Newby looking into brokers

Hi all, I've been reading and demo trading a simple system in a fxcm micro account for about 18 months and I'm looking to open a live micro account. I think fxcm seems ok and I think I prefer variable spreads, but I have'nt tried any others.

I live in London I know fxcm are in New york are there any issues there or can any one recommend a better broker ?

Thanks.

Pugg said:

Hi all, I've been reading and demo trading a simple system in a fxcm micro account for about 18 months and I'm looking to open a live micro account. I think fxcm seems ok and I think I prefer variable spreads, but I have'nt tried any others.

I live in London I know fxcm are in New york are there any issues there or can any one recommend a better broker ?

Thanks.

Click to expand...

Hi Pugg,

FXCM has an office in London if you prefer to keep the account closer to home, and FXCM UK is regulated by the FSA. The FXCM UK site is fxcm.co.uk .

-Jason

Pugg said:

Hi all, I've been reading and demo trading a simple system in a fxcm micro account for about 18 months and I'm looking to open a live micro account. I think fxcm seems ok and I think I prefer variable spreads, but I have'nt tried any others.

I live in London I know fxcm are in New york are there any issues there or can any one recommend a better broker ?

Thanks.

Click to expand...

Trading Retail FX from a U.S. based intermediary regulated by the CFTC, is about become on par with being a roaming Dinosaur just before the great Barringer meteor struck planet earth in the state of Arizona, some 200+ million years ago. You don't want to be standing at ground zero when it happens.

If you like continually having your trading platform shut down during high volume periods, such that you cannot manually exit out of your position, or such that you continually get re-quoted without anyone actually using the words "re-quote," or if you enjoy not being able to log-in to your trading platform for a full day on Friday's (just before the weekend), all because the company you trade with does not understand technology well enough to realize the benefits from enterprise technology concepts such as: Fail-Over, Scalable, Fault Tolerant, Redundancy or Emergency Power Supply (for goodness sakes), then by all means, stick with the one who brought you to the dance.

Just remember, if you don't return the carriage by midnight, that White Horse driven piece of work will automatically turn into a useless pumpkin and leave you stranded on the side of the road with one thumb UP in the air looking for a ride home and one thumb DOWN on the thought of ever being silly enough to actually think that you could get anywhere with it - other than to the corner grocery store.

TradeSMART, by Managing your Positions. :smart:


http://www.trade2win.com/boards/forex-brokers/87454-best-forex-awards-2010-a.html#post1052654

Do your homework.

TraderNumber7 said:

Trading Retail FX from a U.S. based intermediary regulated by the CFTC, is about become on par with being a roaming Dinosaur just before the great Barringer meteor struck planet earth in the state of Arizona, some 200+ million years ago. You don't want to be standing at ground zero when it happens.

If you like continually having your trading platform shut down during high volume periods, such that you cannot manually exit out of your position, or such that you continually get re-quoted without anyone actually using the words "re-quote," or if you enjoy not being able to log-in to your trading platform for a full day on Friday's (just before the weekend), all because the company you trade with does not understand technology well enough to realize the benefits from enterprise technology concepts such as: Fail-Over, Scalable, Fault Tolerant, Redundancy or Emergency Power Supply (for goodness sakes), then by all means, stick with the one who brought you to the dance.

Just remember, if you don't return the carriage by midnight, that White Horse driven piece of work will automatically turn into a useless pumpkin and leave you stranded on the side of the road with one thumb UP in the air looking for a ride home and one thumb DOWN on the thought of ever being silly enough to actually think that you could get anywhere with it - other than to the corner grocery store.

TradeSMART, by Managing your Positions. :smart:


http://www.trade2win.com/boards/forex-brokers/87454-best-forex-awards-2010-a.html#post1052654

Do your homework.

Click to expand...

Hi TraderNumber7,

There are no re-quotes on FXCM UK’s platform. Could you please explain what you mean by

you continually get re-quoted without anyone actually using the words "re-quote,"

Click to expand...

All of forex contracts on the standard 10k accounts and spread bet accounts are executed via no dealing desk execution. This is why our platform is a no re-quote system. If an order is executed as an At Best order, the trade gets filled at the best price available. The CFD products, though executed through the dealing desk, do not have re-quotes either. Have you traded with FXCM?

While traders trading through a US entity regulated by the CFTC will be affected by the leverage proposal, FXCM UK will not since FXCM UK is regulated by the FSA. We will continue to offer flexible leverage as well as other capabilities no longer allowed in the US such as hedging and individual position management (non-FIFO).

Stability of any technlogical system is important, and no system is 100% perfect. But we will do our best to make sure systems are performing as flawlessly as possible. As one of the world’s largest forex brokers with over 150,000 live accounts trading through platforms offered by FXCM, this is very important. We have a real time status website at www.fxstatus.com updating every 30 seconds letting you know about any technical issues in real time. If a loss results due to any tech issues on our side, you can request a trade audit and we will work to correct it. We also have phone trading available as a back-up in the event technical issues occur. There are over toll free numbers for over 40 countries http://www.fxcm.co.uk/contact-fxcm.jsp .

Feel free to let me know if you have any additional questions.

-Jason
FXCM