Shame On Fxcm

Quote from RedDuke:

Once CME/Reuters thing will come live things could be different, but that is yet to be seen.

redduke
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shame we'll have to wait at least another 18 months before it really gets going :(
 
I am using FXCM's platform and so far no problems... For those who had problems just switch to propfx.com which is a currenex-like platform with FXCM (spreads usually 2 pip) and you can scalp all day long. Do not like it ? There is FXCMPRO.com if you have an account above 100,000 USD and volume above 100 Mio. Still not happy ? Check out hotspotfx.com where you can act as a market maker ie. trade inside the spread and post own bids and offers etc. There are many options for us traders.

Please note that ALL of the market makers are trading against you... just read the agreements since they are counterparty in each trade.
 
Quote from RunningTurtle:

I am using FXCM's platform and so far no problems... For those who had problems just switch to propfx.com which is a currenex-like platform with FXCM (spreads usually 2 pip) and you can scalp all day long. Do not like it ? There is FXCMPRO.com if you have an account above 100,000 USD and volume above 100 Mio. Still not happy ? Check out hotspotfx.com where you can act as a market maker ie. trade inside the spread and post own bids and offers etc. There are many options for us traders.

Please note that ALL of the market makers are trading against you... just read the agreements since they are counterparty in each trade.
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FXCM is good for you? Well, looks like you have nothing to compare to. First of all, propfx.com is an access to Currenex via FXCM, but the thing is FXCM adds 1-5 pips on top of Currenex spreads(I have had a direct access to Currenex and an access via FXCM at the same time, and I know the difference) the usual spread on Currenex with direct access is 0-1 pips. Secondly FXCM won't allow you to trade big announcements, they simply switch to manual fills and there is no chance to get a fill on NFP or GDP or any major announcement. So if there is no way to trade the news with FXCM, WHY WOULD ANYONE TRADE WITH 3-5PIP SPREAD DURING USUAL TIMES WHEN YOU CAN TRADE WITH 0.5-1.5 SPREAD WITH MANY OTER FIRMS. WHY! WHY! WHY! PLEASE EXPLANE IT TO ME, I JUST DON'T GET IT.

P.S. Are you are an empathetic person, or a socialist or maybe even a communist? I get it, you think that everyone has to have an equal part of everyone's wealth and giving yours up for the idea.
 
Quote from igor123:

FXCM is good for you? Well, looks like you have nothing to compare to. First of all, propfx.com is an access to Currenex via FXCM, but the thing is FXCM adds 1-5 pips on top of Currenex spreads(I have had a direct access to Currenex and an access via FXCM at the same time, and I know the difference) the usual spread on Currenex with direct access is 0-1 pips. Secondly FXCM won't allow you to trade big announcements, they simply switch to manual fills and there is no chance to get a fill on NFP or GDP or any major announcement. So if there is no way to trade the news with FXCM, WHY WOULD ANYONE TRADE WITH 3-5PIP SPREAD DURING USUAL TIMES WHEN YOU CAN TRADE WITH 0.5-1.5 SPREAD WITH MANY OTER FIRMS. WHY! WHY! WHY! PLEASE EXPLANE IT TO ME, I JUST DON'T GET IT.

P.S. Are you are an empathetic person, or a socialist or maybe even a communist? I get it, you think that everyone has to have an equal part of everyone's wealth and giving yours up for the idea.
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First of all ... as a retail trader you won't get access to Currenex, because you do not have a credit line to connect directly through this bank portal. Please correct me if I am wrong.

Trading through propfx.com has some merits then... as you can't get credit lines you are trading on FXCM's (FXCM is a counterparty in each trade) - this is the reason for a bit wider spreads (usually 2 pips). Of course you can trade NFP and GDP numbers if you use propfx as opposed to their retail platform (trade station2). You should know that if you are really trading. Furthermore if you are not happy with wider spreads then FXCMPRO is a solution (a white-label of Currenex).

Don't like FXCM...there are so many places to go... (Hotspot, GFT, Oanda, IB etc.) all of them have some drawbacks and it is up to you to choose.

You just did not read my post ... I really don't get it why you are calling me a socialist or communist :eek: :D Wonder why would you like the "communist" to explain anything to you. You seem to be so educated (not to mention well-mannered). :)
 
It is not the platforms, it is forex in general. I still did not hear a single valid reason why trading forex (on retail level) is better than currency futures. The only "advantage" is more crosses, but if you know what you do, you can construct pretty much any strategy with using majors.

If one is big enough to trade directly with banks, it is a different story, but we are not talking about it.
 
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