Hello Jason,

Any information on CFD Trading ?
on FXCM UK site there is CFD link but not much information available.
When FXCM UK is expected to start CFD trading ?

Apart from this let me give my feedback about FXCM since i read lot of negative feedback in some other form, which i feel misleading.

FXCM DailyFX is best forum for News, Analysis, Technical support, and Customer notification, About New NFA rule best video presentation and explanation is available FXCM DailyFX forum. i did not saw any other broker updated there customer with such a nice and clear presentation about changes due to new NFA rules.
Also FXCM provided Option to client who find new NFA rule difficult and want to continue with there old style of trading.
All action taken by FXCM was well informed in advance.

My account got shifted to FXCM UK without any problem.

Regarding Cutomer Appriciation.
FXCM Monthy compitition is best in Industry..Biggest monthy price of 25K USD

People spreading wrong impression as you can't make money with FXCM and you will loose money trading with FXCM.
I do not agree on this. I study and watch monthy compition held by FXCM and when i see how much % people making...it is realy impressive, i saw % gain and top 3 traders statement it's realy impressive. i have last 2 years statement's in my collection.

Other brokers are also runing compitions, i saw there Top traders % gain, and surprise with fact that Top 10 Traders on FXCM are making higest % compare to other brokers Top 10 traders.

Talking On Spread, FXCMMicro offer realy best spread. during news event it can become worst.

Regarding Platform and execution: Platform is very good for taking fast actions. Price panel show what you needed most. for Charting MT4 is best I don't use FXCM Charting since i am more comfortable with MT4, but now FXCM also providing MT4.
Regarding Execution. execution depend on market conditions, most of the time no problem, previously there was platform disconnection problem, but now it is very stable and no problem.

These are all my feedback based on experiance.
I am happy to say FXCM stand 1st on my best Broker's choice list.

Pl reply on CFD Trading information.

Best Regards
Ramdas

FXCM clients have resieved the following email:

Dear Client:

A major new National Futures Association (NFA) rule goes into effect on August 1, 2009. This rule affects all U.S. regulated Forex Dealer Members. Forex traders will no longer have the ability to place stop-loss or limit orders. Nor will traders be able to modify or close trades from the “Open Positions” window. As these features will be removed, all stop-loss and limit orders held on FXCM LLC accounts at the close of trading on July 31, 2009, will be deleted.

FXCM has always encouraged active risk management through the use of stop-loss and limit orders. Stops and limits are two entry orders that are linked to an individual open position. If a stop or limit order is triggered then the other is canceled. FXCM has introduced a new feature called OCO (One Cancels the Other) entry orders, which will provide traders with the same functionality as stop and limit orders except they are not linked to any position. Watch This Video Presentation To See How To Manage Your Risk Using OCO Entry Orders

For additional information, please visit the “NFA FIFO (First in, First Out) Rules” forum on DailyFX. We will be holding live question and answer sessions within the DailyFX forum. Visit Now

The NFA, our industry’s self regulatory organization in the United States, has adopted Compliance Rule 2-43(b). Read Compliance Rule 2-43 (b). This rule requires orders be executed First In, First Out (FIFO). FIFO requires that when multiple positions are held in the same currency pair, the position which was first opened will be the first to be closed. Stop-loss and limit orders do not comply with FIFO.

The NFA’s stance is that FIFO provides more transparency to customers by offering a more accurate picture of the P/L than viewing the results of individual positions. This brings the forex market more in line with the practices of the futures and equities markets.

While FXCM acknowledges the NFA’s concern and obligation to protect clients, FXCM would like to extend an option to those who would like to continue using stop-loss and limit orders, and who understand the underlying implications. Traders can transfer their accounts to Forex Capital Markets Limited (FXCM UK) and continue to place stop-loss and limit orders and maintain the ability to modify and close orders from the “Open Positions” window.

If you wish to maintain your current platform functionality, you can trade through FXCM UK, which is regulated by the Financial Services Authority in the UK. Learn More

If you wish to transfer your trading account to FXCM UK, please complete the one page form. Account Transfer Form

DEADLINE TO COMPLETE TRANSFER FORM: JULY 8, 2009

Important Notice: If you completed the transfer form, your account will be operational prior to the implementation of the new NFA regulations. You will be notified via e-mail when your account is transferred.

Your account number and password will remain the same and your open positions will remain intact. Moving an account to FXCM UK involves some changes in deposit and withdrawal instructions, and changes in charges for transferring funds. However, FXCM UK clients have the option to send funds to a bank in the United States and fund via credit card. MYFXCM.com will also be available.

Deposits | Withdrawals | MYFXCM.com

Best regards,

FXCM Micro
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005

Pls tell me this isn't true

I didn't find that rules in NFA site...I think to eliminate SL and limit order is a fatal rule , because we must watch the monitor all day long , big drawdown will happen when suddenly there's strong market reaction ...we should ask to FXCM regarding this..

===================
Forex Indicators Collection

FXCM has a presentation about it: https://admin.acrobat.com/_a205571165/p91063619/

__________________
New trading system at non-US broker:

Trigg'3dComTrSys @ Alpari-UK

I think that we can replace SL&TP with entry orders unless your tradng an EA and it will make position managment extremely hard but what can we do about limit orders.........if I wanted to trade futures I will just trade futures
You know what..... Brokers outside the US are enjoying all of this.

hi timbecks,

Thanks for the post. We haven't created a micro website for FXCM UK yet, but we're allowing micro accounts to move their account to FXCM UK as well. It will still be a micro account and will fall under FSA regulations. Here is the link to opt-in to move a micro account to FXCM UK </title> <meta name="keywords" content=""> <meta name="description" content=""> <link href="/fxcm_style.css" rel="stylesheet" type="text/css" /> <link href="/nav.css" rel="stylesheet" type="text/css" /> <script type="text/javascript" language="JavaSc

We are not aware of any plans by the FSA, or any of our other regulators, to ban hedging or pass a FIFO rule.

Our CFD products will be starting out with the major products such as indices, oil, gold, etc, but we may add additional products as the main products become established.

cheers,

Jason

-Jason

hi Ramdas,

I appreciate your feedback.

We are in the first stages of releasing CFD's so there's not much information we have available yet. CFD trading is available on live accounts through FXCM UK, but it has to be requested.

We also have demo accounts created for CFD's (not listed on the website). Private message me if you would like a demo for the CFD platform, and I can send one over to you.

Jason

Hi nmx and prasxz,

To clarify about the email we sent out. The stop and limit buttons are being removed from the platform, but you can use entry orders instead to act as stops and limits.

The NFA rule states that the first trade opened for a currency pair, has to be the first trade closed for that currency pair. The way the stop and limit feature is currently setup on our platform, you can add a stop or limit to any position to close in the order you choose. This is not compliant with FIFO.

So what we have had to do is disable the stop/limit buttons, and instead only allow entry orders. Additionally, we are going to add OCO order functionality to the platform the weekend of August 1. That way you can link two entry orders together to act as a stop and limit.

Jason

Notice to FXCM LLC (FXCM U.S.) Traders:
How to use Stops and Limits after July 31

For Immediate Release:
Media Contact: Jaclyn Sales, jsales@fxcm.com

New York―July 6, 2009―FXCM Holdings, has received numerous questions after our first e-mail regarding the new NFA Compliance Rule 2-43(b). Please note that you will be able to use entry orders to place stops and limits after July 31, 2009. Entry orders provide the ability to realize profits and cut losses.
Using entry orders for stop-loss and limits after July 31, 2009:

For Buy Positions: Placing an entry order to sell below the price where you got into the position protects you from additional losses. Placing an entry order to sell above the price where you got in locks in profits.
For example, if you have a BUY EUR/USD position at 1.3900, you could place:
a stop-loss using a sell entry order (Stop Entry, SE) at 1.3800
or
a limit using a sell entry order (Limit Entry, LE) at 1.4000.

For Sell Positions: Placing an entry order to buy above the price where you got in protects you from additional losses. Placing an entry order to buy below the price where you got in locks in profits.
For example, if you have a SELL EUR/USD position at 1.3900, you could place:
a stop-loss using a buy entry order (Stop Entry, SE) at 1.4000
or
a limit using a buy entry order (Limit Entry, LE) at 1.3800.

The National Futures Association (NFA), our industry's self regulatory organization in the United States, has informed all Forex Dealer Members, which includes FXCM, that it has adopted new Compliance Rule 2-43(b) regarding forex trading. Read Compliance Rule 2-43(b) National Futures Association | News Center

This rule requires orders be executed First In, First Out (FIFO). FIFO requires that when multiple positions are held in the same currency pair, the position which was first opened will be the first to be closed. This will prevent stop-loss and limit orders from being placed on individual tickets (orders and positions).

FXCM has always encouraged active risk management through the use of stop-loss and limit orders. The stop and limit orders that have been available through the “Open Positions” window are two entry orders that are linked to an individual open position. If a stop or limit order is triggered, the other is canceled. The FIFO rule prevents stops and limits from being attached to an individual ticket.

FXCM is introducing a new feature called OCO (One Cancels the Other) entry orders, which will provide traders with the same functionality as they have been accustomed, except that they are not linked to any positions. Watch This Video Presentation To See How To Manage Your Risk Using OCO Entry Orders: https://admin.acrobat.com/_a205571165/p91063619/
For additional information, please visit the "NFA FIFO (First in, First Out) Rules" forum on DailyFX. We will be holding live question and answer sessions within the DailyFX forum. NFA FIFO (First in First Out) Rules - DailyFX Forum

Do I have to change my current platform?
While FXCM acknowledges the NFA's concern and obligation to protect clients, FXCM would like to extend an option to those who would like to continue using the current platform functionality. Traders can transfer their accounts to Forex Capital Markets Ltd. (FXCM UK) and continue to place stop-loss and limit orders and maintain the ability to modify and close orders from the "Open Positions" window.

If you wish to maintain your current platform functionality, you can trade through FXCM UK, which is regulated by the Financial Services Authority (FSA) in the United Kingdom.

If you wish to transfer your account to FXCM UK, please complete the one page form:

Standard 10k Account Transfer Form: http://www.fxcm.com/std10k-transfer-form.jsp
Forex System Selector Account Transfer Form: http://www.fxcm.com/fss-hedging-transfer-form.jsp
Micro Account Transfer Form: </title> <meta name="keywords" content=""> <meta name="description" content=""> <link href="/fxcm_style.css" rel="stylesheet" type="text/css" /> <link href="/nav.css" rel="stylesheet" type="text/css" /> <script type="text/javascript" language="JavaSc
MetaTrader 4 Account Transfer Form: http://www.fxcm.com/mt4-hedging-transfer-form.jsp

Deadline to Complete Transfer Form: JULY 21, 2009

Top FXCM UK Frequently Asked Questions:

More FAQs are available on the DailyFX forums: NFA FIFO (First in First Out) Rules - DailyFX Forum

Q: If I switch my account to FXCM UK what protection is available?
A: The FSA is the regulatory body that oversees spot FX trading in the United Kingdom. The market has been regulated in the UK much longer then it has been in the U.S. Accounts with FXCM UK are segregated in accordance with FSA client money rules. The financial services authority, one of the world's most respected financial regulatory bodies, regulates FXCM UK.

Q: How may I deposit funds to my account if it is housed with FXCM UK?
A: FXCM UK provides for bank wire, debit card, credit card, and check deposits and withdrawals. Please note there are different Web site links and funding details associated with accounts at FXCM UK. Visit FXCM - Depositing Funds Options for full details. Please also note clients have the option to hold their accounts in GBP, EUR, USD, JPY, CAD, and NZD. U.S. clients may send domestic wire deposits. FXCM - Depositing Funds Options

Q: Will I be able to place stop-loss and limit orders on individual positions after I transfer to FXCM UK?
A: Yes. All FXCM UK accounts will allow clients to place stops and limits as well as close positions from the "Open Positions" window.
Q: Will hedging be enabled on my account after it is transferred to FXCM UK?
A: Yes. All FXCM UK accounts default to have hedging enabled. That is to say that buy and sell positions will no longer offset each other. Buy and sell positions can now be held on the same account. Clients who wish to have hedging disabled can elect to turn the function off via MyFXCM. https://www.myfxcm.com

Q: Will OCO entry orders be enabled on my account after it is transferred to FXCM UK?
A: Yes. However, if the account does not have hedging enabled the OCO orders executed in the opposing direction of open positions will effectively offset those positions. Conversely, a market order to buy 100K GBP/USD will NOT be offset by an entry order to sell if the account has hedging enabled.

If you have any questions about the new regulations, or their effect on your risk management, please don’t hesitate to contact us at 1-888-503-6739, or e-mail us at info@fxcm.com.

FXCM Holdings LLC Facts
As of January 2009
• FXCM Holdings LLC has over $100 million in capital
• More than 125,000 live accounts are traded on FXCM trading platforms
• An average of $500 billion in notional volume is traded each month on FXCM trading platforms
• In excess of $500 million in customer funds trading on platforms offered by FXCM
Trading FX on margin carries a high level of risk, and may not be suitable for all investors.

Hello all,

After reading all this thread I would like to share my experience with FXCM.

At the begining of this year (2009) I did open a demo acount with FXCM.

Their Trading Station Platform it's very friendly and easy for new people in forex. I did trading demo for 2 months and I was very happy. Them I did open a real mini acount with USD 10.000,00 and I did start trading with 2 minilots per trade.

For my trading method I use Entry Orders usually 10 or more pips away from market price and an average of 50 pips stop loss. I don't trade on fundamentals days and I don't scalp

I was surprised that most of the time my orders where taken with 1/2 or 3/4 pips diference from my entry order price (not in my favor of course).

Them if i did close the trade manually or if i did use a limit price, they did close most of the time my trade up to 3 pips diference (again, not in my favor).

The same hapen with the stop loss, they did close the trades up to 3 pips diference (one more time not in my favor).

During this events I did contact them by they chat and the answer always was "sorry" but this is the best price that we find for your position.

This hapen to me 80% to 85% of the times.

If FXCM it's one of the two bigest FX brokers in the USA they can not liquidate my positions at the price that I did have? NOTE: I was tardeding only with 2 mini lots!!!.

During this time I have a friend that he was trading with FXCM too and he has an open position during a fundamental. I can understand that during this market condition the broker can not liquidate your stop loss a the price that you have at the platform, but what hapen was that during this fundamental the market moved very fast on the first 50 pips, them fast for the next 25 and normal during the rest of the day, and FXCM did liquidate my friend stop loss 183 pips after (and this is not a history i did see it with my eyes because we were together at a trading room). Them he did contact FXCM chat and guess what? We are "sorry"

After this experience I did not trade more than one and a half month with FXCM because i saw that they were not honest with me and i did close my account with them.

My question: Does FXCM UK will have the same practice like USA?


Thank you.

PartyPips

PD: Sorry for my english but it is not my native lenguage