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  • #5,041
  • Sep 24, 2014 6:41pm Sep 24, 2014 6:41pm
hi jason,

can you please explain what's a "round turn" commission in the new price/spread structure?
i'm a bit confused.
thanks!
  • #5,042
  • Sep 24, 2014 8:00pm Sep 24, 2014 8:00pm
Quoting Poolsuckswat
hi jason, can you please explain what's a "round turn" commission in the new price/spread structure? i'm a bit confused. thanks!
looks like to me when "round turn" refers to you paying commission when opening a trade and also commission when closing the trade. Similar to other financial products such as stocks.
Trade what you see, not what you think!
  • #5,043
  • Sep 24, 2014 8:49pm Sep 24, 2014 8:49pm
Quoting OMGtrader
{quote} looks like to me when "round turn" refers to you paying commission when opening a trade and also commission when closing the trade. Similar to other financial products such as stocks.
thanks man!
  • #5,044
  • Sep 25, 2014 10:59pm Sep 25, 2014 10:59pm
I'm still waiting to see where is the hidden catch on this new price structure. Because there is no such a thing as a honest broker

Meanwhile FXCM will probably bankrupt all other american brokers.

Maybe thats what they have in mind.

Starve the competition.

Once they are done, set the rules at it pleases to your captive audience.

I guess time will tell.
Don't call me. I call you!
  • #5,045
  • Sep 26, 2014 9:03am Sep 26, 2014 9:03am
Quoting Poolsuckswat
hi jason, can you please explain what's a "round turn" commission in the new price/spread structure? i'm a bit confused. thanks!
Quoting OMGtrader
{quote} looks like to me when "round turn" refers to you paying commission when opening a trade and also commission when closing the trade. Similar to other financial products such as stocks.
Hi Poolsuckswat,

As OMGtrader has already said (thank you ) "round turn" commission refers to the total commission you would pay for both opening and closing a trade.

For example, on a 10k mini lot trade on EUR/USD, you would pay 40 cents commission per side. That's 40 cents when you open the trade, and 40 cents when you close it. That's a round turn commission of 80 cents. With a 0.2 spread on EUR/USD, you would pay 20 cents in spread cost. That plus the 80 cents round turn commission adds up to a total transaction cost of $1 on your 1k micro lot trade. That's 60% less than the old pricing model where you would have paid $2.50 in spread cost with no commission.

http://i.imgur.com/6qDMIQm.png


We believe our new pricing model reflects FXCM's core business principals, offering direct access to quotes from multiple liquidity providers with no markup and transparent low commissions: http://www.fxcm.com/products/forex/f...0000000MusRAAS

1 Listed spreads and commissions will not apply to some customer accounts due to their relationship with certain intermediaries.
  • #5,046
  • Sep 26, 2014 10:45am Sep 26, 2014 10:45am
I've searched, and I can't find anything on this. Is there a reason that FXCM isn't supporting the Trade Explorer for the last 6 months or so? I'm getting this message:

Quote
Cannot Retrieve Full Account History
The brokerage account does not contain your full/accurate trading history due to limitations imposed by the broker, and therefore the Trade Explorer cannot determine the proper starting equity. Click here if you would like to display the Trade Explorer with only the available data. To compensate for the missing data, an 'Initial Adjustment' will be made to bring the account equity to the proper starting level.

http://www.forexfactory.com/chest2tank/19
  • #5,047
  • Sep 26, 2014 11:20am Sep 26, 2014 11:20am
Quoting Chest2Tank
I've searched, and I can't find anything on this. Is there a reason that FXCM isn't supporting the Trade Explorer for the last 6 months or so? I'm getting this message: {quote} http://www.forexfactory.com/chest2tank/19
Hi Chest2Tank,

Our MT4 platform archives trade history data older than 30 days. This is done to improve the platform's performance, but a side effect is that our MT4 platform cannot be used with Trade Explorer. However, Forex Factory is currently working on an integration with our Trading Station platform.

Since your MT4 login also works on Trading Station, you will be able to link your FXCM account to Trade Explorer when the Forex Factory integration has been completed. While I don't have exact dates at this time, I'll post an update for you when I have more information.
  • #5,048
  • Sep 26, 2014 11:40am Sep 26, 2014 11:40am
Quoting Jason Rogers
{quote} Hi Chest2Tank, Our MT4 platform archives trade history data older than 30 days. This is done to improve the platform's performance, but a side effect is that our MT4 platform cannot be used with Trade Explorer. However, Forex Factory is currently working on an integration with our Trading Station platform. Since your MT4 login also works on Trading Station, you will be able to link your FXCM account to Trade Explorer when the Forex Factory integration has been completed. While I don't have exact dates at this time, I'll post an update for...
Awesome Jason, thanks! I just tried to reach you in NYC, but I was kept on hold for a long time. Guess the receptionist went out for lunch.
  • #5,049
  • Sep 26, 2014 12:06pm Sep 26, 2014 12:06pm
Quoting Jason Rogers
{quote} {quote} Hi Poolsuckswat, As OMGtrader has already said (thank you ) "round turn" commission refers to the total commission you would pay for both opening and closing a trade. For example, on a 10k mini lot trade on EUR/USD, you would pay 40 cents commission per side. That's 40 cents when you open the trade, and 40 cents when you close it. That's a round turn commission of 80 cents. With a 0.2 spread on EUR/USD, you would pay 20 cents in spread cost. That plus the 80 cents round turn commission adds up to a total transaction cost of $1...
I see now that in this particular case FXCM is just aligning their price with what has been charged by the competition for years.

2.5 pips was way too high for modern day forex trading.

Around 1 pip was what the competition is charging for years now.

The price will increase gradually from micro to full lots so it seems that small accounts will pay a little less.

Anyways I was wrong, thinking they are ahead of the game.

They are just positioning themselves at the same level.
Don't call me. I call you!
  • #5,050
  • Sep 26, 2014 1:42pm Sep 26, 2014 1:42pm
Quoting Chest2Tank
{quote} Awesome Jason, thanks! I just tried to reach you in NYC, but I was kept on hold for a long time. Guess the receptionist went out for lunch.
Hi Chest2Tank,

My colleagues in our customer support team can provide you with help over the phone 24 hours a day, 7 days a week. I notice your forum profile mentions that you live in the US. Our toll-free number in the US 1-888-50-FOREX (1-888-503-6739).
  • #5,051
  • Sep 26, 2014 2:08pm Sep 26, 2014 2:08pm
Quoting MarginCalled
The price will increase gradually from micro to full lots so it seems that small accounts will pay a little less.
Hi MC,

I'm not sure if this is what you meant by "increase gradually from micro to full lots", but just to clarify for everyone, here's the breakdown of commissions* for different trade sizes:

http://i.imgur.com/Jx5a15q.png



For example, if you trade a 1k micro lot of EUR/USD, then with a 0.2 pip spread you would pay 2 cents in spread cost plus 8 cents in round turn commission (4 cents per side). That's 10 cents in total transaction cost or 1 pip on a 1k trade.

If you trade a 100k standard lot of EUR/USD, then with a 0.2 pip spread you would pay $2 in spread cost plus $8 in round turn commission ($4 per side). That's $10 in total transaction cost or 1 pip on a 100k trade.


* Listed commissions will not apply to some customer accounts due to their relationship with certain intermediaries.
  • #5,052
  • Sep 26, 2014 3:16pm Sep 26, 2014 3:16pm
Quoting Jason Rogers
{quote} Hi MC, I'm not sure if this is what you meant by "increase gradually from micro to full lots", but just to clarify for everyone, here's the breakdown of commissions* for different trade sizes: {image} For example, if you trade a 1k micro lot of EUR/USD, then with a 0.2 pip spread you would pay 2 cents in spread cost plus 8 cents in round turn commission (4 cents per side). That's 10 cents in total transaction cost or 1 pip on a 1k trade. If you trade a 100k standard lot of EUR/USD, then with a 0.2 pip spread you would pay $2 in spread cost...
Yep thats what I was saying.

At first glance i thought it was an amazing deal which could shake the ground of the competition.

Now after doing the math I can see that you guys just aligned your prices with everybody else.

You guys used to be a expensive broker charging 2.5 pips. Now the charges are fair ( around 1 pip) and in line with your competition.

Anyways I applaud you guys move.

Brokers now days are still not perfect but a lot better than a decade ago when I started.

PS - On your schedule 2 you guys are still a bit on the high side but perfectly acceptable.
Don't call me. I call you!
  • #5,053
  • Sep 26, 2014 5:09pm Sep 26, 2014 5:09pm
Quoting MarginCalled
{quote} Yep thats what I was saying. At first glance i thought it was an amazing deal which could shake the ground of the competition. Now after doing the math I can see that you guys just aligned your prices with everybody else. You guys used to be a expensive broker charging 2.5 pips. Now the charges are fair ( around 1 pip) and in line with your competition. Anyways I applaud you guys move. Brokers now days are still not perfect but a lot better than a decade ago when I started. PS - On your schedule 2 you guys are still a bit on the high side...
If there was no "Round Turn" that would truly be an amazing deal, but oh well...
  • #5,054
  • Sep 26, 2014 11:50pm Sep 26, 2014 11:50pm
FXCM customer support, where have you gone??? I am trying to contact you now.
Please check out my blog at https://from-zero-to-hero . net
  • #5,055
  • Sep 27, 2014 12:12am Sep 27, 2014 12:12am
FXCM best global broker, period
Bavarian Trading FX
  • #5,056
  • Sep 27, 2014 12:15am Sep 27, 2014 12:15am
Quoting Deutschland
FXCM best global broker, period
ROFL... you must be kidding

And if you're not, then you don't know what you're talking about.

I'm done with this shit.
Please check out my blog at https://from-zero-to-hero . net
  • #5,057
  • Sep 27, 2014 7:55am Sep 27, 2014 7:55am
Quoting Deutschland
FXCM best global broker, period
Are you drunk ?
  • #5,058
  • Edited Sep 28, 2014 9:25am Sep 27, 2014 12:13pm | Edited Sep 28, 2014 9:25am
After reviewing the strategy it appears to simply be a marketing tactic. If you do not trade one of the "14" designated currency pairs, your transaction cost will actually go up. For instance, the average spread on USD/DKK is 5.5, however it never fills at that. Somehow it runs 5.7 to 10 pips of slippage on every entry. Once entered, then the spread converts to 5.5 and you do get instant exit pricing. Really not sure why only the entry slips EVERY time, wink wink.

Now under the "new and improved" transparency???? USD/DKK will "average" 2.4 pips and then charge 0.06 + 0.06 for an overall increase of 69%. Assuming you actually got a 5.5 pip spread, now with the "hidden" cost, your spread is 12.4 (rounded up). Thank you so much for doubling the cost without disguising it.

One of the main incentives for trading Forex was the lack of commission costs. All the pricing was in the spread, making it super simple to figure trade size, profit points, stop losses, etc. Now, they have to screw it all up by making it look like the equities market. Their excuse? Removing hidden costs, LOL. So, by ADDING hidden costs, they are actually removing them. My intuition is on high alert that something incredibly suspicious is going on here.

I have this strange sensation FXCM is turning into a phone company or cable company where they lure you in at one price and then pile on additional costs every month until you are bankrupt. Not feeling good about this. Had the pricing model actually been equal across all pairs, maybe it would be less suspicious. If the spread was LOCKED, it would be less suspicious. I can already smell the next lawsuit.
You cannot be extraordinary by being normal
  • #5,059
  • Sep 27, 2014 11:28pm Sep 27, 2014 11:28pm
Quoting dkrock
After reviewing the strategy it appears to simply be a marketing tactic. If you do not trade one of the "14" designated currency pairs, your transaction cost will actually go up. For instance, the average spread on USD/DKK is 5.5, however it never fills at that. Somehow it runs 5.7 to 10 pips of slippage on every entry. Once entered, then the spread converts to 5.5 and you do get instant exit pricing. Really not sure why only the entry slips EVERY time, wink wink. Now under the "new and improved" transparency???? USD/DKK will "average" 2.4 pips...
I think they are cheaper now, I only trade majors so.....

They may go the "bait and switch" way with low spreads now and increasing it slowly. So in time you will have lets say 1.5 pips spread plus commission.

Anyways as i said above there is no such a thing as a "honest" broker. They will screw you if they can.

Just take Oanda as an example. Their spreads jump all over that it is virtually impossible to know what price you are actually paying.
Don't call me. I call you!
  • #5,060
  • Sep 27, 2014 11:29pm Sep 27, 2014 11:29pm
Quoting dkrock
After reviewing the strategy it appears to simply be a marketing tactic.
...

... One of the main incentives for trading Forex was the lack of commission costs. All the pricing was in the spread, making it super simple to figure trade size, profit points, stop losses, etc. Now, they have to screw it all up by making it look like the equities market. Their excuse? Removing hidden costs, LOL. So, by ADDING hidden costs, ...
AND the extra commision is not shown against the trade in the normal commission column in the Trading Tab.
It is actioned off your account balance and hidden away in the History Tab.

Really suxs fxcm, just such a suspect way to run your doctored version of the MT4 platform.

scalpz
Target 2 : Stoploss in the green
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