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FXCM sets up shop locally

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tayser

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Got this email last night.

Dear Client:

This is an important e-mail notifying you of changes that apply to FXCM’s Australian clients. Our goal is to provide you with local support and local regulatory protection.

We are happy to announce the launch of FXCM Australia Limited which continues to provide live 24-7 client support, with the additional benefits associated with local presence. Our office is situated in the heart of Sydney's central business district:

FXCM Australia Limited
Level 14, 309 Kent Street
Sydney NSW 2000
fxcmaustralia@fxcm.com

FXCM Australia Limited holds an Australian Financial Services License (AFSL# 309763) issued by the Australian Securities and Investment Commission (ASIC) (ARBN# 121 934 432).*

All clients residing in Australia must have an account under FXCM Australia Limited.

What Will Happen to My Account?

In order to provide you with local service and local regulatory protection, your account will be transferred from FXCM LLC (NFA# 0308179) to FXCM Australia Limited (ASIC, AFSL# 309763). The account transition is scheduled to occur at the end of Saturday, April 4, 2009.

Please read, understand, and agree to the following:

* Terms of Business
* Product Disclosure Statement
* Financial Services Guide

IMPORTANT: Your trading account and log-in details will remain unchanged, and your open trades will not be affected by the transition to FXCM Australia.

The transfer of your account to FXCM Australia is not required. Unfortunately, however, if you choose not to transfer, we must close your account. Should this be the case, please contact our Sydney office at 1800 109 751 (Freecall) or e-mail fxcmaustralia@fxcm.com and include your account number.

Please note that failure to respond by April 1, 2009, will result in the moving of your account to FXCM Australia.

How Will FXCM Australia Benefit Me?

* Your account will be regulated and protected under the supervision of the Australian Securities and Investments Commission.
* Your account funds will be segregated, in accordance with Australian client money rules.
* You can deposit funds in Australian or New Zealand dollars.
* You can consult with FXCM specialists on-site, and attend live seminars.

As client accounts are transferred to FXCM Australia, we will keep you informed of new developments and services to aid your trading experience.

In the meantime, if you have any questions about your account, or the new services, please do not hesitate to contact us. As always, client support is available 24 hours a day, 7 days a week.

We look forward to serving you.

Best regards,

FXCM Australia Limited
Level 14, 309 Kent Street
Sydney NSW 2000, Australia
Australia Freecall: 1800 109 751
New Zealand Freecall: 0800 450 331
fxcmaustralia@fxcm.com
www.fxcm.com.au
 


no MT4 for us aussies yet and they will offer CFD's but no release date as of yet for em.

I saw the platform they have on offer looks great in the midnight color!

what is a a pain in the ass any aussie with a US account has been moved to aust office. Hence u lose MT4 if u had it.

see how they go...
 
Just had a quick chat to someone on their free call number. Sounds good. They are happy with and actually encourage scalpers as there is no dealing desk so they are in it for the spread they collect. They do not offer micro lots and start at mini lots.

I'm still doing screen time, been at it for about 4 weeks now and will spend another 2 or 3 months before I go live. FXCM are looking like a good choice at the moment.

I asked him about MT4 and he said that it will be available in 3 to 4 weeks.
 

fantastic!!

they told me that mt4 wasnt on their plans in the short term.

obviously there was enough demand for it!

stoked!!
 
derty said:
I asked him about MT4 and he said that it will be available in 3 to 4 weeks.
Click to expand...

Just been perusing their site and see nothing about Metatrader 4.

I think they could simplify the withdrawal process which is via application form. I prefer electronic as per online banking.
 
I am supposed to be getting emailed when they offer MT4. I will let you guys know ASAP as I am looking forward to using it.
 
Another alternative is now available.

FXCMAustralia On: 12 May, 2009 1:48 PM

FXCM Australia now offers MetaTrader 4 with FXCM's No Dealing Desk execution.

- Accounts available AUD and USD
- $2000 account opening minimum
- Click below to open your account
Click to expand...
 
Re: FXCM Australia now with MT4 Live and Demo Accounts

FXCM Now Offers MT4 Live and Demo Accounts

FXCM Australia announced that the FXCM MetaTrader4 demo, powered by Boston Technologies, is now available. FXCM has joined together with Boston Technologies to enhance FXCM’s MT4 offering.

Why Trade on MetaTrader 4 with FXCM?
• MetaTrader 4 is integrated with FXCM's No Dealing Desk execution that means no re-quotes
• Hedging capabilities through MT4
• Trade directly from the charts
• Spreads as low as 1 pip EUR/USD
• Accepting all EAs, including scalping EAs
• Free Trading Signals from DailyFX Plus
• 24/7 client support

Multiple Currency Denominations Accepted: Account Opening Minimum: A deposit of US$2,000, £2,000, €2,000, A$2,000, NZ$2,000, or ¥200,000 is required.

“We have received tremendous demand for our No Dealing Desk MT4 platform. Through our partnership with Boston Technologies, we are able to leverage their technical expertise and widen our MT4 offering. Offering demos and expanding the selection of base currencies, as well as offering programming assistance, is just the start. Very soon we hope to be offering free, lifetime VPS hosting as well,” said Marc Prosser, chief marketing officer at FXCM.

If you are an existing account holder you can fill out the transfer form. Please contact Client Services.

FXCM Holdings LLC Facts
• FXCM Holdings LLC has over $100 Million in capital
• More than 125,000 live accounts are traded on FXCM trading platforms
• As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platforms
• As of January 2009, an excess of $600 million in customer funds trading on platforms offered by FXCM

Only spot FX can be traded on this MT4 platform with FXCM

Trading FX, CFDs and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors.

For more information, or if you have additional questions please feel free to e-mail me at jsales@fxcm.com
 
"The free practice account is live for 30 days, then automatically expires."

Is this necessary? Does expire mean the price feed ends or that you can no longer access your past work?

Any plans to have a lesser pip value than $10-?
 
CFD said:
"The free practice account is live for 30 days, then automatically expires."

Is this necessary? Does expire mean the price feed ends or that you can no longer access your past work?

Any plans to have a lesser pip value than $10-?
Click to expand...

just means u have to open an account within mt4 again... takes 10 seconds jsut means u have to reset results
 
CFD said:
"The free practice account is live for 30 days, then automatically expires."

Is this necessary? Does expire mean the price feed ends or that you can no longer access your past work?

Any plans to have a lesser pip value than $10-?
Click to expand...

What more "practice" do you need after one month? Trading systems, methods, whatever, are over-rated!
 
So you fellers who trade with FXCM are basically happy with them?
Any real complaints?
 
Hi,

Could someone with an FXCM version of MT4 tell me when their day starts please, Oz time will do, I can work it out from there.

I am using 4 hr charts for some research and it does make a difference if it is GMT or USA closing time for the day.

thanks
 
bunyip said:
So you fellers who trade with FXCM are basically happy with them?
Any real complaints?
Click to expand...

Can give a little response to this, I have running for just over 1 month to compare this broker with my other accounts. I run my own ea's which are all short term or scalping style, & unfortunately I would say this account is running poorly in comparison to others for this style of trading (may not matter for larger swing / position trades obviously).

For an example, here are the MT4 stats (hxxp://entraderfxcm.mt4live.com/) , I am finally back to breakeven again, now imagine another equity curve going mostly up & making 25 to 50 % in same period! That's the difference! I guess order execution is always a concern with short term systems & hence why I test multiple brokers.

While they may say there are 'no requotes' the market slippage can be quote bad for short term trading. I have other accounts making good money at the same time this one loses.

My alternatives I see are to modify my order method, perhaps try limit orders since the stoploss & freeze levels seem to be zero.

Anyway, I shall keep testing though, the 1st 10 days were really bad then seems to start improving, if over 6 months I can make some money I will probably keep an account running.

Not an advice, just highlighting the issues, I suggest test it out & make your own assessment.

Chrs, Dave
 
Hi Dave,

could you tell me what time of the day here in OZ when FXCM start a new daily chart please.

thanks
 
It's 9:00 am on mine.

There is a nice mt4 indi called P4L Clock, which if you can find, shows your local time, your broker time and pretty much any body elses that you may wish to display.

GoTrader uses 8:00 am which makes more sense to me.
 
So was the FXCM PR post just advertising? It was good of them to drop by, but they are not answering any questions about the use of their products.
 
Just trying to upload an indi.
 

Attachments

  • P4L Clock.mq4
    36.9 KB · Views: 14
macca said:
Hi Dave,

could you tell me what time of the day here in OZ when FXCM start a new daily chart please.

thanks
Click to expand...

Macca, I just tried out that clock indicator, its says now at 2:26 PM the "daily bar left" is 18:36 so I assume start of day candle is (hmm..counting fingers..) 9 am.

CFD...suggest contact fxcm support for actual problems.

Interesting problem happened this morning, support contacted me by email to say they were closing & reversing a losing trade as it wasn't initiated by MT4. I have no idea how that happened as I didn't place the trade & the rep didn't know the technical reasons but at least they proactive & sorted it out.
 
Thanks for that info, it really is surprising that there is no universal "day" in FX.

I know some feeds are GMT, others are GMT +2 or even +3.

USA feeds insist on closing there day when they rollover at 5.00 Wall St Time.

UK uses GMT which makes daily and 4 hourly different bars on different feeds.

I will see how it effects me.
 
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