Rating: Full Star Full Star Full Star Full Star Full Star
Forex Contest FXCM
Previous 1 2 3 4 5 .. 70 Next
Staff

Member Since Jul 31, 2009  1352 posts Ethan (Staff) Oct 19 2014 at 13:59
This topic is for discussing the Forex Contest.

jasonrogers

Member Since Aug 12, 2009  270 posts Jason Rogers (jasonrogers) Oct 23 2014 at 17:57 (edited Oct 23 2014 at 18:20 )
Hi Everyone,

I'm FXCM's representative here on Myfxbook and am available to answer your questions.

One question that I anticipate some of you may ask is about the charts on your MT4 platform. In this trading contest, you will be trading on FXCM's new pricing with raw FX spreads and low commissions. Below is an illustration of how this new pricing compares to the old model.



The Bid and Ask prices you see in the Market Watch window of your contest demo account are the best bid and ask prices being quoted from among 10+ competing liquidity providers on our No Dealing Desk (NDD) forex execution. Those are the actual quotes available to you to execute your trades on our new pricing.

However, the MT4 charts still show our old pricing, because many clients on these servers have not yet been upgraded to the new pricing (the transition is being done region by region to ensure we follow regulatory requirements for due notice to traders which vary by regulator, and to ensure an orderly transition within our own system so as not to negatively impact our traders), and the MT4 platform only allows one chart price feed per server.

For example, in the image below you can see there is 0.0 pip raw spread for EUR/USD that you can trade on through FXCM's new pricing. However, the charts still show the old pricing with a spread of 2.2 pips.



Please let me know if you have any questions about this. Good luck to all the competitors!

Jason

jasonrogers

Member Since Aug 12, 2009  270 posts Jason Rogers (jasonrogers) Oct 23 2014 at 21:10 (edited Oct 23 2014 at 21:11 )
jasonrogers posted:
The Bid and Ask prices you see in the Market Watch window of your contest demo account are the best bid and ask prices being quoted from among 10+ competing liquidity providers on our No Dealing Desk (NDD) forex execution. Those are the actual quotes available to you to execute your trades on our new pricing.

However, the MT4 charts still show our old pricing, because many clients on these servers have not yet been upgraded to the new pricing (the transition is being done region by region to ensure we follow regulatory requirements for due notice to traders which vary by regulator, and to ensure an orderly transition within our own system so as not to negatively impact our traders), and the MT4 platform only allows one chart price feed per server.


I just wanted to add that the login details for you contest demo account will work not only on MT4, but also on the Trading Station platform: http://bit.ly/16wW9uc

Unlike with the MT4 charts, you will be able to see our new FX spreads reflected on your Trading Station charts. That said, your trades will always be executed on our new pricing, regardless of which platform you choose. smiley

hanfxphung

Member Since Aug 27, 2014  1 posts Han Phung (hanfxphung) Oct 24 2014 at 08:01
are alberta canada. residents allowed to join? i know that regularly they dont allow me to open live acct. because of where i live. any help tks..

abolila

Member Since Apr 24, 2012  3 posts abolila Oct 24 2014 at 08:02
commission is still high i trade with fxdd the commission is .5 pip per lot and spread is like yours

abolila

Member Since Apr 24, 2012  3 posts abolila Oct 24 2014 at 08:02
there are something else you don't support electronic banks

FxProdz

Member Since Jan 16, 2014  42 posts Massi (FxProdz) Oct 24 2014 at 08:02
My question isn't about the contest but I want to know why FXCM doesn't accept electronic payments such as skrill, neteller etc.....
FXCM is a great broker especially with the new tight spreads, so if you provide different deposit and withdrawal methods it'd be great :)
Good luck for your company and good luck to all participants in this contest :)

Quand on veut on peut
RKSA

Member Since Jul 08, 2014  5 posts RKSA Oct 24 2014 at 08:02
Hi Jason,

Thanks for the info. I have a live FXCM UK account. Will all existing accounts automatically be transitioned to the new spread + commission costs? Do you know when it will happen?

Thanks!

kingalpha

Member Since Aug 23, 2014  2 posts Viet Dang - Axis Partners Ltd (kingalpha) Oct 24 2014 at 08:02
Hi Jason,

Is there a minimum number of trades or volume that contestants must exceed?

psadi

Member Since Jun 13, 2014  22 posts Paulo Sadi (psadi) Oct 24 2014 at 08:03
Hi, Jason.

The FXCM mt4 version 735, has no "signal" tab.

Will not be allowed to receive signals in the contest?

It seems honest, but I need to know.

sincerely,
Paul Sadi
competitive 2132452

Previous 1 2 3 4 5 .. 70 Next
Visitor Arrivals (YoY) (1 day)
Here’s how many hours you have to work t...(2h 5min ago)
EURUSD 1.0557 GBPUSD 1.24587
USDJPY 112.139 USDCAD 1.31001
FxPro

Tools

Community

Reviews

Brokers

Platform

Support


Twitter |  Facebook |  Site Map  |  Terms  |   Privacy Policy
©2014 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.