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[cu2]

Jason as you work for FXCM you wouldn't even be allowed to say what goes on behind the scenes.

But FXCM would have still the capability to manipulate trades or widen spreads. Even if you don't the interbank do it anyway. Just look at how the rollover rates are, it is just so obvious. I thought that traders play against other players but not the Banks which is 10 times worse cause they are using our own money to enable them do it then.

Why then are Australian FXCM based in NZ - because of the regulations, so anybody complains to ASIC then it wont effect you?

If FXCM screw me just once I'II back off as quick as 1,2,3.

Quite frankly I dont know how bad brokers survive. If customers get to win then they will place more trades and up the stakes. If not they will leave. Is that a good way to deal with business. Obviously it must be otherwise we wouldnt be having troubles.

 

[Umbrella]

Jason, thank you for taking the time to post such a detailed reply. I'm afraidn I'm still not convinced. If I were trading in standard lots then there is a chance FXCM can route the order to ECN. However, what happens when small clients trade $1 ppt or even less? All the FXCM mini accounts (for newbies) will have this issue. Traditionally, on all SB firms I know of, dealers do not hedge these small trades - nor is it possible to 'hedge' a $1 ppt position on cable which is 1/10 of a standard lot. For these small traders (newbies like many of us here on this forum), FXCM will have to act as the OTC counterparty, don't you think?

 

[Jason Rogers]

Jason, thank you for taking the time to post such a detailed reply. I'm afraidn I'm still not convinced. If I were trading in standard lots then there is a chance FXCM can route the order to ECN. However, what happens when small clients trade $1 ppt or even less? All the FXCM mini accounts (for newbies) will have this issue. Traditionally, on all SB firms I know of, dealers do not hedge these small trades - nor is it possible to 'hedge' a $1 ppt position on cable which is 1/10 of a standard lot. For these small traders (newbies like many of us here on this forum), FXCM will have to act as the OTC counterparty, don't you think?

Sorry about the delay in reply...back from a long break.

For micro lots on FXCM Micro accounts, FXCM acts as the counter-party managing the risk. Only 2 out of the 10 banks we deal with will take micro lots directly at the moment. So execution would suffer for everyone if all micro lots were offset individually with the banks.

All of the standard 10k accounts with FXCM UK offer direct market access. This includes spread bet accounts. All orders, including mini lots where you $1 ppt position, have straight through processing where each trade is hedged individually with a bank. The banks will readily accept mini lots. Micro lots not so much.

 

[Black Swan]

gotta say I don't know how Jason and, for example Simon at C.S. keep their patience when constantly dealing with these criticisms...just keep on being the professionals in these disputes guys...

Strange thing is, as a consistently profitable fx swing trader (whether dma or spread-betting) I never seem to suffer the litany of abuses so many other losing traders claim...could it be you guys, your technique, or the complete lack of a proven edge? Think about it :whistling..