FXCM -Fraudsters!!

[Master Yoda]

Hi Jason,

I don't think FXCM are Fraudsters. Over the years you guys are trying so hard ( transparency above all ) to give us good services. Despite all of this efforts FXCM failed to stay away from negative headlines. What I want to know is that why can't you guys get it wright. I am sure you must be fed up by now.

Couldn't agree more

 

[Jason Rogers]

Despite high volatile periods in Forex trading, I did believe that all brokers fill the "order" at the next closest possible tick (price), am I missing something

Good luck
Liz

Hi Liz,

I can't speak for other brokers, but with FXCM's No Dealing Desk forex execution the order would be filled at the next best available price if sufficient liquidity is not available at the order price. Orders are filled dependent of liquidity as originally mentioned in the discussion quoted from 3 months ago.

Jason

 

[Jason Rogers]

However, I have been extremely profitable trading quiet markets.

That's great to hear Robert. We have seen client profitability tends to increase due periods of low volatility, and the market volatility has dropped to near record lows this year.

 

[ilearn2t]

Hello Jason

Hi Liz,

I can't speak for other brokers, but with FXCM's No Dealing Desk forex execution the order would be filled at the next best available price if sufficient liquidity is not available at the order price. Orders are filled dependent of liquidity as originally mentioned in the discussion quoted from 3 months ago.

Jason

Thanks for the quick answer.

So going by your quote, Ranmal Goonetilleke "Buylimit" order would have been executed at some point, regardless of "price" unless other factors where put in place, would this be correct.

Trade Audit Committee seems to suggest the "Buylimit" order was never executed

Can you clear up the confusion surrounding this "order".

Good luck
Liz

 

[Jason Rogers]

Trade Audit Committee seems to suggest the "Buylimit" order was never executed

Can you clear up the confusion surrounding this "order".

Good luck
Liz

Hi Liz,

Our privacy policy and regulations don't allow me to discuss confidential client information such as specific order details, but my previous post explained why a limit order may not be filled.

Insufficient liquidity means there were not enough sellers in the market at 171.81 to fill your limit order to buy. Keep in mind that you were trading during NFP. During news events like this the price can jump around very quickly with little trading at any given price. If there were 8 million GBP/JPY in limit orders to buy at 171.81, but only 5 million GBP/JPY offered by sellers at that price, then the first 5 million worth of buy orders in the queue would get filled while the last 2 million would remain unfilled due to insufficient liquidity.

It's important to understand at the basic level how stop loss orders and limit orders work. Stop loss orders guarantee execution. They will always be filled, but they may not be filled at the price requested if liquidity is not available at the requested price. Limit orders will only be filled at your price or better, but there is no guarantee of execution. If the price spikes below your limit buy order price, as mentioned in the post from April, but liquidity is not available and the market quickly retraces, it is possible the order will not fill. The limit would remain pending until the price drops to the limit buy price again.

If you would like to discuss how orders execute or other topics, please feel free to drop any questions in our FXCM discussion thread and I would be happy to help.

Jason