Fxcm slip you heavily on news. They hold your order for 2mins and only fill you if its in their favour.
that doesnt seem like a fair or ethical business practice. i dont see how they could get away with that, or even how they could do that.
i am planning to set up a live account with FXCM tomorrow. if i feel like they are messing with me, i can move to somewhere else.
FXCM demo account spread is very small but the live account spread is about 1.2 pips wider. To find out the real spread compare the open bid and the open ask.
i thought the demo was 2 pips. the spread is wider on the live one? thats not good.
perhaps thats only true for micro accounts?
Hi PipThirsty,
Slippage is possible on FXCM’s accounts since we use NDD execution, and it is more likely that slippage will occur during a news event. Reason being because the market is more volatile due to less liquidity. FXCM is not making a market on No Dealing Desk execution therefore cannot guarantee the execution of a trade.
However, you can select between At Best and Market Range when opening and closing positions to control the slippage you are willing to accept. The At Best order type will ensure your order executes every time, but it will go through at the best price available. Meaning slippage is possible. The Market Range option lets you enter a pip amount for the range of slippage you are willing to accept. If you select 0, it means you are only willing to accept the price you click on. If the price you clicked on is no longer available, the order is rejected. Increase the range to 2 and the order will fill at the best price within +/- 2 pips of what you click on. If the best available price is 3 pips away, the order is rejected. And so forth…
With NDD execution, additional slippage does not factor into an additional gain in revenue for FXCM. Here’s a post I made that goes over how No Dealing Desk execution works, step by step: 301 Moved Permanently
-Jason
Hi John,
The demo uses the same price feed as the live account. The spreads displayed on the demo will be the same as displayed on the live account.
-Jason
Hi mrmoneybags,
I just saw your new thread today and responded. Apologies for the delay! Here’s the response…301 Moved Permanently
And also to provide it here in this thread:
The demo shows the same price feed as the live accounts, and the platform functionality is the same. The only thing you would find different is slippage. The demo is not able to replicate slippage on stop loss orders or market orders because the demo orders are not executed against actual liquidity. Please keep this in mind.
-Jason
Ok, Right now I’m looking at my Live account and my Demo account and they are both saying 2.5 pips spread for EUR/USD. However there are several times when the Domo spread differs from the live spread…
thanks alot for all your replies guys. today is the big day, im going to give fxcm 5k.
one of you dudes sounds really bitter about fxcm. i hope it goes well for me.
Take a look at the charts and write down the price you see, turn off your computer and then wait a few hours and check to see if the prices are the same…
i made nearly 600 bucks today. still one trade open, waiting for the price to come up a bit before i sell it. i might loose a bit on that one. otherwise a great day so far.
the prices seem to behave in the same way as they did with the demo. i see no difference except now its real money.
Hey Jason, I was wondering if FXCM allows clients from South East Asia such as Guam, Philippines or Indonesia. The reason I am asking this is that some forex companies do not allow clients from these countries, which I belong to. Thanks.
Hi Slither,
Yes we do. All three locations are listed in the Country of Residence list when applying for the account.
The only thing of note is that clients from Indonesia do not have the option to fund by credit card whereas clients in Guam and the Philippines do. Clients from Indonesia need to fund by bank wire.
-Jason
Mrmoneybags,
How is the live account going with fxcm? I have been talking to them and they talk a good game, but there is a lot of negativity on the net about execution time and I do not want to deal with that. Please let me know.
Order execution is as fast as the demo for me, perhaps those “complainers” have a slow or lagged Internet connection?
You must have a full signal to your network and nobody downloading to guarantee faster execution time.
Alpari’s shareholders have no intention to sell Alpari prior to the planned IPO in 2014. There are no ongoing discussions on this subject despite the huge interest from private equity funds and banks. Alpari is one of the best capitalised FX brokers in the world. Alpari (UK) and Alpari (US) alone have capital approaching $85m,and there is no need for us to be looking for additional liquidity.
Alpari Group is very profitable, and has been growing exponentially from starting as a small FX broker 12 years ago to becoming one of the largest FX brokers in the world with monthly turnover in excess of $145 bn . More than 330,000 clients have opened live accounts with Alpari. We now have over 30 offices in 13 different countries and are servicing more than 150 countries through the London Headquarters of our Global Operations, with further expansion planned.
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