FXCM - not saying it's a scam, but submitted an audit report. **** happens.

Sure... I understand greece elections, eu summit and maybe GDP announcement might be great events to be one sided. But CAD retail sales? Alright I guess every event... Calculate a spread of 50 above before acting.

You can explain the "price that didn't exist in another way." for one if I didn't audit... I wouldn't even know of this problem. And I definitely wouldn't getting anything back right? How would I know when fxcm would have on of those... Maybe they read the spread bid and ask price wrong on the CAD when everything was liquidated. I didn't receive the tick chart for CAD during that time which I requested. I Can't really go back to it... Now that it's about two weeks now. I'm living in China right now so fxcm just expect me to know how to read Chinese. Its was fortunate i was able to speak Cantonese when they gave me a rep speaking n cantonese. but they just sent me a whole bunch of Chinese with a few numbers at me in an email expecting me to know how to read it. No tick chart showing the 12 spread anyways

Sure you can discuss the "price that didn't exist to me." I don't know what else to call it. Ah what about "misread price but liquidate at that price and only when audited a refund then would be given." 60 dollar out of the 4,600 is like nothing. It's like giving me an unknown event of the spread I can't keep track of after two weeks And giving me another unknown event that suppose to justify my loss altogether. Maybe fxcm should list... Fxcm gives the best competitive spreads but reminder risk: spread has no limits and might not be best competitive price compared to other companies.
 
Just looked at how you were leveraging yourself here .
Am I right in thinking you were trading standard lots using an 8k account ? IE pip cost $10 per pip ?
If I am right , you should only really be trading $10 a pip on an account > $100,000
An 8k account is nothing when trading using standard lots , you should have been using multiples on a micro account at 10 cents per pip and adjusted your risk from there.

I know this doesnt help you now but for the future it might.
 
Why is it when I get a trade right... something happens? bad luck? I didn't even report the spikes that occurred in the past before reversing into a profit. I thought it's just my bad luck but now this? found two divergences at the 1h,4h chart not shown here that it was going to fall... overbought levels all crossed over and waited for MACD to cross over. got it exactly at the right time. Then this happens!!! why?

Also . Yes there may have been technical reasons to enter a trade but just because there is divergence and MACD cross does not mean that the prices are going to do what you think. In fact all indicators lag and only tell you what has happened and not what will happen with 100% certainty , they only give you a probability,
 
Yea I know I have been risky on my trading. Are you saying It was just that I was liquidated because of my management of risk and none on fxcm's part? Well it was going that direction. Im not saying divergence give you a 100% certainity. Neither does any of the other indications. That's not what I'm trying to argue. Just that the reason for my liquation was due to an big spread increase. If I lose the position because of a spike or actual prices, this is something we can see or check with other charts. if it is due to spread... I cant check whether or not that was valid or not. Shouldn't I get a tick chart of some sort showing the spread at that time. I can't just take their word for my loss right? I just want to know... If that spread increase was the same throughout some of the other banks. Even if it's just for fxcm. I would at least want a tick chart at that time showing a 12 spread different between best bid and ask price.


If I had a 100,000 account and it liquidated... It doesn't make the situation any different. I had bad risk management. But I'm trying to find out is why it liquidated and I want evidence to show it. Not the company to just simply say sure. It liquidated because of a spread increase of 50. Well show me something that says that. I would prefer in English... Because I can't read other languages. That's all. RP1 please comment that gives me some insight to the missing pieces and not the pieces that already there.
 
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It would be nice if the broker could provide a tick chart in situations like this.
 
It would be nice if the broker could provide a tick chart in situations like this.

Agreed. As least it might gives more support that the spread wasn't widened just to liquidate my positions. Or else... Brokers could just Widen a lot of spreads to liquidate those who can receive possible margin calls. No dealing desk... I asked for one... It wasn't given. I received a Chinese e-mail with a number of 11.8 as the spread. I can't read Chinese....yet...
 
Agreed. As least it might gives more support that the spread wasn't widened just to liquidate my positions. Or else... Brokers could just Widen a lot of spreads to liquidate those who can receive possible margin calls. No dealing desk... I asked for one... It wasn't given. I received a Chinese e-mail with a number of 11.8 as the spread. I can't read Chinese....yet...

It would be nice if the broker could provide a tick chart in situations like this.

Hi Pharaoh and arcticpolar,

As mentioned before, I really am happy to help if you have questions.

FXCM has tick charts available in the Trading Station platform. When you go to "Create Marketshot" to create the chart, choose T in the period menu. T stands for ticks. Then in the Show Data Range menu, choose Other and the Date From and Date To section of the window will become available allow you to select the time period you want to view. I would recommend limiting the time period to 10 minutes at a time to narrow down the timeframe you want to view since there's a limit to the amount of data you can access at once. Here's a screenshot of what the Create Marketshot window looks like:

tickcharts73201224831pm.png


-Jason
 
Hi Pharaoh and arcticpolar,

As mentioned before, I really am happy to help if you have questions.

FXCM has tick charts available in the Trading Station platform. When you go to "Create Marketshot" to create the chart, choose T in the period menu. T stands for ticks. Then in the Show Data Range menu, choose Other and the Date From and Date To section of the window will become available allow you to select the time period you want to view. I would recommend limiting the time period to 10 minutes at a time to narrow down the timeframe you want to view since there's a limit to the amount of data you can access at once. Here's a screenshot of what the Create Marketshot window looks like:

tickcharts73201224831pm.png


-Jason


here is the tick chart... I can't even fit it in one screen. so if this spread is 11.8... If I had 50k buying USD. It still shouldn't have liquidated my positions.
 

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here is the tick chart... I can't even fit it in one screen. so if this spread is 11.8... If I had 50k buying USD. It still shouldn't have liquidated my positions.

At the top of the chart there's a button with a green up and down arrow. That will let you auto-scale the chart vertically for you to view.

It is important to keep in mind that your usable margin can still fluctuate even if positions are hedged. You may be hedged the same amount long and short for the positions; however, other events such as rollover, pip value changes, and spread changes can impact usable margin resulting in a margin call.

At face value, you may think that spread changes won't have much of an impact since your positions are hedged, but it can, especially if you are trading a large leveraged position. I will go over an example to see just how much it will impact you.

Starting out, let's assume that you are long and short 100k of AUD/USD which would mean your position is hedged. If the spread widens by 2 pips (one pip on the bid and one pip on the ask) your loss has increased on both your long and short positions by 1 pip. Each pip is worth $10, so your usable margin dropped by $20 total. What happens if you increase the position size to 1,000k long and short AUD/USD? Your pip value is now worth $100 so a 2 pip increase in the spread would reduce your usable margin by $200. If the spread increases by 10 pips, your floating loss on the "hedged" position has increased by $1000. We're now talking about pretty big changes if you're used a lot of leverage.

So while it may not seem like a big deal at first glance, the size of your position along with any increase in spread can put you in a precarious position even if you are hedged on the positions.

Lastly, the used margin amount is not necessarily what you will end up with in your balance after the positions have closed. The margin call gets triggered when your account equity drops to your Used Margin amount. At that point a margin call is triggered and the trades are closed at the best available price dependent on liquidity. It's possible that the price at which the trades need to be closed at in order for your new balance to exactly equal your used margin was not available. In this case your ending balance would be less than the used margin requirement. In extreme scenarios where the market is very volatile, it is possible your Used Margin could be wiped out completely, but FXCM traders have the peace of mind that they cannot lose more than they deposit into their account. Our policy is to credit the account back to a zero balance if the debit balance occurs as a result of trading.

-Jason
 
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