Hi Everyone,
As a reminder, the Greek elections are being held Sunday, and there’s a possibility it could cause immense volatility. Please factor this possibility into your trading going into the weekend with any positions you have open.
For more info about the elections, you can read this DailyFX article: CAUTION: Greek Elections Could Spur Immense Volatility, Euro Outlook Unclear | DailyFX
Have a great weekend!
Jason
A couple notices for trading this week…
There are no changes to forex trading hours or customer service hours on Wednesday for the U.S. 4th of July holiday, but there are some changes to trading hours for certain CFD products. See the attached screenshot for holiday hours.
The second thing you should be aware of are changes to the rollover schedule due to this week’s holiday. Today, July 2nd, there is 2x rollover for all currency pairs, and tomorrow, July 3rd, there is 0x rollover for all currency pairs.
Let me know if you have any questions.
-Jason
Hi Everyone,
Just wanted to let you know that we’ve officially opened beta testing for Ninja Trader. You can sign up by visiting this webpage and clicking on the Ninja Trader section. A form will appear for you to request entry into the beta.
Jason
Hi Everyone,
FXCM is now offering lower spreads to clients with FXCM Australia and FXCM UK (coming soon to FXCM US). Below are the new spreads for twelve of the most popularly traded currency pairs. You can now pick the execution type that best fits your trading. Choose No Dealing Desk forex execution which we recommend for the best overall trading experience, or the new Dealing Desk execution which provides lower spreads.
[I]Click here for the complete list.[/I]
For those whose primary concern is transaction cost, the lower spread option is ideal. These new spreads are available on all our platforms including Trading Station, MetaTrader 4 and NinjaTrader. For a free practice account, click here: (Trading Station Demo | MT4 Demo). If you would like to speak with an FXCM specialist about our new lower spread offering, click here to chat live or call us toll-free anytime 24 hours a day.
Jason
Hi Everyone,
Just a reminder that this coming Monday, September 3rd is the Labor Day holiday in the US. Forex will continue trading as normal 24-hours-a-day next week. The holiday trading hours for CFD products are listed below in GMT time. Please manage your trades accordingly.
Jason
Just an update: Our new lower spreads that I mentioned earlier are now available through FXCM US. They were already available through FXCM UK and FXCM Australia.
Due to Hurricane Sandy, US equity and futures markets have been closed or subject to reduced hours. As a result, trading on the following CFD products was closed at 9:15am EDT: US30, SPX500, NAS100 and JPN225.
These products will remain closed until the CME exchange provides additional details on reopening: Futures & Options Trading for Risk Management - CME Group
Just an update: trading on JPN225 has re-opened.
Latest update: US30, SPX500, NAS100 and JPN225 will be closed again today.
Click here for more info on market closures from the CME: Hurricane Sandy Update
Update: All CFD products have resumed normal trading hours - http://docs.fxcorporate.com/user-guide/ug-cfd-product-guide-ltd-en.pdf
This Thursday is the Thanksgiving Holiday in the US which will impact the rollover schedule and trading hours for certain CFD products. So please take note:
[B]1. Rollover: [/B] The JPY pairs will have 5X rollover and all other pairs will have 4X rollover [U]today[/U] as a result of the holiday. There will be 0 rollover for all pairs tomorrow.
[B]2. Forex Trading: [/B] There are no changes to forex trading hours. Trading will continue through Friday as normal and close on Friday at the normal time of approximately 4:55pm ET. Please be aware that liquidity will likely be lower than normal which could impact spreads.
[B]3. CFD Trading: [/B] The times listed below show the change to CFD trading instruments in US Eastern Time (GMT -5 hours). (CFD trading is not available to residents of the United States)
Let me know if you have any questions.
Jason
I will be out of the office Thursday and Friday, so any questions will be answered when I return. Wishing everyone a Happy Thanksgiving!
One notification in addition to the below, there is no rollover for any currency pairs today. Today’s rollover was taken into account yesterday.
Since GFT’s announcement yesterday stating that they are pulling out of the US retail forex market, FXCM has received several inquiries from GFT clients. Below I wanted to address some of the most frequently asked questions.
[B]Does FXCM still offer retail forex trading to US clients?[/B]
Yes, we have no intention of leaving the US retail market. In fact, we see this as an opportunity to get new business as smaller firms leave the US. FXCM has continued to grow in the US in terms of accounts and deposits, even as other firms have contracted, as you can see from the most recent quarterly reports from the CFTC.
[B]Why did GFT pull out of the US market?[/B]
We can’t speak for another company, but their announcement said it was a business decision. What we do know is that US forex regulations are some of the strictest in the world. A minimum of $20 million in capital is required just to be able to accept clients, and then additional capital is needed for open positions and customer assets. In this environment of lower volatility and lower interest rates many forex brokers are struggling to make money, and many have had to make drastic cuts.
That is why we feel FXCM’s full transparency on its financials, and push for all firms to be more transparent as well is something that should be more important than ever to clients. Additionally, as one of the few publicly-traded forex brokers (NYSE: FXCM) our regularly published financial reports give our clients confidence in who they are doing business with that is not possible with a privately held broker.
FXCM’s Director of Government Affairs Charlie Delano has been posting for the past 3 months on the importance of trading with a financially stable broker, and you can find that discussion here.
I’m one of the US GFT clients looking for a new home. I’m pretty sure I’ll sign up today.
I have a question in another thread regarding the Active Trader account.
Thanks!
Hi Mark,
It’s a shame what happened over there, but we’re glad to have you. I responded to your other post. Let me know if you have any other questions.
Jason
[B]All times below are in Eastern Standard Time (EST)
Forex Trading Hours and FXCM Customer Service Hours
CFD Trading Hours for Christmas
CFD Trading Hours for New Year’s
Happy Holidays from FXCM![/B]
Does FXCM now offer the DOLLAR on all of it’s platforms? Thanks…
Hi DaTrader,
Yes, the Dow Jones FXCM US Dollar Index basket (Ticker: USDOLLAR) is available to trade on all our platforms including Trading Station, MT4 and NinjaTrader. Note that to trade USDOLLAR your account must be with FXCM UK or FXCM Australia.
Jason
[B]Seasons Greetings![/B]
In an earlier post, I mentioned our holiday trading hours. In addition, it’s important to note that with holidays comes holiday rollover. Here’s a look at what the rollover interest schedule will be like from now until the end of the year.
[B]December Rollover Calendar from DailyFX.com[/B]
[B]Happy Holidays to Everyone![/B]
Jason
Thanks Jason…
