Fxcm?

[Czar]

Originally Posted by Jason Rogers

contact FXCM directly and grill customer support with questions.

LOL yes, that's the best thing to do

[jaguar1175]

I have been messing around with the FXCM demo for some time although not much lately. I recently downloaded their updates and now I can't place stops or limits. I can't even close a trade. I tried to chat with a tech in their chat area, but when I mentionned I was just demo-ing, he dropped me like a hot potato. I used to be quite impressed with them, but they are certainly different now. Are these new rules that are being mentionned forcing them to stop offering stops and limits, etc?

[Jason Rogers]

Originally Posted by jaguar1175

I have been messing around with the FXCM demo for some time although not much lately. I recently downloaded their updates and now I can't place stops or limits. I can't even close a trade. I tried to chat with a tech in their chat area, but when I mentionned I was just demo-ing, he dropped me like a hot potato. I used to be quite impressed with them, but they are certainly different now. Are these new rules that are being mentionned forcing them to stop offering stops and limits, etc?

Yep, it would be due to the FIFO rules and how it's affecting the FXCM platform. You'll have to use OCO orders to act as stops and limits, or to close a position immediately use a market order. The demos through FXCM UK are not affected.

[jaguar1175]

What are OCO orders and how do they act as stops?

[Jason Rogers]

Originally Posted by jaguar1175

What are OCO orders and how do they act as stops?

OCO allows you to create two orders linked together. When one executes it cancels the other. Hence OCO stands for One Cancels Other.

If a trader has an open position, then a stop and limit is attached to the trade stipulating where to exit (either at a profit for the limit or a loss for the stop). The stop and limit need to be connected because if your stop gets executed, you want your limit deleted as well. And vice versa, if your limit executes, you want your stop deleted.

If the orders were not conditional, then the unfilled stop or limit order would open a new position.

FXCM has a video on their website that walks through examples.

[Merchantprince]

Do you guys know if FXCM UK offers a Micro account? I couldn't find any of evidence of one when I switched from the US website to the UK one.

[Jason Rogers]

Originally Posted by Merchantprince

Do you guys know if FXCM UK offers a Micro account? I couldn't find any of evidence of one when I switched from the US website to the UK one.

FXCM Micro is allowing users to transfer their account to FXCM UK due to the FIFO rules, but the option for a micro account hasn't been listed on the UK website yet.

[ichweissnicht]

i have used fxxm as my broker since october 2008
(i am from hk)

until now, everything is ok...

but some body told me that they have a blacklist for the clients who wins much....(to delay your trade execution) ( i just heard from my friends)

is it normal for every broker?

[Merchantprince]

I have opened an FXCM Micro demo account and will be opening a Live trading Micro account with them next week. I can confirm both types of UK Micro accounts are available to U.S. customers. Real happy so far with their trading software and excited to see what my experience will be like with them. I'm certainly hoping for the best while I learn this exciting new business.

[Jason Rogers]

Originally Posted by ichweissnicht

i have used fxxm as my broker since october 2008
(i am from hk)

until now, everything is ok...

but some body told me that they have a blacklist for the clients who wins much....(to delay your trade execution) ( i just heard from my friends)

is it normal for every broker?

If a dealing desk is taking the other side of your trades and profiting from your losses then they may be. Which is why it's important to see what type of execution your broker is using. With No Dealing Desk/Straight Through Processing the broker is profiting through the spread or a commission rather than trader losses.