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FXCM Trading Service thru SierraChart
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FXCM Trading Service thru SierraChart

  #1 (permalink)
Elite Member
Los Angeles, California Republic
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES, Mongolian Horse Futures
 
srgtroy's Avatar
 
Posts: 1,456 since Jan 2011
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FXCM Trading Service thru SierraChart

Has anybody opened an FXCM account through SierraChart? With a minimum of $2000, you can get "raw active trader spreads +1 pip".

FXCM Trading Service - Sierra Chart

The problem is there is no way to demo the account, so I can't tell exactly how the transaction costs will resolve.

Anybody trading FX thru Sierra Chart/FXCM? I would love to know your thoughts about it in general and what kind of spreads you are actually getting. Thanks!

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  #3 (permalink)
 Vendor: www.fxcm.com 
New York
 
Futures Experience: Intermediate
Platform: Strategy Trader
 
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srgtroy View Post
Has anybody opened an FXCM account through SierraChart? With a minimum of $2000, you can get "raw active trader spreads +1 pip".

FXCM Trading Service - Sierra Chart

The problem is there is no way to demo the account, so I can't tell exactly how the transaction costs will resolve.

Anybody trading FX thru Sierra Chart/FXCM? I would love to know your thoughts about it in general and what kind of spreads you are actually getting. Thanks!

If you register for a free Active Trader demo on the FXCM website, you can see the live spreads that would be available on an Active Trader account. The prices on an FXCM account set up through Sierra Charts would have a half pip markup on both the bid and ask prices. For example, suppose the bid and ask prices for EUR/USD on Active Trader were 1.35000 and 1.35005 respectively. That means the Active Trader spread is 0.5 pips. At the same moment in time, on an FXCM account with Sierra Charts, the bid and ask prices would be 1.34995 and 1.35010 respectively for a 1.5 pip spread.

If you have questions about our services at FXCM please send me a Private Message.
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  #4 (permalink)
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Futures Experience: Beginner
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You can get FXCM data in the SC trial. Forex only for Americans though.
I'm trading live FXCM account and it's connection in SC is good; however, I like my NT chart setups better and plan to get live NT licence.

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  #5 (permalink)
Elite Member
Los Angeles, California Republic
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES, Mongolian Horse Futures
 
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Posts: 1,456 since Jan 2011
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@Jason Rogers

Thanks for your reply. If I use USD/JPY as an example, on your website, its says the spread for a normal account is 1.6. For an active trader account, the spread is 0.6. If Sierra Chart is saying they give Active Trader spreads +1 pip, that means, in effect, that for USD/JPY, the spread through them would be 0.6 + 1 = 1.6 pips, which is the same spread as a normal account, which means, in effect, that they really aren't offering a better spread by signing up through them. Is this correct?

I'm just trying to work this out, not trying to cause any trouble here.

Thanks!

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  #6 (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


srgtroy View Post
@Jason Rogers

Thanks for your reply. If I use USD/JPY as an example, on your website, its says the spread for a normal account is 1.6. For an active trader account, the spread is 0.6. If Sierra Chart is saying they give Active Trader spreads +1 pip, that means, in effect, that for USD/JPY, the spread through them would be 0.6 + 1 = 1.6 pips, which is the same spread as a normal account, which means, in effect, that they really aren't offering a better spread by signing up through them. Is this correct?

I'm just trying to work this out, not trying to cause any trouble here.

Thanks!

Great question! It's important to note that for retail traders, FXCM offers two forex execution options: No Dealing Desk (NDD) and Dealing Desk (DD). While FXCM believes that NDD execution provides the best all-around trading experience, we also offer dealing desk execution as an option for traders whose primary concern is low spreads.

On DD execution, we can create the prices on which you trade, allowing us to offer spreads for FXCM's 12 most popular currency pairs that may be up to one pip lower than those provided by the NDD model. So for example, you might see a 2.6 pip spread for USD/JPY on NDD execution at the same time there is a 1.6 pip spread on the DD model.

Active Trader pricing is intended for high volume traders and provides both the benefits of tight spreads and NDD execution. That means even with the 1 pip markup added to a 0.6 pip Active Trader spread, if you open an account through Sierra Charts, you can get pricing similar to accounts on the DD model, but with the added benefit of NDD execution.

If you have questions about our services at FXCM please send me a Private Message.
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  #7 (permalink)
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Platform: Sierra Chart
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Posts: 1,456 since Jan 2011
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Great Answer!

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