FXCM Discussion

Hi an1mrl,

Accounts with FXCM UK are governed by ESMA regulations which requires negative balance protection on an account level basis. One of the the ESMA rules enacted this year was for negative balance protection limiting the overall losses for retail clients.

In other regions such as FXCM Australia the trading agreement specifies circumstances in which the negative balance will be waived by FXCM. You can read more in point 27 of the terms of business.

As a general rule of trading, managing the amount of leverage you use in your account is one way you can protect your own account from going into a debit balance. Leverage can magnify both profits and losses and would be the likely reason you would end up with a debit balance. The more leverage being used, the greater the risk. For example, if you had a long position in GBP/USD today and leveraged your account 10x , then the 1% drop would be magnified into a 10% loss of your account. If you were leveraged 100x then a 1% drop could be magnified into a 100% loss on your account. Any more than that and you could potentially go into a debit balance.

Jason

73.62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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HI Jason.
can you please tell me what the leverage is on an Fxcm demo account?
Berit

The German Federal Financial Supervisory Authority (Bundesanstalt fĆ¼r Finanzdienstleistungsaufsicht ā€“ BaFin) has ordered FXC Markets to immediately cease offering investment services and advice to German investors. BaFin stated that the two companies associated with the brand, CRLINK Limited and BT Systems LTD, are not authorised by it.

The German financial watchdog has previously warned investors of that the unauthorized company is an FXCM clone, so be careful.

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Hi Everyone,

Please note the special holiday hours below for both trading and customer support for the next couple of weeks. CFD holiday hours can be found here. Please be aware that during the holidays rollovers may be larger than normal due to illiquid markets.

I will be out of the office until the new year, so any questions or private messages will be answered once I return.

Happy Holidays :tada: !

Jason

73.62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Will we get a little bit extra positive rollover since itā€™s Christmas? :gift::grinning:

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Happy New Year Cryptopotamus!

I know this is after the fact but itā€™s unlikely, and I would bet on it being just the opposite if anything :sob:

Rollover is based on overnight lending rates which can become more volatile as we approach end of year. This article from Bloomberg yesterday is illustrative of what can happen Eye-Popping Surge in Repo Rate Blamed on Rules Instead of Funding Stress , but I havenā€™t heard of rollover abnormalities from the last week. Just something to be aware of.

Jason

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Hi,
In order for the EA to run specifically only on one FXCM account. I need to specify in the EA coding the ā€œBroker Nameā€ and " Account Number". It does not work when I enter the Broker Name as FXCM or Forex Capital Markets Inc or FXCM Limited. Please advice how should I specify the Broker name for FXCM in the coding.

Thank you.

Hi MeeSooToo,

Is this an EA you created yourself? In general, you arenā€™t required to input any information about hte broker or your account info. The exception I could think of is if you acquired the EA from another developer that requires you to input your broker name and account number so the EA is only used by verified purchasers of the EA. If this is the case it would be best to get help from the EA developer on the formatting of how to enter the name and account number.

Jason

What are the requirements to register and be a verified trader using FXCM platform?

Hello sir, is it possible for me to open fxcm account even if i am not a US resident nor citizen? I am a filipino seafarer sailing within US territory.

Anyone here experiencing an issue when withdrawing funds with FXCM lately. Iā€™ve tried to withdraw funds to my debit card but after clicking the submit button, page says the session has expired and I need to log in again. Tried so many times but every try gave me same error. Same issue using different browsers and computer. Tried troubleshooting guides from google but gets me nowhere. I think the issue is with FXCM.

Have you spoken with their live chat?

Sounds like a technical issue to meā€™ maybe relating to their access to your card provider.

Yes and twice already. First, they said they will contact me via email with the resolution after couple of hours but that conversation happen last monday and I havenā€™t heard anything from Alexander E. who was the one I chatted with. Second, they advice me to send a withdrawal request via email.

Is this with their London office? Did you send an email as requested.
Sounds a little strange to me especially that they have not got back to you as promised.
Maybe you should do an even stronger live chat and ensure you get z copy of the text.
That kind of service is not good enough.

Another possibility is the credit card you are using. Brokers will only give withdrawals back to the same card from which the funds were deposited to them and for sums not exceeding the amount deposited. They have to treat withdrawals to credit cards as ā€œrefunds of purchasesā€ and not actually account withdrawals.

Any other withdrawals are usually made by wire to a bank account.

@xengineer
Did you resolve this issue ok?
It would be good to hear what the problem was.

Sorry, I was on vacation last week.

The issue is not resolve yet. I plan to document the issue step-by-step and send it to them later. I tried withdrawing via Skrill and it did not gave me an issue although I know it will be cancelled since the last deposit method was via credit card. Iā€™m expecting an email about that and from that I will reply to divert the funds to my credit card. It is kinda workaround but it is not the solution.

My friend tried to withdraw via same method and she was able to do it without issue so I think it is an issue with my account.

OK thanks for the update. It does sound like a ā€œlocalā€ issue and not an FXCM difficulty. Good luck with sorting it! :+1:

Hi Jason
is there a resource please where i can download the trading view watch lists TXT files for your own tickers to import directly to trading view and do i just need to add all manually?

thx