Best Thread FXCM Discussion

[Jason Rogers]

Please note there is a holiday in the US on Monday, May 30th for Memorial Day. You can see our holiday trading hours for CFD's here: http://bit.ly/1MF8d2l

Forex trading hours remain unchanged, and you can view the holiday rollover interest schedule here: http://bit.ly/20Hpj6s

I will be out of the office until Tuesday, May 31st and will respond to your forum posts and private messages when I return.

Have a great weekend!

 

[OLdNoob]

I reached out to Rikki and he will follow up with you via email today.

Thanks Jason,

You are a credit to fxcm for the customer service you provide on their behalf, unfortunately Rikki just passed the buck and said that if username and password is correct the blame lies with my fxbook and fxblue.

Then for some unknown reason myfxbooks publisher started working over the weekend:clap:

No one has taken credit

 

[Jason Rogers]

Thanks Jason,

You are a credit to fxcm for the customer service you provide on their behalf

Thanks and it's my pleasure! :smart:

unfortunately Rikki just passed the buck and said that if username and password is correct the blame lies with my fxbook and fxblue.

Then for some unknown reason myfxbooks publisher started working over the weekend:clap:

No one has taken credit

My guess is it may have taken time for the changes made to your FXCM account settings to be recognized by those two websites. I'm glad you now have access to them. You may also want to look at FXCM Trading Analytics.

 

[OLdNoob]

Hi Jason,

Yes I've used the fxcm analytics page however it does not offer me the level of detail I require.

-it does not show ave gain/loss in points only in £ this figure can be misleading if compounding heavily or adding to an account in order to increase size.

-myfxbook shows you your maximum drawdown for each trade as well as how much potential profit was missed (how far from the top/bottom) when the trade was closed.

These were the main 2 but there are many others.

One more thing I would like to see if not already available is the ability to place limit orders to close part of the trade ie close half of a lot trade at the set price.

Again thanks for your continued support.

 

[Jason Rogers]

Hi Jason,

Yes I've used the fxcm analytics page however it does not offer me the level of detail I require.

-it does not show ave gain/loss in points only in £ this figure can be misleading if compounding heavily or adding to an account in order to increase size.

-myfxbook shows you your maximum drawdown for each trade as well as how much potential profit was missed (how far from the top/bottom) when the trade was closed.

These were the main 2 but there are many others.

One more thing I would like to see if not already available is the ability to place limit orders to close part of the trade ie close half of a lot trade at the set price.

Again thanks for your continued support.

Thanks for your feedback regarding Trading Analytics. I've shared it with the team that developed the site. Please let me know if you have any other suggestions for how we can improve it.

In regards to your question about being able to partially close trades with limit orders, this is already possible on Trading Station, if you disable hedging on your trading account. To disable hedging, go to MyFXCM.com to change your account settings.

With hedging disabled, you can create a 50k limit order to sell EUR/USD, and when this order executes, it can partially close an existing 120k long position in EUR/USD leaving you with a 70k long position remaining.

 

[OLdNoob]

Thanks Jason,

Just a shame I cant have the best of both worlds.

 

[Jason Rogers]

Thanks Jason,

Just a shame I cant have the best of both worlds.

You can! :cheesy:

With FXCM it's possible to have two accounts joined under a single login. I do this myself to run multiple strategies. Both accounts and the trades in them are visible when you log into Trading Station.

If you disable hedging in your two accounts, you can use limit orders to partially close trades. You still have the option of holding a long EUR/USD position in one account while holding a short EUR/USD position in the other.

 

[OLdNoob]

Jason,

Back on the topic of Renko charts, I've noticed that they contain tick data which got me thinking would your IT guys not be able to get them to update every x ticks rather then current once per 1 min.

When using smaller brick sizes the delay in the brick printing when price is moving fast is an issue.

I would hate to think that IG Index are better then fxcm in this area.

 

[Signalcalc]

Is there a way I can enter timed orders using trading station (or MT4)? So for example my analysis tells me that a certain instrument only starts to move at the London open and I know I won't be at my desk at 0800hrs I could set an order to automatically open at 0800hrs ?

 

[Jason Rogers]

Jason,

Back on the topic of Renko charts, I've noticed that they contain tick data which got me thinking would your IT guys not be able to get them to update every x ticks rather then current once per 1 min.

When using smaller brick sizes the delay in the brick printing when price is moving fast is an issue.

Thanks for your feedback, OLdNoob

I've shared it with our software developers, and perhaps they can make the Renko chart view on Trading Station update every tick in the future.

better then fxcm in this area.

Never! but if you prefer other Renko charts, by all means use them. As long as you trade with us.

Seriously though, FXCM offers many charting options besides Trading Station. For example, a lot of traders like our NinjaTrader option for the advanced charting features it offers including real time Renko charts. It's free to set up an FXCM demo for NinjaTrader. I recommend it so you can try these charts for yourself.

 

[timsk]

Seriously though, FXCM offers many charting options besides Trading Station. For example, a lot of traders like our NinjaTrader option for the advanced charting features it offers. It's free to set up an FXCM demo for NinjaTrader. I recommend it so you can try these charts for yourself.

Hi Jason,
Sorry to butt in - but I'm with OLdNoob on this issue 100%. Restricting non time based charts such as Renko, Point & Figure and 3 Line Break to a data feed based on units of time makes no sense at all. Sure, it's fine for panning out and taking a macro view - or if you're a swing or position trader. But, for intraday traders, the ability to specify Renko, PnF or 3 Line Break charts with (X) ticks of data is an absolute must. If that can be achieved, I'll look at FXCM in a whole new light. As things stand, I'm sorry to say that IG have a large edge regarding this particular issue. On everyone!

Tim.

 

[Jason Rogers]

Is there a way I can enter timed orders using trading station (or MT4)? So for example my analysis tells me that a certain instrument only starts to move at the London open and I know I won't be at my desk at 0800hrs I could set an order to automatically open at 0800hrs ?

Hi Signalcalc,

While such time-based order functionality is not available on these platforms by default. A custom strategy or EA to place orders in this way can be coded. For free resources to code this yourself, you can visit FXProgrammers.com

If you would like to have this functionality coded for you, our Programming Services department can help. You can request a quote for their service based on the complexity of your program and qualify for a discount covering some or all of the cost of the service by depositing funds in an FXCM account.

 

[Jason Rogers]

Hi Jason,
Sorry to butt in - but I'm with OLdNoob on this issue 100%. Restricting non time based charts such as Renko, Point & Figure and 3 Line Break to a data feed based on units of time makes no sense at all. Sure, it's fine for panning out and taking a macro view - or if you're a swing or position trader. But, for intraday traders, the ability to specify Renko, PnF or 3 Line Break charts with (X) ticks of data is an absolute must. If that can be achieved, I'll look at FXCM in a whole new light.

Thanks Tim, your feedback is always welcome here.

I appreciate that seeing real time Renko charts and the other chart types you mentioned on our Trading Station platform (not just NinjaTrader) is of interest to both you and OLdNoob. I'll be sure to convey that to our development team.

 

[OLdNoob]

Jason,

Had a look at Ninja Trader and well what can I say, why would I pay for a product that is inferior to what I already have for free:smart:

With regards to the Renko charts You guys have created I think you have to rename them as on the smaller brick sizes you end up with a very different looking chart to what you get with Ninja trader.

I may even end up prefering the marketscope charts as they are so if they do get changed there should be an option to update them by time or tick.

the charts below have the same brick size, both from fxcm data feed and prie displayed based on the ask.

 

[Jason Rogers]

Jason,

Had a look at Ninja Trader and well what can I say, why would I pay for a product that is inferior to what I already have for free:smart:

With regards to the Renko charts You guys have created I think you have to rename them as on the smaller brick sizes you end up with a very different looking chart to what you get with Ninja trader.

I may even end up prefering the marketscope charts as they are so if they do get changed there should be an option to update them by time or tick.

the charts below have the same brick size, both from fxcm data feed and prie displayed based on the ask.

Like you, I prefer Trading Station and its Marketscope charts. However, every trader has his own preference, which is why FXCM offers multiple trading and charting options.

Thanks again for your feedback on our Renko charts. I've shared it with our software development team.

 

[Jason Rogers]

Beta Test FXCM's New Web-based Platform!

Hi Everyone,

We're currently developing a new trading platform, and I invite you to join our beta testing group.

While this new platform offers charting and trading functionality on par with Trading Station Desktop, it's web-based. That means it requires no downloading and works on all computers including Macs to offer you convenience and greater accessibility with many bells and whistles. For example, we're integrating unique features into the platform like our economic calendar, videos, and news feeds with more to come!

WE WANT YOUR FEEDBACK! Tell us what you want in the platform as part of your everyday trading experience. Gathering valuable feedback on your initial reaction and level of satisfaction for the platform will help us identify areas that need improvement.

​

Beta testing the platform is easy.

1. Log in using your existing account credentials at https://www-beta.fxcorporate.com/
2. Use the platform as you normally would. NOTE: Beta testing is only available on demo accounts.
3. Make the platform "your own". Move things around, use any features you want, etc.
4. Provide your feedback, suggestions, bugs or errors via email to [email protected]

We're very excited about this platform and look forward to your feedback and comments.

In appreciation for your time, we'll give you $300 free credit to spend in the FXCM App Store. Once we receive your feedback, we'll send you a promotional code to use at FXCMapps.com. It's that simple.

Please let me know if you have any questions.

Thanks,
Jason

 

[Jason Rogers]

FXCM Updates Margin Requirements Post British Referendum

Hi Everyone,

We have begun to reduce margin requirements on select instruments back to pre-British referendum levels and will continue to do so gradually based on market conditions.

For the most up-to-date margin requirements that apply to your account, please look at the minimum margin requirement (MMR) column of the Simple Dealing Rates window on your Trading Station. If you use Mirror Trader, MT4 or NinjaTrader, your account login details will give you access to all three versions of Trading Station (desktop, web and mobile) to check your MMR.

Your exact MMR will depend on your trading entity (FXCM UK, US or Australia), account denomination (GBP, USD, AUD, etc.) and whether you have a Mini or Standard account. The screenshot above is from a Standard British pound-denominated FXCM UK account. The MMR for GBP/USD is 10.00, which means I have to set aside £10 as used margin (Usd Mr) for each micro lot (1K) position I have open.

Carefully consider how margin changes may impact your open positions and resting orders.

Please Note: In case market conditions become very volatile, we could raise margin requirements further. Please monitor your usable margin (Usbl Mr) closely, making sure it stays above zero. We recommend a usable margin that's at least 80% of your account equity (usable margin plus used margin).

Remember that forex trading can result in losses that could exceed your deposited funds and therefore may not be suitable for everyone, so please ensure that you fully understand the risks involved.

 

[Jason Rogers]

Please note there is a holiday in the US on Monday, July 4th for Independence Day.

• You can see our holiday trading hours for CFD's here: Holiday Trading Hours | CFDtrading.com
• Forex trading hours remain unchanged, and you can view the holiday rollover interest schedule here: Forex Rollover Calendar | DailyFX.com

I will be out of the office until Tuesday, July 5th and will respond to your forum posts and private messages when I return.

Have a great weekend!

 

[Jason Rogers]

SEC bans Broker-Dealers from retail forex transactions

Recently I've gotten many questions about this news: SEC bans Broker-Dealers from retail forex transactions

I thought it would be good to add some clarification here for traders in the US:

On May 20th of this year, the US Securities and Exchange Commission (SEC) announced that as of 7/31, regulated Broker-Dealers will be prohibited from offering retail forex trading. The prohibition also applies to Broker-Dealers who are dually registered as a Futures Commission Merchant or a Forex Dealer Member, such as Wedbush Securities, Interactive Brokers and Phillip Capital. Phillip Capital decided fairly quickly to halt its retail forex operation altogether in the US. Based on recent statements, it appears Interactive Brokers has been similarly affected. FXCM on the other hand is not a registered Broker-Dealers and is not impacted by the prohibition in anyway.

FXCM will continue to offer FX services to US customers.

In fact, latest financial data from the CFTC show traders have more money on deposit with FXCM than any other US-regulated forex broker.

If you currently have an account with a broker that can no longer offer forex trading in the US, I encourage you to consider us particularly for the No Dealing Desk (NDD) execution and low spreads we provide to all Standard and Active Trader accounts.

High volume traders might be especially interested in a trial of our new Market Depth indicator. (free to all Standard and Active Trader account holders)

 

[spinola]

Hi Jason, has or can FXCM offer clients access to Forex real time squawk services ? Including order flow levels would be nice.

Has it been discussed at management levels before ?