Best Thread FXCM Discussion

[Jason Rogers]

Here's a video we put together visually explaining how FXCM's NDD forex execution works:

Price Improvements: What are they? How they work? and

A price improvement means that your order was filled at a better price than requested (positive slippage). There are 3 times during which price improvements will be most noticeable during trading: weekend gaps, news trading, and scalping. Every order can receive a Price Improvement. This includes market, entry, limit and stop orders. However, FXCM recommends that traders use limit entry orders to open positions and limit orders to close positions because these order types can only receive your requested price or better.

We've put together 3 short videos with examples of price improvements during each of the 3 times I mentioned above.

Weekend Gaps

http://www.youtube.com/watch?v=fN2zniJYWKA


News Trading

http://www.youtube.com/watch?v=LZYNSnP0ZWY


Scalping

http://www.youtube.com/watch?v=wpcQ7YMGVxo

* All Price Improvements are contingent upon available liquidity at execution.

 

[Jason Rogers]

Holiday Trading Hours

This Thursday Nov. 25, 2010 is the U.S. Thanksgiving Day holiday. Below are important announcements regarding trading hours and rollover.

Forex
Please be aware that there are NO CHANGES to forex trading hours. Forex trading will continue trading until the normal close time of 4:00pm ET on Friday. Even though there are no changes to trading hours, please be aware that there may be less liquidity due to the holiday which could affect market volatility and spreads.


CFD's
Certain CFD products will have modified trading hours due to the holiday. Below is a table and all times are in ET (New York time).

Rollover

Due to bank holidays this week, there will be 4X rollover on Tuesday Nov. 23rd and 0 rollover on Wednesday Nov. 24th. You can find the rollover calendar on DailyFX here www.dailyfx.com/frollover .


Lastly, I will be out of the office starting tomorrow (Tuesday Nov 23rd). Any questions posted after today will be answered on Monday Nov. 29th.

Cheers,

Jason!

 

[Jason Rogers]

Holiday Trading Hours

 

[Jason Rogers]

FX Trading Station II Update: December 17, 2010

An FXTSII update is currently planned for December 17 (next Friday) after the trading close. FXCM traders should be receiving an email within the upcoming days regarding the new features, but I'll give everyone on the forum a first look at what new features are being released. This post contains trading updates to the FX Trading Station II. I will highlight upgrades to Marketscope in another post later today.


1. Pip Value and Margin Calculations in Order Window
The market order and entry order windows will display the pip value and margin requirement corresponding to the amount selected. This will let you know the amount of margin you will use when the trade is opened and how much each pip is worth based on the trade size selected. In the image below, I have selected a trade size of 125k EUR/USD. The per pip tells me the pip value for this trade size will be equal to $12.50 and the Used Margin will be $937.50.

2. Usable Margin Column Color as % of Usable Margin
The Usable Margin column will change colors depending on how much margin you have remaining. This is meant to give you an idea of when you are in danger of receiving a margin call.

Green = Usable Margin > 30%
Orange = Usable Margin 10-30%
Red = Usable Margin < 10%

3. Time In Force
Fill or Kill (FOK) will be available for At Best orders, and IOC (Immediate or Cancel) and FOK will also available for Market Range orders. The time in force option can be selected by clicking on the Advanced button. These new options will help you better manage your order execution, and I will see about getting some examples written up.

4. Filter in Symbol Subscription List
The new filter field allows you to easily search for currency pairs in the symbol subscription list. For example, in the image below I have filtered the list by “aud”. This finds all of the currency pairs containing the Australian Dollar. This makes finding currency pairs much easier to add or remove rather than having to go through the entire list.

New Marketscope features will be highlighted in a separate post.

 

[Jason Rogers]

FX Trading Station II Update: December 17, 2010

An FXTSII update is currently planned for December 17 (next Friday) after the trading close. FXCM traders should be receiving an email within the upcoming days regarding the new features, but I'll give everyone on the forum a first look at what new features are being released. This post contains trading updates to the FX Trading Station II. I will highlight upgrades to Marketscope in another post later today....

This update was delayed unfortunately due to a issue we ran into while completing testing and quality assurance. But it's better to push it to another weekend than for you to have problems when the update is released.

At the moment, it's looking like this update will go through the weekend of January 7, 2010. I will have confirmation of this the first week of January.

 

[Jason Rogers]

Re: Holiday Trading Hours

Hello Everyone,

I will be away from the forum from Dec 22, 2010 until Jan 3, 2011. Any questions will be answered on Jan 4, 2010. As a reminder, please take note of the changes to FXCM's trading and support hours listed in the image below.

From myself and everyone at FXCM, have a happy holiday and a prosperous new year!!

Cheers,

Jason

 

[Jason Rogers]

Re: Holiday Trading Hours

Hello Everyone,

I will be away from the forum from Dec 22, 2010 until Jan 3, 2011. Any questions will be answered on Jan 4, 2010. As a reminder, please take note of the changes to FXCM's trading and support hours listed in the image below.

From myself and everyone at FXCM, have a happy holiday and a prosperous new year!!

Cheers,

Jason

One more thing I almost forgot to mention...the forex rollover for many currency pairs will also be impacted due to the holiday. DailyFX has a rollover calendar on the website detailing any rollover changes for each currency pair.

-Jason

 

[Jason Rogers]

This update was delayed unfortunately due to a issue we ran into while completing testing and quality assurance. But it's better to push it to another weekend than for you to have problems when the update is released.

At the moment, it's looking like this update will go through the weekend of January 7, 2010. I will have confirmation of this the first week of January.

To confirm...the platform update is being released this weekend (January 7, 2010). There's no need to uninstall and reinstall the platform. When you login over the weekend, there will be a notification that there is a new update to install. The platform will go through an auto-install updating the existing FXTSII on your computer. Once that is complete, you will be able to login and use the updated platform.

Here's an overview of the features being added to the FX Trading Station II and Marketscope charts:

1. Margin Alerts - The color of the Usable Margin (Usbl Mr) column in the Accounts window will change according to the % of remaining usable margin. There is also a new margin alert that will inform you when your margin has fallen below specified levels.
   
   
2. Per Pip and Margin Indicators - Per Pip and Margin indicators are added to the Create Market Order and Create Entry Order dialogs.
   
   
3. Time In Force - Fill or Kill (FOK) available for At Best orders. IOC and FOK are also available for Market Range orders.
   
   
4. Symbols Subscription Filter - You can now filter the Symbol Subscription List by whatever you type.
   
   
5. Amount Changes - The Amount drop-down list now has a final row that says “Other.” When “Other” is selected, you can type in any amount you want.
   
   
6. Chart Channels - New Equidistant Channel and Regression Channel tools are available.
   
   
7. New Indicators Added

Moving Averages:
- SMMA(Smoothed Moving Average)
- VIDYA(Chande’s Variable Index Dynamic Average)
- WMA(Wilders Moving Average)

Bill Williams:
- AC(Acceleration/Deceleration)
- Alligator
- AO(Awesome Oscillator)
- Gator Oscillator

Volume Indicators (Tick volume based):
- AD(Accumulation/Distribution)
- CHO(Chaikin Oscillator)
- CMF(Chaikin Money Flow)
- OBV(On Balance Volume)

Oscillators:
- CMO(Chande Momentum oscillator)​

 

[fountain_eee1]

Nice post..I think It will be helpfull...
robot forex

 

[Jason Rogers]

Here's a video we put together visually explaining how FXCM's NDD forex execution works...

Back in October I posted a video which explains how FXCM's NDD forex execution works. Here is a video comparison explaining dealing desk execution when your broker is acting as the market maker.

Dealing Desk Execution

And for comparison, FXCM's NDD forex execution:

FXCM's NDD Forex Execution

 

[Jason Rogers]

Price Improvements During News Events

The NFP employment report is being released this Friday, and this report can cause a lot of market volatility. If you use limit entry and limit orders to enter and exit trades, then you could receive positive slippage on those trades. This means your fill would be at a better price than what you requested. Here's how price improvements could improve your order execution during news events:

http://www.youtube.com/watch?v=LZYNSnP0ZWY&feature=related

 

[>Apocalypto<]

Heads up all FXCM have a class action lawsuit against them.

Class Action Lawsuit Against FXCM. http://finance.yahoo.com/news/Morgan-Business-Trial-Group-pz-2388123164.html?x=0&.v=1

The Plaintiff, William H. Sanders, of Muscogee, Oklahoma, brought the action on behalf of himself and all other similarly situated FXCM customers, accusing FXCM of fraud by misrepresenting itself as a trading platform that is free from dealer intervention or manipulation. Instead, Sanders alleges, FXCM uses a number of devices and tricks, including software applications, designed specifically to interfere with customers’ trades.
The Complaint further alleges that FXCM engaged in a pattern of racketeering activity by collaborating with its software developers and programmers to develop a “diabolical” software application that provides FXCM with a myriad of tools and system commands with which to interfere with customers’ trades, including routing trades to “slow” servers and sending false “error” messages when customers attempt to close out profitable trades.

More info on this at Forex factory http://www.forexfactory.com/showthread.php?t=280376

Stock also diving off the news.

 

[dazzer_fx]

Hi all.

I have recently opened a FXCM account and wanted to share my experience of
using them.

I placed a buy trade this morning on their Trading Station platform of 100 lots
on the USD/CAD at 0.98768 with a stop at 0.98610. The 2pm spike took out my
stop and closed the trade.This wasn't a guaranteed stop but it should around
this level. The system actually close me out at 0.95659 wiping out 2/3 of my account.
This is some 300 pips below where the actuall market was.

I spent 20 minutes holding for an operator to be told they would open an investigation
that can take up to 5 days to resolve. Looks like I have a worrying few days.

I have never had any such problems with the other SB companies I use.

Daren.

 

[scose-no-doubt]

wft is 100 lots? I thought that a lots was a contract or $100000 notional translating to $10 for a move of the 4th dp. 100 lots there is what? US$10?

 

[dazzer_fx]

wft is 100 lots? I thought that a lots was a contract or $100000 notional translating to $10 for a move of the 4th dp. 100 lots there is what? US$10?

10 lots is around 63p on this pair with them, anyway look at the close price?? it is totally
out. 0.95659 at 14.00 today ??

 

[Jason Rogers]

Hi all.

I have recently opened a FXCM account and wanted to share my experience of
using them.

I placed a buy trade this morning on their Trading Station platform of 100 lots
on the USD/CAD at 0.98768 with a stop at 0.98610. The 2pm spike took out my
stop and closed the trade.This wasn't a guaranteed stop but it should around
this level. The system actually close me out at 0.95659 wiping out 2/3 of my account.
This is some 300 pips below where the actuall market was.

I spent 20 minutes holding for an operator to be told they would open an investigation
that can take up to 5 days to resolve. Looks like I have a worrying few days.

I have never had any such problems with the other SB companies I use.

Daren.

Hi Daren,

I see that we have a trade audit open for you, and we will work to get it completed as soon as possible. A stop loss order is an at best market order to fill at the best price available, but I agree that the price your order was filled at looks to be extreme. With our NDD system there are multiple banks providing liquidity. The chart is showing the best bid/ask price being quoted so it is possible that a trade could be filled at a price not reflected on the chart if there was liquidity available at that price. Regardless, I will see to it that we have a response for you as soon as possible. Please let me know if you have any questions.

Jason
FXCM

 

[dazzer_fx]

Hi Daren,

I see that we have a trade audit open for you, and we will work to get it completed as soon as possible. A stop loss order is an at best market order to fill at the best price available, but I agree that the price your order was filled at looks to be extreme. With our NDD system there are multiple banks providing liquidity. The chart is showing the best bid/ask price being quoted so it is possible that a trade could be filled at a price not reflected on the chart if there was liquidity available at that price. Regardless, I will see to it that we have a response for you as soon as possible. Please let me know if you have any questions.

Jason
FXCM

Hi Jason

I have already phoned again this afternoon and one of your employees explained that
he believed one of the banks had returned a bad tick and it had effected many others
not just me. My stop loss was set for a maximum of around -£120 on a non guaranteed
basis, you actually closed my position for -£1971. This was at 2pm gmt and there was
plenty of liquidity I was watching at the time. Your employee also confirmed there was
obviously a problem your end but still I have to wait up to 5 days while you sort it out.
Do you think thats fair?

I have been with IG for 5 years and have never had a problem like this, so I feel a little
foolish for venturing elsewhere. Unfortunately my confidence in your company has just
disappeared. Please rectify this asap so you can regain at least some of that confidence.

Daren.

 

[dazzer_fx]

Hi Jason

I have already phoned again this afternoon and one of your employees explained that
he believed one of the banks had returned a bad tick and it had effected many others
not just me. My stop loss was set for a maximum of around -£120 on a non guaranteed
basis, you actually closed my position for -£1971. This was at 2pm gmt and there was
plenty of liquidity I was watching at the time. Your employee also confirmed there was
obviously a problem your end but still I have to wait up to 5 days while you sort it out.
Do you think thats fair?

I have been with IG for 5 years and have never had a problem like this, so I feel a little
foolish for venturing elsewhere. Unfortunately my confidence in your company has just
disappeared. Please rectify this asap so you can regain at least some of that confidence.

Daren.

Update: FXCM have agreed to honour my original stop and adjust my account by +£1865.03 but it can take up to 48hrs for this adjustment to be made.

All in all a stressful day but they have put right their mistake which is what matters
most.

Daren.

 

[Black Swan]

Hi all.

I have recently opened a FXCM account and wanted to share my experience of
using them.

I placed a buy trade this morning on their Trading Station platform of 100 lots
on the USD/CAD at 0.98768 with a stop at 0.98610. The 2pm spike took out my
stop and closed the trade.This wasn't a guaranteed stop but it should around
this level. The system actually close me out at 0.95659 wiping out 2/3 of my account.
This is some 300 pips below where the actuall market was.I spent 20 minutes holding for an operator to be told they would open an investigation
that can take up to 5 days to resolve. Looks like I have a worrying few days.

I have never had any such problems with the other SB companies I use.

Daren.

That is absolutely fooking shocking I've never experienced or read anything like that before, from any broker (or SB firm), it's beyond slippage in a fast moving market it's entered a parallel universe. I'm so glad you got it sorted...

 

[dazzer_fx]

That is absolutely fooking shocking I've never experienced or read anything like that before, from any broker (or SB firm), it's beyond slippage in a fast moving market it's entered a parallel universe. I'm so glad you got it sorted...

Thanks BS, this was a real eye opener for me