FXCM!? What the actual **** fk is this?

Broker Discussion Forex Brokers
1

First of all, I am trading only with demo accounts at the moment, so this isn’t the seizure inducing ■■■■ that it otherwise would be.

Had a couple of trades on in XAU and XAG, targets were hit for 50% of both positions, but FXCM trading view did not close them out as price went through my TP orders…

https://www.tradingview.com/x/TjWEs77c/

https://www.tradingview.com/x/UZTSAqLm/

So I opted to close them manually with market orders when price was above the TP levels…

My silver trade, which was a rethink from a trade I took yesterday, was around 900 in profit. The gold trade which was placed just this afternoon was at around 70 in profit. This was stated in FXCM at the time I shut both trades.

But turns out my profits for whatever reason have been sliced by 50%:

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And the price that I closed at, was well below the price of both assets at the time I actually closed. XAG was something like $15.9 and gold was something like $1355.

I know I am only on a demo platform but I trust the algo with the spreads is the exact same…and btw…the spreads did not show as varying this much…I also had my eye on live feeds on Trading View as I closed the trades, so this isn’t simply a case of lag on the demo platform.

…seriously, if things are always going to be like this, it makes trading cfd’s utterly impossible…taking 50% haircut on profit margins because of ‘volatility’ is fkn criminal…and actually, these guys should be criminals.

tchoh…I know that FXCM have got a horrendous reputation, but I hate the brokers that only offer MT4…Trading Station is actually decent…

…perhaps need to give ETX another roll of the dice and just stay away from Forex trades, see how that behaves (in demo mode)

2

Well before you do that how about you edit the title of your FU ETX thread. You know: maybe just tone it down a tad. Thread has gone way past your initial misgivings.

Oh and I am still happy to help. Just saying.

3

The thread title was #FUMovesRus.

I moved away from the ETX demo TraderPro, because it stopped out what I thought was one of winning trades, with a great big FU candle, that did not register on most other platforms, at least it wasn’t shown on TradingView.

I call these dirty thieving candles, that have nothing to do with anything in the market other than running trader’s out of their SL postions, F*** You Moves. Cos that is what they are. That is just the broker’s saying “Wait! Too many winners on the bus, take that mofos!”

I think the thread title is fair, and reflects activity on that broker platform, that did not affect other broker platforms.

I do want to press ahead with this, as I am confident I will be in the 10% who can make a good return doing it and if I wasn’t, then I would never start a Live account to begin with…so despite a very decent win ratio from these paper trades I have been firing off on varying platforms, I am still kicking around trying to get a feel for a platform and a broker that doesn’t feel totally janky and corrupt…

…I will take your advice and retry ETX, this time staying away from Forex as you also advised, and see how things go…but if standard cfd practice is to dramatically increase their spreads (advertised or otherwise) the minute a bit of volatilty enters the market and/or just not honour TP limit orders…then what is the point? A strategy on their part to keep profitable daytraders who only want to hit impulse moves, off their platforms?

Again, being more of a swing trader, you just might not be subject to these shenanigans.

1 Like
4

OK well this is true.

But spreads do widen. You really need to know that. I just watched them on another broker’s platform when this Fed. rate decision came out and I honestly thought there was something wrong with the platform or that I was seeing things because the loss showing on the open positions just increased like crazy until things settled down again. So it does happen.

Suppose also it would be fair and maybe prudent at this time to tell you that I don’t trade with stops so this does help somewhat I’m sure.

1 Like
5

See, this is no good.

In crypto land, and most likely in ETF, Futures, Conventional stocks land…if your limit order gets triggered, and their is a seller/buyer their to fulfill it, such as the crazy mad rampant buying or selling that is driving price into your TP order, then guess what? You get a fill.

Are you saying you were looking at winning trades on ETXTraderPro go into the negative due to Fed Release volatility?

This is just no use for short term day trading whatsoever.

6

Nooo… Wasn’t looking at my own platform (ETX) at the time but another broker. But the losses increased somewhat for a few seconds on each position. Just normal behavior really. Never seen ETX widen their spreads that much though but they do widen.

You know. I could have a solution for you. At least for this because I think this could be a big part of your problem in trying to do what you are doing. Just let me check something (fixed spreads).

7

No. Sorry. Deltastock used to offer fixed spreads but no more.