FXCM MT4 update registration - Page 2

Linuxser · #11 (**permalink**) 07-22-2006, 02:50 AM

Quote:

Originally Posted by EACAN

ValeoFx thanks for the insight i also have live account with them but very new 3 days in total i noted they do lots of requote in news time and sometimes nothing but thanks for the headsup any serious problems i would be running as anybody else would like to have a stable-secure broker once i feel ready to take forex as sole business..

regards
EACAN

I´m not surpised. I have one account with fxsol. Normal execution is faster but I don´t know ONE broker with good perfomance during news releases.
But, they warm you and FXCM don´t do:

http://fxsol.com/spreads_and_margins...ket_policy.asp

I´m not trade the news with any retail broker because it´s impossible.

In the last NFP the quotes in GTS tradestation was frozen during 15min.

fccheah · #12 (**permalink**) 07-28-2006, 01:04 PM

I agree on this, FXCM has fail me several time where I have loose confidence on this platform

rainey75 · #13 (**permalink**) 07-28-2006, 02:05 PM

I agree, I've been trading news with a group within the last few weeks, and you can really see the difference in the brokers at this time. I use FX Sol, but not for trading news - those error messages are annoying and I sometimes have to hit the button again and again before I can get in....dangerous!

Anyway, alot of the other people are having luck with Oanda - fast fills, little slippage. The only cons are the extremely low leverage - 50:1 is the best, but I guess that can be a good or bad thing depending on your perspective.

Also tried MB Trading, which is a commission broker with extremely low spreads (1 pip usually on the EUR/USD). However, got a crappy fill about a week ago (6 second delay cost me on an otherwise profitable trade).
But others say that they have not had such bad luck lately, but why risk it?

From my experience, Oanda is the way to go for news trading, although they are by no means perfect.

~Dex~ · #14 (**permalink**) 07-28-2006, 02:45 PM

The simple truth in the matter is that when news announcements are happening the central banks widen their spreads, so any broker that has guaranteed spreads has no choice but to lock up, requote, slip, what ever. If they are guaranteeing 3 pips and the true spread at central banks is 10 or 12 they have to do something to cover that difference in spread and that's why they will always fail in one way or another in fast markets.
My recommendations: If you have $5,000 US or more look into Interactive Brokers. Their platform is mutifunctional so it's a learning curve and 50.1 leverage. They have low pip spreads but they also charge a comission on trades. My second and preferred choice is OANDA. You can trade from $1 to $10,000,000. Excellent fills in all market conditions. They too only offer 50.1 leverage and their charting is very lacking but it's all about the fills right? I also have a second account with a broker which has MT4 and micro trading so that I have the excellent charting capabilities and I can make small token trades with them just to stay active. Just no trading during active markets with them.

KVincent · #15 (**permalink**) 10-03-2006, 07:58 PM

Interesting post suggests that FXCM may be trying to avoid being held responsible as a referring agent for Refco. Blog post makes interesting reading. If bankruptcy court fails to meet trader demands for restitution, they still may have recourse.

http://nondealingdesktrader.blogspot.com

richx7 · #16 (**permalink**) 10-03-2006, 11:40 PM

Refco update:

Quote:

CURRENCYTRADER September 2006

For a second time, customers of RefcoFX.com had their hopes dashed, as another deal to buy the unregulated forex arm of the bankrupt futures brokerage fell through. Refco and Gain Capital agreed to a deal in July that would have been worth at least $2.5 million and eventually given Refco customers their entire account balances back. The deal fell through in late July, though, with Refco saying in a statement the two sides both agreed to cancel the deal because “they were unable to reach terms on a final asset purchase agreement.” However, deciding on a final price was only part of the issue. According to a Gain Capital spokesperson, the deal was snagged because of a lack of automation on the part of RefcoFX. Gain says Refco customers’ account info wasn’t electroncally updated, forcing Gain to manually look through 17,000 folders if the deal went through. Refco claims it has customer information stored electronically, but admitted it may not have been compatible with Gain’s system. It also said there were other reasons the deal did not go through, but did not give specifics. While RefcoFX.com has been in limbo since its parent company declared bankruptcy in October 2005 and all account balances have been frozen (i.e., no funds can be deposited or withdrawn), customers were still allowed to trade.

However, in late July, Refco informed its forex customers that, “As a result of its inability to enter into a final asset purchase agreement, RFXA[Refco FX Associates] plans to terminate its agreement with FXCM, the company that services RFXA’s Web-based platform as of July 31, 2006. Thereafter, customers will no longer be able to trade on the Refcofx.com web-based platform.” As a result, RefcoFX customers will have to go through the bankruptcy courts to reclaim their money. RFXAtold its clients that it believes they can make a claim for their final account balance (i.e., the amount as of July 31); the bankruptcy court may only allow claims for account balances on the day Refco declared bankruptcy. Ironically, it was FXCM that initially thought it had a deal with Refco for the purchase of the forex accounts. However, their agreement dismantled earlier this year when Refco refused to accept the final offer because it believed it could get a better deal. Many Refco customers were against the Gain deal because it did not immediately free up their assets. In some cases, Refco clients would not be fully reimbursed for more than two years, and only if they maintained a minimal level of trading.

pikachucom · #17 (**permalink**) 11-24-2006, 04:28 AM

Has anyone changed over to FXCM's "No dealing desk" trading yet??

I want to know if it is good for NEWS trading during the big reports, NFP, FOMC, ects.......????

http://www.fxcm.com/spreads-and-marg...aling-desk.jsp

Please post your comments, anyone who has changed over.......all the brokers are now screwing us during news times now with the frakin' spreads!!!!

thanks all

sarama001 · #18 (**permalink**) 11-24-2006, 05:47 AM

I am a newbie with no strategy. I hop in and out of the market anyhow. I should have cleared my account by now, but news trading saved me. Since trading news saved me, FXCM switched me to no desk trading without my approval. I just got an email to tell me that. Now I am scared of trading news or leaving a position open with stop order before news time. if I am in a trade with stop order and news come out, my stop order is ignored and I cannot close the position until like 6 mins later. This has happened to me twice. You cannot even enter the market because a message will say the price has changed even when the quote on your platform did not change. I don't know if it is improving because I could close my posiotn manually when price moved against me last week.

maria77 · #19 (**permalink**) 11-24-2006, 06:07 AM

it's good when there're no econ releases.. it can be as tight as 2 pips for euro/usd and 3 pips for gbp/usd. but when there're major econ releases the spread will widen.. so fixed spread with fxcm as dealer is still better to some who dun like such a volatility when comes to NFP. It depends on how you trade. If you're scalper, no middleman dealer is better.

drgoodvibe · #20 (**permalink**) 11-24-2006, 01:22 PM

Quote:

Originally Posted by maria77

it's good when there're no econ releases.. it can be as tight as 2 pips for euro/usd and 3 pips for gbp/usd. but when there're major econ releases the spread will widen.. so fixed spread with fxcm as dealer is still better to some who dun like such a volatility when comes to NFP. It depends on how you trade. If you're scalper, no middleman dealer is better.

Just trade with OANDA. EURUSD is 1.5Pips, GBPUSD is 2 pips.

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