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  • #7,421
  • Mar 18, 2015 2:09pm Mar 18, 2015 2:09pm
Quoting Deskpro
{quote} Hi Jason How will this effect the major pairs, does it mean a trader wishing to trade EUR/USD for example can have higher leverage with a DD than if he went NDD?
Hi Deskpro,

Yes, for regions where the DD option will be offered, it can allow traders to use more leverage than is available through our NDD execution.
  • #7,422
  • Mar 18, 2015 3:02pm Mar 18, 2015 3:02pm
Quoting surferncbad
{quote} Hi Jason, So I'm trying to break down your wording. Is forex trading the same as CFD trading for NDD. Are CFD's NDD by default or DD? Specifically to CFD's, does FXCM take the other side of the trade? It makes me nervous if FXCM is making the market for CFD products and taking the other side of my trade. As you can see there is a huge conflict there. As many of the CFD index markets are closed for extended periods of the day, a trader could potentially be caught in similar situation as the EUR/CHF trade if a major geo event happened. Just...
Hi Surferncbad,

To clarify, FXCM provides No Dealing Desk (NDD) execution for trading forex. We refer to trading in non-forex products such as metals, stock indices and energy as CFD trading (AKA contracts for difference), and this is done via DD execution.

You are correct to point out the potential conflicts of interest that can exist with DD execution. By taking the market risk on the other side of your trades, dealing desk brokers can profit from your losses or lose from your profits. While our CFD execution is DD like most of the industry, there are no re-quotes which can be a problem traders may experience with other brokers.

FXCM believes the NDD model is the most fair and transparent to provide to traders which is why we have offered NDD forex execution since 2007. That was when we were able to convince our forex liquidity providers to offset individual client orders as small as one mini lot. In 2012, we extended our NDD forex execution to include micro lot orders.

While we haven't yet been able to set up such an NDD arrangement with our CFD liquidity providers for the order sizes our clients demand (we offer micro lot CFD trading), it is a long term goal of ours to offer this in the future.
  • #7,423
  • Mar 18, 2015 3:07pm Mar 18, 2015 3:07pm
You guys don't get it, do you? No one's going to bother answering your questions or helping you with the price spikes unless your REAL money was affected by it. You people really believe anyone cares about price spikes on your demo account or price spikes in a market you aren't trading?

Stop expecting Jason to answer your questions about the price spikes. He keeps referring you to the trade inquiry form and will continue to do it because that's the extent of the representatives capacity: to direct you to trade inquiries because price spikes are irrelevant unless your real money is affected by it. It'd be bad customer service to just say "Your demo account doesn't matter, get outta here!"

What are you gonna do, wait for him to say "Yeah, we have a virtual dealer plugin that actively manipulates our price feed to run stops and take your money. OOPS, lol"?

He isn't going to say it.
He can't fix it.
He can't change it.

Either fill out a trade inquiry or get out of FXCM - pretty simple. Bottom line, if you have REAL money affected by a price spike, submit a trade inquiry, I'm sure they'll handle it from there. But this crybabying over a price spike in a demo account isn't going to get you anywhere.
  • #7,424
  • Mar 18, 2015 3:17pm Mar 18, 2015 3:17pm
Quoting Why
Hi! I used to be able to reduce my positions in Mt4. Let's say I had a short on EUR/USD for 10k. If I clicked to close the position and bought let's say 5k, the transaction took the form of a short for 5k. It seems that whatever I was doing is not available anymore. I'm forced to millipede or how people say it here on FF. Any idea?
Hello Why,

Is this on a live or demo MT4 account? The reason I ask is because with a demo, it matters which FXCM entity you used to register the account. FXCM US accounts must comply with CFTC/NFA regulations which means that hedging is prohibited. That means if you are short 10k EUR/USD and later buy 5k, then you will be left with a 5k short position.

Non-US FXCM accounts do allow hedging (though this feature can be disabled on live accounts). Therefore by default, if you are short 10k EUR/USD and later buy 5k, then these trades will not offset each other. You will be left with both a 10k short position and a 5k long position.
  • #7,425
  • Edited 4:32pm Mar 18, 2015 3:56pm | Edited 4:32pm
Quoting Jason Rogers
{quote} Hi Surferncbad, To clarify, FXCM provides No Dealing Desk (NDD) execution for trading forex. We refer to trading in non-forex products such as metals, stock indices and energy as CFD trading (AKA contracts for difference), and this is done via DD execution. You are correct to point out the potential conflicts of interest that can exist with DD execution. By taking the market risk on the other side of your trades, dealing desk brokers can profit from your losses or lose from your profits. While our CFD execution is DD like most of the industry,...
Jason,

Can you tell me why it took over ten minutes to execute a 30k order on the US30? The fill price was over 13 pips away from my entry? Is this the execution that FXCM is bragging about? Order finally filled at 16:51 at 18064. This is absolutely terrible execution. It's almost like FXCM is manipulating the market in their favor. What's going on here?

Who needs requotes when you can just hang an order for 15 minutes and fill it where ever you want?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: FXCM Trade Execution2.JPG Size: 27 KB
  • #7,426
  • Mar 18, 2015 4:16pm Mar 18, 2015 4:16pm
Quoting Jason Rogers
{quote} Hello Why, Is this on a live or demo MT4 account? The reason I ask is because with a demo, it matters which FXCM entity you used to register the account. FXCM US accounts must comply with CFTC/NFA regulations which means that hedging is prohibited. That means if you are short 10k EUR/USD and later buy 5k, then you will be left with a 5k short position. Non-US FXCM accounts do allow hedging (though this feature can be disabled on live accounts). Therefore by default, if you are short 10k EUR/USD and later buy 5k, then these trades will not...
It's a live US account and I'm pretty sure that in the past I was able to reduce my positions this way. I wasn't thinking it was a hedge (although it is) but rather that a large position was made of smaller ones and it was possible to clear some off. Thank you!
  • #7,427
  • Mar 18, 2015 4:23pm Mar 18, 2015 4:23pm
Today the Dollar Index was a spike.
I am down a lot today (biggest drawdown was 30%, now 23%, and I'm still running it) by trading EUR/USD. Added multiple shorts during the rally. FXCM executed them all and the spread was considerably normal. What are you guys talking about here?
  • #7,428
  • Mar 18, 2015 5:42pm Mar 18, 2015 5:42pm
Quoting rayzz
FXCM is a sinking ship and the management knows it. Saving their asses is what they are doing now. When you are owing $300m and cant collect negative balances, you can only sell your assets and hope that your assets are worth that much. When fxcm crashes, what's gonna happen to your money in trading account? There's only limited parachutes and people are scrambling for one. hu hu hu

As Mark Twain would have said, "The reports of my death have been greatly exaggerated."

I'll stress it here again, FXCM is not insolvent, has not filed for any form of bankruptcy, and is in compliance with all regulatory capital requirements in the jurisdictions in which we operate. Additionally, all of our regulated entities except the US 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. And for US clients, below are the latest net capital figures for US retail forex brokers as reported to the CFTC.


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

Source: Financial Data for FCMs and RFEDs



The financing we received from Leucadia has strengthened our balance sheet and gives us the opportunity to grow our core business. It was a tall order for someone outside of the FX industry to come in and write a $300 million dollar check. This was the type of thing only top management could do. But they see the sustainability of FXCM, and that was everyones end goal. We really are very thankful to them. With Leucadia, our pockets are even deeper and we arent going anywhere.

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. We've seen incredible moves in the EUR/USD following the FOMC rate decision/press conference, and retail volume at FXCM for EUR/USD has hit its highest level for a 4-hour period since at least 2010 with over 5.5 billion traded!


http://i.imgur.com/saendo7.png

Each bar measures actual trading volume during a 4-hour period and you can find this real volume indicator in FXCM's Trading Station platform.



It's widely known and understood that FXCM's core business has always been retail forex; It is the majority of our revenue. However, over the past few years, FXCM has spent over $250 million dollars making strategic acquisitions building up our non-core businesses, mainly the institutional side as we tried to diversify the firm. We are now looking to sell some of those non-core assets; But, we are not in a rush and are looking to get the highest valuations for these assets.


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

Slide from the March 13 public presentation for our Q4 2014 financials and February 2015 operating metrics.



We are considering closing or selling smaller regulated entities that require large sums of capital requirements, but that offer increasingly low return on capital. The latter move allows us to free up significant amounts of cash that is currently trapped. We believe that in the near term we can pay down a majority of the loan.
  • #7,429
  • Mar 18, 2015 5:52pm Mar 18, 2015 5:52pm
Quoting surferncbad
{quote} Jason, Can you tell me why it took over ten minutes to execute a 30k order on the US30? The fill price was over 13 pips away from my entry? Is this the execution that FXCM is bragging about? Order finally filled at 16:51 at 18064. This is absolutely terrible execution. It's almost like FXCM is manipulating the market in their favor. What's going on here? Who needs requotes when you can just hang an order for 15 minutes and fill it where ever you want? {image} {image}
Hi Surferncbad,

While I can't investigate individual trades here on the forum, the Trade Services Team exists for precisely this purpose. If you have questions about the execution of any trade on your live account, you can file a trade inquiry. The Trade Services Team can then investigate the trade for you in detail, and if there was an error in our execution that negatively impacted your trade, FXCM will make the appropriate correction to your account.
  • #7,430
  • Mar 18, 2015 6:49pm Mar 18, 2015 6:49pm
I've tried to respond twice now to Jason's recommendation to file a trade inquiry. I have two current trade inquiries that have been open for weeks and have heard nothing from FXCM other than the initial auto reply email. What good does it do to file a trade inquiry with FXCM if they never contact you. Additionally, Jason mentioned no requotes, yet my order was hanging for 15 minutes and filled 17 pips from where I placed the market order. I don't want him to comment on my trade, I want him to comment on how that happens in general. This is a thread about FXCM and if they have people censoring posts than people on FF need to know about it.
  • #7,431
  • Mar 18, 2015 6:51pm Mar 18, 2015 6:51pm
Just received the email from FXCM that margin requirements are changing again from 20th March, and that "FXCM does not anticipate that margin requirements will have to be changed more than once a month."

Oh it is also mentioned that "Monitor usable margin closely, making sure it stays above zero. We recommend a usable margin that’s at least 80% of your account equity".

Well that's fine for a month at least I guess, until the margin gets changed again.
Full-time trader and loving it!
  • #7,432
  • Mar 18, 2015 7:23pm Mar 18, 2015 7:23pm
Quoting Bilstein
You guys don't get it, do you? No one's going to bother answering your questions or helping you with the price spikes unless your REAL money was affected by it. You people really believe anyone cares about price spikes on your demo account or price spikes in a market you aren't trading? Stop expecting Jason to answer your questions about the price spikes. He keeps referring you to the trade inquiry form and will continue to do it because that's the extent of the representatives capacity: to direct you to trade inquiries because price spikes are...
Reading your post I keep seeing the word demo brought up. FYI those charts are real money charts, not demo. According to you "price spikes are irrelevant unless your real money is affected by it." Wow, a little speechless on that one. You must be a New England Patriot fan. If your not cheating, your not trying hard enough. Spygate, deflategate, whatever it takes right? What we have here is a little spikegate, but hey if you weren't in the trade with a spike just let it go right, who cares about the other guy who was in that trade and didn't realize that he is getting screwed. That's some real ethical shit right there! But hey let FXCM spikegate until it happens to you. Also to quote you; "But this crybabying over a price spike in a demo account isn't going to get you anywhere." Here's that demo bs again. Cry babying? This is America right? My 1st amendment is right to free speech. If I choose to make other traders aware who the hell are you to tell me I can't!
“Every single day, ordinary people do extraordinary things"
  • #7,433
  • Mar 18, 2015 10:32pm Mar 18, 2015 10:32pm
Quoting Why
{quote} It's a live US account and I'm pretty sure that in the past I was able to reduce my positions this way. I wasn't thinking it was a hedge (although it is) but rather that a large position was made of smaller ones and it was possible to clear some off. Thank you!
Click on tools then go to options and untick one click trading click OK. Now when you click close on your order it will allow you to close only part of the order if you wish. You can try it on demo first if you wish
  • #7,434
  • Mar 19, 2015 1:41am Mar 19, 2015 1:41am
Jason ,
When I set up the demo platform I always click on FXCM-USDDemo01 account but it is somehow automatically goes to FXCM-AUDDemo01 I can not control this. .Maybe this is the reason get invalid account warning.How can I stop the platform switching to FXCM-AUDDemo01 ?Thanks.
  • #7,435
  • Mar 19, 2015 3:45pm Mar 19, 2015 3:45pm
Now spiking in CFDs, too?

A really nice 100P spike down in US30 which costed me this time ... Live as well as demo.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_052.jpg Size: 324 KB


Trade inquiry ... i'm coming ...
  • #7,436
  • Mar 19, 2015 3:49pm Mar 19, 2015 3:49pm
What's funny is, I've been getting spam email from FXCM about becoming a "client" I think Jason might be looking for a new job. Its the titanic. Coming to the office now days must be grim.
There are those who know, and there are those who don't know.
  • #7,437
  • Mar 19, 2015 5:17pm Mar 19, 2015 5:17pm
.... Apparently FXCM is so desperate for cheerleaders they can't even find any with unique IP addresses anymore ....

This clown didn't last long.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 56 KB
Ghost Rider - WWTBMD?
  • #7,438
  • Mar 19, 2015 8:21pm Mar 19, 2015 8:21pm
Quoting Digitalis
Just received the email from FXCM that margin requirements are changing again from 20th March, and that "FXCM does not anticipate that margin requirements will have to be changed more than once a month." Oh it is also mentioned that "Monitor usable margin closely, making sure it stays above zero. We recommend a usable margin thats at least 80% of your account equity". Well that's fine for a month at least I guess, until the margin gets changed again.
Hi Digitalis,

To clarify, the change to margin requirements this weekend is not like the margin change that took place in January after the SNB announcement. The margin change in January increased margin requirements across to board resulting in a reduction of available leverage. By contrast, the upcoming margin change simply accounts for the fact that, over the past few months, the US dollar has increased in strength versus many currencies, while the Euro has decreased in strength.

That means traders with US dollar denominated accounts will see their margin requirements for many pairs decrease in US dollar terms, while traders with Euro denominated trading accounts will see their margin requirements for many pairs increase due to the lower value of the Euro. Since you live in the UK, you will see your margin requirements for some pairs decrease, while the margin requirements for other pairs will increase. This link shows the latest margin requirements for each currency that will go in effect this weekend: http://www.dailyfx.com/forex_forum/f...ml#post2109405
  • #7,439
  • Mar 19, 2015 8:24pm Mar 19, 2015 8:24pm
Quoting Why
{quote} It's a live US account and I'm pretty sure that in the past I was able to reduce my positions this way. I wasn't thinking it was a hedge (although it is) but rather that a large position was made of smaller ones and it was possible to clear some off. Thank you!
Quoting BirminghamUK
{quote} Click on tools then go to options and untick one click trading click OK. Now when you click close on your order it will allow you to close only part of the order if you wish. You can try it on demo first if you wish
Thanks for offering this solution, BirminghamUK

@Why, please let me know if changing the one-click trading settings on your MT4 platform does not resolve this issue.
  • #7,440
  • Mar 19, 2015 8:31pm Mar 19, 2015 8:31pm
Quoting olsen-yersen
Jason , When I set up the demo platform I always click on FXCM-USDDemo01 account but it is somehow automatically goes to FXCM-AUDDemo01 I can not control this. .Maybe this is the reason get invalid account warning.How can I stop the platform switching to FXCM-AUDDemo01 ?Thanks.
Hi Olsen-Yersen,

I've never encountered such an issue before this. Here is link to our FXCM UK MT4 demo registration page: http://bit.ly/1hsrI1N

That page doesn't even list AUD as an option. Try signing up for a USD demo account from there and please let me know if you still have issues with it switching to AUD.

Thanks,
Jason
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