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FXCM's Suhail Afzal and Brad Gleason - Ask Me Anything (AMA)
To be honest, I am not sure when it can be expected. We are aware of the issue and working on a solution. Keep in mind that the solution takes time to be resolved, tested and approved by the development team, and there may be unforeseen issues that need to be addressed as well.
Please do feel confident that we are working on a permanent solution, but again, the best choice at this point is to use the HDD platform to save the data locally. Once a solution is in place, you will experience faster data download speeds and the data will be saved locally to NT so you have even faster access.
Thanks again for the post!
Brad
If you have any questions about the products or services provided by FXCM, please send me a Private Message or use the BMT " Ask Me Anything" thread
Can you help answer these questions from other members on NexusFi?
I see the basic account (which should be similar to the demo version, correct?) provides only two days of tick or minute data?
I also assume that because the data is not saved locally, one will always have only two days of intraday data with Ninjatrader, without the HDD?
Is this problem present with Multicharts platform as well ? (data not being saved locally).
FXCM demo and live accounts all have access to each and every historical price that FXCM keeps on file. So does the HDD platform. There’s no limit.
If you use HDD to download data, you can import the data into NT, which it should then realize is local data and NOT require you to download data each time you close/open NT. In summary, it’s a one-time thing to get the data from HDD onto your computer, then into NT. If you don’t use HDD to get the data, you will need to download it every time you open NT (because it’s not yet saved locally).
With Multicharts, I’m not sure if it’s the same issue as NT. I would assume the HDD temporary solution would ‘fix’ the issue with Multicharts, however I don’t know if the long-term solution we have for NT will also apply to Multicharts.
Brad
If you have any questions about the products or services provided by FXCM, please send me a Private Message or use the BMT " Ask Me Anything" thread
I just applied for a minimum account tonight, ready to expand into new markets and excited about a "real" 24 hour market.
I have looked at Alpari as well, and chatting with them through email. I may open more than one account as I test the waters of currency trading. I was initially drawn to Pepperstone, but cannot open a margin account as a US citizen/resident (I forget which, but it is forbidden ).
I actually chose FXCM as the path of least resistance, finding it to be the recommended direction as a user of Sierra Chart, and not wanting to learn / not really liking the demo of MT4.
Can you tell me in the short version why I want to be with FXCM vs other options? Thanks.
Since we are one of the only forex brokers that is a publicly-traded company (NYSE ticker: FXCM), you have access to detailed information about our financials that is not easily available from other forex brokers. It's no secret that the forex brokerage industry has been in the midst of a price war for the past couple of years. That combined with lower trading volumes last year has caused many forex brokers to struggle. There was even a forex broker in Europe that went bankrupt after trying to entice clients with 0 pip spreads. Last year also saw the failure of a US forex broker that had previously touted their razor thin spreads. We've had other forex brokers have to pull out of the US after being unable to meet regulatory capital requirements.
If recent events have taught us anything, it's that the financial stability of the forex broker you choose can have far greater implications than we previously thought. Unfortunately, the vast majority of forex brokers are privately held companies, so it's hard to know the state of their finances. Are they profitable, or are they barely staying afloat? How can you know whether they are safe place to keep your money? Financial transparency is a major reasons why forex traders have entrusted us with $1.190 billion in client funds (as of the latest publicly available data).
FXCM's size also brings with it other advantages such as 24-hour live support, multiple trading platform options and expertise in various areas to support your trading including research, education, trading signals and programming services. Please let me know if you would like more information about any of these areas.
We're glad to have you as our client
Suhail
If you have any questions about the products or services provided by FXCM, please send me a Private Message or use the BMT " Ask Me Anything" thread
Your response was perfect. That was what I wanted to know.
If you have anything to do with helping to get me live on Sierra Chart, that is the only issue I am having now. I did get live in MT4 yesterday, but it is a completely different view than Sierra, and has some functionality antiques as well.
I saw MT5, but that is another story.
And, what is it that allows brokers outside the US to offer insured accounts?
You mentioned in another post that my colleague in our tech support department is now helping you with your charts. Please let me know if there is anything else you'd like me to follow up on in regards to this.
In regards to your question about insurance, some countries have a fund that protects clients of regulated brokers in the event of broker insolvency. For example, in the UK there is the Financial Services Compensation Scheme (FSCS), and in Canada there is the Canadian Investor Protection Fund (CIPF).
Unfortunately, there is no equivalent fund set up in the US for forex and futures brokers. Furthermore, US regulations don't even give forex accounts segregated fund status. That means clients who have forex accounts with an insolvent US broker would be considered unsecured creditors in bankruptcy court. Secured creditors, such as bond holders, get paid out first in bankruptcy proceedings before unsecured creditors can receive any money.
Since US regulations require US residents to trade through a US-regulated broker, the financial strength of the broker you choose becomes that much more important than if you were a non-US resident. That is why FXCM believes in making our financials transparent, so that clients and potential traders know about the performance and health of FXCM as a company.
Suhail
If you have any questions about the products or services provided by FXCM, please send me a Private Message or use the BMT " Ask Me Anything" thread
