FXCM Discussion

Broker Discussion Forex Brokers
43

Hi Jason
The FXCM low pips spread promotion for Spread Betting ended in March? The FXCM website is still showing the promo spreads (and the end date March 2018). Have they now been revised upwards? Can’t seem to find any other info on this, can you advise please.
Many thanks

1 Like
44

Hi jazzman,

The promotion was supposed to end on March 30th, but we have decided to continue with same spread levels for spread betting accounts . The website should be updated shortly removing the reference to the promotion period.

Jason

45

Hi Jason
I would like to test FXCM with a MT4 demo account WITHOUT Hedging function. There is no Myfxcm portal for demo accounts so is there a way to achieve my request?
Thanks.

46

Hi Ali,

I checked on the possibility of this, and it’s not something we will be able to setup unfortunately. On MT4, hedging is a server wide feature. Either hedging is enabled and all accounts on the server have hedging, or hedging is disabled and all accounts on the server do not have hedging. So we wouldn’t be able to customize an MT4 demo with hedging disabled. Would you be able to test it on a Trading Station demo without hedging perhaps?

Jason

48

Hi Jason

I gather from the last two posts that hedging is enabled and available on live accounts? Would you please confirm this. The reason I’m asking is that I recently saw a short opportunity on short term time frame of a currency pair on which I already had taken a long trade position on a longer term time frame…

Many thanks

49

Hi jazzman,

That is correct. Hedging is enabled on live accounts. We can disable it on live accounts setup on our own Trading Station platform if you prefer that it be disabled. On MT4 all live accounts have hedging disabled and it is not a feature that can be disabled since it is a server wide setting. You can confirm hedging is enabled by logging into www.myfxcm.com, navigate to the Account Settings menu at the top of the page and then select Hedging Functionality from the drop down menu. It will display your account and whether hedging is enabled or disabled. From there, you can enable/disable if you so choose.

Jason

50

Hi Jason

With the new changes to margins(some I like some I do not) FXCM has listed max leverage at 30:1. Assuming the current leverage is 100:1 does this mean that we will have to more than treble our accounts to continue trading at the same level?

Regards

Daz

51

Well, i am honestly very happy to see a representative from FXCM on this community forum and to clear up any misgivings from potential clients.

I was a client before, and i will happily sign up again.

Thank you for taking the time Jason. It really shows the company is serious about doing business.

You guys will hear from me soon.

1 Like
52

Hi Daz,

If you wanted to continue trading the same way, then yes you would either need to increase your account size or reduce the size of your positions.

Here’s the full list of leverage changes for FX and CFDs

  • 30:1 for major currency pairs: EUR/USD, USD/JPY, GBP/USD, USD/CHF; CHF/JPY, GBP/JPY, USD/CAD, EUR/CAD, EUR/CHF, EUR/GBP, CAD/CHF, EUR/JPY, GBP/CAD, CAD/JPY and GBP/CHF

  • 20:1 for non-major currency pairs, gold and major indices: XAU/USD, UK100, FRA40, GER30, SPX500, US30, NAS100, JPN225, AUS200, EUSTX50

  • 10:1 for commodities other than gold and non-major equity indices: USOIL, UKOIL, NGAS, XAG/USD, Copper, HKG33, CHN50 and ESP35

  • 5:1 for BUND

Jason

53

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

54

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?

55

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

56

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.

57

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

1 Like
58

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??

59

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

60

: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.

1 Like
61

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

1 Like
62

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.

63

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.