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FXCM's Suhail Afzal and Brad Gleason - Ask Me Anything (AMA)


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FXCM's Suhail Afzal and Brad Gleason - Ask Me Anything (AMA)

  #131 (permalink)
 
Jason Rogers's Avatar
 Jason Rogers 
New York
 
Experience: Intermediate
Platform: Strategy Trader
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Joseph689 View Post
Can you please explain the event(s) of 6th of March, around 12:30 as well as further back into the chart; spikes that "appear" to be "stop hunting/harvesting" by FXCM!!??

Hi Joseph,

FXCM provides traders with NDD forex execution. While spreads can widen during news events particularly a major one like Non Farm Payrolls last Friday, it's important to understand what causes that widening and how this differs from dealing desk brokers.

At FXCM, we simply pass on the best prices we receive from competing liquidity providers. That means when spreads widen, it's because banks are widening their spreads. Note that even in that situation, you're still benefiting from the best bid price and the best ask price from those competing providers. Since we don't take the market risk on the other side of your trades, we make the same amount of money from your trading volume whether you exit your trades for a profit or a loss. In fact, we want you to be profitable, so you continue trading with us.

By contrast, with a dealing desk broker, they could be taking the market risk on the other side of your trade. That means a loss for you could be a profit for them, or a profit for you could equal a loss for them. That would incentivize them to widen their spreads to trigger your stops or to prevent your limit/take profit orders from being triggered.

You mentioned that you're currently using a demo account. It's worth noting that if you have a live account with FXCM and have any questions about the execution of a particular trade, you can file a trade inquiry. The Trade Services Team will then be able to investigate in detail and reply back to you with a resolution. If their was an error in our execution that negatively impacted your trade, we would make the appropriate correction to your account.

If you have questions about our services at FXCM please send me a Private Message.
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  #132 (permalink)
 
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 Joseph689 
San Jose, Ca
 
Experience: Beginner
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So, Jason, basically what you are saying is, FXCM and it's liquidity providers are pricing the market where no one else is??!!

  #133 (permalink)
 
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 Jason Rogers 
New York
 
Experience: Intermediate
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Joseph689 View Post
So, Jason, basically what you are saying is, FXCM and it's liquidity providers are pricing the market where no one else is??!!

Hi Joseph,

What I said was that spreads can increase for legitimate reasons during a news event like NFP. At FXCM, we do not profit from client losses on our NDD forex execution, so we have no incentive to hunt stops. We simply pass on the best prices we receive from competing liquidity providers. While I can't investigate individual trades or price ticks here, the Trade Services Team exists for precisely that purpose. Our clients can request an investigation of any trade on their account by filing a trade inquiry. If there was an error in our execution, FXCM will make the appropriate correction.

If you have questions about our services at FXCM please send me a Private Message.
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  #134 (permalink)
 
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 chr1s 
London, England
 
Experience: Beginner
Platform: NT, TOS, MT4
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Jason Rogers View Post
our NDD forex execution

Hi Jason,

just a technicality - can you please confirm that all CFD and spread betting accounts are no dealing desk and all executions are NDD please?

Thank you
Chris

Consistency over time
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  #135 (permalink)
 jodistrict 
san diego
 
Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker: FXCM, Interactive Brokers
Trading: FOREX, IWM, SPY, XLE, NQ
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I tried downloading a demo of FXCM that works with NinjaTrader and so far have been unsuccessful in getting it to connect. The chat help has been useless in providing a solution. Does anyone use FXCM with ninjatrader? How does it work?

  #136 (permalink)
 
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 Joseph689 
San Jose, Ca
 
Experience: Beginner
Platform: MetaTrader 4
Broker: Interactive Brokers
Trading: Forex
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jodistrict View Post
I tried downloading a demo of FXCM that works with NinjaTrader and so far have been unsuccessful in getting it to connect. The chat help has been useless in providing a solution. Does anyone use FXCM with ninjatrader? How does it work?

Try this:

HTML Code:
http://www.ninjatrader.com/ConnectionGuides/FXCM-Connection-Guide.php

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  #137 (permalink)
 
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 chr1s 
London, England
 
Experience: Beginner
Platform: NT, TOS, MT4
Broker: TOS, CQG (NT), FXCM
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Hi @Joseph689, @jodistrict

I found some issues with the latest version .27 - no problems with .25 though (don't know about .26)

--edit--
tested .26 and everything is fine

cheers
Chris

Consistency over time
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  #138 (permalink)
 
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 Jason Rogers 
New York
 
Experience: Intermediate
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chr1s View Post
Hi Jason,

just a technicality - can you please confirm that all CFD and spread betting accounts are no dealing desk and all executions are NDD please?

Thank you
Chris

Hi Chris,

While FXCM offers traders NDD execution for forex, CFD trading (and spread betting on stock indices, metals and energy products) is on DD. We are exploring options to offer NDD for more products in the future, but there is no ETA at this time. As with forex, there are no re-quotes when trading CFDs with FXCM.

If you have questions about our services at FXCM please send me a Private Message.
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  #139 (permalink)
 
chr1s's Avatar
 chr1s 
London, England
 
Experience: Beginner
Platform: NT, TOS, MT4
Broker: TOS, CQG (NT), FXCM
Trading: ES, 6E
Posts: 435 since Sep 2014
Thanks Given: 1,716
Thanks Received: 670


Jason Rogers View Post
Hi Chris,

While FXCM offers traders NDD execution for forex, CFD trading (and spread betting on stock indices, metals and energy products) is on DD. We are exploring options to offer NDD for more products in the future, but there is no ETA at this time. Stills with forex, there are no re-quotes when trading CFDs with FXCM.

Thanks Jason, so in essence any forex currency via anything (including spread betting) is NDD.

Consistency over time
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  #140 (permalink)
 
Joseph689's Avatar
 Joseph689 
San Jose, Ca
 
Experience: Beginner
Platform: MetaTrader 4
Broker: Interactive Brokers
Trading: Forex
Posts: 121 since Sep 2012
Thanks Given: 114
Thanks Received: 40


Jason,

Do the charts follow the "New York close"?

Five daily bars weekly, no Sunday bar?

What time zone are the charts on?

On MT4, does a new daily bar start with the Asian open?

I'm assuming the above replies apply to ATC Broker as well, since they use the same data feed?

Thanks Jason.
Joseph


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