jasonrogers's Posts - Page 3

FXCM was hacked !!! in General Oct 05, 2015 at 22:03

Hello Everyone,Below is the full text of the announcement FXCM posted on Thursday:http://ir.fxcm.com/releasedetail.cfm?ReleaseID=934649Statement on FXCM Cybersecurity IncidentNEW YORK, Oct. 1, 2015 (GLOBE NEWSWIRE) -- FXCM Inc. (NYSE:FXCM) ("FXCM" or "the Company"), a leading online provider of foreign exchange (FX) trading and related services, today announced that it was the victim of a criminal cybersecurity incident involving unauthorized access to customer information. At this time FXCM has identified a small number of unauthorized wire transfers from customer accounts...

Looking to find trading buddies with similar strategy, Manual Price actions in Experienced Traders Sep 04, 2015 at 18:52

I'm sorry to hear of your negative personal experience, but it's not representative of the 179,577 active retail accounts trading with FXCM as of our latest publicly available quarterly results.On our No Dealing Desk (NDD) forex execution model, we offset each of your orders one for one with the best prices from competing liquidity providers. That means we don't profit from your losses or lose from your profits. Instead, we make our money from your trading volume. Therefore, we want you to be profitable, so you can trade more.FXCM welcomes all trading strategies on our NDD model, a...

FXCM in Brokers Jun 26, 2015 at 20:31

@iva1977 it's important to note that the spread widening you mentioned did not occur at some random time. It was due to trade rollover which occurs at 5pm New York time every weekday, so it's not unexpected like you are suggesting.That is the time when one trading day ends, and the next one begins in the global forex market. Banks use this time to refresh their servers as they apply rollover interest to open positions. Some banks will widen their spreads around this time while others stop quoting prices altogether.http://i.imgur.com/wXuYnXy.pngIt's precisely because our prices are ...

FXCM Truncating MT4 History in General May 18, 2015 at 21:15

I'm sorry to hear of you weren't please with our service, but I appreciate your feedback. If if it's not too much trouble, could you tell me a bit more about what you didn't like? The information you provide can help us to improve our service.

FXCM Truncating MT4 History in General May 18, 2015 at 21:05

FXCM archives the history on MT4 after some time as do some other brokers: http://www.myfxbook.com/help#help_31Depending on how you plan to use this data from your signal account, our tech support team may be able to provide you with a solution. If you send me a private message with your contact details, I'll be happy to arrange a follow up for you with them.

FXCM? in Experienced Traders Apr 13, 2015 at 17:52

Hi Andy,In the United States, CFTC Regulation 5.16 applies to all US forex trading accounts regardless of the broker. Therefore, no broker may in any way represent that it will guarantee against losses in a US forex trading account. That means, in the future if a similar event to the January 15th SNB announcement happens, US forex traders shall at all times be liable to their broker for any negative balance or debit balance in their accounts. Your forum profile mentions that you live in the US, so this CFTC regulation would apply to you.For FXCM clients who live outside the US, it's worth...

FXCM? in Experienced Traders Apr 09, 2015 at 23:10

Hi Nushakov,Our clients, like most retail traders elsewhere, were net long EUR/CHF on January 15th. That means they lost money due to the SNB's surprise announcement which caused EUR/CHF drop 40% in seconds. If we traded against our clients like you suggest, then we would have made money from those losses, but we didn't.If there were any doubts before, it should be pretty clear now that FXCM does not benefit when clients lose on our No Dealing Desk (NDD) forex execution. That's because we offset each of your orders one-for-one with the best prices from competing liquidity providers...

FXCM in Brokers Apr 09, 2015 at 22:50

Hi Nushakov,If you're implying that the freezing of your MT4 platform is something deliberate on our part, then you would be mistaken. The fact that the Trading Station Web platform worked for you on the same account is proof of this. However, our tech support team would happy to help you determine the actual cause of the issues you have on MT4.Below are two recent examples of traders who had problems with MT4 that our tech specialists were able to solve:- http://bit.ly/1IOWkFV- http://bit.ly/1as4xEFI am confident we can help you as well. 😄It's worth noting that on our No Deali...

FXCM? in Experienced Traders Apr 08, 2015 at 19:20

Hi Ben,With FXCM, slippage can be either positive or negative.It's important to note that to this day, some brokers may still not provide positive slippage to their clients, while others may provide positive slippage on some order types, but don't provide it on other order types. Still other brokers will re-quote their clients when the price moves in their clients' favor but fail to re-quote when the price moves against them.By contrast, there are no re-quotes at FXCM, and our clients receive the full benefits of any positive slippage that's available. A one-year study of over ...

FXCM? in Experienced Traders Apr 08, 2015 at 19:09

FXCM offers traders No Dealing Desk (NDD) forex execution. That means we offset each of your orders one-for-one with the best available prices from competing liquidity providers: http://www.myfxbook.com/forex-broker-spreadsSince we don't take the market risk on the other side of your trades, we don't profit from your losses or lose from your profits. Instead, we make our money from your trading volume. Therefore, we want you to be profitable so you will continue trading with us.

FXCM? in Experienced Traders Mar 24, 2015 at 17:57

Hi Wivilson,FXCM clients can deposit, withdraw, and trade as usual. FXCM is one of the few brokers to show you actual retail FX trading volume, and as you can see from EUR/USD, which is one of the most popular currency pairs, our clients EUR/USD trading volumes have hit the highest levels since 2012:http://i.imgur.com/LIAAzZr.jpgWhile our clients did experience losses due to the January 15 event, the $300 million financing FXCM received strengthened our balance sheet and gives us the opportunity to grow our core business. Let me know if you have any questions.Jason

FXCM in Brokers Feb 12, 2015 at 23:14

@medisoft I'm glad you can now see the Skrill deposit option when you login into MyFXCM.com. You are correct that you must first deposit via Skrill in order to be able to withdraw via Skrill in the future.Note that the website is still being updated to display the Skrill withdrawal option. If you need to make a Skrill withdrawal before the update is complete, you can still do so by emailing the details of your withdrawal request to [email protected].

FXCM in Brokers Feb 12, 2015 at 00:16

Please try refreshing the webpage to make sure you're loading the latest information, since Skrill was only added as a deposit option recently. If you still don't see Skrill on MyFXCM.com, then please send me a private message with your account details. I'll check the settings for you.

Oanda versus FXCM in General Feb 10, 2015 at 23:33

FXCM believes No Dealing Desk (NDD) forex execution provides a fair model for traders, because it eliminates the conflict of interest that can exist when trading with dealing desk brokers.If you trade with a dealing desk firm AKA a market maker, at the most basic level, your losses can result in profits for your broker, and vice versa. That's why some dealing desk brokers are announcing record profits from the SNB announcement. Imagine what would have happened at a those same firms had the market surprised in the opposite direction.

Oanda versus FXCM in General Feb 10, 2015 at 23:32

The primary change we will be making is removing currency pairs from the platform that carry significant risk due to over-active manipulation by their respective government either by a floor, ceiling, peg or band. Given what happened with EUR/CHF the industry is now looking very hard at any potentially similar issues, especially given the increased geopolitical risks in Southern and Eastern Europe.We will also be raising margin requirements for other pairs as well. Some of these changes will be permanent while others may change as geopolitical risks change. The pairs we are removing from the p...

Oanda versus FXCM in General Feb 10, 2015 at 23:31

The Active Trader account opening minimum has always been at least 25k and has not changed since the SNB announcement.

Oanda versus FXCM in General Feb 10, 2015 at 23:30

FXCM is not insolvent, has not filed for any form of bankruptcy, and is in compliance with all regulatory capital requirements in the jurisdictions in which it operates. The financing we received from Leucadia has strengthened our balance sheet and gives us the opportunity to grow our core business. With Leucadia, our pockets are even deeper and we aren’t going anywhere. Additionally, all of our regulated entities except the U.S. provide clients with segregated funds. All of our global client base in our regulated entities minus US clients would be protected under a bankruptcy. Our UK re...

Oanda versus FXCM in General Feb 10, 2015 at 23:29

We anticipate that with the proceeds from the sale of some non-core assets and continued earnings we can meet both near and long-term obligations of our financing, while preserving the strength of our franchise. It’s widely known and understood that FXCM’s core business has always been retail FX; It is the majority of FXCM’s revenue.However, over the past few years, the company has spent over $250 million dollars making strategic acquisitions building up our non-core businesses, mainly the institutional side as we tried to diversify the firm. We are now looking to sell some o...

Oanda versus FXCM in General Feb 10, 2015 at 23:28

As a regulated broker we are required to notify our regulators in a timely manner when any event occurs that may be deemed sensitive to clients. When we notified the regulators, they required FXCM Inc.’s regulated entities to supplement their respective net capital on an expedited basis.We explored multiple debt and equity financing alternatives in an effort to meet the regulator’s deadline. The deal we ended up doing with Leucadia was the only deal that could and would happen in the very short timeframe we were given by the regulators. The CEO and the president of Leucadia were he...

Oanda versus FXCM in General Feb 10, 2015 at 23:27

Many people traded EUR/CHF with FXCM, because we are a no dealing-desk broker and offset each trade one-for-one with our liquidity providers, and only make money on trades not customer losses. We published a study a few years ago called “traits of successful traders” that looked at FXCM traders over a long period of time and their general behavior to find what was destructive behavior to stay away from and what worked for clients.The study focuses on what the majority of profitable traders did to increase their odds of success. What the study found was that traders who traded durin...

EURUSD	1.05265	GBPUSD	1.26077	AUDUSD	0.6456
USDJPY	154.322	USDCAD	1.40888	USDCHF	0.8882

Posts by jasonrogers