Best Thread FXCM Discussion

[Jason Rogers]

Insufficient Permission to Uninstall MT4

If you receive an error message when you are trying to uninstall MT4 stating you do not have sufficient privileges you will need to edit a value in your computer's registry.

1. Press Start then type in "regedit" and press enter. This will bring up your computer's registry.

2. Press ctrl + F and type in "EnableLUA". (You can also find this by going through the menu tree on the right. You would need to go to HKEY_LOCAL_MACHINE > Software > Microsoft > Windows > CurrentVersion > Policies > System)

3. Double click on EnableLUA in the right side of the registry editor window.

4. Change the value data from 1 to 0 and press OK.

5. Close the registry editor window and restart your computer. After you have restarted your computer, you will be able to uninstall MT4 though the task manager.

Additional EAs, Indicators and Scripts for MT4 at FXCMapps.com

 

[Jason Rogers]

Introducing Micro Lots for Index and Commodity CFDs

Attention CFD Traders

FXCM is making exciting new updates to our CFD offering.

Most CFD instruments on FXCM accounts will be enabled to trade in smaller sizes (micro lots) after February 28. Now you will be able to trade indices and commodities in 1/10th the size as was previously used. This means you can trade these instruments in smaller amounts, freeing up your available margin and allowing you greater flexibility in your trading.

Watch Video on PowerPoint​

General FAQs

1. How will CFD lot sizes change?

You will now be able to trade indices and commodities in 1/10th the size as was previously used. For example:

If you open a US30 position today:
Currently, the minimum trade size is “1” which equates to a $1 profit/loss for each price tick. On a USD denominated account, FXCM requires a $90 margin deposit for each 1 lot traded. Margin rates will vary for accounts denominated in other currencies.

If you open a US30 position after February 28:
The minimum trade size will remain “1”, however because the pip cost is being reduced by 1/10th, the profit/loss for each price tick will be 10 cents USD. The required margin will subsequently be $9 USD.

2. How will open positions and orders be affected?

Historical and open positions/orders will also be reduced by 1/10th. The lot size of these positions will be multiplied by 10 so that the profit/loss & rollover posted to your account remains the same. For example:

2 lots of NAS100 are opened on 1 January, which has a 100 point profit equating to a profit of $200 USD. Margin requirements are set at $25 per lot ($50 for 2 lots). How will existing positions appear after February 28?

Essentially, your position will remain exactly the same, only it will now appear as a 20 lot position as opposed to a 2 lot position.

NOTE: Positions and orders include: open positions, pending/resting orders, closed trades, deleted/cancelled/rejected historical orders, & execution orders that resulted in closed/open trades.​

3. Why is FXCM changing the value of the lot size on its CFD instruments?

FXCM is making this change so that you can trade CFDs in smaller amounts. This will allow you to free up your available margin and allow you greater flexibility in your trading.​

4. Which CFD instruments will be affected?

CFD Instruments that will have the value of a lot reduced by 1/10th:

CFD instruments that will have the minimum trade size reduced:

The minimum trade size for most CFD instruments is 1. This will remain unchanged for all but two CFD instruments, the HKG33 and the JPN22. For these instruments, instead of reducing the value of each lot by 1/10th, the minimum trade size will simply be reduced by 1/10th. This will have the same effect as allowing you to trade in smaller sizes.

1. HKG33: The minimum trade size for the HKG33 is currently 10. This will be reduced to 1.
2. JPN225: The minimum trade size for the JPN225 is currently 100. This will be reduced to 10.

CFD instruments not affected:

Spot metals are unaffected as they already have very small per pip values.

1. XAU/USD
2. XAG/USD
3. XPD/USD
4. XPT/USD

5. Will margin requirements change?

Yes. As the value of 1 lot will be reduced by 1/10th, the margin requirements for that position will also be reduced by 1/10th. Please register for a practice account to see updated margin requirements.​

6. Will the “Max Quantity” for CFD positions be raised?

Yes. The maximum amount allowed in a single trade/ticket will be increased by a factor of 10 for affected CFD instruments.​

MetaTrader 4 FAQs

1. How will my Expert Advisors (EA) be affected?

All Expert dvisors and manually created Orders and Pending Orders for affected CFD instruments will automatically update to the new volume size after February 28. Any new Order or Pending Order created after February 28 on an affected CFD instrument will be subject to the new volume size.

Expert Advisor users should update the Input values of their EAs to compensate for the new volume size. This is normally done by changing the Lot Size variable in the EAs Inputs menu (accessible with the F7 key). All Symbol/Instrument names will remain the same.

If your EA used a Lot Size of “1” prior to February 28, then you should change the Lot Size to “10” after February 28 to maintain the same trade size. As an example, an EA trading the UK100 prior to February 28 using a Lot Size of “5”, should be adjusted to a Lot Size of “50” after February 28, to maintain the same trade parameters.​

2. How will my scripts be affected?

Like EAs, any script which relies on inputting an order size will need to be adjusted accordingly.​

3. How will my Indicators be affected?

Indicators will not be affected.​

Before and After Table

The table below reflects MMR (margin requirements) for a USD denominated account. For a comprehensive list of MMR, please in other account denominations please see the CFD Product Guide.

Please let me know if you have any further questions.

 

[Jason Rogers]

CFD Trading Hours for Presidents' Day

On Monday 17 February, the US observes Presidents' Day. Below are the holiday trading hours (GMT) for energy, metal and index CFDs. Forex trading hours continue as normal.

 

[tar]

Good move on the CFDs lot size reduction ...

 

[kalott]

Jason

about the ninja offer and monthly trade volume

http://www.fxcm.co.uk/products/specialty-platforms/ninjatrader/free-software/

"Second, each month, trade a sum of at least 500k in round turn "

If i trade US30 as an example it would be 32 USD per point? (32 X 16 000)
or 32 trades 1 USD per point?

is this correct?

Or 500 x 1 USD per point?

 

[Jason Rogers]

Jason

about the ninja offer and monthly trade volume

http://www.fxcm.co.uk/products/specialty-platforms/ninjatrader/free-software/

"Second, each month, trade a sum of at least 500k in round turn "

If i trade US30 as an example it would be 32 USD per point? (32 X 16 000)
or 32 trades 1 USD per point?

is this correct?

Or 500 x 1 USD per point?

Hi Kalott,

When I mentioned the 500k per month volume requirement in order to get NinjaTrader for free, I was referring to currency trades. If you're trading the US30, then the current minimum trade size is 1 USD per point as you mentioned. That means you would need to do 50 trades at that size in a month to meet the volume requirement. However, it's worth noting that starting next month, the minimum trade size on US30 will be reduced to 10 cents per point. You would need to do 500 trades at that size in a month to meet the volume requirement.

If you plan to meet the free NinjaTrader volume requirement by trading US30 or other CFDs, then it is possible but I suggest you notify your account rep when setting up your NinjaTrader account. Then our Operations department can be alerted to check your CFD trading volume instead of just your forex volume each month to count towards the free software licence.

Jason

 

[glyder]

hi Jason,
any official word from FXCM on this story?
in particular how the firms practices have changed since this case?
I seem to remember changes to the trading structure being made sometime
back, it may be worth reiterating them.
Many thanks

http://www.fca.org.uk/news/fca-fine...nfair-profits-and-not-being-open-with-the-fca

 

[Jason Rogers]

hi Jason,
any official word from FXCM on this story?

Hi Glyder,

Our system was updated in 2010 to pass all potential price improvements to clients, and our clients have received the benefit of price improvements since that time. In our official statement, we mentioned that over the past 6 months alone FXCM clients have benefited from over $15 million in price improvements.

Like the NFA action discussed in 2011, this has to do with positive slippage not being passed on in full when transactions were offset with liquidity providers prior to the 2010 update.

It's important to note that FXCM is currently one of the only firms in the industry to give price improvements on market and limit orders. I have mentioned over the past couple of years how many traders with other brokers currently experience re-quotes if the market moves in their favor, but often don't receive re-quotes for the better price when the market moves against them. Earlier this month in their newsletter, the FCA announced a thematic review of best execution, which we welcome to introduce best execution standards across the industry that benefit traders in the same way our traders have benefited for years.

Taking a look at FXCM price improvements today…

Analyzing a total of 43,128,901 forex and metal trades executed by FXCM during the six month period of August 2013 -January 2014, 6,391,641 or 15% of the trades benefitted from price improvements totaling $15,726,247. Of the total number of trades executed, 4,648,672 trades were limit and limit entry orders. Sixty percent of those limit and limit entry orders were positively slipped providing clients $7,296,520 in price improvements. Of the total trades executed in the six month period of August 2013 - January 2014 clients were executed at their requested price 73% of the time with no slippage. Only 12% of orders were slipped negatively. As mentioned before, FXCM is currently one of the only firms in the industry to give price improvements on market and limit orders.

At FXCM, there are no re-quotes and traders benefit from the positive slippage in full whenever it's available.

 

[glyder]

Jason,

Many thanks for your response.
It looks like all this business was way back in the past & FXCM have moved on with improved service for their clients.

Hi Glyder,

Our system was updated in 2010 to pass all potential price improvements to clients, and our clients have received the benefit of price improvements since that time. In our official statement, we mentioned that over the past 6 months alone FXCM clients have benefited from over $15 million in price improvements.

Like the NFA action discussed in 2011, this has to do with positive slippage not being passed on in full when transactions were offset with liquidity providers prior to the 2010 update.

It's important to note that FXCM is currently one of the only firms in the industry to give price improvements on market and limit orders. I have mentioned over the past couple of years how many traders with other brokers currently experience re-quotes if the market moves in their favor, but often don't receive re-quotes for the better price when the market moves against them. Earlier this month in their newsletter, the FCA announced a thematic review of best execution, which we welcome to introduce best execution standards across the industry that benefit traders in the same way our traders have benefited for years.

Taking a look at FXCM price improvements today…

Analyzing a total of 43,128,901 forex and metal trades executed by FXCM during the six month period of August 2013 -January 2014, 6,391,641 or 15% of the trades benefitted from price improvements totaling $15,726,247. Of the total number of trades executed, 4,648,672 trades were limit and limit entry orders. Sixty percent of those limit and limit entry orders were positively slipped providing clients $7,296,520 in price improvements. Of the total trades executed in the six month period of August 2013 - January 2014 clients were executed at their requested price 73% of the time with no slippage. Only 12% of orders were slipped negatively. As mentioned before, FXCM is currently one of the only firms in the industry to give price improvements on market and limit orders.

At FXCM, there are no re-quotes and traders benefit from the positive slippage which is dependent on liquidity.

 

[Jason Rogers]

Attention CFD Traders

FXCM is making exciting new updates to our CFD offering.

Most CFD instruments on FXCM accounts will be enabled to trade in smaller sizes (micro lots) after February 28. Now you will be able to trade indices and commodities in 1/10th the size as was previously used. This means you can trade these instruments in smaller amounts, freeing up your available margin and allowing you greater flexibility in your trading.

Watch Video on PowerPoint​

General FAQs...

Just a reminder that micro lot sizes for commodity and stock index CFDs are now available on FXCM live accounts


Highlights of this upgrade:


- Micro lot sizes (approximately 10 cents per pip) for popular CFD instruments (US 30, SPX 500, UK 100 ...)

- Lower Margin Requirements (UK 100 minimum margin requirement was $90, New MMR is $9)

- Smaller trades sizes mean more flexibility and lower transaction costs (Spread on GER 30 lot was $2.40, but is now 24 cents)


As always, there are no re-quotes when trading with FXCM

 

[Jason Rogers]

New Trading Hours for Daylight Savings Time in the US

Daylight Savings Time in the US begins on Sunday, March 9th. That means the following changes to FXCM trading hours in GMT starting next week. Forex trading opens on Sundays between 22:00 and 22:15 GMT. The trading desk closes on Fridays at 21:55 GMT.

In addition, for FXCM clients on our newest MT4 server which has New York Close charts, please note that the time zone on your server is switching from GMT+2 to GMT+3 to remain in sync with the 5pm New York Close.

 

[Jason Rogers]

New Trading Hours for European Summer Time

European Summer Time begins on Sunday, March 30th which means the following changes to FXCM trading hours starting next week.

Forex trading hours remain unchanged opening on Sundays between 22:00 and 22:15 GMT and closing on Fridays at 21:55 GMT.

 

[Jason Rogers]

End of Daylight Savings Time in Australia

Daylight Savings Time in Australia ends on Sunday, April 6th which means new trading hours for AUS200. Below is a list of our CFD trading hours starting next week.

Forex trading hours remain unchanged opening on Sundays between 22:00 and 22:15 GMT and closing on Fridays at 21:55 GMT.

 

[Jason Rogers]

Holiday Trading Hours for April

Below are the holiday trading hours for CFDs in April. All times listed are in GMT.

Forex trading hours remain unchanged, opening on Sundays between 22:00 and 22:15 GMT and closing on Fridays at 21:55 GMT.

 

[chapip]

My Entry order at FXCM did not triggered.

I put an entry order to short the pound but the order did not triggered. I already made an inquiry and it takes 2 days.

 

[chapip]

I put an entry order to short the pound but the order did not triggered. I already made an inquiry and it takes 2 days.

I really think is a platform mistake because the CHART shows a short entry order and the PLATFORMS shows a long entry order.

 

[chapip]

I really think is a platform mistake because the CHART shows a short entry order and the PLATFORMS shows a long entry order.

Sooooooo, so far this is what's going on. The entry order executed like 6 hours later, the platform still shows a pending long entry order and, the entry limit order is gone, missing, vanished, etc. This platform has issues. Still no email from FXCM.

 

[Jason Rogers]

I put an entry order to short the pound but the order did not triggered. I already made an inquiry and it takes 2 days.

Hi Chapip,

Your screenshot shows that the Ask button is highlighted in your chart toolbar. That means your chart is displaying the Ask or Buy price available in the market. However, your entry order to short the pound will be triggered based on the Bid or Sell price. The Bid price is lower than the Ask price due to the Bid-Ask spread.

Please view click on the Bid button on your chart toolbar and confirm when the Bid price reached a level to trigger your enter order to sell.

 

[Jason Rogers]

Holiday Trading Hours for May

Below are the holidays for CFD trading in May.

Forex trading hours remain unchanged, opening on Sundays between 22:00 and 22:15 GMT and closing on Fridays at 21:55 GMT. For the holiday schedule for rollover interest (AKA swaps) visit the DailyFX Rollover Calendar.

 

[Jason Rogers]

I really think is a platform mistake because the CHART shows a short entry order and the PLATFORMS shows a long entry order.

the platform still shows a pending long entry order and, the entry limit order is gone, missing, vanished, etc. This platform has issues. Still no email from FXCM.

Hi Chapip,

You are misinterpreting the information on your platform. When it says "LE" that does not indicate a "long entry order". The "L" stands for limit order.

The screenshot below shows you have a limit order to sell GBP/USD at 1.67965, and you've specified that if that entry order is executed, then you want to place a limit order to buy at 1.67557 as a profit target for your short position.

The screenshot below shows you have a limit order to buy GBP/USD at 1.67655 with no additional limit order to be placed if that order gets executed.