Spread betting at FXCM

[Jason Rogers]

Hi Jason,

I was wondering if you could tell me what the trading hrs are for the ftse 100 with fxcm? Are they 24hrs with a live account or do they always close at 8pm til 8am gmt?

Cheers.

Hi gooders,

Sure can. The trading hours for UK100 cfd which tracks the FTSE100 is 07:00 - 20:00GMT daily. You can't open or close existing positions outside of these hours, but you can add stops and limit orders

-Jason

 

[uk dave]

Hi gooders,

Sure can. The trading hours for UK100 cfd which tracks the FTSE100 is 07:00 - 20:00GMT daily. You can't open or close existing positions outside of these hours, but you can add stops and limit orders

-Jason

That's cfd Jason, is sb the same?

 

[Jason Rogers]

That's cfd Jason, is sb the same?

Spreadbet is the same.

All trading hours, execution, etc. apply to both account types (spread bet and regular cfd/forex accounts) the same. The only thing that distinguishes the two is the "wrapper" or designation placed on the cfd/forex account which makes it a spread bet account to give preferential tax treatment for UK traders.

 

[pboyles]

Jason

MF Global really took the heat off you this week. $600 million missing, who cares about $20 million fines now. You owe them a pint this evening.

 

[Jason Rogers]

Jason

MF Global really took the heat off you this week

Heat? Good luck banging your drum, and all the best pboyles.

 

[gooders72]

Hi gooders,

Sure can. The trading hours for UK100 cfd which tracks the FTSE100 is 07:00 - 20:00GMT daily. You can't open or close existing positions outside of these hours, but you can add stops and limit orders

-Jason

Ok cool. Cheers Jason. I've been using the demo account for some time now and in my experience it's the best platform out there. David Waring says so too, I see. Just to clarify, you don't mind scalpers? Scalping is one tactic I employ depending on market conditions and I had big problems scalping with my previous sb company. If scalping's welcomed with fxcm I'll be opening an account with you in the new year.

 

[Jason Rogers]

Ok cool. Cheers Jason. I've been using the demo account for some time now and in my experience it's the best platform out there. David Waring says so too, I see. Just to clarify, you don't mind scalpers? Scalping is one tactic I employ depending on market conditions and I had big problems scalping with my previous sb company. If scalping's welcomed with fxcm I'll be opening an account with you in the new year.

Great to hear you like the platform. We roll out improvements two to three times per year based on customer feedback. In fact, we're scheduled to roll one out next weekend, and I should have details by Monday on the new features.

FXCM does not mind scalpers. You can scalp as much as you want, closing and opening trades as frequently as you want since there are no re-quotes on our platform.

 

[Ross Spur]

Great to hear you like the platform. We roll out improvements two to three times per year based on customer feedback. In fact, we're scheduled to roll one out next weekend, and I should have details by Monday on the new features.

FXCM does not mind scalpers. You can scalp as much as you want, closing and opening trades as frequently as you want since there are no re-quotes on our platform.

How about responding to customer feedback about making your US30 spread competitive?

 

[Jason Rogers]

How about responding to customer feedback about making your US30 spread competitive?

Hi Ross Spur,

Appreciate the reply.

I know we’ve covered this before, but 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. If we are able to lower spreads while maintaining this policy, we certainly will as we did with the UK100, GER30, and AUS200. FXCM traders don't have to worry about re-quotes or dealer referral.

While spreads are important, I would consider being able to actually execute trades at those spreads (and especially while profitable) just as important. I understand how advertisements for 0 or 0.9 pip spreads can be appealing, but you also have to keep in mind some of the obstacles traders have encountered when trading with these types of brokers.

Hope that helps.


- Jason

 

[gle101]

Hi Ross Spur,

Appreciate the reply.

I know we’ve covered this before, but 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. If we are able to lower spreads while maintaining this policy, we certainly will as we did with the UK100, GER30, and AUS200. FXCM traders don't have to worry about re-quotes or dealer referral.

While spreads are important, I would consider being able to actually execute trades at those spreads (and especially while profitable) just as important. I understand how advertisements for 0 or 0.9 pip spreads can be appealing, but you also have to keep in mind some of the obstacles traders have encountered when trading with these types of brokers.

Hope that helps.


- Jason

Sorry Jason, but it doesn't justify a 4 point spread on the Dow. Eventually you have to come around in order to compete. Yes I notice you have 1 point spread on the FTSE and DAX, good, is it a variable spread (1-2 spread) and but what about slippage, anyone?

____________
"Take control with Risk & Money Management"

 

[Jason Rogers]

Announcing the latest FXCM Trading Station II: 20 November

The latest FXCM Trading Station II platform is available now! We’ve added Fractional pip pricing on market range orders, more intuitive charting, more Fibonacci tools, improved strategy backtesting and optimization, and trading in GBP/Point (or currency/point).

To install the latest version of Trading Station Desktop, visit the FXCM UK download page.

If you would like to wait, the latest Trading Station II will automatically update when you login on Sunday, 20 November.

GBP/Point Trading
More ways to select trade size.

Fractional Pip Pricing on Market Range Orders
Increased price control and more precise execution.

Line Studies and Chart Elements
A better way to add lines.

Fibonacci Tools
Increased Fibonacci studies.

Strategy Backtesting and Optimization
Integrated right into the platform.

And More…
For example, if you’re looking for a specific indicator, you can now search for Indicators in the Add Indicator window.

If you don’t have an FXCM account, you can register for a demo account to try the new features.

 

[steelhead]

Can't believe all the discussion about trading with fxcm when there is a proven intent to unfairly bias trading against the customer regarding slippage, and who knows what else

Forex Capital Markets LLC Ordered to Pay More Than $14.2 Million to Settle CFTC Charges Relating to Its Failure to Supervise Customer Accounts

 

[Jason Rogers]

Can't believe all the discussion about trading with fxcm when there is a proven intent to unfairly bias trading against the customer regarding slippage, and who knows what else

Hi steelhead,

All orders with FXCM's NDD forex execution are filled based on liquidity so positive and negative slippage can occur. Every forex order type with FXCM is able to receive positive slippage, and you can find data on it located here . A Q&A about what occurred can be found here http://www.trade2win.com/boards/spread-betting/65334-spread-betting-fxcm-58.html#post1647086

-Jason

 

[pboyles]

Hi steelhead,

All orders with FXCM's NDD forex execution are filled based on liquidity so positive and negative slippage can occur. Every forex order type with FXCM is able to receive positive slippage, and you can find data on it located here . A Q&A about what occurred can be found here http://www.trade2win.com/boards/spread-betting/65334-spread-betting-fxcm-58.html#post1647086

-Jason

Yes you do but only as a result of being fined and made to pay compensation, what was the total, $22 million? You constantly put forward the same excuse as if nobody here knows what you were fined for.

 

[steelhead]

Hi steelhead,

All orders with FXCM's NDD forex execution are filled based on liquidity so positive and negative slippage can occur. Every forex order type with FXCM is able to receive positive slippage, and you can find data on it located here . A Q&A about what occurred can be found here http://www.trade2win.com/boards/spread-betting/65334-spread-betting-fxcm-58.html#post1647086

-Jason

Thanks. good that the new system now passes on the positive slippage in the customers favour, but if the old system was recognising negative slippage at both stages, it suggests that this ineficiency of operation was more by design than oversight. The enhancement ( correction to the system to play fairly regarding both sides ) must stem from your being caught out, having to pay a fine, damage to reputation, and need to retain a monitor to review for 3 years.

 

[pboyles]

Hell of a coincidence it wasn't done by design.

 

[steelhead]

Yes PBoyles. Hopefully all of the transparency of these decisions and rapid spread on the internet will be cautionary lessons to untainted companies to continue to play fairly with a straight bat, and make fair and honest returns, because deviating from that could mean sacrificing reputation for short term unfair profits that more than gets offset by lost client business.
What chance ?

 

[pboyles]

What chance ?

In this industry, about zero.

 

[Jason Rogers]

Hopefully all of the transparency of these decisions and rapid spread on the internet will be cautionary lessons to untainted companies to continue to play fairly with a straight bat, and make fair and honest returns, because deviating from that could mean sacrificing reputation for short term unfair profits that more than gets offset by lost client business.
What chance ?

Hi steelhead,

I agree with you that a fair and transparent system is a top priority which is why these changes were made starting in July 2010. Whether you can earn positive slippage with the broker you are trading through is something that should be a part of your decision when choosing which broker to trade through, in addition to other things such as are there re-quotes or dealer intervention. An easy one to look at is, do you ever receive re-quotes in your favor if trading with a market maker? FXCM's NDD forex execution eliminates the conflict of interest and gives you a trading environment without requotes or dealer referral.

But getting back to positive slippage, FXCM has compiled statistics to display the percentage of orders positive slipped and negatively slipped, and which orders most frequently experience each. The percentage of orders between positive and negative slippage has been roughly equal.

And we have broken this down even further to display the number of orders on a monthly basis positively and negatively slipped:

Limit and limit entry orders are the most likely to experience positive slippage which is why we highlight using limit and limit entry orders in the execution center on our website. You can find even more data on slippage broken down per order type in the complete report here: Slippage Statistics

You will also notice from an earlier post this week where I mentioned fractional pip pricing on market range orders. We're always looking for ways to give you more control over the execution of your trades.

-Jason

 

[steelhead]

FXCM and Transparency !

the doc :-

Forex Capital Markets LLC Ordered to Pay More Than $14.2 Million to Settle CFTC Charges Relating to Its Failure to Supervise Customer Accounts


has the following statement :-

'Further, the CFTC order finds that FXCM failed to produce certain records promptly in its capacity as a CFTC registrant and thereby required the CFTC to issue a subpoena to attempt to obtain required records from FXCM.'

... as transparent as a brick wall. There is a world of difference between doing the right thing because you are under scrutiny and need to be seen to be whiter than white due to previous transgressions, and operating fairly of your own volition.
When trust is lost it is hard to recover it especially if the belief is that any reform is due to outside enforcement.