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Updated February 7, 2017
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August 18th, 2016, 01:36 PM
white plains new york
Posts: 66 since Apr 2016
IzhakHaim
No reply from FXCM for 2 days...?
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
August 18th, 2016, 02:32 PM
Manta, Ecuador
Site Administrator Developer Swing Trader
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,621 since Jun 2009
Thanks Given: 33,356
Thanks Received: 101,989
IzhakHaim
No reply from FXCM for 2 days...?
Stop pestering him. They reply, or they don't. Either way you have your answer
Sent from my phone
August 18th, 2016, 03:14 PM
Portland, Oregon
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,189 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695
IzhakHaim
No reply from FXCM for 2 days...?
Also it helps to actually mention the person you are wanting a reply from. @Jason Rogers
August 18th, 2016, 07:58 PM
New York
Experience: Intermediate
Platform: Strategy Trader
Posts: 166 since Aug 2010
Thanks Given: 122
Thanks Received: 153
IzhakHaim
So with accounts less than $5K, you are taking the other side of the trade-meaning you are the counter party, therefore we trade against FXCM and our limit orders/SL,TP are all exposed to your trading desk, correct?
That is correct.
For Mini accounts, we provide dealing desk (DD) execution. On the DD model, we will face market risk as a result of entering into trades with clients. Because of this risk, FXCM needs to implement certain restrictions during news events. The typical 2-5 pip minimum distance from current market rate for stop and limit orders on DD accounts could increase to upwards of 10 pips . Note that No Dealing Desk (NDD ) accounts with FXCM have no such restrictions regarding order placement.
Additionally, we may take steps to mitigate the risk arising from market making more effectively by transferring your underlying account to our NDD offering. For example, Mini accounts with equity greater than 20k are automatically converted to Standard accounts with NDD execution.
That means, we don't have to resort to the dealer intervention practices (re-quotes and excessive spread widening particularly during news events) which can occur with DD-only brokers, and you can have confidence in trading your FXCM account regardless of the account type you choose.
If you have questions about our services at FXCM please send me a Private Message.
August 18th, 2016, 08:07 PM
New York
Experience: Intermediate
Platform: Strategy Trader
Posts: 166 since Aug 2010
Thanks Given: 122
Thanks Received: 153
sledmt
With his question, I was wondering how the
slippage compares between the
NDD and DD. Also, how close is the ask
bid price between the NDD and DD?
While I don't have a stats comparing slippage between NDD and DD, below are our overall stats regarding positive and negative slippage :
78.71% of all orders had NO SLIPPAGE.
12.77% of all orders received positive slippage.
8.52% of all orders received negative slippage.
50.02% of all limit and limit entry orders received positive slippage.
39.9% of all stop and stop entry orders received negative slippage.
Our Standard and Active Trader accounts have raw FX spreads , because we charge a separate commission.
Our Mini accounts have all-inclusive spreads with no commissions.
If you have questions about our services at FXCM please send me a Private Message.
August 18th, 2016, 08:13 PM
New York
Experience: Intermediate
Platform: Strategy Trader
Posts: 166 since Aug 2010
Thanks Given: 122
Thanks Received: 153
sledmt
Adding to the question about
slippage , I was reading in your documentation about "Market
Range " feature. This sounds like a great way to limit your slippage when entering a trade. Does this feature work in the DD (mini account)?
Yes it does! In addition to the Market [AUTOLINK]Range[/AUTOLINK] feature for market orders, we have a Range Entry for entry orders. These tools allow you to specify how much negative slippage you are willing to accept on an order.
If the order cannot be filled within your slippage tolerance, then the order will be canceled to protect you from unwanted negative slippage. Note these tools only limit your negative slippage, not your positive slippage.
If you have questions about our services at FXCM please send me a Private Message.
August 19th, 2016, 05:53 PM
Kalispell montana
Posts: 158 since Jan 2015
Thanks Given: 157
Thanks Received: 23
Jason Rogers
That is correct.
For Mini accounts, we provide
dealing desk (DD) execution. On the DD model, we will face market risk as a result of entering into trades with clients. Because of this risk, FXCM needs to implement certain restrictions during news events. The typical 2-5
pip minimum distance from current market rate for stop and limit orders on DD accounts could increase to upwards of 10
pips . Note that
No Dealing Desk (
NDD ) accounts with FXCM have no such restrictions regarding order placement.
Additionally, we may take steps to mitigate the risk arising from market making more effectively by transferring your underlying account to our NDD offering. For example, Mini accounts with equity greater than 20k are automatically converted to Standard accounts with NDD execution.
That means, we don't have to resort to the dealer intervention practices (re-quotes and excessive spread widening particularly during news events) which can occur with DD-only brokers, and you can have confidence in trading your FXCM account regardless of the account type you choose.
Thanks Jason for the info. Is the 2-5 pip up to 10 pip just for new events?
August 19th, 2016, 05:59 PM
Kalispell montana
Posts: 158 since Jan 2015
Thanks Given: 157
Thanks Received: 23
Jason Rogers
While I don't have a stats comparing
slippage between
NDD and DD, below are our overall stats regarding
positive and negative slippage :
78.71% of all orders had NO SLIPPAGE.
12.77% of all orders received positive slippage.
8.52% of all orders received negative slippage.
50.02% of all limit and limit entry orders received positive slippage.
39.9% of all stop and stop entry orders received negative slippage.
Our Standard and Active Trader accounts have
raw FX spreads , because we charge a separate commission.
Our Mini accounts have
all-inclusive spreads with no commissions.
Thanks for the stats @Jason Rogers
By chance, do you know the ratio account types?
August 19th, 2016, 06:02 PM
Kalispell montana
Posts: 158 since Jan 2015
Thanks Given: 157
Thanks Received: 23
Jason Rogers
Yes it does! In addition to the
Market [AUTOLINK]Range[/AUTOLINK] feature for market orders, we have a
Range Entry for entry orders. These tools allow you to specify how much negative
slippage you are willing to accept on an order.
If the order cannot be filled within your slippage tolerance, then the order will be canceled to protect you from unwanted negative slippage. Note these tools only limit your negative slippage, not your positive slippage.
Thanks @Jason Rogers
this sounds like it would protect a trader from big slippage. Will take a closer look at this feature.
August 19th, 2016, 06:07 PM
Kalispell montana
Posts: 158 since Jan 2015
Thanks Given: 157
Thanks Received: 23
Jason Rogers
That is correct.
For Mini accounts, we provide
dealing desk (DD) execution. On the DD model, we will face market risk as a result of entering into trades with clients. Because of this risk, FXCM needs to implement certain restrictions during news events. The typical 2-5
pip minimum distance from current market rate for stop and limit orders on DD accounts could increase to upwards of 10
pips . Note that
No Dealing Desk (
NDD ) accounts with FXCM have no such restrictions regarding order placement.
Somewhat unclear about your information above. During new events the DD is performing some level of re-quoting to the customer?
Quoting
Additionally, we may take steps to mitigate the risk arising from market making more effectively by transferring your underlying account to our NDD offering. For example, Mini accounts with equity greater than 20k are automatically converted to Standard accounts with NDD execution.
Does FXCM ever change an account from mini to standard for other reasons other than dollars amount?
Last Updated on February 7, 2017