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  • #7,941
  • Aug 12, 2015 8:42pm Aug 12, 2015 8:42pm
Quoting skuwait
{quote} you know what it mean by variable spread? at peak time of the market , you will get screwed as the spread will show a variation of even 3 to 4 pips.. i guess in that case i am lucky . i am trading with 1.5 pips net and any move above 1.5 pip is profit .there is no swap too....thank god in middle east charging interest rate is taboo.
my case is different as FXCM claimed that the UK and AUS account get a different quote and spread. Funny to be honest. They always advertise the super low spread on the website but not available to me and other small trader. In this case, they claimed a lower spread at UK side.
Take my view with a pinch of salt!
  • #7,942
  • Aug 12, 2015 8:49pm Aug 12, 2015 8:49pm
Quoting Jason Rogers
{quote} Hi anudora, Yes, the account update will allow you to trade with a lower spread than what you see in your existing account. Could this apply to Australia accounts in the future? I guess anything is possible but I dont know of any plans at the moment which is why were giving the option to transfer. There is no balance requirement or trading volume requirement in order to take advantage of the reduced spreads when you transfer to FXCM UK. Jason
How much low is the spread since it is a variable spread? Now i am getting 2.4 pips spread on EURUSD most of the time.
I don't think I can get the low spread advertise in FXCM website or in Forex Factory brokers page but if I can get 1.6 pips. Then maybe I will give it a try.
But I cannot imagine that there are 3 different type of spread overall in FXCM; FXCM AUS spread, FXCM UK spread and the 0.5 super low spread for large account.
Take my view with a pinch of salt!
  • #7,943
  • Aug 12, 2015 9:01pm Aug 12, 2015 9:01pm
i like to see a broker weather the storm and that's what FXCM has done, there making moves to better and expand there business, good job FXCM
  • #7,944
  • Aug 13, 2015 2:57pm Aug 13, 2015 2:57pm
Hey Jason , How come FXCM shares trading under a dollar and your company's CEO and management doesn't come up and say something?
I heard there might be SEC investigation of FXCM board of directors for illegal insider trading, is that true?
They say Yusupov,Romersa and Brown sold millions of share on insider information.
You keep saying company will not bankrupt but FXCM shares trading around bankruptcy levels, 0.90 cents.
  • #7,945
  • Aug 13, 2015 5:34pm Aug 13, 2015 5:34pm
Quoting katorse534
Hey Jason , How come FXCM shares trading under a dollar and your company's CEO and management doesn't come up and say something? I heard there might be SEC investigation of FXCM board of directors for illegal insider trading, is that true? They say Yusupov,Romersa and Brown sold millions of share on insider information. You keep saying company will not bankrupt but FXCM shares trading around bankruptcy levels, 0.90 cents.
Hi Katorse,

The stock price is a reflection of shareholder value as a result of the loan FXCM received from Leucadia in January. As our CEO Drew Niv mentioned during last week's earnings call, our plan is to pay back that loan by the end of the year, and we have outlined certain asset sales to accomplish this: http://i.imgur.com/DTfLu3b.jpg

Also, it's important to note that despite the events of January 15th, our capitalization remains at levels similar to before the SNB event: http://bit.ly/10Pq5FJ

While I'm not authorized to comment on our stock price beyond that, you're welcome to contact our Investor Relations department with any related questions: http://bit.ly/1SEYg7W
  • #7,946
  • Aug 13, 2015 5:45pm Aug 13, 2015 5:45pm
Quoting anudora
{quote} my case is different as FXCM claimed that the UK and AUS account get a different quote and spread. Funny to be honest. They always advertise the super low spread on the website but not available to me and other small trader. In this case, they claimed a lower spread at UK side.
Quoting anudora
{quote} How much low is the spread since it is a variable spread? Now i am getting 2.4 pips spread on EURUSD most of the time. I don't think I can get the low spread advertise in FXCM website or in Forex Factory brokers page but if I can get 1.6 pips. Then maybe I will give it a try. But I cannot imagine that there are 3 different type of spread overall in FXCM; FXCM AUS spread, FXCM UK spread and the 0.5 super low spread for large account.
Hi Anudora,

Your forum profile mentions you live in Malaysia. From what you've described, I'm guessing your trading account used to be with IBFX as was later acquired by FXCM. If that's the case, then when your account was transferred to FXCM Australia, you were set up on pricing comparable to what you already had at IBFX. We are now offering you access to the same pricing that is available to other FXCM clients.

Another advantage of switching your account to FXCM UK as part of this process is that funds with our UK-regulated entity are insured for up to £50,000 per client by the Financial Services Compensation Scheme.
  • #7,947
  • Aug 14, 2015 3:01am Aug 14, 2015 3:01am
Quoting Jason Rogers
{quote} {quote} Hi Anudora, Your forum profile mentions you live in Malaysia. From what you've described, I'm guessing your trading account used to be with IBFX as was later acquired by FXCM. If that's the case, then when your account was transferred to FXCM Australia, you were set up on pricing comparable to what you already had at IBFX. We are now offering you access to the same pricing that is available to other FXCM clients. Another advantage of switching your account to FXCM UK as part of this process is that funds with our UK-regulated entity...
Yes, used to trade with IBFX.
Ok, if that is the case, I would like to try FXCM UK. Thanks for the reply.
Take my view with a pinch of salt!
  • #7,948
  • Aug 14, 2015 3:43pm Aug 14, 2015 3:43pm
Quoting Jason Rogers
{quote} {quote} Hi Anudora, Your forum profile mentions you live in Malaysia. From what you've described, I'm guessing your trading account used to be with IBFX as was later acquired by FXCM. If that's the case, then when your account was transferred to FXCM Australia, you were set up on pricing comparable to what you already had at IBFX. We are now offering you access to the same pricing that is available to other FXCM clients. Another advantage of switching your account to FXCM UK as part of this process is that funds with our UK-regulated entity...
Hello Jason, is your Chinese entity fxcm-chinese.com regulated? And is the fund insured like your UK firm? If not, can a Chinese resident open an account with your UK-regulated entity? Thanks!
  • #7,949
  • Aug 17, 2015 4:50am Aug 17, 2015 4:50am
Hi Jason

What is the minimum deposit ?FXCM website says 200O USD?When did it go up from 1000USD to 2000?
  • #7,950
  • Aug 17, 2015 10:56am Aug 17, 2015 10:56am
Quoting dodoei
{quote} Hello Jason, is your Chinese entity fxcm-chinese.com regulated? And is the fund insured like your UK firm? If not, can a Chinese resident open an account with your UK-regulated entity? Thanks!
Hi Dodoei, the FXCM-Chinese.com website exists to provide information about our products and services to Chinese speakers. If you apply for an FXCM account through that website, then it will be set up under our UK-regulated entity. That means your funds are insured for up to £50,000 by the Financial Services Compensation Scheme.
  • #7,951
  • Aug 17, 2015 12:50pm Aug 17, 2015 12:50pm
Quoting orabi
{quote} I used this email [email protected] have a nice day please
Hi Orabi, I just noticed your forum profile mentions that you live in Sudan. Regulations prohibit us from offering trading services to residents of Sudan.
  • #7,952
  • Edited 3:56am Aug 18, 2015 3:41am | Edited 3:56am
2015 1H numbers are out - FXCM losses surge from $426.8M in May, to over $500M at the end of June. To put that in perspective, their Q4 earnings in 2014 were $2.1M.

Couple that with the $300M loan they owe to Leucadia AND THE INTEREST, and you heading out to $1BN in debt.


The solution:

FXCM Markets (Unregulated arm of FXCM Inc.) goes "ponzi style" offering micro accounts on 400x leverage and 2.5% interest for accounts over $50k in size.

So FXCM Inc. is losing huge amounts of money every single day, yet they promise 2.5% interest to newcomers' money on their UNREGULATED arm. This is something Charles Ponzi could only have dreamt of .

Since they are unregulated, they can offer ponzi-style claims. How can FXCM serve interest to clients when it is not engaged in ANY profitable activity? That's right - by paying old investors from new investors money.

Who is insane enough to deposit $50K with a UNREGULATED institution, surely deserves to be scammed.

The problem with Ponzi schemes is that - you can never ever taper a Ponzi scheme.
Best regards, Zef
  • #7,953
  • Aug 18, 2015 4:21am Aug 18, 2015 4:21am
The spread on FXCM is about 0.3 to 0.4 on EURUSD in calm market conditions most of the time ... This morning it was ...just until the very top of a spike up ..and than in a split second it became 1.2 pips ... holalaaa . Interesting ! Does FXCM has a crystal boll to see where the very top of the spike will be ? That little nearly unnoticeable, seemingly unimportant blib ... messed totally up my strategy ...
How you lose money while your Back test is showing good results ? In other words "what are the tricks in the MT4 book" ?
1) MT4 BT uses pre-calculated steps in stead of the real ticks, so all testing with trailing stops are in vain.
2) Even if you download history data with the FXCM hist downloader ...even the 1 min bars are different from the real 1 min bars form their live feed, for the same period.
3) Back testing in MT4 is with a fixed spread and in reality our beloved FXCM has spread spikes. Nearly never ... but only when it hurts ?
4) To make the mess even bigger the FXCM MT4 platform shows the wrong spread (distance between ask and bid lines). How does this affects your BT results ? Just in case you thought that FXCM is doing it's best to help you out !
So how to have any idea what you are doing ... if you can not check your strategy with data from the past ? And because FXCM (and any other MT4 broker) are knowingly letting the customer in the delusion that he can test his strategy, while Metaquotes knows very well that the results are very inaccurate, because of the above reasons ... what are we doing here with our money ?
Attached Image (click to enlarge)
Click to Enlarge Name: FXCM spread spike.jpg Size: 74 KB
  • #7,954
  • Aug 18, 2015 9:13am Aug 18, 2015 9:13am
@Jason could you please comment on the issues stated before?
FXCM Inc. has $300M in liabilities as cash loan plus interest (min 20%). Also reported losses of $500M to your holders in H1 of 2015. Simple logic says if you don't own $1BN in assets that can be executed, you are technically insolvent. You claim to be multi billion dollar institution. What is exactly collateralizing you as institution?
Its impossible for FXCM to raise more debt via shares(99%down). For sure there's no bank on the planet which will loan the $ you need to pay your previous loans, because of your lack of assets. If any clerk will issue debt to a company with $1bn in unserviced debt and zero assets, he will be sent to the psychiatric ward.Clients money are NOT assets.
Why is FXCM Markets operating unregulated on 400x leverage and offering 2.5% IR to $50k 1 year deposits? Is this the final tailspin of the ponzi scheme? Promising interest while not engaged in any profitable endeavor is a ponzi scheme which will end bad. Maddoff got 150 years in jail for his.
Best regards, Zef
  • #7,955
  • Aug 18, 2015 1:43pm Aug 18, 2015 1:43pm
Quoting ZeF
Why is FXCM Markets operating unregulated on 400x leverage and offering 2.5% IR to $50k 1 year deposits? Is this the final tailspin of the ponzi scheme? Promising interest while not engaged in any profitable endeavor is a ponzi scheme which will end bad. Maddoff got 150 years in jail for his.
You should be ashamed of yourself.
  • #7,956
  • Aug 18, 2015 2:19pm Aug 18, 2015 2:19pm
Quoting ZeF
@Jason could you please comment on the issues stated before? FXCM Inc. has $300M in liabilities as cash loan plus interest (min 20%). Also reported losses of $500M to your holders in H1 of 2015. Simple logic says if you don't own $1BN in assets that can be executed, you are technically insolvent.
FXCM is not insolvent and we are in compliance with all regulatory capital requirements in the jurisdictions in which we operate. It's important to note that despite the events of January 15th, our capitalization remains at levels similar to before the SNB event: http://bit.ly/10Pq5FJ

While I can't personally comment beyond citing info that's already publicly available, below is an excerpt from a LeapRate article that @shrike pointed out last week:

"most of the overall writeoff/loss is non cash and non operational, and has nothing to do with FXCMs operations and corporate health, but rather with accounting charges FXCM needs to take due to US GAAP accounting rules thanks to the future benefit that FXCM gave up to Leucadia."

Quoting shrike
Here is a nice article about FXCM stock price: http://leaprate.com/2015/08/misunder...and-valuation/ Its not very attractive to hold fxcm stock due to the loan-agreement with Leucadia. The core retail business is doing alright tho.
The stock price is a reflection of shareholder value as a result of the loan FXCM received from Leucadia in January. As our CEO Drew Niv mentioned during the earnings call, our plan is to pay back that loan by the end of the year, and we have outlined the non-core asset sales to accomplish this:

Attached Image (click to enlarge)
Click to Enlarge Name: DTfLu3b.jpg Size: 161 KB

If you have further questions about this, you're welcome contact our Investor Relations department: http://bit.ly/1SEYg7W

We pride ourselves in continuing to provide our clients with the same level of service and support to which they are accustomed. Our customer equity grew by $68 million or 10% from the last quarter. While $47 million of that increase was due to our acquisition of Citi FX Pro, the remainder was organic. It's a strong vote of confidence that Citibank chose FXCM for its customers when they decided to exit the business in June.

Quoting ZeF
The solution: FXCM Markets (Unregulated arm of FXCM Inc.) goes "ponzi style" offering micro accounts on 400x leverage and 2.5% interest for accounts over $50k in size. So FXCM Inc. is losing huge amounts of money every single day, yet they promise 2.5% interest to newcomers' money on their UNREGULATED arm. This is something Charles Ponzi could only have dreamt of . Since they are unregulated, they can offer ponzi-style claims. How can FXCM serve interest to clients when it is not engaged in ANY profitable activity? That's right -...
FXCM Markets is a solution for our clients who demand higher leverage than we offer through our regulated entities. Given what happened with EUR/CHF, the industry is now looking very hard at any potentially similar issues, especially with the increased geopolitical risks in Europe and economic risks in China.

The primary change FXCM made was to remove some currency pairs from our platform that carried significant risk due to over-active manipulation by their respective government either by a floor, ceiling, peg or band. We also raised the margin requirements for other currency pairs which reduced the maximum leverage available on our No Dealing Desk (NDD) forex execution to 100:1.

However, we continue to receive requests for higher leverage (lower margin requirements) particularly from traders in emerging markets where the average account balance is smaller. Offering these traders a DD option through FXCM Markets in addition to our existing NDD model allows us to cater to their demand for higher leverage from a risk management perspective.
  • #7,957
  • Aug 18, 2015 3:01pm Aug 18, 2015 3:01pm
Quoting mystified
Hi Jason What is the minimum deposit ?FXCM website says 200O USD?When did it go up from 1000USD to 2000?
Hi Mystified, the minimum for a standard FXCM account has been 2k for some time, at least since we introduced raw FX spreads: http://www.forexfactory.com/brokers.php#spreads
  • #7,958
  • Edited 4:06pm Aug 18, 2015 3:49pm | Edited 4:06pm
Quoting CatMan
The spread on FXCM is about 0.3 to 0.4 on EURUSD in calm market conditions most of the time ... This morning it was ...just until the very top of a spike up ..and than in a split second it became 1.2 pips ... holalaaa . Interesting ! Does FXCM has a crystal boll to see where the very top of the spike will be ?
Hi CatMan,

You have the cause and effect backwards. More than likely, it's precisely because the spread widened at a given moment that the price spiked at that time, not the other way around. The reason why price spikes are more likely to occur at extreme highs and lows on the chart is because, by definition, these market turning points are where supply/demand reaches exhaustion levels. The spread can widen momentarily when supply/demand gets exhausted, because liquidity providers manage their risk by placing fewer offers/bids in the market in case of a continued price breakout.

I can't see the exact time you are referring to on your chart, so I suggest you log into Trading Station to view a tick chart of the time in question. The same demo login details you use to access MT4 will allow you to access Trading Station. The Marketscope tick charts on that platform will allow you to view the bid and ask prices simultaneously, so you can know the spread at the time your demo order was triggered.
  • #7,959
  • Aug 18, 2015 4:01pm Aug 18, 2015 4:01pm
Quoting Jason Rogers
{quote} Hi Mystified, the minimum for a standard FXCM account has been 2k for some time, at least since we introduced raw FX spreads: http://www.forexfactory.com/brokers.php#spreads
Seeing how you are re-instituting micro accounts with a DD execution, I suspect that would change. All accounts under 1500 are charged $10.00 a month in maintenance fees. But if you do not want to trade against your broker, I guess it will continue to be 2k, or is that going up?
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #7,960
  • Aug 20, 2015 4:30am Aug 20, 2015 4:30am
Quoting Jason Rogers
{quote} FXCM is not insolvent and we are in compliance with all regulatory capital requirements in the jurisdictions in which we operate. It's important to note that despite the events of January 15th, our capitalization remains at levels similar to before the SNB event: http://bit.ly/10Pq5FJ While I can't personally comment beyond citing info that's already publicly available, below is an excerpt from a LeapRate article that @shrike pointed out last week: "most...
I suggested here in the past to FXCM to become a hybrid broker which would offer the option of MM and ECN to their clients.

they are always posting on how a ECN is more transparent and their customers notice it etc...etc...etc.

So why not go full transparency and allow a MM model for the gamblers while keeping the ECN model for the more conservative.

If people want to blow their money just give them all the pairs they want ( EUR/CHF anyone ?? ) and let they blow it as fast as they can.

I personally don't have anything against MM as long as they don't freeze their platform or disconnect me.
So, you think you have rights? LOL
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