I didn't even bother to read the attachment in your post, to the topic starter. My appologies, for that. At what time during the day did their platform freeze up on you? Was it during a news release, or was it during normal market hours?

If it was during news releases, then you shouldhave been alot more careful in reading their contract claus before you joined them. If it was during news, then legally. You set yourself up for that one, because their excuses are unlimited, as they were, before you joined them.

Now, if this is during 'normal market' hours, this is highly irregular, especially for FXDD. Did you lose any funds during this timeframes? If so, then typically 9 times out of 10. They will have to reset whatever balance it is that you've lost IF this was during 'normal market' hours.

Also, about news trading.

What's wrong with you people. News trading is only done succesfully on institutional accounts. Dealing Desks, non dealing desks, or "retail", in general. All will get burned, before you don't really get 'direct access' to bank pools, this is simply just a lie. Trade against another retail trader with the same 'borrowed leverage' as you, maybe. But, more than likely. These are the works of a broker. If you really want to trade news releases and do it well, do like the smart traders are doing. Let me tell you just how foolish it is to trade news releases on 'retail accounts'.

First, you have the straddlers. They get burned the most and are at the complete mercy of the broker, even IF the contract states "guaranteed fills" on ALL orders. Now, you have the spike traders. It surely didn't take long for this small piece of an edge to tarnish and deminish into absolutely nothing.

More and more, everyday, a new trading call service for news feeds is opened. Then, more and more, everyday, a news spike trader is burned down to the tip of their account. Don't this seem all strangely odd to you? If someone who gets feeds from Blommberg can't even get filled and if they are filled. The spread itself will kill their profits. Just, what is it about news trading that excites so many of you, so much?

If you wanna trade news the "free way", get in on the breakout. Technicals do amazingly well, as i've been finding out lately over the 15 minutes after spikes. The buyers and the sellers are still wrestling for the retracement, the even bigger one. Plenty of time to get in really accurate BIG profits, but no. Everybody wants to trade the spoof/fake, the initial spike itself.

Which is what brokers want you to do. It's been done for years, if you're a fan of STOCKs, you'd know small things like this. You seriously know that, when brokers start advertising that traders SHOULD start trading news spikes, that definately tells you, right there. That your edge trading days over the news are over and are NOW going to cost you for their benefit.

I used to straddle, back when it was safe and still 'under the radar', now. Unless brokers raise the margin requirements, all of the bluebook tactics will eventually disappear forever. Because, trading at $250 mini account level allows the average newbie to get in with his, or her's $5.00 an hour paycheck, ruioning the tradition of trading, for the rest of us.

The requirements should be raised, margin wise. The minimum shouldbe atleast $5,000. Because, atleast then. Only the serious and the strong survive, also. Things will quiet down, back to the traditional sense of 'trading'.

Save BIGGER funds and look for the cheapest institutional platform you can find, or. Be even smarter, trade a centralized market with a minimal margin requirement, that way you're trading "real lots". Oh, by the way. Market makers and brokers cheat in Futures & STOCKs too. Actually, ten times worse than in forex. This platform freezing thing thou. It's rather petty and pathetic, child's play compared to what real professional brokers and firms are doing to cheat clients in 'other markets'. I supposed there's really no running from it, you just have to take what you can get. But, when you NEVER read the contract, it's DOUBLE for, that's "in your face".

Due Dilliegence, use it until it stops working.

Well, considering that FXDD is a 'dealing desk', what do you expect was going to happen? What does a Casino Dealer do when a player is winning TOO MUCH?

They simply "freeze the table" and start a new one, with a different dealer and a "new set" of rules, with impossible odds. In FXDD's case. Did you read the contract, does it "allow them" to freeze the platform, legally from what was stated?

I hear MIG investments on MSNBC quite a bit after the show the stock market closing, I think i better start looking at them for my forex broker.

__________________
Cheers,

B

Anyone using FXDD?

As of 2 days ago, FXDD put a limit on accounts.
The limit is the number of trades that each account is allowed to place at one time. It has been limited to 50.
They told me it was a "new" feature just put into MT4 and FXDD decided to turn it "on".

I have EAs that place that many trades in 2-3 days.

Everyone that has an account with FXDD has to call and complain, telling them to remove this limitation from MT4. If not, other companies will soon follow suit and then we all have problems in the future with "limitation" they want to place on us!


Use these 2 ways to tell them you are not happy.
Their phone is: 1-212-791-3933
or U.S. Toll-free: 1-866-FOR-FXDD
or email: support@fxdd.com


Thanks

Hi,
50 trades a day or 50 trades at the same time, the same minute ecc.?

Yes, I just talked to them and they told me again only 50 trades open at any given time. If you want to open any more, you need to close some!!

They said something about the CIO is in charge of this. He said something about a "Compliance Officer." Do not who or where these people are located.

So... If you have an FXDD account...
CALL/EMAIL/COMPLAIN !!!



Thanks

I support the cap of 50 simultaneous trades for two main reasons.
#1 If someone has a ton of trades open, they are probably waiting for the bulk of the trades to "turn around". In other words, the trades are loosing, they know it, they aren't doing anything about it because it would mean showing a loss. Some nasty managed account people do this.
#2 If you have a ton of trades open, and the market swings either way then you are probably going to get hurt, really hurt. Probably hurt more than the broker can protect you. Just because you sign the documents and the "Additional Risk Disclosure" doesn't mean you know what you're doing, or that the broker can babysit you.

If someone has a ton of loosing positions open with no stop loss, what happens in a large movement or after enough time? The broker has to do a margin call. This is more than uncomfortable for the broker, it is bad business for the trader and the broker. With all of the 10points3 variants running around, I'd be surprised if the broker didn't need to eat more than the account when the account finally dumped.

I was going to run GridMACD, but it has 30 trades open at once. 30! that is some serious stuff going on, and a lot of margin in use. How much margin does that eat up?!

On to News. I can't think anyone is in their right mind trading News against the broker. They have to fight you or enter the market. If they enter the market, they may not be able to get out. While they *GUARANTEE* execution to you, they actually need to find an *Over The Counter* buyer or seller. Nobody is playing nursemaid to them helping them get rich on 1 super high risk trade per month. When they reduce your risk, it increases their risk. If you want to trade news, go to an ECN. HotspotFX, Currenex, MBTrading, FXAll, take your pick. Don't blame the broker for trying to cover your ass and his at the same time.

FXLQ, IBFX and FXSOL all use the same (shady) clearing bank, Forex Liquidity LLC. http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0196740

FXSOL and IBFX use Forex Liquidity (FXLQ). Velocity 4x appears to be a white label broker for FXLQ but they won't admit to it directly. They use the same marketing materials regarding their connectivity though (claiming a massive pool of 3 banks or something silly that FXLQ spoonfeeds people). 3 banks is NOT the same as 3 retail brokers.
t
FXDD uses a Switzerland based clearing house for liquidity, Tradition Group. They have the same address as Tradition Group's NY office. Here are the main links for research. Tradition Group with Corporate information. (Firefox has issues with this site)

Also please compare the address for this NFA Registration With this address:
Tradition (North America) Inc.
75 Park Place, 4th Floor
10007 New York
United States of America
Phone: 1 212 791 45 00
Fax: 1 212 791 34 41

From their website list of locations in New York.

I think Tradition Group is no small fish considering they invest in developing nations debt, Energy, Metals, Equities, etc and has dozens of offices around the world.

I did a lot of research on FXDD before becoming involved with them. Tom O'Reilly and I have also spoken a number of times, he seems pretty straightforward and he follows through in my experience.

i wanted to know how margin works.
I have a live account with fxdd. bought gbpjyn and scaled down bought again , it went a little down then shot back up but i was stopped out before it went up. in mail i received " dealer closed positions due to stopout".
before i contact them i wanted to know your suggestions.
thank in advance

You made a BIG mistake. Brokers usually close your positions if your free margin drops below 0. Some are allowing the free margin to drop until the margin level reaches 50%.