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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)
 Vendor: www.fxcm.com 
New York
 
Futures Experience: Intermediate
Platform: Strategy Trader
 
Jason Rogers's Avatar
 
Posts: 164 since Aug 2010
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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)
Elite Member
San Jose, Ca
 
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Platform: MetaTrader 4
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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)
 Vendor: www.fxcm.com 
New York
 
Futures Experience: Intermediate
Platform: Strategy Trader
 
Jason Rogers's Avatar
 
Posts: 164 since Aug 2010
Thanks: 122 given, 153 received



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.

Last edited by Jason Rogers; March 11th, 2015 at 06:07 PM.
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  #134 (permalink)
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Futures 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
 
  #135 (permalink)
Elite Member
san diego
 
Futures Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
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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)
Elite Member
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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)
Elite Member
London, England
 
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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

Last edited by chr1s; March 13th, 2015 at 08:41 AM. Reason: tested ver .26
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  #138 (permalink)
 Vendor: www.fxcm.com 
New York
 
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Platform: Strategy Trader
 
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Posts: 164 since Aug 2010
Thanks: 122 given, 153 received


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.

Last edited by Jason Rogers; March 13th, 2015 at 12:41 PM. Reason: fixed typo: changed "Stills" to "As" in last sentence
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  #139 (permalink)
Elite Member
London, England
 
Futures Experience: Beginner
Platform: NT, TOS, MT4
Broker/Data: TOS, CQG (NT), FXCM
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chr1s's Avatar
 
Posts: 439 since Sep 2014
Thanks: 1,673 given, 651 received


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
 
  #140 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: MetaTrader 4
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Joseph689's Avatar
 
Posts: 121 since Sep 2012
Thanks: 113 given, 36 received


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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