FXCM review - Brokers and Data Feeds | futures.io
futures.io futures trading


FXCM review
Started: by Big Mike Views / Replies:29,934 / 183
Last Reply: Attachments:4

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 4  
 
Thread Tools Search this Thread
 

FXCM review

  #31 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/Rithmic
Favorite Futures: ES, NQ
 
trendisyourfriend's Avatar
 
Posts: 3,616 since Oct 2009
Thanks: 2,939 given, 4,359 received


Pocketful View Post
...In market entries, the full spread goes to the broker first in NT. In SC, half spread on entry, second half on trade exit. I will review more closely, but what I mean by example, the US30 has 4 tick spread. In NT, you're down 4 ticks on trade entry. In SC, you're only down 2 on entry, and then lose 2 on exit. Each US30 tick is worth $1 vs YM's $5.

Until I'm an accredited investor ...

Really! it costs double as much with NT? Why is it so?

Reply With Quote
 
  #32 (permalink)
ribs
Philadelphia
 
Futures Experience: None
Platform: sc
Favorite Futures: time
 
Itchymoku's Avatar
 
Posts: 2,833 since Apr 2012
Thanks: 1,636 given, 3,451 received

does fxcm have range bars yet?

Reply With Quote
 
  #33 (permalink)
Elite Member
Mérida, Mexico
 
Futures Experience: Intermediate
Platform: NinjaTrader 7
Broker/Data: CapTrader / Kinetick
Favorite Futures: CL
 
michaelf's Avatar
 
Posts: 487 since Mar 2011
Thanks: 1,060 given, 487 received



Itchymoku View Post
does fxcm have range bars yet?

@Itchymoku

you can find here a lot of indicators and bar typs for FXCM platforms

FxCodeBase

Reply With Quote
 
  #34 (permalink)
ribs
Philadelphia
 
Futures Experience: None
Platform: sc
Favorite Futures: time
 
Itchymoku's Avatar
 
Posts: 2,833 since Apr 2012
Thanks: 1,636 given, 3,451 received


michaelf View Post
@Itchymoku

you can find here a lot of indicators and bar typs for FXCM platforms

FxCodeBase

thanks, I was hoping it would be included in their platform with out the need to download or install it. I'll look for it on this website.

Reply With Quote
 
  #35 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,655 since Jun 2009
Thanks: 29,044 given, 80,660 received

Futures Edge on FIO

Which products do you trade?

 

Itchymoku View Post
thanks, I was hoping it would be included in their platform with out the need to download or install it. I'll look for it on this website.

Just use NinjaTrader with FXCM.

Sent from my LG Optimus G Pro

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #36 (permalink)
Elite Member
Vancouver, BC, Canada
 
Futures Experience: Beginner
Platform: NinjaTrader 7
Broker/Data: Global Futures (Ironbeam), Continuum
Favorite Futures: YM
 
Posts: 11 since Jan 2013
Thanks: 18 given, 8 received


trendisyourfriend View Post
Really! it costs double as much with NT? Why is it so?

If you mean the instrument spread costs, they're whatever FXCM is showing in Trading Station and cost the same in whatever platform used for trading.

In my example, NT uses bid prices for charting and execution. The broker gets paid first; so you're down 4 ticks/pips right away. In SC, charts display the spread mid-point and handle executions differently. Any traders with more experience can correct me.

As I get successful, I plan to trade futures instruments because for FXCM customers in Canada, Friedberg Direct is the market maker for CFDs.

Reply With Quote
 
  #37 (permalink)
 Vendor: www.fxcm.com 
New York
 
Futures Experience: Intermediate
Platform: Strategy Trader
 
Jason Rogers's Avatar
 
Posts: 160 since Aug 2010
Thanks: 112 given, 150 received


Pocketful View Post
If I decide to go 100% with NT, I would need a muti-license.


trendisyourfriend View Post
Really! it costs double as much with NT? Why is it so?


Hi guys,

If you open your trading account with $5000 and trade 500k per month in round turn notional volume, FXCM will pay for your NinjaTrader software license. If you already have a single broker NinjaTrader license and simply want to add FXCM, you can contact us at admin@fxcm.com for special instructions.

If you have questions about our services at FXCM please send me a Private Message.
Reply With Quote
 
  #38 (permalink)
Elite Member
Denver, CO
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES
 
NinjaTrader's Avatar
 
Posts: 1,197 since May 2010
Thanks: 142 given, 1,791 received


Pocketful View Post
In my example, NT uses bid prices for charting and execution. The broker gets paid first; so you're down 4 ticks/pips right away. In SC, charts display the spread mid-point and handle executions differently. Any traders with more experience can correct me.

Executions are not influenced by the platform. You submit your order through any platform, this order is then filled at FXCM and a fill price is reported back to the platform. Since there is no last trade data in FX, the platform provider must decide what to chart. Implying that using SC you would be down less is inaccurate. Let me provide you an example:

- Bid 31 x Ask 34
- You enter long at 34
- NT chart would show that you are down 3 pips relative to the bid price meaning, if you exited at market you would be filled at 31
- SC might chart 32.5 (mid point as you stated) might show you are only down 1.5 pips which is inaccurate since the bid is truly at 31 and is the price you would be filled at

Reply With Quote
The following 2 users say Thank You to NinjaTrader for this post:
 
  #39 (permalink)
ribs
Philadelphia
 
Futures Experience: None
Platform: sc
Favorite Futures: time
 
Itchymoku's Avatar
 
Posts: 2,833 since Apr 2012
Thanks: 1,636 given, 3,451 received

I find the mobile platform interesting but I don't see any way to really scale out of positions. Am I missing something? (I tried to do this on the downloadable software as well and can't find it either) It looks like what happens is that it shows a net position of all orders I've entered on a specific currency pair and allows only one stop/limit on that net position. Even if I enter more than one position it won't allow me to enter different limits or stops on those extra positions on the same pair. Would I have to connect FXCM to another platform other than their own to scale out of positions?

Reply With Quote
 
  #40 (permalink)
 Vendor: www.fxcm.com 
New York
 
Futures Experience: Intermediate
Platform: Strategy Trader
 
Jason Rogers's Avatar
 
Posts: 160 since Aug 2010
Thanks: 112 given, 150 received



Itchymoku View Post
I find the mobile platform interesting but I don't see any way to really scale out of positions. Am I missing something? (I tried to do this on the downloadable software as well and can't find it either) It looks like what happens is that it shows a net position of all orders I've entered on a specific currency pair and allows only one stop/limit on that net position. Even if I enter more than one position it won't allow me to enter different limits or stops on those extra positions on the same pair. Would I have to connect FXCM to another platform other than their own to scale out of positions?

Hi Itchymoku,

I notice your forum profile mentions that you live in Philadelphia. The reason for the net positions is that as a US resident, your FXCM trading account has to comply with CFTC regulations regarding FIFO (first-in, first-out) execution. It is still possible for US traders to scale in and out of net positions on the FXCM platform, but it works a bit differently than for non-US accounts. Below are instructions on how to set multiple stop/limit levels for a position on an FXCM US account using Trading Station Mobile.


1. On the Rates screen, tap on the currency relevant currency pair.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

2. On the Currency screen, tap on OCO (One Cancels the Other order type).
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

3. On the OCO screen, select the amount of your position that will be closed if this OCO order triggers and specify the price levels for both the stop and limit.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

4. On the Orders screen you can see OCO orders designated by a connecting line. If one of those orders is triggered, the related order will automatically be cancelled.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please let me know if you have any further questions.

Jason

If you have questions about our services at FXCM please send me a Private Message.
Reply With Quote
The following user says Thank You to Jason Rogers for this post:

Reply



futures.io > > > > FXCM review

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

2016 True Edge Awards: Voting is open until Jan 21!

Now
 

An Afternoon with FIO member Massive l

Elite only
 

Anthony Drager: Pulling the trigger with confidence

Elite only

Leo Murphy: Making sense of Technical Analysis and Random Walk

Elite only
 

FuturesTrader71: Ask Me Anything

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
FXCM vs MB Trading Big Mike Brokers and Data Feeds 16 September 16th, 2011 08:12 AM
NFA fines FXCM $2MM plus orders refunds to customers Big Mike Brokers and Data Feeds 13 August 15th, 2011 03:58 PM
FXCM Strategy Trader ??? xTrader1 Platforms and Indicators 14 July 24th, 2011 09:48 AM
Class Action Lawsuits Filed Against FXCM and FXDD Slack News and Current Events 6 February 17th, 2011 07:48 PM


All times are GMT -4. The time now is 04:28 PM.

no new posts
Page generated 2017-01-18 in 0.14 seconds with 21 queries on phoenix via your IP 54.204.104.49