Spread betting at FXCM

[Jason Rogers]

Jasson, two questions about the charts if I may.

1) Will it ever be possible to customise the charts in terms of selecting in between time bars ...eg 2 mins and 3 mins ? If not could you tell me of a suitable chart package that I could use as an add on with the FXCM price feed/trading platform.

2) Going back to the Sunday night trading ...I notice that Sunday night's price action is added into Monday's one day bar. I see the reasoning behind that because Sunday night's session is short. However, what I don't understand is why the whole line is shown from Friday's close down to Monday's low. It gives the false appearance of Monday's range being far greater than it actually is. Why is there not a gap from todays' "real" high of 1.5323 (thus far) to Friday's close of 1.5389 ? It makes no sense that the charts are compiled in the way they are. If I refer back to 19th April via the one day charts in say a week, I could easily read the range to be far greater than it actually was.

Thanks.

Yes, it is possible to access 2min and 3 min charts. In the Period menu, type the letter m followed by the number of minutes you want each candle to contain and press the ENTER key (ie m2 for 2 minute charts, m3 for 3 minute charts). See pic below:

You can also use the same formatting for hourly charts such as h7 for 7 hour charts and h9 for 9 hour charts, etc.

2) The charts are continuous so there will be no gaps in the charts. I do understand what you mean; however, any stop or limit orders within that gap would have been triggered therefore it is included in the days range.

-Jason

 

[Jason Rogers]

Hi
I'm hoping to spreadbet through FXCM and use the MT4 Charts all on a mobile device

Is this possible?

Regards

Simon

Hi Simon,

We don't have a mobile platform for MT4 accounts, but we have mobile platforms available for the FX Trading Station II accounts on the iPhone, Blackberry and Windows Mobile devices http://www.fxcm.co.uk/fxcm-mobile-forex.jsp .

The mobile platform is in beta release so we're still working to add more functionality. The platform is primarily focused on giving you access to monitoring your account and placing trades at this point. Charting upgrades will be focused on in later updates.

-Jason

 

[SJD01]

Hi Simon,

We don't have a mobile platform for MT4 accounts, but we have mobile platforms available for the FX Trading Station II accounts on the iPhone, Blackberry and Windows Mobile devices http://www.fxcm.co.uk/fxcm-mobile-forex.jsp .

The mobile platform is in beta release so we're still working to add more functionality. The platform is primarily focused on giving you access to monitoring your account and placing trades at this point. Charting upgrades will be focused on in later updates.

-Jason

Ok Thanks

Can I use MT4 (The boston tech VPS web version) on my mobile and the fxcm price feed on a speadbet account? or would i need another type of account ?
Regards
Simon

 

[hackenbush78]

Thanks, Jason ...not quite sure how I put another "s" in your name ...apologies.

Re the quseton about the continuous chart, without gaps, would it be possible for me to edit the chart ? ie take out the part of the line I don't think should be there ?

 

[Vaco]

Hi swandro,

The charts do not have an option for range bar charts. Do you know of a website that has the formula for how to create it and I can send the information to the developers for possible inclusion in the platform?

FXCM also has a programming services team that can create custom indicators for both the FX Trading Station II and MT4 if you would like to have it created immediately for a cost.

-Jason

Range bars simply form every 10/20/30 pips (custom setting) rather then every 5/15/30 mins.

eg

on a 10 pip setting you would get a new bar every time price moves 10 pips.

 

[Jason Rogers]

Range bars simply form every 10/20/30 pips (custom setting) rather then every 5/15/30 mins.

eg

on a 10 pip setting you would get a new bar every time price moves 10 pips.

Thank you Vaco! We are developing a new platform called Strategy Trader that has this ability. I should have more information about Strategy Trader next month which I can share with you.

-Jason

 

[Jason Rogers]

Ok Thanks

Can I use MT4 (The boston tech VPS web version) on my mobile and the fxcm price feed on a speadbet account? or would i need another type of account ?
Regards
Simon

You could use the spreadbet account for the FXCM price feed. As far as MT4 on your mobile through the VPS web version, I've never heard of this being tried before, but if they allow web access for the VPS through your mobile device then I guess it could work.

-Jason

 

[Jason Rogers]

Thanks, Jason ...not quite sure how I put another "s" in your name ...apologies.

Re the quseton about the continuous chart, without gaps, would it be possible for me to edit the chart ? ie take out the part of the line I don't think should be there ?

No worries

You wouldn't be able to. The chart doesn't have an option to edit the candle to reflect the gap between trading close and open.

MT4 would be the only other suggestion I can think of. MT4 candles start with a new tick, so there will be a gap between the old tick on the previous candle and the new tick which starts the next candle. MT4 isn't designed to purposefully show gaps, but that's how the chart works due to the way the program is setup. Here's an example:

 

[hackenbush78]

Ok thanks.

 

[Jason Rogers]

FXCM is developing a web based trading platform and it's in the beta testing phase. If you would like to beta test it, we would be very interested in getting your feedback. In particular, it should work well for those that can't download the platform due to download restrictions, are using a Mac computer, or can't access the regular platform due to firewall restrictions. Let me know and I'll get you send the access information over to you by PM.

-Jason

 

[Jason Rogers]

FXCM UK is adding new CFD products to the platform this weekend such as Brent Crude Oil (UK OIL), the Swiss stock index (SUI30), and the Swedish stock index (SWE30).

I will be at FXCM's currency trading expo in Las Vegas until next Wednesday, so any posts will be answered then.

Have a great weekend!

-Jason

 

[Jason Rogers]

FXCM made a major press release earlier this morning about an important acquisition:

ODL Group Limited To be Acquired by FXCM Holdings, LLC

ODL Group Limited ("ODL"), a leading, independent forex, derivatives, equities and commodities broker, announces today that it has agreed on terms to be acquired by US-based FXCM Holdings LLC ("FXCM"), a leading global forex broker that caters to both retail and institutional markets. ODL's strong UK and European businesses will provide an excellent complement to FXCM's sizeable operations in both the United States and Asia. The combined companies will operate as one of the largest non-bank forex brokers globally servicing over 200,000 live trading accounts with combined client assets in excess of US$800 million. The deal is still pending final due diligence review and regulatory approval.

Founded in 1999, FXCM is one of the largest forex brokers, regulated by several financial regulators including the Financial Services Authority in the UK and the Commodity Futures Trading Commission in the U.S. FXCM is one of very few forex and CFD brokers to regularly publish its balance sheet. With over $135 million in firm capital (assets minus liabilities), FXCM exceeds regulatory requirements.

Post acquisition, ODL will continue to trade under its current name. A major benefit to ODL clients will be that they gain access to FXCM's No Dealing Desk execution on forex trades. Under No Dealing Desk execution, forex trades are fully-automated and executed back-to-back with one of the world's premier banks or financial institutions. Over ten banks compete to provide FXCM with bid and ask prices, resulting in low spreads and fast execution, with no intervention from a dealing desk on forex trades. Another major benefit of No Dealing Desk execution is the ability to place orders within one pip of the market with no restrictions.

Commenting on the acquisition, Drew Niv, CEO of FXCM, said: "For several years, FXCM has been working towards becoming a major player in Europe. The deal with ODL will provide us with a great opportunity to achieve this. We believe FXCM will be the only retail forex firm with a truly global footprint. In an industry in which size and scale are important, this is a major advantage."
​

The following advantages will be realized post acquisition:

• Client assets in excess of US$800 million
• Over US$150 Million In Firm Capital
• Over 200,000 Live Trading Accounts
• Over 700 Employees Worldwide
• Regulated by the FSA (United Kingdom); the CFTC (United States); the SFC (Hong Kong); the ASIC (Australia). Additionally, FXCM is
• regulated in Italy, France, Germany and Dubai.
• Member firm of the London Stock Exchange and NYSE Euronext, LIFFE.

http://www.odlmarkets.com/fxcm/en/portal/

 

[jonobrienuk]

FXCM made a major press release earlier this morning about an important acquisition:

ODL Group Limited To be Acquired by FXCM Holdings, LLC

ODL Group Limited ("ODL"), a leading, independent forex, derivatives, equities and commodities broker, announces today that it has agreed on terms to be acquired by US-based FXCM Holdings LLC ("FXCM"), a leading global forex broker that caters to both retail and institutional markets. ODL's strong UK and European businesses will provide an excellent complement to FXCM's sizeable operations in both the United States and Asia. The combined companies will operate as one of the largest non-bank forex brokers globally servicing over 200,000 live trading accounts with combined client assets in excess of US$800 million. The deal is still pending final due diligence review and regulatory approval.

Founded in 1999, FXCM is one of the largest forex brokers, regulated by several financial regulators including the Financial Services Authority in the UK and the Commodity Futures Trading Commission in the U.S. FXCM is one of very few forex and CFD brokers to regularly publish its balance sheet. With over $135 million in firm capital (assets minus liabilities), FXCM exceeds regulatory requirements.

Post acquisition, ODL will continue to trade under its current name. A major benefit to ODL clients will be that they gain access to FXCM's No Dealing Desk execution on forex trades. Under No Dealing Desk execution, forex trades are fully-automated and executed back-to-back with one of the world's premier banks or financial institutions. Over ten banks compete to provide FXCM with bid and ask prices, resulting in low spreads and fast execution, with no intervention from a dealing desk on forex trades. Another major benefit of No Dealing Desk execution is the ability to place orders within one pip of the market with no restrictions.

Commenting on the acquisition, Drew Niv, CEO of FXCM, said: "For several years, FXCM has been working towards becoming a major player in Europe. The deal with ODL will provide us with a great opportunity to achieve this. We believe FXCM will be the only retail forex firm with a truly global footprint. In an industry in which size and scale are important, this is a major advantage."
​

The following advantages will be realized post acquisition:

• Client assets in excess of US$800 million
• Over US$150 Million In Firm Capital
• Over 200,000 Live Trading Accounts
• Over 700 Employees Worldwide
• Regulated by the FSA (United Kingdom); the CFTC (United States); the SFC (Hong Kong); the ASIC (Australia). Additionally, FXCM is
• regulated in Italy, France, Germany and Dubai.
• Member firm of the London Stock Exchange and NYSE Euronext, LIFFE.

http://www.odlmarkets.com/fxcm/en/portal/

Hi Jason.

Does this mean then that FXCM spreadbetting is going to offer all the instruments that are available through ODL?

Jon.

 

[Jack Hughes]

Hi Jason.

Does this mean then that FXCM spreadbetting is going to offer all the instruments that are available through ODL?

Jon.

And will the spreads be more competitive?

 

[Jason Rogers]

Hi Jason.

Does this mean then that FXCM spreadbetting is going to offer all the instruments that are available through ODL?

Jon.

Hi Jon,

Some less popular products on ODL are being discontinued.

ODL will also be using FXCM's NDD execution shortly, so FXCM spreads will apply. A list of the products being discontinued and added can be found here: http://www.odlmarkets.com/fxcm/en/ndd-mt4/

-Jason

 

[Jason Rogers]

Many of you have asked about spreadbetting using the MT4 platform and whether FXCM is working to offer this. While I have seen no definitive plans as of yet, FXCM is developing a new automated trading platform as an alternative to MT4. The new platform is called Strategy Trader, and it is in beta testing at the moment. I think that those of you who have used MT4 will find it very easy to use find your way around Strategy Trader.

See the attached screenshot

Here are some of the highlights for the new platform:

- Tick Charts
- Create any time frame chart
- No bridges
- Advanced backtesting with detailed strategy/trade analysis
- Access to all fxcm order types
- Uses C# for coding, easy to hookup and debug in visual studio
- Over 150 chart indicators, one of the most powerful charting package to be offered by FXCM

The platform is currently in beta testing, and you're welcome to request a demo if you would like to join in on the beta testing: http://www.fxcm.com/lp-strategy-trader-beta.html

Let me know if you have any questions.

-Jason

 

[Jason Rogers]

Hi Everyone,

I will be away on vacation from May 27 through June 6, I won't be replying to any new posts during that time. Any new posts will be answered on June 7th.

For immediate help with questions about FXCM or trading, please contact FXCM client services http://www.fxcm.co.uk/contact-fxcm.jsp.

BTW, trading hours will continue as normal this weekend. The Memorial Day holiday in the US and other public holidays around the world on Monday will not affect the trading hours. Trading closes on Friday at 4:00pm EDT and opens on Sunday at 5:15pm EDT.

Until then, happy trading, and I'll be back in a couple of weeks!

Jason

 

[Jack Hughes]

The platform looks good, but as it stands the spread on main indices are twice as wide as the opposition, or even four times in the US30. Any chance of these being made more competitive?

 

[Jason Rogers]

Platform Update:

Mobile Trading Station II: A new version of the Mobile Trading Station II was released today for iPhone and Windows Mobile. The new version will allow you to trade CFD products (if available on your account). The Blackberry and Android versions will be updated by the end of this week.

US Oil: Please be aware that the USOil CFD contract expires on Friday (June 18th). Any open positions in USOil will be closed at expiration.

-Jason

 

[brasil2000]

The platform looks good, but as it stands the spread on main indices are twice as wide as the opposition, or even four times in the US30. Any chance of these being made more competitive?

Jason Rogers, any news on cutting spreads :?: