Best Thread FXCM Discussion

[rogue8]

Hi Rogue,

The underlying instrument for FXCM's SPX500 CFD product is the E-Mini S&P 500 Future traded on the CME. I can't speak towards the Yahoo CBOE data, but the SPX500 contract will track the E-Mini S&P 500 contract. Could there be differences? Yes. As moka correctly points out, there is no guarantee. The quoted CFD price is based on the relevant futures price minus a fair value calculation, which is impacted by interest rates and dividends, to give the cash value of the index. Also keep in mind the target spread on SPX500 is 5 but it can vary which may cause differences.

Jason

Thanks Jason. I'll see how I can get round the opening gap thing.

 

[Jason Rogers]

CFD Holiday Hours: 14-17 April

Below are the CFD holiday trading hours for Good Friday and Easter. Forex trading hours remain unchanged.

Please note all times are New York EST.

 

[Jason Rogers]

Hi Jason, I saw your name under recent posts and I would be interested to hear your comments and thoughts on this thread.

http://www.trade2win.com/boards/spr...-percentage-winning-traders-real-numbers.html

Don't be misled by the title, it is actually about the FCA's proposed changes to companies such as yours.

Kind Regards
Jason

Hi Jason,

Thanks for letting me know about the thread. I hadn't seen it.

We will of course comply with any disclosures or margin rules required by the FCA. The proposed profitability stats and reduction in leverage proposal sounds similar to changes that were made in the US.

We conducted a series of profitability studies a few years back on the 'Traits of Successful Traders' that analyzed millions of trades. One in particular portion of the study looked at net effective leverage and profitability. Here's the chart that sums it up fairly clearly:

The complete study can be found at https://docs.fxcorporate.com/fxcm-traits-of-successful-traders-guide.pdf

As net effective leverage in a traders account goes up, profitability tends to go down.

It will be interesting to see how any stats are calculated and presented since certain variables such as leverage, trading style (scalper, swing trader, position trader), volatility of pair/product traded, etc. tend to have an impact on trader profitability. So a one-size-fits-all approach to the stats may leave out valuable information for current and prospective traders in my opinion.

Jason

 

[Jason Rogers]

Please note the holiday hours for certain CFD products next week. All times are in New York EST.

Have a great weekend!

 

[Jason Rogers]

Please note the holiday hours for certain CFD products next week due to the Memorial Day and Dragon Boat Festival holidays. All times are in New York EST.

Weekly forex trader hours remain the same.

 

[Jason Rogers]

FXCM's quarterly spreads data was released yesterday, and for Q1 2017 EUR/USD and USD/JPY had an average spread of 0.2 and 0.4 pips respectively during peak trading hours on standard accounts with No Dealing Desk execution. 70% of EUR/USD and 61% of USD/JPY volume occurred during peak hours which are from 6 am to 6 pm GMT.

You can find the full report listing spread data for all forex pairs and CFDs attached to this post. The report compiles trading data from FXCMs Standard accounts for Q1 2017.

Jason


Disclaimer: The information provided is historical in nature and does not imply that FXCM maintains a particular capacity or performance level. Past results are not indicative of future performance. The price at which an order is executed does not negate the high level of risk involved with forex trading. Trading could result in losses regardless of the pricing quality of opening or closing transactions. Spreads Data comes from all available liquidity providers liquidity providers subject to change.

 

[Jason Rogers]

FXCM Holiday Trading Hours - July 3 & 4

Please note the holiday hours for certain CFD products on July 3 and 4. All times are in GMT.

There are no changes to forex trading hours.

Have a great weekend!

Jason

 

[Jason Rogers]

Trading Station Desktop Update

Hi Everyone,

An update to Trading Station Desktop was released last weekend adding some very useful functions that we hope will improve your trading experience. Here’s a highlight of a few of the new features:

New Contingent Orders

A Contingent order is an order that contains two (or more) entry orders linked together by a certain condition of their execution. Previously, we only had OCO orders available in Trading Station Desktop. The recent update makes available the following additional contingent orders:

- OTO (One-Triggers-the-Other)
- OTOCO (One-Triggers-One-Cancels-the-Other)
- If-Then
- If-Then OCO

You can create contingent orders by right clicking on a symbol and selecting “Create Contingent Order” from the menu. You can also press Alt+E on your keyboard. The online user guide has more information on how each order type works.


Improved Reports

A new Statement Summary Report is now available. This new report is designed to give you a summary of all products traded over a specified period along with volume, gross P/L, commission, rollover, net P/L, and open/close date.

The previous Combined Account Statement Report is still available which will give details on every trade for the specified period of time.

You will also notice when selecting the report type you also have the option for ‘Account Analytics’. This option will take you to the Trading Analytics app where you can run detailed analysis of your trading history such as profitability by symbol, profitability by time of day, average gain per trade, average loss per trade, and much more.


Marketscope Price Panels

The Bid/Ask price panel is now available directly on the chart for trading. Previously, you could trade from the chart by clicking on the price on the right hand axis. The price panel now gives you an additional method to place trades, plus a drop down menu for you to select the amount to trade if you have the platform set to one-click trading as I have done in the screenshot.

Let me know if you have any questions, and as always we appreciate any feedback you have about the update.

Jason

 

[NVP]

jason whats the story mate....FXCM struggling ?

 

[Signalcalc]

Seem to be struggling with their iOS app update, over a month now and not working.

 

[Brumby]

The story with FXCM is that Global Brokerage Inc (NASDAQ:GLBR), formerly known as FXCM Inc, will be filing for “Chapter 11” protection under the United States Bankruptcy Code, as part of a planned reorganization of the company. The filing I believe is prompted by an expected de-listing which would trigger an event default of its existing loans. The restructuring will involve exchanging its existing convertible notes to five-year non-convertible notes, carrying a higher rate of interest - 7% instead of 2.25%.

It should be noted that Global Brokerage’s main asset is its 50.1% holding in FXCM Group LLC, which operates the FXCM Retail FX brand. In other words, the "news" is about the restructuring plans of a major shareholder of the FXCM retail brand.

 

[NVP]

yep......have to say ive only got minimal trading funds in them at the moment .....i dont like surprises

 

[Jason Rogers]

Seem to be struggling with their iOS app update, over a month now and not working.

Hello Signalcalc,

What issues are you having with the mobile app?
I’d be happy to assist.

Jason

 

[Jason Rogers]

jason whats the story mate....FXCM struggling ?

Hello NVP,

FXCM releases our monthly volume numbers, and our latest release for the month of October shows our clients transacted $192 billion in trading volume. And we had over 121,000 active accounts during the month of October. FXCM Group’s financial information for the third quarter was also released recently which you can find here.

In other words, the "news" is about the restructuring plans of a major shareholder of the FXCM retail brand.

Brumby,

Although Global Brokerage holds a 50% voting interest in FXCM Group and a minority economic interest, Global Brokerage is not the same thing as FXCM. To the contrary, FXCM management and its Board of Directors have engaged in efforts to insulate FXCM from Global Brokerage’s issues. FXCM’s other shareholder is Leucadia National Corporation, with a 50% voting interest and the majority economic interest, is a NYSE-listed holding company with a $9 billion market cap.

Jason

 

[Jason Rogers]

February Trading Hours

Please note the February holiday hours for CFD products. All times are in GMT. There are no changes to forex trading hours.

Jason

*This product is at its initial launch phase and currently only available to accounts held with FXCM Markets and FXCM Australia under certain servers.

 

[michel-kalib]

Hi Everyone,

I have created this thread to answer any questions about FXCM and forex trading. Please feel free to post any questions and I will do my best to answer them. I cannot publicly discuss the details of any clients trading activity, so please privately message with regards to personal issues.

Kind Regards,

Jason Rogers
FXCM

Present fxcm have welcome deposit bonus?

 

[Jason Rogers]

Present fxcm have welcome deposit bonus?

Hello Michel,

We don’t offer deposit bonuses, and I would be cautious about any broker offering a deposit bonus. Often times they will require insanely high minimum trading volume requirements in order to withdraw the bonus, sometimes in a short period of time, and that’s if they even allow the withdrawal of the bonus

Jason

 

[Jason Rogers]

FXCM Launches REST API and Python Wrapper

Our new REST API was launched today and is now available to connect to FXCM's trading server. The REST API lets you integrate with our trading system using popular programming languages such as Python and JavaScript, and you can use it to retrieve historical chart data and place trades, along with real-time market data and position update information via WebSocket. The REST API also uses OAuth 2.0 specification via token for a more secure integration.

A Python Wrapper was also released. Easily integrated with Jupyter Notebook, fxcmpy is a Python package that exposes all capabilities of the REST API via different Python classes. The classes allow for a convenient, Pythonic way of interacting with FXCM’s REST API on a high level without needing to take care of the lower-level technical aspects.

Documentation including sample code and real case studies can be found on our Github page. Let me know if you have any questions.

Jason

 

[reach4thelasers]

Are FXCM still doing their trading competition? Now that I can actually trade I'd like to give it a shot

 

[Jason Rogers]

Are FXCM still doing their trading competition? Now that I can actually trade I'd like to give it a shot

Hi reach4thelasers,

We no longer have the trading contest available. It ended a few years ago.

Jason