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  • #7,221
  • Edited 6:25pm Feb 27, 2015 5:57pm | Edited 6:25pm
Quoting kuroro001
is fxcm gonna end up like Alpari during the next storm ?
Quoting Jason Rogers
We anticipate that with the proceeds from the sale of some non-core assets and continued earnings we can meet both near and long-term obligations of our financing, while preserving the strength of our franchise. It's widely known and understood that FXCM's core business has always been retail FX; It is the majority of our revenue. Earlier this month, we announced certain key operating metrics for January 2015 as we do every month as a publicly-traded company. The data show that it was our second best month ever in terms of retail volume... We believe that in the near term we can pay down a majority of the loan.
Quoting srt
with interest rates so low, why would they take such a burdensome deal? Why no loan from a major bank? Why no other offers? Makes you think the real situation isn't very promising despite the positive "spin" FXCM is putting on it's recent trader activity.
Quoting eurasian
My take on the deal is that it wasn't a solvency issue (although if the losses had been bigger, it would have been). Rather, this was a liquidity issue - FXCM had enough assets on the balance sheet, but needed cash for the regulators, and regulators don't take assets, they only take cash, and FXCM couldn't raise that cash over a weekend by selling assets. So the LUK loan was structured in a way to give FXCM the short-term cash while allowing them time to sell the assets to pay back the loan, and it obviously seems like a great deal for LUK

Just as a follow up on this, here's an article in today's Wall Street Journal where Leucadia confirms that they have begun to receive payments from us and expect to recover more than a quarter of their investment within three months of the deal's closing: Leucadia Begins Recovering FXCM Investment - WSJ
  • #7,222
  • Feb 27, 2015 6:03pm Feb 27, 2015 6:03pm
From an FXCM forum on another site:

Additionally, all of our regulated entities except the U.S. provide clients with segregated funds. All of our global client base in our regulated entities minus US clients would be protected under a bankruptcy. Our UK regulated entity through the FSCS even offers clients £50,000 per person in protection. Canada has similar insurance for retail traders of up to $1 million CAD.

Read more: http://forums.babypips.com/fxcm/7195...#ixzz3SzcMXQ2S

Why is it that the USA, with the toughest forex regulations in the world, refuses to protect traders funds. After all, I thought the NFA was protecting us.
  • #7,223
  • Feb 28, 2015 9:45am Feb 28, 2015 9:45am
Quoting traderathome
zznbrm, You have quite the litany of adjectives, don't you! just fine rarely very good quite reasonable tightest in industry (totally wrong!) super fast very quickly more reliable plenty for my needs Unfortunately, they are your adjectives. No one else here has any idea of your standards by which you measure the suitability of using them! In all the time you have been at FF you have posted no real-time trades, nor anything else that would give an intelligent person some idea of your competency. As for Profit Daily, myself and all other USA traders...
My live trading is my business, no one else's.

I don't participate in this forum to gain anyone's approval or to see how many people think I'm smart or to get some measure of my competency. I'm here to learn a few things and hopefully help a few folks along the way. I think I have done that. My perceived IQ is irrelevant to me. The number of subscribers I have is certainly of no consequence to me.

Now it seems there are members of this forum who are here for very different reasons. Some people post thousands and thousands of times. They seem to use this forum as a measuring stick for how smart they are. They try to get as many subscribers as they can and then use that information as some sort of cyber-IQ test. It seems some people have a deep-down need for acceptence from a bunch of anonymous folks on a internet trading forum. While I find this to be very, very sad...if that's what it takes to get someone off, so be it.

So, traderathome, you seem to have quite-a-bit going on in that head of yours. Lots of conspiracy theories - Market Makers, "Robber" banks, Republicans, NFA, CFTC - it is really some list you have there. I must admit I've read only a very small percentage of your posts (really...over 20,000 posts...that must be a record). However, I'm sure somewhere you have covered the Kennedy assassination, UFOs, and the food companies adding secret ingredients to our food to make us fat so we buy more food.

You seem to be a very frustrated individual. I don't know...maybe you just finished doing your taxes and are upset about having to pay the government money...maybe you are on your period. But it seems you are most frustrated with being "handcuffed" by the forex regulations in the US. It must exponentially add to your frustration to hear how some traders have been able (and willing) to adapt to the challenges while you struggle to do so. That must be incredibly frustrating for you.

Now...you seem to be hung up on fact vs opinion and my usage of adjectives (I think some might be adverbs actually) without providing the standards for which I use them. Well, that is certainly a first. Ya know...let's see if I can expand on my last post a little bit. I do this not to gain your acceptance as I really don't need it. I do so in the spirit of providing a more complete opinion and to help readers to better understand my thoughts.

I'm with FXCM and they have treated me just fine.
--------------------------------------------------
I'm not sure how to define "fine" in this context. I'm satisfied with the service. I'm treated how I'd expect to be treated.

I've very rarely seen random price spikes.
-------------------------------------------
Maybe a few times I've seen random spikes...I don't know the exact number. I think that qualifies as "rarely".

My platform never freezes...I've never seen an "off quotes" message
--------------------------------------------------------------------
"never" is quite an absolute term. On January 15th, 2015 everything froze. So I guess "never freezes" was probably not accurate. However, it is true that I've "never" seen an "off quotes" message. Of course, I don't use MT4 for transactions. That should tell you something.

My commissions are quite reasonable
------------------------------------
For the instruments I trade, the standard commission is $0.40 per 10000. For some instruments that might be a little high compared to the industry average, for some instruments it might be a little low. However, depending on deposited funds and monthly trading volumes...these commission can be negotiated. Would I like even lower commissions? Of course...I'm not an idiot. However, judging by what I see from the rest of the industry, I do think the commissions are "reasonable". Then again I'm a little more interested in my complete trading costs. Judging commissions without taking spreads into account is close to pointless. So let's talk about spreads...

My spreads are some of the tightest in the industry
----------------------------------------------------
From what I've seen from FXCM, I believe this to be true. I think the spreads are even better than the one's advertised on their website. During many London/NY sessions, I'm seeing average spreads under 0.2 pips on EUR/USD, under 0.4 pips on GBP/USD, and under 0.3 pips on USD/JPY. Of course they are higher around rollover. I can provide stats to back these figures up. In fact, anyone can collect these stats for themselves if they have the desire to do so. For my strategy, yes I think these spreads can be classified as "tight". When combined with the commissions, these trading costs work for me.

I get super-fast executions
----------------------------
Yes, I collect statistics for the number of milliseconds from the time an order is submitted until the time I get confirmation that it has been completely filled. When using FXCM and working from a VPS with about 2 ms of latency to the trading servers, the execution speeds are indeed "super-fast" for my strategy. I don't consider myself a scalper...although I do more short term trades than long. Once again I can provide stats to back this up...or the non-lazy traders out there can collect these stats for themselves. I can only go by what I have experienced in my trading history.

When I send an email to their technical staff, I get responses in a matter of minutes.
--------------------------------------------------------------------------------------
Last two emails have been responded to in 4 minutes and 6 minutes.

Deposits/withdrawals are completed very quickly.
-------------------------------------------------
I do not have statistics to back up this statement. All I know is that FXCM has responded to withdrawal requests within a few hours...the funds in my bank account the next day. I think that qualifies for "very quick". Deposits are a little more difficult to track. It is hard to determine when a wire gets from my bank to FXCM and when they get around to "processing" it. Again, I don't know what the industry average is...but I do think the entire process of withdrawing/depositing money is handled efficiently and "very quickly".

I can hedge my trades and I can open/close trades in any order I want.
----------------------------------------------------------------------
Yes, this is true. There has been a ton written about this on this forum. Do a search. Get out an Excel Spreadsheet and do the math. I don't see any adjectives/adverbs here, so I'll leave this topic to your own investigation.

I can pick up the phone and speak to MY account rep (yes, a live English-speaking person) in a matter of seconds
----------------------------------------------------------------------------------------------------------------
Again, this is true. I call, they answer. It is as simple as that.

I can't fund my account with a credit card, but why in the world would I want to
--------------------------------------------------------------------------------
No further comment needed.

I don't have to use MT4...I can use any number of other mechanisms that are more reliable.
-------------------------------------------------------------------------------------------
I guess "more reliable" is certainly up to interpretation. However, as someone with some software development experience, I can stand by this statement. Which is why I don't use MT4 for transactions. As with everything else, it is up to the individual trader to pick the best solution for their system. All I know is that lots of traders complain about MT4 but continue to use it. Very confusing given the number of alternatives out there. Most people simply don't want to put in the time to learn something new. That's a shame.

I don't have to worry about my money going to some unregulated offshore broker
------------------------------------------------------------------------------
Not sure what else to say about this. I feel safer keeping my funds with a domestic regulated broker. Some people prefer to send their funds to brokers all around the world. I choose not to. Again, an individual decision.

I have plenty of leverage for my needs
---------------------------------------
My Usable Margin Percentage generally doesn't drop below 75%. I believe the lowest I've ever experienced was around 63% during some wild action. I usually average around 85%. So yes, I have "plenty" of leverage for my needs.

Yes, I wish my funds were segregated/insured
--------------------------------------------
Not much more to say here. I think everyone can agree on this.

Yes, there is a degree of worry about the future of the company.
------------------------------------------------------------------
Before January 15th, 2015, I would put my level of comfort regarding the safety of my funds with FXCM around 8 or 9 (1-10 scale with 10 being very comfortable). That is obviously lower now...maybe a 5 or so (it was about a 2 on January 17th). I do believe FXCM will continue for many years to come. There very well may be "safer" brokers at this time. As any diligent trader should do, I will continue to monitor the situation and re-evaluate as new information comes available. However, my choice of broker will continue to be based upon many, many factors. Some brokers will excel in certain areas, other brokers in other areas. But it is important to me to make my choice based upon a combination of all factors.

Back to being a mostly passive, incompetent observer....
  • #7,224
  • Feb 28, 2015 11:05pm Feb 28, 2015 11:05pm
I now truly understand that FXCM is not "obliged" to help any of their member's close trades even when a stop-loss is used. It was an expensive lesson (an initial -35 PIP risk ending up as a -1700 PIP loss) about risk in the retail FX market.

"FXCM’s Best Bid/Offer price updates in EUR/CHF were suspended for a window following the SNB announcement, and no orders in EUR/CHF were executed during that time. Given the extreme lack of liquidity and exceptionally volatile market conditions, both pricing and execution were suppressed until the market stabilized and liquidity returned to acceptable levels."

I closed my account with FXCM and found a company that commits to executing their member's stop-losses during their own office hours.

This is the difference between companies that say they will go the extra mile for their members, and those who are actually willing to go the extra mile.
  • #7,225
  • Edited 2:55am Mar 1, 2015 2:38am | Edited 2:55am
Such a debate going here. All I can say is I'm glad to be free of them. My "experience" with them doesn't reflect the supporters in this thread at all. Wish it had. All I can say is after 7-3/4 years having the same br0ker and yes, using MT4, I never had any complaints at all. No platform freezes (until about a month before the transfer), maybe half a dozen or less off quotes over all those years and money in/out in less than 24 hours. (Not that there was any issue getting money IN with these folks) .. lol

The DAY this outfit took them over? Everything changed. Nothing but ALL of those issues above and in a truly frightening amount. Platform freezes everyday especially around news events. The bigger the event, the longer the freeze. (Had an FOMC that lasted OVER AN HOUR) Off quotes? My God if I pressed the button that many times in normal trading and actually got in I'd accuse myself of over trading. WAY over trading. Anywhere from 3 to 7 (or more) tries on almost EVERY market order to get a position on the board? And yes, the Max Deviation? <----- ... set to THIRTY PIPS!! (That's a setting of 300 for those who don't know ) My previous br0ker didn't even have that option enabled. (Guess they didn't need plausible deniability?) ... lol

I find it interesting that way back in the beginning, these folks were among the first scratched off my list of potential br0kers for all those reasons (and more) and then when I actually had to deal with them, ALL my reasons were justified instantly. But still, I was patient and gave them a chance. The fact that they obviously can't run a proper business risk model (SNB mess) was simply icing on an already very bad tasting cake.

I find it even more interesting that "most" of these heavy supporters are either brand new members or, been here a while with really no posts to speak of. The latter being what we here at FF call "sleepers".

zznbrm would be one of the very few exceptions and perhaps that member's experience has been vastly different than mine. I can attest to the FACT that smaller depositors ARE treated completely different than larger ones (both from the states) AND placed on different servers. Hmmmmm ... I wonder why? LOL

A very good friend of mine here and a larger depositor than I was using exactly the same br0ker as me and yes, also MT4 before the take over. Still using MT4 they've had none of the issues I had after the br0ker transfer. We discussed it at length (trying to give FXBS the benefit of the doubt) to see if it was in ANY way a fault at my end with equipment. Even though I already KNEW it wasn't simply because, well? Nothing at my end changed but the br0ker. Curious ... no?

I guess we can add to that the fact that I have NONE of those issues with a differnet one now. Again, the only change? The br0ker.

So I will neither bash nor support them. Those are simply the "facts" in my "Experience" with them.

Also of interest is the way FF suddenly made this thread "vanish" from the homepage whenever a new post is made "right after these folks went belly up" and this "new" controversy began. I've always known that FXBS is the largest paying advertiser here but I now "suspect" it goes MUCH deeper than that.

Anyway, I'm simply glad to be free of them. Good "luck" to anyone using them. Like I do for my friend here, I wish nothing but the best for you all.

EDIT: And oh, I won't bother trying to justify these comments as the history of them here on FF are already in writing across several threads including of course, this one and my own. Let the bashing of me begin. LOL
Ghost Rider - WWTBMD?
  • #7,226
  • Mar 1, 2015 8:13am Mar 1, 2015 8:13am
I'm thinking of making a larger deposit but I'm not sure if I should stay with FXCM. There aren't really any other choices for me except Oanda. Is it still relatively safe to go with fxcm again? In a worst case scenario of bankruptcy, what is the likelihood of getting your deposit back? I would appreciate some info from those more well-informed in these matters. Thank you
  • #7,227
  • Mar 1, 2015 12:50pm Mar 1, 2015 12:50pm
Quoting albchr
Such a debate going here. All I can say is I'm glad to be free of them. My "experience" with them doesn't reflect the supporters in this thread at all. Wish it had. All I can say is after 7-3/4 years having the same br0ker and yes, using MT4, I never had any complaints at all. No platform freezes (until about a month before the transfer), maybe half a dozen or less off quotes over all those years and money in/out in less than 24 hours. (Not that there was any issue getting money IN with these folks) .. lol The DAY this outfit took them over? Everything...
who you trading with now, i think FXCM has the lowest spreads then any other retail broker in the u.s., i don't use MT4 platform so don't know about the freezes
  • #7,228
  • Mar 1, 2015 5:52pm Mar 1, 2015 5:52pm
As per my title I am just learning and using demo on FXCM. I have experienced some strange issues with trades being closed by the system that had no stops and trades closed when the market is closed, tonight at 8.27pm GMT when the market is closed for weekend. Can anybody advise their experience on FXCM and if they have strange things happen.
  • #7,229
  • Edited 2:24am Mar 2, 2015 2:08am | Edited 2:24am
Quoting zznbrm
{quote} My live trading is my business, no one else's. I don't participate in this forum to gain anyone's approval or to see how many people think I'm smart or to get some measure of my competency. I'm here to learn a few things and hopefully help a few folks along the way. I think I have done that. My perceived IQ is irrelevant to me. The number of subscribers I have is certainly of no consequence to me. Now it seems there are members of this forum who are here for very different reasons. Some people post thousands and thousands of times. They...
"My live trading is my business, no one else's"

zznbrm,

The tone of your entire rant is of a person that puts himself apart from most others.

That is exactly why your posts are meaningless.

You don't use MT4, yet all the problems being discussed are regarding MT4. This is just a sampling of why you are irrelevant here. Furthermore, you obfuscate issues. Take hedging for example. It is clear that we are talking about being able to have on the same pair, in the same account, both side trades open. Yet you obfuscate with references to hedging being a non-issue. You don't elaborate, but the fact is you are referring to machinations requiring different pairs and or different accounts, which is not what we are talking about, now is it? No it is not. Same with FIFO. We are talking about in a single account, being able to close orders on a pair in any sequence desired. FXCM does not allow that. Period. And then there is the issue of spreads. FXCM does not have the tightest spreads. Maybe of the NYC brokers they do. But not of all the brokers. No they do not! Furthermore, what is the sense of touting spreads without also contemplating commissions? They are two birds of a feather. FXCM won't even disclose their commissions in MT4! Nor their swaps! When you consider spread, commissions and swaps, the FXCM picture gets fuzzier and fuzzier. FXCM makes a big deal of their spreads. Just look at their ads on FF! They do not make a big advertising deal of the total cost package to traders! Nor of the trader's visibility of those total costs within their MT4 platform! The theme here is that FXCM is saying "Look at what I do for you, not at what I don't do for you." which is easy since there is a lot less of the former than of the latter.

So you are a cheerleader for FXCM. Fine. Go for it. Your act here might be fun to watch, but it is meaningless so far as how the game is being played.

-tah
  • #7,230
  • Mar 2, 2015 4:17am Mar 2, 2015 4:17am
maybe it's time you mt4 users to grow up and move on from it, i know it's simple but hey you can always get smarter
  • #7,231
  • Mar 2, 2015 8:31am Mar 2, 2015 8:31am
Quoting william17
{quote} You sound a lot like representative of FXCM but does not really matter. Let me go over some of the things you said. "Unlike many gamblers out there most smart and experienced Fx traders knew it was just about to happen, it wasnt if but when. So people who complain they lost money because of their own idiocy nothing to do with the broker.So when you make money you dont share your gains with your broker but when you lose you want your broker to pick up the tab, yea sure. " THe irony here is unbelievable. You do realize that FXCM are using...
Very well said and right on the money!
  • #7,232
  • Mar 2, 2015 9:35am Mar 2, 2015 9:35am
Quoting albchr
Such a debate going here. All I can say is I'm glad to be free of them. My "experience" with them doesn't reflect the supporters in this thread at all. Wish it had. All I can say is after 7-3/4 years having the same br0ker and yes, using MT4, I never had any complaints at all. No platform freezes (until about a month before the transfer), maybe half a dozen or less off quotes over all those years and money in/out in less than 24 hours. (Not that there was any issue getting money IN with these folks) .. lol The DAY this outfit took them over? Everything...
Well said!
"I find it even more interesting that "most" of these heavy supporters are either brand new members or, been here a while with really no posts to speak of."
It looks like FXCM wants to own this thread by bringing all these fake members. I've seen many brokers trying to own threads throughout the years. They always follow the same pattern, first first insult the traders who state the facts, then ask to clean up the thread and finally the advertising begins. The good news is that Forex Factory eventually discovers all those fake accounts and closes them.
Thanks for real long time traders like ProfitDaily, Traderathome and many others who keep this forum going and bringing facts in to the light!
  • #7,233
  • Mar 2, 2015 12:30pm Mar 2, 2015 12:30pm
Quoting 4xtom
{quote} Well said! "I find it even more interesting that "most" of these heavy supporters are either brand new members or, been here a while with really no posts to speak of." It looks like FXCM wants to own this thread by bringing all these fake members. I've seen many brokers trying to own threads throughout the years. They always follow the same pattern, first first insult the traders who state the facts, then ask to clean up the thread and finally the advertising begins. The good news is that Forex Factory eventually discovers all those fake...
have you ever read swift's conjuration of imbeciles?
cause this is how your intervention sounds like.
you defend the forum (and get your share of conspiracy about brokers manipulating threads) but don't give a fk about people actually using this forum or using this thread.
you know what i just realized? you just gave me the reason to get out of ff!
i can chat/phone with any broker that i use. i can get the calendar from somewhere else.
and i can avoid toxic waste like your comments!
so good luck with your crap! keep it going! you're good at it!
  • #7,234
  • Mar 2, 2015 3:52pm Mar 2, 2015 3:52pm
Quoting traderathome
The tone of your entire rant is of a person that puts himself apart from most others. That is exactly why your posts are meaningless. You don't use MT4, yet all the problems being discussed are regarding MT4. This is just a sampling of why you are irrelevant here.
No rant from me. I'm not here to prove anything to anyone. My trading continues to meet my expectations...the family is healthy...life is good. Being meaningless and irrelevant on this forum is not something that will keep me up at night.

Quote
Furthermore, you obfuscate issues. Take hedging for example. It is clear that we are talking about being able to have on the same pair, in the same account, both side trades open. Yet you obfuscate with references to hedging being a non-issue. You don't elaborate, but the fact is you are referring to machinations requiring different pairs and or different accounts, which is not what we are talking about, now is it? No it is not. Same with FIFO. We are talking about in a single account, being able to close orders on a pair in any sequence desired....

Yes, one can use multiple accounts or different pairs to get around the hedging restrictions. But I'm not talking about that. I'm talking a single pair on a single account. All you need to do is create "two sets of books" in a way. You should investigate how CitiFx gets around the FIFO/Hedging restrictions. My solution is very similar...I allow the broker to handle the back office accounting while I have a "second set of books" in which I do all my trading. The equity of each set of books is exactly the same. I've been using this method for several years now. Yes, it makes the Hedging/FIFO restrictions a non-issue. I'm sure it could even be done using MT4. I don't know what else I can say about it.

Quote
And then there is the issue of spreads. FXCM does not have the tightest spreads. Maybe of the NYC brokers they do. But not of all the brokers. No they do not!

I never said they have the tightest spreads. I said they have some of the tightest spreads. Don't you see the difference in those two statements? I'm sure there are brokers out there with better spreads. However I think FXCM ranks near the top. I'd say in the top 10%. To me, that means "some of the tightest spreads".

Where are all those facts you love to talk about? I'll attach a report on the hourly average spreads for EUR/USD today with FXCM. I'm curious which brokers had lower spreads. I will reiterate, I'm sure there are brokers with lower spreads. You say you always state facts...now is your chance to back that up.

Quote
Furthermore, what is the sense of touting spreads without also contemplating commissions? They are two birds of a feather.

Which is probably why I said this in my last post "Then again I'm a little more interested in my complete trading costs. Judging commissions without taking spreads into account is close to pointless. So let's talk about spreads..."

Quote
FXCM won't even disclose their commissions in MT4! Nor their swaps! When you consider spread, commissions and swaps, the FXCM picture gets fuzzier and fuzzier. FXCM makes a big deal of their spreads. Just look at their ads on FF! They do not make a big advertising deal of the total cost package to traders! Nor of the trader's visibility of those total costs within their MT4 platform!

More complaining about MT4. It never ends with you. Wouldn't it be cool if there was other trading software you could use?

Yes, it's called advertising. Companies emphasis the best parts of your business. Diligent traders should know how to compute their total trading costs.

Quote
So you are a cheerleader for FXCM. Fine. Go for it. Your act here might be fun to watch, but it is meaningless so far as how the game is being played.

Nope...just stating my opinion. At some point FXCM might not be the best solution for me and I'll move on. But for now, they are.
Attached Image
  • #7,235
  • Mar 2, 2015 4:28pm Mar 2, 2015 4:28pm
Quoting ExpertFxMan
I used many brokers on my past 13 years of Forex trading and I must say FXCM still has the best platform and service out there, plus great customer support always there when you need it. I wanna thank you Jason for that.
Quoting william17
You sound a lot like representative of FXCM
Quoting 4xtom
"I find it even more interesting that "most" of these heavy supporters are either brand new members or, been here a while with really no posts to speak of." It looks like FXCM wants to own this thread by bringing all these fake members.
This seems to be the typical rebuttal of anyone who has a positive experience with FXCM. However, it ignores the fact that the same could be said of negative comments from people who "are either brand new members or, been here a while with really no posts to speak of", or those who try to promote other brokers in this thread.

Quoting 4xtom
I've seen many brokers trying to own threads throughout the years. They always follow the same pattern, first first insult the traders who state the facts, then ask to clean up the thread and finally the advertising begins. The good news is that Forex Factory eventually discovers all those fake accounts and closes them. Thanks for real long time traders like ProfitDaily, Traderathome and many others who keep this forum going and bringing facts in to the light!
I won't speak for other brokers, but we clearly identify ourselves as FXCM whenever posting on the forum in compliance with US regulations. We do not have FXCM representatives pretending not to be. It isn't necessary. There are 223,079 tradable retail accounts with FXCM who traded $450 billion in volume according to the latest publicly available monthly metrics.

Its thanks to these clients that we have won numerous industry accolades including Investment Trends awards for Largest Forex Provider, Overall Client Satisfaction and Online Education Materials. For this reason, I would like to thank our clients who have highlighted their positive experiences with us to bring some balance to recent discussions. It's worth noting that this includes high impact forum members who rank in the top 1% of all contributors.

Quoting zznbrm
I'm with FXCM and they have treated me just fine. I've very rarely seen random price spikes. And if I did and it impacted my trades, I feel very good that FXCM would investigate the issue and fix any problems. My platform never freezes...I've never seen an "off quotes" message My commissions are quite reasonable My spreads are some of the tightest in the industry I get super-fast executions When I send an email to their technical staff, I get responses in a matter of minutes. Deposits/withdrawals are completed very quickly. I can...
  • #7,236
  • Mar 2, 2015 4:49pm Mar 2, 2015 4:49pm
Quoting heph
i'm irritated because jason doesn't moderate this thread.
Hi Heph, unfortunately, I'm not a forum moderator (if only ). Forex Factory moderates these forums themselves. However, you make a good point about recent off topic posts.

To Everyone: if you have comments whether positive or negative about me or FXCM, please feel free to post them here, but as a courtesy to your fellow forum members, if you have general comments about US regulations or questions about other brokers, please post them in the relevant thread instead. With your help this thread will remain the most popular in the broker discussion forum.

Thanks
  • #7,237
  • Mar 2, 2015 5:19pm Mar 2, 2015 5:19pm
Quoting justlearning
As per my title I am just learning and using demo on FXCM. I have experienced some strange issues with trades being closed by the system that had no stops and trades closed when the market is closed, tonight at 8.27pm GMT when the market is closed for weekend. Can anybody advise their experience on FXCM and if they have strange things happen.
Hi Justlearning,

Welcome to the forum!

You mentioned this is a demo account. Can you click on the Report button on your Trading Station and generate a report for the day in question? Please post a screenshot of that report showing the Closed Positions section. In particular, we need to see what it says in the Condition column. That will tell us why your demo trade was closed.

Thanks,
Jason
  • #7,238
  • Mar 2, 2015 5:49pm Mar 2, 2015 5:49pm
The condition column says Mkt S for this . This was yesterday evening 8.27pm gmt when the markets were closed.

I was wondering what Mkt L. Mkt S, Mkt C and Mkt S(t) meant, maybe you can explain them?

I have reported this to the agent and they advised a level 2 agent will look into it directly and get back to me, so I am waiting to find out.

When I am here can you advise why one buy order I placed the executed was higher than highest tip of the candle in which the order was place.

There have been a number of curiosities that make me wonder, and wondering isn't the best when you want to place significant cash.

Looking through the different threads on the brokerage sub-forum on FF I can't seem to identify one broker who doesn't get bad press from various posters.

Just read a scary one about another main player broker about spreads widening by hundreds of pips and taking out people's stops. I am starting think this fx is minefield wherever you look.
  • #7,239
  • Mar 2, 2015 10:21pm Mar 2, 2015 10:21pm
Quoting traderathome
Take hedging for example. It is clear that we are talking about being able to have on the same pair, in the same account, both side trades open. Same with FIFO. We are talking about in a single account, being able to close orders on a pair in any sequence desired. FXCM does not allow that. Period.
I'm with FXCM AU and don't have any hedging/FIFO issues, that's only for FXCM US and not all of FXCM as implied, but I'm sure you were talking about U.S. traders only...

Quoting traderathome
Furthermore, what is the sense of touting spreads without also contemplating commissions? They are two birds of a feather. FXCM won't even disclose their commissions in MT4! Nor their swaps! When you consider spread, commissions and swaps, the FXCM picture gets fuzzier and fuzzier. FXCM makes a big deal of their spreads. Just look at their ads on FF! They do not make a big advertising deal of the total cost package to traders! Nor of the trader's visibility of those total costs within their MT4 platform!...
I'll take a big leap here and take a wild guess that you don't have a live MT4 account with FXCM (raw spread commission based account). If you did you would know that commissions and rollovers/swaps are clearly and easily shown under the MT4 "Account History" tab. It's not rocket science and I trade five MT4 FXCM accounts so it's definitely useful to know such info.

Said info is shown as follows per order:

Commission - Order Number
Rollover - Order Number

I'm not here to pick sides and I don't care to waste time for such, I'm simply stating a correction. But I will say that in all these years of trading I haven't come across a broker that hasn't somehow wronged some trader(s). Perfect brokers don't exist, anyone that states otherwise clearly has a dubious agenda, all trading involves risks. So as the beaten to death saying goes "Don't trade with money you can't afford to lose" applies to all...
  • #7,240
  • Mar 2, 2015 10:53pm Mar 2, 2015 10:53pm
Quoting Jason Rogers
To Everyone: if you have comments whether positive or negative about me or FXCM, please feel free to post them here, but as a courtesy to your fellow forum members, if you have general comments about US regulations or questions about other brokers, please post them in the relevant thread instead. With your help this thread will remain the most popular in the broker discussion forum. Thanks
Jason, I've been forgetting to ask if the real volume indicators will ever be somehow ported over to the MT4 platform? I'm not sure if that's been asked before so I apologize if it has...
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