Discuss Fxcm.com

[meral]

What's The Leverage Of FXCM Demo Account

Hey All,

I have been playing on FXCM demo account and I want to open a live account with 50USD. I lost deliberately 49.950 dollars on the demo version and started playing again with 50 Usd for a while. I dont know if it will be the same once I open a live micro account. It says the leverage is 1:400 in micro account, what's the leverage for the demo version?

Thanks
Meral

 

[Jason Rogers]

Hey All,

I have been playing on FXCM demo account and I want to open a live account with 50USD. I lost deliberately 49.950 dollars on the demo version and started playing again with 50 Usd for a while. I dont know if it will be the same once I open a live micro account. It says the leverage is 1:400 in micro account, what's the leverage for the demo version?

Thanks
Meral

Hi Meral,

Yes, FXCM UK accounts have access to 400:1 leverage. Your micro account will be setup at 200:1 leverage and you can change your leverage online to 400:1 with a few clicks. If you are in the US, the maximum available leverage is 50:1.

Good luck with your new account!


- Jason

 

[Jason Rogers]

Two brokers were suggested FXCM and Thinkorswim. Regarding FXCM I read some bad things about it and am not keen to trade with them. Regarding thinkorswim it is not very user friendly especially for me who has mostly MT4 experience. Can anyone suggest an alternative Forex broker that use the close of the New York trading session which is 5:00pm EDT as the close of their daily bars????? Thanks a million!!!

Hi fergal1,

Yes, there is a lot of feedback about FXCM on forums, some good and some bad. While reading reviews can help, I would recommend that you look into what each broker really offers.

If you're interested in trying out FXCM with a free $50 currency trading account, visit http://www.forexmicrolot.com/lp-free-micro-account-cnbc-ja.jsp.

On the topic of choosing a broker, there’s a lot to consider including safety of funds, regulation, execution model, ease of use, spreads, and customer service for example.

First off, you have to be comfortable enough with a broker's financial position and transparency to deposit money and open an account.

With FXCM, we’re publicly traded on the New York Stock Exchange (ticker: FXCM) so you can easily see our financials and operating metrics. For example, as of June 30, 2011, FXCM Inc. had over $200 million in cash and no debt. Along with being publicly traded and having transparency over our financial performance, FXCM has a local presence in the UK and is FSA (Financial Services Authority) regulated.

With execution, our No Dealing Desk (NDD) forex execution model allows you to trade forex with no requotes, no dealer intervention, and no order restrictions on how close you can place stop/limit/entry orders to the current market price. We pass along these benefits because we execute each order back to back with one of our price providers, we don’t take a market position and we make about 1 pip on every order placed regardless of trade profitability. Our spreads are based on the best buy and sell price received from our price providers (plus our markup).

However, Dealing desk brokers may take the opposite side of your trades and may make more money if you close trades with a loss. You don’t have to worry about this potential conflict of interest at FXCM.

For ease of use, the FXCM Trading Station ranked “Best Retail Forex Platform” in 2009 and 2010 by FX Week with 1 click trading, trading from charts, and easy to use charting. Some of our other benefits include mobile trading, DailyFX+ trading signals, dedicated education department, and much more.

For service, we provide true, 24 hour support by chat, phone and by e-mail. I know this is a lot of information but I hope this helps you with your decision!

 

[Nick Scheyltjens]

spread & slippige

Hi, it say on your website that your tipical spread, for example, on eurusd is 2.6 pips. But tipical spread = listed above were derived from the weighted average spread for the period of September 1, 2011 to September 30, 2011.

So how can i find out what the maximum spread, for example, on eurusd is?
Because it seems in forums that these can be rather large.
Same for the slippige.

+ is scalping allowed on all your accounts without restrictions?

friendly regards

 

[Jason Rogers]

CFD Trading Hours & Forex Rollover for Easter 2012

Please take note of changes to the following CFD trading hours for Good Friday and Easter. There is no change to forex trading hours, but forex trades will be affected by holiday rollover this week.

For example, on Wednesday, April 4th there will be up to 5 days worth of rollover interest that you could earn or pay on some currency pairs. For details look at the rollover calendar.

 

[Jason Rogers]

FXCM App Store

Hi everyone,

This week we launched the FXCM App Store, starting out with around 40 apps for MT4 including scripts, Expert Advisors, and stand-alone apps. This is just the beginning, and we plan to release more apps in the coming months for MT4, Trading Station, and possibly other platforms.

Below are 3 apps you can test for free, and there are more on the website. If you have suggestions for additional apps, please do let me know, and I will ask the programming services team if they can be added to the website.


DailyFX PLUS Trading Signals—Breakout2 (Expert Advisor)

Those of you that use DailyFX PLUS will likely have heard of Breakout2. You can now automate the strategy to run on MT4 rather than having to visit the website to check for updates and then manually place trades on your platform.

Breakout 2 is one of the six strategies in the “classic” DailyFX signals. It’s designed to perform best in market conditions where price is likely to move through an identified support or resistance level. When this happens, trading volume and price volatility often increase. Breakout2 attempts to capitalize on these increases by recommending to buy or sell in the direction of the breakout. We will likely release more of the DailyFX PLUS strategies for MT4 automation, so stay tuned.

Click here to download Breakout 2 for the FXCM MetaTrader 4 platform
​

Trend Identifier (Indicator)

This indicator is pretty self-explanatory, and it incorporates the Aroon indicator for trend identification. The indicator displays two lines: “Aroon up,” which measures the strength of the uptrend, and “Aroon down,” which measures the strength of the downtrend. Both lines fluctuate between values of zero and 100, with values near zero representing a weak trend and values near 100 representing a strong trend.

Click here to download Trend Identifier for FXCM MT4
​

Quick Buy (Script)

This app lets you open trades on MT4 in one click similar to how one-click trading works on the Trading Station desktop platform. You can even pre-set your stop-loss and take-profit levels.

Click here to download Quick Buy for FXCM MT4
​

All of these apps can be used on FXCM’s MetaTrader 4 platform, so if you’re using our MT4, enjoy! If not, you can register for an FXCM MT4 demo. And again, let me know, if you have suggestions for new Expert Advisors, scripts, etc. Stay tuned for an app that will let you automatically share your trades with your friends on facebook and twitter.


Jason

 

[Jason Rogers]

Attention MT4 demo users

Hi everyone,

Those of you who have an MT4 demo with FXCM will be getting an email about this, but I wanted to give everyone on the forum a heads up.

Due to a server upgrade this weekend, all current MT4 demos on the FXCM MT4 platform will expire this coming Sunday, April 15th. Past trading history of those demos will not be saved. Please take appropriate measures to save any necessary data. You can create a new demo after April 15th.

Why is this necessary? FXCM recently rebuilt the backend of our MT4 platform from the ground up. Now our No Dealing Desk forex execution is seamlessly integrated and auto syncs have been eliminated. We have also integrated functionality for MT4 accounts to work with the MT4 mobile and Trading Station mobile platforms. In order or put through the ability for demos to login to Trading Station and the mobile apps, the old demos have to go unfortunately.

I know that this is an inconvenience for everyone using a current MT4 demo with us, but I hope you will like all the new changes that will come with the new demos.

Jason

 

[Jason Rogers]

CFD Trading Hours for May 1st Holiday

Just a heads up for everyone.

The following indices will be closed for trading on May 1st due to the holiday in Europe: GER30, FRA40, ITA40, SWE30 and SUI30.

Normal trading hours will resume on May 2nd.

 

[Jason Rogers]

Holiday Rollover

Hi Everyone,

Due to the Golden Week holidays in Japan, all Yen crosses will have 5 days’ worth of rollover interest today except for GBP/JPY which will have 6 days’ worth.

For example, that means if you buy 10k of GBP/JPY and keep the trade open through 5pm New York time today, you will earn $0.66 or 66 cents. On the flip side, if you sell 10k of GBP/JPY and hold that trade open through 5pm, you will pay $1.56. You can always check what amount of rollover you can earn or pay for holding a particular currency pair through 5pm by looking at the RollS and RollB on the Trading Station.

And to keep track of when holidays will affect the number of days of rollover, you can look at the Rollover Calendar at DailyFX.com

Jason

 

[Jason Rogers]

Trade with Friends

Hi Everyone,

We've had a lot of traders ask for a way to easily share trades on Twitter and Facebook. FXCM's Programming Services team has created a free app now available in the app store called Trade with Friends. The app will give you the option to automatically share your trades on Facebook and Twitter to discuss with friends or other traders. Below is a screenshot of what the post will look like on Facebook and Twitter:

Here's a quick guide on how to setup the app to share your trades.


Step 1. Installation and Login

a. Click here to install Trade with Friends from FXCMapps.com. When you land on the page, click the Purchase button at the top right. The app is free, but you still need to click on "purchase" to go through the quick app store process to access the download file. The installation works like other programs you have probably installed on your computer where you double click on the .exe file and go through the installation window that appears.

b. After completing the installation, double-click on the Trade with Friends icon on your desktop and enter your account login details. You will need an FXCM account login. If you don't have one yet, you can click here to register a free practice account. If you look in the screenshot below, you will see what the Trade With Friends icon looks like on the left, and the actual program on the right once it has opened.​

Step 2. Connecting to Facebook and Twitter

At the top left of the Trade with Friends app, click on “Login” and select Twitter. After selecting Twitter, an authorization box will appear for you to login to twitter. FXCM is not able to see your twitter password when you give authorization. The below screenshot shows buttons to click on and what will appear.

The same steps are used to authorize Facebook, but you would click on Login > Facebook instead.​

Please note: While FXCM keeps all of your trading information private, FXCMs privacy policy may not fully apply to clients exposing their own information publicly. Trade With Friends app allows you to broadcast your trading details. Users of this app make their own judgment about how much information and to whom they wish to share it with. Lack of proper privacy controls can share information to unwanted individuals and/or parties.

Please feel free to reply with any questions about setting up the app, and I would appreciate any feedback you have about the app.

Jason