FXCM Discussion

hi eayzz. i just send a private message to you, please check

.

Personally, I accept that there exists an exemption clause to the "no negative balance policy" in the contract.

I fully understand that under certain circumstances, FXCM cannot execute "no negative balance policy".

But the point is that I am not fully explained this exemption clause by FXCM.

I am Chinese living in Hong Kong. I personally attended the Hong Kong FXCM office to open the account coz I wanted to clarify some points before entering into the contract.

When I visited the FXCM office, I was entertained by FXCM's staff. I have asked repeatedly about the "no negative balance policy". But the FXCM staff just reassured me repeatedly without drawing my attention to such an exemption clause in the contract.

I am personally cheated and misled by the FXCM staff.

Thus I am so disappointed and frustrated.

again we fxcm increase their margins for the second week by 100%

Going out in a blaze of glory I'd say.
they are a basket case with nothing to lose

#Post 7,025

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Personally, I accept that there exists an exemption clause to the "no negative balance policy" in the contract.

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Disliked

But the point is that I am not fully explained this exemption clause by FXCM.

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Disliked

When I visited the FXCM office, I was entertained by FXCM's staff. I have asked repeatedly about the "no negative balance policy". But the FXCM staff just reassured me repeatedly without drawing my attention to such an exemption clause in the contract.

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Disliked

Thus I am so disappointed and frustrated.

CAN A LEOPARD CHANGE IT'S SPOTS ?

Past spots of NOT BEING OPEN appear to persist !

http://www.fca.org.uk/news/fca-fines...n-with-the-fca​


Remains unanswered - #Post 6,969

The terms of FXCM master trading agreement, available on the FXCM website, provide FXCM with rights to collect negative balance plus interest.

For the benefit of ALL FXCM clients can Jason Rogers or an FXCM representative:

1. Name the disclosure document where this information can be found.
2. Indicate the relevant clause number/s reference.

1. THIS INFORMATION IS RELEVANT TO ALL FXCM EXISTING CLIENTS AND ANY FUTURE FXCM CLIENT.
2. THE FXCM DISCLOSURE DOCUMENTS ON THE FXCM WEBSITE ARE PUBLIC & NON-CONFIDENTIAL DOCUMENTS.
3. THERE CAN BE NO EXCUSE FOR FXCM NOT INDICATING THE DOCUMENT AND RELEVANT CLAUSE NUMBER/S REFERENCE.

I did withdraw ALL my funds from FXCM. Let us see how they shape up in future, if they have any.

again, as I mentioned earlier, it is all up to the management and the vision of leadership.

It is hopeless to see only market suckers are available in USA to trade currencies, like forex.com(read the reviews in FPA).

If the NFA wants things to be regulated, they should be asking these brokers to give high leverage, so that the size of the clients fund in the unsafe environment will be reduced.

If they don't want to do that, at least get the security for client funds.

If an idiot is funding 50K to trade, then his idiotism should be protected; because the stupid law does not allow that idiot to trade with smaller capital like the rest of the world does.

And, what the f*** is FIFO. why it should be there? Is it to protect brokers?

Example, if I get into a long position early, why should I give that early position first, when I keep adding further positions later. This FIFO rule shows how st**id the NFA people are. I wish someone with brain and trade experience drafts these rules.

anyway, I am also looking for some offshore brokers. I rather trade 1std lot with 4K capital than having 40k capital. Hello, NFA!!!

Hello Jason

After an update that i had on my FXCM Trading Station.The (SHOWTIME) on M5 says 7:00 min when a new candel oppens and on M1 3min.Other look fine.Are they working on platform or its something i did.

EDIT: (Added SS)What i actually means is this,The Showtime says nexr 1 minite candle closes in 2min.

I have seen how FXCM manipulates daily volume bars at the weekend. Here are the pictures I took. Notice how the volume bars for 1/29/2015 are different sizes even though they are the same date. On the first daily chart the volume bar for 1/29 is very long. And the second chart the volume bar for the 1/29 was changed to smaller size. Why is FXCM manipulating the volume daily bars in the weekend?

Latest article about FXCM's misleading marketing and their no negative balance policy,

http://seekingalpha.com/article/2897...ding-marketing


Please spread this article as much as you can. Existing and past customers should be aware of this fraud.

you should never use your broker chart that you trade with, you should use outside charting companies

http://www.esignal.com/trading-softw...d-get.aspx?tc=

http://www.cqg.com/Products/CQG-FX.aspx

http://www.multicharts.com/

damn you get to page two and gotta register, i hate shit like that

If they are trying to follow stock market model where one can lose more than deposit, better ready and offer the same trading environment. Without knowing where orders are sitting, the retail traders are more like betting on their prediction.

LOL ... Did any one pay for the 'no neg A/C policy' amount? Technically, I see a daily bearish divergence on @FXCM's collection!!!

For any one interested here are the Pips R:R required to get True $$ R:R


After spread and commissions to have a true 1:1 R:R ratio meaning win or lose be the same. You need to risk 3 Pips for 5 Pips.
Commission+Spread is 1$ every 10,000 Lots for the pairs I trade(Commission Schedule 1).



Assuming Spread is .2
(5 Pip Target for 1:1)
1:1 = 3 Pips For 5 Pips = 4 Pip Pay Out or 4 Pip Loss After Commission/Spread. - True R:R 1:1.66
1:2 = 3 Pips For 9 Pips = 8 Pip Pay Out or 4 Pip Loss After Commission/Spread. - True R:R 1:3
1:3 = 3 Pips For 13 Pips = 12 Pip Pay Out or 4 Pip Loss After Commissions/Spread. - True R:R 1:4.25
1:4 = 3 Pips For 17 Pips = 16 Pip Pay Out or 4 Pip Loss After Commissions/Spread. - True R:R 1:5.66
1:5 = 3 Pips For 21 Pips = 20 Pip Pay Out or 4 Pip Loss After Commissions/Spread. - True R:R 1:7

(10 Pip Target for 1:1)
1:1 = 8 Pips For 10 Pips = 9 Pip Pay Out or 9 Pip Loss After Commissions/Spread. - True R:R 1:1.25
1:2 = 8 Pips For 19 Pips = 18 Pip Pay Out or 9 Pip Loss After Commissions/Spread. - True R:R 1:2.37
1:3 = 8 Pips For 28 Pips = 27 Pip Pay Out or 9 Pip Loss After Commissions/Spread. - True R:R 1:3.5
1:4 = 8 Pips for 37 Pips = 36 Pip Pay Out or 9 Pip Loss After Commissions/Spread. - True R:R 1:4.63
1:5 = 8 Pips for 46 Pips = 45 Pip Pay Out or 9 Pip Loss After Commissions/Spread. - True R:R 1:5.8

Assuming Spread is .4
(5 Pip Target for 1:1)
1:1 = 2.6 Pips For 5 Pips = 3.8 Pips Pay Out or 3.8 Pips Loss After Commission/Spread. - True R:R 1:1.92
1:2 = 2.6 Pips For 8.8 Pips = 7.6 Pips Pay Out or 3.8 Pips Loss After Commission/Spread. - True R:R 1:3.38
1:3 = 2.6 Pips For 12.6 Pips = 11.4 Pips Pay Out or 3.8 Pip Loss After Commissions/Spread. - True R:R 1:4.85
1:4 = 2.6 Pips For 16.4 Pips = 15.2 Pips Pay Out or 3.8 Pip Loss After Commissions/Spread. - True R:R 1:6.3
1:5 = 2.6 Pips For 20.2 Pips = 19 Pips Pay Out or 3.8 Pip Loss After Commissions/Spread. - True R:R 1:7.77

(10 Pip Target for 1:1)
1:1 = 7.6 Pips For 10 Pips = 8.8 Pip Pay Out or 8.8 Pip Loss After Commissions/Spread. - True R:R 1:1.32
1:2 = 7.6 Pips For 18.8 Pips = 17.6 Pip Pay Out or 8.8 Pip Loss After Commissions/Spread. - True R:R 1:2.56
1:3 = 7.6 Pips For 27.6 Pips = 26.4 Pip Pay Out or 8.8 Pip Loss After Commissions/Spread. - True R:R 1:3.63
1:4 = 7.6 Pips For 36.4 Pips = 35.2 Pip Pay Out or 8.8 Pip Loss After Commissions/Spread. - True R:R 1:4.79
1:5 = 7.6 Pips For 45.2 Pips = 44 Pip Pay Out or 8.8 Pip Loss After Commissions/Spread. - True R:R 1:5.95

FXCM charges an even higher commission on all other pairs(Commission Schedule 2) which ends up being $1.20 every 10,000 lots traded which make the numbers even uglier.





Assuming Spread is 2
(5 Pip Target for 1:1)
1:1 = 2.2 Pips For 5 Pips = 3.6 Pips Pay Out or 3.6 Pips Loss After Commission/Spread. - True R:R 1:2.27
1:2 = 2.2 Pips For 8.6 Pips = 7.2 Pips Pay Out or 3.6 Pips Loss After Commission/Spread. - True R:R 1:3.9
1:3 = 2.2 Pips For 12.2 Pips = 10.8 Pips Pay Out or 3.6 Pip Loss After Commissions/Spread. - True R:R 1:5.54
1:4 = 2.2 Pips For 15.8 Pips = 14.4 Pips Pay Out or 3.6 Pip Loss After Commissions/Spread. - True R:R 1:7.18
1:5 = 2.2 Pips For 19.4 Pips = 18 Pips Pay Out or 3.6 Pip Loss After Commissions/Spread. - True R:R 1:8.18

(10 Pip Target for 1:1)
1:1 = 7.2 Pips For 10 Pips = 8.6 Pip Pay Out or 8.6 Pip Loss After Commissions/Spread. - True R:R 1:1.38
1:2 = 7.2 Pips For 18.6 Pips = 17.2 Pip Pay Out or 8.6 Pip Loss After Commissions/Spread. - True R:R 1:2.58
1:3 = 7.2 Pips For 27.2 Pips = 25.8 Pip Pay Out or 8.6 Pip Loss After Commissions/Spread. - True R:R 1:3.78
1:4 = 7.2 Pips For 35.8 Pips = 34.4 Pip Pay Out or 8.6 Pip Loss After Commissions/Spread. - True R:R 1:4.97
1:5 = 7.2 Pips For 44.4 Pips = 43 Pip Pay Out or 8.6 Pip Loss After Commissions/Spread. - True R:R 1:6.16

Assuming Spread is .4
(5 Pip Target for 1:1)
1:1 = 1.8 Pips For 5 Pips = 3.4 Pips Pay Out or 3.4 Pip Loss After Commissions/Spread. - True R:R 1:2.77
1:2 = 1.8 Pips For 8.4 Pips = 6.8 Pips Pay Out or 3.4 Pip Loss After Commissions/Spread. - True R:R 1:4.66
1:3 = 1.8 Pips For 11.8 Pips = 10.2 Pip Pay Out or 3.4 Pip Loss After Commissions/Spread. - True R:R 1:6.55
1:4 = 1.8 Pips For 15.2 Pips = 13.6 Pip Pay Out or 3.4 Pip Loss After Commissions/Spread. - True R:R 1:8.44
1:5 = 1.8 Pips For 18.6 Pips = 17 Pip Pay Out or 3.4 Pip Losses After Commissions/Spread. - True R:R 1:10.33

(10 Pip Target for 1:1)
1:1 = 6.8 Pips For 10 Pips = 8.4 Pip Pay Out or 8.4 Pip Loss After Commissions/Spread. - True R:R 1:1.47
1:2 = 6.8 Pips for 18.4 Pips = 16.8 Pip Pay Out or 8.4 Pip Loss After Commissions/Spread. - True R:R 1:2.71
1:3 = 6.8 Pips For 26.8 Pips = 25.2 Pip Pay Out or 8.4 Pip Loss After Commissions/Spread. - True R:R 1:3.94
1:4 = 6.8 Pips For 35.2 Pips = 33.6 Pip Pay Out or 8.4 Pip Loss After Commissions/Spread. - True R:R 1:5.18
1:5 = 6.8 Pips for 43.6 Pips = 42 Pip Pay Out or 8.4 Pip Loss After Commissions/Spread. - True R:R 1:6.41
FXCM Spreads



Keep in mind that almost NONE of the Commission Schedule 2 Pairs are under .4 Pip spread and most hang around .6-1.4... YIKES!!!


So there you have it. When trading with FXCM to use a real R:R of 1:1 you need to really use a R:R of 1:1.66 Pips wise.



hmmmmm I must say that is rather odd/shady.

Would love to hear FXCM response to that, has that Rep shown his face in here since the CHF debacle?

I am sure you already read this: Negative A/C, FXCM

http://seekingalpha.com/article/2897...ding-marketing

Master Trading Agreement - registration not required.

http://seekingalpha.com/instablog/17...ess-turnaround

The terms of FXCM master trading agreement, available on the FXCM website, provide FXCM with rights to collect negative balance plus interest.

Jason Rogers - for the benefit of all FXCM clients, where exactly is this disclosure/document ?

Wow, go back and read some of my posts. It is an absolute pleasure to hear someone with the exact same view on the subject. You hit it right on the head: If they were really protecting us, leverage would be higher so we wouldn't have as much on deposit with broker. The fact that NFA PROHIBITS segregation of accounts or insurance on funds PROVES they are not looking out for our best interest. To trade a standard lot of USDJPY requires $3,030 in margin under NFA, my broker requires $200. So people can say all they want regarding unregulated brokers because that other $2,800 is still sitting in MY BANK ACCOUNT.

Trading costs exist at every broker and despite the fact I would never trade at FXCM, their costs are among the lowest in the industry. You are not going to get spreads under .5 without paying commission. Try the formula again with no commission and spread of 2.5

I am not mentioning this in regards to getting better spreads or to say these spreads are too high. I personally really like FXCM pricing model. It just thought others would find it useful to see how it factors into their trading in regards to the pip Risk Reward ratios they are trading with etc.

I always knew that using a 5 pip stop and TP wasnt truly 1:1 R:R, i just never knew how much of a difference spread and commission makes on it depending on the size of TP and SL you are using. And since its done using FXCM pricing i figured it made sense to post in the FXCM thread.