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  • #4,621
  • Edited 1:46am Apr 14, 2014 12:37am | Edited 1:46am
Quoting plotinus82
{quote} Nah, higher spreads for a higher volume. That picture is their eFX platform. Quoting 50 million because anything below 50 is executed by ALGO hence no manual.
And if this quote is not guaranteed, does that mean when you actually place the trade, they might give you a new quote? Isn't that requoting? And if the re-quotes happens to be worse than this not-guaranteed quotes, isn't that the same as slippages?
Make your losses in demo. Earn your profits live.
  • #4,622
  • Apr 14, 2014 8:08am Apr 14, 2014 8:08am
Quoting Forexia
{quote} And if this quote is not guaranteed, does that mean when you actually place the trade, they might give you a new quote? Isn't that requoting? And if the re-quotes happens to be worse than this not-guaranteed quotes, isn't that the same as slippages?
No because slippage = you are executed in the trade and you are in a higher L in your P&L due to slippage which there is a possibility since you're hedged by a bank via spot that you might not even crawl back the difference in the spread + slippage if you're actually wrong in the trade.

Low spreads should allow people to run for cover without issues.
  • #4,623
  • Apr 14, 2014 11:33am Apr 14, 2014 11:33am
Quoting Digitalis
{quote} Thanks Jason. I did speak on live chat this morning but ended up with some set responses from the Techs, i.e. it's an internet issue. You're right I think, it is re confirmation rather than filling the order as all orders have been filled at the right price. It's just causing me some minor problems as I scalp and need to place several trades very quickly. Could be a problem my end, I'm checking that out, although a couple of times now when I've initially logged in I've had an error saying "Cannot connect to price server" and also had a couple...
Hi Digitalis,

Thanks for your reply. I'm glad to hear that all your orders have been filled at the right price. That would seem to indicate that the delay is not in the order execution itself, but rather it's with the confirmation appearing on your platform. You mentioned that this delay started occurring only recently. Can you think of any changes you've made recently?

For example, are you (or anyone else using your internet connection) running any other programs that could be using your internet bandwidth? Or are you running any other programs on your computer which could be using CPU resources? Either of these changes might explain why there is no delay in the execution of your orders, but there is a delay in the order confirmations being reflected on your platform.
  • #4,624
  • Edited 12:34pm Apr 14, 2014 12:10pm | Edited 12:34pm
Quoting fx-trader777
Hi Jason I earned $13 rollover on short 50 000 USDRUB, while I paid $46 rollover on long 50 000 USDRUB, why such big difference? P.S. It's about same day rollover
Hi FX-Trader777,

The difference for USD/RUB between the rollover interest you earn on a short position and the rollover interest you pay on a long position is in line with the rollover difference for many other non-major currency pairs as you can see from the table below. The values in the "Roll S" and "Roll B" columns below are the amount in US dollars that can be earned or paid on a 10k position that's open at 5pm New York time today.

http://i.imgur.com/61pPBBO.png

click image to enlarge


Note how the major currency pairs towards the top of the table have about a 2:1 difference between the amount of rollover you pay on one side versus the amount you earn on the other side. Contrast that with the more exotic currency pairs towards the bottom of the table which have about a 4:1 difference.

This information can been in seen in real time on your Trading Station platform in the Dealing Rates window under the "Roll S" and "Roll B" columns.
  • #4,625
  • Apr 14, 2014 1:09pm Apr 14, 2014 1:09pm
Quoting Forexia
{quote} And if this quote is not guaranteed, does that mean when you actually place the trade, they might give you a new quote? Isn't that requoting? And if the re-quotes happens to be worse than this not-guaranteed quotes, isn't that the same as slippages?
lol mate I have had enough with these monkeys in all seriousness.

So I asked compliance why the hell is the reply full of inaccurate facts. Basically replied, we don't know and we can't handle it because it's with our legal department.

But legal department is just solicitors working for compliance.

It's like footballers kicking a ball around, that's all.

It's pathetic.
  • #4,626
  • Apr 14, 2014 1:16pm Apr 14, 2014 1:16pm
Quoting plotinus82
{quote} No because slippage = you are executed in the trade and you are in a higher L in your P&L due to slippage which there is a possibility since you're hedged by a bank via spot that you might not even crawl back the difference in the spread + slippage if you're actually wrong in the trade. Low spreads should allow people to run for cover without issues.
Yes but the fact that these quotes from Goldman Sach's is not guaranteed so by the time when you actually place the trade you might get a new quote, isn't that allowing them "last look" and then requoting? I don't know when we are trading in retail, we strive to trade on firm quotes where what we see is what we get and there is no "last look" by the banks or LP. I guess it's different when you are trading in too large of size that everything is manual?
Make your losses in demo. Earn your profits live.
  • #4,627
  • Apr 14, 2014 1:17pm Apr 14, 2014 1:17pm
Quoting Forexia
{quote} Yes but the fact that these quotes from Goldman Sach's is not guaranteed so by the time when you actually place the trade you might get a new quote, isn't that allowing them "last look" and then requoting? I don't know when we are trading in retail, we strive to trade on firm quotes where what we see and what we get and there is no "last look" by the banks or LP. I guess it's different when you are trading in too large of size that everything is manual?
It'll be a VWAP on the platform so they will execute within the spread. Eg if I put in 100 Euros it'll be offered and 22 26, then they will execute it at 26, or 22. They won't run away like FXCM.
  • #4,628
  • Apr 14, 2014 1:18pm Apr 14, 2014 1:18pm
Quoting plotinus82
{quote} lol mate I have had enough with these monkeys in all seriousness. So I asked compliance why the hell is the reply full of inaccurate facts. Basically replied, we don't know and we can't handle it because it's with our legal department. But legal department is just solicitors working for compliance. It's like footballers kicking a ball around, that's all. It's pathetic.
monkeys? LOL Well that's why you are with EBS.
Make your losses in demo. Earn your profits live.
  • #4,629
  • Apr 14, 2014 2:09pm Apr 14, 2014 2:09pm
Quoting Forexia
{quote} monkeys? LOL Well that's why you are with EBS.
Just basically people tell you 1 2 3 when the reality is at 98 99 100 lol
  • #4,630
  • Apr 14, 2014 2:36pm Apr 14, 2014 2:36pm
Quoting Forexia
{quote} monkeys? LOL Well that's why you are with EBS.
Also the lawyer who replies decides to go on a holiday right after he replies and would not entertain any comments, protests at the time being.

He's gone for 2 weeks.

So tell me is it ok to send a reply to a complaint and basically run off to a holiday.

This is FXCM's management.
  • #4,631
  • Edited 4:10pm Apr 14, 2014 3:32pm | Edited 4:10pm
Quoting Forexia
{quote} Sorry to bombard you with all the questions. Is this pair available for the NDD account as well or is it available just for the DD account? And what would be the roll-over interest on this pair, if any? Thanks.
Hi Forexia,

Trading in the offshore Chinese Yuan (USD/CNH) is available on both account types with FXCM. The rollover interest, which you can see in my previous post, is +0.14 for short positions (Roll S) and -0.50 for long positions (Roll B). That means you can earn 14 cents in rollover interest on a 10k short position that's open at 5pm New York time today, or pay 50 cents on a 10k long position.
  • #4,632
  • Edited 4:04pm Apr 14, 2014 3:51pm | Edited 4:04pm
Quoting plotinus82
{quote} Also the lawyer who replies decides to go on a holiday right after he replies and would not entertain any comments, protests at the time being. He's gone for 2 weeks. So tell me is it ok to send a reply to a complaint and basically run off to a holiday. This is FXCM's management.
Are you still with FXCM? If you are no longer with FXCM and is not one of their clients anymore, they probably feel they don't need to talk to you, maybe that's why. Just thinking.
Make your losses in demo. Earn your profits live.
  • #4,633
  • Apr 14, 2014 3:52pm Apr 14, 2014 3:52pm
Quoting Jason Rogers
{quote} Hi Forexia, Trading in the offshore Chinese Yuan (USD/CNH) is available on both account types with FXCM. The rollover interest, which you can see in my previous post, is +0.14 for short positions (Roll S) and -0.50 for long positions (Roll B). That means you can earn 14 cents in rollover interest on 10k short position that's open at 5pm New York time today, or pay 50 cents on 10k long position.
Ok thanks for the info. You have been really helpful, Jason.
Make your losses in demo. Earn your profits live.
  • #4,634
  • Apr 14, 2014 4:06pm Apr 14, 2014 4:06pm
Hello everybody,

New here, easy question Jason: SEPA transfers (both banks inside the UE) are free of charge, so are there fees of any kind in a withdrawal by SEPA transfer in a EURO denominated account.
Thank you.
  • #4,635
  • Apr 14, 2014 5:04pm Apr 14, 2014 5:04pm
Quoting BogiFX
Pfffffff..What can i say i'm whatching this discussion about FXCM because i'm thinking go live with this broker and it also has good platforms for tradeing,butwith all this info here about slippage and hitting the stop with spikes and fake prices pushes it stops me a lot.After reading here some pages i asked myself who should i bbileve?Well all those people here that talking about this issue and other problems they cant lie.Does it realy worth go live with FXCM or will be just ripped off ?lol.I know that Saxo Bank kits stop i was face to face last...
Hi BogiFX,

I'm glad to hear that you're a fan of FXCM's trading platforms and that you're considering us as your broker. It's good that as part of your due diligence, you're reading through the discussions on this forum. That means in addition to reading concerns raised by some traders, you can also read praise from other traders who are happy with our service, along with my own responses to address concerns that are raised.

For example, you said that you're concerned about slippage. While slippage is a risk of trading in any market, FXCM provides tools on our platforms that allow our clients to minimize negative slippage and maximize positive slippage.

Also, you mentioned being concerned about price spikes. It's worth noting the valid reasons why a price spike can occur. For example, spikes can occur when there is a big gap in the market. Spikes can also occur around 5pm New York time due to trade rollover.

I hope the links I provided above have helped to address some of your concerns. Please let me know if you have other questions.

Something to keep in mind is that when a firm gets to be the size* of FXCM, there can be times when clients post their concerns on forums. What's important is that when this happens, we take their inquiries seriously and will follow up accordingly. However, it's also important to note that such posts represent a small percentage of the over 190,000 accounts that trade with FXCM worldwide and are happy with our service.

*Broker size can sometimes be hard to determine for forex traders, since the majority of retail brokers are privately held companies. However, we can gain some insight by looking at stats comparing the monthly trading volume of different firms worldwide. The numbers below are in billions of dollars.

http://i.imgur.com/bo7Nbgz.png


Please note that the stats above are from the Forex Magnates industry report for Q4 2011. I would post something more recent, but that's the last report made available to non-subscribers. I hope the authors won't mind me revealing that even their latest report for Q1 2014 confirms FXCM's lead over the other firms listed above in terms of monthly trading volume.
  • #4,636
  • Apr 14, 2014 5:31pm Apr 14, 2014 5:31pm
Thanks for the indirect reply, and the indirect exclusion of liability and responsibility.

Yes guys a market range function which is the same as MT4. A feature which makes 10 M + traders impossible to trade unless you set market range to 4 pips.

Also guys FXCM offers non existent VWAP and Level 5 pricing which they claim they do! It's amazing isn't it? You'd be thinking that every trade is VWAP on the platform but it isn't and it costs of $12,000 on a $20M position. Literally.

As I said this proves FXCM does not actually care whether an account deviates from their normal 'high class' services, and the small % of dissatisfaction out of the 190,000 accounts does not matter at all.

Yeah prices also spike on a 40 pips spread guys, as well as 10PM dips and spikes for no reasons too, no 10 PM is not a rollover effect. Rollover is not an excuse, so if rollover and fixes would actually cause pointless spikes then the Tokyo, London and NY fix would cause huge spikes too? And also the prices on FXCM spikes and dips in opposite direction in ask and bid. It says a lot.

Exactly 15.5 daily volume, so why would they actually suck this much.
  • #4,637
  • Apr 14, 2014 5:39pm Apr 14, 2014 5:39pm
Quoting Makavell
A friend of mine that trades a big account with fxcm told me of a terrible incident that made me believe that FXCM is still a crooked market maker. He opened 3 positions, two of the positions was 10 standard lots each and one 50lots position all had the same take profit limit set. When price got to the take profit level fxcm only closed the 10 lots positions but refused to close the 50lots position. If not for the fact that he was on his computer when it happened he would have made very huge losess, he had to close the 50lot position manually losing...
Hi Makavell,

Your friend's story is an example of how FXCM fills orders fairly, otherwise why would we fill 2 million units (20 standard lots) of his take profit (limit) orders instead of none at all? While it's impossible to know without investigating in further detail, the most likely reason the remainder of his limit orders could not be filled is that there was only sufficient liquidity to fill some but not all of the sell orders at that price level. If your friend still has concerns about this, I encourage him to file a trade inquiry.
  • #4,638
  • Edited 6:18pm Apr 14, 2014 6:08pm | Edited 6:18pm
Quoting AussieForexM
Hello FXCM Rep's... Just wondering what date / time your MT4 platform represents? I trade from Melbourne Australia and would like to know what the date / time in MT4 is showing to help with calculating daily pivot points... (NY, London, etc???) Thank you.
Hi AussieForexM,

Some of FXCM's MT4 servers are set to GMT+3, while others are set to GMT.

The MT4 servers set to GMT+3 have daily candles that begin and end in sync with the 5pm New York Close. That means there are 5 daily candles per week, each 24 hours in length. The MT4 servers set to GMT have daily candles that begin and end at midnight GMT which means there are 6 daily candles per week with the Sunday candle only representing a couple of hours worth of data.

Do you have a preference for one setting over the other? We're currently gathering feedback from MT4 users to decide whether we should switch all of our MT4 servers to GMT+3 to be in sync with the New York Close, or whether we should still keep some servers set to GMT.

It's worth noting that your FXCM MT4 account login will also work on our Trading Station platform. Regardless of time zone setting of your MT4 server, when you log into Trading Station, you will see New York Close charts. That's because the daily charts on Trading Station are not affected by the time zone setting of the server. That means you can display any time zone you wish to on the platform and the shape of the charts and indicators will be unaffected.
  • #4,639
  • Apr 14, 2014 6:09pm Apr 14, 2014 6:09pm
Quoting Jason Rogers
{quote} Hi BogiFX, I'm glad to hear that you're a fan of FXCM's trading platforms and that you're considering us as your broker. It's good that as part of your due diligence, you're reading through the discussions on this forum. That means in addition to reading concerns raised by some traders, you can also read praise from other traders who are happy with our service, along with my own responses to address concerns that are raised. For example, you said that you're concerned about slippage. While slippage is a risk of trading in any market, FXCM...
Thanks a lot for your reply Jason
  • #4,640
  • Apr 14, 2014 6:10pm Apr 14, 2014 6:10pm
lol fairly poor liquidity fills is fair fills at FXCM.

Can't fill 5 mil which is nothing in the FX markets. lol
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