FXCM
* FXCM UK offers tax exempt spread betting accounts exclusively to UK residents. Residents of other countries are NOT eligible. Spread betting is not intended for distribution to, or use by any person in any country and jurisdiction where such distribution or use would be contrary to local law or regulation. The UK tax treatment of your financial betting activities depends on your individual circumstances and may be subject to change. Spread Betting accounts offer spread plus mark-up pricing only. Spreads are variable and are subject to delay.
** Cryptocurrency products are only available to Professional and Eligible Counterparty Clients.
Active Trader accounts offers spreads plus mark-up pricing or spreads plus commission pricing depending on your equity level and trading volume.
When executing customers’ trades, FXCM can be compensated in several ways, which include, but are not limited to: spreads, charging fixed lot-based commissions at the open and close of a trade, adding a markup to the spreads it receives from its liquidity providers for certain account types, and adding a markup to rollover, etc.
The UK tax treatment of your financial betting activities depends on your individual circumstances and may be subject to change in the future, or may differ in other jurisdictions.
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
The Trading Signals do not constitute and should not be regarded as an investment advice. You act on the signals entirely at your own risk.
Spreads are variable and are subject to delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays for actions relying on this information.
FXCM
Overall
So you mean FXCM do not charge losing trades, is it? ))
Overall
@iva1977 it's important to note that the spread widening you mentioned did not occur at some random time. It was due to trade rollover which occurs at 5pm New York time every weekday, so it's not unexpected like you are suggesting.
That is the time when one trading day ends, and the next one begins in the global forex market. Banks use this time to refresh their servers as they apply rollover interest to open positions. Some banks will widen their spreads around this time while others stop quoting prices altogether.
http://i.imgur.com/wXuYnXy.png
It's precisely because our prices are determined by what we receive from our liquidity providers, that spreads can widen accordingly at 5pm. As you can see from the tick chart above, this only lasts for a few minutes and is something you can prepare for by being flat at 5pm, or at least not trading with tight stops at that time.
It's worth remembering that on FXCM's No Dealing Desk (NDD) forex execution, whether your stop loss gets hit, or your take profit gets hit, we make the same amount of money from your trading volume, and we do not profit from your losses. In fact, it's in our best interests for you to be profitable, so you can continue trading with us.
Overall
between NY and AU session spread can unexpectedly be expanded in 10 times without any news!!! and will kill your profitable trade, I working with 2 brokers and only with FXCM I got this issue, so , I would recommend you to think at least twice before you will start to work. Spread working against your trade with this broker. From attached screenshot you can see how stop loss has been triggered on and the orders was filled with not the best available price on the market but just with some price proved by FXCM "NDD" ? I showing screenshots from MT4 - FXCM and another global broker I working with, probably you can also check tick history taken from ECN brokers.
Overall
I am trading with FXCM for 6 months. I don't have any issues with them or FXCM trading station, which I prefer to MT4 platform. Other than that I would like to say, that I hope they manage to normalize their future and stay one of the best forex brokers.
Overall
best broker
Overall
Hi Nushakov,
If you're implying that the freezing of your MT4 platform is something deliberate on our part, then you would be mistaken. The fact that the Trading Station Web platform worked for you on the same account is proof of this. However, our tech support team would happy to help you determine the actual cause of the issues you have on MT4.
Below are two recent examples of traders who had problems with MT4 that our tech specialists were able to solve:
- http://bit.ly/1IOWkFV
- http://bit.ly/1as4xEF
I am confident we can help you as well. 😄
It's worth noting that on our No Dealing Desk (NDD) forex execution model, FXCM makes money from your trading volume, so we want you to be able to place your orders. Furthermore, since FXCM offsets each of your orders one-for-one with the best prices from competing liquidity providers, we don't profit from your losses or lose from your profits. Therefore, we want you to be profitable so you will continue trading. I'm to hear you have a good history with us.
In regards to our spreads, it's important to keep in mind that these prices are determined by competition for multiple liquidity providers, and your orders will be filled at the best available. While spreads can widen during news events, this is not specific to FXCM but the reality of trading in markets during volatile times. In fact, the live spread table here on Myfxbook shows that our spreads are very competitive: http://www.myfxbook.com/forex-broker-spreads
Overall
Absolutely disgusting broker. Their MT4 hangs all the time during relatively active market. During news it is just dead!!! Today at FOMC time my MT4 hanged for 7 minutes!!!!!!! 7 minutes!!!! I closed and reopened it few times- it was dead!! After 7 min eventually it started working. Good thing, they have online web trading station, so I logged in quickly and close my deals though not at optimal moment. And if you usually use MT4, this station is not convenient at all, it is just for critical moments, at least to close deals... Also their spreads are high and they are very volatile, jump like crazy. I still have not closed my account because I have some good history and want to show it to potential investors.... I believe with other broker my results would be much more impressive
Overall
@medisoft I'm glad you can now see the Skrill deposit option when you login into MyFXCM.com. You are correct that you must first deposit via Skrill in order to be able to withdraw via Skrill in the future.
Note that the website is still being updated to display the Skrill withdrawal option. If you need to make a Skrill withdrawal before the update is complete, you can still do so by emailing the details of your withdrawal request to [email protected].
Overall
Ok, I see the skrill logo on deposit, and I think I should need to make a deposit with skrill to be able to withdraw with skrill, isn't it?
At the moment I can't see the withdrawal method.
Overall
Please try refreshing the webpage to make sure you're loading the latest information, since Skrill was only added as a deposit option recently. If you still don't see Skrill on MyFXCM.com, then please send me a private message with your account details. I'll check the settings for you.
Overall
My account is on fxcm.co.uk, but I can't see that option....
Overall
When you look at the changes we made to margin requirements, they fall into three different categories: 1. Some of the changes we made were required by regulators, and therefore we had to comply with these changes. 2. When you look at emerging market currencies, the banks and our liquidity providers were raising margin requirements to eliminate any potential risk of large gaps. 3. Previously liquid Western country currencies, like the DKK or CHF, which now carry risk because they are manipulated currencies, have become less liquid.
The emails we sent to our clients with information about the new margin requirements mentioned that these changes may be temporary depending upon market conditions. I'll let you know more information as I receive it in terms of if/when margin requirements may be lowered.
Overall
Note that Skrill deposits are not available to FXCM US accounts. However, if you have an FXCM UK account, then you should see Skrill as a deposit option on MyFXCM.com. If you deposit via Skrill, you can make future withdrawals via Skrill.
Overall
No one doubts you have beaten the retail FX market by a long shot on the new business model structure. The margins are too high now to trade the same amount we need to find 4 x the am amount of money to generate the same volume and amount of pips scalping.
Why would you raise the margins across the board instead of looking at where the clients have the most excessive weighted exposure and adjusting the margins according to risk.
Overall
That's good news, looking for the option in my fxcm page, I can't see it, so there is some problem.
Overall
@medisoft it may please you to know that FXCM now offers non-US clients the option of depositing and withdrawing funds via Skrill. If you deposited $100 via Skrill and made $16 profit, you would then be able to withdraw the full $116 by Skrill.
Overall
True, but withdrawals to debit or credit card is limited to the initial amount charged from it to fund the account. I tested FXCM with $100, won 16%, or $16, and tried to withdraw the $116 after not being happy with your support, and you limited me to only $50.
And using bank wire there is a fee of more than $30, for small accounts that is useless. There are better brokers that offer prepaid debit cards that are a lot better for withdrawing profits for small accounts.
Overall
To be fair you cant beat the raw spreads at FXCM all other STP/ECN brokers claim a lower commission but all the spreads are marked up & NONE of them would advertise a RAW PRICE FEED. That matters a lot in terms of scalp & HFT trading strategies.
I would trade with FXCM again if the margins are back to 200:1 & change margins in a selective manner based on the excessive client weight in a certain currency pair rather than hike the margin across the board.
No complaints about wire deposits and withdrawals they are done in 24 hours sometimes same day.
I could live with a commission of $10 RT per 100k
Overall
@medisoft our clients have access to mutiple withdrawal options via the MyFXCM.com account portal including credit or debit card, bank wire, SEPA and BACS. Was there a particular withdrawal method you were after?
Overall
@EDFx1 below is a spread comparison of US brokers that includes commissions. Click here for the live table: http://www.myfxbook.com/forex-broker-spreads
http://i.imgur.com/3ryMmfv.png
As you can see above, even when you include commissions, FXCM's spreads are very competitive. In regards to trading conditions, on our No Dealing Desk (NDD) forex execution, each of your orders is offset one-for-one with the best prices from multiple competing liquidity providers.
That means FXCM does not profit from your losses or lose from your profits. Instead we make money from your trading volume. Below are the key benefits from our NDD model:
* Anonymous order execution (price providers cannot see your stops, limits, or entry orders)
* No trading conflict of interest between broker and trader
* No re-quotes; no dealer intervention
* No restrictions on the strategy you use (scalp, trade the news, use any EA)
* Potential Price Improvements on all order types: http://bit.ly/16Z5Za2
