RECENT FXCM Experiences?

Commercial Content Broker Support
1

There are some differences between the charts you should be aware of.

MT4’s daily candle begins at 00:00 GMT+1; whereas the Marketscope chart begins at 17:00 EST so the candles Open/Close/High/Low information will be different if you compare the two. This will affect the values being input into the indicators if it’s using the OCHL in the indicator calculation. It’s not that one is accurate and one is not, that’s just the way the MT4 charts work.

Also, on Marketscope, the close price of one candle is the open price of the next candle. On MT4 the new candle does not begin until a new tick price occurs. If there’s a 2 pip difference, between the last price on the previous candle and the next tick on the new candle, there will be a 2 pip “gap” between the close of the previous candle and open of the next. Another quirk with MT4.

Both will update with the same speed.

2

10,000 views and only one reply? Come on now people please anybody have any other input?

4

Yes that is unacceptable. Let me know how they take care of the problem.

5

I’m interested to know what happens too John. I just talked to an FXCM rep today, who called me, offering an account. I hope they honor your position.

I’m not sure who to trust with my money…and i want to go live soon.

6

This is nothing new at FXCM. It’s their server issue.
It’s really old news and you get the same replies
all the time. Really, nothing new here. FXCM’s
server really blows. While you won’t get ‘requotes’,
context busy and offquotes will be the norm if there
is even a slight spike in volume. And their server
seems to have way too often of a problem. Since
then, I moved over to Dukascopy.

Oh, yes… and FXCM is STP, they do not have a dealing
desk. However, they still mark up the spreads since
that is where they make their earnings. They are not
true ECN, they just do STP that’s all. If all of you are
serious, you need a serious broker such as Dukascopy.
Or at the very least… a true ECN that only takes
modest commissions.

8

I’m on a demo account right now and their execution is pretty good. The only problem is the connection. Sometimes I would get disconnected with their servers and my trade does not go through. I hope this doesn’t happen with a LIVE account.

9

Sorry to disappoint you but it happens quite often
in their live server as well. Context busy occurs
way too often. I originally thought that the
problem was with ‘market execution’ model
but clearly that is not the case. Currently I
am using Jforex bridge to MT4 at Dukascopy.
It works fairly well. This will have to do until
Dukascopy goes live with MT4 and ends their
current MT4 beta testing.

10

Still have not heard back from them Johnboy? Also, are you using a standard account in which you were able to call FXCM, or are you on micro in which you would have to have them handle the problem via email?

11

Received this email from FXCM UK, regarding changes — good ones — to their Micro Account. I’m pretty sure that these changes apply to FXCM US, as well.

Regarding the topic of this thread, I’ve been with FXCM for several years, and with FXCM UK since last summer. I continue to be satisfied with this broker. I simply have not had any of the problems mentioned on this thread.

As for the complaints and allegations planted on the internet about this broker, or any other broker for that matter, I disregard those comments as the rants of disgruntled customers.

Finally, I think there are compelling reasons for any U.S. trader to consider moving your U.S. account to a USD-denominated account in London. The current flap over leverage restrictions here in the U.S. does not affect U.K. accounts. And customer protections in the U.K. are better than here in the U.S.

563×1080

12

FXCM’s server sucking is no “allegation”. It is a
sad random fact. It acts up quite often. You
will be frustrated to no end and you will be filling
out account settlement forms every month or so.
Server just plain sucks. And if you have traded
with FXCM for a while, you’ll see that they
have way too many server issues. I am not
attacking their business, just their crappy
unreliable server.

13

Haven’t had any problems here with Fx Solutions platform, knock on wood.

15

I use FXCM (Micro account) and have not had a single problem with the connection but I have only been using them for a short while (under 2 months).

I had a demo account which I took live last week.

Make sure you watch the spreads on a live account, they seem to have a tendency to jump about a bit more than in a demo account. They are still better spreads than a lot of other brokers I’ve seen with Micro accounts.

16

I’ve been using FXCM for awhile now and I have no problem with their server… To me its the best broker. One problem I have with them though is that they stop allowing the traders to set the rate at which our trailing stop moves. We use to have the option to set the rate at which our trailing stop moves but now they preset it at 0.1 pips, I think this is a backward step. Allowing us the flexibility to set the trailing stop rate must be better than them presetting it…

17

FXCM sucks. That’s the honest truth.
Now, I don’t know what you are talking
about here with this .1 preset comment.
Are you talking about minimum lot sizing
or trailing stop? FXCM is a Market Execution
via STP. The limitation is set by MT4, not
by FXCM. And the trailing stop can be
set to be less than even 1 pip if you are
running an EA to do so but even using
MT4, you can set it to 1.5 PIPs. And on
a chance that you were referring to minimum
lot size, .01 is available only for those with
equity of $10,000+ and you have to request
it via chat support or via written email.
.1 sizing is default for everyone with
under $10,000 equity. FXCM server and
their execution lacking is legendary. But
you only notice how sad it is if you do a lot
of trades. If you do one trade and sit on
it floating for 2-3 days, you won’t notice
how badly FXCM sucks.

18

I’m talking about the Trailing Stop. FXCM have preset the rate at which the trailing stop moves @ 0.1 pips. I want to be able to set the rate at which the trailing stop moves fro example, 25 pips, therefore if my trade move 25 pips positive then my trailing stop will automatically adjust up by 25 pips. If my trade moves 20 pips positive (less than 25 pips) then the trailing stop doesn’t move, it will only move after the trade moves 25 pips positive or more… Which broker do you like?? Which broker do you think is the best??

19

I assume you mean 25 PIPs/25 points right?
Then go to custom setting to set the trailing stop to 25 pips. Go to
"custom" under trailing stop setting and input 250. Preset of 15 is not
15 pips, it is actually 1.5 pips. So 25 PIPs should be input as 250. Demo
it first to make sure trailing stop works as you want.

I am using Dukascopy because no other broker can beat their execution.

20

Thanks, I’m going to look at that broker’s platform… What do you think about OandA?

21

I am on Dukascopy now. There is now no going back to any
other firm for me. Oanda is OK I suppose but everywhere
else, I have been with total of 7 brokers so far, and they
all have way too many “server” issues. It will kill you if
you depend on making a ton of trades…scalpers especially.
Offquotes and context busy will literally kill you. I get none
of it from Dukascopy.

22

I’m happy with FXCM (uk) been trading a live account with them for about 2 years now, I like the spreads, and the platform (not the charts but i just Use other MT4 charts from demo accounts so works well), nothings broken down on me.

FXCM is not recomended for any scalpers or news traders though… but its all in there terms and conditions anyways, and most of the people complaining are the ones that scalp and news trade. I don’t do either so there a great broker for me.

23

I have never traded with FXCM so I cannot comment on platform issues, however, that being said here is my experience with their sales dept. We were setting up our trading thingy so we were looking for a broker.

Me, hello I am interested in a demo on your CurreneX Platform, we will be pushing X lots every month and I would also like to see your liquidity and if I can get 2nd tier rates.

Them, OK here is your demo access, as far as your rates are concerned we would need to see you trading size in real time, and then we can determine what if any discounts would apply.

Me, I will try the demo thanks. First thing I noticed that there was a 3 pip fixed spread. So back to sales.

Me, hello sales, how is it that your Cx platform shows a 3 pip fixed spread

Them, well that is the market

Me, well how is it that (insert any of the BIG three that offer Cx) shows choice, in other words no fixed spread?

Them, Well I don’t know, the real market is 3 Pips wide and it is not our fault if someone is creating an “artificial” market.

Me, OK, well thanks and goooooodbyyyyy

Now this was a while back, and I know that they have restructured their spreads etc, but come on, “artificial” market give me a break. Also everyone else did quote me their rates.

So buyer beware

The Ever Cautious VIPER