I opened demo account (FXCM) with start balance 2.000. Cost of pip is for most curency 0.10. Margin is 20$-50$. Example: USD/CHF pip cost 0,10 and margin is 50$. I m seriously thinking to open live account at FXCM with starting capital 500€. What kind of account shoul i open???
LP Daniel (Slovenia)
Be aware that (in spite of their being [I]continually[/I] promoted in this forum, and advertising here extensively), [B][U]no[/U][/B] brokerage has such a long and persistent history of adverse regulatory rulings, and repeated fines in the millions of dollars [I]arising directly over issues related to the way they treat their customers[/I], as FXCM does.
I strongly suggest you should do a lot of “due diligence” before selecting a broker to open a real money account.
These links may help you, for a start …
FXCM Fined By The French AMF | Forex Scam Alerts[/B]
I’m amazed, given the reality, by those traders who say “Well, I’ve been with FXCM for years and never had a single complaint”, and I can only assume that these people simply don’t know the difference between anecdotal experience and [U]objective, proven, hard fact involving large numbers of victims[/U]. Their “logic” somehow reminds me of the guy who jumps off the top of the Empire State Building and when asked, a few feet from the ground, how it’s going, says “So far, so good”. :51:
I find FXCM on babypips so i thought its OK. Can someone pls tell me what broker to chose. Why is FXCM so good represented on babypips. Thx for advise mate
Lp Daniel
Hi dani1983 I don’t mean to jump your post but rather thought any feedback could benefit us both.
@ Lexys I was considering opening a real ac with fxcm until I have read bad reviews on the net. I like their platform very much compared to both mt4 and ctrader and was wondering if you had any experience with interactive traders platform.
Thank you both
Alas, no - this doesn’t follow at all! :58:
Being “represented on BabyPips” [U]can[/U] in some cases be an indication that a brokerage is specifically trying to attract inexperienced, newbie, gullible traders, and that [U]can[/U] in some cases be a very bad sign. 
You need to start by deciding whether you want a genuine broker (who acts on your behalf in the interbank market, to which you don’t have access yourself, without themselves being involved in the outcome of your trades, and prefers you to win), or a counterparty market-maker (who trades against you, holding the other side of your positions, as well as your deposited funds, while having a potential incentive for you to lose).
The catch is that you need a significant deposit, to use a genuine broker.
If you can afford a real one, Interactive Brokers is excellent but perhaps not for the totally inexperienced - their customer service doesn’t do a lot of hand-holding. AMP is also good.
If you need a counterparty one (smaller deposits), in my opinion it’s hard to do much better than Oanda (I traded there for a long time with no problems, and I did a [U]lot[/U] of research first. They’re honest.)
Depending on where you live, go for one that’s well-regulated (FCA-regulated is good. Cyprus is bad, [I]very[/I] bad - “offshore” is generally bad: it means they wanted minimal regulation and that’s a really bad sign), and one that has enforced segregation of customer deposits and their own management/operational funds.
Check their [I][U]regulatory record[/U][/I]: that’s [U]objective and factual and typically involves issues arising over multiple complaints from customers[/U].
It’s not an easy business at all, choosing a broker. But it’s quite important.
[B][U]Avoid[/U][/B] brokers with gimmicks like “no-deposit bonuses”: that’s a [B][U]big[/U][/B] red flag. Customers are paying for those, indirectly.
If you’re in the UK or Ireland, think seriously about whether a spread-betting broker might actually be better … and don’t listen to the people who will tell you that their spreads are wide, that they’re badly regulated or that they all “trade against you”: all this information is horribly out of date and inaccurate, but unfortunately it’s still rather widely believed in trading forums. Spread-betting has a lot of advantages (especially the fact that all profits are usually tax-free), if it’s available to you.
But if not, and if you’re talking about a smallish deposit, I would just try Oanda, myself. Their spreads are no worse than anyone else’s, and they suited me, when I was starting out.
thank you Lexys for this information. I will check Oanda. I made a lot of researching about forex but everyday came a new question. Maybe the hardest thing is to find a good broker.Before i ll open a live account i need to be 100% sure about my broker.
LOSSES CAN EXCEED YOUR DEPOSITS … How i cal lose more than i deposited???
LP Daniel
negative balance due to slippage… Maybe you can find a broker offers negative balance protection. there are many
If i set stop/loss on my trade i can not go in negative balance or i can???
Lp Daniel
Unfortunately it’s quite a complicated question, Daniel.
In theory, you shouldn’t be able to. In practice, however, it’s possible.
What the chances are that it will actually happen to you depend on two main things: the type of broker you’re using, and the circumstances of the market you’re trading. Brokers can’t always manage to execute stops at the level you’ve requested, in fast-moving markets. The reality is that some brokers try much harder than others.
There’s a way of trading with [U]guaranteed[/U] stops, as well, in which case the broker closes your position with them at the specified level [I]regardless of whether or not they were able to close their own position in the market at that price[/I], but you have to pay extra for that.
Lexys i appreciate your assistance understanding forex. Thank you for the informations you gave to me.
I opened practice account with Oanda. As you said you have some years of experience using Oanda. Did you have some kind of problems with closing trades or withdrawals??? How is with STOP LOSS with them. As i said im planing to open live account with starting capital 500€. I don`t want to end with negative 500 balance if i set my LIMIT correctly.
Lp Daniel
<[email protected]>
Hi Daniel,
FXCM is one of the only forex brokers in the world regulated on three continents. From your description, it sounds like you set up a demo of an FXCM US Mini account. Since you live in Slovenia, you may instead prefer a demo of an FXCM UK Mini account.
The advantage for you with an FXCM UK account is, in addition to forex (EUR and USD), it allow you to trade contracts for difference (CFDs) for stock indices (S&P 500 and DAX), energy products (oil and gas), metals (gold and silver) and international shares (AAPL and GOOG).
FXCM lets traders choose between three different account types: Active Trader (25k minimum), Standard (2k minimum) and Mini ($50 minimum). While all three account types let you trade micro lots (10 cents per pip), they differ in pricing and execution models.
Please let me know if you have further questions about these options.
Welcome to BabyPips! 
Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. The products may not be suitable for all investors. Please ensure that you fully understand the risks involved. FXCM UK and FXCM Australia offer clients up to $50,000 in negative balance protection* on forex trades. For full details, please review the appropriate master trading agreement when opening an account.
Hi Lexys,
It’s unfortunate you seem to have already made up your mind about FXCM (despite never having traded with us), but for the benefit of others reading this thread, I will respond to your comments.
Before making such comparisons, it’s important to understand FXCM’s age and size relative to other forex brokerages. When FXCM was founded in 1999, we were one of the pioneers in what is still a relatively young and quickly evolving industry. As an industry leader regulated in multiple countries (while some brokerages are regulated in only one country or none at all), FXCM is subject to a greater level of scrutiny than smaller and less-regulated forex firms.
The links you provided are examples of this. Few forex brokers are regulated in both the US and France like FXCM. We believe this additional accountability benefits our clients. That’s not to excuse previous regulatory actions, but rather to emphasize how we actively work with our regulators to resolve issues and ensure the best trading environment possible for our clients.
That’s why so many traders continue to choose FXCM over other forex brokers*, because we strive to provide you with quality trade execution and customer support including here on this forum.
* The stats above only show the amount of client deposits with our US entity. FXCM also has trading entities regulated in Europe and Australia. As of May 2016, our global customer equity totaled $633.2 million worldwide.
Hi Daboss,
It’s worth keeping in mind that the vast majority of FXCM clients are pleased with our service and execution. Otherwise, we wouldn’t continue to grow as we have executing 10% more trading volume in 2015 than we did in 2014.
Also worth considering is the fact that we’ve been in business since 1999 making us one of the oldest firms in what is still a relatively young industry. If less than 1% of our clients past or present express a grievance about something, it may seem like a large number of traders compared to other brokers, because we are bigger. However, it’s not as large relatively speaking when you consider the percentages.
That’s not to say that we don’t take such client feedback seriously. My primary goal on forums such as BabyPips is to answer questions about FXCM and address any potential concerns. However, if you see my other posts, you will find that I don’t simply promote our firm. I actively contribute to discussions to provide service and education to traders.
This also highlights how FXCM dedicates a greater amount of resources to educating new traders than many other brokers. That means more novice traders choose to begin their forex journey with us. The flip side of this is that when they misunderstand something about how the market works or how to use the software, they sometimes blame us.
I’m glad you’re a fan of Trading Station. We’re very proud of it! Please feel free to ask me any questions you have about FXCM’s platforms.
Since you live in the UK, you will be particularly interested to know FXCM offers spread betting accounts. Trading a spread betting account is the same as forex trading, but because of the UK spread betting tax code, UK and Ireland traders can enjoy tax-free trading with this account type.
Hi Daniel,
I never had a problem with them, myself. No problem closing trades or with withdrawals. They’re honest.
I think that unless you deliberately trade around the time of scheduled news announcements, you should never have a stop-loss problem there. (Trading in very fast-moving markets, at news announcement times, can be a problem anywhere, for the same reasons).
(Well done on ignoring the lamentably persistent FXCM-spam, here! 
)
Hi Lexys
Do you still trading in forex or you stop. I made two mistakes yestrday when i opened trade: 1st: i did not start using trading diary so i m not exatly sure why i opened trade :):i m said very said.
I am short on EUR/JPN- P/L +130 pips. Is it posible to explain me why i guessed and why actualy happened that EUR went down.
LP Daniel
HI
Im from Slovenia and im planing to open account for 500€. Im new so i ll probably trade max 2000units. That is 1 pip around 0,20 and margin 50€-100€. I will trade only curency´s. And STOP/LOSS will be always set (50-100 pips).
Can you give me an example how can losses exceed my deposit??*
LP Daniel
If i opened demo account on yor site and it is clear that i am from Slovenija.How is it posible that i get US account to use. Is it posible that the same thing will happen when i decide to open LIVE account.
LP Daniel
HI to all
I opened short EUR/JPN trade on demo FXCM. The trend went against me and i was P/L -60pips ca. -12€. I opened that trade and login after 7 hours and i was P/L -10 pips ca. -2€. But on my daily P/L i was over -40€ loss. I check on report and find that is floating P/L. What is that???
LP Daniel
Hi Daniel - I’m still a full-time trader, but at the end of 2015 I actually switched from trading spot forex to trading futures, simply because I wanted to use constant-volume bars, which aren’t available with spot forex. I was (eventually) convinced by institutional and ex-institutional trader friends that the way I traded would prove more profitable with the same risk factors, if I switched to futures, and fortunately this turned out to be right.
So at the moment I [I]don’t[/I] actually trade spot forex (but I do trade almost exactly the same way as when I did, for all those years - just the way my charts are constructed has changed).
This question I can’t help you with, Daniel - sorry. Not without knowing all about your trading methods. :8:
