Zulutrade New Account With FXCM

Trading Systems Expert Advisors and Automated Trading
1

Good Day,

I am trying to open up a Zulutrade account through FXCM Australia and have a few questions:

  1. For the LOD form what is the management and performance fee %? On the form http://docs.fxcorporate.com/lod_au_zulu_en.pdf it is set to 0%. Is this fine? What time frame must I select?

  2. What is the correct Zulutrade link to FXCM AU that allows hedging?

3)What is the best way to open up a Zulutrade account as I already have a FXCM account so going direct through Zulutrade seems best as I don;t want to open up another account?

I have tried contacting FXCM through their website, email, and support and no reply :confused: I am hoping someone here will be kind enough to assist :slight_smile:

Thanks for all the help

2

Hey there )If you already have an account with FXCM then simply visit zulutrade site and connect your account .
Also FXCM accounts have a big slippage on zulutrade which reduces your future profit potential.
Hence better open an account on AAAFX.

3

Hi Qw3rty,

There are no management or performance fees on ZuluTrade accounts. That is why those numbers are set to zero and you don’t have to select a time frame.

FXCM Australia accounts have hedging enabled by default. However, you can disable hedging if you prefer via the MyFXCM.com once you receive your live account login details.

You can put your existing account number on this form to have it set up for ZuluTrade: http://docs.fxcorporate.com/lod_au_zulu_en.pdf

Our live support team is available 24 hours a day. For immediate assistance you can call them toll-free in Australia at 1800 109 751. If you live outside Australia, you can still call them using one of our international toll-free numbers.

4

If the current price in the market is worse than the original price you specified in your order, then any broker has only 3 options regarding how to handle your order:

[B]Option 1:[/B] Fill your order at the original price you specified and take a loss on the difference. (A broker will not stay in business long if they do this, which can put your whole account at risk if you have funds deposited with them.)

[B]Option 2:[/B] Re-quote your order which means that instead of filling your order they offer you a new worse price that will allow them to make money on the transaction. (This process is time consuming for you and can cause you to miss opportunities especially in fast moving markets when re-quotes are most likely to occur.)

[B]Option 3:[/B] Fill your order at the current price in the market which results in slippage.

There are no re-quotes at FXCM. That means slippage can occur. However, it’s worth noting that with FXCM, slippage can be either positive or negative. Positive slippage is when the current price in the market is actually better than the price you specified.

For example, suppose you have a limit order (take profit order) to sell EUR/USD at 1.3317. If the market gaps through your sell price to 1.3320 then your limit order will be filled at 1.3320 meaning that you benefit from being able to sell at the higher price. That’s 3 pips of positive slippage in your favor.

In just a 6 month period, FXCM clients benefited from over $15 million in positive slippage. These stats show that positive slippage occurs just as frequently as negative slippage on our platform:

73% of all orders had NO SLIPPAGE.
15% of all orders received positive slippage.
12% of all orders received negative slippage.
Over 60% of all limit and limit entry orders received positive slippage.
53.32% of all stop and stop entry orders received negative slippage.

Furthermore, from a safety of funds standpoint, it’s important to keep in mind that some smaller brokers are not regulated in major financial centers. That means there is little to no government oversight on your funds deposited with them.

FXCM is regulated on four continents in major financial centers around the world. In addition to Australia, we are regulated in the UK, the US, Japan and Hong Kong. This is why traders have entrusted FXCM with $1.245 billion in client funds.

5

Thank you very much for the info, it is greatly appreciated. This has helped me immensely.

6

My pleasure, Qw3rty :slight_smile:

If you ever have questions about your FXCM account, please feel free to ask me in the Broker Aid Station.

7

Option 3: Fill your order at the current price in the market which results in slippage.

I’ll try that opinion. Just to see on how it will work for me though.

8

Just remember that positive slippage is more likely to occur with limit (take profit) orders, while negative slippage is more likely to occur with stop orders. That’s due to the momentum of price movement when those particular order types are triggered.

Also, it’s worth noting that for market orders, Trading Station has a feature called Market Range that allows you to specify how much negative slippage you’re willing to accept on an order if any. For example, if you set your Market Range to 3 then you market order will only be filled if the best available price in the market is within 3 pips of the price you clicked on. Otherwise, your market order gets cancelled. Note that this feature only limits you’re negative slippage. You’re still able to benefit from any positive slippage even if it’s greater than 3 pips. The video below has more info on how you can use the Market Range feature.