Spread betting at FXCM

[Jason Rogers]

Easter Holiday Trading Hours

Below are the CFD trading hours for Easter. Forex trading hours are as normal.

All times above are in GMT.

 

[Jason Rogers]

FXCM MT4 & Off-Quote Message

It's commonly mistaken that the "off-quote" message on FXCM's MT4 platform is a re-quote. That is not the case as there are no re-quotes when trading with FXCM. The off-quote message will appear when an order is rejected because the available price has moved outside of the slippage parameters set in the order window.

The MT4 platform has a maximum deviation setting which works similar to the Market Range feature on FXCM's own Trading Station platform. When placing an order on MT4, there is a maximum deviation field located in the Order window, see below the area highlighted in yellow:

The maximum deviation feature allows traders to specify the amount of potential slippage they are willing to accept on a market order by defining a range in fractions of a pip. For example, entering 10 would indicate I am willing to accept an order being filled within a range of 1.0 pips from the price I click on if liquidity is not available at the order price. Zero indicates that no slippage is permitted. This is a way you can mitigate slippage, but lowering the max deviation amount can increase the likelihood of the order being rejected (off-quote) especially during volatile market conditions.

Jason

 

[Vasco da Banana]

What happened about Ninja Trader spreadbetting?

 

[Jason Rogers]

What happened about Ninja Trader spreadbetting?

Hi Vasco,

FXCM Spreadbet accounts can use the NinjaTrader platform. If you don't already have a spread betting account with FXCM, you can complete this online application, and then request the Letter of Direction form for NinjaTrader so we can get you setup on the platform.

Just a note to everyone, spread betting accounts are only available to residents of the UK and Ireland. As with any form of speculative trading, your capital is at risk.

Jason

 

[Vasco da Banana]

Hi Vasco,

FXCM Spreadbet accounts can use the NinjaTrader platform. If you don't already have a spread betting account with FXCM, you can complete this online application, and then request the Letter of Direction form for NinjaTrader so we can get you setup on the platform.

Just a note to everyone, spread betting accounts are only available to residents of the UK and Ireland. As with any form of speculative trading, your capital is at risk.

Jason

OK, but is this still the full NT you have to pay for, rather than the free 'Direct' version that would be ideal for SB?

 

[Jason Rogers]

OK, but is this still the full NT you have to pay for, rather than the free 'Direct' version that would be ideal for SB?

If you don't already have a license for live trading on NinjaTrader, you can still get free access through FXCM, if you fund your account with $5000 and trade 500k per month in notional volume. Otherwise, the fee for the platform is $60 per month.

 

[Vasco da Banana]

If you don't already have a license for live trading on NinjaTrader, you can still get free access through FXCM, if you fund your account with $5000 and trade 500k per month in notional volume. Otherwise, the fee for the platform is $60 per month.

There seems to be little or no info on the FXCM and NT sites. Bearing in mind that this is about spreadbetting accounts based on £, how do these figures translate into UK English? And what does 500K per month in notional volume mean as applied to spreadbets on markets other than FX?

 

[Jason Rogers]

There seems to be little or no info on the FXCM and NT sites. Bearing in mind that this is about spreadbetting accounts based on £, how do these figures translate into UK English? And what does 500K per month in notional volume mean as applied to spreadbets on markets other than FX?

Hi Vasco,

I apologize, we are currently in the process of updating the information regarding NinjaTrader across all our websites. You can qualify for free access to NinjaTrader on a spread betting account by depositing the GBP equivalent of $5000 which is currently about £3200. In regards to meeting the 500k notional trading volume requirement, we should be able to take your CFD trading into consideration to qualify. If you send me a private message with your contact details, I can have one of our NinjaTrader specialists follow up with you to discuss what CFDs you would like to trade and determine how many lots per month would get you free access to the platform.

Jason

 

[Jason Rogers]

Holiday Trading Hours for May

Below are the holiday trading hours for CFDs in May. Forex trading hours are as normal.

All times above are in GMT.

 

[Jason Rogers]

Heads up! At 5pm New York time today, there will be quintuple rollover on JPY pairs due to the Golden Week holidays. That means you will earn or pay 5 days worth of rollover interest for any JPY trades that are still open at the stroke of 5pm.

You can use the Rollover Calendar at DailyFX.com to keep up to date on when holidays will affect the rollover schedule.

 

[Jason Rogers]

CFD Trading Hours for Memorial Day

Below are the CFD trading hours for the Memorial Day holiday in the US on Monday, May 27th. Forex will continue trading 24 hours a day as normal.

Times above are in GMT​

I will be out of the office on Monday, May 27th for Memorial Day but will respond to any questions you post, when I return on Tuesday. FXCM's live customer service will be open as usual on Monday. You can call us using one of our international toll-free numbers.

Jason

 

[Jason Rogers]

New trading contest for FXCM clients

Its a shame this competition is not avaiable to spreadbetting account holders. I have a Micro account but not a spreadbetting account and this is the main reason why I haven't opened one.

Hi Hacks,

You asked me in the past about whether FXCM might change the format of the old King of the Micro contest to include spreadbetting accounts. I'm happy to announce the launch of a new contest for all FXCM clients hosted by our partner, Toptradr. Each week, the ten FXCM clients at the top of the contest leaderboard will be awarded prizes from a $7500 prize fund. That's $30,000 in prize money each month and $360,000 each year that FXCM clients will win.

You can begin competing for weekly prizes today. The first prizes will be awarded the week of July 22nd, then each subsequent week thereafter.

Toptradr isn't your typical trading contest. You don't get rewarded for getting lucky or earning massive returns on a few highly leveraged trades. You are rewarded for being a good, consistent trader. To win this contest you have to be able to place low-risk/high-reward trades regularly, and you need to be able to consistently grow the equity in your account. The contest is structured this way because Toptradr (the company) is looking for FXCM clients to back with their own money. The ultimate goal of this contest is to determine who deserves the right to be called the "Top Tradr" and manage the equivalent of a $1,000,000 fund ("Main Contest Prize").

The Main Contest Prize is awarded at the conclusion of a 6-month trading period, which begins once 5,000 FXCM clients have joined Toptradr and "link" their live trading accounts. Toptradr will make an official announcement at that time.

To join the contest, download the Toptradr contest app for iPhone or Android by visiting iTunes or Google Play Store, and "link" your FXCM live trading account. You can then use the app to keep track of the contest and your position on the leaderboard.

Let me know if you have any questions.

Jason

 

[Jason Rogers]

CFD holiday trading hours for July

Below are the holiday trading hours for CFDs in July. Forex trading hours are as normal.

All times above are in GMT.

 

[Jason Rogers]

Re: CFD holiday trading hours for July

Below are the holiday trading hours for CFDs in July. Forex trading hours are as normal.

All times above are in GMT.

Just a reminder: this Thursday is the Independence Day holiday in the US. I will be out of the office for the rest of the week, but will respond to any questions you post, when I return on Monday, July 8th.

If you require immediate assistance, you can call FXCM's live customer service 24 hours a day, 7 days a week using one of our international toll-free numbers.

 

[jago25_98]

FXCM says there is no difference between the SpreadBetting and normal account options...
but doesn't Spread Betting introduce the possibility of leverage and therefore then actually owing the exchange?
I've always stayed away from Spread Betting because of this. I don't want a credit agreement with anyone.

I was also under the impression that Spread Betting can have the price often in large spreads on the pips?

But the tax free status is useful. Is there really no disadvantage for UK residents?

 

[Jason Rogers]

FXCM says there is no difference between the SpreadBetting and normal account options...
but doesn't Spread Betting introduce the possibility of leverage and therefore then actually owing the exchange?
I've always stayed away from Spread Betting because of this. I don't want a credit agreement with anyone.

I was also under the impression that Spread Betting can have the price often in large spreads on the pips?

But the tax free status is useful. Is there really no disadvantage for UK residents?

Hi Jago,

I can't speak for how other brokers offer spread betting, but with FXCM the pricing and trade execution are identical to our non-spread betting accounts. The only difference is the "spread bet wrapper" added to the trading platform and account statements confirming the spread betting status of these accounts, providing potential tax benefits for residents of the UK and Ireland.

In regards to leverage, this is actually available on both spread betting accounts and non-spread betting accounts. Whether you trade a spread betting or a non-spread betting account, your capital is at risk. However, FXCM has a No Debit Balance policy which means you are never risking more money than is in your trading account. You could never owe money due to trading losses.

Welcome to the forum

Jason

 

[NVP]

hey Jason

have you got an e-mail address I can contact you on ?......or could you e-mail me on [email protected] for a chat ?

thanks
N

 

[Jason Rogers]

hey Jason

have you got an e-mail address I can contact you on ?......or could you e-mail me on [email protected] for a chat ?

thanks
N

Hi N,

You can email me at [email protected]

Jason

 

[NVP]

hey Jason I sent the request earlier this week - thanks

let me know if anything can be done at all.....I'm also going to try to switch to a VPS platform at the same time

thanks
N

 

[Jason Rogers]

hey Jason I sent the request earlier this week - thanks

let me know if anything can be done at all.....I'm also going to try to switch to a VPS platform at the same time

thanks
N

Hi N,

I replied to your email. Also, here's a link to our VPS options. As with all forms of trading, when trading forex or CFDs, your capital is at risk.

Jason