FXCM sets up shop locally

[Stormin_Norman]

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

 

[Jason Rogers]

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

 

[Jason Rogers]

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.

 

[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?

 

[Jason Rogers]

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

 

[Jason Rogers]

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

 

[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.

 

[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

 

[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

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

 

[Stormin_Norman]

looks like esignal's data isnt smoothed.

 

[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.

 

[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

 

[Jason Rogers]

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

 

[nickdp]

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.

 

[Jason Rogers]

hi Jason

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

cheers
Nick.

Hi Nick,

I will PM you.

-Jason

 

[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

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

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]

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]

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.