Discussion of the Forex Contest FXCM Forex Contest

This topic is for discussing the Forex Contest.

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 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: https://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. 😄

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..

commission is still high i trade with fxdd the commission is .5 pip per lot and spread is like yours

there are something else you don't support electronic banks

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 :)

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!

Hi Jason,

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

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

Hi,

Is it going to be valid in Canada?

Thank You

Michael

Hi @jasonrogers , I have the new pricing in my FXCM MT4 platform but I have a question about the contest:
The positions will be closed automatically at the end of the contest or every week? In theory I might have a position open from the beginning of the contest until the end, right?

Thank you!

"Good luck to all the competitors!"
 lol😂😂😂😂

1 pip is so high , below 0.6 pip u can start provide competition😉😉

This demo acc could also run on Trading Station right Jason?

Hi there,

I've asked a message with regards to what can be traded exactly???? What instruments?? Are there restrictions on things like Gold and Oil as they move much more than the currencies and I know In a recent competition they restrained it to 1 mini lot oil and gold etc compared to 1 fx lot as Oil and Gold move 10 times as much so it would be fair. Also If you lose a certain percentage on a trade and your position is still open when do FXCM cut it??? Recently a competition had 30£ of your account etc they would cut open positions if you had gone over 30% and your positions were still open then they would cut them. what is the maximum lot sizes you can trade??? Any other rules would be great to know and any restrictions??

Okay GREAT...

PLEASE TELL ME MARGIN CALL LEVEL AND STOP OUT LEVEL. THANKS!
😁

can i use any stretagy or just manual trade on this contest

Please say US Residents can participate! :D Thanks