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FXCM review
Started: by Big Mike Views / Replies:29,914 / 183
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FXCM review

  #131 (permalink)
Trading for Fun
Kalispell montana
 
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Jason Rogers View Post
Hi Sledmt,

FXCM demo accounts show you the same spreads our live accounts. You can try a free Mini account demo and look at a tick (t1) chart to see our historical spreads.

Thanks Jason. Will take a look at the tick chart and see the historical spreads. While I have your "ear", I have another question. Somewhere I was reading that the mini account with FXCM is a dealing desk. While the other two accounts are non-dealing desk. What information do you have concerning this question?

thanks.

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  #132 (permalink)
 Vendor: www.fxcm.com 
New York
 
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Platform: Strategy Trader
 
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sledmt View Post
Thanks Jason. Will take a look at the tick chart and see the historical spreads. While I have your "ear", I have another question. Somewhere I was reading that the mini account with FXCM is a dealing desk. While the other two accounts are non-dealing desk. What information do you have concerning this question?

thanks.

That's right. FXCM providers No Dealing Desk (NDD) forex execution to all Standard and Active Trader accounts, and DD execution to Mini accounts. Our website has more information so you can compare account types.

If you have questions about our services at FXCM please send me a Private Message.
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  #133 (permalink)
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Jason (FXCM)

Is your server acts as a match maker for ask/bid orders? Do you play market maker if no counter match to my order and therefore provide liquidity?

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  #134 (permalink)
Trading for Fun
Kalispell montana
 
Futures Experience: Beginner
Platform: ninjatrader
Favorite Futures: es
 
Posts: 158 since Jan 2015
Thanks: 157 given, 23 received


Jason Rogers View Post
That's right. FXCM providers No Dealing Desk (NDD) forex execution to all Standard and Active Trader accounts, and DD execution to Mini accounts. Our website has more information so you can compare account types.

Between the NDD and DD, what differences does the trader experience? Volume, spreads, etc....?

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  #135 (permalink)
 Vendor: www.fxcm.com 
New York
 
Futures Experience: Intermediate
Platform: Strategy Trader
 
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Posts: 160 since Aug 2010
Thanks: 112 given, 150 received

Futures Edge on FIO

Which products do you trade?

 

IzhakHaim View Post
Jason (FXCM)

Is your server acts as a match maker for ask/bid orders? Do you play market maker if no counter match to my order and therefore provide liquidity?

Hi Izhak,

With the No Dealing Desk (NDD) forex execution FXCM provides to all Standard accounts (5k account opening minimum) and Active Trader accounts (25k minimum) we offset each client order one-for-one with the best prices from competing liquidity providers.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

With our NDD model, FXCM does not act as a market marker in any currency pairs. As such, FXCM is reliant on these external providers for currency pricing. Although this model promotes efficiency and competition for market pricing, there are certain limitations to liquidity that can affect the final execution of your order.

By contrast, with the DD execution, we provide to Mini accounts ($50 account opening minimum) we can act as the dealer on any or all currency pairs. Backup liquidity providers fill in when FXCM does not act as the dealer.

If you have questions about our services at FXCM please send me a Private Message.
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  #136 (permalink)
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white plains new york
 
Futures Experience: Intermediate
Platform: NJ
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Jason Rogers View Post
Hi Izhak,

With the No Dealing Desk (NDD) forex execution FXCM provides to all Standard accounts (5k account opening minimum) and Active Trader accounts (25k minimum) we offset each client order one-for-one with the best prices from competing liquidity providers.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

With our NDD model, FXCM does not act as a market marker in any currency pairs. As such, FXCM is reliant on these external providers for currency pricing. Although this model promotes efficiency and competition for market pricing, there are certain limitations to liquidity that can affect the final execution of your order.

By contrast, with the DD execution, we provide to Mini accounts ($50 account opening minimum) we can act as the dealer on any or all currency pairs. Backup liquidity providers fill in when FXCM does not act as the dealer.


So with accounts less than $5K, you are taking the other side of the trade-meaning you are the counter party, therefore we trade against FXCM and our limit orders/SL,TP are all exposed to your trading desk, correct?

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  #137 (permalink)
Trading for Fun
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Posts: 158 since Jan 2015
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IzhakHaim View Post
So with accounts less than $5K, you are taking the other side of the trade-meaning you are the counter party, therefore we trade against FXCM and our limit orders/SL,TP are all exposed to your trading desk, correct?

With his question, I was wondering how the slippage compares between the NDD and DD. Also, how close is the ask bid price between the NDD and DD?

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  #138 (permalink)
Trading for Fun
Kalispell montana
 
Futures Experience: Beginner
Platform: ninjatrader
Favorite Futures: es
 
Posts: 158 since Jan 2015
Thanks: 157 given, 23 received


sledmt View Post
With his question, I was wondering how the slippage compares between the NDD and DD. Also, how close is the ask bid price between the NDD and DD?


Adding to the question about slippage, I was reading in your documentation about "Market Range" feature. This sounds like a great way to limit your slippage when entering a trade. Does this feature work in the DD (mini account)?

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  #139 (permalink)
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sledmt View Post
With his question, I was wondering how the slippage compares between the NDD and DD. Also, how close is the ask bid price between the NDD and DD?

Jason,

?

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  #140 (permalink)
Membership Temporarily Revoked
white plains new york
 
Futures Experience: Intermediate
Platform: NJ
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Posts: 66 since Apr 2016
Thanks: 30 given, 66 received



IzhakHaim View Post
So with accounts less than $5K, you are taking the other side of the trade-meaning you are the counter party, therefore we trade against FXCM and our limit orders/SL,TP are all exposed to your trading desk, correct?

Jason,

Your reply ?

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