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Discussion of the Forex Contest FXCM Forex Contest
Member Since Oct 10, 2012
2 posts
Nov 03, 2014 at 20:27
islammanjurul posted:
but one question no one is replying - why the hell the FXCM is deducing lots a lots lots of commission for every trade i make???
you mean " everytrade we make"
because they forget to remove it< as simple as that < as I know everything about dealing desk, all the contestants are in one group called contest , and the dealer just forget to change the setting of our group and remove the commission.
No GLORY for Quitters
forex_trader_202879
Member Since Aug 07, 2014
378 posts
Nov 03, 2014 at 20:33
FXCM thanks for creating a very sub pair contest. The market watch spread is .2 pips for EUR-USD right now, and on the chart it is 4 full pips. I won´t even waste my time placing trade with this broker. Good luck to everyone.
Nov 03, 2014 at 20:56
Yo, cholipop! Do you not read the posts that come from FXCM, explaining why the spread on the chart is different from the spread in the market watch? The market watch quotes are the correct prices. The charts will reflect this at some future date, but not today. Live with it.
Member Since Aug 12, 2009
243 posts
Nov 03, 2014 at 21:08
Cholipop posted:
FXCM thanks for creating a very sub pair contest. The market watch spread is .2 pips for EUR-USD right now, and on the chart it is 4 full pips. I won´t even waste my time placing trade with this broker. Good luck to everyone.
Hi @Cholipop
As @amelabs mentioned, this was explained in the second post on the thread, but to reiterate:
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!
Member Since Aug 12, 2009
243 posts
Nov 03, 2014 at 21:14
goldgod posted:
XAG/USD SYMBOL NOT WORKING.😳
@goldgod
What volume are you trying to trade? XAG/USD is traded in volume increments of 50. For example, 50, 100, 150, etc. If you volume is not in an increment of 50, then the Sell/Buy buttons in the order window will not activate.
forex_trader_202879
Member Since Aug 07, 2014
378 posts
Nov 03, 2014 at 21:20
amelabs posted:
Yo, cholipop! Do you not read the posts that come from FXCM, explaining why the spread on the chart is different from the spread in the market watch? The market watch quotes are the correct prices. The charts will reflect this at some future date, but not today. Live with it.
Well that isn´t something that I am use to as with my ecn broker both the market watch and what the chart reflects are the same.
Member Since Aug 12, 2009
243 posts
Nov 03, 2014 at 21:21
SBCapital posted:
Is there max lot size rules? Its all well and good trading 50 lots but if your disqualified for the rules then whats the point. So what is the rules on lots ize? or is it purely whoever can trade the most money wins?
@SBCapital
Please see the official contest rules http://www.myfxbook.com/contests/forex-contest-fxcm/25/rules. There is no disqualification rule based on lot size.
Jason
Member Since Aug 12, 2009
243 posts
Nov 03, 2014 at 21:22
duartero posted:
Is their a reason no symbols are showing in my dealing rates??
If you're not seeing any symbols in the Market Watch window, right click anywhere over the window and select "Show All" in the menu. This will display all symbols available for trading.
Jason
Member Since Aug 15, 2014
2 posts
Nov 03, 2014 at 21:32
Please help I am loading my profit and there are withdrawing from my profit and closing my order
Member Since Aug 12, 2009
243 posts
Nov 03, 2014 at 21:43
(edited Nov 03, 2014 at 21:44)
islammanjurul posted:
@jasonrogers brother, can you please tell me why I am getting lots of commission deductions, any clue?
Hi @islammanjurul
FXCM's compensation used to be included as a part of the spread. With our new pricing model, you can now trade on the raw FX spreads directly from 10+ liquidity providers and our compensation is the transparent commission. Our new forex pricing reduces the EUR/USD transaction cost by up to 60% compared to previous typical spreads.
Raw FX spreads also have the added benefit that the market does not have to move as much in your favor to fill your limit (take profit) orders, because there is no pip markup to the bid and ask prices displayed on your platform. For the same reason, the market would have to move about a pip further before your stops gets triggered.
Nov 03, 2014 at 22:27
I think the confusion with the commissions is because normally, the account history will show commissions in the same line as the trade that the commission was taken from. For some reason, FXCM is withdrawing half of the commission from your account when you place a trade, and the other half when you close the trade. So now instead of 1, there are 3 transactions in your history for each trade you place. 1) commission withdrawn when trade is opened. 2) trade information at close. 3) commission withdrawn at close.
Member Since May 11, 2010
1 posts
Nov 04, 2014 at 00:26
The Contest already started?
Member Since Nov 30, 2011
41 posts
Nov 04, 2014 at 06:47
what is this for commission, sometimes 6 USD somethimes 4 USD for one Lot, and on Top, 2 times commission for the same order
great, No reference for trade in Live here !!!
great, No reference for trade in Live here !!!
Attachments:
Klein Anfangen und dann ganz gross werden
Nov 04, 2014 at 07:51
islammanjurul posted:
@jasonrogers brother, can you please tell me why I am getting lots of commission deductions, any clue?
Broker charge for opening and for closing position. Many brokers do not show the card. This shows all the payment broker for trading.
Member Since Oct 06, 2014
14 posts
Nov 04, 2014 at 07:51
I can't place a trade....platform isnt working. i thought the competition has started.
Anyone facing the same thng?..... any solutions?
Anyone facing the same thng?..... any solutions?
In trading the market is the BOSS - where it goes you follow
