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  • #9,181
  • Jun 19, 2016 9:33pm Jun 19, 2016 9:33pm
Quoting spzd
With so much whining and vitriol towards FXCM, I want to give them some kudos for fixing an issue I had. I was one of the accounts that came from IBFX. I was required to resubmit documentation. Due to circumstances beyond my control (had an accident which required multiple surgeries and a couple months of being laid up) I was unable to do this until just recently. This resulted in my account being locked. After all documentation was submitted, I was given a new account, but still had money in the locked account. I contacted FXCM by chat then email...
My accounts were also acquired from IBFX and I too was asked earlier this year to resubmit my documents. I wonder, did all former IBFX'ers get asked this too?

I did get all that sorted out before their deadline...
  • #9,182
  • Jun 20, 2016 5:08pm Jun 20, 2016 5:08pm
Quoting Mm8
{quote} Thankyou Jason i have since spoken to the staff in aus and they did see fit to mention that id taken this to a live forum something that could have been avoided if they had taken this action before, instead of just ignoring me completly perhaps customer relations training wouldnt go amiss
Thanks for your feedback, Colin, I've shared it with my colleagues.

Quoting Mm8
but i still have the same problem and that is will fxcm do this to me and other clients again ,do they still have the ability to wake up one morning and stretch and yawn and then just close everyones trades just because they can or is there something there that can protect the client from this.And i apologies in advance if you feel this is a cheap shot but i do still feel vunerable to this.
It's important to understand why your account was transferred from FXCM Australia to Halifax New Zealand.

New Zealand's Financial Market Authority has been phasing in new rules to the effect that any offer of derivatives to NZ residents will require appropriate licensing as a derivatives issuer in NZ. As a result, many brokers have already discontinued service in New Zealand altogether. Since neither FXCM Australia nor FXCM UK have an FMA derivatives issuer license, we have partnered with Halifax New Zealand which is appropriately licensed, so we can continue to offer you our services through them.

Halifax New Zealand is a licensed “Issuer” with the New Zealand Financial Markets Authority and under the new partnership, Halifax New Zealand will enable its clients to access the FXCM Trading Station or MT4 trading platforms and services. Halifax New Zealand clients will now benefit from FXCM’s distinctive No Dealing Desk Forex and Enhanced CFD execution models, while trading with a locally regulated broker.
  • #9,183
  • Jun 20, 2016 5:22pm Jun 20, 2016 5:22pm
Quoting Sis.yphus
Do the brokers get to choose how the operate the FIFO rule?
Hi Sis.yphus,

According to the NFA website, "The only exception to the FIFO rule is where a customer directs the FDM* to offset a same-size transaction, but even then the offset must be applied to the oldest transaction of that size." http://www.nfa.futures.org/nfa-faqs/...e-2-43-QA.HTML

However, in our experience, use of such an exception could cause more confusion for US traders than simply applying FIFO rules to all trades.


* Forex Dealer Member (AKA Retail Forex Broker)
  • #9,184
  • Jun 20, 2016 5:25pm Jun 20, 2016 5:25pm
Quoting Jason Rogers
{quote} Hi Sis.yphus, According to the NFA website, "The only exception to the FIFO rule is where a customer directs the FDM* to offset a same-size transaction, but even then the offset must be applied to the oldest transaction of that size." http://www.nfa.futures.org/nfa-faqs/...e-2-43-QA.HTML However, in our experience, use of such an exception could cause more confusion for US traders than simply applying FIFO rules to all trades. * Forex Dealer Member (AKA Retail Forex Broker)
hmmm very interesting. Thanks for the reply. Keep up the great work.
  • #9,185
  • Jun 20, 2016 5:29pm Jun 20, 2016 5:29pm
Quoting hoangforex
I have a question, is FXCM sponsoring any famous team or player in the world? I notice many big brokers have their name in Premier League or F1 Race or Grandslam? Does we have?
Interesting question, Hoang! I believe you're the first person to ask me that.

FXCM doesn't sponsor any famous sports teams or players. I suppose the risk is you may gain the fans of one team but end up alienating the fans of other teams. And how many of those supporters are interested in trading forex and CFDs?

Is there a particular club you wanted us to support? I'm an Arsenal fan myself. #COYG
  • #9,186
  • Jun 20, 2016 5:33pm Jun 20, 2016 5:33pm
Quoting spzd
With so much whining and vitriol towards FXCM, I want to give them some kudos for fixing an issue I had. I was one of the accounts that came from IBFX.
Thanks Spzd, we're glad to have you as our client! I've shared your feedback with Brandon.
  • #9,187
  • Edited 6:21pm Jun 20, 2016 6:08pm | Edited 6:21pm
Quoting toptrader8
Dear Jason I'm kind of crashing the party a little here, but please could you elaborate on how FXCM is going to protect itself this time round with the upcoming European Referendum (aka Brexit).
Thanks for reaching out to me, Toptrader8. As you can see from the discussion in this thread, I'm happy to address questions and concerns.

FXCM has raised margin requirements for GBP pairs and some other products as a precaution heading into Brexit. You should have already received emails about this. If not, please make sure our emails to you aren't going to your junk mail folder. You can speak with our live customer support team anytime 24 hours a day, if you need help confirming your margin settings for Brexit.

Quoting toptrader8
For what it's worth I have had an excellent experience with FXCM so far making hundreds a week without any issues. I have put in for a substantial withdrawal this week and was warned that it may take up to 5 days to process. I don't know if I should take this as a warning sign viz a vie the upcoming event. I am surprised that their is so little published on this matter, given the size of FXCM. I am thinking of the safety of my funds in a nutshell.
I'm glad you're enjoying an excellent experience with FXCM and want to congratulate you on your successful trading.

Quoting toptrader8
I have put in for a substantial withdrawal this week and was warned that it may take up to 5 days to process. I don't know if I should take this as a warning sign viz a vie the upcoming event.
We've made no changes to how withdrawals are processed. You mentioned you "put in for a substantial withdrawal this week" so I'm guessing you requested a withdrawal via bank wire transfer. Please note the message you received was not a warning, simply information so you know what to expect which we also posted on our website: "Domestic bank wires take about one to two business days and international bank wires take about three to five business days, often less, to arrive."

Quoting toptrader8
I am surprised that their is so little published on this matter, given the size of FXCM.
There has been substantial coverage of Brexit on our research website DailyFX.com. In fact, our series of webinars continues tomorrow with the topic of risk management heading into this key event.

Quoting toptrader8
I am thinking of the safety of my funds in a nutshell.
In regards to the safety of your funds, it's worth noting FXCM's strong regulatory capital position. As of May 6, 2016, the minimum regulatory capital requirement for our worldwide operations is $60 million. However, FXCM has regulatory capital of $167 million, a surplus of $107.2 million. Furthermore, the latest financial data from the CFTC show traders continue to have more money on deposit with FXCM than any other retail forex broker in the US.
Attached Image
  • #9,188
  • Edited 6:26pm Jun 20, 2016 6:12pm | Edited 6:26pm
Quoting Aad
{quote} My accounts were also acquired from IBFX and I too was asked earlier this year to resubmit my documents. I wonder, did all former IBFX'ers get asked this too? I did get all that sorted out before their deadline...
Yes Aad, all transferred clients had to provide proof of ID/residence documents. Those who provided this information before the deadline did not have their accounts locked. Those who provided their documents after the deadline had their accounts unlocked once the documents were received.
  • #9,189
  • Jun 20, 2016 6:17pm Jun 20, 2016 6:17pm
I will be out of the office until Wednesday, June 22nd and will respond to your posts and private messages when I return.*

For immediate assistance, you can contact our 24-hour live customer support.


* Gone to Houston for the USA vs. Argentina match! #IBTWWW
  • #9,190
  • Jun 21, 2016 9:29pm Jun 21, 2016 9:29pm
Question for Jason,

When are you guys going to correct the Bid / Ask on the U.S. MT4?? It's been over a year now & you still have not corrected this issue! I think it's criminal & don't even know how you can legally operate a platform this way.
Attached Image (click to enlarge)
Click to Enlarge Name: Bid Ask.png Size: 39 KB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #9,191
  • Jun 22, 2016 5:38am Jun 22, 2016 5:38am
Quoting GPips
Question for Jason, When are you guys going to correct the Bid / Ask on the U.S. MT4?? It's been over a year now & you still have not corrected this issue! I think it's criminal & don't even know how you can legally operate a platform this way. {image}
Hi Gpips

The option to have your account switched to a server that has the correct pricing has been available for months. In post #8679 Jason provided links to a form to request the switch.

1greyfox
  • #9,192
  • Jun 22, 2016 12:36pm Jun 22, 2016 12:36pm
Quoting 1greyfox
{quote} Hi Gpips The option to have your account switched to a server that has the correct pricing has been available for months. In post #8679 Jason provided links to a form to request the switch. 1greyfox
Thank you for your reply 1greyfox, I was unaware of this. I guess I never got the memo

G
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #9,193
  • Jun 22, 2016 1:39pm Jun 22, 2016 1:39pm
Quoting GPips
{quote} Thank you for your reply 1greyfox, I was unaware of this. I guess I never got the memo G
or read the post
  • #9,194
  • Edited 5:15pm Jun 22, 2016 5:03pm | Edited 5:15pm
Quoting 1greyfox
{quote} Hi Gpips The option to have your account switched to a server that has the correct pricing has been available for months. In post #8679 Jason provided links to a form to request the switch. 1greyfox
Hi 1greyfox

Thanks for sharing the info on my earlier posts regarding our MT4 chart solution: http://www.forexfactory.com/showthre...80#post8784480
  • #9,195
  • Jun 22, 2016 5:12pm Jun 22, 2016 5:12pm
Quoting GPips
{quote} Thank you for your reply 1greyfox, I was unaware of this. I guess I never got the memo G
Hi GPips,

If you are using Trading Station, then the spreads you see on your charts will depend on your account type: Mini or Standard. However, if you are using MT4, then the spreads you see on your charts will depend on the MT4 server to which you are connected. While the charts on some of our MT4 servers reflect the raw FX spreads available to Standard accounts, the FX charts on our other MT4 servers reflect the all-inclusive spreads (with no separate commissions) available to Mini accounts.

If you complete the form below, we can switch your Standard account to an MT4 server with charts displaying the raw FX spreads available to you for trading.

  1. MT4 Chart Update for FXCM US Clients
  2. MT4 Chart Update for FXCM UK Clients

  • #9,196
  • Jun 23, 2016 3:49pm Jun 23, 2016 3:49pm
Hi Jason. I have a question about VPS.

On the signup form, there is the checkbox for "I agree to the Terms and Conditions above and authorize FXCM to enable my account for VPS Hosting.*". However, I can't find said terms and conditions anywhere to read outside of account balance. Can you point them out to me?
  • #9,197
  • Jun 23, 2016 4:43pm Jun 23, 2016 4:43pm
Quoting nondisclosure00
Hi Jason. I have a question about VPS. On the signup form, there is the checkbox for "I agree to the Terms and Conditions above and authorize FXCM to enable my account for VPS Hosting.*". However, I can't find said terms and conditions anywhere to read outside of account balance. Can you point them out to me?
Hi NDC,

Below are the terms and conditions I've copied and pasted from our Free VPS Hosting page:

"Please be advised that the VPS hosting is controlled by a third party and FXCM shall not be made liable for any error or malfunction of the hosting service including, but not limited to, network communication failure, system errors or data failure. Maintain a balance of 5,000 base currency (or 500k JPY, and 40k HKD) on your account, and the VPS is yours at no cost. (For example, if your account denomination is Australian Dollars (AUD), that is an account balance of 5,000 AUD). If you do not meet this requirement at the end of the month, a fee of 30 base currency (3k JPY, 240 HKD) may be debited from any of your FXCM account(s) to cover the VPS cost."
  • #9,198
  • Jun 23, 2016 4:46pm Jun 23, 2016 4:46pm
Quoting Jason Rogers
{quote} Hi NDC, Below are the terms and conditions I've copied and pasted from our Free VPS Hosting page: "Please be advised that the VPS hosting is controlled by a third party and FXCM shall not be made liable for any error or malfunction of the hosting service including, but not limited to, network communication failure, system errors or data failure. Maintain a balance of 5,000 base currency (or 500k JPY, and 40k HKD) on your account, and the VPS is yours at no cost. (For example, if your account denomination...
I have no idea how I missed that!
Next question, it's pretty common practice for VPS providers to not allow DLL's. Is this true for this VPS provider?
Another question, one reason people like to use VPS's is that they sit, physically, close to the trading servers. Is this true with FXM (are they in the same building)?
  • #9,199
  • Edited 5:44pm Jun 23, 2016 5:26pm | Edited 5:44pm
Quoting nondisclosure00
Next question, it's pretty common practice for VPS providers to not allow DLL's. Is this true for this VPS provider?
I've never heard of this being an issue with either of the two VPS options we offer: FxColo.com or BeeksFX.com. You've given admin level access to a virtual Windows machine, so you should be able to install the files you need.

Quoting nondisclosure00
Another question, one reason people like to use VPS's is that they sit, physically, close to the trading servers. Is this true with FXM (are they in the same building)?
FxColo.com is co-located in the same data center. While BeeksFX.com is not, it's close. You can see stats on latency times for both VPS providers on their websites, and you can contact their support teams there if you have more technical questions for them.
  • #9,200
  • Jun 23, 2016 7:10pm Jun 23, 2016 7:10pm
Quoting Jason Rogers
{quote} I've never heard of this being an issue with either of the two VPS options we offer: FxColo.com or BeeksFX.com. You've given admin level access to a virtual Windows machine, so you should be able to install the files you need. {quote} FxColo.com is co-located in the same data center. While BeeksFX.com is not, it's close. You can see stats on latency times for both VPS providers on their websites, and you can contact their support teams there if you have more technical questions for them.
Thanks Jason!
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