attachments

FXCM Discussion

  • #4,421
  • Mar 11, 2014 7:16pm Mar 11, 2014 7:16pm
Quoting Naddmer
Hi Jason, about the upcoming lotsize reduction in the CFD section next week I think I found something strange on the MT4 side of FXCM. When I calculate a lotsize for a given Risk of 200 Points and 100€ Riskvolume in EURUSD I calculated it using the formula in the little snippet below(*) In EURUSD the real result is: 100€/7.24€/P/lot/200P = 0.698 lots ~ 0.7 lots. The formula below reflects this result as well as the screenshot of a appropriate order in the demo account. In SPX500 the real result is: 100€/0.0724/200=6.9 Lots ~ 7 Lots. The same formula...
Hi Naddmer,

I asked one of our techs to review your post. He said your math looks to be correct, so most likely the error is somewhere in your code. However, he did not understand what you meant when you said "Seems like there is already (€ == US$) in the parameter set of the SPX500 and XAUUSD."
  • #4,422
  • Mar 11, 2014 7:23pm Mar 11, 2014 7:23pm
Quoting Naddmer
Hi Jason, {quote} Here's the current margin requirement from a Live account: 1 old lot SPX500 requires 80€ margin. {image} And here's the margin requirement from a current demo account: 10 new lots (== 1 old lot) of SPX500 require 120€ margin all of a sudden. {image} An odd thing is: The GER30 margin requirement was kept the same. Other margin requirement differences are: XAUUSD (3€ to 4€) XAGUSD (5€ to 7.50€) BUND (30€ to 45€) Hopefully not too many German traders will get a margin call on Monday because of the 50% margin requirement increase in...
Hi Naddmer,

There's no error with the CFD margins. The reason for the differences you see is that your demo account is denominated in USD, while your live account is denominated in EUR. The values correspond to the table of CFD margins for different currencies. You can register for an EUR demo account if your prefer. Be sure to select EUR as the currency at the bottom of the demo registration form.
  • #4,423
  • Mar 11, 2014 7:35pm Mar 11, 2014 7:35pm
Quoting Naddmer
XAUUSD on FXCM 2nite again...
Hi Naddmer,

I've heard back from both our technical support team and the Trade Services Team and can confirm that no live trades were executed on the gold prices you saw during the daily 1-hour break in trading on February 24th. These are similar to the indicative rates you can sometimes see in currency pairs over the weekend when forex trading is closed.

Liquidity providers sometimes continue quoting indicative rates outside market hours, but since trading is closed these prices won't trigger any orders. Furthermore, since most liquidity providers don't quote prices outside market hours, the few that do can make the chart look like the price has spiked, even though no live orders executed at those prices.

I've passed your feedback onto our software developers to see whether indicative prices that appear when trading is closed can be filtered out from the chart.

Thanks,
Jason
  • #4,424
  • Edited 4:57am Mar 12, 2014 2:11am | Edited 4:57am
Quoting Jason Rogers
{quote} Hi Naddmer, There's no error with the CFD margins. The reason for the differences you see is that your demo account is denominated in USD, while your live account is denominated in EUR. The values correspond to the table of CFD margins for different currencies. You can register for an EUR demo account if your prefer. Be sure to select EUR as the currency at the bottom of the demo registration form.
Hi Jason,


thanks very much for the investigation.

Now this hint that the account might be denominated in USD leads us to the solution of both of the problems in the demo account.

Just confirmed the assumption by opening a 10 Lot short on XAUUSD in Demo.

In fact the TS-2 margin calculation is based on USD (€ == USD)
Attached Image (click to enlarge)
Click to Enlarge Name: Auswahl_160.png Size: 10 KB


while the MT4 margin calculation is based on EUR.

Attached Image (click to enlarge)
Click to Enlarge Name: Auswahl_159.png Size: 7 KB



The margin requirement on TS2 is 40USD while the same position is denoted with 30€ on MT4. Note that this is the same account, please.

Now for the risk calculation: The EURUSD risk calculation on the MT4 side was right. So there's nothing to do. The SP500/XAU etc. margin calculation was off by about 33% - which means that the CFD parameters must have been denominated in USD instead of EUR on the demo side. Will check my Live account right after this posting here whether there are such differences too.

Best regards


Naddmer
  • #4,425
  • Mar 12, 2014 2:59am Mar 12, 2014 2:59am
Hi Jason
Can you tell me where I can find out how FXCM calculate rollover on Indices please? The website shows how to with pairs but I need to understand how my UK100 rollover figures are arrived at.
Thanks
Full-time trader and loving it!
  • #4,426
  • Mar 12, 2014 8:22am Mar 12, 2014 8:22am
Quoting Jason Rogers
{quote} Hi AG, thanks for bringing this to my attention. I'm following up with the programmers who manage the FxCodeBase site and will let you know what they say. In the meantime, you can also find free EAs, indicators and scripts at FXCMapps.com
Hi Jason, Any word yet? The above Apps page is pretty well useless. Thanks AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #4,427
  • Mar 12, 2014 10:03am Mar 12, 2014 10:03am
Quoting Digitalis
Hi Jason Can you tell me where I can find out how FXCM calculate rollover on Indices please? The website shows how to with pairs but I need to understand how my UK100 rollover figures are arrived at. Thanks
Hi Digitalis, cost of carry and dividends make up the overnight credits/debits. Details of how these are calculated can be found in on page 5 or our CFD Product Guide.
  • #4,428
  • Mar 12, 2014 10:14am Mar 12, 2014 10:14am
Quoting AlbinaGrande
{quote} Hi Jason, Any word yet?
No word yet, unfortunately. FXCodeBase is an independent community of programmers. I tried emailing a couple of them to find out why their site is down but haven't heard back yet. I'll let you know as soon as I do.
  • #4,429
  • Mar 12, 2014 11:06am Mar 12, 2014 11:06am
How about the refund for the rollover fees on US30??? Nothing yet so far ! Seems all very unprofessional. Just wondering why my saxo bank account never encounters all this "scams AKA mistakes" ?
Enter Signature
  • #4,430
  • Mar 12, 2014 11:06am Mar 12, 2014 11:06am
suppose it has to do with being a pro broker or a scam broker ? This is way out of line Jason !
Enter Signature
  • #4,431
  • Mar 12, 2014 11:46am Mar 12, 2014 11:46am
Quoting johninthai
How about the refund for the rollover fees on US30??? Nothing yet so far ! Seems all very unprofessional. Just wondering why my saxo bank account never encounters all this "scams AKA mistakes" ?
Quoting johninthai
suppose it has to do with being a pro broker or a scam broker ? This is way out of line Jason !
Hi John, I've always been happy to help in answering any questions you have, and I take exception to these accusations by you. Clearly there was an error on our part where US30 positions had rollover interest applied of $3.02 per micro lot, instead of 30.2 cents for which we apologize. We recently reduced the minimum trade size on our CFD products from mini lots down to micro lots, and the change resulted in us making this error in how rollover was applied for one day on one product. We're in the process of making adjustments to all US30 trades that were affected.
  • #4,432
  • Mar 12, 2014 12:54pm Mar 12, 2014 12:54pm
Quoting Jason Rogers
{quote} Hi Digitalis, cost of carry and dividends make up the overnight credits/debits. Details of how these are calculated can be found in on page 5 or our CFD Product Guide.
Thanks for the response Jason. I've checked it out. Oh boy! So can you define "haircut" for me please and tell me where I can find what the current FXCM haircut rate is, how often it changes etc?

Also the example is clearly old I think - showing LIBOR at 3% when it appears (not sure where FXCM source the rate from) to be around 0.24 this week?
So 0.24 - 3% = -2.76. Hmmm how would that work?

Seriously - my problem is that I am being charged figures that I cannot audit, either through my own lack of knowledge or through lack of information. Not a professional way to work in my book so I need to fix that somehow.

Can you assist at all - maybe there's someone I can talk to in FXCM who could work a live example with me. Once understood, I'd be happy to write it up, I know there are others who would appreciate that...
Full-time trader and loving it!
  • #4,433
  • Edited 2:22pm Mar 12, 2014 1:29pm | Edited 2:22pm
Quoting Digitalis
So can you define "haircut" for me please and tell me where I can find what the current FXCM haircut rate is, how often it changes etc? Also the example is clearly old I think - showing LIBOR at 3% when it appears (not sure where FXCM source the rate from) to be around 0.24 this week? So 0.24 - 3% = -2.76. Hmmm how would that work? Seriously - my problem is that I am being charged figures that I cannot audit, either through my own lack of knowledge or through lack of information. Not a professional way to work in my book so I need to...
Hi Digitalis,

You can think of a haircut as the spread between the interest you earn on a short CFD position and the interest you pay on a long CFD position. For example, banks charge higher interest on loans than they pay to depositors. FXCM's haircut is always 3%. What can change is the 3 month LIBOR for the contract currency (EUR for GER30, GBP for UK100, USD for US30). These rates are determined by banks and can be found on sites like this one:
http://www.global-rates.com/interest...bor/libor.aspx

If the current 3 month USD LIBOR is 0.24% and FXCM is applying a haircut of +3/-3%, a long position would pay 3.24% per year in finance charges, while a a short position would receive 0%. The reason a short position would receive zero is because 0.24% - 3% is a negative number, and you can't pay finance charges on a short position on stock index CFDs*, even if LIBOR is less than 3%. The daily finance charges are determined by taking the annual rates of 3.24% and 0% then dividing them by 360.

* You can still pay rollover on a short index CFD position if dividends are being paid out that day. In that case, a long position in the index CFD would earn the dividends.
  • #4,434
  • Mar 12, 2014 2:27pm Mar 12, 2014 2:27pm
Quoting Naddmer
The SP500/XAU etc. margin calculation was off by about 33% - which means that the CFD parameters must have been denominated in USD instead of EUR on the demo side. Will check my Live account right after this posting here whether there are such differences too. Best regards Naddmer
You're right. That EUR demo server was showing the USD margin instead of the EUR margin. That's being updated now. I had our techs check the live servers just in case, and they are already displaying the correct EUR margin requirement. Thanks for pointing this out
  • #4,435
  • Mar 12, 2014 11:25pm Mar 12, 2014 11:25pm
No worries Jason, got a bit upset . Got an email apparently they'll refund in 2 to 3 days.
Enter Signature
  • #4,436
  • Mar 13, 2014 11:24am Mar 13, 2014 11:24am
Quoting johninthai
Got an email apparently they'll refund in 2 to 3 days.
Thanks for the update
  • #4,437
  • Mar 13, 2014 8:33pm Mar 13, 2014 8:33pm
Attention Traders in Perth, Australia

FXCM will be holding a free CFD & FX Boot Camp at the The Pan Pacific Perth Hotel on Monday, 24 March from 5:30 to 9 PM.

We will take a look at the recent movement of Gold and the Aussie Dollar and show you how you can continue to take advantage of the opportunities created by all the action. Here's a video from last year's boot camp:

Inserted Video


Registration is free but space is limited so reserve your seat today!

  • #4,438
  • Mar 14, 2014 10:18pm Mar 14, 2014 10:18pm
Quoting Jason Rogers
Attention Traders in Perth, Australia FXCM will be holding a free CFD & FX Boot Camp at the The Pan Pacific Perth Hotel on Monday, 24 March from 5:30 to 9 PM. We will take a look at the recent movement of Gold and the Aussie Dollar and show you how you can continue to take advantage of the opportunities created by all the action. Here's a video from last year's boot camp: http://www.youtube.com/watch?v=uH5yvMcNSus Registration is free but space is limited so reserve your seat today!
I am in Melbourne and won't be able to attend this one. Any chance of recording this webinar and do FXCM planning to organize one in Melbourne any time soon.

Regards
  • #4,439
  • Mar 16, 2014 4:33pm Mar 16, 2014 4:33pm
Any word on FXCodebase? I am trying to gain access to the C++ API for linux
  • #4,440
  • Mar 16, 2014 11:15pm Mar 16, 2014 11:15pm
Hi mfoste1,

Quoting mfoste1
Any word on FXCodebase? I am trying to gain access to the C++ API for linux
If I understand you correctly and if you want to download ForexConnect API, please choose the appropriate version here
8 traders viewing now