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Fxcm.com

Discussion in 'Forex Brokers' started by Administrator, Dec 20, 2007.

  1. ernest8fingers

    ernest8fingers Master Sergeant

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    i am still their customer

    I use TS2 ($500 Micro account) and yes its free. FXCM did have a crazy glitch on their price feed a couple days ago(didnt effect me as I didnt have any open trades). It was a "big" one too. So far, I have not heard ONE customer comment that they got "hosed" and FXCM is making adjustments to accounts. In fact, on another forum,you will find clients praising FXCMs quick action to restore accounts and open trades. I used to trade with a well known American Broker in Utah and when their price feed threw a "mystery" spike-you were out your money unless you called to complain. FXCM is making adjustments company wide independent of clients complaints. I still dont have anything to piss and moan about-AND I WOULD IF I FELT I WERE WRONGED! And RahmanSL-how long are you going to miss out on the Forex fun? Demoing has its virtues but will never make you money. I think by now you have a handle on what Brokers to avoid at all costs-take the plunge! Start small-MBT has its MT4 and I think their min deposit is still $400? I use their navigator platform and have no complaints. FXCMs TS2 for their Micro is still my platform of choice for low balance accounts(min $25 ?) and their problems are quickly solved. I am still firmly WITH them as a client(as insignificant as my account is) and plan on staying. BTW- I would take a one-post member with a grain of salt anyday over a more seasoned vet?:)
     
  2. RahmanSL

    RahmanSL Major

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    Hey Ernie…it’s not really about the money. I just easily get bored scalping for profits.

    I am trying out a new (well, at least to me) trading system. I look for a currencies pair and only go it when I think it’s at its height based on 1 hour chart.
    Example: Today EUR/GBP reached 0.8968. I managed to bought in “Sell” at 0.8967 for 8.00 lot. I have set the SL at 0.9072 and TP at 0.8920
    If I get my TP level, I would make a healthy profit; right? Just one trade and that’s it for me. But I can of course closed the profit at anytime, like right now when the EUR/GBP is at 0.8961 leaving me with a few hundred dollars profit.

    See Ernie, I think I will go in with USD5k and just carry out 1 single trade when I see from the chart that a currencies pair is at the high side. Maybe it might work out, and maybe it might not.
     
  3. ernest8fingers

    ernest8fingers Master Sergeant

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    RahmanSl thats as good a strategy as any other. Once you conquer the fear(of losing-by losing a trade or two) just makes profits all the more sweeter. FXCM is a better company than 3 years past-perfect? No-for sure. Thieves?-I am convinced thats a no as well. The Eur/Usd is up significantly as I write this post-That means i will be shorting the Sh_t out of this pair soon and then out totally before market close today-Good luck to all.:)
     
  4. RahmanSL

    RahmanSL Major

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    Yes indeed, the EUR/USD makes good trading and I am doing quite well on that pair.

    MBT Demo account keep repeating “Off Quotes” on ALL my trade resulting in totally NO trade at all on my Demo account. Strange! I have no such “Off Quotes” on both Tadawul & FXopen…I think I will open up a Demo with FXCM to see how their Demo works.

    Good luck with your EUR/USD pair Ernie!
     
  5. ernest8fingers

    ernest8fingers Master Sergeant

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    Thanks Bro- shorted the Eur/Usd at 1.3676 and locked in profit with an OCO. I just turn off computer now and go back to my HogansHeros marathon.:)
     
  6. promualdo

    promualdo Recruit

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    Execution time

    I use FXDD, FXCM and Alpari UK and of these three FXCM shows slowest and most surprising execution time. Recently I really started to wonder if they really operate ECN way, look at this:

    2010.03.01 14:12:12 '100xxxx': modification of order #3154984 buy 0.25 EURCHF at 1.46362 sl: 0.00000 tp: 1.46720 -> sl: 0.00000 tp: 1.46431 failed [Off quotes]
    2010.03.01 14:08:28 '100xxxx': order #3154984 buy 0.25 EURCHF closing at 0.00000 failed [Request canceled by client]

    I got "off quotes" response over 3 minutes after inital order. I am trying to close a small position (0.25 lot of EURCHF) and I am getting repeatedly off quote response...
     
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  7. ernest8fingers

    ernest8fingers Master Sergeant

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    I dont have your execution problems - are you trading their Micro account?
     
  8. promualdo

    promualdo Recruit

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    It's standard account with MT4 and BT...
     
  9. ernest8fingers

    ernest8fingers Master Sergeant

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    All my recent posts ( in the last 3 months) speak only of their Micro account environment. I dont have any recent experience with any other type account. I previously had a Mini account (using the TradeStation2 platform - 2005/2008). I do have their MT4 demo account but have not paid attention to its performance. Usually demo is not an exact copy of Live performance anyway. I still like the Micro served up on their TS2 . No complaints for me - have you tried contacting their Support ? I dont know if this would help much either- They do have alternate platforms like the TS2 and a pure java web based platform too. Typically people choose the Mt4 because they run an EA. Good luck and hope they resolve your issues. Platform performance is a very close 2nd to withdrawals. :)
     
  10. promualdo

    promualdo Recruit

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    I guess if I traded manually Trading Station would be the solution. However, I use EAs extensively (besides occasional manual trades) so I need MT4. But it seems that the Boston Technology bridge solution makes the system hardly acceptable for scalping and sometimes gives problems even with position trading. As you saw the system has problems with executing relatively small trades at a real lull time.

    FXCM sucked in a lot of traders when the NFA new rules were implemented and the magnet was MT4 trading + no FIFO + hedging. But I think they were not really technologically prepared for handling high traffic. For some reason, they have to use BT to interface between their backoffice system and MT4 and this seems to work so-so. As you do not have problems with TSII, my assumption is that problems maybe related to MT4 + BT bridge.
     
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