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  • #5,481
  • Edited 2:07pm Nov 21, 2014 1:43pm | Edited 2:07pm
Quoting pmmebids
{quote} Haha, you said Hi Jason.. (Friday after all) please to tell that it worked a bit earlier. Thanks
Corrected. Thanks!

Also, I'm glad to hear the reports are now working for you.
  • #5,482
  • Nov 21, 2014 3:37pm Nov 21, 2014 3:37pm
Quoting raaammy
Hi, I was using fxcm trading station where you trade at £ per pip (in the UK). Now I am using fxcm MT4 and traders are % risk or lot size. So, my question is this - is there an easy was to know what 1 lot size trades at £ per pip? Or an easy way to know what say 10% risk is at £ per pip? Is this the same on different currency pairs? I know there must be an easy answer, I just havent found it yet! Thaks for your help.
Hi Raaammy,

As far as I know, there is no such option on MT4. While FXCM developed Trading Station in-house and added that feature ourselves, MT4 is a third-party platform, so there are limits to the changes we can make to it's functionality. That said, I'll let you know should we ever add a solution on FXCMapps.com for MT4 users who want to view their trade sizes in pounds per point. Was there a particular reason you were looking to use MT4?
  • #5,483
  • Nov 21, 2014 4:03pm Nov 21, 2014 4:03pm
Quoting 4xtom
{quote} I changed Maximum Deviation setting from 10 to 30 and everything is working fine so far. Thank you Jason.
That's great to hear, Tom!
  • #5,484
  • Nov 21, 2014 4:12pm Nov 21, 2014 4:12pm
Quoting Acroix70
I feel bad for Jason Everyday he has to deal with bad traders blaming their constant losses on FXCM God bless you, I wouldn't have the patience {image}
Quoting Alone.
{quote} Agree
Quoting PoundTrader
{quote}
Quoting Aad
{quote} Jason Rogers (real name unknown), is a pro and I wouldn't expect anything less. I wish him a great holiday season and I thank him for the great help in getting all my IBFX transfer/account issues fixed...
Quoting mitch77
The fact is that if you go with a regulated STP/ECN broker the chances are that you are not going to loose any money due to their negligence but only due to poor trading. The majority of these complaints time and again have been proven to be the fault of the "trader" and I am only talking about in this thread

Thank you all for your kind words of encouragement!

It's my pleasure to help traders on this forum by answering their questions and addressing any concerns. I hope everyone has a great weekend!
  • #5,485
  • Nov 21, 2014 5:20pm Nov 21, 2014 5:20pm
Quoting Jason Rogers
{quote} {quote} {quote} {quote} {quote} Thank you all for your kind words of encouragement! It's my pleasure to help traders on this forum by answering their questions and addressing any concerns. I hope everyone has a great weekend!
Thanks you Jason.Have a nice weekend too
  • #5,486
  • Nov 21, 2014 9:56pm Nov 21, 2014 9:56pm
Quoting Jason Rogers
{quote} Hi Abcxyz77, While I cannot comment on that case specifically, I can say that an account could be closed for any number of reasons. A client being profitable is not one of those reasons. Just two days ago one of our clients posted in this thread about withdrawing 20K in profits from his account: http://www.forexfactory.com/showthre...98#post7883598 FXCM offers traders No Dealing Desk (NDD) forex execution, which means we offset each client order one-for-one with the best prices quoted from among 10+ competing liquidity...
Thank you, could you send me the lists of reasons to close one account.
  • #5,487
  • Nov 21, 2014 10:08pm Nov 21, 2014 10:08pm
Quoting mitch77
{quote} Over 100 trades and 0 losses! do you really believe that? Must be the best trader in the world. ABCXYZ you are all over these broker threads thinking that all brokers are out to steal your money. The fact is that if you go with a regulated STP/ECN broker the chances are that you are not going to loose any money due to their negligence but only due to poor trading. The majority of these complaints time and again have been proven to be the fault of the "trader" and I am only talking about in this thread. Example member 4xTom crying like a...
Yeah, I understand that Fxcm is the biggest forex retailersbrokers in US by the number of customers in think. Big forex companies have been bankrupted before, even Lehman Brothers. It's only safe when money in my hands, that's the reason why we buy insurance for almost everything. Doing research about brokers and how about their business is very important, if I lose one trade i only lost maximum 10% of my account, but if something going wrong to the broker it's 100% lost.
  • #5,488
  • Nov 22, 2014 3:21am Nov 22, 2014 3:21am
Quoting Jason Rogers
{quote} {quote} {quote} {quote} {quote} Thank you all for your kind words of encouragement! It's my pleasure to help traders on this forum by answering their questions and addressing any concerns. I hope everyone has a great weekend!


I would suggest we need more posts like these

http://www.forexfactory.com/showthre...64#post7882464

This is the real face of retail forex trading.
  • #5,489
  • Nov 22, 2014 3:43am Nov 22, 2014 3:43am
Quoting Mingary
{quote} I would suggest we need more posts like these http://www.forexfactory.com/showthre...64#post7882464 This is the real face of retail forex trading.
Sadly you are correct, over leveraged, underfunded and on credit card.
  • #5,490
  • Nov 22, 2014 3:44am Nov 22, 2014 3:44am
Quoting Mingary
{quote} I would suggest we need more posts like these http://www.forexfactory.com/showthre...64#post7882464 This is the real face of retail forex trading.
Sadly you are correct, over leveraged, underfunded, no stop loss and on credit card.
  • #5,491
  • Edited 5:09am Nov 22, 2014 3:49am | Edited 5:09am
Quoting mitch77
{quote} Sadly you are correct, over leveraged, underfunded and on credit card.
Indeed.
This situation submerged onto a public forum. it's guaranteed the bulk of the iceberg is just more of the same...
  • #5,492
  • Nov 23, 2014 8:29pm Nov 23, 2014 8:29pm
hi jason and all,
i keep getting 'Trade is disabled' message every time i want to enter a trade...
Money is made by sitting, not trading. Jesse L. Livermore
  • #5,493
  • Nov 24, 2014 7:18am Nov 24, 2014 7:18am
Quoting sam69
hi jason and all, i keep getting 'Trade is disabled' message every time i want to enter a trade...
my account is locked all of a sudden and nobody responding...
Money is made by sitting, not trading. Jesse L. Livermore
  • #5,494
  • Edited 12:55pm Nov 24, 2014 10:41am | Edited 12:55pm
Quoting sam69
{quote} my account is locked all of a sudden and nobody responding...
Hi Sam,

Yours is the first forum post that I'm responding to today . Note that I live in New York, so you can expect forums responses from me during US daytime hours from Monday to Friday. If you need a faster response, you can call our live customer support anytime 24 hours a day, 7 days week.

Quoting sam69
hi jason and all, i keep getting 'Trade is disabled' message every time i want to enter a trade...
Your trading account was transferred to us from your previous broker as part of FXCM's acquisition of all their MT4 accounts in September. The reason the account was locked over the weekend is because we have not yet received your consent to FXCM's Customer Agreement.

We sent you emails requesting this in September, October and earlier this month including information on the deadline to prevent your trading account from being locked. If you are not receiving our emails to you, then please log into MyFXCM.com to make sure we have the correct email address on file for you. Also, please check the spam filter settings on your email account.

If you complete this form now, your account will be unlocked, so you can resume trading. I sent you a copy of the form via private message. Please reply back to my message after submitting your consent.

Thanks,
Jason
  • #5,495
  • Nov 24, 2014 11:05am Nov 24, 2014 11:05am
Quoting Jason Rogers
{quote} Hi Sam, Yours is the first forum post that I'm responding to today . Note that I live in New York, so you can expect forums responses from me during US daytime hours from Monday to Friday. In you need a faster response, you can call our live customer support anytime 24 hours a day, 7 days week. {quote} Your trading account was transferred to us from your previous broker as part of FXCM's acquisition of all their MT4 accounts in September. The reason the account was locked over the weekend is because we have not yet received your consent...
hi jason,
i have just filled the consent form but i really dont know why i didnt get those emails...but anyway, thank you very much!

regards, sam

ps: pm replied
Money is made by sitting, not trading. Jesse L. Livermore
  • #5,496
  • Nov 24, 2014 1:31pm Nov 24, 2014 1:31pm
Quoting sam69
{quote} hi jason, i have just filled the consent form but i really dont know why i didnt get those emails...but anyway, thank you very much! regards, sam ps: pm replied
It's my pleasure, Sam

You should have received an email confirmation from our Operations department by now regarding the reactivation of your trading account. Please confirm that you received this email.

Thanks,
Jason
  • #5,497
  • Nov 24, 2014 4:57pm Nov 24, 2014 4:57pm
Quoting Abcxyz77
{quote} Thank you, could you send me the lists of reasons to close one account.
For security, I can't provide you with a list of specific reasons. However, I can say that, as a regulated financial firm, FXCM complies with Know Your Customer (KYC) guidelines. An internet search of standard KYC policies will give you a good idea of those guidelines.
  • #5,498
  • Nov 24, 2014 5:16pm Nov 24, 2014 5:16pm
Quoting Abcxyz77
{quote} Yeah, I understand that Fxcm is the biggest forex retailersbrokers in US by the number of customers in think. Big forex companies have been bankrupted before, even Lehman Brothers. It's only safe when money in my hands, that's the reason why we buy insurance for almost everything. Doing research about brokers and how about their business is very important, if I lose one trade i only lost maximum 10% of my account, but if something going wrong to the broker it's 100% lost.
You make an excellent point, Abcxyz77

It's no secret that the brokerage industry has been in the midst of a price war for the past few years. That combined with lower trading volumes over the past couple of years have caused many brokers to struggle. In recent times, we have seen brokers that have gone bankrupt in Europe, the US and Australia.

How can you know whether the broker you choose is a safe place to keep your money? Are they profitable, or are they barely staying afloat? Unfortunately, the vast majority of forex brokers are privately-held companies, so it's hard to know the state of their finances. That's why all traders need to ask brokers the following questions regarding their financial stability.

  1. What are your revenues?
  2. How profitable is your firm?
  3. Do you have a top-tier third-party accounting firm auditing your financials?

Since we are a publicly-traded firm (NYSE ticker: FXCM) our financial information is readily available: http://bit.ly/1npdek8

Furthermore, on our No Dealing Desk (NDD) forex execution model means that we offset each client order one-for-one with our liquidity providers. That means FXCM is not exposed to the same market risk that dealing desk brokers take on in the forex market.

  • #5,499
  • Edited 5:55pm Nov 24, 2014 5:39pm | Edited 5:55pm
Quoting Mingary
{quote} I would suggest we need more posts like these http://www.forexfactory.com/showthre...64#post7882464 This is the real face of retail forex trading.
Quoting mitch77
{quote} Sadly you are correct, over leveraged, underfunded, no stop loss and on credit card.
Quoting Mingary
{quote} Indeed. This situation submerged onto a public forum. it's guaranteed the bulk of the iceberg is just more of the same...
You are both right to highlight the potential pitfalls of overleveraging and the importance of trading only with risk capital. That said, it might be best not to jump to too many conclusions from the comments of one trader who has withdrawn 20K in profits this month and yet still prefers to fund his trading account by credit card for the speed and convenience of this method compared to other alternatives in his home country. Clearly, he is an outlier in more ways than one. The fact is that there are 212,019 real faces of retail forex trading at FXCM. That's the total number of retail tradable accounts with us as of September 30th, 2014: http://bit.ly/1npdek8

If you want to draw some meaningful conclusions, then it's important to use a big enough sample size. That's what the DailyFX analysts did in a series of profitability studies on the anonymous trading records of tens of thousands of FXCM clients. They looked at profitability based on time frame, leverage, pairs traded and a host of other factors to determine the common best practices of the most successful traders. I encourage anyone interested in knowing the real face of retail forex trading to take a look at these free reports to get a better understanding of the diversity of approaches out there, and how they have worked out for others: http://bit.ly/176qmFT
  • #5,500
  • Nov 24, 2014 9:55pm Nov 24, 2014 9:55pm
Hi Jason,
I was amazed with your new spreads even on mt4. I also understand that the commission for one round turn per standard lot is $8. Can you answer the following questions?

1. Does this new low spreads and commission apply to your standard accounts?

2. What is the maximum leverage obtainable on the standard account and please provide me with a link on how I can increase my leverage above the default 200:1 that your firm offers?

3. Does an automatic switch take place to convert a client with a standard account who surpasses $25,000 in trading balance to the active trader account? Or does the client have to apply for his account to be converted from standard to active trader account when his trading balance exceeds $25,000.

I expect your swift response as always. Thank you.
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