So…
I like FXCM’s trading platform.
Here is the problem. I can’t access it after the market closes. I am demo-ing at the moment with FXCM but most of my trade set ups are during the weekends. I like everything about FXCM’s platform besides the unsually high spreads (compared to oanda) but shutting the platform during the weekend is just not in the best interest for traders. I want to confirm this with other FXCM-ers. Is this true? What do you do with this when you want to prepare before market open? Open MT4 from another broker?
Best,
Elephant
I use FXCM too, you have to wait until 5:15 PM (EST) before you can use the platform again, which is rather frustrating (I used to think it was an issue with my MT4 platform to start with!)
Perhaps another broker to cover this period could be something to consider. I’m sure that Jason (the FXCM rep) will be along in a bit.
Beetlejuice.
That’s True. They will close the platform for maintenance purpose. But you can open the platform Sunday 12 hours before market opening (I think). For Analyzing the charts I will open MT4 platform of other brokers, not FXCM. Because FXCM MT4 shows weekend candles.
Happy Weekend.
Yeaup, it is frustrating because I take quite a bit doing my top down analysis. I wonder why they shut it down for maintenance and not reopen it earlier?
I would like his response to this topic. I REALLY, REALLY, REALLY, REALLY like the trading platform. However, the platform opening during opening hours will just impede my chances of getting some opening action.
Oh, I did not notice that. Weekend candles… Something new. I will be looking for other platforms- updated compared to MT4 of course. I will respond back if i find any goodies.
Sure. Their MT4 showing Weekend candles but not in their Trading Station 2 platform. Find the differences. IF you are rely on Price action then these weekend candle seriously affect your analysis.
Hi Elephant,
As Salim mentioned, the reason you can’t always log into our platforms during the weekend is because we use that time when the trading desk is closed to perform routine maintenance and updates to our servers. There are free web-based charts on DailyFX.com which show our price feed that you can access even on the weekend.
Regarding your comment about our spreads, it’s important when comparing spreads to consider what execution type is being used by each broker. For example, FXCM offers traders two types of forex execution: No Dealing Desk (NDD) and dealing desk (DD). While FXCM believes that NDD execution provides the best overall trading experience, we also offer DD execution as an option for traders whose primary concern is low spreads. As an example, I took a snapshot of this [live table of broker spreads.
](Forex Broker Guide @ Forex Factory)
As you can see from this example, our DD spreads compare favorably with other brokers using DD execution. Our DD execution has the added advantage that it uses the FXCM NDD price feed as a base to derive prices and execute orders. That means our DD execution shares important features with our NDD execution such as no requotes and no restrictions on stops and limits. If you’d like try our new lower spreads for yourself, here’s a link to the demo.
Jason