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You mentioned you already reached out to NinjaTrader. If you require further assistance, please feel free to send me a private message with your mom's contact details including the email address we have on file for her account application. I am help with the setup of this account from the FXCM side, but don't want you to have to duplicate any steps if NinjaTrader is already following up for you.
If you have questions about our services at FXCM please send me a Private Message.
With Active Trader, a dedicated team guides you to the most useful services at FXCM. Your Relationship Manager (Kevin) can help you find the technologies and custom trading solutions that best suit your needs. You also get a dedicated back-office team to oversee your account, and as you've already noted, one of the benefits of this account type is free bank wire transfers.
If you have questions about our services at FXCM please send me a Private Message.
In fairness, the full text of my previous response addresses your concerns in more detail:
This is not an apples-to-apples comparison. FXCM provides No Dealing Desk (NDD) forex execution to all Standard accounts (5k minimum) and Active Trader accounts (25k minimum). We also provide DD execution to Mini accounts ($50 minimum). This provides new traders with the opportunity to trade FX with a small initial investment that would not be possible with futures. With E-mini Euro FX Futures, the minimum trade size for one contract (62,500 euro) requires you to risk $6.25 per pip. By contrast, FXCM lets you trade one micro lot (1,000 euro) of EUR/USD and risk as little as 10 cents per pip. That's 60 times less than in the futures market.
FXCM is registered with and regulated by the CFTC and NFA, the same bodies that oversee futures trading in the US. In compliance with NFA rules regarding Price Slippage and Price Re-quoting that were finalized in 2012, FXCM LLC provides daily trade reports to the NFA which monitors and supervises FXCM LLC's activity including information on the price where all client orders are filled and the corresponding price where those orders are offset with our liquidity providers.
All of FXCM's global trading entities including FXCM Australia and FXCM UK execute client rolling spot forex transactions as a riskless principal with FXCM LLC, so the same execution standards are applied for all of our clients worldwide. There are no re-quotes at FXCM, and all our clients around the world can benefit from positive slippage whenever it's available. The latest execution stats from January 1, 2015 through March 31, 2016 showed the following:
78.71% of all orders had NO SLIPPAGE.
12.77% of all orders received positive slippage.
8.52% of all orders received negative slippage.
50.2% of all limit and limit entry orders received positive slippage.
39.9% of all stop and stop entry orders received negative slippage.
This includes data from both the DD execution we provide to Mini accounts and the NDD execution we provide to Standard and Active Trader accounts.
With futures and interbank markets, high frequency trading can impact quality of execution. It's a speed race at the institutional level. Institutional customers compete with each other to gain the slightest advantage. ex. HFT’s placing trades in microseconds. This creates a very predatory trading environment where mistakes for liquidity providers are costly. Thus the safer route for liquidity providers is to quote smaller trade sizes at wider prices to manage the risk of being picked off.
By contrast, with FXCM's NDD model, liquidity providers can make more money with a lower risk of being picked off, while at the same time giving better pricing to our retail clients. It's important to understand the mechanics of how trading styles at the institutional level and retail level differ and how this differentiation allows our liquidity providers to offer favorable pricing conditions for FXCM clients.
Our clients receive excellent pricing and execution because liquidity providers are only allowed to be price makers (not price takers) on our retail client stream, and only a retail client can take a price from a liquidity provider. Liquidity Provider A is not able to take a price from Liquidity Provider B through FXCM. This gives our liquidity providers the ability to make a market based on quality of price and liquidity rather than speed to protect against being picked off by predatory trading from other liquidity providers.
If you have questions about our services at FXCM please send me a Private Message.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
Wow that was fast!
Account is totally ready for trading. Completed the wire transfer at my bank today at around 2:00pm Chicago time and the money is there ready to go as of an hour ago (4:45pm CT). As well as all documents being approved.
Ron
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...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Thanks I think the account is almost set up now. We just have to send a wire to fund it.
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My suggestion would be to make some changes so others don't run into the same problem I had. Perhaps the webpage could redirect from FXCM to Ninja Trader. Because right now it's not real clear. Thanks everyone for your help!
Mi recommendation, no enter in the spot Market never. Search in google: forex, spot market, scam, fraud, account audits, the bussines of the brokers of spot market is take the money traders .
I am profesional in advertising and I can only say that analyzing the type of advertising they use, is their intention is to deceive