FXCM Discussion | Page 399 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/JPY

Similar Threads

FXCM with Sierra Charts - Discussion and alternatives 8 replies

Elliott Waves discussion 4 replies

FXCM gets another CFTC fine, while Drew Niv leaves FXCM UK board 17 replies

Euro/Dollar discussion 9 replies

Forward Testing Discussion Thread 241 replies

Attachments: FXCM Discussion
Exit Attachments

FXCM Discussion

  • #7,961
  • Aug 21, 2015 5:15am Aug 21, 2015 5:15am
i am looking for a reliable broker that i can withdraw my money from i dont care about spreads and commissions because if you are looking for big money 10 and 20 dollars wont matter so i just need some one who already worked with FXCM to tell me kindly if it is a reliable broker regrading the withdrawals .
  • #7,962
  • Aug 21, 2015 7:51am Aug 21, 2015 7:51am
@ Jason Rogers

I have a request to make to fxcm, perhaps you can just forward it to the relevant people on the company.

Here is my request, i would like to have the following charts/pairs available on the mt4:

1) JPYUSD
2) CADUSD

It is not important for them to be tradable (we just need the charts, if we want to buy jpyusd we'll just sell usdjpy, no problem), and it is quite easy to have them, for example:

JPYUSD = 100/USDJPY >> so, JPYUSD would show how much usd are 100jpy, for example 122.66 usdjpy would become 0.81526 jpyusd.
CADUSD = 1/usdcad >>so, CADUSD would show how much usd is 1 cad, for example 1.30700 usdcad would become 0.76511 cadusd.

It is quite simple to generate charts and somehow stream them via the mt4 feed prices, again we don't need them to be treadable.

Why such request, just for a easier perception purposes of the usd strenght, we know that the major currencies in the world (as per gdp of the country they represents) are eur and usd (followed by jpy, gbp, aud, cad), so it would be nice to have a view on them (like, eurusd, eurjpy, eurgbp, euraud, eurcad ..AND eurusd, jpyusd, gbpusd, audusd, cadusd).

I've used a mq4 script that do this job by creating offline charts for jpyusd and cadusd, but it is really time consuming and boring to take care of the script and keep it working in local etc. So, having such charts directly on the mt4 price feed would be quite nice, and it is very simple to realize on the server side (i guess a good of your programmers would need just 10minutes to set-up everthing on your side), and it would be helpful for soo many traders.

  • #7,963
  • Aug 21, 2015 4:12pm Aug 21, 2015 4:12pm
Quoting tunera
@ Jason Rogers I have a request to make to fxcm, perhaps you can just forward it to the relevant people on the company. Here is my request, i would like to have the following charts/pairs available on the mt4: 1) JPYUSD 2) CADUSD It is not important for them to be tradable (we just need the charts, if we want to buy jpyusd we'll just sell usdjpy, no problem), and it is quite easy to have them, for example: JPYUSD = 100/USDJPY >> so, JPYUSD would show how much usd are 100jpy, for example 122.66 usdjpy would become 0.81526 jpyusd. CADUSD = 1/usdcad...
Thanks for the suggestion, Tunera

I will pass it onto our developers.
  • #7,964
  • Aug 23, 2015 4:32am Aug 23, 2015 4:32am
Quoting tunera
@ Jason Rogers I have a request to make to fxcm, perhaps you can just forward it to the relevant people on the company. Here is my request, i would like to have the following charts/pairs available on the mt4: 1) JPYUSD 2) CADUSD It is not important for them to be tradable (we just need the charts, if we want to buy jpyusd we'll just sell usdjpy, no problem), and it is quite easy to have them, for example: JPYUSD = 100/USDJPY >> so, JPYUSD would show how much usd are 100jpy, for example 122.66 usdjpy would become 0.81526 jpyusd. CADUSD = 1/usdcad...
Given that they still can't show accurate bid/ask lines on their MT4 charts for something like EURUSD, I wouldn't hold my breath.
  • #7,965
  • Edited 9:00am Aug 24, 2015 8:36am | Edited 9:00am
Hi Jason,


what's going on in the GER30 pair?

I'm currently trying to close my positions (well in profit) since about half an hour.
It does not even honor the takeprofit of one trade.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_144.jpg Size: 494 KB


The chart also differs from $OTHERBROKER as well as the ticks since.

Now this is called a "Take profit slippage", isn't it?

Best regards


Naddmer

P.S.: Finally I got out of them...
Attached Image
  • #7,966
  • Aug 24, 2015 8:57am Aug 24, 2015 8:57am
Quoting Naddmer
Hi Jason, what's going on in the GER30 pair? I'm currently trying to close my positions (well in profit) since about half an hour. It does not even honor the takeprofit of one trade. {image} The chart also differs from $OTHERBROKER as well as the ticks since. Now this is called a "Take profit slippage", isn't it? Best regards Naddmer

You need to speak with their Dealing Desk and register that you can't close out your trades.

Also, you can log into their Chat and register the same - that way you can keep a copy of your request and their reply.
Trading Levels with WRBs
  • #7,967
  • Aug 24, 2015 9:06am Aug 24, 2015 9:06am
Half an hour of not being able to get out - with the current volatility this can potentially wipe out a daytrader(and some other poor sod probably was). Not quite confidence-inspiring..
  • #7,968
  • Edited 9:34am Aug 24, 2015 9:22am | Edited 9:34am
Quoting shrike
Half an hour of not being able to get out - with the current volatility this can potentially wipe out a daytrader(and some other poor sod probably was). Not quite confidence-inspiring..
All in all the downtime of the GER30 pair was from 15:17 CEST until 15:54 CEST.

Saved the screenshots and the logs - just in case someone might need some evidence.

As one can see there were no ticks from FXCM during the washout period between 15:31 until 15:35

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_147.jpg Size: 156 KB
  • #7,969
  • Aug 24, 2015 10:48am Aug 24, 2015 10:48am
Jason, can you respond and explain Naddmer concern ASAP...worried about opening the positions now...

"Half an hour of not being able to get out - with the current volatility this can potentially wipe out a daytrader(and some other poor sod probably was). Not quite confidence-inspiring.."
  • #7,970
  • Aug 24, 2015 11:23am Aug 24, 2015 11:23am
Quoting Naddmer
Hi Jason, what's going on in the GER30 pair? I'm currently trying to close my positions (well in profit) since about half an hour. It does not even honor the takeprofit of one trade. {image} The chart also differs from $OTHERBROKER as well as the ticks since. Now this is called a "Take profit slippage", isn't it? Best regards Naddmer P.S.: Finally I got out of them... {image}
Quoting Islander
{quote} You need to speak with their Dealing Desk and register that you can't close out your trades. Also, you can log into their Chat and register the same - that way you can keep a copy of your request and their reply.
Quoting shrike
Half an hour of not being able to get out - with the current volatility this can potentially wipe out a daytrader(and some other poor sod probably was). Not quite confidence-inspiring..
Quoting Naddmer
{quote} All in all the downtime of the GER30 pair was from 15:17 CEST until 15:54 CEST. Saved the screenshots and the logs - just in case someone might need some evidence. As one can see there were no ticks from FXCM during the washout period between 15:31 until 15:35 {image}
Hi Naddmer,

I'm glad to hear you were finally able to close your positions, but as @Islander suggested, please use this online form to file a trade inquiry: http://bit.ly/1lQlJ7Z

The Trade Services Team will then be able to review your case and follow up with a resolution. You can email your screenshots and logs to them at [email protected]. Please reference your case number in the subject line of your email. You will receive that number when you submit your trade inquiry online.

Thanks,
Jason
  • #7,971
  • Aug 24, 2015 11:29am Aug 24, 2015 11:29am
Quoting driven18
Jason, can you respond and explain Naddmer concern ASAP
Hi Driven18,

At the time of this post, the GER30 price feed is updating normally. I checked with our techs, and no other trading instruments seems to have been affected at the time Naddmer posted.

If you ever require immediate assistance, please note that our live customer support team is available 24 hours a day by phone and online chat: http://bit.ly/181FKSK
  • #7,972
  • Aug 24, 2015 12:20pm Aug 24, 2015 12:20pm
Quoting Jason Rogers
{quote} Hi Driven18, At the time of this post, the GER30 price feed is updating normally. I checked with our techs, and no other trading instruments seems to have been affected at the time Naddmer posted.
The bad faith at its height,
you are right Naddmer, no price feed for 4 minutes generating a gap of 32 Pts (between close/open)
"you have the nuts, we freeze". FXCM motto
  • #7,973
  • Edited 11:36am Aug 25, 2015 11:24am | Edited 11:36am
Howdy Jason,

Quoting Jason Rogers
{quote} {quote} {quote} {quote} Hi Naddmer, I'm glad to hear you were finally able to close your positions,
bet cha don't know how glad I was to get about 150Pts instead of 100 pts because of this glitch ... ;-)
Was that stressed by this bug that I missed a long entry into the US30 though.




Quoting Jason Rogers
but as @Islander suggested, please use this online form to file a trade inquiry: http://bit.ly/1lQlJ7Z The Trade Services Team will then be able to review your case and follow up with a resolution. You can email your screenshots and logs to them at [email protected] ("[email protected]"). Please reference your case number in the subject line of your email. You will receive that number when you submit your trade inquiry online. Thanks, Jason
The order management EA I'm using tried about >2000 times to close the trades receiving "off quotes" as the error.

Inserted Code
grep -e "15:.*:.*\..*GER30,M5:.*orderClose.*Error" GER30-Close-Fail-20150824.log  | wc -l
2092
 
grep -e "15:.*:.*\..*GER30,M5:.*orderClose.*Error" GER30-Close-Fail-20150824.log  | head -n 1
0       15:17:01.035    db_MTStop_V2.05 GER30,M5: orderCloseReliable(): Temporary Error: 136 off quotes. waiting 30 pPrice= 9594 price= 9594 curPrice=    0
 
grep -e "15:.*:.*\..*GER30,M5:.*orderClose.*Error" GER30-Close-Fail-20150824.log  | tail -n 1
0       15:54:04.522    db_MTStop_V2.05 GER30,M5: orderCloseReliable(): Temporary Error: 136 off quotes. waiting 30 pPrice= 9465 price= 9465 curPrice=    0

while other pairs were fine and responsive as ever:

Inserted Code
grep -e "15:.*:.*\..*US30,M5:.*orderClose" GER30-Close-Fail-20150824.log  | tail -n 1
0       15:37:29.321    db_MTStop_V2.05 US30,M5: orderCloseReliable(): Success!

You don't mind to tell publicly

  1. the cause of the glitch?
  2. the remedies FXCM has taken to avoid such a bug in the future?

Please don't even try to tell me that a client hammering on close in MT4 for >30 minutes about 2000 times on 7 trades gets by unnoticed and unlogged by the IT of FXCM. Please! Pretty please!


Thanks and best regards

Naddmr

  • #7,974
  • Aug 25, 2015 4:22pm Aug 25, 2015 4:22pm
Quoting Naddmer
Howdy Jason, {quote} bet cha don't know how glad I was to get about 150Pts instead of 100 pts because of this glitch ... ;-) Was that stressed by this bug that I missed a long entry into the US30 though.
Hi Naddmer,

I apologize for any inconvenience and am glad your GER30 trade wasn't negatively impacted. However, if it had been, rest assured that the Trade Services Team could have reviewed any trades with this in mind for a possible adjustment.

For this reason, I encourage you to file a trade inquiry for your US30 entry order, if you have not already, so the Trade Services Team can review that case for you.

Quoting Naddmer
The order management EA I'm using tried about >2000 times to close the trades receiving "off quotes" as the error. while other pairs were fine and responsive as ever:
I'm happy to hear your orders on other pairs executed without issue.

Quoting Naddmer
You don't mind to tell publicly the cause of the glitch? the remedies FXCM has taken to avoid such a bug in the future? Please don't even try to tell me that a client hammering on close in MT4 for >30 minutes about 2000 times on 7 trades gets by unnoticed and unlogged by the IT of FXCM. Please! Pretty please! Thanks and best regards Naddmr
There was an issue with one of our liquidity providers that quotes prices for GER30 and a delay in bringing the backup feeds online. The solution we are implementing is to streamline the process of bringing backups online if there is ever a similar issue with the GER30 quotes in the future as well as adding more liquidity providers to the feed.
  • #7,975
  • Aug 26, 2015 5:52am Aug 26, 2015 5:52am
What happen with our trading funds if in case FXCM share price go to zero which mean insolvency ?
  • #7,976
  • Aug 26, 2015 6:20am Aug 26, 2015 6:20am
Quoting hsl6789
What happen with our trading funds if in case FXCM share price go to zero which mean insolvency ?
There is no reason FXCM should go insolvent.

They say that by the end of the year the repaid ALL outstanding debt. That fact alone, along with a couple of other facts makes it extremely unlikely that FXCM will go insolvent.
Forex is a losers game.
  • #7,977
  • Aug 26, 2015 9:41am Aug 26, 2015 9:41am
Quoting hsl6789
What happen with our trading funds if in case FXCM share price go to zero which mean insolvency ?
Quoting trader121
{quote} There is no reason FXCM should go insolvent. They say that by the end of the year the repaid ALL outstanding debt. That fact alone, along with a couple of other facts makes it extremely unlikely that FXCM will go 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'm not authorized to comment on our stock price beyond citing info that's already publicly available, below is an excerpt from a LeapRate article that @shrike pointed out recently:

"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.
  • #7,978
  • Aug 27, 2015 11:59am Aug 27, 2015 11:59am
Jason,

Again,

2015.08.27

EP=135.926
SL=135.596
TP=136.482
CLOSED at 135.832

Pls. find attached screenshot.


brgrds,
st888
Attached Image (click to enlarge)
Click to Enlarge Name: 10150828.png Size: 4 KB
  • #7,979
  • Aug 27, 2015 3:04pm Aug 27, 2015 3:04pm
Quoting duxis
....."you have the nuts, we freeze". FXCM motto
This deserves more love.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #7,980
  • Aug 27, 2015 4:30pm Aug 27, 2015 4:30pm
Quoting seatrader888
Jason, Again, 2015.08.27 EP=135.926 SL=135.596 TP=136.482 CLOSED at 135.832 Pls. find attached screenshot. brgrds, st888 {image}
Hi St888,

You can use this form to file a trade inquiry: http://bit.ly/1bPwxzZ

The Trade Services Team can then investigate your case, and if there was an error in our execution, FXCM will make the appropriate correction to your account.

That said, it's important to note that when a stop loss (SL) order is triggered, it becomes a market order. That means it will get filled at the best available price in the market which may not be the original price you requested. This is not a bad thing. Imagine the alternative. If a stop loss order could only be filled at the price you requested and that price was not available in the market, then your trade would remain open even if the market continued to move against you further and further resulting in even greater losses.

When an order gets filled at a different price than you requested, that is called slippage. It's worth noting that unlike with some other brokers, slippage with FXCM can be either positive or negative. Positive slippage is when your order gets filled at a better price than you requested. A study of over 43 million orders executed through FXCM during a twelve-month period revealed the following:

  1. 76.2% of all orders had NO SLIPPAGE.
  2. 13.5% of all orders received positive slippage.
  3. 10.2% of all orders received negative slippage.
  4. Over 58% of all limit and limit entry orders received positive slippage.
  5. 52% of all stop and stop entry orders received negative slippage.
  6. Over the course of that year, FXCM clients benefited from over $21 million in positive slippage.

Note that with FXCM, positive slippage is more common than negative slippage. It's only that positive slippage is more common with limit orders, while negative slippage is more common with stop orders. That's due the momentum of price movement when such order types are triggered.

6 traders viewing now