FXCM platform vs MetaTrader

G

GeorgeSoros

As Dynaorder is now offering FX support, I am seriously looking into using it for automated FX trading.

I have downloaded FXCM (1:100, 4 pips on EuroUSD, mini accounts available) platform which only deals with prices and MetaTrader, a competitor open platform with graphs (a kind of mini tradestation).

I like the seriousness of FXCM, but prefer MetaTrader platform (unfortunately I didn't find a good FX broker for MetaTrader with good leverage, and good spreads).

Maybe some of you have worked on the same kind of problem? What do you prefer and why ?
 
Quote from marketsurfer:

george,

futures are the future. why not trade the futures on currencies--- tiny spread and you can pump the data thru tradestation, metastock, etc etc etc.

http://www.cme.com/prd/overview_EC2465.html
best,

surfer
More...

I understand and currently trade the spot FX market. Whenever I try to read up on the futures side of things, I can't find a decent FAQ. Please be so kind to answer these questions for me and for all the other non-futures traders out there. Let's just use the EURUSD for all examples

1) 1 contract is how much underlying value?
2) How much margin do you have to put up for 1 contract?
3) 1 pip = 1 tick = $12.50 is that correct?
4) How much $$ cost in commissions and exchange fees do you typically have to pay?
5) What are the trading hours since it's not 24/5 like spot. How does one trade the active London market (3am EST open)
6) Do you get paid interest (Long Euro) as well as pay interest (Short Euro)
7) Is there liquidity concerns like lock limits?

Thank You in advance for your answers.

DNAJ65000
 
Quote from dnaj65000:

I understand and currently trade the spot FX market. Whenever I try to read up on the futures side of things, I can't find a decent FAQ. Please be so kind to answer these questions for me and for all the other non-futures traders out there. Let's just use the EURUSD for all examples

1) 1 contract is how much underlying value?
2) How much margin do you have to put up for 1 contract?
3) 1 pip = 1 tick = $12.50 is that correct?
4) How much $$ cost in commissions and exchange fees do you typically have to pay?
5) What are the trading hours since it's not 24/5 like spot. How does one trade the active London market (3am EST open)
6) Do you get paid interest (Long Euro) as well as pay interest (Short Euro)
7) Is there liquidity concerns like lock limits?

Thank You in advance for your answers.

DNAJ65000
More...

Hmmmm, you could have easily founnd the answers to all this at cme.com. So for more info: http://www.cme.com/prd/overview_EC2465.html

1) underlying = 125000 USD
2) margin: initial 2498 maint 1850 overnight; with IB from 2:20 PM CET to 8:45 PM CET you need half of this. (i dont know where you live so i used my own hours)
3) yes; it's logical with underlying 125000 USD
4) depends on broker, i pay 2.4 usd with IB per trade, so 4.8 rt
5) Globex is open 23/24, so no problem there, i trade london time, just sit behind your screen and push the right buttons :)
6) the concept of futures is so that the cost of carry (intrest) is calculated into the price of the future, so the price adjusts each day reflecting intrest rate changes over the days. The difference between futures-price and spot is called the basis
7) no

hope this helps, and if now enough people would switch to futures, then at least the money stays among us traders instead of giving this away to those fx-brokers.
:cool:
 
Quote from cvds16:

hope this helps, and if now enough people people would switch to futures, then at least the money stays among us traders instead of giving this away to those fx-brokers.
:cool:
More...

:) Yes, the spread on forex is coming down but the price of futures is still far better, exceptat times when volume is very thin.
 
just found out that FXCM will allow you to stream their data feed thru tradestation for a nominal monthly fee. this is a big plus if you use dealers.

best,

surfer
 
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