Best Thread FXCM Discussion

hello, can you tell me about latency levels and execution during news, will I get excessive slippage?
 
MPepe68 said:
hello, can you tell me about latency levels and execution during news, will I get excessive slippage?
Click to expand...

Hi MPepe68,

The location of your MT4 terminal relative to the server is the determining factor when it comes to latency. The solution is to use a co-located Virtual Private Server (VPS).

The risk of slippage increases dramatically during news events. This is a risk you must be prepared to accept, if you decide to trade the news. That said, you can be confident of receiving a fair price on FXCM's No Dealing Desk (NDD) forex execution, because of how we offset your orders with our 10+ liquidity providers.

In the NDD model, FXCM acts as a price aggregator. Once a mark-up is added, we take the best available bid and best ask prices from our liquidity providers and stream those prices to the platforms we provide. That's the price you see. FXCM's liquidity providers include global banks, financial institutions, and other market makers. This large, diverse group of liquidity providers is one of the things that make this model special.

When you trade with a standard Dealing Desk, you may not know where the prices are coming from or if they actually reflect prices in the broader market. FXCM's deep and diverse pool of liquidity providers helps to ensure that NDD prices are reliable - not set by a single provider - and that they do reflect the broader forex market. Also, through competition, the NDD model ensures that prices are market-driven and fair. FXCM rewards liquidity providers with order flow when they provide the best bid or ask prices. The more advantageous their prices are the more order flow the liquidity provider will receive. The less advantageous, the less order flow they will receive. This efficient selection method keeps a single liquidity provider from adversely affecting your price.

FXCM does not take a market position, eliminating a major trading conflict of interest. Dealing Desk brokers may actively trade against your positions. They can profit when you lose. Alternatively, they may lose when you profit. Because of this, Dealing Desk brokers are incentivized to manipulate your orders. They may for example place restrictions on stops and limits or re-quote your orders. FXCM's NDD execution model does none of this. Your orders automatically fill from the NDD price feed, which is the best available bid and best ask prices from all of our liquidity providers after FXCM's mark-up. Additionally, your orders are anonymous to the liquidity providers. They cannot see your stops, limits, or entry orders; they only see market orders coming from FXCM.

Furthermore, it's worth noting that slippage can be positive or negative with FXCM. Positive slippage is when your order gets filled at a better price, also known as a price improvement. Currently, FXCM is only of the brokers to allow clients to allow clients to benefit from positive slippage available on all order types including market and limit orders. By contrast, some brokers re-quote their clients rather than let them to benefit from positive slippage. There are no re-quotes at FXCM, and in just 6 months from August 2013 to January 2014, our clients received over $15.5 million in price improvements.

While price improvements are available on all order types, they most commonly occur with limit (take profit) orders due to the direction of price movement when such orders are triggered. As an MT4 user, you'll be interested to know that unlike some brokers, FXCM offers true limit orders on MT4. That means your limit order can only be filled at the specified price or better (positive slippage). By contrast, some brokers will convert your take profit order into a market order when it's triggered opening up the risk that it could get filled at a worse price (negative slippage).
 
mayball said:
Hi Jason, are microlots available for spreadbetting accounts?
Click to expand...

Hi Mayball,

Yes, we offer the same trade sizes for both spread betting and non-spread betting accounts including micro lots (approximately 10 cents per point: http://www.trade2win.com/boards/forex-brokers/88834-fxcm-discussion-102.html#post2291908

At FXCM, the only difference between spreading betting and non-spread betting accounts is the tax-free status the former provides to traders in the UK and Ireland.

Welcome to Trade2Win :)

Jason
 
Trading Hours for Memorial Day

Below are the Memorial Day trading hours for CFDs on Monday, May 26th. All times listed are in GMT.

Forex trading hours remain unchanged, opening on Sunday between 21:00 and 21:15 GMT and closing on Friday at 20:55 GMT.


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For the holiday schedule for rollover interest (AKA swaps) visit the DailyFX Rollover Calendar.

* While the Australian Securities Exchange (ASX) does not list May 26th as a holiday, they tend to close early on US holidays. That means there's a strong possiblity that AUS200 trading will close early for Memorial Day.
 
Holiday trading hours for CFDs in July

All times listed are in GMT.

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Forex trading hours remain unchanged, opening on Sunday between 21:00 and 21:15 GMT and closing on Friday at 20:55 GMT.

For the holiday schedule for rollover interest (AKA swaps) visit the DailyFX Rollover Calendar.
 
Jason Rogers said:
All times listed are in GMT.

UFHneoK.png


Forex trading hours remain unchanged, opening on Sunday between 21:00 and 21:15 GMT and closing on Friday at 20:55 GMT.

For the holiday schedule for rollover interest (AKA swaps) visit the DailyFX Rollover Calendar.
Click to expand...

Just a reminder for all CFD traders of our holiday hours on Friday which are detailed in my post above (forex hours remain as normal)

I will be out of the office for the July 4th holiday here in the US and will respond to all posts and private messages after I return on Monday, July 7th. For immediate assistance, please call us toll-free anytime 24 hours a day.
 
MetaQuotes will stop supporting MT4 builds older than 600

Please be advised that after August 1st, MetaQuotes will stop supporting MT4 builds older than 600. After that date clients who use a build older than 600 will receive an "old version" error message and will not be able to access their accounts. Build 600 was released Feb. 3rd 2014 so most MT4 users should have already updated to a newer build. However, if you're still using an old version of MT4, you can get the latest MT4 build (number 670 at the time of this post) from our website.

You can check your MT4 build number on the platform by going to Help and clicking on About.

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For traders with any questions about why MetaQuotes is no longer supporting older builds, this article on their website has more information.
 
Just a heads up: due to the UK bank holiday on Monday, August 25th trading in UK100 will be closed that day and resume normal trading the following day. Trading hours for other CFDs and forex remain unchanged.
 
Quick question:

On the spread betting FXCM trading station is there a way to specifically set the amount per point? It only lets you set the total amount i.e 100 on the DAX is 7.96 per point, I want to be able to trade a specific amount per point like £2pp etc.

IG just let you trade what amount you wanted per point but cant seem to find a setting for this on FXCM.
 
iLeeman said:
Quick question:

On the spread betting FXCM trading station is there a way to specifically set the amount per point?
Click to expand...

Yes, there is. In fact, that is the default setting of Trading Station if you download the platform from FXCM's spread betting website: http://download.fxcorporate.com/SB/SBFXTS2Install.EXE

However, if you've already downloaded Trading Station from one of our other websites, there's no need to download a new copy. Simply go to System > Options from the menu at the top right of the platform. In the Options window that appears, select General Trading on the left-hand side.

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Then change the Amount Mode field from "Lot" to "Currency/Point Trade".

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Please let me know if you have any further questions on this.
 
Last edited:
Holiday Trading Hours for September

Below are the CFD trading hours for holidays in September. All times below are in GMT.

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Forex trading hours continue as normal. For the holiday rollover interest schedule, please visit the DailyFX Rollover Calendar.
 
Jason ................remind me when charts come up again over weekend ..I need to refresh some of my charts for research

N
 
NVP said:
Jason ................remind me when charts come up again over weekend ..I need to refresh some of my charts for research

N
Click to expand...

Hi N,

We often use Friday evening to Saturday morning (New York time) to perform routine maintenance and updates on our servers. I typically find that I can log back into my accounts by Saturday afternoon in the US, which would be Saturday evening for you in the UK.
 
Enquiry

Actually, i like fxcm services, and i am new in forex trade, and i am interested to learn practical, but as fxcm do not have office in thailand, so it is diffcult to learn practical trade.
I understand demo account is good, but still have fear about trade.
If you know some person in bangkok, thailand, it will be good for me to learn more

Regards,
Deepak (sam)
 
CFD Trading Hours for End of Daylight Savings Time in Europe

Hi Everyone,

Daylight Savings Time will end in Europe on Sunday, October 26th. That means the trading hours for CFDs that follow European market times will shift by one hour starting next week. I've highlighted the changes below in yellow.


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Note that Daylight Savings Time does not end in the US until Sunday, November 2nd. That means I will post another update next week that will include further changes to the trading hours of CFDs that follow US market times.
 
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