Spread betting at FXCM

[Jon41]

Jason I understand your claims re NDD for FX. However how do you handle other instruments such as indices? Assume you have a dealing desk for them?

 

[Jason Rogers]

Jason I understand your claims re NDD for FX. However how do you handle other instruments such as indices? Assume you have a dealing desk for them?

Hello Jon,

That is correct. The indices, commodities, and metals CFD products are executed through the dealing desk, though there are still no re-quotes.

-Jason

 

[Jason Rogers]

CNBC's Money in Motion Currency Trading tv show sponsored by FXCM premieres tomorrow, March 11 at 5:30pm ET. It was originally scheduled to launch on Feb. 25th, but it was delayed 2 weeks. I know the time isn't the most convenient for traders in the UK and Europe, so you may want to set your TV to record it . Here are the show times:

Europe
Premieres Friday, March 11th 23:30 CET

United States
Premieres Friday, March 11th 5:30p ET

Asia
Premieres Saturday, March 12th 0630 SIN/HK

Australia
Premieres Saturday, March 12th 0930 AEDT​

 

[Vaco]

Jason,

I am trying to add a custom sound alert to a custom alert I d/l from code base, will .wmp play or do I need to convert it.

thanks

 

[Jason Rogers]

Jason,

I am trying to add a custom sound alert to a custom alert I d/l from code base, will .wmp play or do I need to convert it.

thanks

Hi Vaco,

The file will need to be converted to .wav in order to use it as a custom sound alert in Marketscope.

-Jason

 

[dmt257]

Jason, if I were to open a SB account with FXCM and you went belly up. I would get my money back from the FSA right?

 

[Jason Rogers]

Jason, if I were to open a SB account with FXCM and you went belly up. I would get my money back from the FSA right?

Hi dmt,

Accounts with FXCM UK are segregated in accordance with FSA client money rules. So in the unlikely event of default, your funds in the segregated account are protected and cannot be used to benefit other creditors.

-Jason

 

[Truth Seeker]

Jason

He wants a YES or NO.

 

[dmt257]

Indeed, a yes or no so we can be clear on this please.

 

[Truth Seeker]

Hmmm, still no reply, this is getting fishy.... YES or NO so we can print it out and keep it.

 

[Jason Rogers]

Jason

He wants a YES or NO.

Indeed, a yes or no so we can be clear on this please.

I understand you would like a yes or no answer, not only for FXCM but with any broker, but FSA regulations do not specify for this.

What FSA regulations provide is that as a retail trader your funds will be segregated according to FSA client money rules. Therefore funds held in segregated accounts are protected and cannot be used to benefit other creditors.

FXCM is also a member of the Financial Services Compensation Scheme in the UK. The FSCS is the UK’s statutory fund of last resort for customers of financial services firms. In the event financial services firms were to become insolvent and be unable to return all client funds on deposit (as necessary) clients then have the option to file a claim with the FSCS to recoup their funds. The actual level of compensation a client may receive from the FSCS will depend on the outcome of the FSCS’s investigation and the basis of their claim. As of 31 December 2010, compensation limits for investment claims have increased to £85,000.

Any yes or no guarantee by any broker would be disingenuous as the protection is as specified by regulations. For more information on the FSCS please visit their website:
http://www.fscs.org.uk/what-we-cover/about-us/

On top of these regulatory protections, FXCM is a publicly traded company on the New York Stock Exchange (NYSE: FXCM), and our audited financial statements are publicly available for you to access. FXCM has no debt and over $190 million in cash. The most recent release for Q4 earnings and full 2010 results can be found here: http://ir.fxcm.com/phoenix.zhtml?c=238885&p=irol-newsArticle&ID=1534848&highlight

-Jason

 

[Jason Rogers]

UK100 and GER30 Spreads

UK100 and GER30 Spreads

As of April 3, the spread for UK100 and GER30 has been reduced from 2(3) to 1(2). This means the tightest spread possibly offered throughout the day will be 1 pip. Here's a screenshot of the UK100 and GER30 taken a few minutes ago:

 

[Ross Spur]

Is it still 4pt on US30, though, which isn't competitive when the opposition offers 2 or 1 (or zero, perhaps?)?

 

[Jason Rogers]

Is it still 4pt on US30, though, which isn't competitive when the opposition offers 2 or 1 (or zero, perhaps?)?

Hi Ross,

FXCM maintains a no re-quote policy for stock indices, metals, and oil. We will offer the lowest spread possible in order to maintain this policy. I would suggest reading through the thread of the broker which offered zero pip spreads to see what their clients have experienced in terms of dealer referral and re-quotes. I understand that from a marketing perspective, zero spreads would be very attractive in getting traders to open an account, but then you have to be prepared to deal with the execution delays that can appear once you become profitable or start to trade in the direction the market is moving.

FXCM traders don't have to worry about re-quotes or dealer referral.

-Jason

 

[Ross Spur]

Hi Ross,

FXCM maintains a no re-quote policy for stock indices, metals, and oil. We will offer the lowest spread possible in order to maintain this policy. I would suggest reading through the thread of the broker which offered zero pip spreads to see what their clients have experienced in terms of dealer referral and re-quotes. I understand that from a marketing perspective, zero spreads would be very attractive in getting traders to open an account, but then you have to be prepared to deal with the execution delays that can appear once you become profitable or start to trade in the direction the market is moving.

FXCM traders don't have to worry about re-quotes or dealer referral.

-Jason

I know zero spreads is unfeasible (and have said so on the other thread), but there's usually no requote or referral problem with the SBs offering 2pt or 1pt on US30.

 

[Vaco]

Jason,

when You first open up market scope the 4 charts are side by side so you can view them all at the same time.

My charts are all now tabbed and I can't figure out how to set them up side by side.

Probably something simple but I can't seem to be able to find it.

 

[Black Swan]

whilst on the subject of marketscope when are you getting ticks as well as mins, so you can select 1000 ticks for example as opposed to ten minutes? Also alerts when certain conditions (that we choose) are met? Both these options are on PRT..

 

[kalott]

Jason,

when You first open up market scope the 4 charts are side by side so you can view them all at the same time.

My charts are all now tabbed and I can't figure out how to set them up side by side.

Probably something simple but I can't seem to be able to find it.

Marketscope > file > default layout

under file > layouts, more options like save layout

 

[Jason Rogers]

Jason,

when You first open up market scope the 4 charts are side by side so you can view them all at the same time.

My charts are all now tabbed and I can't figure out how to set them up side by side.

Probably something simple but I can't seem to be able to find it.

The Default Layout is one way to get the windows back to their original layout; however, it will remove any charts you currently have open and return the 4 default charts (EUR/USD, GBP/USD, USD/JPY and USD/CHF).

Here's another option you can use If you don't want to have your existing charts and setup removed. Take a look at the screenshot of the chart below, it shows 4 charts tabbed at the top. If you left clcik on the tab at the top and drag it, you will see a blue diamond appear in the middle of the and 4 additional blue arrows on each edge of existing chart.

These blue arrows show you where you can place the chart. When you drag your cursor over any of the arrows, it will cause a blue shaded area to appear. This is where the chart will display if you let go of the left click on that arrow. Look in the image below, I let go of the left click over the arrow displayed in the previous picture, and it moved the GBP/USD chart to the bottom of the chart window.

Let's do one more example. There are now 3 tabs (EUR/USD, USD/CHF, and USD/JPY) in the window at the top, and GBP/USD is in the bottom the bottom. I want to move EUR/USD to the right of GBP/USD so that 3 charts are displaying on the screen. I left click on EUR/USD, and drag it to the right side arrow over the GBP/USD window. I circled the blue arrow in red just to make sure we're clear where I moved the cursor to.

When I let go of the left click on the arrow, this is what I see:

You can drag the tab to any of the blue arrows to arrange the charts in any configuration. As an example, below is a screenshot of marketscope with 10 different charts showing in a random configuration I just created. Hope that helps, and let me know if you have any questions.

 

[Jason Rogers]

whilst on the subject of marketscope when are you getting ticks as well as mins, so you can select 1000 ticks for example as opposed to ten minutes? Also alerts when certain conditions (that we choose) are met? Both these options are on PRT..

I'll have to have a talk with the developers about custom tick charts. Not sure if/when this will be added. To hold you over for now, check out this custom indicator from FXCodeBase.com which can be used to create custom tick bars on Marketscope http://www.fxcodebase.com/code/viewtopic.php?f=17&t=3347&p=8570&hilit=tick+chart#p8570

-Jason