Is this a good platform to use for a newbie?
I have no idea what to do in there.
Where do I start with my demo account?
Hello, BabyPips User,
To get started, open the FXCM Trading Station, click on [B]Help[/B], then click on [B]User Guide[/B]. When the page opens, click on the
[B].pdf icon[/B] in the upper right-hand corner, and download the 42-page user guide, and read it. (Save it for future reference.)
Then try all the tabs and buttons to see what they do. Learn how to move the various windows around to suit yourself. If you make a total mess of the Trading Station layout, or lose one of the windows completely, click on [B]View[/B], then click [B]Default Layout[/B], and you’ll be back to square-one.
This should keep you busy for the rest of the evening.
Write back, if you have problems.
Clint
Now uninstall it and try a different broker as in IBFX or Oanda…
FXCM is one of the worst
I have to disagree on this one. Ive been using FXCM for close to two years now, I’ve hardly got any problems with them whatsoever, sure they got some issues with theire charting software but theire order execution is very good, spreads among the best etc.
Largest problem is that theire tradingstation/software tend to become unresponsive if you keep it open for several hours. It takes some getting used to navigating between the different charts if you trade more than one pair (theire previous version was far better…), but overall the platform is easy to use and far more userfriendly than MT4.
Sure MT4 can be far more modified, looks cooler if you want to impress your non-trading friends (…) but thats a choice of taste. I dont need to confuse myself with crap load of indicators and whatnots to be successfull, so I find the FXCM platform more than adequate for my style of trading.
Then again, if your one of those who cant get by with having several indicators and a dozen more customized/self made indicators, then MT4 would be a better platform for you. Hence FXCM might not be the best choice for you (they got MT4 but only if you deposit a certain amount of money with them).
But hey, your seem pretty new to all of this. So my best advice is simple, play around with different brokers, try different software, practise (alot…) on demo accounts and go with the one you feel the most comfortable with.
But once you start playing with real money, you better be confident in your software and with your broker.
Best of luck!
I have to disagree on this one. Ive been using FXCM for close to two years now, I’ve hardly got any problems with them whatsoever, sure they got some issues with theire charting software but theire order execution is very good, spreads among the best etc.
The main issue with FXCM is how they manipulate the spread, it can be horrendous like 20 or 30 pips, i’ve seen it jump 40+ on some pairs. And then they have “off-hours” spread jump due (supposed - bunch of crock, just one more way to rip you off) low market liquidity from 6 pips to 18 pips and thats daily on the GJ.
But try a few and see what your comfortable with. You’ll find alot of people used FXCM first, and then go onto to use another