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Dear All,

Any free mechanical trading platform to use with FXCM? prefer using java or c#.

Iam a FXCM client. I have heard that their Strategy Trader ( mechanical trading platform supporting C#) is going to phase out.
Is this because FXCM have partnered with NinjaTrader? and NinjaTrader see StrategyTrader as competition?
Ninja Trader is not a free product, and I am a newbie starting out, want to try the free alternatives first before moving on to the more professional solution.

Hi Uncle_mk2,

To answer your question about Strategy Trader, the decision to stop supporting did not have to do with NinjaTrader. It was just that not many people were using the Strategy Trader platform.

Unfortunately, I'm not familiar with other free automated platforms that use C# or Java. NinjaTrader is free for demo accounts, but they charge for use on live accounts. MT4 is free, but it uses MQL as the programming language.

Jason
 
Is Ninja platform available only for US clients?

Hi Tim,

The NinjaTrader platform is available FXCM clients worldwide. I notice from your forum profile that you are in the UK. Here is the correct link for you: Automated Trading | FXCM

Our site still says Ninja is in beta, but that webpage is in the process of being updated. NinjaTrader is no longer in beta and is available for live trading.

Jason
 
Jason,

could you please post detailes on these fees. Are those one time fees? you charge $50 once a year regardless account size?
And also why and when you have changed the size of the fee? it was less than $50 a year ago.

Hi Finpul13,

The dormancy fee amount is the same as last year. It's $50 or the entire balance if the account has less than $50 in it. The fee only applies to accounts that have been inactive for over a year, and it is charged only once per year.

Jason
 
Hi Finpul13,

The dormancy fee amount is the same as last year. It's $50 or the entire balance if the account has less than $50 in it. The fee only applies to accounts that have been inactive for over a year, and it is charged only once per year.

Jason

Seems like an excellent way of losing clients. A fee of £50 was mentioned earlier. Is 1.0000 FXCM's current GBP/USD rate?
 
Hi Uncle_mk2,

To answer your question about Strategy Trader, the decision to stop supporting did not have to do with NinjaTrader. It was just that not many people were using the Strategy Trader platform.

Unfortunately, I'm not familiar with other free automated platforms that use C# or Java. NinjaTrader is free for demo accounts, but they charge for use on live accounts. MT4 is free, but it uses MQL as the programming language.

Jason

There's also a free live version of Ninja available through some brokers.
 
Reply to Jason Rodgers - thank you for answers
Hi Phylo,
We offer two types of forex execution. No Dealing Desk (NDD) and Dealing Desk (DD).

In the interest of clarity my understanding is as follows

  1. NDD execution is applicable only to Forex.
  2. All CFD and Non-Forex Products - Stock Indices, Energy, Metals and Treasury - fall under DD execution only.
All CFD trades are on DD execution.
Here's a link with more info on our two execution types: FXCM
Regards information under the Dealing Desk Tab.

Trading Limitations

Operating a dealing desk can be riskier than providing NDD execution because we (the market maker) are on the other side of your trades. When you are long a currency pair, we are short. When you are short, we are long. Likewise, when you trade profitably, we may experience trading losses. Most dealing desks manage their trading losses by interfering with their client's trading such as re-quoting their orders, delaying their execution, skewing prices, or widening spreads. We do none of that at FXCM. If your trading style exposes us to more risk than we care to manage, we will simply change your execution type to NDD, where there are no restrictions on the trading style or strategy used. This is how FXCM can comfortably offer both options without having to resort to the "dealer intervention" that is common at many forex brokers.

  1. The above Trading Limitations refers and applies to Forex.
  2. If all CFD and SB Non-Forex Products fall under DD execution only, the logical assumption is they are subject to the same trading criteria and limitation as Forex DD execution.
  3. The FXCM UK Site appears not to address the above DD trading limitation issues regarding CFD and Non-Forex SB Products – Stock Indices, Energy, Metals and Treasury.
  4. In the case of CFD and Non-Forex Products FXCM does not offer a NDD option which logically brings into question the last sentence of the above Trading Limitations paragraph – “This is how FXCM can comfortably offer both options without having to resort to the "dealer intervention" that is common at many forex brokers.”
If all CFDs fall under Dealing Desk execution only, then the following logical questions arise against apparent inconsistencies.

  1. How does FXCM compensate the absent of a NDD option in the case of CFD DD Products ?
  2. How does FXCM compensate against loses arising from profitable CFD DD trades ?
  3. What trading limitation action does FXCM implement in the case of profitable CFD DD trades ?

I thank you in advance for reply and and any corrections.

This post is impersonal-impartial-nonpartisan.
 
Last edited:
US Stock Index CFDs closed due to Hurricane Sandy

Due to Hurricane Sandy, US equity and futures markets have been closed or subject to reduced hours. As a result, trading on the following CFD products was closed at 9:15am EDT: US30, SPX500, NAS100 and JPN225.

These products will remain closed until the CME exchange provides additional details on reopening: Futures & Options Trading for Risk Management - CME Group
 
Re: US Stock Index CFDs closed due to Hurricane Sandy

Due to Hurricane Sandy, US equity and futures markets have been closed or subject to reduced hours. As a result, trading on the following CFD products was closed at 9:15am EDT: US30, SPX500, NAS100 and JPN225.

These products will remain closed until the CME exchange provides additional details on reopening: Futures & Options Trading for Risk Management - CME Group

Just an update: trading on JPN225 has re-opened.
 
As a trader are there a couple of strong options anyone could recommend? I am a newbie, trying to get my feet wet and start out strong. Is there any one mistake anyone is willing to share as to giving a heads up on what not to do as a newbie?
 
As a trader are there a couple of strong options anyone could recommend? I am a newbie, trying to get my feet wet and start out strong. Is there any one mistake anyone is willing to share as to giving a heads up on what not to do as a newbie?

Check whether you're posting in the right thread, maybe?:)
 
Re: US Stock Index CFDs closed due to Hurricane Sandy

Due to Hurricane Sandy, US equity and futures markets have been closed or subject to reduced hours. As a result, trading on the following CFD products was closed at 9:15am EDT: US30, SPX500, NAS100 and JPN225.

These products will remain closed until the CME exchange provides additional details on reopening: Futures & Options Trading for Risk Management - CME Group

Latest update: US30, SPX500, NAS100 and JPN225 will be closed again today.

Click here for more info on market closures from the CME: Hurricane Sandy Update
 
Re: US Stock Index CFDs closed due to Hurricane Sandy

Due to Hurricane Sandy, US equity and futures markets have been closed or subject to reduced hours. As a result, trading on the following CFD products was closed at 9:15am EDT: US30, SPX500, NAS100 and JPN225.

These products will remain closed until the CME exchange provides additional details on reopening: Futures & Options Trading for Risk Management - CME Group

Update: All CFD products have resumed normal trading hours - http://docs.fxcorporate.com/user-guide/ug-cfd-product-guide-ltd-en.pdf
 
As a trader are there a couple of strong options anyone could recommend? I am a newbie, trying to get my feet wet and start out strong. Is there any one mistake anyone is willing to share as to giving a heads up on what not to do as a newbie?

Hi T_rader6,

Welcome to the forum :)

Since you're new, start out with a free demo account. You'll be able to follow the price action on the charts and practice placing orders.

Do you play poker? I host a weekly game at my place, and I feel that mentally, it's helped me accept that bad beats are just part of the game. I can analyze the economic data and the charts all I want, but the market always has the ability to serve up a surprise that can throw your plans for a trade out the window.

I cannot overemphasize this because I see some people continue to struggle without progress because they never accept this fact: good trading is about probabilities, not certainties. No one knows for certain what will happen to market prices in the future. We can only make our best guess based on analyzing economic data and chart patterns. Some people are better at analyzing economic data and chart patterns than others, but even the best traders will have losing trades.

I've lost count of how many people I've met, some of them very clever mind you, who've ruined their chances of lasting success as traders by risking too much money on a single position. They do this either by using too much leverage because they can't imagine a situation where their trade could lose money, or they can't bring themselves to close a losing trade so they let a small loss grow into a huge loss.

The key is to accept that your analysis will be proven wrong by the market from time to time, and rather than trying to avoid that eventuality, instead focus on how you can minimize the damage on your losing trades. That means knowing how much money you're willing to risk on a trade BEFORE you open it. I keep my losses small by setting stops and STICKING TO THEM and by limiting my leverage to 10:1 even though as a US resident I can use up to 50:1 leverage.

There are many things you will learn trading which is one of the reasons it's such a rewarding experience, but I think if you can start by accepting that you will have losing trades, you will be off to a good start. Then after that you look to build your trading skills by learning techniques to analyze economic data and chart patterns to identify higher probability trading opportunities.

Good trading!

Jason
 
FASTMATCH

On June 20th, 2012, posted in: News by fastmatchadmin

FXCM Inc. and Credit Suisse Group AG announced today the upcoming launch of FastMatch. FastMatch is a new Electronic Communication Network (ECN) for foreign exchange trading. FastMatch strives to offer its customers access to large pools of diversified liquidity at unparalleled speed with complete transparency in the optimal location.

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comment phylo: all posts impersonal - impartial - nonpartisan

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