Spread betting at FXCM

[Jason Rogers]

Re: US Stock Index CFDs closed due to Hurricane Sandy

Due to Hurricane Sandy, US equity and futures markets have been closed or subject to reduced hours. As a result, trading on the following CFD products was closed at 9:15am EDT: US30, SPX500, NAS100 and JPN225.

These products will remain closed until the CME exchange provides additional details on reopening: Futures & Options Trading for Risk Management - CME Group

Just an update: trading on JPN225 has re-opened.

 

[Jason Rogers]

Re: US Stock Index CFDs closed due to Hurricane Sandy

Due to Hurricane Sandy, US equity and futures markets have been closed or subject to reduced hours. As a result, trading on the following CFD products was closed at 9:15am EDT: US30, SPX500, NAS100 and JPN225.

These products will remain closed until the CME exchange provides additional details on reopening: Futures & Options Trading for Risk Management - CME Group

Latest update: US30, SPX500, NAS100 and JPN225 will be closed again today.

Click here for more info on market closures from the CME: Hurricane Sandy Update

 

[Jason Rogers]

Re: US Stock Index CFDs closed due to Hurricane Sandy

Due to Hurricane Sandy, US equity and futures markets have been closed or subject to reduced hours. As a result, trading on the following CFD products was closed at 9:15am EDT: US30, SPX500, NAS100 and JPN225.

These products will remain closed until the CME exchange provides additional details on reopening: Futures & Options Trading for Risk Management - CME Group

Update: All CFD products have resumed normal trading hours - http://docs.fxcorporate.com/user-guide/ug-cfd-product-guide-ltd-en.pdf

 

[Poldo]

Hi Jason,

I trade my FXCM account using Multicharts automated trading feature, I like the reliability and functionality of this setup, particularly the ability to use Easy Language / Power Language to code strategies.

I am considering opening a FXCM UK account to trade CFD's but found out that MCFX datafeed (FXCM's quotes integrated into Multicharts as an independent data package) does not support CFD symbols, only Forex.

I need to integrate FXCM's CFDs datafeed into Multicharts but have not been able to find a way to do it so far; have already contacted e-signal and IQFeed but it seems that these companies -same as MCFX- only provide data for FXCM's Forex symbols, not CFDs.

Do you know if there is a reliable way to feed FXCM's CFDs live and historical data into Multicharts?.

Thanks for your help.

 

[psypoab]

Been reading this thread and thought I would add to it regarding slippage.

On Friday I had a 15 point stop and the market went against me and I was stopped out a -55 points so a 40 point slip, not sure if that a big slip or not but it was a bit much for me.

A few trades earlier in the day , slip of extra 6 points on my stop, funny how it's never slips my way.

Still love the platform though still the bests I've seen, don't mind a few slipping points but 40 is Hugh for me.

 

[Jason Rogers]

Hi Jason,

I trade my FXCM account using Multicharts automated trading feature, I like the reliability and functionality of this setup, particularly the ability to use Easy Language / Power Language to code strategies.

I am considering opening a FXCM UK account to trade CFD's but found out that MCFX datafeed (FXCM's quotes integrated into Multicharts as an independent data package) does not support CFD symbols, only Forex.

I need to integrate FXCM's CFDs datafeed into Multicharts but have not been able to find a way to do it so far; have already contacted e-signal and IQFeed but it seems that these companies -same as MCFX- only provide data for FXCM's Forex symbols, not CFDs.

Do you know if there is a reliable way to feed FXCM's CFDs live and historical data into Multicharts?.

Thanks for your help.

Hi Poldo,

One of my colleagues in our tech support department followed up with the makers of MCFX regarding your question. They told him that while their charts don't currently support CFDs, it's a feature they may look to add in the future. Let me know if you would like some help coding CFD trading strategies for an alternate charting program. I can put you in touch with our Programming Services department.

Jason

 

[hacks]

Jason, is there any reason why I can't log in to Strategy Trader during the weekend? I know the markets are closed, but I would like to test trading strategies during the weekend in offline mode using historical data.

Thanks.

 

[Jason Rogers]

Been reading this thread and thought I would add to it regarding slippage.

On Friday I had a 15 point stop and the market went against me and I was stopped out a -55 points so a 40 point slip, not sure if that a big slip or not but it was a bit much for me.

A few trades earlier in the day , slip of extra 6 points on my stop, funny how it's never slips my way.

Still love the platform though still the bests I've seen, don't mind a few slipping points but 40 is Hugh for me.

Hi Psypoab,

Welcome to T2W

If you find that slippage often works against you, it's probably the case that you are looking at stop orders. With limit orders, it's more common for slippage to work in your favor. It has to do with the direction in which momentum is going when a stop order is triggered as opposed to when a limit order is triggered. Here's a link to stats which show that positive and negative slippage are equally likely when you consider both stop and limit orders: http://docs.fxcorporate.com/faq/slippage-statistics.pdf

In regards, to the trade where you experienced 40 pips of slippage on Friday while that is higher than average, it's possible that it was due to market conditions, since the Non-Farm Payrolls data was released that day. To be sure of what happened, I would encourage you to email me at [email protected] with your account details. That way the Trade Audit Committee can investigate the trade for you. If there was an error in our trade execution, they will make the appropriate correction for your account.

Jason

 

[Jason Rogers]

Jason, is there any reason why I can't log in to Strategy Trader during the weekend? I know the markets are closed, but I would like to test trading strategies during the weekend in offline mode using historical data.

Thanks.

Hi Hacks,

When we are performing weekend maintenance on the particular server that hosts your trading account, then you won't be able to log in with any platform including Strategy Trader. That said, the trading desk opened for the new week at 5pm New York time on Sunday, so you should be able to log in now. If you are still having difficulty accessing your platform, please contact our live support team, and they will help you troubleshoot the problem: CONTACT DETAILS

Jason

 

[hacks]

Hi Hacks,

When we are performing weekend maintenance on the particular server that hosts your trading account, then you won't be able to log in with any platform including Strategy Trader. That said, the trading desk opened for the new week at 5pm New York time on Sunday, so you should be able to log in now. If you are still having difficulty accessing your platform, please contact our live support team, and they will help you troubleshoot the problem: CONTACT DETAILS

Jason

So its not because the markets were closed, its because of maintenance? It works fine now, but Saturday morning I couldn't log in to my live account.

 

[Jason Rogers]

So its not because the markets were closed, its because of maintenance? It works fine now, but Saturday morning I couldn't log in to my live account.

Hi Hacks,

We often perform routine maintenance on the servers during the weekend since it's the only time the trading desk is closed. Usually, this means that you won't be able to log in Friday evening or Saturday morning. This maintenance period can sometimes take longer if we are installing new updates.

Jason

 

[Vasco da Banana]

Hi Psypoab,

Welcome to T2W

If you find that slippage often works against you, it's probably the case that you are looking at stop orders. With limit orders, it's more common for slippage to work in your favor. It has to do with the direction in which momentum is going when a stop order is triggered as opposed to when a limit order is triggered. Here's a link to stats which show that positive and negative slippage are equally likely when you consider both stop and limit orders: http://docs.fxcorporate.com/faq/slippage-statistics.pdf

In regards, to the trade where you experienced 40 pips of slippage on Friday while that is higher than average, it's possible that it was due to market conditions, since the Non-Farm Payrolls data was released that day. To be sure of what happened, I would encourage you to email me at [email protected] with your account details. That way the Trade Audit Committee can investigate the trade for you. If there was an error in our trade execution, they will make the appropriate correction for your account.

Jason

Those stats don't seem to include actual amounts of 'slippage', so how do we know whether it's more negative than positive? Using the example above, has anyone ever been given 40 pips?

 

[pboyles]

a 40 point slip, not sure if that a big slip or not but it was a bit much for me.

A few trades earlier in the day , slip of extra 6 points on my stop, funny how it's never slips my way.

.

Its called aysmetrical slippage, its what they were fined $20 million for.

 

[the hare]

Those stats don't seem to include actual amounts of 'slippage', so how do we know whether it's more negative than positive? Using the example above, has anyone ever been given 40 pips?

I've pulled Jason up on this point on many occasions (and he generally ducks the issue as I suspect the answer would not make comfortable reading for FXCM customers)

As you point out, 1 pip positive slippage on a 1$ per pip position isn't equal to 1 pip negative slippage on a $50 per pip position.

Until he's prepared to provide dollar amounts ( or a ratio of positive to negative slippage based on a DOLLAR value) FXCM deserves to be scrutinized on this .

 

[Jason Rogers]

Those stats don't seem to include actual amounts of 'slippage', so how do we know whether it's more negative than positive? Using the example above, has anyone ever been given 40 pips?

I've pulled Jason up on this point on many occasions (and he generally ducks the issue as I suspect the answer would not make comfortable reading for FXCM customers)

As you point out, 1 pip positive slippage on a 1$ per pip position isn't equal to 1 pip negative slippage on a $50 per pip position.

Until he's prepared to provide dollar amounts ( or a ratio of positive to negative slippage based on a DOLLAR value) FXCM deserves to be scrutinized on this .

Hi guys,

On FXCM's NDD model, your orders are filled dependent on liquidity at the price available from the liquidity providers. If the price you get filled at is better than your original order price, it's called positive slippage. If it's worse then it's called negative slippage. The stats we provide show you the percentage of orders that received positive or negative slippage. We have released this information to show you the transparency of our order execution, and you can ask any of our competitors if they provide the same to show how often you receive positive slippage and on what orders.

In regards to the question about the dollar amount of slippage that occurred, you rightly point out that a pip can vary in value, which would ultimately impact the dollar value of the positive or negative slippage. Whether a pip is worth $1 or worth $10 is a reflection of the trader's own risk management, since traders are free to choose their own trading size. So of course pip value will make a difference in the dollar amount made or lost, but this is a factor of the trader's choice rather than the market liquidity.

Our platform does not treat positive and negative slippage differently, and the dollar amount of slippage depends on the size of the order. Clients have received positive slippage of 40 pips and more. A typical time when slippage of this amount can occur is during weekend gaps or news events, so please be aware of the increased chance of this happening during these types of illiquid markets. Below are examples of how positive and negative slippage would work in such a situation.

Example 1 - Positive Slippage
Trader 1 is long GBP/JPY at 1.2700 and has a limit order set at 1.2900 going into a weekend. When trading resumes for the new week, GBP/JPY starts trading at 1.3000. The limit order is triggered and as filled at the best available price in the market at the time which is 1.3000. Trader 1 has positive slippage of 100 pips on this limit order.

Example 2 - Negative Slippage
Trader 2 is short GBP/JPY at 1.2700 and has a stop order set at 1.2900 going into a weekend. When trading resumes for the new week, GBP/JPY starts trading at 1.3000. The stop order is triggered and as filled at the best available price in the market at the time which is 1.3000. Trader 2 has negative slippage of 100 pips on this stop order.​

Jason

 

[pboyles]

Jason

When will you be reimbursing your UK clients for the losses they suffered as a result of your dishonest slippage practices? You seem to have forgotten to answer this question previously. I'm sure you were probably busy voting etc but if you get a chance please let us know when you'll be reimbursing UK clients as per your $20 million fine.

 

[tar]

Jason

When will you be reimbursing your UK clients for the losses they suffered as a result of your dishonest slippage practices? You seem to have forgotten to answer this question previously. I'm sure you were probably busy voting etc but if you get a chance please let us know when you'll be reimbursing UK clients as per your $20 million fine.

I am sorry but you sound childish here mate with you repeating that question many times , they weren't fined by the FSA so until then they don't have any obligation to give a penny for UK clients ....

 

[pboyles]

I am sorry but you sound childish here mate with you repeating that question many times , they weren't fined by the FSA so until then they don't have any obligation to give a penny for UK clients ....

I think legally they can keep the money they took from UK clients, it hardly makes it right though.

 

[Vasco da Banana]

I am sorry but you sound childish here mate with you repeating that question many times , they weren't fined by the FSA so until then they don't have any obligation to give a penny for UK clients ....

How about a moral obligation?

 

[pboyles]

I am sorry but you sound childish here mate with you repeating that question many times , they weren't fined by the FSA so until then they don't have any obligation to give a penny for UK clients ....

Here's an analogy for you. Your house and your neighbours house get broken in to and you both get a lot of stuff stolen. The police catch the guys but only find their fingerprints in your neighbours house so they only get convicted for one burglary. You neighbour is able to make a claim for compensation against them and succeeds. You cant because they were not convicted of breaking into your house due to lack of evidence.

Therefore they do not have to give you a penny and that's fine by you? You think it would be childish for you to moan about that?