Save the Date: Forex Trading Expo in Las Vegas, Hosted by FXCM

Join FXCM at the Rio in Las Vegas, May 3–4, 2010, for a two-day Forex Trading Extravaganza

FXCM (www.fxcm.com) is hosting a forex trading expo in Las Vegas on May 3–4, 2010. This two-day conference includes dozens of educational courses for all levels of trader experience. Central to the expo experience is a course track designed specifically for MT4* traders, covering a variety of specialty topics. FXCM plans to accommodate several thousand traders coming together to learn, hone their skills, and share their experiences. Register now and view the complete workshop schedule.

Sneak Peak at Some FREE Workshops:
- No Dealing Desk vs. Dealing Desk Q&A with FXCM’s CEO, Drew Niv
- Trading Opportunities and Forecast for 2010
- Learn How to Develop a Trading Plan
- How to Trade Like a Hedge Fund Manager
- DailyFX Tips and Trading Strategies.
- Dozens of MetaTrader 4 Workshops

Register Now!

About FXCM Holdings LLC:
Forex Capital Markets (FXCM) is a leading global forex broker that caters to both retail and institutional markets. Founded in 1999, FXCM is one of the largest brokers, regulated by several of the world’s most respected financial authorities.
At the heart of FXCM’s client offering is No Dealing Desk† forex trading, FXCM offers 24-hour online forex and CFD trading with no re-quotes. Clients have Direct Market Access to some of the world's largest forex liquidity providers, enabling FXCM to offer clients spread as low as 1 pip on major crosses. Clients also have the benefits of mobile trading, one-click order execution and trading from real-time charts. FXCM’s CFD product* allows traders to trade oil, gold, silver and stock indices, along with forex on one platform. In addition to currency and CFD trading, FXCM offers educational courses on forex trading, and provides free news and research through DailyFX.com.
*MetaTrader 4 and CFD accounts are available through Forex Capital Markets Ltd. (FXCM UK).
†Please note that FXCM Micro, in its discretion, may or may not offset individual transactions unlike transactions in most FXCM Standard accounts.

Risk Disclaimer: Trading FX, CFDs and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors read full disclosure.



Media Contact:
Jaclyn Sales [email protected] 646-432-2463

Las Vegas?

Did I miss something? Or, is that the perfect Analog for what you do when you trade with FXCM - Gambling?

Analog to Digital Transformation = Don't Go!

How about holding a "Trading Expo" in a place that presents a more analog friendly environment, like The Broadmoor Hotel, Colorado Springs. Or, The Biltmore Hotel, Coral Gables Miami. Classy environments conducive to serious minded business.

The only time I go to Vegas, is when my Wife wants to see Cirque du Soleil, Blue Man Group, Lance, David or Criss. I don't go to Vegas with "trading" on my mind. The Analog fails me.

Or, maybe the Analog is correct! Maybe Vegas is the proper venue for an FXCM event. Sort of, care free money. Like, awe, what the heck, let's make a trade - we're in Vegas anyway! Let or roll! Nothing like mixing a little Russian Roulette with a Currency Swap Seminar! Yeah! Whoa!

Come on Deuce! Buy Daddy a new Gold Chain, Mommy a New Bra Baby a new pair of Shoes!

Yeah........... a perfect venue for the "Trading" Analog.

Yep.

TraderNumber7 said:

Las Vegas?

Did I miss something? Or, is that the perfect Analog for what you do when you trade with FXCM - Gambling?

Analog to Digital Transformation = Don't Go!

How about holding a "Trading Expo" in a place that presents a more analog friendly environment, like The Broadmoor Hotel, Colorado Springs. Or, The Biltmore Hotel, Coral Gables Miami. Classy environments conducive to serious minded business.

The only time I go to Vegas, is when my Wife wants to see Cirque du Soleil, Blue Man Group, Lance, David or Criss. I don't go to Vegas with "trading" on my mind. The Analog fails me.

Or, maybe the Analog is correct! Maybe Vegas is the proper venue for an FXCM event. Sort of, care free money. Like, awe, what the heck, let's make a trade - we're in Vegas anyway! Let or roll! Nothing like mixing a little Russian Roulette with a Currency Swap Seminar! Yeah! Whoa!

Come on Deuce! Buy Daddy a new Gold Chain, Mommy a New Bra Baby a new pair of Shoes!

Yeah........... a perfect venue for the "Trading" Analog.

Yep.

Click to expand...

Hi TN7,

There's a reason why Las Vegas is one of the top sites for conventions for any industry, it's affordable for people to attend and conveniently located for a large segement of the population.

But on to serious topics...

We're happy to be hosting a free trading expo for all traders to attend and there are over 60 scheduled workshops and seminars for beginners, advanced traders, and MT4 users. Here's a brief overview of some of the types of workshops being held:


A complete listing of workshops, along with registration information, can be found on the main site www.fxcmexpo.com

Feel free to let me know if you have any questions.

-Jason
FXCM

Jason Rogers said:

Hi TN7,

There's a reason why Las Vegas is one of the top sites for conventions for any industry, it's affordable for people to attend and conveniently located for a large segement of the population.

But on to serious topics...

We're happy to be hosting a free trading expo for all traders to attend and there are over 60 scheduled workshops and seminars for beginners, advanced traders, and MT4 users. Here's a brief overview of some of the types of workshops being held:

A complete listing of workshops, along with registration information, can be found on the main site www.fxcmexpo.com

Feel free to let me know if you have any questions.

-Jason
FXCM

Click to expand...

Hey Jason,

Beginner: Chart Reading 101

Shouldn't this be a psychological work-up session? Too many people get involved in this business with a psychological make-up that virtually guarantees failure. So, in the effort to demonstrate true concern for the customer's best interest, would it not be more beneficial to the customer to at least gain some insight into whether or not they already have the psychological bull-work or framework, or at least the potential for developing such a personality transformation that would enable the possibility of achieving trading success?

90% to 95% (or more) of the newbies that get into this business fail. Yet, 90% to 95% (or more) of this business is between the ears. Thus, the most logical place to start a "Beginner" would seem to be inside that place which exists between their two earlobes. The Psychology of Trading, is highly under-valued and severely under-appreciated.

The Human Psyche needs to be prepared for this business, so the Conscious Mind has at least a fighting chance to stay alive. This is Warfare, Jason. Any attitude brought into this business outside of that known reality only hurts (not helps) the Newbie. Over the years, I've walked past the dead carcasses of too many Newbie dreams, laid waste on the battlefield of the market. Many of those whose dreams have been laid waste, should have never been here - this was never their War to win. Somebody, could have done them a favor by simply helping them understand that from the start.

How about some Psychological prep work before we go jaunting off into the world of make believe as we learn how to "read charts" for the first time, without having a solitary clue about WHY we are reading charts in the first place.

I could write an entire book on this subject alone, Jason - but I will refrain.


Advanced: How To Trade Like A Hedge Fund Manager

Ok, that got my attention, but which Hedge Fund Manager? The one who could care less, as long as the "Firm" collects the Management "Fee?" Or, the one who actually uses a Multi-Pair Strategy to mitigate risk and by doing so, systematically increases overall profitability and capital growth efficiency? Which Hedge Fund Manager are we talking about here? There are only two types (really, when the rubber meets the road) in the entire world.

I like this concept, but in Vegas? I don't care how "cheap" the hotel rooms are in Vegas, it does not engender the right mental attitude in Newbies! This should not be The Newbie Trading Mecca of the world. It is the absolute wrong venue. This takes the Psychology of Trading and turns it on its earlobe - as opposed to first understanding what resides between the earlobes.

Still, 'Trade Like a Hedge Fund Manager' - that's catchy - I mean, really, that is truly catchy. If all Newbies could learn to 'trade like hedge fund managers' then the 90% to 95% failure rate would be wiped out overnight. It would be tantamount to removing ALL Felony Criminal Acts from the entire world, by noon tomorrow. An Epic Event, no doubt.

Advanced: No Dealing Desk -vs- Dealing Desk with Niv

Oh, my! Maybe I should buy a ticket and be one of those who stands up and asks Niv in-person whether or not FXCM actually provided an NDD trade execution and off-setting function for its customers through the FXCM Trading Platform. I've had phone conversations with Niv, many, many years ago and this never came up. Do you want to know why, Jason? I'm glad you asked. Because I was a clueless Newbie who did not know the difference and/or why it was important to ask - that's why.

So, will Niv actually stand up in Vegas (of all places on earth) and shoot down the "myth" that FXCM has been telling people for eons that it does not manipulate the data feed carrying pricing into the FXCM Trading Platform - and what's more - that is NEVER has? If Niv is going to stand-up and actually make that statement, then I will personally file an IFR flight plan, pre-flight my aircraft, fly into KLAS and drive a rental car over to the convention center to hear him make it myself.

Better yet, why not just have Niv stand-up and tell the Newbie Arrivals into McCarran International Airport, that the reason the FXCM Trading Platform has fixed spreads to begin with, is precisely because the data feed containing the deal-able prices, is being manipulated by FXCM and it not representative of actual (wholesale) Interbank dealing rates?

And, while my old buddy Drew is at it - why not ask him to tell the Newbie Crew precisely when he plans to deliver on his multi-year promise to me personally as well as to others (directly), to provide genuine STP - Straight Through Processing for Interbank off-setting AND to finally deliver on the promise to provide "at-a-glance" market depth, breadth and liquidity by source name and volume available?

Jason, I think I may have been around this gig just a little bit longer than you have and most probably knows Drew, just a little bit better than you do.
-----------------------

TraderNumber7 said:

Hey Jason,

Beginner: Chart Reading 101

Shouldn't this be a psychological work-up session? Too many people get involved in this business with a psychological make-up that virtually guarantees failure. So, in the effort to demonstrate true concern for the customer's best interest, would it not be more beneficial to the customer to at least gain some insight into whether or not they already have the psychological bull-work or framework, or at least the potential for developing such a personality transformation that would enable the possibility of achieving trading success?

90% to 95% (or more) of the newbies that get into this business fail. Yet, 90% to 95% (or more) of this business is between the ears. Thus, the most logical place to start a "Beginner" would seem to be inside that place which exists between their two earlobes. The Psychology of Trading, is highly under-valued and severely under-appreciated.

The Human Psyche needs to be prepared for this business, so the Conscious Mind has at least a fighting chance to stay alive. This is Warfare, Jason. Any attitude brought into this business outside of that known reality only hurts (not helps) the Newbie. Over the years, I've walked past the dead carcasses of too many Newbie dreams, laid waste on the battlefield of the market. Many of those whose dreams have been laid waste, should have never been here - this was never their War to win. Somebody, could have done them a favor by simply helping them understand that from the start.

How about some Psychological prep work before we go jaunting off into the world of make believe as we learn how to "read charts" for the first time, without having a solitary clue about WHY we are reading charts in the first place.

I could write an entire book on this subject alone, Jason - but I will refrain.


Advanced: How To Trade Like A Hedge Fund Manager

Ok, that got my attention, but which Hedge Fund Manager? The one who could care less, as long as the "Firm" collects the Management "Fee?" Or, the one who actually uses a Multi-Pair Strategy to mitigate risk and by doing so, systematically increases overall profitability and capital growth efficiency? Which Hedge Fund Manager are we talking about here? There are only two types (really, when the rubber meets the road) in the entire world.

I like this concept, but in Vegas? I don't care how "cheap" the hotel rooms are in Vegas, it does not engender the right mental attitude in Newbies! This should not be The Newbie Trading Mecca of the world. It is the absolute wrong venue. This takes the Psychology of Trading and turns it on its earlobe - as opposed to first understanding what resides between the earlobes.

Still, 'Trade Like a Hedge Fund Manager' - that's catchy - I mean, really, that is truly catchy. If all Newbies could learn to 'trade like hedge fund managers' then the 90% to 95% failure rate would be wiped out overnight. It would be tantamount to removing ALL Felony Criminal Acts from the entire world, by noon tomorrow. An Epic Event, no doubt.

Advanced: No Dealing Desk -vs- Dealing Desk with Niv

Oh, my! Maybe I should buy a ticket and be one of those who stands up and asks Niv in-person whether or not FXCM actually provided an NDD trade execution and off-setting function for its customers through the FXCM Trading Platform. I've had phone conversations with Niv, many, many years ago and this never came up. Do you want to know why, Jason? I'm glad you asked. Because I was a clueless Newbie who did not know the difference and/or why it was important to ask - that's why.

So, will Niv actually stand up in Vegas (of all places on earth) and shoot down the "myth" that FXCM has been telling people for eons that it does not manipulate the data feed carrying pricing into the FXCM Trading Platform - and what's more - that is NEVER has? If Niv is going to stand-up and actually make that statement, then I will personally file an IFR flight plan, pre-flight my aircraft, fly into KLAS and drive a rental car over to the convention center to hear him make it myself.

Better yet, why not just have Niv stand-up and tell the Newbie Arrivals into McCarran International Airport, that the reason the FXCM Trading Platform has fixed spreads to begin with, is precisely because the data feed containing the deal-able prices, is being manipulated by FXCM and it not representative of actual (wholesale) Interbank dealing rates?

And, while my old buddy Drew is at it - why not ask him to tell the Newbie Crew precisely when he plans to deliver on his multi-year promise to me personally as well as to others (directly), to provide genuine STP - Straight Through Processing for Interbank off-setting AND to finally deliver on the promise to provide "at-a-glance" market depth, breadth and liquidity by source name and volume available?

Jason, I think I may have been around this gig just a little bit longer than you have and most probably knows Drew, just a little bit better than you do.
-----------------------

Click to expand...

Hi TN7,

I question how familiar you are with FXCM since you stated "the FXCM Trading Platform has fixed spreads to begin with". FXCM uses No Dealing Desk execution for forex transactions on the standard 10k accounts and has done so since about Nov. 2006. Every trade is executed back to back through an affiliate with one of the world's premier banks or financial institutions, which compete to provide FXCM with bid and ask prices. The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip or less for major currency pairs. Before then we were a market maker; however, our execution model changed thereby eliminating the conflict of interest a market maker takes on. Granted, our micro the risk on micro accounts is managed by FXCM's dealing desk and this is fully disclosed. The reason for this is because up until recently, only 2 out of the 10 banks providing liquidity would take micro lots via No Dealing Desk execution. However, this will change in time as well to an NDD model. And even now, the spreads on the micro platform are variable since it tracks the NDD spread. We have a whole website devoted to explaining the difference between dealing desk vs. no dealing desk execution which you can read about here http://www.fxcm.com/fxcm-forex-execution.html . And "at-a-glance" liquidity is available through the Active Trader platform.

I'm not sure what particular axe you have to grind, but if had a bad experience at FXCM however many years ago, I truly am sorry for what that may be. If you would like to discuss matters of execution and the forex industry, I would be happy to setup an FXCM discussion thread where we can discuss at length.

On to discussing the FXCM Expo coming up in Las Vegas...

There is no holy grail to trading, and our expo is no guaranteed path to success. Even teaching someone about the psychological aspects of trading does not guarantee success, but I would agree that it is an important aspect to learn.

Our aim to offer as much education as possible. That's why we are holding the expo in addition to every other educational tool we offer such as research and analysis through DailyFX.com, the FX Powercourse, daily webinars, demo accounts, a trading forum to discuss your trading with other traders, etc.

There are over 60 workshops available and if anything is missing, I'm almost positive I can point you to additional resources we have to help. If you're not a fan of Las Vegas, then maybe we'll have one eventually on the east coast in New York City for you to attend.

-Jason

No dealing desk on what FXCM calls its "Mini Account" since 2006, when FXCM has been in business - how long exactly? - is nothing to pound your chest about. At the same time, you never mentioned the so-called "Standard Account" or the 100K account. Is that No Dealing Desk execution, too - 100% of the time? Back-To-Back Off-Setting? Who are you kidding, here - me? You know perfectly well that if it were true STP then there are no such deals sub-lot deals, don't you. Interbank does not deal in partial lots, Jason. So, this brings us back full circle to the question of whether or not your firm "Intervenes" at the 100K (Standard Lot) level?

Why is FXCM still pushing this Straight Through Processing language, when it knows full well that the FXCM Trading Platform is nowhere near STP - that's not the FXCM business model and it never was, Jason. Your firm only began using that language when word got out that FXCM was a Spread Tweaking Bucket Shop. THEN, you started using the STP language in your marketing materials.

Liquidity Providers competing on the FXCM Trading Platform? That is absurdly laughable. Competing for what exactly, Jason? What kind of volume is FXCM "making" for this "pool" and who is this singular "affiliate" that FXCM relies upon for direct "Off-Setting?"

FXCM advertises "Persistent Tight Spreads." How can anyone do that, Jason and not be manipulating the feed from the Banks? Banks are not providing "persistent tight spreads" they could give a hooter about the Retail market. They are the market for goodness sakes! How can you guarantee Bid/Ask levels when neither is supposed to be controlled by FXCM?

Let me ask you this, Jason, since Drew is not here right now; is there an inbound Pricing Algorithm that drives any of the outbound Bid/Ask prices shown on the FXCM Trading Platform, that in anyway shape or form, alters Interbank Bid/Ask levels from Liquidity providers that make up the pool FXCM uses to satisfy order requests from its customers? Yes, or no.

Here is another question, Jason - if I were an FXCM customer having just placed an order with FXCM through the FXCM Trading Platform, does the platform send my order Straight Through to Interbank for direct counter-party off-setting, without my order being constrained, amalgamated and/or consolidated with ANY other FXCM order from ANY other FXCM customer and/or ANY other block of capital originating from within FXCM itself?

Here's another question for you, Jason - what are the names of ALL FXCM Liquidity providers that make up the pool of counter-party risk under the FXCM Trading Platform? Can you list the names of the Banks right here and now for all Newbies to see? Inquiring minds want to know?

And, here is the last and most telling question of all, Jason - does FXCM, under ANY of its current account set-ups, ever take the opposing side of ANY trade made by ANY of its Customers, regardless of notional size?

You say I don't know the FXCM Platform. You say FXCM offers a "No Dealing Desk Solution." Prove it. Vegas will still be rolling the dice long after you fail to prove any of this as being true. And, there is no "axe to grind" here - only the truth to be told given the history of FXCM in this business.

Here is a quote taken directly from your website:

"1. How does FXCM's No Dealing Desk (stp) service make money?

FXCM makes an identical amount of money in the form of pip markups (which are really commissions) regardless of whether the customer made or lost money on the account. FXCM receives prices from over a dozen of the world's largest banks and market makers in the foreign exchange markets. A best bid/offer engine sorts those prices and marks them up with our standard fixed markup on the majors. This markup acts as the commission on the trade."

[source www.fxcm.com]
------------

This comes directly AFTER the front page of your www.fxcm.com website, where your firm highlights as a bullet point: "No Dealing Desk Intervention."

Well, Jason - help my understand this mathematical proportionality:

No Dealing Desk Intervention + Best Bid Engine Marking Up Prices = Which Are Really Commissions

As far as I am concerned, this equation is what we math types call: Insoluble. Now, can you explain this?

When you are done with that, we can also talk about the other statement on the FXCM website called: "No Entry-Order Restrictions," where at the bottom of the same webpage in the finer print it gets revealed that: "FXCM Trading Station allows for order sizes up to $50 Million per trade" as the maximum Order Entry. Well excuse me! Precisely what does "No Entry-Order Restrictions" mean if I can't execute via single-click on a lousy $50MM notional trade? That is a rather small trade size for some of us, Jason.

If the "Best Bid Engine" is not manipulating the prices your customers see in their FXCM Trading Platform (the one I know nothing about) then what does the word "Manipulation" really mean, Jason?

Now, holding a Trading Conference in New York City, would even bring me out to the party, Jason. That is precisely the kind of environment where serious minded Traders go to hold such conventions. Certainly, not Vegas. This is a serious business to some of us. Many of us don't treat our Trading business as a gambling venture - though some do.

I still say that the Biltmore or the Broadmoor, would have been perfectly delightful venues. Once you've been to either place for such a venue, you won't want to go to many other places for such business meetings. But, of course, I can't imagine a bunch of Micro Accounts flying up to the Broadmoor either, Jason. Maybe that's why FXCM picked an Adult Amusement Park where things like inhibitions, better judgment and rational thinking would be failing or at least, faltering during the week.

Vegas. The Perfect Forex Newbie "kill zone" for Bucket Shops Knights in not so shinny armor . Am I right, or am I delusional? Because if I am delusional on this subject, Jason, please - just let me know. And, I'll be the one to go seek some professional help.

Hi TN7,

I have replied to your post here http://www.trade2win.com/boards/forex-brokers/88834-fxcm-discussion.html#post1070466 on the FXCM Discussion thread since it covers many aspects of FXCM in addition to the expo.

Cheers,

Jason

Here's a list of the beginner classes being taught at the expo. We should have a more detailed description of each workshop added to the webpage very soon:

General Trading
- Intro to FXCM and FX markets
- No Dealing Desk vs. Dealing Desk Q&A with CEO Drew Niv
- The Right Trading Platform For You
- DailyFX+ Trading Signals and the Technical Analyzer
- Speculative Sentiment Index
- Currency Overlay Strategies
- Developing a Trading Plan
- Trading Mistakes to Avoid
- Money Management: The Good, the Bad, and the Ugly
- DailyFX Tips and Trading Strategies

Technicals
- Chart Reading 101
- Beginner Fibonacci
- Top Ten Basic Technical Indicators
- Beginner Elliott Wave Analysis

Fundamentals
- Trading the Top Five Economic Indicators
- Carry Trade Survival Kit
- Trade the News
- Trading Opportunities and Forecasts 2010

MT4 and Automated Trading
- Forex System Selector and Auto Trading

A full schedule can be found on the FXCMExpo.com webpage.