# FXCM sets up shop locally



## tayser

Got this email last night.

Dear Client:

This is an important e-mail notifying you of changes that apply to FXCM’s Australian clients. Our goal is to provide you with local support and local regulatory protection.

We are happy to announce the launch of FXCM Australia Limited which continues to provide live 24-7 client support, with the additional benefits associated with local presence. Our office is situated in the heart of Sydney's central business district:

FXCM Australia Limited
Level 14, 309 Kent Street
Sydney NSW 2000
fxcmaustralia@fxcm.com

FXCM Australia Limited holds an Australian Financial Services License (AFSL# 309763) issued by the Australian Securities and Investment Commission (ASIC) (ARBN# 121 934 432).*

All clients residing in Australia must have an account under FXCM Australia Limited.

What Will Happen to My Account?

In order to provide you with local service and local regulatory protection, your account will be transferred from FXCM LLC (NFA# 0308179) to FXCM Australia Limited (ASIC, AFSL# 309763). The account transition is scheduled to occur at the end of Saturday, April 4, 2009.

Please read, understand, and agree to the following:

    * Terms of Business
    * Product Disclosure Statement
    * Financial Services Guide

IMPORTANT: Your trading account and log-in details will remain unchanged, and your open trades will not be affected by the transition to FXCM Australia.

The transfer of your account to FXCM Australia is not required. Unfortunately, however, if you choose not to transfer, we must close your account. Should this be the case, please contact our Sydney office at 1800 109 751 (Freecall) or e-mail fxcmaustralia@fxcm.com and include your account number.

Please note that failure to respond by April 1, 2009, will result in the moving of your account to FXCM Australia.

How Will FXCM Australia Benefit Me?

    * Your account will be regulated and protected under the supervision of the Australian Securities and Investments Commission.
    * Your account funds will be segregated, in accordance with Australian client money rules.
    * You can deposit funds in Australian or New Zealand dollars. 
    * You can consult with FXCM specialists on-site, and attend live seminars. 

As client accounts are transferred to FXCM Australia, we will keep you informed of new developments and services to aid your trading experience.

In the meantime, if you have any questions about your account, or the new services, please do not hesitate to contact us. As always, client support is available 24 hours a day, 7 days a week. 

We look forward to serving you.

Best regards,

FXCM Australia Limited
Level 14, 309 Kent Street
Sydney NSW 2000, Australia
Australia Freecall: 1800 109 751
New Zealand Freecall: 0800 450 331
fxcmaustralia@fxcm.com
www.fxcm.com.au


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## >Apocalypto<

tayser said:


> Got this email last night.
> 
> Dear Client:
> 
> This is an important e-mail notifying you of changes that apply to FXCM’s Australian clients. Our goal is to provide you with local support and local regulatory protection.
> 
> We are happy to announce the launch of FXCM Australia Limited which continues to provide live 24-7 client support, with the additional benefits associated with local presence. Our office is situated in the heart of Sydney's central business district:
> 
> FXCM Australia Limited
> Level 14, 309 Kent Street
> Sydney NSW 2000
> fxcmaustralia@fxcm.com
> 
> FXCM Australia Limited holds an Australian Financial Services License (AFSL# 309763) issued by the Australian Securities and Investment Commission (ASIC) (ARBN# 121 934 432).*
> 
> All clients residing in Australia must have an account under FXCM Australia Limited.
> 
> What Will Happen to My Account?
> 
> In order to provide you with local service and local regulatory protection, your account will be transferred from FXCM LLC (NFA# 0308179) to FXCM Australia Limited (ASIC, AFSL# 309763). The account transition is scheduled to occur at the end of Saturday, April 4, 2009.
> 
> Please read, understand, and agree to the following:
> 
> * Terms of Business
> * Product Disclosure Statement
> * Financial Services Guide
> 
> IMPORTANT: Your trading account and log-in details will remain unchanged, and your open trades will not be affected by the transition to FXCM Australia.
> 
> The transfer of your account to FXCM Australia is not required. Unfortunately, however, if you choose not to transfer, we must close your account. Should this be the case, please contact our Sydney office at 1800 109 751 (Freecall) or e-mail fxcmaustralia@fxcm.com and include your account number.
> 
> Please note that failure to respond by April 1, 2009, will result in the moving of your account to FXCM Australia.
> 
> How Will FXCM Australia Benefit Me?
> 
> * Your account will be regulated and protected under the supervision of the Australian Securities and Investments Commission.
> * Your account funds will be segregated, in accordance with Australian client money rules.
> * You can deposit funds in Australian or New Zealand dollars.
> * You can consult with FXCM specialists on-site, and attend live seminars.
> 
> As client accounts are transferred to FXCM Australia, we will keep you informed of new developments and services to aid your trading experience.
> 
> In the meantime, if you have any questions about your account, or the new services, please do not hesitate to contact us. As always, client support is available 24 hours a day, 7 days a week.
> 
> We look forward to serving you.
> 
> Best regards,
> 
> FXCM Australia Limited
> Level 14, 309 Kent Street
> Sydney NSW 2000, Australia
> Australia Freecall: 1800 109 751
> New Zealand Freecall: 0800 450 331
> fxcmaustralia@fxcm.com
> www.fxcm.com.au





no MT4 for us aussies yet and they will offer CFD's but no release date as of yet for em.

I saw the platform they have on offer looks great in the midnight color! 

what is a a pain in the ass any aussie with a US account has been moved to aust office. Hence u lose MT4 if u had it.

see how they go...


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## derty

Just had a quick chat to someone on their free call number. Sounds good. They are happy with and actually encourage scalpers as there is no dealing desk so they are in it for the spread they collect. They do not offer micro lots and start at mini lots. 

I'm still doing screen time, been at it for about 4 weeks now and will spend another 2 or 3 months before I go live. FXCM are looking like a good choice at the moment. 

I asked him about MT4 and he said that it will be available in 3 to 4 weeks.


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## Stormin_Norman

derty said:


> Just had a quick chat to someone on their free call number. Sounds good. They are happy with and actually encourage scalpers as there is no dealing desk so they are in it for the spread they collect. They do not offer micro lots and start at mini lots.
> 
> I'm still doing screen time, been at it for about 4 weeks now and will spend another 2 or 3 months before I go live. FXCM are looking like a good choice at the moment.
> 
> *I asked him about MT4 and he said that it will be available in 3 to 4 weeks.*




fantastic!!

they told me that mt4 wasnt on their plans in the short term.

obviously there was enough demand for it!

stoked!!


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## Wysiwyg

derty said:


> I asked him about MT4 and he said that it will be available in 3 to 4 weeks.




Just been perusing their site and see nothing about Metatrader 4. 

I think they could simplify the withdrawal process which is via application form. I prefer electronic as per online banking.


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## Geoff22

I am supposed to be getting emailed when they offer MT4. I will let you guys know ASAP as I am looking forward to using it.


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## Wysiwyg

Another alternative is now available.



> FXCMAustralia   On: 12 May, 2009 1:48 PM
> 
> FXCM Australia now offers MetaTrader 4 with FXCM's No Dealing Desk execution.
> 
> - Accounts available AUD and USD
> - $2000 account opening minimum
> - Click below to open your account


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## FXCM PR

*Re: FXCM Australia now with MT4 Live and Demo Accounts*

FXCM Now Offers MT4 Live and Demo Accounts 

FXCM Australia announced that the FXCM MetaTrader4 demo, powered by Boston Technologies, is now available. FXCM has joined together with Boston Technologies to enhance FXCM’s MT4 offering. 

Why Trade on MetaTrader 4 with FXCM?
•	MetaTrader 4 is integrated with FXCM's No Dealing Desk execution that means no re-quotes
•	Hedging capabilities through MT4
•	Trade directly from the charts
•	Spreads as low as 1 pip EUR/USD
•	Accepting all EAs, including scalping EAs
•	Free Trading Signals from DailyFX Plus
•	24/7 client support

Multiple Currency Denominations Accepted: Account Opening Minimum: A deposit of US$2,000, £2,000, â‚¬2,000, A$2,000, NZ$2,000, or  ¥200,000 is required.

“We have received tremendous demand for our No Dealing Desk MT4 platform. Through our partnership with Boston Technologies, we are able to leverage their technical expertise and widen our MT4 offering. Offering demos and expanding the selection of base currencies, as well as offering programming assistance, is just the start. Very soon we hope to be offering free, lifetime VPS hosting as well,” said Marc Prosser, chief marketing officer at FXCM. 

If you are an existing account holder you can fill out the transfer form. Please contact Client Services.

FXCM Holdings LLC Facts 
•	FXCM Holdings LLC has over $100 Million in capital
•	More than 125,000 live accounts are traded on FXCM trading platforms
•	As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platforms
•	As of January 2009, an excess of $600 million in customer funds trading on platforms offered by FXCM 

Only spot FX can be traded on this MT4 platform with FXCM

Trading FX, CFDs and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors.

For more information, or if you have additional questions please feel free to e-mail me at jsales@fxcm.com


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## CFD

"The free practice account is live for 30 days, then automatically expires."

Is this necessary? Does expire mean the price feed ends or that you can no longer access your past work?

Any plans to have a lesser pip value than $10-?


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## white_goodman

CFD said:


> "The free practice account is live for 30 days, then automatically expires."
> 
> Is this necessary? Does expire mean the price feed ends or that you can no longer access your past work?
> 
> Any plans to have a lesser pip value than $10-?




just means u have to open an account within mt4 again... takes 10 seconds jsut means u have to reset results


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## Wysiwyg

CFD said:


> "The free practice account is live for 30 days, then automatically expires."
> 
> Is this necessary? Does expire mean the price feed ends or that you can no longer access your past work?
> 
> Any plans to have a lesser pip value than $10-?




What more "practice" do you need after one month? Trading systems, methods, whatever,  are over-rated!


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## bunyip

So you fellers who trade with FXCM are basically happy with them?
Any real complaints?


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## macca

Hi,

Could someone with an FXCM version of MT4 tell me when their day starts please, Oz time will do, I can work it out from there.

I am using 4 hr charts for some research and it does make a difference if it is GMT or USA closing time for the day.

thanks


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## dasmith1973

bunyip said:


> So you fellers who trade with FXCM are basically happy with them?
> Any real complaints?




Can give a little response to this, I have running for just over 1 month to compare this broker with my other accounts.  I run my own ea's which are all short term or scalping style, & unfortunately I would say this account is running poorly in comparison to others for this style of trading (may not matter for larger swing / position trades obviously).  

For an example, here are the MT4 stats (hxxp://entraderfxcm.mt4live.com/) , I am finally back to breakeven again, now imagine another equity curve going mostly up & making 25 to 50 % in same period! That's the difference!  I guess order execution is always a concern with short term systems & hence why I test multiple brokers.

While they may say there are 'no requotes' the market slippage can be quote bad for short term trading.  I have other accounts making good money at the same time this one loses.

My alternatives I see are to modify my order method, perhaps try limit orders since the stoploss & freeze levels seem to be zero.

Anyway, I shall keep testing though, the 1st 10 days were really bad then seems to start improving, if over 6 months I can make some money I will probably keep an account running.

Not an advice, just highlighting the issues, I suggest test it out & make your own assessment.

Chrs, Dave


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## macca

Hi Dave,

could you tell me what time of the day here in OZ when FXCM start a new daily chart please.

thanks


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## CFD

It's 9:00 am on mine.

There is a nice mt4 indi called P4L Clock, which if you can find, shows your local time, your broker time and pretty much any body elses that you may wish to display.

GoTrader uses 8:00 am which makes more sense to me.


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## CFD

So was the FXCM PR post just advertising? It was good of them to drop by, but they are not answering any questions about the use of their products.


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## CFD

Just trying to upload an indi.


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## dasmith1973

macca said:


> Hi Dave,
> 
> could you tell me what time of the day here in OZ when FXCM start a new daily chart please.
> 
> thanks




Macca, I just tried out that clock indicator, its says now at 2:26 PM the "daily bar left" is 18:36 so I assume start of day candle is (hmm..counting fingers..) 9 am.

CFD...suggest contact fxcm support for actual problems.  

Interesting problem happened this morning, support contacted me by email to say they were closing & reversing a losing trade as it wasn't initiated by MT4.  I have no idea how that happened as I didn't place the trade & the rep didn't know the technical reasons but at least they proactive & sorted it out.


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## macca

Thanks for that info, it really is surprising that there is no universal "day" in FX.

I know some feeds are GMT, others are GMT +2 or even +3.

USA feeds insist on closing there day when they rollover at 5.00 Wall St Time.

UK uses GMT which makes daily and 4 hourly different bars on different feeds.

I will see how it effects me.


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## amaro

bunyip said:


> So you fellers who trade with FXCM are basically happy with them?
> Any real complaints?





Hi, the people at Fxc,m are nice, but the company is big and they hire not very professional stuff as they could not answer simple questions, also somehow I was connected to US customer service in the beginning and it took 10 minutes to get to local customer service  
SPREADS ARE MUCH HIGHER THEN THEY ADVERTISE! BEWARE! 
other then that, nice people, just like everyone else


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## Jason Rogers

Hi amaro,

If everyone is on the phone in our Sydney office, then your call will be routed to our US offices so that you can speak with someone immediately.  If you prefer to have someone call back from Sydney, we can arrange a call back as soon as possible.  

We are also having seminars in our office if you ever want to stop by to visit.





amaro said:


> Hi, the people at Fxc,m are nice, but the company is big and they hire not very professional stuff as they could not answer simple questions, also somehow I was connected to US customer service in the beginning and it took 10 minutes to get to local customer service
> SPREADS ARE MUCH HIGHER THEN THEY ADVERTISE! BEWARE!
> other then that, nice people, just like everyone else


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## tayser

Jason: are FXCM planning to have a local version of FXCM Micro any time soon (with AUD denomination)?  Because I can't access my account through the standard account portal due to regulatory reasons... or so I've been told.


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## amaro

Jason Rogers said:


> Hi amaro,
> 
> If everyone is on the phone in our Sydney office, then your call will be routed to our US offices so that you can speak with someone immediately.  If you prefer to have someone call back from Sydney, we can arrange a call back as soon as possible.
> 
> We are also having seminars in our office if you ever want to stop by to visit.




I accept a misunderstand the answer but is is not a full answer, what about spreads???


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## Jason Rogers

amaro said:


> I accept a misunderstand the answer but is is not a full answer, what about spreads???




Hi amaro

Yes, for the second part of your question.  Just viewing our spreads right now, they're around the typical spread amounts if not below.  But keep in mind the spreads are variable.

FXCM's spreads are variable because we use No Dealing Desk execution.  No dealing desk means there are no re-quotes.  The typical spread for each currency pair is listed here http://www.forextrading.com.au/forex-spreads.jsp but they can vary throughout the day.

FXCM is not determining what the spread is.  Instead it is set by the best bid/ask price that the multiple global banks are quoting to FXCM.  On no dealing desk execution, FXCM makes money through the volume of transactions going through our platform and not by trading against clients.

During peak trading hours is when you can see the spreads at their tightest.  During off-peak hours is when you could see spreads widen out.  If you want to compare spreads, just register for a demo. It shows you the same prices that our live accounts receive.

Jason


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## Jason Rogers

Hi CFD,

To get to your question, on FXCM's MT4 platform, a volume of 0.10 would be a mini lot and the pip value would be $1.  Trading a volume of 1.00 would make the pip value $10.



CFD said:


> "The free practice account is live for 30 days, then automatically expires."
> 
> Is this necessary? Does expire mean the price feed ends or that you can no longer access your past work?
> 
> Any plans to have a lesser pip value than $10-?


----------



## tayser

AUD Micro accounts?  (see my question above)


----------



## Jason Rogers

Hi tayser,

Thanks for re-posting, I had lost track of your post accidentally 

Micro accounts are in the works, but the key to the question is will it be released "anytime soon".  I haven't heard of a time line.  A lot of plans had to be put on hold unfortunately due to development attention being focused on regulatory changes in the US.  A MyFXCM.com type website for FXCM Australia is scheduled to be created as well, but I haven't heard of a release time frame for it either.  

I'll poke around and see what I can find out for you.

Jason


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## tayser

thanks, whatever info you can provide will be very useful.


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## Jason Rogers

tayser said:


> thanks, whatever info you can provide will be very useful.




Ok, here's the information.  For a myfxcm.com related website for FXCM Australia, it's being developed right now but no set date on release. 

Also double checked on any plans to launch micro accounts for all Australia residents, and no plans in the near future.


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## CFD

Jason, thank you for monitoring this thread and your replies.

Does the 0.10 lot transact at the same price as the 1.00 lot?


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## amaro

Hello, I am glad you admitted and answered YES for the second part of the question. Where we discussed that your spreads are much higher then advertised.


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## Jason Rogers

CFD said:


> Jason, thank you for monitoring this thread and your replies.
> 
> Does the 0.10 lot transact at the same price as the 1.00 lot?




hi CFD, 

It does.  The trade is going to be submitted for the same price regardless of the amount you are requesting.

Also keep in mind since this is direct market access, the price you are executed at depends on the liquidity (or amount) available in the market at that price.  If you were submitting an order for a volume of 100.0 and there's only enough liquidity to fill 90.0 then the remaining 10 will either get slipped to the next best price or get cancelled depending on the order type you have chosen.

In the FX Trade Station you have the ability on market orders to choose either At Best or Market Range.  At Best gives execution certainly.  The order will always be filled, but at the best price available.  So there could be slippage.  With market range you have price certainty. You you can specify the range of prices you are willing to accept.  This limits slippage but there is less certainty over execution.

I hope that helps, and let me know if anything is unclear.

Jason


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## Jason Rogers

Hi amaro, 

Thank you for your post; however, I have to kindely disagree with you.  Please reference previous post https://www.aussiestockforums.com/forums/showthread.php?p=453785&posted=1#post453785

The spreads will be around the typical spread the majority of the time as advertised, but the spreads can vary.  During off-peak trading hours or periods of high volatility the spreads can increase.  And during peak trading hours, the spread can get tighter to their lowest possible.

Jason



amaro said:


> Hello, I am glad you admitted and answered YES for the second part of the question. Where we discussed that your spreads are much higher then advertised.


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## Stormin_Norman

fxcm international participates in rebate schemes. does or will fxcm-australia do the same?

do you offer improved trading conditions for larger accounts?


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## Stormin_Norman

in addition to my above questions : do you offer unfiltered data feeds?


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## Jason Rogers

Stormin_Norman said:


> fxcm international participates in rebate schemes. does or will fxcm-australia do the same?
> 
> do you offer improved trading conditions for larger accounts?
> 
> in addition to my above questions : do you offer unfiltered data feeds?





I'm going to check on the rebate availability through FXCM Australia and get back to you on it.

Our improved trading conditions program is based off of trading volume on the active trader platform.  Since FXCM is making money off of the amount of volume going through our system, we reward our high volume clients.

On the regular platform, there is a pip markup on the spread we get from the bank, and that is how we are making money.  On the active trader program, you receive spreads without a mark-up and a commission is charged instead.  The higher your monthly trading volume, the smaller the commission that can be offered.  To get more details on the active trader program, what you should do is contact the Sydney office and speak with someone directly about the commission structure.


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## amaro

Well a lot of people trade on or during the news time, and I found couple reliable brokers, who do not widen their spreads as much as FXCM, and all that recent movement of US based account to AU and now to UK... what's up with that???? It seems  fishy to me... I mean you are a big company but sometimes stability is good.


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## CFD

amaro, I don't get the point of your post. Regardless of whether you trade with fxcm or not, it's good that their rep. gives us the time of day. Also there is a very good reason for many in the USA to seek O/S accounts at this time.


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## Jason Rogers

amaro said:


> Well a lot of people trade on or during the news time, and I found couple reliable brokers, who do not widen their spreads as much as FXCM, and all that recent movement of US based account to AU and now to UK... what's up with that???? It seems  fishy to me... I mean you are a big company but sometimes stability is good.




Hi Amaro,

Some brokers may keep spreads fixed during news events, but whether you can actually trade on those spreads is another question.  That's most likely when you're going to be re-quoted by a dealer because they're not necessarily showing you the actual price they're willing to accept a trade at.  Our no dealing desk model allows traders to more accurately gauge market volatility and trading risk as FXCM prices come directly from multiple global banks and not through a proxy market like those offered by market maker firms.

The recent news about clients moving from FXCM US to FXCM UK doesn't really concern FXCM Australia, but I'll give some background on the situation so everyone knows what is happening.  

The National Futures Association (our regulator in the US) recently made two new rule changes to (1) ban hedging and (2) require FXCM to institute First In First Out (FIFO) ticket management.  FIFO means the first trade you opened (for a currency pair) has to be the first trade you close (for that same currency pair).  You can no longer choose the order in which you individually close out tickets if you have multiple tickets in the same currency pair.  These rule changes only apply to FXCM US and not FXCM Australia so it won't have any effect on FXCM Australia accounts.

Stability in trading is very important which is why we're allowing clients to move from FXCM US to FXCM UK by submitting an online opt-in form without having to submit any new documentation.  This way our FXCM US clients have the stability of being able to continue trading as they always have.  

-Jason


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## Stormin_Norman

has the underlying logic of those rule changes ever been succinctly given by the regulators?


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## Jason Rogers

Stormin_Norman said:


> has the underlying logic of those rule changes ever been succinctly given by the regulators?




hi Norman,

Yes, they were outlined in the NFA's proposed ammendment here 

To give a summary, the NFA's stance is that FIFO provides more transparency to customers, offering a more accurate picture of the P/L on multiple positions than viewing profit or loss on an individual position.  And on the matter of hedging, the NFA believes that hedging eliminates any opportunity to profit on a transaction, and it increases the customer’s financial costs (Ex: customers entering hedged positions will pay the entire spread twice, doubling the expense of entering and exiting the transaction.)

-Jason


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## Jason Rogers

Stormin_Norman said:


> fxcm international participates in rebate schemes. does or will fxcm-australia do the same?
> QUOTE]
> 
> 
> I found out about the rebate scheme, and FXCM Australia does accept referring brokers.  What you should do is get in touch with the Sydney office directly by phone to get details on how it works/getting setup.
> 
> There's a separate Friends and Family Program offered through other FXCM entities, but that one is not available through FXCM Australia yet.
> 
> Hope that helps.


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## Stormin_Norman

compare filtered with non filtered data. im not talking manipulated - but smoothed. which is the feed almost all retail brokers have for their clients.

i seem to recall someone saying fxcm can offer unfiltered data on a forum, but knowing how my memory and the truth posted in forums is....

filtered:




unfiltered:




does anyone know of any reputable brokers that offer raw data?


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## Jason Rogers

Stormin_Norman said:


> compare filtered with non filtered data. im not talking manipulated - but smoothed. which is the feed almost all retail brokers have for their clients.
> 
> i seem to recall someone saying fxcm can offer unfiltered data on a forum, but knowing how my memory and the truth posted in forums is....
> 
> 
> does anyone know of any reputable brokers that offer raw data?




hi Norman,

I checked on this with our tech team.  The data from our FIX API and the FX Trade Station II is unfiltered.  Whereas the Order2Go and Java API are filtered.

Jason


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## Jason Rogers

To update everyone, the MyFXCM website for FXCM Australia has now been launched so you can perform administrative changes on your account.


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## Jason Rogers

FXCM is in the process of setting up free VPS for MT4 users, and we're looking for beta testers.  Let me know if you're interested.  You must have a live MT4 account through FXCM Australia.


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## James Austin

Hi Jason

I've been comparing esignals FX data to FXCMs. Esignal as you may be aware are known for their high quality data.

can you tell me, 
esignals 20min bars are  different in range (high to low) to FXCMs FX data by as many as 4 pips (AUDUSD) –  why is that?? 

Thanks
JA


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## James Austin

James Austin said:


> Hi Jason
> 
> I've been comparing esignals FX data to FXCMs. Esignal as you may be aware are known for their high quality data.
> 
> can you tell me,
> esignals 20min bars are  different in range (high to low) to FXCMs FX data by as many as 4 pips (AUDUSD) –  why is that??
> 
> Thanks
> JA






the blue lines are in the exact same place on both charts, the data source is the only difference
(AUDUS 20min)


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## Stormin_Norman

looks like esignal's data isnt smoothed.


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## lasty

"the blue lines are in the exact same place on both charts, the data source is the only difference
(AUDUS 20min)"

I suspect that FXCM is capturing data from their own internal source where as e signals capture it from a multitude.
Spreads could be wider from some of those other data providers, therefore they dont reflect the true market.
The same can be said with FXCM.They capture only what they have.
To get true data you will need to obtain it from the wholesale providers where the interbank (official) market only recognises the highs and lows.
Thats going to cost you large Im afraid.


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## James Austin

you can think of the blue line as a trend line

if you're an FXCM customer you're still waiting for the long entry, everyone else knows its already been


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## Jason Rogers

James Austin said:


> Hi Jason
> 
> I've been comparing esignals FX data to FXCMs. Esignal as you may be aware are known for their high quality data.
> 
> can you tell me,
> esignals 20min bars are  different in range (high to low) to FXCMs FX data by as many as 4 pips (AUDUSD) –  why is that??
> 
> Thanks
> JA





Hi James,

Sorry about the delay in answering.  I didn't have the new post notification setup properly :bonk: 

I agree that eSignal is a powerful charting package, but the feed also incorporates indicative prices.  For execution purposes, it wouldn't be useful since the feed is not one that you can execute trades at.

FXCM's price feed is made up of executable prices from 9 of the largest global banks in the world.  So the prices you see on the chart, were actual prices you could execute trades at.

On average there will be little difference between FXCM and eSignals GTIS feed on the major pairs.  The biggest differences will most likely occur on cross currencies since indicative pricing on cross currencies can vary more greatly.

Jason


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## nickdp

Jason Rogers said:


> FXCM is in the process of setting up free VPS for MT4 users, and we're looking for beta testers.  Let me know if you're interested.  You must have a live MT4 account through FXCM Australia.




hi Jason

need more beta testers, if so pls count me in.

cheers
Nick.


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## Jason Rogers

nickdp said:


> hi Jason
> 
> need more beta testers, if so pls count me in.
> 
> cheers
> Nick.




Hi Nick, 

I will PM you.

-Jason


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## dasmith1973

*Re: FXCM VPS Trial*

Have been running the beta VPS for last 2 weeks, the first improvement is the server must be pretty close to the broker as the delay is < 50 ms now.  Going thru local VPS was > 300 or more .

My impression is the trades are going thru a little better & catching more of the short term trades (the systems I am running are mostly short term swing & scalping trades).  I was finding previously the slippage for market orders pretty bad, while I still get slippage (mostly -ve) & qould still like to see some better order execution, it seems a little better now.  Certainly my account has now recovered 14% in last 2 weeks, back to breakeven, hooray!  Lets hope I haven't given myself some voodoo now & it keeps up!


----------



## Jason Rogers

*Re: FXCM VPS Trial*



dasmith1973 said:


> Have been running the beta VPS for last 2 weeks, the first improvement is the server must be pretty close to the broker as the delay is < 50 ms now.  Going thru local VPS was > 300 or more .
> 
> My impression is the trades are going thru a little better & catching more of the short term trades (the systems I am running are mostly short term swing & scalping trades).  I was finding previously the slippage for market orders pretty bad, while I still get slippage (mostly -ve) & qould still like to see some better order execution, it seems a little better now.  Certainly my account has now recovered 14% in last 2 weeks, back to breakeven, hooray!  Lets hope I haven't given myself some voodoo now & it keeps up!




Thanks for the feedback and good to hear about the improvement (knock on wood).  The VPS is located near our trade servers so it's probably one of the best ways you'll be able to cut down on latency other than moving to New York  .


----------



## dasmith1973

*Re: FXCM VPS Trial*



Jason Rogers said:


> Thanks for the feedback and good to hear about the improvement (knock on wood).  The VPS is located near our trade servers so it's probably one of the best ways you'll be able to cut down on latency other than moving to New York  .




Well that is close, I can really tell...& I too hope it continues!


----------



## Wysiwyg

James Austin said:


> Hi Jason
> 
> I've been comparing esignals FX data to FXCMs. Esignal as you may be aware are known for their high quality data.
> 
> can you tell me,
> esignals 20min bars are  different in range (high to low) to FXCMs FX data by as many as 4 pips (AUDUSD) –  why is that??
> 
> Thanks
> JA




JA, a perusal of _*Boston Technologies*_ website shows they are a bridge between FXCM and the banks. The MT4 platform is "configured" as can be seen on their video examples.


----------



## Jason Rogers

Wysiwyg said:


> JA, a perusal of _*Boston Technologies*_ website shows they are a bridge between FXCM and the banks. The MT4 platform is "configured" as can be seen on their video examples.




Not sure what the question was, but FXCM's MetaTrader 4 platform is powered by Boston Technologies.  It provides the communication link between MT4 and our no dealing desk execution.  

Brokers that buy the entire turn-key MT4 system will buy both the front end and back end.  If a broker has its own execution system and back end, then  a technology bridge has to be used to link the two togethor.  It's as though MT4 speaks a different language from FXCM's execution and there has to be a translator in the middle letting us know what MT4 is trying to do.  Boston Technologies specializes in creating those links and configures the bridge to each client's specifications to link the two together.


----------



## James Austin

Boston dont sound very firendly.


----------



## Jason Rogers

James Austin said:


> Boston dont sound very firendly.




Hi James,

The virtual dealer plugin created by Metaquotes is a legitimate concern for traders trading through a dealing desk which can profit off of trader losses.  Traditionally MT4 was built to work with dealing desk execution where increasing slippage or delaying the execution of an order would be to the benefit of the dealing desk.  It would be to the benefit of a dealing desk because a traders loss is their profit.  As you can see, trading through a dealing desk would pose a large conflict of interest because it is in their best interest for you to lose.

By executing all orders on MT4 through no dealing desk (no requotes from dealers) execution, it takes away this conflict of interest since FXCM is not profiting from a trader losing money.  It takes away the incentive to intentionally slip an order or delay execution on a trade.

Boston Technologies works with many brokers and can customize the MT4 setup to include Metaquote's virtual dealer plugin. FXCM's MT4 does not have this plugin and it would not make sense to use it to begin with.  Whether a trade is executed at the requested price or experiences slippage, FXCM makes the same amount of revenue.  Whether a trade is executed immediately or delayed, FXCM makes the same amount of revenue.

FXCM makes a portion of the spread off of each transaction.  Whether the trader eventually profits or loses money doesn't have an impact on our bottom line.  Naturally if a trader is profitable, that trader will probably trade for a longer time and in larger amounts.  Therefore it is in our best interests for traders to be profitable.  That's why we provide free education, research, trading signals, webinars, etc.

So the main point is:  Are you trading on a level playing ground?  With FXCM's MT4, we have removed that conflict of interest.


----------



## James Austin

Jason,

FXCM may not have a dealing desk, but why do you pretent there isnt one affiliated with FXCM. 

Afterall, someone, somewhere, *is managing* FXCMs prices, 
someone, somewhere, is taking on the risk, 
someone, somewhere, is collecting traders' loss, . . . . 
and that someone, in the end, no matter how you want to frame it, makes more money when the trader loses.

this is a conflict of interest . . . . wouldnt you say!!??

https://www.aussiestockforums.com/forums/showpost.php?p=472164&postcount=807





Jason Rogers said:


> Hi James,
> 
> The virtual dealer plugin created by Metaquotes is a legitimate concern for traders trading through a dealing desk which can profit off of trader losses.  Traditionally MT4 was built to work with dealing desk execution where increasing slippage or delaying the execution of an order would be to the benefit of the dealing desk.  It would be to the benefit of a dealing desk because a traders loss is their profit.  As you can see, trading through a dealing desk would pose a large conflict of interest because it is in their best interest for you to lose.
> 
> By executing all orders on MT4 through no dealing desk (no requotes from dealers) execution, it takes away this conflict of interest since FXCM is not profiting from a trader losing money.  It takes away the incentive to intentionally slip an order or delay execution on a trade.
> 
> Boston Technologies works with many brokers and can customize the MT4 setup to include Metaquote's virtual dealer plugin. FXCM's MT4 does not have this plugin and it would not make sense to use it to begin with.  Whether a trade is executed at the requested price or experiences slippage, FXCM makes the same amount of revenue.  Whether a trade is executed immediately or delayed, FXCM makes the same amount of revenue.
> 
> FXCM makes a portion of the spread off of each transaction.  Whether the trader eventually profits or loses money doesn't have an impact on our bottom line.  Naturally if a trader is profitable, that trader will probably trade for a longer time and in larger amounts.  Therefore it is in our best interests for traders to be profitable.  That's why we provide free education, research, trading signals, webinars, etc.
> 
> So the main point is:  Are you trading on a level playing ground?  With FXCM's MT4, we have removed that conflict of interest.


----------



## Jason Rogers

James Austin said:


> Jason,
> 
> FXCM may not have a dealing desk, but why do you pretent there isnt one affiliated with FXCM.
> 
> Afterall, someone, somewhere, is making up FXCMs prices,
> someone, somewhere, is taking on the risk,
> someone, somewhere, is collecting traders' loss, . . . .
> and that someone, in the end, no matter how you want to frame it, makes more money when the trader loses.
> 
> this is a conflict of interest . . . . wouldnt you say!!??




Yes, there is a market maker providing the pricing and taking on risk BUT there is a big difference between being able to trade anonymously with 10 banks versus trading directly against a single dealing desk which you are beholden to and decides the rules.

When you trade directly against a dealing desk, they decide what prices you can execute trades at, where the market moves, if your order gets requoted, how much slippage occurs, how much spreads widen, or if your order even gets executed at all.  You're not on a level playing field when trading against one market maker that controls everything.  There's incentive for you to lose.  I would think that trading is challenging enough without having to worry about obstacles being thrown in front of you by your broker.

With no dealing desk, there's competition and anonymity amongst 10 banks to take your orders.  You see the best bid/ask price streamed through onto the platform so there's no manipulation of where prices are moving by one market maker.  There are no re-quotes since the banks can't single out individual traders.  The banks see all orders as coming from FXCM.  Yes, the banks want to win as well; however, competition means that one entity cannot intentionally manipulate the market against you.


----------



## Wysiwyg

I could have sworn I spotted a post today advertising a competition coming up. 
The "reveal your money making EA to us comp." Just joking. Loll.


----------



## Jason Rogers

:







Wysiwyg said:


> I could have sworn I spotted a post today advertising a competition coming up.
> The "reveal your money making EA to us comp." Just joking. Loll.




Hey, that was supposed to be a secret... :

We actually will be sponsoring an EA competition in January.  Details forthcoming in December.


----------



## FXCM PR

*FXCM Sponsors the CNBC Australia Currency Challenge
Aussie’s trade currencies to win an Alfa Romeo *

Sydney Australia -22, September 2009-FXCM Australia Ltd joins with CNBC  to bring Australia the CNBC.com Currency Challenge. Beginning officially on October 6th, 2009, contestants can register throughout the duration of the contest to play. 

Today begins the practice session that will last until the weekend leading up to October 6th. Contestants can become familiar with the contest platform, practice trading, and create a winning strategy. 

In this virtual trading competition of currency trading, competitors will be allocated with 1,000,000 virtual dollars known as “CNBC Bucks” to trade on a platform powered by FXCM, one of the foremost currency trading firms.  For ten weeks, traders will compete for the grand prize, an Alfa Romeo. In addition, a weekly prize will be awarded to the trader with the highest percentage of weekly growth in the form of a $1000 AUD live forex trading account with FXCM Australia.  

FXCM, the exclusive sponsor of the event and one of the world’s largest forex brokers will provide free forex trading education resources to all contestants, including the option for every registered player to receive a free FX Power Course, FXCM’s premier 8 day online trading course. 

SPECIAL CONTEST PROMO
Anyone who opens a live FXCM AU forex trading account with a minimum of $300 AUD within the duration of the contest will have the opportunity to get a $100 AUD bonus deposited into their account 

For complete contest rules, and to register for CNBC.com’s Currency Challenge, please visit the CNBC Australian web site

*Resources for Contestants:*

Forex News: go to DailyFX, FXCM's free news and research site

*
FXCM Holdings, LLC Facts
As of June 2009* 
•	FXCM Holdings LLC has over $100 million in capital
•	More than 150,000 live accounts are traded on platforms offered by FXCM
•	An average of $365 billion in notional volume is traded each month on platforms offered by FXCM 
•	More than $600 million in customer funds trading on platforms offered by FXCM

Trading FX, CFDs and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors.


----------



## >Apocalypto<

Jason Rogers said:


> FXCM makes a portion of the spread off of each transaction.  Whether the trader eventually profits or loses money doesn't have an impact on our bottom line.  Naturally if a trader is profitable, that trader will probably trade for a longer time and in larger amounts.  Therefore it is in our best interests for traders to be profitable.  That's why we provide free education, research, trading signals, webinars, etc.




LOL crap,

so you FXCM hedges 100% of all the trades down to each mini and micro lot? 

they profit off your losses, that just depends how much they hedge.


----------



## Stormin_Norman

theyd hedge their exposure after matching trades.

i _think _australian brokers cant trade against clients. jason; can you confirm this?


----------



## Jason Rogers

>Apocalypto< said:


> LOL crap,
> 
> so you FXCM hedges 100% of all the trades down to each mini and micro lot?
> 
> they profit off your losses, that just depends how much they hedge.




All orders on no dealing desk execution are hedged back to back with a global bank.  The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip or less for major currency pairs. 

You can find our execution practices are disclosed in the product disclosure statement here http://www.forextrading.com.au/docs_pdfs/product-disclusore-statement-parts1_2.pdf .  See page 9.  

For FXCM Micro, the FXCM trading desk manages the risk for micro trades as disclosed on the micro website.  Out of the 10 banks that stream us prices only 2 will accept micro lots via no dealing desk execution.  Micro lot execution and spreads would suffer if only two banks were executing trades for micro accounts.  We are negotiating with the other 8 banks to accept micro lots and anticipate having NDD available on micro accounts eventually.  

Micro accounts are currently not offered through FXCM Australia.  We have standard 10k, MT4, and Active Trader accounts available.  All of which use no dealing desk execution.


----------



## Jason Rogers

Stormin_Norman said:


> theyd hedge their exposure after matching trades.
> 
> i _think _australian brokers cant trade against clients. jason; can you confirm this?




It is possible for Australian brokers to trade against their clients.  The product disclosure statement for each broker should detail the execution the method for offsetting trades. I know from reading through some myself that some brokers list themselves as a market maker and not as an agency.

On our NDD execution, each order is hedged individually.


----------



## caribean

If you are on wrong side of market it doesn't really matter who's on the other side of your trade, your own broker, or Joe from down the street, it is the 
"funny" games you don't want to see happening, like, phantom orders appearing when you knew you canceled them, spread widening when no other broker's has, price/platform freezing when at the least convenience to you on regular basis, price totally out of range, etc.
In any case, if proven stuff like that happens it should spread like wild fire through forums like this in a relatively small market place here in Australia.


----------



## CFD

Jason Rogers said:


> Micro accounts are currently not offered through FXCM Australia.  We have standard 10k, MT4, and Active Trader accounts available.  All of which use no dealing desk execution.




"Quote:
Originally Posted by >Apocalypto< View Post
LOL crap,"

Sorry, what was that Apocalypto, I couldn't hear you !!


----------



## >Apocalypto<

Jason Rogers said:


> All orders on no dealing desk execution are hedged back to back with a global bank.  The best spreads available to FXCM are streamed to you with a small markup, which is generally one pip or less for major currency pairs.
> 
> You can find our execution practices are disclosed in the product disclosure statement here http://www.forextrading.com.au/docs_pdfs/product-disclusore-statement-parts1_2.pdf .  See page 9.
> 
> For FXCM Micro, the FXCM trading desk manages the risk for micro trades as disclosed on the micro website.  Out of the 10 banks that stream us prices only 2 will accept micro lots via no dealing desk execution.  Micro lot execution and spreads would suffer if only two banks were executing trades for micro accounts.  We are negotiating with the other 8 banks to accept micro lots and anticipate having NDD available on micro accounts eventually.
> 
> Micro accounts are currently not offered through FXCM Australia.  We have standard 10k, MT4, and Active Trader accounts available.  All of which use no dealing desk execution.




you're a market maker, you profit from losses and as Norm noted match differences. 

STP yeh yeh, fancy marketing for we're different. (if I am wrong please correct me)

one thing I will note, the feed FXCM fire off to ATC is really excellent.

Jason the following is from the FXCM website. I see no difference in you and any other market maker. 

*DISCLOSURE
THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. FXCM IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, FXCM'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENTS FXCM ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES FXCM OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE AND FXCM MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS. IF FXCM ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT FXCM MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE FXCM ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM FXCM OR ANY OF FXCM'S REFERRING BROKERS. FXCM ITSELF DOES NOT PROVIDE INDIVIDUALIZED CLIENT TRADE RECOMMENDATIONS. *

Cheers


----------



## >Apocalypto<

CFD said:


> "Quote:
> Originally Posted by >Apocalypto< View Post
> LOL crap,"
> 
> Sorry, what was that Apocalypto, I couldn't hear you !!




cant hear me?

read a few posts above then


----------



## Wysiwyg

>Apocalypto< said:


> you're a market maker, you profit from losses and as Norm noted match differences.
> 
> STP yeh yeh, fancy marketing for we're different. (if I am wrong please correct me)
> 
> one thing I will note, the feed FXCM fire off to ATC is really excellent.




Apoc .... is ATC still ECN with comm. + spread?


----------



## >Apocalypto<

Wysiwyg said:


> Apoc .... is ATC still ECN with comm. + spread?




yeh, but sad news Aussies can only get a demo ATM , they need to register here to be able to take on clients.

their main business in the states is futures broking, so idea if it will ever happen.


----------



## Wysiwyg

> THE PRICES FXCM OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE AND FXCM MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS.




Right there is a place ASIC can clean up. Forex brokers are exploiting every hole in the system and Australia is "good business" for the influx of FX brokers coming on line.  Like I said before, they (FX brokers) are a law unto themselves.


----------



## Jason Rogers

>Apocalypto< said:


> you're a market maker, you profit from losses and as Norm noted match differences.
> 
> STP yeh yeh, fancy marketing for we're different. (if I am wrong please correct me)
> 
> one thing I will note, the feed FXCM fire off to ATC is really excellent.
> 
> Jason the following is from the FXCM website. I see no difference in you and any other market maker.
> 
> *DISCLOSURE
> THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. FXCM IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, FXCM'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENTS FXCM ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES FXCM OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE AND FXCM MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS. IF FXCM ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT FXCM MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE FXCM ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM FXCM OR ANY OF FXCM'S REFERRING BROKERS. FXCM ITSELF DOES NOT PROVIDE INDIVIDUALIZED CLIENT TRADE RECOMMENDATIONS. *
> 
> Cheers




Hi Apocalypto,

Taking portions of the website out of context is misleading.  

As explained in previous posts FXCM Micro trades are managed through the FXCM trading desk which is what the paragraph you listed describes.  If you would have copied the entire page or listed the website, then this would have been apparent as to what the paragraph applies to.  I'm guessing you took this from the US trading agreement in which case the second paragraph also goes on to mention that accounts on the no dealing desk feed are executed back to back with a bank and therefore the outcome of the trade has no impact on FXCM's profit or loss.  

You can read FXCM's execution policy for no dealing desk execution in the product disclosure statement http://www.forextrading.com.au/docs_pdfs/product-disclusore-statement-parts1_2.pdf on page 9:

FXCM offers No Dealing Desk (NDD) execution.  With NDD, FXCM does not take a market position, which eliminates a major conflict of interest between broker and trader.  Every trade is hedged back to back with FXCM LLC who in turn hedges with some of the world's premier banks or financial institutions, which compete to provide FXCM with bid and ask prices.  These price providers (banks and financial institutions) do not see your stops, limits, and entry orders,  The best spreads available to FXCM are streamed to you with a small markup.  There is no dealer confirmation.​


----------



## >Apocalypto<

Jason Rogers said:


> Hi Apocalypto,
> 
> Taking portions of the website out of context is misleading.
> 
> As explained in previous posts FXCM Micro trades are managed through the FXCM trading desk which is what the paragraph you listed describes.  If you would have copied the entire page or listed the website, then this would have been apparent as to what the paragraph applies to.  I'm guessing you took this from the US trading agreement in which case the second paragraph also goes on to mention that accounts on the no dealing desk feed are executed back to back with a bank and therefore the outcome of the trade has no impact on FXCM's profit or loss.
> 
> You can read FXCM's execution policy for no dealing desk execution in the product disclosure statement http://www.forextrading.com.au/docs_pdfs/product-disclusore-statement-parts1_2.pdf on page 9:
> 
> FXCM offers No Dealing Desk (NDD) execution.  With NDD, FXCM does not take a market position, which eliminates a major conflict of interest between broker and trader.  Every trade is hedged back to back with FXCM LLC who in turn hedges with some of the world's premier banks or financial institutions, which compete to provide FXCM with bid and ask prices.  These price providers (banks and financial institutions) do not see your stops, limits, and entry orders,  The best spreads available to FXCM are streamed to you with a small markup.  There is no dealer confirmation.​




thanks for clearing that up


----------



## >Apocalypto<

Jason Rogers said:


> Hi Apocalypto,
> 
> Taking portions of the website out of context is misleading.
> 
> As explained in previous posts FXCM Micro trades are managed through the FXCM trading desk which is what the paragraph you listed describes.  If you would have copied the entire page or listed the website, then this would have been apparent as to what the paragraph applies to.  I'm guessing you took this from the US trading agreement in which case the second paragraph also goes on to mention that accounts on the no dealing desk feed are executed back to back with a bank and therefore the outcome of the trade has no impact on FXCM's profit or loss.
> 
> You can read FXCM's execution policy for no dealing desk execution in the product disclosure statement http://www.forextrading.com.au/docs_pdfs/product-disclusore-statement-parts1_2.pdf on page 9:
> 
> FXCM offers No Dealing Desk (NDD) execution.  With NDD, FXCM does not take a market position, which eliminates a major conflict of interest between broker and trader.  Every trade is hedged back to back with FXCM LLC who in turn hedges with some of the world's premier banks or financial institutions, which compete to provide FXCM with bid and ask prices.  These price providers (banks and financial institutions) do not see your stops, limits, and entry orders,  The best spreads available to FXCM are streamed to you with a small markup.  There is no dealer confirmation.​




Jason after heavy reading of experiences of past customers, the overall picture tells me you guys have a slippage problem?

I trade off a 1min chart with interactive brokers in the news out of the news never had a slippage issue.

Is there a difference in a true ECN and in the STP you offer? These are internet reviews so who knows if they're true????

Cheers,


----------



## Jason Rogers

>Apocalypto< said:


> Jason after heavy reading of experiences of past customers, the overall picture tells me you guys have a slippage problem?
> 
> I trade off a 1min chart with interactive brokers in the news out of the news never had a slippage issue.
> 
> Is there a difference in a true ECN and in the STP you offer? These are internet reviews so who knows if they're true????
> 
> Cheers,




Slippage can occur in forex trading as in any other market.  Trading during a news event would increase the likelihood of slippage since the market tends to be less liquid and more volatile during a news release.  

If you're trading in and out of the market using maret orders, there is a way to minimize slippage on our platform.  You can set the order type to market range indicating a range of prices you're willing to accept.  Sort of like a fill or kill order, but you specify within what range of prices.  If the market has moved outside of the range, then the order gets cancelled rather than being slipped by a larger amount than specificied.

If you're scalping and trading over a million per click, then the Active Trader platform would be ideal since you can see level II type depth of market.  The active trader platform also has a dedicated liquidity pool for active trader clients.

In my opinion, the term ECN is thrown around liberally in the forex market.  Many say ECN when trying to describe the opposite of a dealing desk.  A true ECN will allow traders to make a market and hit another traders price in the order book.  In an STP or NDD setup, the order will go into process whenever a bank offers the requested price.


----------



## dasmith1973

Wysiwyg said:


> I could have sworn I spotted a post today advertising a competition coming up.
> The "reveal your money making EA to us comp." Just joking. Loll.




I thought the competition you were refering to was this one...

http://www.forex-robot-world-cup.com

Apparently sponsored by FXCM..anyone know anything about it?


----------



## Jason Rogers

dasmith1973 said:


> I thought the competition you were refering to was this one...
> 
> http://www.forex-robot-world-cup.com
> 
> Apparently sponsored by FXCM..anyone know anything about it?




They will be using FXCM's MT4 platform for their contest.  

The competition FXCM will have a greater role in sponsoring is this one http://www.manversusmachine.net/


----------



## dasmith1973

Interestingly the competition send out an email today with a notice they would be changing the rules about owners of EA's handing over the rights for their IP to FXCM who would then make money from reselling the experts.!

Obviously they received a lot of complaints, I know I wouldn't compete if I knew I was losing the rights to my own work!


----------



## >Apocalypto<

Jason Rogers said:


> Slippage can occur in forex trading as in any other market.  Trading during a news event would increase the likelihood of slippage since the market tends to be less liquid and more volatile during a news release.
> 
> If you're trading in and out of the market using maret orders, there is a way to minimize slippage on our platform.  You can set the order type to market range indicating a range of prices you're willing to accept.  Sort of like a fill or kill order, but you specify within what range of prices.  If the market has moved outside of the range, then the order gets cancelled rather than being slipped by a larger amount than specificied.
> 
> If you're scalping and trading over a million per click, then the Active Trader platform would be ideal since you can see level II type depth of market.  The active trader platform also has a dedicated liquidity pool for active trader clients.
> 
> In my opinion, the term ECN is thrown around liberally in the forex market.  Many say ECN when trying to describe the opposite of a dealing desk.  A true ECN will allow traders to make a market and hit another traders price in the order book.  In an STP or NDD setup, the order will go into process whenever a bank offers the requested price.




Hi Jason,

This is a interesting comment I found.

_Not all of the above apply to FXCM's "no-dealing-desk" trading option. In this set-up, trades are routed to other interbank market participants. *Of course, one of FXCM's "interbank market participants" is FXCM Asia LTD which can still manipulate prices to a client's disadvantage. *_


The source is http://en.wikipedia.org/wiki/FXCM#cite_note-2

So you see this is why I am still so skeptical of the company you represent.

On top of the comment by doc that you gain rights / access to EA scripts.

cheers,


----------



## Jason Rogers

>Apocalypto< said:


> Hi Jason,
> 
> This is a interesting comment I found.
> 
> _Not all of the above apply to FXCM's "no-dealing-desk" trading option. In this set-up, trades are routed to other interbank market participants. *Of course, one of FXCM's "interbank market participants" is FXCM Asia LTD which can still manipulate prices to a client's disadvantage. *_
> 
> 
> The source is http://en.wikipedia.org/wiki/FXCM#cite_note-2
> 
> So you see this is why I am still so skeptical of the company you represent.
> 
> On top of the comment by doc that you gain rights / access to EA scripts.
> 
> cheers,




While Wikipedia is a good resource for free information, it's only as reliable as its sources.  Much in the same way that you're trusting information from the forums from anonymous members.  In this case, anyone is free to update Wikipedia information to their liking, whether true/untrue or biased and is not an official FXCM source of information.  For all we know, you could have written it... Not that you have , but you get my point.  

What is official is the product disclosure and trading agreement information.  We are a regulated entity, across several jurisdictions so the information we disclose through our trading agreements is factual and official.

All standard 10k, MT4, Forex System Selector, and Active Trader accounts are executed through No Dealing Desk execution, and the majority of Micro accounts are executed through the FXCM trading desk as disclosed.

Jason


----------



## >Apocalypto<

Jason Rogers said:


> While Wikipedia is a good resource for free information, it's only as reliable as its sources.  Much in the same way that you're trusting information from the forums from anonymous members.  In this case, anyone is free to update Wikipedia information to their liking, whether true/untrue or biased and is not an official FXCM source of information.  For all we know, you could have written it... Not that you have , but you get my point.
> 
> What is official is the product disclosure and trading agreement information.  We are a regulated entity, across several jurisdictions so the information we disclose through our trading agreements is factual and official.
> 
> All standard 10k, MT4, Forex System Selector, and Active Trader accounts are executed through No Dealing Desk execution, and the majority of Micro accounts are executed through the FXCM trading desk as disclosed.
> 
> Jason




So you do pass STP trades on to your ASIAN FXCM, and no I didn't write it.

Cheers,


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## Jason Rogers

>Apocalypto< said:


> So you do pass STP trades on to your ASIAN FXCM, and no I didn't write it.
> 
> Cheers,




FXCM Asia is not a liquidity provider on the NDD execution.  We do not pass STP trades to FXCM Asia.  I confirmed with both our compliance department and trading desk.  The trades are hedged back to back with one of 10 banks providing liquidity on the platform.  I will also update wikipedia page since it lists incorrect information.

Jason

BTW...didn't mean to say you wrote it, just using as an example that information on wikipedia can be updated by anyone without a source referenced.  If it's referenced, then all the better.


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## Unnamed User

Anyone use or have used FXCM and have any feedback?

Not looking to scalp but take up longer term positions, months not minutes and would be trading on their platform not metatrader.

Any feedback would be handy, thanks


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## Alpha_Bet

Unnamed User said:


> Not looking to scalp but take up longer term positions, months not minutes and would be trading on their platform not metatrader.
> 
> Any feedback would be handy, thanks




Trading longer term swings there are many shops that can accommodate your business. Look at security of funds and cost of carry.  
I really don't understand why you guys wish to trade with a third party when Futures markets are available


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## Jason Rogers

*FXCM Australia introduces lower spreads*

Hi Everyone,

FXCM Australia is now offering lower spreads through our new dealing desk execution option.   Here’s a list of the new spreads for twelve of FXCM’s most popularly traded currency pairs.





While FXCM believes that NDD execution provides the best overall trading experience, we also offer dealing desk execution as an option for traders whose primary concern is low spreads.  Traders can now choose which option best fits their needs.

There is a table on our website that goes into more detail about the trading restrictions on the dealing desk option such as maximum lot size, maximum account balance, etc. http://www.forextrading.com.au/execution-types.jsp, and let me know if you  have any questions.

Jason


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## OGRooney

sheesh those are really low spreads


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## Steve C

OGRooney said:


> sheesh those are really low spreads




Noob Question of the week: What exactly to the pip spread figures mean?


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## OGRooney

Steve C said:


> Noob Question of the week: What exactly to the pip spread figures mean?




The difference between the buy and sell price. This is how most brokers turn a profit and also prevents you from endlessly profiting of minor flucuations in the price ie with no spread you could simultaneously buy and sell with orders to take profit at one pip, it's almost guaranteed that both orders would be filled at profit within a matter of seconds given a normal evenings price volatility.


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## Steve C

OGRooney said:


> The difference between the buy and sell price. This is how most brokers turn a profit and also prevents you from endlessly profiting of minor flucuations in the price ie with no spread you could simultaneously buy and sell with orders to take profit at one pip, it's almost guaranteed that both orders would be filled at profit within a matter of seconds given a normal evenings price volatility.




I see, so scalping with FX then becomes very hard - Thanks OGRooney.


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## TulipFX

OGRooney said:


> sheesh those are really low spreads




They're an improvement on what they had previously offered. Good to see competition constantly improving trading conditions.


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## OGRooney

TulipFX said:


> They're an improvement on what they had previously offered. Good to see competition constantly improving trading conditions.




Anyone going to the boot camp in Sydney tomorrow?


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