Jaclyn from FXCM has sent and it’s suppose to be a big news for traders who use FXCM to trade since MT4 is suppose to be super user friendly (Yes, I used it for charts pretty much all the time too)
Now Available With FXCM:
MetaTrader 4 by MetaQuotes
New York, May 7, 2008FXCM (www.fxcm.com) announced that clients can now choose between trading on the FXCM trading platform or on MetaTrader4 platform by MetaQuotes.
After numerous requests from the forex community, FXCM has added Meta Trader4 to its list of trading platform options. Many forex traders love the MetaTrader 4 platform, but want the benefits of FXCM as their broker.
Trading with FXCM offers the security of trading with one of the largest and most financially secure Forex Dealer Members. Several brokerage firms which offer the popular MetaTrader 4 trading platform are unregulated in the US (under the CFTC and NFA) or at all.*
Clients switching to FXCM will enjoy:
• No Dealing Desk Execution
• Low Spreads
• Great Execution – Even During News Events
• 24/7 Customer Support
• Proprietary Trading Signals and Ideas From DailyFX.com“We respect that many forex traders are familiar with the MetaTrader 4 platform. Now our clients have a choice of two great trading platforms, the FXCM Trading Station 2.0 and MetaTrader 4,” said Marc Prosser, Chief Marketing Officer at FXCM. “The choice is free; there is no additional software charge for using any of the trading platforms.”
For more information regarding MetaTrader 4 with FXCM please visit http://www.fxcm.com/meta-trader.jsp
A separate application is needed for clients choosing to trade on MetaTrader 4 platform. http://www.fxcm.com/metatrader-apply.jsp
But… MetaTrader 4 Brokers… Hmm
Now, we have another huge issue which was uncovered by Forexfactory’s BurgerKing on a plugin that can be used by brokers to delay trades processing and many more that can be done against the trader.
I don’t find any problems with NorthFinance during my stay with them though. So the question of integrity remains on whether your broker that uses Meta Trader uses the above mentioned or similar types of plug-in to cause spike, delay your trade, or disabling pending orders during news release (this one should be pretty common)
Having a headache aren’t you?
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I don´t think FXCM is entering in the real Forex market, I consider them another bucketshop and though there are honest “bucketshops” brokers I don´t trust them at all because I don´t want to open a buy position and think that this broker will lose money if I gain and they are opening at the same time a sell position (it´s like they gain money because 95% of traders lose). Sooner or later that broker could scam me.
That mt4 plugin is only a code, it doesn´t mean that different platforms can not do the same with a different code inside, programmed in a different language.
I prefer ECN brokers. Why? because it doesn´t matter to them if I gain or if I lose, they are gaining with commissions and my trades are anonymous.
Only my thoughts.
Anyone using FXCM to share his/her experience?
Hi JoseLeon,
i do use fxcm mt4 standard account, and just at the gbp news, i place pending order buy stop 126.30 tp 126.70 sl 126.10, result i get buy 126.50 close 126.533 !!! i modify my pending order at 13.28.51 but market was still quiet…………….!! not reliable … next time i buy few minutes with market order and TP and SL , see what happen………so i think i will use mbtrading first then hotspotfx, have to check minimun deposit !!…..at least got 3.3 pip lucky they didn’t give me a loss…! cheers fxcm !!!
Some more news: you should know that NorthFinance doesn´t open new accounts, they redirect you to fxpro.com and they both are bucketshops too.
In fact I think there are few reliable forex brokers out there: mbtrading, hotspotfx, dukaskopy…, if you don´t have enough money I would consider mbtrading: the platform is hard and with some tech issues from time to time but very reliable to trade with this people.
Only my opinion.
Jose, what kind of platform is mbtrading using? Spreads are fair and good execution?
It´s its own platform with many features but not hedging, so you must be careful if you trade in the long term and used hedging before. Spreads and execution are great, sometimes even 0 spread. Avoid opening positions at 00:00 because in this hours the spreads are high. And when there are important news the spreads are very low
They also stop 2 times a day the platform during 5 minutes to calculate the rollover and update your balance with comissions, swap…, nothing to worry about. The unique problem is some tech issues from time to time, but the rest are great great!!!
Download the demo platform and use it during some days. It´s hard to use if you traded with mt4 before and sometimes you can make mistakes too lol but I like it
You also have many options to open your positions.
Notice that they make some tests in the demo platform and if you see this demo going down it´s only in the demo server. You can also read the thread in forexfactory by Justin Leblanc (a great guy from mbtrading/efxgroup) here:
http://www.forexfactory.com/showthread.php?t=10002
http://forexfactory.com/news.php?do=news&id=82743
They charge about $5 per 10 lots when opening and closing your positions. If you use 1 lot (1K) you must pay about $0,5 + $0,5 (opening + closing) + possible spread, so the comissions in normal circunstances are like 1 pip per trade. If you trade for example gbp/jpy and many times with 2-3 spread is like paying 3-4 pips at the end. Sometimes you will see 1 pip in gbp/jpy, 0 in eur/usd, usd/jpy… with colors: green is low spread, yellow medium spread and red higher spread.
I recommend to serious traders or if you are going to trade with a great sum of money this platform or hotspotfx.
I like my trades anonymous in mbtrading and not playing against me. The hard thing is trading without hedging but no problem here
Minimum: $450 if I remember well.
The problem with hotspotfx is that you can only withdraw $1000 profit, not less. And only if you have gained more than the deposited money. But it´s great that they have hedging. The minimum is $7500.
I posted about them in my Blog.
I’m interested but new to trading on the forex Market. I have heard a lot about it over the last two years but I never me anyone personally that trades in it. Where should a beginner start?
Learn how to trade? – http://www.babypips.com , it’s easy to understand from there.
Mistake: the minimum in Mbtrading is $400, not $450.
You can fund or withdraw by wire transfer ($30 fee when you withdraw, no fees in deposits).
It´s the best opportunity to people with less money to trade. You can open 0,1 in your trades too (not necessarily 1 lot).
[...] from the NOBSInvest Blog justed posted that FXCM finally has completed the launch of their new MetaTrader 4 platform offer. Yep, now all FXCM customer can enjoy the ease of use of this wonderful platform. I certainly will [...]
[...] from the NOBSInvest Blog justed posted that FXCM finally has completed the launch of their new MetaTrader 4 platform offer. Yep, now all FXCM customers can enjoy the ease of use of this wonderful platform. I certainly will [...]
[...] from the NOBSInvest Blog justed posted that FXCM finally has completed the launch of their new MetaTrader 4 platform offer. Yep, now all FXCM customers can enjoy the ease of use of this wonderful [...]
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