Best Thread FXCM Discussion

[pboyles]

mr fxcm

your spreads are far too high. Also the extra charge in your nightly rollover charge is far too high since besides the difference in currencies overnight bank rates you add on a percentage charge every night which is sneaky and not necessary since you claim your only profit is from the spreads.

secondly you are the opposite of the traders and the trades do not go into the market at all. You are market makers and mainly make money when clients loose. You can claim all you want that this is not true but it is easy to lie when no one can proove otherwise. If you would have asked mfglobal or worldspreads if they segregrate money they also lied that they did and proof since they are regulated but that did not stop them being dishonest and sorry to say the same is with fxcm. If you can show me a statement with currenex or the cme or the actual exchanges of trades being hedged that i can verify i would beleive you but i am prepared to put down £1000 now that you cannot prove this since you don't hedge but rely on 90% of people loosing money.

every body look at this link FXCM Fined $2 Million for Slippage Issues ? Clients Will Be Compensated - Business Insider where it says fxcm fined 2m for slippage. just proof you are low lifes like the rest of spread betters.

regards

a person who is in the spreadbetting industrymr fxcm

your spreads are far too high. Also the extra charge in your nightly rollover charge is far too high since besides the difference in currencies overnight bank rates you add on a percentage charge every night which is sneaky and not necessary since you claim your only profit is from the spreads.

secondly you are the opposite of the traders and the trades do not go into the market at all. You are market makers and mainly make money when clients loose. You can claim all you want that this is not true but it is easy to lie when no one can proove otherwise. If you would have asked mfglobal or worldspreads if they segregrate money they also lied that they did and proof since they are regulated but that did not stop them being dishonest and sorry to say the same is with fxcm. If you can show me a statement with currenex or the cme or the actual exchanges of trades being hedged that i can verify i would beleive you but i am prepared to put down £1000 now that you cannot prove this since you don't hedge but rely on 90% of people loosing money.

every body look at this link FXCM Fined $2 Million for Slippage Issues ? Clients Will Be Compensated - Business Insider where it says fxcm fined 2m for slippage. just proof you are low lifes like the rest of spread betters.

regards

Actually their fines and restitution came to about $20 million. There was an NFA case and a CFTC case. They had to refund US clients for what they had lost due to the dodgy slippage practices. They did not have to refund non US clients meaning they were able to keep any gains.

 

[pboyles]

Are you ever going to answer my question about non US customers being compensated for your unfair slippage practices? Obviously your $20 million fine only compensated US customers, it was still a hefty fine but many other customers appear not to have been compensated for your actions.

I suppose it's a no.

 

[hellrise]

What about zulutrade? Its a nice way to share your signals with other users.

 

[Jason Rogers]

What about zulutrade? Its a nice way to share your signals with other users.

Hi Hellrise,

Interesting you should ask. FXCM is currently exploring different options to see if we can provide a way to automate the DailyFX signals for you. Nothing concrete yet, but keep an eye on this thread for future updates.

Jason

 

[Jack_Larkin]

Hi Hellrise,

Interesting you should ask. FXCM is currently exploring different options to see if we can provide a way to automate the DailyFX signals for you. Nothing concrete yet, but keep an eye on this thread for future updates.

Jason

Don't you already use Mirror Trader / System Selector? Just work with that service provider and plug in the strategies to their offering..

Or, are you looking to do something crafty, like make an EA that follows the signals and provide that EA through the newly crafted "app" store?

 

[hellrise]

Hi Hellrise,

Interesting you should ask. FXCM is currently exploring different options to see if we can provide a way to automate the DailyFX signals for you. Nothing concrete yet, but keep an eye on this thread for future updates.

Jason

Thx Jason , i will keep an eye for updates

 

[Jason Rogers]

Or, are you looking to do something crafty, like make an EA that follows the signals and provide that EA through the newly crafted "app" store?

Jack,

I'm always impressed with how spot on your posts are. You'll just have to wait and see

Jason

 

[glyder]

Hi Jason,

Just looking at the FXCM site, I see you offer spreadbetting on MT4.
Is this also a no dealing desk / no requote account?

Many thanks,

 

[Jason Rogers]

Hi Jason,

Just looking at the FXCM site, I see you offer spreadbetting on MT4.
Is this also a no dealing desk / no requote account?

Many thanks,

Hi Glyder,

Yes, that's right. There are no re-quotes on FXCM's spreadbetting MT4 platform. And just like on our Trading Station platform, we offer No Dealing Desk forex execution. You can click here for more information.

Our regular MT4 platform and our spreadbet MT4 platform offer the same trade execution. The only difference is that the spreadbet MT4 has a "spreadbet wrapper" on the regular account, proving potential tax benefits for residents of the UK and Ireland.

Jason

 

[glyder]

Hi Glyder,

Yes, that's right. There are no re-quotes on FXCM's spreadbetting MT4 platform. And just like on our Trading Station platform, we offer No Dealing Desk forex execution. You can click here for more information.

Our regular MT4 platform and our spreadbet MT4 platform offer the same trade execution. The only difference is that the spreadbet MT4 has a "spreadbet wrapper" on the regular account, proving potential tax benefits for residents of the UK and Ireland.

Jason

Thats good news....thanks very much for your prompt reply Jason.

 

[Jason Rogers]

Hi everyone,

A few weeks ago, I mentioned the FXCM App Store was coming soon. Well it is finally here!

The app store launched this week, and it is starting out with around 40 apps for MT4 including scripts, EA’s, and stand-alone apps. This is just the beginning, and we plan to release more apps in the coming months for MT4, Trading Station, and possibly other platforms.

Below are 3 apps you can test for free, and there are more on the website. If you have suggestions for additional apps, please do let me know, and I will ask the programming services team if they can be added to the website.


DailyFX PLUS Trading Signals—Breakout2 (Expert Advisor)

Those of you that use DailyFX PLUS will likely have heard of Breakout2. You can now automate the strategy to run on MT4 rather than having to visit the website to check for updates and then manually place trades on your platform.

Breakout 2 is one of the six strategies in the “classic” DailyFX signals. It’s designed to perform best in market conditions where price is likely to move through an identified support or resistance level. When this happens, trading volume and price volatility often increase. Breakout2 attempts to capitalize on these increases by recommending to buy or sell in the direction of the breakout. We will likely release more of the DailyFX PLUS strategies for MT4 automation, so stay tuned.

Click here to download Breakout 2 for the FXCM MetaTrader 4 platform
​

Trend Identifier (Indicator)

This indicator is pretty self-explanatory, and it incorporates the Aroon indicator for trend identification. The indicator displays two lines: “Aroon up,” which measures the strength of the uptrend, and “Aroon down,” which measures the strength of the downtrend. Both lines fluctuate between values of zero and 100, with values near zero representing a weak trend and values near 100 representing a strong trend.

Click here to download Trend Identifier for FXCM MT4
​

Quick Buy (Script)

This app lets you open trades on MT4 in one click similar to how one-click trading works on the Trading Station desktop platform. You can even pre-set your stop-loss and take-profit levels.

Click here to download Quick Buy for FXCM MT4
​

All of these apps can be used on FXCM’s MetaTrader 4 platform, so if you’re using our MT4, enjoy! If not, you can register for an FXCM MT4 demo. And again, let me know, if you have suggestions for new EA’s, scripts, etc. Stay tuned for an app that will let you automatically share your trades with your friends on facebook and twitter.


Jason

 

[Jason Rogers]

are you looking to do something crafty, like make an EA that follows the signals and provide that EA through the newly crafted "app" store?

Jack,

You were only a couple of days early. We just launched the first DailyFX PLUS strategy as an EA for MT4.

Jason

 

[Jason Rogers]

Attention MT4 demo users

Hi everyone,

Those of you who have an MT4 demo with FXCM will be getting an email about this, but I wanted to give everyone on the forum a heads up.

Due to a server upgrade this weekend, all current MT4 demos on the FXCM MT4 platform will expire this coming Sunday, April 15th. Past trading history of those demos will not be saved. Please take appropriate measures to save any necessary data. You can create a new demo after April 15th.

Why is this necessary? FXCM recently rebuilt the backend of our MT4 platform from the ground up. Now our No Dealing Desk forex execution is seamlessly integrated and auto syncs have been eliminated. We have also integrated functionality for MT4 accounts to work with the MT4 mobile and Trading Station mobile platforms. In order or put through the ability for demos to login to Trading Station and the mobile apps, the old demos have to go unfortunately.

I know that this is an inconvenience for everyone using a current MT4 demo with us, but I hope you will like all the new changes that will come with the new demos.

Jason

 

[TraderHoo]

FXCM uses No Dealing Desk forex execution and therefore does not profit from client losses. Instead, FXCM is compensated by a pip mark-up added to the best bid/ask spread streamed from 10+ liquidity providers on our platform, which essentially acts as a commission. This means our revenue is based on trading volume. It is in our best interest that our clients be successful, so they continue trading with us.

Jason

I had a couple of questions:

- Is the spread markup exactly one pip or does it vary? If it does vary then what are the variables?

- Is it the same across all account types and/or order size?

I am considering using FXCM but I am concerned that with a flat 1 pip markup - 2 pip roundtrip, my trading cost will skyrocket. My usual order is 100k which is $10 per pip. 2 pip round trip means $20 in implied commission whereas I pay ~$2 per 100k pretty much everywhere.

 

[alphadude]

hi Jason; i realized Richard Farleigh is doing a seminar with FXCM.

FXCM

will this event be recorded and be available on FXCM site?

 

[Jason Rogers]

I had a couple of questions:

- Is the spread markup exactly one pip or does it vary? If it does vary then what are the variables?

- Is it the same across all account types and/or order size?

I am considering using FXCM but I am concerned that with a flat 1 pip markup - 2 pip roundtrip, my trading cost will skyrocket. My usual order is 100k which is $10 per pip. 2 pip round trip means $20 in implied commission whereas I pay ~$2 per 100k pretty much everywhere.

Hi TraderHoo,

The spread is the cost for placing a trade, and you only pay it once. The pip mark-up is added to the best bid/ask spread we receive from the banks, and you see the spread with the pip mark-up on the platform. You can get an idea of the pip mark-up by each currency pair by comparing the regular demo account with an active trader demo account. The pip mark-up is fixed and not variable.

Keep in mind that the pip mark-up is included in the spread, and you are only pay the spread once. So if the spread on EUR/USD were 2 pips and you traded 100k, the spread cost would be $20 since each pip is worth $10. If you traded a position size of 10k, a 2 pip spread would be worth $2 since you each pip is worth $1 due to the smaller trade size.

Jason

 

[Jason Rogers]

hi Jason; i realized Richard Farleigh is doing a seminar with FXCM.

FXCM

will this event be recorded and be available on FXCM site?

Hi alphadude,

Thanks for the message. The event is not being recorded. Only available to those that show up in person.

Jason

 

[pboyles]

hi Jason; i realized Richard Farleigh is doing a seminar with FXCM.

FXCM

will this event be recorded and be available on FXCM site?

Alpha dude


Don't worry, I'm going so I'll let you know what happens.

 

[Jason Rogers]

CFD Trading Hours for May 1st Holiday

Just a heads up for everyone.

The following indices will be closed for trading on May 1st due to the holiday in Europe: GER30, FRA40, ITA40, SWE30 and SUI30.

Normal trading hours will resume on May 2nd.

 

[Jason Rogers]

Holiday Rollover

Hi Everyone,

Due to the Golden Week holidays in Japan, all Yen crosses will have 5 days’ worth of rollover interest today except for GBP/JPY which will have 6 days’ worth.

For example, that means if you buy 10k of GBP/JPY and keep the trade open through 5pm New York time today, you will earn $0.66 or 66 cents. On the flip side, if you sell 10k of GBP/JPY and hold that trade open through 5pm, you will pay $1.56. You can always check what amount of rollover you can earn or pay for holding a particular currency pair through 5pm by looking at the RollS and RollB on the Trading Station.

And to keep track of when holidays will affect the number of days of rollover, you can look at the Rollover Calendar at DailyFX.com

Jason