FXCM Discussion

Thanks XeroFTrading. Let me know if there is ever anything I can do to help and we will be glad to have you back!

Hello Jason, I wonder if the spanish site (https://www.fxcmespanol.com) is related to the other brokers. When I enter my country of residence im automatically sent to that site. However there is a giant red flag at the bottom of that page:

“FXCM Markets no está regulado y no está sujeto a la supervisión normativa que rigen otras entidades de FXCM”

There it says roughly: FXCM Markets is NOT regulated and is NOT subject to any of the legal supervisions that apply to other FXCM entities. I would like to open an account with FXCM but how I do it under a regulated company?

Hi Martin,

www.fxcmespanol.com is an FXCM website that provides services in Spanish for our Spanish speaking clients. Accounts opened through fxcmespanol.com open with FXCM Markets which is not a part of one of our regulated entities. FXCM Markets offers services that one of our regulated entities does not provide such as higher leverage and products such as Bitcoin that many traders have requested.

However, you can still choose to open with a regulated entity if you prefer such as FXCM Australia or FXCM UK if you are a resident of Spain.

Jason

*FX/CFD trading carries a risk of losses in excess of your deposited funds

Hi Jason

how are you?

Still me :slight_smile:

I had a problem for the past few days with my FXCM app on Android… I have not updated my 'phone OS or anything, it just stops connecting so when I launch it (with the correct password and account) it never loads fully, coming up with a connection problem. The connection (both 4G and WiFi) work fine so I am not sure why suddenly the app is not working.

i tried disinstalling and re-installing it but nothing changed.

Can you help?

PS: I can access my account fine on the Desktop FXCM.

Hi PipMeHappy,

Doing well thanks :grinning: and great to see you’re still around.

Are you getting an error message when it stops loading? The newest build for Android is 1.10.26 if you can confirm that is the version that is re-installed.

Jason

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Iam in Zambia, Africa. Is it possible to open an account with FXCM? If so, how do I transfer the money to FXCM and start trading??

Hi Justin,

Yes, it is possible to open an account with FXCM if you reside in Zambia. Simply select Zambia as country of residence when completing the online application Open a Forex Trading Account - FXCM South Africa

Deposits can be made by credit card, debit card, or bank wire/electronic funds transfer.

Jason

Trading FX/CFDs carries significant risk of loss. FSP No 46534

:loudspeaker: Product Announcement - Three New CFDs Added

FXCM announced yesterday that we have added three new CFD products which you can now begin trading. Those products are WHEATF and CORNF, which have the wheat and corn futures as their underlying reference*, as well as the Index CFD US2000, a cash based CFD of the Russell 2000 Index.

If you don’t see the new products in the dealing rates window, you will need to add them via the subscription list in order to trade and view charts. From Trading Station Desktop click the Symbols button at the top of the platform, or if using Trading Station Web click on the Subscription List option in the menu on the left hand side of the platform.

Jason

*CME Group Market Data is used under license as a source of information for certain FXCM products. CME Group has no other connection to FXCM products and services as listed above and does not sponsor, endorse, recommend or promote any FXCM products or services. CME Group has no obligation or liability in connection with the FXCM products and services. CME Group does not guarantee the accuracy and/or the completeness of any market data licensed to FXCM and shall not have any liability for any errors, omissions, or interruptions therein. There are no third party beneficiaries of any agreements or arrangements between CME Group and FXCM.

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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Cool. Didn’t realize FXCM is on this forum too. Glad to see brokers active here also.

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Hi Jason_Rogers,

I wanted to know if there’s any option to protect one’s account from going into debt. I see you writing that “FX/CFD trading carries a risk of losses in excess of your deposited funds” and since I’m a newb looking for a broker it’s very possible that I blow up my initial account. No biggie if it goes to 0, but I don’t want to owe anyone anything.

Thanks in advance.

I have been working with a licensed broker ForexChief since 2016. I never faced any problem of withdrawal. And this experienced broker is ensuring me complete customized trading services: narrowest spread, 1:400 leverage, re-quote and slippage free timely and orderly trade executions, easier transaction facilities.

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 für Finanzdienstleistungsaufsicht – 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 it’s Christmas? :gift::grinning:

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Happy New Year Cryptopotamus!

I know this is after the fact but it’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 haven’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 “Broker Name” 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 aren’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?