jasonrogers's Posts - Page 3

Oanda versus FXCM in General Feb 10, 2015 at 23:28

As a regulated broker we are required to notify our regulators in a timely manner when any event occurs that may be deemed sensitive to clients. When we notified the regulators, they required FXCM Inc.’s regulated entities to supplement their respective net capital on an expedited basis.We explored multiple debt and equity financing alternatives in an effort to meet the regulator’s deadline. The deal we ended up doing with Leucadia was the only deal that could and would happen in the very short timeframe we were given by the regulators. The CEO and the president of Leucadia were he...

Oanda versus FXCM in General Feb 10, 2015 at 23:27

Many people traded EUR/CHF with FXCM, because we are a no dealing-desk broker and offset each trade one-for-one with our liquidity providers, and only make money on trades not customer losses. We published a study a few years ago called “traits of successful traders” that looked at FXCM traders over a long period of time and their general behavior to find what was destructive behavior to stay away from and what worked for clients.The study focuses on what the majority of profitable traders did to increase their odds of success. What the study found was that traders who traded durin...

Oanda versus FXCM in General Feb 10, 2015 at 23:25

At the time of the SNB announcement over 3,000 FXCM clients held slightly over $1 billion in open positions on EUR/CHF. Those same clients held approximately $80 million of collateral in their accounts. This was the largest move of a major currency since currencies started floating 1971.The EUR/CHF move was 44 standard deviation moves, while most risk management systems only contemplate 3-6 standard deviations. The moved wiped out those clients’ account equity as well as generated negative equity balances owed to FXCM of over $225 million. We believe that the FXCM system operated properl...

Oanda versus FXCM in General Feb 09, 2015 at 22:32

@fx_book I'm glad you like FXCM's Trading Station platform and charts. 😄It's worth noting that the reason our minimum trade size is 1 micro lot (about 10 cents per pip) is because that's the smallest order that can be offset using No Dealing Desk (NDD) forex execution. While dealing desk brokers can accept smaller order sizes, it's because they take the market risk on the other side of your trades. That means a loss for your could mean a profit for them, or that a profit for you could mean a loss for them.On the NDD model, FXCM does not take a market position, elimi...

Oanda versus FXCM in General Jan 08, 2015 at 00:39

Thanks for the clarification. Here's hoping those adjustments do the trick for you!

Oanda versus FXCM in General Jan 07, 2015 at 01:09

@evolutioncapital I'm not sure I understand your comment about being eaten alive by commissions. They are just one part of your total transaction costs along with the spread. You said your current broker has a 1.1 spread on EUR/USD and 30 cent round turn commission. That would add up to $1.40 in total transaction costs. FXCM's average EUR/USD spread is 0.2 pips which when combined with 80 cent round turn commissions adds up to $1.00 in total transaction costs. You can confirm this on the live spread table here on Myfxbook: http://www.myfxbook.com/forex-broker-spreads

Where can I learn to code EA's? in Programming Dec 18, 2014 at 23:03

@fxdimarion you can find resources on both FxProgrammers.com and FxCodeBase.com in the sections on the Indicator SDK for FXCM Trading Station's Marketscope charts.

Simple Lua Indicator in Programming Dec 18, 2014 at 22:49

@fxdimarion while I'm not a programmer myself, you can find resources on both FxProgrammers.com and FxCodeBase.com in the sections on the Indicator SDK for FXCM Trading Station's Marketscope charts.

FXCM in Brokers Dec 18, 2014 at 22:43

@Fox123 is there any particular reason you say that?

High Risk - QB Pro in Trading Systems Dec 18, 2014 at 22:32

Yes, that's right 😄

High Risk - QB Pro in Trading Systems Dec 18, 2014 at 22:16

@Eric1704 It's my pleasure. Just to clarify though, the GMT offset is +2 as stated in the email you received. We can't automatically change the GMT offset settings on your EAs/indicators. As you have noted, some indicators don't even have a GMT offset field. However, if an indicator does have a GMT offset field, then you will want to make sure it's set to +2.

High Risk - QB Pro in Trading Systems Dec 18, 2014 at 19:51

@Eric1704 you are correct in saying that when it's 5pm New York Time then it's 10pm GMT. However, the GMT offset must be +2 (not -2) because the MT4 daily chart bars begin at midnight server time, and you must add (not subtract) 2 hours at 10pm GMT to get to midnight.I'm glad to hear that Shaun is setting you up with a new version with an input for the GMT offset. 😄

High Risk - QB Pro in Trading Systems Dec 18, 2014 at 01:55

@Eric1704 the new GMT offset on your FXCM MT4 server is GMT+2 not -2. This means your MT4 chart bars are now in sync with the 5pm New York Close, so you have 5 daily candles per week, instead of an extra Sunday candle. If you update the GMT offset field on your indicators/EAs to +2, then they should work.

Oanda versus FXCM in General Dec 17, 2014 at 23:36

@evolutioncapital below is a spread comparison of US brokers that includes commissions. Click here for the live table: http://www.myfxbook.com/forex-broker-spreadshttp://i.imgur.com/Cb1zFRz.pngAs you can see above, even when you include commissions, FXCM's spreads are very competitive. Furthermore, on our No Dealing Desk (NDD) forex execution model, we make money off your trading volume, not your losses. This business model means that scalpers are some of our best clients because of the trading volume they generate. If your monthly volume exceeds 50M notional, you can qualify for discounts...

Oanda versus FXCM in General Dec 17, 2014 at 23:28

@wlk1 there is a special application you would have to complete. If you send me a private message with your contact details, I can have an account specialist follow up with you regarding this.

Oanda versus FXCM in General Dec 16, 2014 at 22:42

@theHand You make a fair point about trade sizes. The minimum trade size with FXCM is 1 micro lot (10 cents per pip), since that's the smallest amount that can be offset one-for-one with liquidity providers on No Dealing Desk (NDD) forex execution.However, you mentioned that you prefer brokers in Asia and Australia, so you might still be interested to know that FXCM is regulated in Japan, Hong Kong and Australia

Oanda versus FXCM in General Dec 12, 2014 at 14:31

@theHand You make a fair point. Our minimum trade size is 1 micro lot (10 cents per pip) which may not be suitable for smaller account balances. That's why the minimum to open an FXCM account is $2000. However, there is an important reason for these minimums.A micro lot (equivalent to 1000 currency units) is the smallest trade size that can be offset immediately with the liquidity providers on our No Dealing Desk (NDD) forex execution. A smaller trade size would require us to take the market risk on the other side of client trades. That's a conflict of interest FXCM would rather avoid....

Oanda versus FXCM in General Dec 11, 2014 at 16:53

Hi @theHand FXCM is a publicly traded company so you can see our financial data and compare over time using the financial reports found at http://ir.fxcm.com . Our ticker symbol on the New York Stock Exchange is FXCM. As of our latest 10-Q filing from November, FXCM had $326 million in cash. Our clients held roughly $1.3 billion in their accounts, and the operating metrics release this past Tuesday showed there were 188,740 active accounts during the month of November.Jason

Oanda versus FXCM in General Dec 11, 2014 at 16:43

Not necessarily. A broker acting as the market maker aggregates clients orders and MAY offset those positions thereby hedging the trades and eliminating the conflict of interest. It’s the broker’s choice whether to hedge the positions. If any positions are not hedged, it leaves open the potential for conflict of interest.You may ask yourself: ‘Isn’t a market maker simply trying to capture the spread?’ In order for this to happen the buy and sell order volume has to be equal at all times in order to capture the spread perfectly. If you take a look at direction...

Oanda versus FXCM in General Dec 10, 2014 at 21:03

You can find unbiased comparison data right here on Myfxbook. Below is a spread comparison of US brokers that includes commissions. Click here for the live table: http://www.myfxbook.com/forex-broker-spreadshttp://i.imgur.com/Cb1zFRz.pngAs you can see above, even when you include commissions, FXCM's spreads are very competitive. Aside from low transaction costs, there are other advantages to our pricing model.1. Transparency: With our raw FX spreads and transparent commissions, you know the exact amount FXCM charges you to place a trade.This model is similar to what you find in equities an...

EURUSD	1.13683	GBPUSD	1.33685	AUDUSD	0.63901
USDJPY	142.905	USDCAD	1.38391	USDCHF	0.82575

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