Spread betting at FXCM

[tar]

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?

Totally different mate , in that case there is something stolen from me but there is no evidence , in the case of Fxcm the question is did they really steal from their UK clients according to the FSA rules ? it is not about the evidence here as there are track records and statements for all the transactions ...

 

[pboyles]

That is a question that Jason has steadfastly ignored despite being asked on numerous occasions. What does that tell you? Do you seriously think they picked only the US market to do this, the US authorities being the most proactive in detecting these things?

 

[tar]

That is a question that Jason has steadfastly ignored despite being asked on numerous occasions. What does that tell you? Do you seriously think they picked only the US market to do this, the US authorities being the most proactive in detecting these things?

To do what ? it is your own opinion that's stealing , others may see it differently , IMO if you are so sure then the right way to do it is to file a complaint to the FSA against FXCM ...

 

[pboyles]

To do what ? it is your own opinion that's stealing , others may see it differently , IMO if you are so sure then the right way to do it is to file a complaint to the FSA against FXCM ...

Where did I call it stealing?

 

[tar]

As per your house example and that comment :

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

 

[pboyles]

As per your house example and that comment :

I said they took from, not stole from.

 

[tar]

I said they took from, not stole from.

lol ok

 

[tar]

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

Apparently the FSA is aware of this positive slippage policy :



"FXCM disclosed in a quarterly SEC filing that the U.K. Financial Services Authority (FSA) launched an inquiry into the firm’s past trade execution practices.

In the filing the company stated that: “Although we are in the process of complying with the FSA’s requests, we have not been formally notified whether or not the FSA intends to take any action against us with respect to our trade execution practices.”

The FSA investigation follows a similar probe by the U.S. regulator Commodity Futures Trading Exchange (CFTC) in 2011, in which the CTFC alleged that FXCM failed to change the price a customer received on a currency transaction if an exchange rate became more profitable for the investor while a trade was in progress. However, according to the CFTC, FXCM did amend the price if the rates shifted in FXCM’s directional benefit.

FXCM in August 2011 agreed to pay about $14.2 million in a settlement related to those charges.

In Friday’s filing, FXCM estimated that its possible loss related to the FSA investigation and other claims or litigation could be up to $5 million, as of Sept. 30.

Last week FXCM reported quarterly operating results in which third-quarter income increased 33% to $4.5 million on revenues of $114.9 million."

Source : Forex Magnates

 

[Jason Rogers]

This Thursday is the Thanksgiving Holiday in the US which will impact the rollover schedule and trading hours for certain CFD products. So please take note:

1. Rollover: The JPY pairs will have 5X rollover and all other pairs will have 4X rollover today as a result of the holiday. There will be 0 rollover for all pairs tomorrow.

2. Forex Trading: There are no changes to forex trading hours. Trading will continue through Friday as normal and close on Friday at the normal time of approximately 4:55pm ET. Please be aware that liquidity will likely be lower than normal which could impact spreads.

3. CFD Trading: The times listed below show the change to CFD trading instruments in US Eastern Time (GMT -5 hours). (CFD trading is not available to residents of the United States)

​

Let me know if you have any questions.

Jason

 

[Jason Rogers]

Holiday Trading Hours for Forex and CFDs

All times below are in Eastern Standard Time (EST)


Forex Trading Hours and FXCM Customer Service Hours

CFD Trading Hours for Christmas

CFD Trading Hours for New Year's

Happy Holidays from FXCM!​

 

[Jason Rogers]

Seasons Greetings!

In my last post, I mentioned our holiday trading hours. In addition, it's important to note that with holidays comes holiday rollover. Here's a look at what the rollover interest schedule will be like from now until the end of the year.

December Rollover Calendar from DailyFX.com

Happy Holidays to Everyone!

Jason

 

[Jason Rogers]

Just to let everyone know, I will be out of the office until January 2, 2013, so any questions you post for me will be answered when I return. FXCM customer support will remain open 24 hours a day except for the holiday periods mentioned previously in the holiday hours post.

Wishing you a happy holiday and a prosperous new year!

Jason

 

[dazrobson]

can anyone please tell me the best way to run FXCM trader station 2 on macbook pro ?
i have it running with crossover, its very slow at loading charts and keeps crashing every now and then.
laptop is brand new and top spec.

regards

 

[Jason Rogers]

can anyone please tell me the best way to run FXCM trader station 2 on macbook pro ?
i have it running with crossover, its very slow at loading charts and keeps crashing every now and then.
laptop is brand new and top spec.

regards

Hi Dazrobson,

Welcome to the forum

I checked with one of our tech specialists who's a Mac user, and he suggested these 3 options to run Trading Station on your Mac:

1. Use a virtualization tool like VMware Fusion or Parallels to run Windows on your Mac, or
2. Use virtual private server (VPS) to run the platform. This has the added advantage that you can keep your platform running 24 hours a day, even when your computer is not connected to the internet, or
3. Use Trading Station Web instead of Trading Station Desktop. The web version of our platform will run on your web browser but lacks the more advanced charting features of our desktop version, such as automation, backtesting and custom indicators.

Jason

 

[Jason Rogers]

Holiday Trading Hours for January

There are two holidays in January that will affect CFD trading hours. Details are below. All times are in EST.

Forex will trade 24 hours a day as normal.

 

[Jason Rogers]

Just a reminder: HKG33 will be closed for trading on Monday, February 10th through Wednesday, February 12th in observance of the Lunar New Year.

Here's wishing you health and prosperity in the Year of the Snake :clap:

 

[Jason Rogers]

Just a reminder: HKG33 will be closed for trading on Monday, February 10th through Wednesday, February 12th in observance of the Lunar New Year.

Here's wishing you health and prosperity in the Year of the Snake :clap:

Correction on the dates: HKG33 will be closed for trading until Wednesday, February 13th at 8:15pm New York time.

 

[Jason Rogers]

Next Monday is President's Day in the US. Below are the holiday trading hours for CFDs. All times are in EST. Forex will continue trading as normal.

Also worth noting is that the G20 meeting in Moscow will run through this Saturday. Recent comments from the G7 have already led to big moves in the yen this week, and more volatility is possible: Eurozone crisis live: Currency wars come to Moscow as G20 meets | Business | guardian.co.uk

 

[hacks]

Jason, in clause 27.1 of your terms and conditions (under "Gaming and/or abusive strategies"), it says that trades that take advantage of latent prices may be revoked. If you are a no-dealing desk broker, why would you care if a client takes advantage of latent prices displayed by your liquidity providers (I don't by the way, but I would like to know)?

Also, it says that:

"Accounts that rely on gaming and/or abusive strategies may at the Company's sole discretion be subject to intervention by the Company and the Company's approval of any Orders."

Wait a minute, I thought FXCM was no dealing desk? So you are a dealing desk then, if a client trades "gaming and/or abusive strategies"?

 

[Jason Rogers]

Jason, in clause 27.1 of your terms and conditions (under "Gaming and/or abusive strategies"), it says that trades that take advantage of latent prices may be revoked. If you are a no-dealing desk broker, why would you care if a client takes advantage of latent prices displayed by your liquidity providers (I don't by the way, but I would like to know)?

Also, it says that:

"Accounts that rely on gaming and/or abusive strategies may at the Company's sole discretion be subject to intervention by the Company and the Company's approval of any Orders."

Wait a minute, I thought FXCM was no dealing desk? So you are a dealing desk then, if a client trades "gaming and/or abusive strategies"?

Hi Hacks,

I'm glad you asked. When reading these terms and conditions, it's important to keep in mind that they have to cover both our execution models. FXCM offers two types of forex execution to our clients: No Dealing Desk (NDD) and dealing desk. While FXCM believes that NDD execution provides the best overall trading experience, we also offer dealing desk execution as an option for traders whose primary concern is low spreads. Because we create the prices on which you trade, FXCM's dealing desk is able to offer spreads that are 1 pip lower than those provided by the No Dealing Desk (NDD) model for the most popular currency pairs.

Dealing desk execution is used by most brokers in the forex industry. However, FXCM's dealing desk is different because we use the FXCM NDD price feed as a base to derive prices and execute orders. This means that our dealing desk execution shares important features with our NDD execution such as no requotes and no restrictions on stops and limits. But no matter what similarities the two execution models share, there are fundamental differences between them, and you may experience certain trading limitations when you trade with our dealing desk. This table has more info comparing the two execution models: fxcm.com/advantages/forex-execution/compare-execution-types/

Jason